HispanicBusiness

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME--------------------------------------------------------------------------------------------------------------------------------------------------------                                         Quarters ended         Years ended                                            December 31         December 31(in millions of Canadian dollars)        2012      2011      2012      2011----------------------------------------------------------------------------Net earnings for the period         $    20.4 $    28.5 $    98.8 $   118.3----------------------------------------------------------------------------Other comprehensive income (loss) net of taxUnrealized foreign exchange (losses) gains on translation of foreign operations                               4.1      (7.8)     (8.5)      9.1Unrealized (losses) gains on items designated as net investment hedges        -       2.6      (0.9)     (2.5)Losses on derivatives designated as cash flow hedges transferred to net earnings during the year                   -       0.3       2.3       1.1Actuarial (losses) gains on pension and similar obligations                  3.1     (13.8)     (6.0)    (13.8)----------------------------------------------------------------------------Other comprehensive income (loss)         7.2     (18.7)    (13.1)     (6.1)----------------------------------------------------------------------------Total comprehensive income          $    27.6 $     9.8 $    85.7 $   112.2--------------------------------------------------------------------------------------------------------------------------------------------------------CONSOLIDATED STATEMENTS OF FINANCIAL POSITION--------------------------------------------------------------------------------------------------------------------------------------------------------                                                December 31     December 31(in millions of Canadian dollars)                      2012            2011----------------------------------------------------------------------------ASSETSCurrent  Cash and cash equivalents                 $         115.1 $         270.7  Accounts receivable                                 456.2           382.4  Inventories                                         764.0           645.6  Prepaid expenses                                      7.1             4.6  Income taxes receivable                               7.7             0.5----------------------------------------------------------------------------                                                    1,350.1         1,303.8Property, Plant and Equipment                         241.8           201.3Deferred Income Tax Assets                              4.6             5.3Other Assets                                            6.5             3.3Goodwill and Intangibles                              192.1            24.7----------------------------------------------------------------------------                                            $       1,795.1 $       1,538.4--------------------------------------------------------------------------------------------------------------------------------------------------------LIABILITIES AND SHAREHOLDERS' EQUITYCurrent  Bank indebtedness                         $          14.3 $             -  Accounts payable and accrued liabilities            396.5           362.8  Income taxes payable                                    -            17.4  Current portion long-term debt                        2.2             1.3----------------------------------------------------------------------------                                                      413.0           381.5Long-Term Debt                                        453.6           296.5Pensions and Benefits                                  38.7            33.3Deferred Income Tax Liabilities                        20.5             0.4Provisions and Other Non-Current Liabilities           39.9             7.3----------------------------------------------------------------------------                                                      965.7           719.0----------------------------------------------------------------------------Shareholders' Equity  Common shares                                       487.9           485.4  Retained earnings                                   324.3           306.7  Contributed surplus                                  17.3            15.7  Accumulated other comprehensive loss                (30.2)          (17.1)  Equity component of convertible debenture            28.7            28.7----------------------------------------------------------------------------Total Shareholders' Equity Attributable to Equity Holders                                       828.0           819.4  Non-controlling interest                              1.4               -----------------------------------------------------------------------------Total Shareholders' Equity                            829.4           819.4----------------------------------------------------------------------------Total Liabilities and Shareholders' Equity  $       1,795.1 $       1,538.4--------------------------------------------------------------------------------------------------------------------------------------------------------CONSOLIDATED STATEMENTS OF CASHFLOW--------------------------------------------------------------------------------------------------------------------------------------------------------                                           Quarters ended       Years ended                                              December 31       December 31(in millions of Canadian dollars)           2012     2011     2012     2011----------------------------------------------------------------------------Operating activities  Net earnings for the period           $   20.4 $   28.5 $   98.8 $  118.3  Depreciation and amortization              7.4      5.8     25.5     23.5  Deferred income taxes                      0.3     (0.3)     1.3     (0.2)  (Gain) loss on sale of property, plant   and equipment                            (1.2)     0.1     (1.2)     0.1Stock-based compensation                     0.6      0.5      2.1      2.1Difference between pension expense and amount funded                              (1.4)    (1.3)    (3.1)    (2.6)Debt accretion, amortization and other       1.7      1.5      9.7      6.4----------------------------------------------------------------------------Cash from operating activities before non-cash working capital                   27.8     34.8    133.1    147.6----------------------------------------------------------------------------Changes in non-cash working capital items  Accounts receivable                       46.8     11.7     25.4    (78.6)  Inventories                               48.4      2.0    (28.5)   (97.5)  Accounts payable and accrued   liabilities                             (17.4)    23.5    (34.3)    