| Summary (in millions of US dollars except share, per-share and tonnage amounts) | |||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | |
| Net income (loss) 1 | 1,103.6 | 631.8 | 542.9 | 298.6 | (126.3) | 53.6 | 121.2 | 198.0 | (412.0) | 261.0 | 297.1 |
| Net income (loss) share – diluted | 3.40 | 1.98 | 1.63 | 0.90 | (0.40) | 0.17 | 0.39 | 0.63 | (1.27) | 0.80 | 0.94 |
| EBITDA 2 | 1,879.8 | 1,117.9 | 1,135.0 | 754.3 | 171.8 | 386.0 | 455.4 | 513.8 | (161.9) | 633.2 | 612.0 |
| Cash flow prior to working capital changes 3 | 1,525.3 | 940.8 | 860.3 | 538.3 | 368.5 | 289.2 | 345.8 | 405.1 | 319.6 | 556.2 | 489.3 |
| Cash provided by operating activities | 1,688.9 | 696.8 | 865.1 | 658.3 | 385.5 | 316.4 | 75.7 | 480.4 | 343.6 | 578.0 | 467.8 |
| Return on assets | 11.4% | 10.2% | 10.1% | 5.8% | (2.8%) | 1.1% | 2.6% | 4.8% | (10.5%) | 5.8% | 6.7% |
| Cash flow return 4 | 20.4% | 14.5% | 14.7% | 11.1% | 2.9% | 6.3% | 8.5% | 10.5% | (3.7%) | 12.6% | 13.0% |
| Weighted average cost of capital | 10.0% | 8.8% | 8.3% | 8.4% | 7.3% | 7.3% | 7.7% | 8.7% | 8.7% | 8.3% | 8.8% |
| Total shareholder return | 201.6% | 79.6% | (2.7%) | 93.4% | 37.5% | 5.2% | (20.4%) | 64.6% | (23.0%) | (21.9%) | (1.1%) |
| Total debt to capital | 19.2% | 40.8% | 41.5% | 36.4% | 42.3% | 41.7% | 42.1% | 31.1% | 31.9% | 29.5% | 35.7% |
| Net debt to capital 5 | 10.6% | 36.4% | 39.9% | 27.5% | 42.2% | 41.3% | 41.3% | 28.7% | 30.8% | 28.1% | 35.5% |
| Reconciliations and Calculations (in millions of US dollars except share, per-share and tonnage amounts) | |||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | |
| Net income (loss) 1 | 1,103.6 | 631.8 | 542.9 | 298.6 | (126.3) | 53.6 | 121.2 | 198.0 | (412.0) | 261.0 | 297.1 |
| Income taxes | 416.2 | 158.1 | 267.4 | 131.7 | (20.6) | 30.2 | 68.2 | 67.2 | 7.5 | 117.5 | 69.1 |
| Interest expense | 68.7 | 85.6 | 82.3 | 84.0 | 91.3 | 83.1 | 80.3 | 61.6 | 51.5 | 63.8 | 75.8 |
| Depreciation and amortization | 291.3 | 242.4 | 242.4 | 240.0 | 227.4 | 219.1 | 185.7 | 187.0 | 191.1 | 190.9 | 170.0 |
| EBITDA 2 | 1,879.8 | 1,117.9 | 1,135.0 | 754.3 | 171.8 | 386.0 | 455.4 | 513.8 | (161.9) | 633.2 | 612.0 |
5-year CAGR 7 |
37.2% | ||||||||||
| 10-year CAGR 7 | 11.9% | ||||||||||
| Cash flow prior to working capital changes 3 | 1,525.3 | 940.8 | 860.3 | 538.3 | 368.5 | 289.2 | 345.8 | 405.1 | 319.6 | 556.2 | 489.3 |
| Accounts receivable | (154.6) | 11.0 | (107.6) | (51.9) | (39.5) | (11.1) | 69.9 | (52.2) | 33.8 | 48.8 | 23.5 |
