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See Notes to Unaudited Consolidated Financial Statements
Consolidated Balance Sheets
(unaudited)
December March 31 31As at (millions of Canadian dollars) 2013 2012----------------------------------------------------------------------------ASSETSCurrent assets Cash and cash equivalents $ 1,471 $ 1,553 Accounts receivable 315 311 Inventories 160 137 Prepaid expenses 6 9---------------------------------------------------------------------------- $ 1,952 $ 2,010Property, plant and equipment, net (Note 4) 8,087 8,003Exploration and evaluation 89 89Reclamation trust 71 69---------------------------------------------------------------------------- $ 10,199 $ 10,171--------------------------------------------------------------------------------------------------------------------------------------------------------LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities Accounts payable and accrued liabilities (Note 5) $ 759 $ 704 Current portion of long-term debt 303 297 Current taxes 86 40 Current portion of employee future benefits 76 76---------------------------------------------------------------------------- $ 1,224 $ 1,117Employee future benefits 332 362Other liabilities (Note 6) 92 89Long-term debt 1,529 1,497Asset retirement obligation (Note 7) 969 1,058Deferred taxes 1,516 1,533---------------------------------------------------------------------------- $ 5,662 $ 5,656Shareholders' equity 4,537 4,515---------------------------------------------------------------------------- $ 10,199 $ 10,171--------------------------------------------------------------------------------------------------------------------------------------------------------Commitments and Contingencies (Notes 14 and 15, respectively)
See Notes to Unaudited Consolidated Financial Statements
Consolidated Statements of Cash Flows
(unaudited)
Three Months Ended March 31(millions of Canadian dollars) 2013 2012----------------------------------------------------------------------------Cash from (used in) operating activities Net income $ 177 $ 318 Items not requiring an outlay of cash Depreciation and depletion 122 95 Accretion of asset retirement obligation (Note 7) 6 6 Foreign exchange (gain) loss on long-term debt (Note 9) 37 (20) Deferred tax expense (Note 11) (22) 99 Share-based compensation 2 - Reclamation expenditures (Note 7) (33) (43) Change in employee future benefits and other (14) (1)---------------------------------------------------------------------------- Cash flow from operations $ 275 $ 454 Change in non-cash working capital (Note 16) 53 112---------------------------------------------------------------------------- Cash from operating activities $ 328 $ 566----------------------------------------------------------------------------Cash from (used in) financing activities Issuance of senior notes $ - $ 689 Issuance of shares 1 - Dividends (170) (145)---------------------------------------------------------------------------- Cash from (used in) financing activities $ (169) $ 544----------------------------------------------------------------------------Cash from (used in) investing activities Capital expenditures $ (268) $ (141) Reclamation trust funding (2) (3) Change in non-cash working capital (Note 16) 23 18---------------------------------------------------------------------------- Cash used in investing activities $ (247) $ (126)----------------------------------------------------------------------------Foreign exchange gain (loss) on cash and cash equivalents held in foreign currency $ 6 $ -----------------------------------------------------------------------------Increase (decrease) in cash and cash equivalents $ (82) $ 984Cash and cash equivalents, beginning of period 1,553 718----------------------------------------------------------------------------Cash and cash equivalents, end of period $ 1,471 $ 1,702--------------------------------------------------------------------------------------------------------------------------------------------------------Cash and cash equivalents consist of: Cash $ 758 $ 24 Short-term investments 713 1,678---------------------------------------------------------------------------- $ 1,471 $ 1,702--------------------------------------------------------------------------------------------------------------------------------------------------------
