Cash Statement
Consolidated Statements of Cash Flows
(Unaudited)
($Cdn Thousands)
| |
Three Months Ended |
Six Months Ended |
|
| |
Jun 30/08 |
Jun 30/07 |
Jun 30/08 |
Jun 30/07 |
|
 |
| | |
| Operating activities |
|
| |
Net earnings |
$150,349 |
$204,877 |
$283,729 |
$263,381 |
|
| |
Items not requiring (providing) cash: |
|
| |
Depreciation, depletion and reclamation |
53,594 |
75,880 |
113,982 |
122,526 |
|
| |
Provision for future taxes [note 11] |
(55,655) |
(15,496) |
(65,709) |
(66,546) |
|
| |
Deferred gains |
(14,901) |
(21,030) |
(79,347) |
(23,748) |
|
| |
Unrealized losses (gains) on derivatives |
(11,049) |
(12,164) |
18,405 |
(13,804) |
|
| |
Stock-based compensation [note 13] |
(3,957) |
2,355 |
(339) |
9,400 |
|
| |
Loss (gain) on sale of assets |
31 |
- |
(3,077) |
(4,893) |
|
| |
Equity in loss of associated companies |
1,841 |
2,193 |
3,804 |
3,092 |
|
| |
Restructuring of gold business [note 16] |
1,800 |
- |
6,600 |
- |
|
| |
Minority interest |
7,105 |
10,420 |
18,482 |
15,196 |
|
| |
Other operating items [note 15] |
(15,982) |
(91,699) |
(37,640) |
(10,506) |
|
|
| Cash provided by operations |
113,176 |
155,336 |
258,890 |
294,098 |
|
|
| | |
| Investing activities |
|
| |
Additions to property, plant and equipment |
(127,500) |
(115,822) |
(240,199) |
(228,142) |
|
| |
Increase in long-term receivables, investments and other |
(138,585) |
(10,800) |
(157,360) |
(10,463) |
|
| |
Proceeds on sale of property, plant and equipment |
(35) |
- |
3,073 |
4,892 |
|
|
| Cash used in investing |
(266,120) |
(126,622) |
(394,486) |
(233,713) |
|
|
| | |
| Financing activities |
|
| |
Decrease in debt |
(2,212) |
(4,851) |
(4,329) |
(3,871) |
|
| |
Increase in debt |
41,391 |
- |
38,471 |
6,320 |
|
| |
Short-term financing |
123,726 |
10,949 |
123,726 |
10,949 |
|
| |
Issue of shares |
422 |
6,559 |
701 |
21,951 |
|
| |
Dividends |
(20,666) |
(17,671) |
(37,886) |
(31,763) |
|
|
| Cash provided by (used in) financing |
142,661 |
(5,014) |
120,683 |
3,586 |
|
|
| | |
| |
Decrease in cash during the period |
(10,283) |
23,700 |
(14,913) |
63,971 |
|
| |
Exchange rate changes on foreign currency cash balances |
(1,076) |
(26,922) |
3,864 |
(29,053) |
|
| |
Cash and cash equivalents at beginning of period |
132,242 |
372,229 |
131,932 |
334,089 |
|
|
| Cash and cash equivalents at end of period |
$120,883 |
$369,007 |
$120,883 |
$369,007 |
|
|
| | |
| Cash and cash equivalents comprised of: |
|
| |
Cash |
$67,396 |
$96,957 |
|
| |
Short-term investments |
53,487 |
272,050 |
|
|
| |
$120,883 |
$369,007 |
|
|
| | |
| Supplemental cash flow disclosure |
|
| |
Interest paid |
$10,714 |
$11,274 |
$22,883 |
$23,854 |
|
| |
Income taxes paid |
$19,470 |
$31,973 |
$101,260 |
$108,302 |
|
|
| | |
