2003 Annual Report
 
 
   
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  Directors and Officers

  Corporate Information

Print friendly pdf of Form 10-K Part II
Part II

  Item 8    Notes to Consolidated Financial Statements
 
26.   Supplementary Information

Operating revenue and related cost of goods sold and services for continuing operations comprised the following:

(Stated in millions)
 
 
Year ended December 31, 2003 2002 2001

Operating revenue
           
Products $ 3,947   $ 3,605   $ 4,421
Services 9,946     9,513     9,335
  $ 13,893   $ 13,118   $ 13,756
Direct operating costs            
Goods sold $ 2,656   $ 1,749   $ 2,540
Services 8,122     8,441     7,766
  $ 10,778   $ 10,190   $ 10,306
 
 
Cash paid for interest and income taxes for continuing operations was as follows:

 
 
(Stated in millions)        
Year ended December 31, 2003 2002 2001

Interest
$354   $373   $363
Income taxes $150   $251   $298
 
 
Accounts payable and accrued liabilities are summarized as follows:

 
 
(Stated in millions)      
As at December 31, 2003   2002

Payroll, vacation and employee benefits
$ 773   $ 957
Trade 800     999
Taxes, other than income 160     245
Accrued expenses 1,026     1,266
Other 489     1,114
  $ 3,248   $ 4,581
 
 
Interest and other income includes the following :

 
 
(Stated in millions)            
Year ended December 31, 2003 2002 2001

Interest income
$ 52   $ 69   $ 159
Equity in net earnings of affiliated companies 75     64     62
Gain on sale of Hanover Compressor note 32        
Gain on sale of investments 2        
Gain on sale of financial instruments 5     6     21
  $ 166   $ 139   $ 242
 
 
Allowance for doubful accounts is as follows:

 
 
(Stated in millions)        
Year ended December 31, 2003 2002  

Balance at beginning of year
$ 173 $ 145  
Provision in year 55   66  
Written off in year (65 )   (47 )
Reclassified to Assets held for Sale (36 )    
Other1 1   9  
Balance at end of year $ 128 $ 173  
 
 
1    Includes business acquisitions and divestitures

 
 



Go to Part II, Item 8, Report of Independent Auditors