Corporate

Financial Track Record

(in US$ millions except share and per share data and as otherwise indicated) (1)



Per Share











Increase in book value per share

Common share-holders’ equity

Net earnings

Revenue

Earnings before income taxes

Net earnings

Total assets

Invest- ments (2)

Net debt

Common share-holders’ equity

Shares outstanding

Closing share price (3)

As at and for the years ended December 31:

1985

 —

1.52

(1.35)

12.2

(0.6)

(0.6)

30.4

23.9

7.6

5.0

3.25(4)

1986

179.6%

4.25

0.98

38.9

6.6

4.7

93.4

68.8

3.7

29.7

7.0

12.75

1987

48.2%

6.30

1.72

86.9

14.0

12.3

139.8

93.5

4.9

46.0

7.3

12.37

1988

31.1%

8.26

1.63

112.0

17.9

12.1

200.6

111.7

27.3

60.3

7.3

15.00

1989

27.1%

10.50

1.87

108.6

16.6

14.4

209.5

113.1

21.9

76.7

7.3

18.75

1990

41.3%

14.84

2.42

167.0

19.8

18.2

461.9

289.3

83.3

81.6

5.5

11.00

1991

23.9%

18.38

3.34

217.4

28.3

19.6

447.0

295.3

58.0

101.1

5.5

21.25

1992

0.9%

18.55

1.44

237.0

5.8

8.3

464.6

311.7

69.4

113.1

6.1

25.00

1993

42.3%

26.39

4.19

266.7

36.2

25.8

906.6

641.1

118.7

211.1

8.0

61.25

1994

17.7%

31.06

3.41

464.8

33.7

27.9

1,549.3

1,105.9

166.3

279.6

9.0

67.00

1995

25.2%

38.89

7.15

837.0

70.1

63.9

2,104.8

1,221.9

175.7

346.1

8.9

98.00

1996

62.8%

63.31

11.26

1,082.3

137.4

110.6

4,216.0

2,520.4

281.6

664.7

10.5

290.00

1997

36.3%

86.28

14.12

1,507.7

218.0

152.1

7,148.9

4,054.1

369.7

960.5

11.1

320.00

1998

30.4%

112.49

23.60

2,469.0

358.9

280.3

13,640.1

7,867.8

830.0

1,364.8

12.1

540.00

1999

38.3%

155.55

3.20

3,905.9

(72.2)

42.6

22,229.3

12,289.7

1,248.5

2,088.5

13.4

245.50

2000

(4.8)%

148.14

5.04

4,157.2

(66.7)

75.5

21,667.8

10,399.6

1,251.5

1,940.8

13.1

228.50

2001

(21.0)%

117.03

(31.93)

3,953.2

(695.1)

(406.5)

22,183.8

10,228.8

1,194.1

1,679.5

14.4

164.00

2002

7.0%

125.25

17.49

5,104.7

294.7

252.8

22,173.2

10,596.5

1,602.8

1,760.4

14.1

121.11

2003

30.7%

163.70

19.51

5,731.2

537.1

288.6

24,877.1

12,491.2

1,961.1

2,264.6

13.8

226.11

2004

(0.6)%

162.76

3.11

5,829.7

287.6

53.1

26,271.2

13,460.6

1,965.9

2,605.7

16.0

202.24

2005

(15.5)%

137.50

(27.75)

5,900.5

(466.5)

(446.6)

27,542.0

14,869.4

1,984.0

2,448.2

17.8

168.00

2006

9.2%

150.16

11.92

6,803.7

878.6

227.5

26,576.5

16,819.7

1,613.6

2,662.4

17.7

231.67

2007

53.2%

230.01

58.38

7,510.2

2,160.4

1,095.8

27,941.8

19,000.7

1,207.4

4,063.5

17.7

287.00

2008

21.0%

278.28

79.53

7,825.6

2,444.3

1,473.8

27,305.4

19,949.8

412.5

4,866.3

17.5

390.00

2009

32.9%

369.80

43.75

6,635.6

1,205.6

856.8

28,452.0

21,273.0

1,071.1

7,391.8

20.0

410.00

2010

1.8%

376.33

14.82

5,967.3

151.1 

335.8 

31,448.1 

23,300.0 

1,254.9 

7,697.9 

20.5

408.99

 2011

(3.1)%

 364.55

(0.31) 

 7,475.0

(8.7) 

 45.1

 33,406.9

24,322.5 

2,055.7

7,427.9

20.4

437.01

 2012

 3.7%

378.10

22.68

8,022.8

649.0

526.9

36,945.4

26,094.2

1,920.6

7,654.7

 20.2

358.55

 2013 (10.3)%  339.00  (31.15)  5,944.9  (1,001.1)  (573.4)  35,999.0 24,861.6  1,752.9  7,186.7  21.2  424.11 
 2014 16.5%  394.83  73.01  10,017.9  2,337.9  1,633.2   36,131.2 26,192.7  1,966.3  8,361.0  21.2  608.78 
2015                        


(1)

All share references are to common shares; shares
outstanding are in millions.
(2) Quoted in Canadian dollars.
(3) IFRS basis 2010 to 2014; Canadian GAAP basis for 2009 and prior.  Under Canadian GAAP, investments were generally carried at cost or amortized cost in 2006 and prior. 
(4) When current management took over in September 1985.