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(1) Net of tax of nil and nil for the three months and year ended December 31, 2012, respectively ($0.1 million and $0.2 million for the three months and year ended December 31, 2011, respectively).
The accompanying notes to the financial statements are an integral component of the financial statements.
Consolidated Statement of Changes in Equity
(Expressed in thousands of Canadian Dollars)
Equity portion of Shareholders' convertible Contributed capital debentures surplus---------------------------------------------------------------------------Balance, December 31, 2010 315,934 1,021 1,679---------------------------------------------------------------------------Changes in equity for year ended December 31, 2011Exercise of options 1,452 - -Redemption of convertible debentures - (1,021) 1,021Dividends declared - - -Other comprehensive loss - - -Net earnings for the year - - ----------------------------------------------------------------------------Balance, December 31, 2011 317,386 - 2,700---------------------------------------------------------------------------Changes in equity for year ended December 31, 2012Exercise of options 2,443 - -Issuance of shares (Note 12) 74,400 - -Cancellation of shares (181) - 181Dividends declared - - -Other comprehensive loss - - -Net earnings for the year - - ----------------------------------------------------------------------------Balance, December 31, 2012 394,048 - 2,881--------------------------------------------------------------------------- Accumulated other Retained comprehensive earnings income (loss) Total----------------------------------------------------------------------------Balance, December 31, 2010 204,935 587 524,156----------------------------------------------------------------------------Changes in equity for year ended December 31, 2011Exercise of options - - 1,452Redemption of convertible debentures - - -Dividends declared (14,818) - (14,818)Other comprehensive loss - (2,431) (2,431)Net earnings for the year 33,562 - 33,562----------------------------------------------------------------------------Balance, December 31, 2011 223,679 (1,844) 541,921----------------------------------------------------------------------------Changes in equity for year ended December 31, 2012Exercise of options - - 2,443Issuance of shares (Note 12) - - 74,400Cancellation of shares - - -Dividends declared (18,918) - (18,918)Other comprehensive loss - (1,210) (1,210)Net earnings for the year 42,804 - 42,804----------------------------------------------------------------------------Balance, December 31, 2012 247,565 (3,054) 641,440----------------------------------------------------------------------------
