Q4 - Power Corporation of Canada

POWER CORPORATION OF CANADACONDENSED SUPPLEMENTARY BALANCE SHEETSConsolidatedbasisEquitybasisAs at December 31 2012 2011 2012 2011Assets Cash and cash equivalents [1] 3,540 3,741 624 666Investments in Parjointco, jointly controlledcorporations and associates 2,293 2,341 Investments in subsidiaries at equity 8,055 7,832Investments 125,712 118,966 1,664 1,557Funds held by ceding insurers 10,537 9,923 Reinsurance assets 2,064 2,061 Intangible assets 5,081 5,107 Goodwill 8,738 8,828 Other assets 8,732 7,947 330 339Interest on account of segregated fund policyholders 104,948 96,582 Total assets 271,645 255,496 10,673 10,394Liabilities Insurance and investment contract liabilities 120,658 115,512 Obligations to securitization entities 4,701 3,827 Debentures and debt instruments 6,351 6,296 400 400Capital trust securities 119 533 Other liabilities 8,163 7,711 174 169Investment and insurance contracts on account ofsegregated fund policyholders 104,948 96,582 Total liabilities 244,940 230,461 574 569Equity Non‐participating shares 977 779 977 779Participating shareholders’ equity 9,122 9,046 9,122 9,046Non‐controlling interests [2] 16,606 15,210 Total equity 26,705 25,035 10,099 9,825Total liabilities and equity 271,645 255,496 10,673 10,394[1] Under the equity basis presentation, cash equivalents include $521 million ($365 million at December 31, 2011) of fixed income securities withmaturities of more than 90 days. In the Consolidated Financial Statements, this amount of cash equivalents is classified in investments.[2] Non‐controlling interests include the Corporation’s non‐controlling interests in the common equity of Power Financial as well as theparticipating account surplus in Lifeco’s insurance subsidiaries and perpetual preferred shares issued by subsidiaries to third parties.CONSOLIDATEDBASISThe consolidated balance sheets include Power Financial’s, Lifeco’s and IGM’s assets and liabilities. Parts B, C andD of this MD&A relating to these subsidiaries include a presentation of their balance sheets.Total assets of the Corporation increased to $271.6 billion at December 31, 2012, compared with $255.5 billion atDecember 31, 2011.Investments at December 31, 2012 were $125.7 billion, a $6.7 billion increase from December 31, 2011,primarily related to Lifeco’s activities. See also the discussion in the “Cash Flows” section below.Liabilities increased from $230.5 billion at December 31, 2011 to $244.9 billion at December 31, 2012, mainlydue to an increase in Lifeco’s insurance and investment contract liabilities as well as investment and insurancecontracts on account of segregated fund policyholders.A 12POWER CORPORATION OF CANADA