Shareholders' Equity and Comprehensive Income
Consolidated Statements of Shareholders' Equity
(Unaudited)
($Cdn Thousands)
| |
Three Months Ended |
| |
Mar 31/08 |
Mar 31/07 |
 |
| |
| Share capital |
| Balance at beginning of period |
$819,268 |
$812,769 |
| Stock option plan |
279 |
19,797 |
| Debenture conversions |
- |
36 |
|
| Balance at end of period |
$819,547 |
$832,602 |
|
| |
| Contributed surplus |
| Balance at beginning of period |
$119,531 |
$540,173 |
| Stock-based compensation |
3,618 |
7,045 |
| Options exercised |
- |
(4,440) |
|
| Balance at end of period |
$123,149 |
$542,778 |
|
| |
| Retained earnings |
| Balance at beginning of period |
$1,779,629 |
$1,433,549 |
| Change in accounting policy - inventory [note 1] |
8,893 |
- |
| Net earnings |
133,379 |
58,504 |
| Dividends on common shares |
(20,666) |
(17,670) |
|
| Balance at end of period |
$1,901,235 |
$1,474,383 |
|
| |
| Accumulated other comprehensive income (loss) |
| Balance at beginning of period |
$25,433 |
$(927) |
| Other comprehensive loss |
(38,364) |
(19,616) |
|
| Balance at end of period |
$(12,931) |
$(20,543) |
|
| Total retained earnings and accumulated other comprehensive income |
$1,888,304 |
$1,453,840 |
|
| Shareholders' equity at end of period |
$2,831,000 |
$2,829,220 |
|
Consolidated Statements of Comprehensive Income
(Unaudited)
($Cdn Thousands)
| |
Three Months Ended |
| |
Mar 31/08 |
Mar 31/07 |
|
| |
| Net earnings |
$133,379 |
$58,504 |
| Other comprehensive income (loss), net of taxes [note 10] |
|
| |
Unrealized foreign currency translation gains (losses) |
25,658 |
(9,431) |
| |
Losses on derivatives designated as cash flow hedges |
(33,170) |
(2,320) |
| |
Gains on derivatives designated as cash flow hedges transferred to net earnings |
(24,621) |
(7,865) |
| |
Unrealized losses on assets available-for-sale |
(6,231) |
- |
|
| Other comprehensive loss |
(38,364) |
(19,616) |
|
| Total comprehensive income |
$95,015 |
$38,888 |
|
