SU » Topics » Net Earnings Components

This excerpt taken from the SU 6-K filed Apr 23, 2009.

Net Earnings Components

This table explains some of the factors impacting net earnings on an after-tax basis. For comparability purposes, readers should rely on the reported net earnings presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

Three months ended March 31

   

($ millions, after-tax)

    2009     2008    
 

Earnings before the following items:

    227     805    
 

Mark-to-market accounting loss on commodity derivatives

    (132 )   (17 )  
 

Costs related to deferral of growth projects

    (125 )      
 

Unrealized foreign exchange loss on U.S. dollar denominated long-term debt

    (148 )   (75 )  
 

Project start-up costs

    (11 )   (5 )  
 

Net earnings as reported

    (189 )   708    
 

 
Analysis of Segmented Earnings and Cash Flows

This excerpt taken from the SU 6-K filed Jan 20, 2009.

Net Earnings Components

This table sets forth some of the factors impacting Suncor's net earnings.

($ millions, after-tax)

    Three months ended
December 31
    Years ended
December 31
   

(unaudited)

    2008     2007     2008     2007    
 

Earnings before the following items:

    434     677     3 013     2 390    
 

Impact of income tax rate changes on opening future income tax liabilities (1)

        360         427    
 

Unrealized foreign exchange gain (loss) on U.S. dollar denominated long-term debt

    (645 )   16     (852 )   215    
 

Project start-up costs

    (4 )   (11 )   (24 )   (49 )  
 

Net earnings (loss) as reported

    (215 )   1 042     2 137     2 983    
 
(1)
Reflects Q4 2007 federal rate reduction of 3.5% and Q2 2007 federal rate reduction of 0.5%.
This excerpt taken from the SU 6-K filed Jul 24, 2008.

Net Earnings Components

This table explains some of the factors impacting net earnings on an after-tax basis. For comparability purposes, readers should rely on the reported net earnings presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

    Three months ended June 30   Six months ended June 30    
($ millions, after-tax)   2008   2007   2008   2007    

Earnings before the following items:   821   607   1 609   1 175    
  Unrealized foreign exchange gain (loss) on U.S. dollar denominated long-term debt   18   81   (57 ) 91    
  Impact of income tax rate reductions on opening future income tax liabilities     67     67    
  Project start-up costs   (10 ) (17 ) (15 ) (19 )  

Net earnings as reported   829   738   1 537   1 314    

 
This excerpt taken from the SU 6-K filed Apr 24, 2008.

Net Earnings Components

This table explains some of the factors impacting net earnings on an after-tax basis. For comparability purposes, readers should rely on the reported net earnings presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

Three months ended March 31    
($ millions, after-tax)   2008   2007    

Earnings before the following items:   788   567    
  Unrealized foreign exchange gain (loss) on U.S. dollar denominated long-term debt   (75 ) 11    
  Project start-up costs   (5 ) (2 )  

Net earnings as reported   708   576    

Suncor Energy Inc.            
Inquiries John Rogers (403) 269-8670                                                                                                                                      2008 First Quarter    005


 
This excerpt taken from the SU 6-K filed Apr 26, 2007.

Net Earnings Components

This table explains some of the factors impacting net earnings on an after-tax basis. For comparability purposes, readers should rely on the reported net earnings presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

($ millions, after-tax)

 

Q1 2007

 

Q1 2006

 

Net earnings before the following items

 

539

 

522

 

Firebag in-situ start-up costs

 

 

(13

)

Oil Sands fire accrued insurance proceeds (1)

 

 

205

 

Unrealized foreign exchange gain (loss) on U.S. dollar denominated long-term debt

 

12

 

(1

)

Net earnings as reported

 

551

 

713

 

(1)     Accrued business interruption proceeds net of income taxes and Alberta Crown royalties.

This excerpt taken from the SU 6-K filed May 4, 2006.

NET EARNINGS COMPONENTS

 

This table explains the material factors impacting net earnings on an after-tax basis. For comparability purposes readers should rely on the reported net earnings that are presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

 

($ millions, after tax)

 

Q1 2006

 

Q1 2005

 

Net earnings before the following items

 

522

 

40

 

Firebag Stage 2 start-up costs

 

(13

)

 

Unrealized foreign exchange gain/loss on U.S. dollar denominated debt

 

(1

)

(5

)

Oil Sands fire accrued insurance proceeds (1)

 

205

 

32

 

Net earnings as reported

 

713

 

67

 

 


(1)   Accrued business interruption proceeds of $385 million (US$330 million) net of income taxes and Alberta Crown royalties. For discussion see pages 7 and 8.

 

This excerpt taken from the SU 6-K filed Apr 29, 2005.

NET EARNINGS COMPONENTS

 

This table explains some of the factors impacting net earnings on an after-tax basis. For comparability purposes readers should rely on the reported net earnings that are presented in our unaudited interim consolidated financial statements and notes in accordance with Canadian GAAP.

 

 

 

3 months ended March 31

 

($ millions, after tax)

 

2005

 

2004

 

Net earnings before the following items

 

62

 

198

 

Firebag in-situ start-up costs

 

 

(14

)

Oil Sands fire accrued insurance proceeds (net), excluding incremental Alberta Crown royalties

 

41

 

 

Impact of income tax rate reductions on opening future income tax liabilities

 

 

53

 

Unrealized foreign exchange losses on U.S. dollar denominated long-term debt

 

(5

)

(21

)

Net earnings as reported

 

98

 

216

 

 

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