2015-16 SaskEnergy Annual Report

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

Made with FlippingBook Ebook Creator