| As at December 31 ($ millions) |
2008 | 2007 | ||
|---|---|---|---|---|
ASSETS |
||||
Current Assets |
||||
| Cash and cash equivalents (note 11 PDF) | $ | 1,465 | $ | 1,076 |
| Short term investments | 694 | 461 | ||
| Accounts receivable (notes 12 & 13 PDFs) | 958 | 985 | ||
| Inventories (note 14 PDF) | 2,307 | 2,145 | ||
| Income taxes | 40 | 133 | ||
| Future income taxes (note 8 PDF) | 69 | 76 | ||
| Prepaid expenses and other assets | 75 | 40 | ||
| Current assets of operations held for sale (note 10 PDF) | 2,588 | 238 | ||
Total Current Assets |
8,196 | 5,154 | ||
| Fixed Assets (note 15 PDF) | 8,542 | 8,453 | ||
| Goodwill and Intangible Assets (note 3 PDF) | 1,134 | 1,128 | ||
| Future Income Taxes (note 8 PDF) | 36 | |||
| Other Assets (note 16 PDF) | 1,756 | 1,819 | ||
| Long Term Assets of Operations Held for Sale (note 10 PDF) | 1,880 | |||
Total Assets |
$ | 19,664 | $ | 18,434 |
LIABILITIES |
||||
Current Liabilities |
||||
| Bank indebtedness | $ | 112 | $ | 60 |
| Commercial paper | 609 | |||
| Accounts payable and accrued liabilities | 3,121 | 3,184 | ||
| Income taxes | 78 | |||
| Future income taxes (note 8 PDF) | 1 | |||
| Short term bank loans (notes 18 & 19 PDFs) | 453 | 250 | ||
| Long term debt due within one year (note 19 PDF) | 415 | 432 | ||
| Capital securities (note 22 PDF) | 264 | |||
| Current liabilities of operations held for sale (note 10 PDF) | 620 | 348 | ||
Total Current Liabilities |
5,063 | 4,884 | ||
| Long Term Debt (note 19 PDF) | 5,308 | 5,494 | ||
| Future Income Taxes (note 8 PDF) | 288 | 296 | ||
| Other Liabilities (note 20 PDF) | 615 | 525 | ||
| Capital Securities (note 22 PDF) | 219 | 260 | ||
| Minority Interest | 2,244 | 2,132 | ||
| Long Term Liabilities of Operations Held for Sale (note 10 PDF) | 166 | |||
Total Liabilities |
13,737 | 13,757 | ||
SHAREHOLDERS’ EQUITY |
||||
| Share Capital (notes 23 & 25 PDFs) | 950 | 950 | ||
| Retained Earnings | 5,299 | 4,726 | ||
| Accumulated Other Comprehensive Loss (note 26 PDF) | (322) | (999) | ||
Total Shareholders’ Equity |
5,927 | 4,677 | ||
Total Liabilities and Shareholders’ Equity |
$ | 19,664 | $ | 18,434 |
|
Contingencies, commitments and guarantees (note 30 PDF). Leases (note 21 PDF). Subsequent events (note 33 PDF). See accompanying notes to the consolidated financial statements. |
||||
Approved on behalf of the Board
| [signed] | [signed] |
|
W. Galen Weston Director |
A. Charles Baillie Director |