This report contains non-GAAP financial measures. Net earnings available to
common shareholders, which is a financial measure in accordance with
Canadian generally accepted accounting principles (GAAP), may be subdivided
into two components consisting of:
- Operating earnings available to common shareholders; and
- Other items, which include the after-tax impact of any item that management
considers to be of a non-recurring nature or that could make the
period-over-period comparison of results from operations less meaningful.
Terms by which non-GAAP financial measures are identified include but are not
limited to “operating earnings available to common shareholders”, “operating
earnings per share”, “operating return on average common equity” and other
similar expressions used to provide management and investors with additional
measures to assess earnings performance. As well, “earnings before interest
and taxes (EBIT)” and “earnings before interest, taxes, depreciation
and amortization (EBITDA)” are non-GAAP financial measures used to
provide management, investors and investment analysts with additional
measures to evaluate and analyze the Company’s results. However, non-GAAP
financial measures do not have standard meanings prescribed by GAAP and are
not directly comparable to similar measures used by other companies. Please
refer to the appropriate reconciliations of these non-GAAP financial measures
to measures prescribed by GAAP.
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