Advertisement
Other standards and amendments
-- IFRS 9, Financial Instruments, addresses classification and measurement of financial assets and financial liabilities, and is effective January 1, 2015, with earlier adoption permitted. The new Standard limits the number of categories for classification of financial assets to two: amortized cost and fair value through profit or loss. IFRS 9 also replaces the models for measuring equity instruments. Equity instruments are either recognized at fair value through profit or loss or at fair value through other comprehensive income. IFRS 9 is not expected to have a material impact on amounts recorded in the financial statements of CPPI.-- IFRS 13, Fair Value Measurement, clarifies that fair value is the price that would be received on sale of an asset, or paid to transfer a liability in an orderly transaction between market participants, at the measurement date. IFRS 13 is not expected to have a material impact on amounts recorded in the financial statements of CPPI.-- IAS 1, Presentation of Financial Statements, has been amended to require entities to separate items presented in other comprehensive income ("OCI") into two groups, based on whether or not items may be recycled to net income in the future. The amendment is effective for annual periods beginning on or after July 1, 2012, with earlier application permitted. IAS 1 is not expected to have a material impact on amounts recorded in the financial statements of CPPI.2. Inventories
(millions of Canadian dollars) As at As at December 31, 2012 December 31, 2011----------------------------------------------------------------------------Pulp $ 59.4 $ 64.1Paper 18.2 17.0Wood chips 10.9 16.0Materials and supplies 45.6 44.5---------------------------------------------------------------------------- $ 134.1 $ 141.6--------------------------------------------------------------------------------------------------------------------------------------------------------
3. Operating Loans and Long-Term Debt
(a) Available Operating Loans
As at As at December 31,(millions of Canadian dollars) December 31, 2012 2011----------------------------------------------------------------------------Operating loan facility $ 110.0 $ 40.0Bridge loan credit facility (maximum $30.0 million) - 19.7Facility for BC Hydro letter of credit 7.5 10.4----------------------------------------------------------------------------Total operating loans 117.5 70.1Drawn - -Letters of credit (for general business purposes) (1.7) (0.5)BC Hydro letter of credit (7.5) (10.4)----------------------------------------------------------------------------Total available operating loans $ 108.3 $ 59.2--------------------------------------------------------------------------------------------------------------------------------------------------------