| Inventories | 60.3 | 13.9 | (119.9) | (10.5) | 11.8 | (18.2) | (76.1) | (27.4) | (16.1) | (7.9) | 19.9 |
| Prepaid expenses and other current assets | 7.0 | 0.2 | (5.8) | (6.3) | 11.4 | (3.9) | 2.3 | (3.1) | 3.2 | (16.6) | 3.7 |
| Accounts payable and accrued charges | 250.9 | (269.1) | 238.1 | 188.7 | 33.3 | 60.4 | (266.2) | 158.0 | 3.1 | (2.5) | (68.6) |
| Changes in non-cash operating working capital | 163.6 | (244.0) | 4.8 | 120.0 | 17.0 | 27.2 | (270.1) | 75.3 | 24.0 | 21.8 | (21.5) |
| Cash provided by operating activities | 1,688.9 | 696.8 | 865.1 | 658.3 | 385.5 | 316.4 | 75.7 | 480.4 | 343.6 | 578.0 | 467.8 |
| Net income (loss) | 1,103.6 | 631.8 | 542.9 | 298.6 | (126.3) | 53.6 | 121.2 | 198.0 | (412.0) | 261.0 | 297.1 |
| Total assets | 9,716.6 | 6,217.0 | 5,357.9 | 5,126.8 | 4,567.3 | 4,685.6 | 4,597.3 | 4,145.7 | 3,916.8 | 4,534.3 | 4,427.6 |
| Return on assets | 11.4% | 10.2% | 10.1% | 5.8% | (2.8%) | 1.1% | 2.6% | 4.8% | (10.5%) | 5.8% | 6.7% |
| Net income (loss) | 1,103.6 | 631.8 | 542.9 | 298.6 | (126.3) | 53.6 | 121.2 | 198.0 | (412.0) | 261.0 | 297.1 |
| Income taxes | 416.2 | 158.1 | 267.4 | 131.7 | (20.6) | 30.2 | 68.2 | 67.2 | 7.5 | 117.5 | 69.1 |
| Interest expense | 68.7 | 85.6 | 82.3 | 84.0 | 91.3 | 83.1 | 80.3 | 61.6 | 51.5 | 63.8 | 75.8 |
| Current income taxes | (296.6) | (108.1) | (227.3) | (105.4) | – | (24.2) | (20.5) | (32.6) | (14.7) | (19.4) | (34.6) |
| Depreciation and amortization | 291.3 | 242.4 | 242.4 | 240.0 | 227.4 | 219.1 | 185.7 | 187.0 | 191.1 | 190.9 | 170.0 |
| Cash flow 4 | 1,583.2 | 1,009.8 | 907.7 | 648.9 | 171.8 | 361.8 | 434.9 | 481.2 | (176.6) | 613.8 | 577.4 |
| Total assets | 9,716.6 | 6,217.0 | 5,357.9 | 5,126.8 | 4,567.3 | 4,685.6 | 4,597.3 | 4,145.7 | 3,916.8 | 4,534.3 | 4,427.6 |
| Cash and cash equivalents | (719.5) | (325.7) | (93.9) | (458.9) | (4.7) | (24.5) | (45.3) | (100.0) | (44.0) | (68.0) | (8.8) |
| Fair value of natural gas hedging derivative assets | (127.6) | – | – | – | – | – | – | – | – | – | – |
| Accumulated depreciation of property, plant and equipment | 2,280.7 | 2,073.8 | 1,927.7 | 1,754.9 | 1,576.2 | 1,454.7 | 1,274.3 | 1,111.8 | 951.0 | 812.4 | 662.0 |
| Net unrealized gains on available-for-sale securities | (2,284.1) | – | – | – | – | – | – | – | – | – | – |
| Accumulated amortization of other assets and intangible assets | 47.0 | 72.6 | 66.4 | 65.1 | 70.1 | 59.1 | 42.0 | 38.0 | 42.0 | 49.2 | 17.7 |
| Accumulated amortization of goodwill | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 7.3 | 4.3 | 1.4 | 27.4 | 12.7 |
