2008 McGRAW-HILL RYERSON AnnuAl RepoRt

More documents

Recommendations

Info

$Math and Chemistry - McGraw-Hill Ryerson$

Balance SheetsMcGraw-Hill Ryerson Limited. Incorporated under the laws of Ontario(In Thousands of Dollars)McGraw-Hill Ryerson Annual Report 200818As at December 31 2008 2007AssetsCurrentCash and cash equivalents 43,856 35,646Accounts receivable [net of allowance for sales returns of $6,986; 2007 - $7,206] [note 10] 14,285 14,489Due from parent and affiliated companies [note 2] 1,827 1,870Inventories [note 4] 7,082 7,717Prepaid expenses and other 296 354Future tax assets [note 7] 2,263 2,390Total current assets 69,609 62,466Capital assets, net [note 5] 16,048 17,247Other assets, net [note 6] 16,540 14,365Future tax assets [note 7] 623 582102,820 94,660Liabilities and Shareholders’ EquityCurrentAccounts payable and accrued charges 10,721 10,821Dividends payable 13,976 —Income taxes payable 359 972Due to parent and affiliated companies [note 2] 5,669 5,454Total current liabilities 30,725 17,247Employee future benefits [note 8] 2,026 1,983Total liabilities 32,751 19,230Commitments [note 9]Shareholders' equityShare capitalAuthorized 5,000,000 common sharesIssued and outstanding 1,996,638 common shares 1,997 1,997Retained earnings 68,072 73,433Total shareholders' equity 70,069 75,430102,820 94,660(See accompanying Notes.)On behalf of the BoardH. Ian Macdonald, O.C., LL.D., Director David L. Swail, Director
Statements of Income, ComprehensiveIncome, and Retained Earnings(In Thousands of Dollars—except Per Share Data)Years ended December 31 2008 2007RevenueSales, less returns 91,485 89,778Other 3,065 2,75494,550 92,532ExpensesOperating [notes 2 and 4] 37,613 37,324Editorial, selling, general and administrative [notes 3 and 13] 33,030 34,355Amortization – prepublication costs 6,206 5,788Amortization – capital assets 1,349 1,368Employee future benefits [note 8] 99 (2,777)Foreign exchange loss 345 64478,642 76,702Income before income taxes 15,908 15,830Provision for income taxes [note 7]Current 5,320 5,021Future 86 8495,406 5,870Net income and comprehensive income for the year 10,502 9,960McGraw-Hill Ryerson Annual Report 200819Retained earnings, beginning of year 73,433 71,230Dividends paid and payable to shareholders [$7.945 per share; 2007 - $3.885 per share] (15,863) (7,757)Retained earnings, end of year 68,072 73,433Earnings per shareBasic $5.26 $4.99Diluted $5.26 $4.99(See accompanying Notes.)
Page 3: Table of Contents Company ProfileMc
Page 9 and 10: School DivisionThe School Division
Page 11 and 12: chenelière/McGraw-hill (“DLC“)
Page 13 and 14: Management’s Discussion and Analy
Page 15 and 16: Amortization of pre-publication cos
Page 17 and 18: ■■adopted this pronouncement in
Page 19: Management ReportTo the Shareholder
Page 23 and 24: Notes to Financial Statements1 Summ
Page 25 and 26: Amounts due from parent and affilia
Page 27 and 28: 8 EMPLOYEE FUTURE BENEFITSThe actua
Page 29 and 30: The following table sets forth the
Page 31 and 32: 13 EDITORIAL, SELLING, GENERAL, AND
Page 33 and 34: Management TeamDavid L. SwailPresid
Page 35 and 36: International AffiliatesThe McGraw-

2008 McGRAW-HILL RYERSON AnnuAl RepoRt

Create successful ePaper yourself

Delete template?

Save as template?