2004 Crown Investments Corporation of Saskatchewan Annual Report
2004 Crown Investments Corporation of Saskatchewan Annual Report
2004 Crown Investments Corporation of Saskatchewan Annual Report
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Notes to Consolidated Financial StatementsDecember 31, <strong>2004</strong>13. Commitments and Contingencies (continued)l) The <strong>Corporation</strong> is the defendant to several unresolved statements <strong>of</strong> claim, and has provided for theseclaims in its accounts in accordance with the advice received from legal counsel. The <strong>Corporation</strong>intends to account for any differences which may arise, between amounts provided and amountsexpended, in the period in which the claims are resolved.14. Interest Expense(thousands <strong>of</strong> dollars)<strong>2004</strong> 2003Interest on long-term debtForeign exchange gainsAmortization <strong>of</strong> deferred financing costs$273,378 $ 277,218(6,450) (150,011)1,9581,987Less:Sinking fund earningsInterest capitalizedLong-term debt interest expenseShort-term debt interest expense268,886(13,781)(5,834)(19,615)249,2713,648129,194(8,506)(2,819)(11,325)117,8694,484$252,919$122,353Interest paid during the year, on a cash basis, was $274.6 million (2003 - $283.5 million).15. <strong>Saskatchewan</strong> Taxes and Resource Payments(thousands <strong>of</strong> dollars)<strong>2004</strong> 2003Grants in lieu <strong>of</strong> taxes to municipalities<strong>Saskatchewan</strong> capital taxInsurance premium taxOther$44,46227,19711,5374,146$46,20932,89610,8778,391$87,342$98,37382
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