| For the years ended December 30, 2006 and December 31, 2005 ($ millions except where otherwise indicated) |
2006 (52 weeks) |
2005 (52 weeks) |
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|---|---|---|---|---|
Operating Activities |
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| Net (loss) earnings before minority interest | $ | (218) | $ | 749 |
| Depreciation and amortization | 590 | 558 | ||
| Goodwill impairment (note 3 PDF) | 800 | - | ||
| Restructuring and other charges (note 4 PDF) | 44 | 86 | ||
| Goods and Services Tax and provincial sales taxes (note 5 PDF) | - | 40 | ||
| Future income taxes | (18) | 90 | ||
| Change in non-cash working capital | (69) | (51) | ||
| Other | 51 | 17 | ||
| Cash Flows from Operating Activities | 1,180 | 1,489 | ||
Investing Activities |
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| Fixed asset purchases | (937) | (1,156) | ||
| Short term investments | (323) | 271 | ||
| Proceeds from fixed asset sales | 99 | 109 | ||
| Credit card receivables, after securitization (note 11 PDF) | (82) | (84) | ||
| Franchise investments and other receivables | (18) | 53 | ||
| Other | (47) | (96) | ||
| Cash Flows used in Investing Activities | (1,308) | (903) | ||
Financing Activities |
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| Bank indebtedness | (29) | (17) | ||
| Commercial paper | 211 | (37) | ||
| Long term debt (note 16 PDF) | ||||
| Issued | 29 | 333 | ||
| Retired | (162) | (240) | ||
| Common share capital | ||||
| Issued (notes 18 and 19 PDFs) | 4 | 1 | ||
| Retired (note 18 PDF) | - | (16) | ||
| Dividends | (173) | (230) | ||
| Other | - | (2) | ||
| Cash Flows used in Financing Activities | (120) | (208) | ||
| Effect of foreign currency exchange rate changes on cash and cash equivalents (note 10 PDF) | 1 | (31) | ||
| Initial impact of variable interest entities (note 2 PDF) | - | 20 | ||
| Change in Cash and Cash Equivalents | (247) | 367 | ||
| Cash and Cash Equivalents, Beginning of Year | 916 | 549 | ||
Cash and Cash Equivalents, End of Year |
$ | 669 | $ | 916 |
See accompanying notes to the consolidated financial statements. |
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