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ACCTG311 (34)
Lecture

Chapter 8 Appendix.pdf

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Department
Accounting
Course
ACCTG311
Professor
Kristie Dewald
Semester
Fall

Description
Consolidated Statements of Earnings For the 52 weeks ended December 31, 2011 and January 1, 2011 (in thousands of Canadian dollars, except per share amounts) 2011 2010 (1) Sales $ 10,458,652 $ 10,192,714 Cost of goods sold 9 (6,416,208) (6,283,634) Gross profit 4,042,444 3,909,080 Operating and administrative expenses 10, 11, 13 (3,131,539) (3,011,758) Operating income 910,905 897,322 Finance expenses 12 (64,038) (60,633) Earnings before income taxes 846,867 836,689 Income taxes 14 Current (208,696) (238,779) Deferred (24,237) (6,059) (232,933) (244,838) Net earnings $613,934 $ 591,851 Net earnings per common share Basic 25 $ 2.84 $ 2.72 Diluted 25 $ 2.84 $ 2.72 Weighted average common shares outstanding (millions): Basic 25 216.4 217.4 Diluted 25 216.5 217.5 Actual common shares outstanding (millions) 24 212.5 217.5 (1) In preparing its 2010 comparative information, the Company has adjusted ▯amounts reported previously in financial statements prep ared in accordance with Canadian Generally Accepted Accounting Principles (“previous Canadia▯n GAAP”). See Note 30 to these consolidated financial statements for an explanation of the transition to International Financial Reporting Standards (“I▯FRS”). The accompanying notes are an integral part of these consolidated fina▯ncial statements. Consolidated Statements of Comprehensive Income For the 52 weeks ended December 31, 2011 and January 1, 2011 (in thousands of Canadian dollars) Note 2011 2010 (1) Net earnings $613,934 $ 591,851 Other comprehensive income (loss), net of tax Effective portion of changes in fair value of hedges on interest rate derivatives (net of tax of $nil (2010: $525)) 18 – 1,120 Effective portion of changes in fair value of hedges on equity forward ▯ derivatives (net of tax of $12 (2010: $205)) 18 (39) (521) Net change in fair value of hedges on interest rate and equity forward d▯erivatives transferred to earnings (net of tax of $163 (2010: $13)) 18 411 33 Retirement benefit obligations actuarial losses (net of tax of $7,433▯ (2010: $2,905)) 21 (21,943) (8,150) Other comprehensive loss, net of tax 7 (21,571()7,518) Total comprehensive income $ 592,363 $ 584,333 (1In preparing its 2010 comparative information, the Company has adjusted ▯amounts reported previously in financial statements prepared in accordance with previous Canadian GAAP. See Note 30 to these consolidated financial st▯atements for an explanation of the transition to IFRS. The accompanying notes are an integral part of these consolidated fina▯ncial statements. Chapter 8 appendix SHOPPERS DRUG MART CORPORATION ANNUAL REPORT 2011 65 Consolidated Balance Sheets As at December 31, 2011, January 1, 2011 and January 3, 2010 (in thousands of Canadian dollars) December 31, January 1, Note 2011 2011 (1)2010 Current assets Cash $118,566 $ 64,354 $ recAvcoulents 493,338 432,089 Inventory 2,042,302 1,957,525 recovertbxesIncome – 20,384 Prepaid expenses and deposits
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