Notes to Consolidated Financial Statements

For the years ended December 31, 2014 and 2013

6. Discontinued operation

On March 27, 2014, Cameco completed the sale of its 31.6% limited partnership interest in Bruce Power L.P. (BPLP) which operates the four Bruce B nuclear reactors in Ontario. The aggregate sale price for Cameco’s interest in BPLP and certain related entities was $450,000,000. The sale has been accounted for effective January 1, 2014. Cameco received net proceeds of approximately $447,096,000 and realized an after tax gain of $127,243,000 on this divestiture.

As a result of the transaction, Cameco presented the results of BPLP as a discontinued operation and revised its statement of earnings, statement of comprehensive income and statement of cash flows to reflect this change in presentation. Net earnings from this discontinued operation are as follows:

  2015 2014
Share of earnings from BPLP and related entities $ — $ —
Tax expense
Gain on disposal of BPLP and related entities 144,912
Tax expense on disposal 17,669
Net earnings from discontinued operation $ — $127,243