Nexen Inc. Consolidated Balance Sheet

December 31, 2008 and 2007

 

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Cdn$ millions, except share amounts

2008

2007

See accompanying notes to Consolidated Financial Statements.

ASSETS

 

 

Current Assets

 

 

Cash and Cash Equivalents

2,003

206

Restricted Cash

103

203

Accounts Receivable (Note 2)

3,163

3,502

Inventories and Supplies (Note 3)

484

659

Other

169

89

Total Current Assets

5,922

4,659

 

 

 

Property, Plant and Equipment (Note 4)

14,922

12,498

Goodwill

390

326

Future Income Tax Assets (Note 18)

351

268

Deferred Charges and Other Assets (Note 6)

570

324

 

 

 

TOTAL ASSETS

22,155

18,075

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

Current Liabilities

 

 

Accounts Payable and Accrued Liabilities (Note 9)

3,326

4,180

Accrued Interest Payable

67

54

Dividends Payable

26

13

Total Current Liabilities

3,419

4,247

 

 

 

Long-Term Debt (Note 10)

6,578

4,610

Future Income Tax Liabilities (Note 18)

2,619

2,290

Asset Retirement Obligations (Note 12)

1,024

792

Deferred Credits and Other Liabilities (Note 13)

1,324

459

Non-Controlling Interests

52

67

Shareholders’ Equity (Note 15)

 

 

Common Shares, no par value

 

 

Authorized:

Unlimited

 

 

Outstanding:

2008 — 519,448,590 shares
2007 — 528,304,813 shares

981

917

Contributed Surplus

2

3

Retained Earnings

6,290

4,983

Accumulated Other Comprehensive Loss

(134)

(293)

Total Shareholders’ Equity

7,139

5,610

Commitments, Contingencies and Guarantees
(Notes 16 and 18)

 

 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

22,155

18,075

Approved on behalf of the Board:

(signed) “Marvin F. Romanow
Director

(signed) “Thomas C. O’Neill
Director