| As at December 31 ($ millions) |
2007 | 2006 | ||
|---|---|---|---|---|
ASSETS |
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Current Assets |
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| Cash and cash equivalents (note 11 PDF) | $ | 1,353 | $ | 1,219 |
| Short term investments | 603 | 610 | ||
| Accounts receivable (note 12 PDF) | 1,141 | 1,007 | ||
| Inventories (note 13 PDF) | 2,172 | 2,187 | ||
| Income taxes | 91 | 80 | ||
| Future income taxes (note 8 PDF) | 121 | 151 | ||
| Prepaid expenses and other assets | 49 | 59 | ||
Total Current Assets |
5,530 | 5,313 | ||
| Fixed Assets (note 14 PDF) | 8,960 | 9,219 | ||
| Goodwill and Intangible Assets (note 3 PDF) | 2,240 | 2,536 | ||
| Future Income Taxes (note 8 PDF) | 91 | 68 | ||
| Other Assets (note 15 PDF) | 1,567 | 1,459 | ||
Total Assets |
$ | 18,388 | $ | 18,595 |
LIABILITIES |
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Current Liabilities |
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| Bank indebtedness | $ | 85 | $ | 99 |
| Commercial paper | 609 | 838 | ||
| Accounts payable and accrued liabilities | 3,322 | 3,176 | ||
| Short term bank loans (notes 17 & 18 PDFs) | 250 | 178 | ||
| Long term debt due within one year (note 18 PDF) | 432 | 27 | ||
| Current liabilities of discontinued operations (note 10 PDF) | 3 | 4 | ||
Total Current Liabilities |
4,701 | 4,322 | ||
| Long Term Debt (note 18 PDF) | 5,494 | 5,918 | ||
| Future Income Taxes (note 8 PDF) | 293 | 366 | ||
| Other Liabilities (note 19 PDF) | 831 | 688 | ||
| Minority Interest | 2,132 | 2,088 | ||
Total Liabilities |
13,451 | 13,382 | ||
SHAREHOLDERS’ EQUITY |
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| Share Capital (notes 21 & 23 PDFs) | 1,210 | 1,210 | ||
| Retained Earnings | 4,726 | 4,506 | ||
| Accumulated Other Comprehensive Loss (note 22 PDF) | (999) | (503) | ||
Total Shareholders’ Equity |
4,937 | 5,213 | ||
Total Liabilities and Shareholders’ Equity |
$ | 18,388 | $ | 18,595 |
|
Contingencies, commitments and guarantees (note 25 PDF). Leases (note 20 PDF). See accompanying notes to the consolidated financial statements. |
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Approved on behalf of the Board
| [signed] | [signed] |
|
W. Galen Weston Director |
A. Charles Baillie Director |