Content
Consolidated Statements of Shareholders’ Equity
|
Year ended December 31, (millions of dollars) |
2007 |
2006 |
2005 |
|---|---|---|---|
Preferred Shares (Note 15) |
125.0 |
125.0 |
125.0 |
Common Shares (Note 15) |
|
|
|
Balance at beginning of year |
2,416.1 |
2,343.8 |
2,282.4 |
Common shares issued |
566.4 |
- |
6.8 |
Dividend reinvestment and share purchase plan |
17.7 |
18.4 |
14.6 |
Shares issued on exercise of stock options |
26.3 |
53.9 |
40.0 |
Balance at End of Year |
3,026.5 |
2,416.1 |
2,343.8 |
Contributed Surplus |
|
|
|
Balance at beginning of year |
18.3 |
10.0 |
5.4 |
Stock based compensation |
8.9 |
10.5 |
5.5 |
Options exercised |
(1.5) |
(2.2) |
(0.9) |
Balance at End of Year |
25.7 |
18.3 |
10.0 |
Retained Earnings |
|
|
|
Balance at beginning of year |
2,322.7 |
2,098.2 |
1,840.9 |
Earnings applicable to common shareholders |
700.2 |
615.4 |
556.0 |
Cumulative impact of change in accounting policy (Note 2) |
(47.0) |
- |
- |
Dividend reclassification adjustment (Note 8) |
- |
- |
51.2 |
Common share dividends |
(452.3) |
(403.1) |
(361.1) |
Dividends paid to reciprocal shareholder |
13.7 |
12.2 |
11.2 |
Balance at End of Year |
2,537.3 |
2,322.7 |
2,098.2 |
Accumulated Other Comprehensive Loss (Note 17) |
|
|
|
Balance at beginning of year |
(135.8) |
(171.8) |
(139.8) |
Cumulative impact of change in accounting policy (Note 2) |
48.2 |
- |
- |
Other comprehensive (loss)/income |
(197.4) |
36.0 |
(32.0) |
Balance at End of Year |
(285.0) |
(135.8) |
(171.8) |
Reciprocal Shareholding (Note 8) |
|
|
|
Balance at beginning of year |
(135.7) |
(135.7) |
(135.7) |
Participation in common shares issued |
(18.6) |
- |
- |
Balance at End of Year |
(154.3) |
(135.7) |
(135.7) |
Total Shareholders' Equity |
5,275.2 |
4,610.6 |
4,269.5 |
Dividends Paid per Common Share |
1.2300 |
1.1500 |
1.0375 |
The accompanying notes are an integral part of these consolidated financial statements.