Financial results

This section of our MD&A discusses our performance, financial condition and outlook for the future.

2011 consolidated financial results

On January 1, 2011, we adopted IFRS for Canadian publicly accountable enterprises. Our financial statements have been prepared using IFRS. Amounts relating to the year ended December 31, 2010 in this MD&A and our related financial statements have been revised using IFRS for comparative purposes. Amounts for periods prior to January 1, 2010 are presented in accordance with Canadian GAAP.

Highlights December 31 ($ millions except per share amounts)	2011	2010	Canadian GAAP 2009	change from 2010 to 2011
(1) Net earnings for 2009 includes an amount of $382 million relating to a discontinued operation. In 2009, we sold our interest in Centerra Gold Inc. For that year, net earnings from continuing operations amounted to $717 million ($1.84 per share basic & diluted).
Revenue	2,384	2,124	2,315	12%
Gross profit	776	771	750	1%
Net earnings	450	516	1,099¹	(13)%
$ per common share (basic)	1.14	1.31	2.83¹	(13)%
$ per common share (diluted)	1.14	1.31	2.82¹	(13)%
Adjusted net earnings (non-IFRS/GAAP)	509	497	528	2%
$ per common share (adjusted and diluted)	1.29	1.26	1.35	2%
Cash provided by operations (after working capital changes)	732	521	690	40%