IESO 2009 Annual Report - Independent Electricity System Operator
IESO 2009 Annual Report - Independent Electricity System Operator
IESO 2009 Annual Report - Independent Electricity System Operator
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ieso <strong>2009</strong> ANNUAL REPORT<br />
Statement of Cash Flows<br />
For the year ended December 31 (in thousands of Canadian dollars) <strong>2009</strong> 2008<br />
$ $<br />
OPERATING ACTIVITIES<br />
Net loss for the year (13,914) (7,058)<br />
Adjustments for non-cash items:<br />
Amortization 24,319 23,360<br />
Pension cost 12,524 13,456<br />
Other employee future benefits cost 6,240 6,252<br />
Change in fair value of long-term investments held for trading (1,218) 3,127<br />
27,951 39,137<br />
Changes in non-cash balances related to operations:<br />
Change in accounts payable and accrued liabilities (1,760) (636)<br />
Change in rebates to market participants 2,938 1,386<br />
Change in accounts receivable 275 55<br />
Change in prepaid expenses 265 (831)<br />
1,718 (26)<br />
Other:<br />
Contribution to pension fund (17,712) (8,646)<br />
Payment of employee future benefits (1,735) (1,673)<br />
(19,447) (10,319)<br />
Cash provided by operating activities 10,222 28,792<br />
INVESTING ACTIVITIES<br />
Net purchase of long-term investments (2,014) (1,381)<br />
Investment in property and equipment (8,975) (13,645)<br />
Investment in intangible assets (2,934) (2,304)<br />
Cash used in investing activities (13,923) (17,330)<br />
NET CHANGE IN CASH AND CASH EQUIVALENTS (3,701) 11,462<br />
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 12,691 1,229<br />
CASH AND CASH EQUIVALENTS - END OF YEAR 8,990 12,691<br />
See accompanying notes to financial statements.<br />
Supplementary information:<br />
(in thousands of Canadian dollars)<br />
Interest paid 3,279 6,224<br />
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