Consolidated Statement of Comprehensive Income
15
12
12
12
12
12
Months Ended March 31, 2016 1 Audited
Months Ended
Months Ended
Months Ended
Months Ended
Months Ended
December 31, 2015 Unaudited
December 31, 2014 2
December 31, 2013
December 31, 2012
December 31, 2011
(millions)
Audited
Audited
Audited
Audited
REVENUE
Natural gas sales
$ 718
$ 600
$ 510
$ 569
$ 565
$ 440
Delivery
232
217
194
187
289 151
215 119
Transportation and storage Customer capital contributions
98 33 16
92 24 12
85 29 12
77 43 12
61 14
37 12
Other
1,097
945
830
888
1,080
823
EXPENSES
Natural gas purchases
695
550
465
518
494 115 152 110
381
Employee benefits
92
89 97 77 11
85 85 73 10
82 83 68 10
91
Operating and maintenance Depreciation and amortization
126
118
83 11
87 12
Saskatchewan taxes
15
1,007
824 121
718 112
761 127
886 194
689 134
90
INCOME BEFORE THE FOLLOWING
NET FINANCE EXPENSES Finance income
4
4
5
5
6
5
Finance expenses
(48) (44)
(44) (40)
(44) (39)
(40) (35)
(62) (56)
(51) (46)
1
(2)
–
(8)
OTHER (LOSSES) GAINS
(3)
–
47
79
73
84
NET INCOME BEFORE MARKET VALUE ADJUSTMENTS
135
88
MARKET VALUE ADJUSTMENTS Commodity
(83)
27
47
(43)
4
15
Gas marketing
8
(33)
(32)
7
(15)
(14)
Net realizable value on natural gas in storage Debt retirement funds
(12)
13
21
(24)
(11)
(1) (3) (3)
7
(7)
(2)
2
(2)
(80)
–
34
(58)
(24)
TOTAL NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
$ (33)
$ 79
$ 107
$ 26
$ 111
$ 85
CONSOLIDATED STATEMENT OF CASH FLOWS Cash provided by operating activities
$ 248
$ 244
$ 172
$ 195
$ 347
$ 260
Cash used in investing activities Cash (used in) provided by financing activities
(283)
(221)
(181)
(150)
(241)
(215)
40
(25)
(10)
(25)
(100)
(47)
$
5
$
(2)
$ (19)
$ 20
INCREASE (DECREASE) IN CASH POSITION
$
6
$ (2)
1 On November 30, 2015, the Government of Saskatchewan announced a change in the year end for CIC and its subsidiaries from December 31 to March 31, commencing with the 2015-16 fiscal year. Accordingly, for the 2015-16 fiscal year the Corporation reported a 15-month fiscal period ended March 31, 2016, shown here compared to 12-month fiscal periods ended December 31. 2 Certain comparative amounts in the consolidated statement of comprehensive income have been reclassified to conform with the current fiscal year’s presentation.
97
2015-16 ANNUAL REPORT SASKENERGY
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