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Quarterly Results Archive

QUARTERLY REPORTS

2011 Q2

Consolidated Statements of Cash Flows

(Unaudited)
($Cdn Thousands)
Three Months Ended  Six Months Ended 
Jun 30/11  Jun 30/10  Jun 30/11  Jun 30/10 
         
Operating activities         
Net earnings  $51,223  $68,073  $140,683  $210,354 
Adjustments for:         
    Depreciation, depletion and amortization  49,758  60,074  98,871  112,252 
    Deferred charges  (4,460) (11,063) (8,186) (17,902)
    Unrealized losses on derivatives  15,490  83,760  9,856  96,192 
    Share-based compensation  3,225  1,325  11,320  6,322 
    Loss (gain) on sale of assets   719  (51) 695  183 
    Finance costs  19,704  21,307  39,562  43,636 
    Finance income  (6,463) (4,428) (13,116) (8,171)
    Share of loss from equity-accounted investees   2,324  1,865  5,016  2,839 
    Other income   (352) (628) (4,975) (2,633)
    Income tax expense (recovery) (873) (18,714) 2,934  (2,081)
Interest received  5,714  2,471  9,689  4,620 
Income taxes paid  (9,209) (6,309) (47,883) (54,069)
Other operating items  (106,534) 72,875  41,831  25,242 
Net cash provided by operations  20,266  270,557  286,297  416,784 
         
         
Investing activities         
Additions to property, plant and equipment  (139,139) (113,345) (262,966) (194,362)
Purchase of short-term investments  142,719  (10,136) 10,746  (768,030)
Decrease (increase) in long-term receivables, investments and other  (341) (6,179) 27,494  (12,233)
Proceeds from sale of property, plant and equipment  40  32  5,465 
Net cash provided by (used in) investing  3,246  (129,620) (224,694) (969,160)
         
         
Financing activities         
Decrease in debt  (7,046) (6,099) (10,870) (9,512)
Interest paid  (2,893) (3,096) (27,088) (27,513)
Contributions from non-controlling interest  2,208  2,210  6,451  4,638 
Proceeds from issuance of shares, stock option plan  159  756  6,938  2,267 
Dividends paid  (39,470) (27,507) (67,075) (51,078)
Net cash used in financing  (47,042) (33,736) (91,644) (81,198)
         
         
Increase (decrease) in cash during the period  (23,530) 107,201  (30,041) (633,574)
Exchange rate changes on foreign currency cash balances  1,938  69  (449) (2,615)
Cash and cash equivalents at beginning of period  367,723  357,770  376,621  1,101,229 
Cash and cash equivalents at end of period  $346,131  $465,040  $346,131  $465,040 
         
         
Cash and cash equivalents is comprised of:         
  Cash      $101,324  $70,184 
  Cash equivalents      244,807  394,856 
      $346,131  $465,040 
         
See accompanying notes to condensed consolidated interim financial statements.