(Unaudited)
($Cdn Thousands) |
| |
|
|
|
|
| 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 |
7 |
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 |
| |
|
|
|
|
|
|
| |
|
|
|
|
0.26