| Accounts payable and accrued charges | (911.7) | (545.2) | (842.7) | (599.9) | (380.3) | (347.0) | (271.4) | (525.9) | (349.1) | (349.7) | (348.1) |
| Adjusted assets | 8,008.7 | 7,499.8 | 6,422.7 | 5,895.3 | 5,835.9 | 5,835.2 | 5,604.2 | 4,673.9 | 4,518.1 | 5,005.6 | 4,763.1 |
| Average adjusted assets | 7,754.3 | 6,961.3 | 6,159.0 | 5,865.6 | 5,835.6 | 5,719.7 | 5,139.1 | 4,596.0 | 4,761.9 | 4,884.4 | 4,447.0 |
| Cash flow return 4 | 20.4% | 14.5% | 14.7% | 11.1% | 2.9% | 6.3% | 8.5% | 10.5% | (3.7%) | 12.6% | 13.0% |
| Weighted average cost of capital | 10.0% | 8.8% | 8.3% | 8.4% | 7.3% | 7.3% | 7.7% | 8.7% | 8.7% | 8.3% | 8.8% |
| End of year closing price (dollars) | 143.96 | 47.83 | 26.74 | 27.69 | 14.41 | 10.60 | 10.23 | 13.05 | 8.03 | 10.65 | 13.83 |
| Beginning of year opening price (dollars) | 47.83 | 26.74 | 27.69 | 14.41 | 10.60 | 10.23 | 13.05 | 8.03 | 10.65 | 13.83 | 14.17 |
| Change in share price (dollars) | 96.13 | 21.09 | (0.95) | 13.28 | 3.81 | 0.37 | (2.82) | 5.02 | (2.62) | (3.18) | (0.34) |
| Dividends paid per share (dollars) | 0.30 | 0.20 | 0.20 | 0.18 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.16 | 0.17 |
| Total shareholder return | 201.6% | 79.6% | (2.7%) | 93.4% | 37.5% | 5.3% | (20.3%) | 64.6% | (23.0%) | (21.8%) | (1.2%) |
| Short-term debt | 90.0 | 157.9 | 252.2 | 93.5 | 176.2 | 473.0 | 501.1 | 488.8 | 474.5 | 94.9 | 101.9 |
| Current portion of long-term debt | 0.2 | 400.4 | 1.2 | 10.3 | 1.3 | 3.4 | – | 5.7 | 7.4 | 0.4 | 2.7 |
| Long-term debt | 1,339.4 | 1,357.1 | 1,257.6 | 1,258.6 | 1,268.6 | 1,019.9 | 1,013.7 | 413.7 | 437.0 | 933.3 | 1,130.0 |
| Total debt | 1,429.6 | 1,915.4 | 1,511.0 | 1,362.4 | 1,446.1 | 1,496.3 | 1,514.8 | 908.2 | 918.9 | 1,028.6 | 1,234.6 |
| Cash and cash equivalents | (719.5) | (325.7) | (93.9) | (458.9) | (4.7) | (24.5) | (45.3) | (100.0) | (44.0) | (68.0) | (8.8) |
| Net debt 5 | 710.1 | 1,589.7 | 1,417.1 | 903.5 | 1,441.4 | 1,471.8 | 1,469.5 | 808.2 | 874.9 | 960.6 | 1,225.8 |
| Shareholders’ equity | 6,018.7 | 2,780.3 | 2,132.5 | 2,385.6 | 1,973.8 | 2,092.5 | 2,086.5 | 2,012.1 | 1,962.4 | 2,453.8 | 2,227.9 |
| Total debt to capital | 19.2% | 40.8% | 41.5% | 36.4% | 42.3% | 41.7% | 42.1% | 31.1% | 31.9% | 29.5% | 35.7% |
| Net debt to capital 5 | 10.6% | 36.4% | 39.9% | 27.5% | 42.2% | 41.3% | 41.3% | 28.7% | 30.8% | 28.1% | 35.5% |
| Current assets | 1,811.3 | 1,310.2 | 1,110.8 | 1,243.6 | 733.9 | 832.0 | 819.6 | 871.7 | 726.2 | 774.2 | 734.5 |
