Financial Report - Veresen Inc.

Consolidated Statement of Shareholders’ Equity
Year ended December 31,
(Canadian $ Millions) 2012 2011
Preferred Shares
January 1 – –
Series A Preferred Shares issued, net of issue costs (note 16) 195.2 –
Balance at the end of the year 195.2 –
Common Shares
January 1 1,391.0 1,279.6
Subscription receipts converted into Common Shares, net of issue costs (note 16) 334.1 –
Common Shares issued under Premium Dividend and Dividend Reinvestment Plan (“DRIP”) 75.6 100.3
December 31 1,800.7 1,379.9
Common Shares to be issued under DRIP 3.6 11.1
Balance at the end of the year 1,804.3 1,391.0
Additional paid-in capital
January 1 – –
Additional paid-in capital from disposition of non-controlling interest (note 4) 4.3 –
Balance at the end of the year 4.3 –
Cumulative other comprehensive loss
January 1 (159.2) (175.3)
Other comprehensive income (loss) (5.6) 16.1
Balance at the end of the year (164.8) (159.2)
Accumulated deficit
January 1 (324.7) (214.8)
Net income 46.6 53.1
Preferred Share dividends (7.7) –
Common Share dividends (193.5) (163.0)
Balance at the end of the year (479.3) (324.7)
1,359.7 907.1
Non-controlling interest
January 1 31.7 31.5
Non-controlling interest disposition (note 4) (31.7) –
Non-controlling interest acquisition – 0.1
Net income attributable to non-controlling interest 0.1 0.1
Balance at the end of the year 0.1 31.7
Shareholders’ Equity 1,359.8 938.8
See accompanying Notes to the Consolidated Financial Statements
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