Balance Sheets

Annual

(in millions of Canadian dollars)

For the year ended Dec. 31
	2009	2008
ASSETS
Current assets
Cash and cash equivalents	82	50
Accounts receivable	421	505
Collateral paid	27	37
Prepaid expenses	18	6
Risk management assets	144	200
Future income tax assets	17	3
Income taxes receivable	39	61
Inventory	90	51
	838	913
Long-term receivables	49	14
Property, plant, and equipment
Cost	11,721	9,932
Accumulated depreciation	(4,143)	(3,898)
	7,578	6,034
Goodwill	434	142
Intangible assets	333	213
Future income tax assets	204	248
Risk management assets	224	221
Other assets	102	39
Total assets	9,762	7,824
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities	521	658
Collateral received	86	24
Risk management liabilities	45	148
Income taxes payable	10	15
Future income tax liabilities	57	14
Dividends payable	61	52
Current portion of long-term debt - recourse	7	211
Current portion of long-term debt - non-recourse	24	33
Current portion of asset retirement obligations	32	45
	843	1,200
Long-term debt - recourse	3,857	2,332
Long-term debt - non-recourse	554	232
Asset retirement obligation	250	252
Deferred credits and other long-term liabilities	136	131
Future income tax liabilities	637	596
Risk management liabilities	78	102
Non-controlling interests	478	469
Common shareholders' equity
Common shares	2,169	1,761
Retained earnings	634	688
Accumulated other comprehensive income	126	61
Total shareholders’ equity	2,929	2,510
Total liabilities and shareholders’ equity	9,762	7,824

Quarterly

(in millions of Canadian dollars)

Unaudited	June 30, 2010	Dec. 31, 2009

ASSETS
Current assets
Cash and cash equivalents	43	82
Accounts receivable	372	421
Collateral paid	28	27
Prepaid expenses	25	18
Risk management assets	213	144
Income taxes receivable	111	39
Inventory	103	90
	895	821
Long-term receivables	-	49
Property, plant, and equipment
Cost	11,716	11,721
Accumulated depreciation	(3,974)	(4,143)
	7,742	7,578
Goodwill	434	434
Intangible assets	319	333
Future income tax assets	202	234
Risk management assets	265	224
Other assets	107	102
Total assets	9,964	9,775
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities	443	521
Collateral received	112	86
Risk management liabilities	34	45
Income taxes payable	5	10
Future income tax liabilities	24	45
Dividends payable	65	61
Current portion of long-term debt - recourse	232	7
Current portion of long-term debt - non-recourse	22	24
Current portion of asset retirement obligations	37	32
	974	831
Long-term debt - recourse	3,939	3,857
Long-term debt - non-recourse	544	554
Asset retirement obligation	219	250
Deferred credits and other long-term liabilities	147	136
Future income tax liabilities	654	662
Risk management liabilities	51	78
Non-controlling interests	461	478
Shareholders' equity
Common shares	2,178	2,169
Retained earnings	625	634
Accumulated other comprehensive income	172	126
Total shareholders’ equity	2,975	2,929
Total liabilities and shareholders’ equity	9,964	9,775

See accompanying notes

Last updated: July 29, 2010