1 Table of contents 100

2017-18 SaskEnergy Annual Report

2017-18 SaskEnergy Annual Report

Table of Contents		2
Mission, Vision, Values		3
Corporate Profile		4
Letter of Transmittal		6
Minister’s Message		7
Chair’s Message		8
President’s Message		9
Financial and Operating Highlights		11
2017-18 Year at a Glance		15
Management’s Discussion and Analysis		17
INTRODUCTION		17
STRATEGIC SCORECARD MEASURES		17
INDUSTRY OVERVIEW		26
CONSOLIDATED FINANCIAL RESULTS		29
LIQUIDITY AND CAPITAL RESOURCES		36
EXPENDITURES		37
OUTLOOK		38
RISK MANAGEMENT AND DISCLOSURE		39
CRITICAL ACCOUNTING POLICIES AND ESTIMATES		43
ACCOUNTING POLICY CHANGES		44
Consolidated Financial Statements		45
Management’s Responsibility For Financial Statements		46
Management’s Report on Internal Control Over Financial Reporting		47
Independent Auditor’s Report		48
Consolidated Statement of Financial Position		49
Consolidated Statement of Comprehensive Income		50
Consolidated Statement of Changes in Equity		51
Notes to the Consolidated Financial Statements		52
1. GENERAL INFORMATION		53
2. BASIS OF PREPARATION		53
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES		54
4. CAPITAL MANAGEMENT		62
5. TRADE AND OTHER RECEIVABLES		63
6. NATURAL GAS IN STORAGE HELD FOR RESALE		64
7. DEBT RETIREMENT FUNDS		64
8. ASSETS HELD FOR SALE		64
9. FINANCIAL AND DERIVATIVE INSTRUMENTS		64
10. FINANCIAL RISK MANAGEMENT		66
11. INTANGIBLE ASSETS		68
12. PROPERTY, PLANT AND EQUIPMENT		69
13. TRADE AND OTHER PAYABLES		70
14. LONG-TERM DEBT		71
15. DEFERRED REVENUE		72
16. FINANCE LEASE OBLIGATION		72
17. PROVISIONS		72
18. COMMITMENTS AND CONTINGENCIES		73
19. UNREALIZED MARKET VALUE ADJUSTMENTS		73
20. NATURAL GAS SALES AND PURCHASES		74
21. SASKATCHEWAN TAXES		74
22. NET FINANCE EXPENSES		74
23. OTHER GAINS AND LOSSES		75
24. RELATED PARTY TRANSACTIONS		75
Corporate Governance		76
Board of Directors		76
Executive Committee		81
Corporate Governance Disclosure		83
Stakeholder Engagement		91
Supplementary Information		93
Five Year Consolidated Financial Summary		93
Glossary of Key Success Measures		95
Glossary of Natural Gas Measurements		98
SaskEnergy Incorporated Natural Gas Transmission Pipelines		99

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