FRA:CY2 Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	350	389	475	328	838
Cash & Short-Term Investments	350	389	475	328	838
Cash Growth	-10.03%	-18.11%	44.82%	-60.86%	47.28%
Accounts Receivable	1,117	1,164	1,300	1,371	1,074
Other Receivables	-	143	-	46	-
Receivables	1,117	1,307	1,300	1,417	1,074
Inventory	734	720	699	692	589
Prepaid Expenses	208	113	133	186	142
Restricted Cash	13	12	449	506	503
Other Current Assets	49	78	33	88	280
Total Current Assets	2,471	2,619	3,089	3,217	3,426
Property, Plant & Equipment	47,908	46,777	43,493	42,493	40,170
Long-Term Investments	111	428	402	94	119
Goodwill	100	71	70	70	70
Other Intangible Assets	1,800	1,796	1,679	1,651	1,592
Long-Term Deferred Tax Assets	611	689	682	-	-
Long-Term Deferred Charges	137	118	83	66	59
Other Long-Term Assets	5,417	4,569	3,168	3,071	3,102
Total Assets	58,555	57,067	52,666	50,662	48,538
Accounts Payable	890	1,031	968	954	903
Accrued Expenses	1,005	1,084	1,007	1,079	954
Current Portion of Long-Term Debt	902	1,165	2,309	1,056	501
Current Portion of Leases	112	135	148	126	115
Current Income Taxes Payable	430	327	310	388	309
Current Unearned Revenue	7	5	13	12	74
Other Current Liabilities	350	229	280	227	264
Total Current Liabilities	3,696	3,976	5,035	3,842	3,120
Long-Term Debt	20,299	19,722	16,126	14,363	11,974
Long-Term Leases	317	349	305	350	325
Long-Term Unearned Revenue	520	186	82	16	-
Pension & Post-Retirement Benefits	453	483	495	486	645
Long-Term Deferred Tax Liabilities	11,223	10,874	10,066	9,796	9,303
Other Long-Term Liabilities	479	426	440	425	427
Total Liabilities	36,987	36,016	32,549	29,278	25,794
Common Stock	3,454	3,474	3,512	3,613	3,704
Additional Paid-In Capital	415	372	373	381	397
Retained Earnings	18,918	18,354	18,655	19,529	20,987
Comprehensive Income & Other	-1,219	-1,149	-2,423	-2,139	-2,344
Shareholders' Equity	21,568	21,051	20,117	21,384	22,744
Total Liabilities & Equity	58,555	57,067	52,666	50,662	48,538
Total Debt	21,630	21,371	18,888	15,895	12,915
Net Cash (Debt)	-21,280	-20,982	-18,413	-15,567	-12,077
Net Cash Per Share	-34.12	-33.07	-27.94	-22.62	-17.00
Filing Date Shares Outstanding	611.4	627.3	640.7	668.5	699.8
Total Common Shares Outstanding	613.3	627.9	642.7	671	700.9
Working Capital	-1,225	-1,357	-1,946	-625	306
Book Value Per Share	35.17	33.53	31.30	31.87	32.45
Tangible Book Value	19,668	19,184	18,368	19,663	21,082
Tangible Book Value Per Share	32.07	30.55	28.58	29.30	30.08
Land	-	-	2,497	2,483	2,308
Buildings	2,552	2,425	2,227	2,175	2,016
Machinery	9,515	9,470	8,516	8,221	7,756

Source: S&P Global Market Intelligence. Standard template. Financial Sources.