1 Table of contents 110

2019-20 SaskEnergy Annual Report

2019-20 SaskEnergy Annual Report

Mission, Vision & Values		2
Our Business		3
Table of Contents		4
Corporate Profile		5
Letter of Transmittal		6
Minister’s Message		7
Chair’s Message		8
President’s Message		9
Financial and Operating Highlights		11
Looking Back at 2019-20		16
Management’s Discussion and Analysis		18
Introduction		18
Strategic Scorecard Measures		18
Industry Overview		25
Consolidated Financial Results		27
Liquidity and Capital Resources		35
Capital Additions		36
Outlook		37
Risk Management and Disclosure		37
Critical Accounting Policies and Estimates		40
Accounting Policy Changes		42
Consolidated Financial Statements		43
Management’s Responsibility for Financial Statements		44
Management’s Report on Internal Control Over Financial Reporting		45
Independent Auditor’s Report		46
Consolidated Statement of Financial Position		48
Consolidated Statement of Comprehensive Income		49
Consolidated Statement of Changes in Equity		50
Consolidated Statement of Cash Flows		51
Notes to the Consolidated Financial Statements		52
1. GENERAL INFORMATION		52
2. BASIS OF PREPARATION		52
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES		53
4. CAPITAL MANAGEMENT		66
5. TRADE AND OTHER RECEIVABLES		67
6. NATURAL GAS IN STORAGE HELD FOR RESALE		68
7. DEBT RETIREMENT FUNDS		68
8. FINANCIAL AND DERIVATIVE INSTRUMENTS		69
9. FINANCIAL RISK MANAGEMENT		71
11. INTANGIBLE ASSETS		74
12. PROPERTY, PLANT AND EQUIPMENT		75
13. TRADE AND OTHER PAYABLES		76
14. LONG-TERM DEBT		76
15. UNEARNED CUSTOMER CAPITAL CONTRIBUTIONS AND GOVERNMENT GRANTS		77
16. LEASE LIABILITY		78
17. PROVISIONS		78
18. COMMITMENTS AND CONTINGENCIES		79
19. UNREALIZED MARKET VALUE ADJUSTMENTS		79
20. NATURAL GAS SALES AND PURCHASES		80
21. DELIVERY REVENUE		80
22. TRANSPORTATION AND STORAGE REVENUE		80
23. SASKATCHEWAN TAXES		81
24. NET FINANCE EXPENSES		81
25. OTHER GAINS AND LOSSES		81
26. RELATED PARTY TRANSACTIONS		81
27. RESTATEMENT OF FINANCIAL RESULTS		82
28. SUBSEQUENT EVENT		82
Corporate Governance		83
Board of Directors		83
Executive Committee		89
Corporate Governance Disclosure		92
Stakeholder Engagement		101
Supplementary Information		103
Glossary of Key Success Measures		105
Glossary of Natural Gas Measurements		108
Saskatchewan Natural Gas Transmission Lines		109

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