Financial Information Act Return - BC Hydro
Financial Information Act Return - BC Hydro
Financial Information Act Return - BC Hydro
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Consolidated Statement of Operations<br />
for the years ended March 31 (in millions) 2003 2002<br />
Revenues<br />
Domestic<br />
Residential $ 923 $ 930<br />
Light industrial and commercial 893 874<br />
Large industrial 516 482<br />
Other energy sales 88 89<br />
Miscellaneous 55 75<br />
2,475 2,450<br />
Electricity trade 1,932 3,861<br />
4,407 6,311<br />
Expenses<br />
Energy costs (Note 2) 2,426 4,407<br />
Operations, maintenance and administration 573 550<br />
Depreciation and amortization (Note 3) 417 386<br />
Taxes (Note 4) 145 166<br />
3,561 5,509<br />
Income Before Finance Charges, Restructuring Costs and<br />
Transfer from Rate Stabilization Account 846 802<br />
Finance charges (Note 5) 457 544<br />
Income Before Restructuring Costs and Transfer from<br />
Rate Stabilization Account 389 258<br />
Restructuring Costs (Note 14) 37 –<br />
Income Before Transfer from Rate Stabilization Account 352 258<br />
Transfer from Rate Stabilization Account (Note 1) (66) (145)<br />
Net Income $ 418 $ 403<br />
Consolidated Statement of Retained Earnings<br />
for the years ended March 31 (in millions) 2003 2002<br />
Retained earnings, beginning of year $1,529 $1,459<br />
Net income 418 403<br />
Payment to the Province (Note 1) (338) (333)<br />
Retained Earnings, end of year $1,609 $1,529<br />
See accompanying notes to consolidated financial statements.
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