79.0  Income taxes receivable/ payable           0.1      3.4    (19.6)     7.2  Other                                     (0.6)    (0.6)    (0.1)    (1.5)----------------------------------------------------------------------------Change in non-cash working capital          77.3     40.0    (57.1)   (91.4)----------------------------------------------------------------------------Cash from operating activities             105.1     74.8     76.0     56.2----------------------------------------------------------------------------Financing activities  Increase in bank borrowings               14.6        -     14.6        -  Issue of common shares                     0.6      0.1      2.0      1.4  Dividends on common shares               (21.1)   (18.1)   (81.2)   (69.1)  Issuance of long-term debt                   -        -    300.0        -  Repayment of long-term debt               (0.3)    (3.4)  (142.4)   (29.3)  Deferred financing                           -     (0.1)    (7.0)    (0.6)----------------------------------------------------------------------------Cash from (used in) financing activities    (6.2)   (21.5)    86.0    (97.6)----------------------------------------------------------------------------Investing activities  Purchase of property, plant and   equipment                                (7.3)    (5.2)   (33.7)   (18.1)  Proceeds on sale of property, plant   and equipment                             1.8      0.1      1.8      0.8  Purchase of business                    (226.4)       -   (281.3)       -----------------------------------------------------------------------------Cash used in investing activities         (231.9)    (5.1)  (313.2)   (17.3)----------------------------------------------------------------------------Effect of exchange rates on cash and cash equivalents                            1.0     (1.4)    (4.4)     5.7----------------------------------------------------------------------------Increase (Decrease) in cash and cash equivalents                              (132.0)    46.8   (155.6)   (53.0)Cash and cash equivalents, beginning of the period                                247.1    223.9    270.7    323.7----------------------------------------------------------------------------Cash and cash equivalents, end of the year                                   $  115.1 $  270.7 $  115.1 $  270.7--------------------------------------------------------------------------------------------------------------------------------------------------------Supplemental cash flow information:Income taxes paid                       $    5.6 $    7.9 $   60.0 $   45.8Interest paid (net)                     $   16.1 $    0.5 $   31.2 $   25.5CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY--------------------------------------------------------------------------------------------------------------------------------------------------------(in millions of Canadian   Common   Retained    Contributed     Accumulated dollars)                  Shares   Earnings        Surplus           Other                                                              Comprehensive                                                                       Loss----------------------------------------------------------------------------Balance, January 1, 2012 $  485.4 $    306.7  $        15.7 $         (17.1)Acquired during the year        -          -              -               -Payment of dividends            -      (81.2)             -               -Net earnings for the year                           -       98.8              -               -Other comprehensive loss for the year                   -          -              -           (13.1)Recognition of stock- based compensation             -          -            1.6               -Stock options exercised       2.5          -              -               -----------------------------------------------------------------------------Balance, December 31, 2012                    $  487.9 $    324.3  $        17.3 $         (30.2)--------------------------------------------------------------------------------------------------------------------------------------------------------Balance, January 1, 2011 $  483.7 $    257.5  $        13.9 $         (11.0)Payment of dividends            -      (69.1)             -               -Net earnings for the year                           -      118.3              -               -Other comprehensive loss for the year                   -          -              -            (6.1)Recognition of stock- based compensation             -          -            1.8               -Stock options exercised       1.7          -              -               -----------------------------------------------------------------------------Balance, December 31, 2011                    $  485.4 $    306.7  $        15.7 $         (17.1)--------------------------------------------------------------------------------------------------------------------------------------------------------CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY------------------------------------------------------------------------------------------------------------------------------------(in millions of Canadian         Equity Non Controlling     Total dollars)                  Component of        Interest                            Convertible                             Debentures------------------------------------------------------------------Balance, January 1, 2012$          28.7 $             - $   819.4Acquired during the year              -             1.4       1.4Payment of dividends                  -               -     (81.2)Net earnings for the year                                 -               -      98.8Other comprehensive loss for the year                         -               -     (13.1)Recognition of stock- based compensation                   -               -       1.6Stock options exercised               -               -       2.5------------------------------------------------------------------Balance, December 31, 2012                   $          28.7 $           1.4 $   829.4------------------------------------------------------------------------------------------------------------------------------------Balance, January 1, 2011$          28.7 $             - $   772.8Payment of dividends                  -               -     (69.1)Net earnings for the year                                 -               -     118.3Other comprehensive loss for the year                         -               -      (6.1)Recognition of stock- based compensation                   -               -       1.8Stock options exercised               -               -       1.7------------------------------------------------------------------Balance, December 31, 2011                   $          28.7 $             - $   819.4------------------------------------------------------------------------------------------------------------------------------------