Home Annual Report 2002



Net Income Applicable to Common Share from Continuing Operations

Funds Generated From Continuing Operations

Capital Expenditures and Acquisitions in Continuing Operations

IN 2002, TRANSCANADA DELIVERED ON ITS COMMITMENT TO MAXIMIZE SHAREHOLDER VALUE. TOTAL SHAREHOLDER RETURN, INCLUDING DIVIDENDS, WAS 21 PER CENT.

We continued to make profitable investments in our core businesses, pay down debt and reduce operating costs. Our actions resulted in an increase in earnings and cash flow and a stronger balance sheet. In January 2003, TransCanada’s Board of Directors raised the quarterly dividend on the company’s common shares from $0.25 per share to $0.27 per share, for the quarter ended March 31, 2003.


OPERATING RESULTS

Year ended December 31 2002 2001 2000
(millions of dollars)

     
Income Statement      

Net income/(loss) applicable to common shares

     

   Continuing operations

747

686 628

   Discontinued operations

(67) 61
 

747

619 689

Cash Flow Statement

     

Funds generated from continuing operations

1,827

1,624 1,495

Capital expenditures and acquisitions in continuing operations

814

1,025 773

Balance Sheet

     

Total assets

19,916

19,954 24,817

Long-term debt

8,815

9,347 9,928

Common shareholders’ equity

5,747

5,426 5,211


COMMON SHARE STATISTICS

Year ended December 31 2002 2001 2000

Net income/(loss) per share – basic

     

   Continuing operations

$ 1.56

$ 1.44 $ 1.32

   Discontinued operations

(0.14) 0.13
 

$ 1.56

$ 1.30 $ 1.45

Net income per share – diluted

$ 1.55

$ 1.30 $ 1.45

Dividends declared per share

$ 1.00

$ 0.90 $ 0.80

Common shares outstanding (millions)

     

   Average for the year

478.3

475.8 474.6

   End of year

479.5

476.6 474.9


Net Income Per Common Share From Continuing Operations - Basic

Dividends Declared Per Common Share

Total Shareholder Return