TOTAL CAPITAL CANADA LTD. - Total.com
TOTAL CAPITAL CANADA LTD. - Total.com
TOTAL CAPITAL CANADA LTD. - Total.com
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>TOTAL</strong> <strong>CAPITAL</strong> <strong>CANADA</strong> <strong>LTD</strong>.<br />
Notes to the Financial Statements, page 10<br />
For the three months ended March 31, 2012 and 2011<br />
(Thousands of Canadian dollars)<br />
6. Shareholder's equity (continued)<br />
(b) Changes in shareholder's equity (continued)<br />
Opening Net in<strong>com</strong>e Closing<br />
As at December 31, 2011 balance 2011 balance<br />
Share capital 50 – 50<br />
Retained earnings 139 8 147<br />
<strong>Total</strong> shareholder's equity 189 8 197<br />
7. Finance in<strong>com</strong>e and finance expenses<br />
(a) Finance in<strong>com</strong>e<br />
Three Months Ended Three Months Ended<br />
March 31, March 31,<br />
2012 2011<br />
In<strong>com</strong>e on related party loans 38,995 142,094<br />
Management fee with related party 82 188<br />
Gain on derivatives (note 8) 37,703 −<br />
Other financial in<strong>com</strong>e – 24,168<br />
76,780 166,450<br />
The Company obtains financing and lends the proceeds to TEPC. All finance expenses<br />
incurred by the Company related to these activities are recovered from TEPC.<br />
(b) Finance expenses<br />
Three Months Ended Three Months Ended<br />
March 31, March 31,<br />
2012 2011<br />
Interest 12,623 12,765<br />
Finance fees 64 220<br />
Foreign exchange loss 26,378 137,467<br />
Other financial expense 37,703 16,099<br />
76,768 166,551
Change language