- Talisman 2010 Highlights
- About Our Company
- Financial and Operating Highlights
- President's Message
- Where We Operate
- Looking to 2011
- Management's Discussion and Analysis
- 2010 Performance
- 2010 Net Income Variance
- Continuing Operations Review
- Acquisitions
- Discontinued Operations
- Reserves Replacement
- Liquidity and Capital Resources
- Sensitivities
- Commitments and Off-Balance Sheet Arrangements
- Risk Management
- Summary of Quarterly Results
- Outlook for 2011
- Internal Control Over Financial Reporting and Disclosure Controls and Procedures
- Litigation
- Application of Critical Accounting Policies and Use of Estimates
- Changes in Reporting Conventions
- New US Accounting Pronouncements
- New Regulatory Developments
- International Financial Reporting Standards (IFRS)
- Risk Factors
- Advisories
- Abbreviations and Definitions
- Consolidated Financial Statements
- Report of Management
- Management Report on Internal Control Over Financial Reporting
- Independent Auditors' Report on Internal Controls Under Standards of the Public Company Accounting Oversight Board (United States)
- Independent Auditors' Report of Registered Public Accounting Firm
- Consolidated Balance Sheets
- Consolidated Statements of Income
- Consolidated Statements of Comprehensive Income (Loss)
- Consolidated Statements of Changes in Shareholders' Equity
- Consolidated Statements of Cash Flows
- Notes to the Consolidated Financial Statements
- Supplementary Oil and Gas Information
- Results of Operations from Oil and Gas Producing Activities
- Capitalized Costs Relating to Oil and Gas Activities
- Costs Incurred in Oil and Gas Activities
- Standardized Measure of Discounted Future Net Cash Flows from Proved Reserves
- Discounted Future Net Cash Flows from Proved Reserves
- Principal Sources of Changes in Discounted Cash Flows
- Continuity of Net Proved Reserves 1
- Additional Information
- Detailed Property Reviews
- Governance
- Investor Information
- Corporate Information
- Advisories
- Market Information
| Years ended December 31 (millions of C$) | 2010 | 2009 | 2008 |
|---|---|---|---|
| Net income | 648 | 437 | 3,519 |
| Other comprehensive loss: | |||
| Foreign currency translation adjustments1 | (625) | (317) | (100) |
| Transfer of accumulated foreign currency gain to net income (note 3) | (465) | – | – |
| Gains and losses on derivatives designated as cash flow hedges: | |||
| Unrealized gains (losses) arising during the year2 | 14 | 39 | (50) |
| Realized losses (gains) recognized in net income3 | (12) | (40) | 67 |
| 2 | (1) | 17 | |
| Other comprehensive loss | (1,088) | (318) | (83) |
| Comprehensive income (loss) | (440) | 119 | 3,436 |
- Includes net investment hedging gain of $22 million (2009 – $63 million loss; 2008 – $259 million gain).
- Net of tax of $5 million (2009 – $13 million; 2008 – $(19) million).
- Net of tax of $(4) million (2009 – $(14) million; 2008 – $6 million).
See accompanying notes.