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

2.6%

379.46

21.31

6,163.7

351.7

469.0

31,738.2

23,305.6

1,255.3

7,761.9

20.5

408.99



(1)

All share references are to common shares; shares
outstanding are in millions.
(2) Effective January 1, 2007, Canadian Generally Accepted Accounting Principles changed, requiring the company to carry most of its investments at fair value, whereas previously these investments would have been carried at cost or amortized cost. The company adopted these new requirements prospectively, and accordingly prior period investment balances in this table have not been restated.
(3) Quoted in Canadian dollars.
(4) When current management took over in September 1985.

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