CORPORATE
| (millions of Canadian dollars) |
2006 |
|
2005 |
|
2004 |
| Corporate |
|
(82.2) |
|
(63.9) |
|
(81.3) |
| Revalue future income taxes due to tax rate changes |
|
14.0 |
|
– |
|
– |
| |
|
(68.2) |
|
(63.9) |
|
(81.3) |
The Corporate segment includes corporate financing costs, business development activities and other corporate costs not attributable to a specific business segment.
Corporate costs were $82.2 million for the year ended December 31, 2006 compared with $63.9 million for the year ended December 31, 2005. The increase in Corporate costs was due to a number of factors including higher interest expense as a portion of the Company’s floating rate debt was repaid through the issuance of long-term fixed rate debt as well as higher business development activity and the impact of a strong labour market.
Corporate costs were $63.9 million for the year ended December 31, 2005 compared with $81.3 million for the year ended December 31, 2004. Corporate costs were lower in 2005 reflecting lower interest expense due to lower rates. Also, business development costs were higher in 2004. |
