SaskEnergy Fourth Quarter Report - December 31, 2015

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Twelve Months Ended December 31, 2015 (unaudited)

For the Twelve Months Ended December 31, 2014 (audited)

Income before Unrealized Market Value Adjustments

Unrealized Market Value Adjustments (Note 11)

Income before Unrealized Market Value Adjustments

Unrealized Market Value Adjustments (Note 11)

Total

Total

(millions)

Notes

Revenue Natural gas sales

$

440 215 119

$

(15)

$

425 215 119

12

$

718 232

$

11

$

729 232

- - - -

Delivery

- - - -

Transportation and storage Customer capital contributions

15

98 33 16

98 33 16

38 12

38 12

Other

15

824

(15)

809

1,097

11

1,108

Expenses Natural gas purchases (net of change in inventory)

381

(15)

366

12

695

98

793

91

- - - -

91

Employee benefits

92

- - - -

92

118

118

Operating and maintenance Depreciation and amortization

126

126

87 12

87 12

83 11

83 11

Saskatchewan taxes

689 135

(15)

674 135

1,007

98

1,105

Income before the following

-

90

(87)

3

5

(3)

2

Finance income Finance expenses

4

7

11

(51) (46)

-

(51) (49)

(48) (44)

-

(48) (37)

Net finance expenses

(3)

7

(1)

-

(1)

Other (losses) gains

5

1

-

1

Total net income (loss) and comprehensive income (loss)

$

88

$

(3)

$

85

$

47

$

(80)

$

(33)

(See accompanying notes)

15

2015/2016 FOURTH QUARTER REPORT

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