Historical Financial Summary

Years ended December 31 (millions of C$) 2010 20091 20081 2007 2006
Balance sheets          
Current assets 3,208 3,154 2,928 1,747 2,226
Other long‑term assets 1,031 2,857 3,838 2,020 1,132
Goodwill 1,150 1,176 1,187 1,290 1,468
Property, plant and equipment 18,804 16,431 16,322 16,363 16,655
Total assets 24,193 23,618 24,275 21,420 21,481
Current liabilities 3,401 2,601 2,818 2,217 3,126
Long-term debt        3,824 3,770 3,961 4,862 4,560
Other liabilities 6,489 6,136 6,346 6,378 6,488
Shareholders’ equity        10,479 11,111 11,150 7,963 7,307
Total liabilities and shareholders’ equity        24,193 23,618 24,275 21,420 21,481
Income statements          
Revenue          
Gross sales 8,076 7,011 10,269 8,501 8,524
Hedging gain (loss) – – (28) 104 66
Gross sales, net of hedging 8,076 7,011 10,241 8,605 8,590
Less royalties 1,274 1,065 1,799 1,487 1,469
Net sales 6,802 5,946 8,442 7,118 7,121
Other 110 115 112 118 109
Total revenue 6,912 6,061 8,554 7,236 7,230
Expenses          
Operating 1,867 1,861 1,822 1,792 1,508
Transportation 227 222 207 204 202
General and administrative 392 334 294 223 233
Depreciation, depletion and amortization 2,164 2,360 2,606 2,107 1,813
Dry hole 123 539 442 595 213
Exploration 384 301 429 314 313
Interest on long-term debt        163 192 168 207 165
Stock‑based compensation (recovery) 201 290 (73) (15) 51
(Gain) loss on held-for-trading financial instruments        (102) 412 (1,664) 25 –
Other, net 194 47 (179) 36 (37)
Total expenses 5,613 6,558 4,052 5,488 4,461
Income (loss) from continuing operations before taxes 1,299 (497) 4,502 1,748 2,769
Taxes          
Current income tax 1,032 731 1,282 656 671
Future income tax (recovery) (272) (678) 165 (70) 519
Petroleum revenue tax 131 108 176 258 283
  891 161 1,623 844 1,473
Income (loss) from continuing operations 408 (658) 2,879 904 1,296
Income from discontinued operations 240 1,095 640 1,174 709
Net income 648 437 3,519 2,078 2,005
  1. Restated for operations classified as discontinued in 2010.