/FIRST AND FINAL ADD - MO268 - ABITIBI-CONSOLIDATED INC./
24 7월 2007 - 8:30PM
PR Newswire (US)
5. Financial expenses Three months ended Six months ended June 30
June 30 2007 2006 2007 2006 $ $ $ $
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Interest on long-term debt 84 78 168 156 Amortization of deferred
financing fees - 4 - 6 Interest income (4) (1) (7) (2) Other 7 3 11
7
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87 84 172 167
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6. Income tax recovery In the second quarter of 2007, favourable
tax adjustments of $22 million are included in income tax recovery,
due to realized losses and to prospective reductions in income tax
rates ($63 million in the three months ended June 30, 2006, which
is related to the prospective reduction in the Canadian federal
income tax rate). In the six months ended June 30, 2007, favourable
income tax adjustments of $30 million are included in income tax
recovery, due to the revision of prior-period tax provisions, to
realized losses and to prospective reductions in income tax rates
($85 million in the six months ended June 30, 2006, which is
related to the settlement of prior-year income tax issues and to
the prospective reduction in the Canadian federal income tax rate).
7. Mill closure elements provision The following table provides a
reconciliation of the mill closure elements provision, which
comprises, in most part, severance and other labour-related costs
and contractual obligations, for the periods: Three months ended
Six months ended June 30 June 30 2007 2006 2007 2006 $ $ $ $
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Mill closure elements provision, beginning of period 13 22 7 38
Mill closure elements incurred during the period 12 - 20 - Payments
(13) (2) (15) (18)
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Mill closure elements provision, end of period 12 20 12 20
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The Company expects to pay most of the balance of the provision for
mill closure elements within the next twelve months. 8. Employee
future benefits The following table provides total employee future
benefit costs for the periods: Three months ended Six months ended
June 30 June 30 2007 2006 2007 2006 $ $ $ $
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Defined contribution pension plans 3 3 7 7 Defined benefit pension
plans and other benefits 40 36 77 73
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43 39 84 80
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9. Accumulated other comprehensive loss The following table
provides the components of "Accumulated other comprehensive loss"
in the consolidated balance sheets as at: June 30 December 31 2007
2006 $ $
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Foreign currency translation adjustment (375) (264) Unrealized
gains on derivative instruments designated as cash flow hedges, net
of taxes 20 -
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(355) (264)
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10. Comparative figures Certain comparative figures presented in
the consolidated financial statements have been reclassified to
conform to the current period presentation. Contacts --------
Investors: Francesco Alessi 514 394-2341 Media and Others: Denis
Leclerc 514 394-3601 DATASOURCE: ABITIBI-CONSOLIDATED INC. CONTACT:
PRNewswire - - 07/24/2007
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