Consolidated Statements of Earnings

For the years ended December 31
($Cdn thousands, except per share amounts)
Note 2014  (Revised – note 6) 
2013 
See accompanying notes to consolidated financial statements.
Revenue from products and services   $2,397,532  $2,438,723 
Cost of products and services sold   1,420,768  1,549,238 
Depreciation and amortization   338,983  282,756 
Cost of sales   1,759,751  1,831,994 
Gross profit   637,781  606,729 
Administration   176,385  184,976 
Impairment charges 10,12,13 326,693  70,159 
Exploration   46,565  72,833 
Research and development   5,044  7,302 
Loss on disposal of assets 10 44,762  6,766 
Earnings from operations   38,332  264,693 
Finance costs 21 (77,122) (62,121)
Losses on derivatives 28 (121,160) (61,970)
Finance income   7,402  6,967 
Share of loss from equity-accounted investees 13 (17,141) (14,107)
Other income (expense) 22 50,591  (18,326)
Earnings (loss) before income taxes   (119,098) 115,136 
Income tax recovery 23 (175,268) (117,230)
Net earnings from continuing operations   56,170  232,366 
Net earnings from discontinued operation 6 127,243  85,321 
Net earnings   $183,413  $317,687 
Net earnings (loss) attributable to:      
Equity holders   $185,234  $318,495 
Non-controlling interest   (1,821) (808)
Net earnings   $183,413  $317,687 
Earnings per common share attributable to equity holders      
Continuing operations   0.15  0.59 
Discontinued operation   0.32  0.22 
Total basic earnings per share 24 $0.47  $0.81 
Continuing operations   0.15  0.59 
Discontinued operation   0.32  0.22 
Total diluted earnings per share 24 $0.47  $0.81