2012 Financial Statements - Workers' Compensation Board
2012 Financial Statements - Workers' Compensation Board
2012 Financial Statements - Workers' Compensation Board
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Workers’ <strong>Compensation</strong> <strong>Board</strong> – Alberta<br />
<strong>Statements</strong> of Comprehensive Income<br />
Year Ended December 31<br />
<strong>2012</strong> 2011<br />
($ thousands) Notes Budget Actual Actual<br />
REVENUE<br />
Premium revenue<br />
Investment income<br />
13<br />
16<br />
$ 1,066,525<br />
378,159<br />
1,444,684<br />
$ 1,157,220<br />
782,057<br />
1,939,277<br />
$ 1,021,702<br />
310,800<br />
1,332,502<br />
EXPENSES<br />
Claims expense<br />
Claims management<br />
Interest expense on claim benefit liabilities<br />
Remeasurement of claim benefit liabilities<br />
Corporate administration<br />
Injury reduction<br />
Investment management expense<br />
Interest on employee benefit liabilities<br />
14<br />
14, 15<br />
11<br />
11<br />
15<br />
19(f)<br />
16<br />
10<br />
811,577<br />
101,888<br />
242,200<br />
(30,500)<br />
84,191<br />
47,719<br />
26,510<br />
2,846<br />
1,286,431<br />
738,961<br />
103,713<br />
242,500<br />
236,461<br />
82,190<br />
46,768<br />
29,425<br />
5,377<br />
1,485,395<br />
748,883<br />
95,626<br />
228,800<br />
35,714<br />
78,381<br />
45,628<br />
23,020<br />
4,486<br />
1,260,538<br />
OPERATING SURPLUS<br />
Funding policy surplus distributions<br />
4, 19(d)<br />
158,253<br />
-<br />
453,882<br />
(84,841)<br />
71,964<br />
1,431<br />
NET FUNDING SURPLUS<br />
158,253<br />
369,041<br />
73,395<br />
OTHER COMPREHENSIVE LOSS<br />
Remeasurement of employee benefit liabilities<br />
10<br />
-<br />
(42,719)<br />
(19,236)<br />
TOTAL COMPREHENSIVE INCOME<br />
$ 158,253<br />
$ 326,322<br />
$ 54,159<br />
The accompanying notes are an integral part of these financial statements.<br />
<strong>2012</strong> FINANCIAL STATEMENTS and notes 45