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Guide to Financial Statistics Tables

DEFINITIONS:
The numbers presented in our Financial Statistics Tables use specific criteria, making the data consistent and comparable for all companies in our coverage. Most items such as net income, current assets and total assets are defined by generally accepted accounting principles. Other items are defined as follows:

Income Statement items:
Operating revenue — Pertains to sales generated from the primary business(es) of the company, net of royalties paid; in most cases it excludes interest and other investment income. Revenue components such as management fees, engineering fees, royalties received, service income, premium income and rental income are included. Royalty tax credits are not included. For banks and trust companies, operating revenue consists of interest income; fees and commissions are included in other income. For management and investment holding companies, the figure displayed as “Total revenue” may include investment and equity income, as well as realized and unrealized gains and losses on investments, and therefore in some cases may be a negative number.

Investment income — Includes interest and dividend income, and pre-tax equity income of the company in the net income of its unconsolidated subsidiaries and affiliates. Does not include gains or losses incurred upon disposition of investments.

Write-downs — Includes write-downs, write-offs and abandonment’s of resource properties (and associated capitalized exploration and development expenditures), and write-downs and write-offs of investments, including provisions for such charged to net income.

Unusual items and Extraordinary items — Pertain to items explicitly identified as such on the company’s income statement, subject to analyst’s discretion.

Balance Sheet items:
Fixed assets, net — Pertains to all property, plant and equipment used in the generation of revenue, net of accumulated depreciation and depletion.
Includes producing oil and gas properties and producing mineral properties.

Explor./devel. properties — Pertains to resource properties at the exploration or the development stage. Includes both the acquisition costs of the properties and capitalized exploration and development expenditures.

The number of common shares (or equivalent) are shown at the end of the fiscal period within the financial tables. If the company has more than one class of common shares, the total will be shown.

Statement of Changes in Financial Position items:
Cash flow — Pertains to the sub-total derived by adding back to net income the charges to operations not requiring an outlay of cash (such as depreciation, deferred taxes and write-downs) but before taking into account net changes in non-cash working capital balances related to operations.

Funds from operating activities. — Like cash flow noted above, adds back non-cash charges to net income, including net changes in non-cash working capital balances related to operations.

Net cash position — Net cash as defined by the company at the end of the period covered in the Statement of Changes in Financial Position.

Explor./devel. expenditures — Refers to the expenditures incurred by the company during the fiscal periods for exploration or development work physically performed on its non-producing properties. It does not include cost of acquisition of new properties.

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