2009 Financial Highlights

2009 Financial Highlights

Building on our track record of strong financial performance

Net Income Applicable to Common Shares

$1.4 billion or $2.11 per share

Comparable Earnings(1)

$1.3 billion or $2.03 per share

Comparable Earnings before Interest, Taxes, Depreciation and Amortization(1)

$4.1 billion

Funds Generated from Operations(1)

$3.1 billion

Capital Expenditures and Acquisitions

$6.3 billion invested in core businesses

Common Dividends Declared

$1.52 per share

Net Income Applicable to Common Shares
Net Income Applicable to Common Shares
Comparable Earnings
Comparable Earnings
Comparable EBITDA
Comparable EBITDA
 
Funds Generated from Operations
Funds Generated from Operations
Capital Expenditures and Aquisitions
Capital Expenditures and Aquisitions
Net Income per Share — Basic
Net Income per Share — Basic
 
Comparable Earnings per Share
Comparable Earnings per Share
Dividends Declared per Share
Dividends Declared per Share
Common Shares Outstanding — Average
Common Shares Outstanding — Average
 
Market Price — Close Toronto Stock Exchange
Market Price — Close Toronto Stock Exchange
(1) Non-GAAP measure that does not have any standardized meaning prescribed by generally accepted accounting principles (GAAP). For more information on non-GAAP measures see page 16 in the Management's Discussion and Analysis of the 2009 Annual Report.
Year ended December 31
(millions of dollars)		 2009  2008 2007 2006  2005
Income          
Net income applicable to common shares
          
Continuing operations
 1,374  1,440 1,223 1,051  1,209
Discontinued operations
 –  – – 28  –
  1,374  1,440 1,223 1,079  1,209
           
Cash Flow          
Funds generated from operations
 3,080  3,021 2,621 2,378  1,951
(Increase)/decrease in operating working capital
 (90) 135 63 (506) 78
Net cash provided by operations
 2,990  3,156 2,684 1,872  2,029
Capital expenditures and acquisitions
 6,319  6,363 5,874 2,042  2,071
           
Balance Sheet          
Total assets
 43,841  39,414 30,330 25,909  24,113
Long-term debt
 16,186  15,368 12,377 10,887  9,640
Junior subordinated notes
 1,036  1,213 975 –  –
Preferred shares
 539  – – –  –
Common shareholders' equity
 15,220  12,898 9,785 7,701  7,206
Common Share Statistics
Year ended December 31		 2009 2008 2007 2006 2005
Net income per share — Basic          
Continuing operations
 $2.11 $2.53 $2.31 $2.15 $2.49
Discontinued operations
 – – – 0.06 –
  $2.11 $2.53 $2.31 $2.21 $2.49
Net income per share — Diluted          
Continuing operations
 $2.11 $2.52 $2.30 $2.14 $2.47
Discontinued operations
 – – – 0.06 –
  $2.11 $2.52 $2.30 $2.20 $2.47
Dividends declared per share $1.52 $1.44 $1.36 $1.28 $1.22
           
Common shares outstanding (millions)          
Average for the year
 651.8 569.6 529.9 488.0 486.2
End of year
 684.4 616.5 539.8 489.0 487.2