Consolidated Financial Position

As at December 31 ($Cdn thousands)	Note	2013	(Revised – note 3) 2012	(Revised – note 3) Jan 1/12
Commitments and contingencies [notes 17, 22]
See accompanying notes to consolidated financial statements.
Assets
Current assets
Cash and cash equivalents		$229,135	$749,499	$395,552
Short-term investments		–	49,535	804,141
Accounts receivable	7	431,375	404,040	516,663
Current tax assets		2,598	9,404	17,988
Inventories	8	913,315	563,578	493,875
Supplies and prepaid expenses		177,632	110,777	114,182
Current portion of long-term receivables, investments and other	11	3,775	22,807	14,088
Total current assets		1,757,830	1,909,640	2,356,489

Property, plant and equipment	9	5,040,993	4,817,150	3,907,655
Goodwill and intangible assets	10	194,031	93,101	97,728
Long-term receivables, investments and other	11	287,548	211,358	188,718
Investments in equity-accounted investees	12	492,712	205,889	224,148
Deferred tax assets	22	266,203	193,916	82,223
Total non-current assets		6,281,487	5,521,414	4,500,472
Total assets		$8,039,317	$7,431,054	$6,856,961

Liabilities and shareholders’ equity
Current liabilities
Bank overdraft	14	$41,226	$ –	$ –
Accounts payable and accrued liabilities	13	437,941	387,653	355,634
Current tax liabilities		54,708	36,600	39,330
Short-term debt	14	50,230	67,090	79,186
Dividends payable		39,548	39,535	39,475
Current portion of other liabilities	16	60,685	13,028	32,508
Current portion of provisions	17	20,213	18,830	14,857
Total current liabilities		704,551	562,736	560,990

Long-term debt	15	1,293,383	1,292,440	795,145
Other liabilities	16	79,380	77,517	52,308
Provisions	17	570,700	550,624	519,625
Deferred tax liabilities	22	41,909	5,773	8,165
Total non-current liabilities		1,985,372	1,926,354	1,375,243

Shareholders’ equity
Share capital		1,854,671	1,851,507	1,842,289
Contributed surplus		186,382	168,952	155,757
Retained earnings		3,314,049	2,913,134	2,872,565
Other components of equity		(6,837)	7,791	46,574
Total shareholders’ equity attributable to equity holders		5,348,265	4,941,384	4,917,185

Non-controlling interest		1,129	580	3,543
Total shareholders’ equity		5,349,394	4,941,964	4,920,728
Total liabilities and shareholders’ equity		$8,039,317	$7,431,054	$6,856,961

Approved by the board of directors
Original signed by Tim S. Gitzel and John H. Clappison