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Consolidated Earnings

For the years ended December 31
($Cdn thousands, except per share amounts)
Note 2013  (Revised – note 3) 
2012 
See accompanying notes to consolidated financial statements.
Revenue from products and services   $2,438,723  $1,890,660 
Cost of products and services sold   1,549,238  1,133,263 
Depreciation and amortization   282,756  217,381 
Cost of sales   1,831,994  1,350,644 
Gross profit   606,729  540,016 
Administration   184,976  180,900 
Impairment charges 9 70,159  168,000 
Exploration   72,833  97,260 
Research and development   7,302  9,301 
Loss (gain) on sale of assets   6,766  (1,660)
Earnings from operations   264,693  86,215 
Finance costs 20 (62,121) (67,654)
Gains (losses) on derivatives 27 (61,970) 41,416 
Finance income   6,967  13,934 
Share of earnings from BPLP 12 109,553  157,846 
Share of loss from equity-accounted investees 12 (10,867) (5,896)
Other expense 21 (18,326) (24,746)
Earnings before income taxes   227,929  201,115 
Income tax recovery 22 (89,758) (50,641)
Net earnings   $317,687  $251,756 
Net earnings (loss) attributable to:  
Equity holders   $318,495  $253,309 
Non-controlling interest   (808) (1,553)
Net earnings   $317,687  $251,756 
Earnings per common share attributable to equity holders  
Basic 23 $0.81  $0.64 
Diluted 23 $0.81  $0.64