| Current liabilities | (1,001.9) | (1,103.5) | (1,096.1) | (703.7) | (557.8) | (823.4) | (772.5) | (1,020.4) | (831.0) | (445.0) | (452.8) |
| Working capital | 809.4 | 206.7 | 14.7 | 539.9 | 176.1 | 8.6 | 47.1 | (148.7) | (104.8) | 329.2 | 281.7 |
| Cash and cash equivalents | (719.5) | (325.7) | (93.9) | (458.9) | (4.7) | (24.5) | (45.3) | (100.0) | (44.0) | (68.0) | (8.8) |
| Short-term debt | 90.0 | 157.9 | 252.2 | 93.5 | 176.2 | 473.0 | 501.1 | 488.8 | 474.5 | 94.9 | 101.9 |
| Current portion of long-term debt | 0.2 | 400.4 | 1.2 | 10.3 | 1.3 | 3.4 | – | 5.7 | 7.4 | 0.4 | 2.7 |
| Non-cash operating working capital | 180.1 | 439.3 | 174.2 | 184.8 | 348.9 | 460.5 | 502.9 | 245.8 | 333.1 | 356.5 | 377.5 |
| Sales | 5,234.2 | 3,766.7 | 3,847.2 | 3,244.4 | 2,799.0 | 2,224.4 | 2,380.8 | 2,542.9 | 2,355.6 | 2,607.0 | 2,620.0 |
| Freight | 346.1 | 255.8 | 249.7 | 238.7 | 234.5 | 215.2 | 216.7 | 222.1 | 212.5 | 216.5 | 226.6 |
| Transportation and distribution | 124.1 | 134.1 | 121.9 | 104.3 | 98.7 | 80.5 | 83.3 | 83.1 | 77.0 | 77.9 | 61.7 |
| Net sales 6 | 4,764.0 | 3,376.8 | 3,475.6 | 2,901.4 | 2,465.8 | 1,928.7 | 2,080.8 | 2,237.7 | 2,066.1 | 2,312.6 | 2,331.7 |
| Potash net sales | |||||||||||
North American |
656.9 | 470.5 | 495.6 | 347.5 | 230.6 | 215.3 | 232.1 | 237.8 | 237.4 | 227.6 | 210.2 |
Offshore |
909.6 | 576.0 | 668.3 | 504.6 | 336.2 | 300.7 | 293.4 | 340.9 | 325.9 | 317.9 | 294.0 |
Miscellaneous and purchased products |
13.5 | 11.7 | 13.0 | 42.7 | 52.3 | 28.5 | 6.3 | 3.4 | 2.3 | 2.9 | 3.8 |
| Total | 1,580.0 | 1,058.2 | 1,176.9 | 894.8 | 619.1 | 544.5 | 531.8 | 582.1 | 565.6 | 548.4 | 508.0 |
| Potash sales (thousands KCl tonnes) | |||||||||||
North American |
3,471 | 2,785 | 3,144 | 3,246 | 2,870 | 2,780 | 2,894 | 2,939 | 2,871 | 2,702 | 3,017 |
Offshore |
5,929 | 4,411 | 5,020 | 5,030 | 4,213 | 3,547 | 3,349 | 3,973 | 3,603 | 3,581 | 3,623 |
| Total | 9,400 | 7,196 | 8,164 | 8,276 | 7,083 | 6,327 | 6,243 | 6,912 | 6,474 | 6,283 | 6,640 |
| Weighted average shares outstanding | |||||||||||
Basic (thousands) |
315,641 | 311,880 | 325,704 | 323,901 | 313,380 | 312,126 | 311,274 | 314,460 | 325,380 | 325,062 | 313,650 |
Diluted (thousands) |
324,308 | 318,689 | 333,234 | 332,217 | 313,380 | 313,896 | 313,116 | 316,218 | 325,380 | 327,009 | 316,926 |
| Certain of the prior years' figures have been reclassified to conform with the current year's presentation. | |||||||||||
| See footnotes. | |||||||||||
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