| (millions of Canadian dollars) |
|
|
|
|
| Year ended December 31, |
|
2005
|
|
2004 |
| Cash Provided By Operating Activities |
|
|
|
|
| Earnings |
|
35.3 |
|
15.2 |
| Charges/(credits) not affecting cash |
|
|
|
|
| Depreciation and amortization |
|
78.0 |
|
77.5 |
| Amortization of deferred financing charges |
|
1.8 |
|
2.2 |
| Accretion on asset retirement obligations |
|
0.5 |
|
0.4 |
| Amortization of fair value increment on debt |
|
(5.2) |
|
(5.5) |
| Future income taxes |
|
(20.2) |
|
(4.2) |
| Other |
|
– |
|
0.3 |
| Changes in operating assets and liabilities |
|
|
|
|
| Change in accounts receivable and other |
|
6.6 |
|
(6.2) |
| Change in accounts payable and accrued liabilities |
|
7.0 |
|
4.6 |
| Change in deferred amounts and other assets |
|
(17.3) |
|
(0.1) |
| |
|
86.5 |
|
84.2 |
| Investing Activities |
|
|
|
|
| Acquisition of wind assets (Note 6) |
|
(42.1) |
|
– |
| Additions to property, plant and equipment |
|
(32.8) |
|
(15.5) |
| Change in construction payable |
|
(4.6) |
|
0.4 |
| |
|
(79.5) |
|
(15.1) |
| Financing Activities |
|
|
|
|
| Net change in long-term credit facility |
|
58.0 |
|
(6.0) |
| Net change in non-recourse long-term credit facility |
|
1.3 |
|
6.3 |
| Repayment of non-recourse long-term debt |
|
(27.9) |
|
(41.4) |
| Ordinary and subordinated trust unit distributions |
|
(32.1) |
|
(31.5) |
| Financing fees |
|
– |
|
(0.2) |
| |
|
(0.7) |
|
(72.8) |
| Increase/(Decrease) in Cash and Cash Equivalents |
|
6.3 |
|
(3.7) |
| Cash and Cash Equivalents at Beginning of Year |
|
11.1 |
|
14.8 |
| Cash and Cash Equivalents at End of Year |
|
17.4 |
|
11.1 |
| |
|
|
|
|
| Cash and Cash Equivalents |
|
13.4 |
|
2.5 |
| Cash and Cash Equivalents in Trust |
|
4.0 |
|
8.6 |
| |
|
17.4 |
|
11.1 |
| The accompanying notes to the consolidated financial statements are an integral part of these statements. |
