Annual Report - 2001 - ARC Resources Ltd.

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PAGE 63 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH FLOWS For the years ended December 31 (CDN$ thousands) 2001 2000 Cash flow from operating activities Net income $ 140,688 $ 110,872 Add items not involving cash: Future income tax recovery (28,130) – Depletion, depreciation and amortization 165,050 68,494 Amortization of commodity and foreign currency contracts (17,497) – Amortization of deferred foreign exchange (gain) loss 159 (17) 260,270 179,349 Change in non-cash working capital (6,399) (13,440) 253,871 165,909 Cash flow from financing activities Borrowing (repayments) of long-term debt, net 13,103 (78,673) Issue of Senior Secured Notes (Note 6) – 53,864 Issue of Trust units 93,053 183,858 Trust unit issue costs (4,654) (8,317) Cash distributions paid (235,590) (116,188) (134,088) 34,544 Cash flow from investing activities Acquisition of Startech, net of cash received (Note 3) (7,970) – Acquisition of properties (32,686) (171,537) Proceeds on disposition of properties 19,775 22,441 Purchase of capital assets (97,207) (53,848) Reclamation fund contributions and actual expenditures (4,380) (3,418) (122,468) (206,362) Decrease in cash (2,685) (5,909) Cash, beginning of year 3,331 9,240 Cash, end of year $ 646 $ 3,331 See accompanying notes to consolidated financial statements ARC ENERGY TRUST AR 2001
PAGE 64 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH DISTRIBUTIONS AND ACCUMULATED CASH DISTRIBUTIONS For the years ended December 31 (CDN$ thousands, except per unit amounts) 2001 2000 Net income $ 140,688 $ 110,872 Future income tax recovery (28,130) – Depletion, depreciation and amortization 165,050 68,494 Amortization of commodity and foreign currency contracts (17,497) – Amortization of deferred foreign exchange (gain) loss 159 (17) Cash from operations (Note 9) 260,270 179,349 Cash from operations (99 per cent) 257,667 177,556 Add (deduct): General and administrative reimbursement (residual one per cent) 2,603 1,793 Capital expenditures (27,933) (23,331) Proceeds from disposition of royalty interests 19,775 17,614 Discretionary debt repayment (19,775) (41,466) Reclamation fund contributions (4,095) (3,418) Current period accruals 5,811 210 Cash distributions 234,053 128,958 Accumulated cash distributions, beginning of year 271,277 142,319 Accumulated cash distributions, end of year $ 505,330 $ 271,277 Cash distributions per unit (Note 9) $ 2.31 $ 2.01 See accompanying notes to consolidated financial statements ARC ENERGY TRUST AR 2001
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AR 2001 ARC ENERGY TRUST ANNUAL REP
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Photo: Drilling in the Drayton Vall
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OPERATING HIGHLIGHTS Years ended De
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AT THE TIME OF OUR INITIAL PUBLIC O
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PAGE 4 FEATURE: MANAGEMENT EXPERTIS
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John P. Dielwart Director, Presiden
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PAGE 8 MESSAGE TO UNITHOLDERS We ha
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PAGE 10 MESSAGE TO UNITHOLDERS envi
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Page 19 and 20: PAGE 14 FEATURE: QUALITY ASSETS A C
Page 21 and 22: Top: Deanna Kalenchuk, Wayne Lentz,
Page 23 and 24: PAGE 18 OPERATIONS REVIEW DEVELOPME
Page 25 and 26: PAGE 20 MAJOR PROPERTIES NORTHERN A
Page 27 and 28: PAGE 22 MAJOR PROPERTIES PEMBINA PE
Page 29 and 30: PAGE 24 MAJOR PROPERTIES CENTRAL AL
Page 31 and 32: PAGE 26 MAJOR PROPERTIES SOUTHEAST
Page 33 and 34: PAGE 28 MAJOR PROPERTIES SOUTHEAST
Page 35 and 36: PAGE 30 MAJOR PROPERTIES WEYBURN UN
Page 37 and 38: PAGE 32 ACQUISITIONS AND DIVESTMENT
Page 39 and 40: PAGE 34 RESERVES RESERVES Based on
Page 41 and 42: PAGE 36 RESERVES Reserves Reconcili
Page 43 and 44: PAGE 38 ENVIRONMENT, HEALTH AND SAF
Page 45 and 46: PAGE 40 ENVIRONMENT, HEALTH AND SAF
Page 47 and 48: PAGE 42 FEATURE: COMMITMENT DEFININ
Page 49 and 50: MANAGEMENT’S DISCUSSION AND ANALY
Page 51 and 52: PAGE 46 MANAGEMENT’S DISCUSSION A
Page 65 and 66: PAGE 60 MANAGEMENT’S RESPONSIBILI
Page 67: PAGE 62 CONSOLIDATED FINANCIAL STAT
Page 71 and 72: PAGE 66 NOTES TO CONSOLIDATED FINAN
Page 83 and 84: PAGE 78 QUARTERLY REVIEW QUARTERLY
Page 85 and 86: PAGE 80 DIRECTORS AND OFFICERS John
Page 87 and 88: PAGE 82 CORPORATE GOVERNANCE CORPOR
Page 89 and 90: PAGE 84 CORPORATE AND UNITHOLDER IN
Page 91: ANNUAL REPORT 2001 AR 2001 ARC ENER
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