Brascan Corporation - Announcement.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 3, 2001 Brascan Corporation (BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) : NYSE NYSE See: New York Stock Exchange , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ) filed with SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review its most recent quarterly Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: Statement of Income. The re-filed income statement and explanatory ex·plan·a·to·ry adj. Serving or intended to explain: an explanatory paragraph. ex·plan note, as attached to this release, conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" recently filed prospectuses and are unchanged with respect to previously reported net income levels. Brascan Corporation owns and operates real estate, power generating, financial and natural resource businesses, located principally in North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . The Company's goal is to build long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. shareholder value by creating sustainable cash flows generated from high quality assets and by continuously developing new opportunities for future growth. Brascan is listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol BNN. For more information, please visit our web site at www.brascancorp.com or contact the following individuals:
Media:
Robert J. Harding
Chairman
416-363-9491
Investors and Financial Analysts:
Richard Legault
Senior Vice-President and
Chief Financial Officer
416-956-5183
Katherine C. Vyse
Vice-President,
Investor Relations
416-369-8246
Consolidated Statement of Income (unaudited)
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Three months ended Nine months ended
September 30 September 30
MILLIONS, EXCEPT
PER SHARE AMOUNTS 2001 2000 2001 2000
===============================================================
Revenue
Financial and other
operations $249 $255 $727 $701
Energy operations 59 42 185 157
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308 297 912 858
Property operations
equity earnings 37 25 129 81
Natural resources
equity earnings (22) 36 (4) 123
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323 358 1,037 1,062
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Expenses
Operating 149 144 453 428
Interest 70 65 204 190
Minority interests 31 40 102 120
Taxes and other provisions 3 3 12 27
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253 252 771 765
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Income from continuing
operations 70 106 266 297
Income and gain
on sale of discontinued
operations (Note 6) - - - 260
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Net income $70 $106 $266 $557
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Per basic Class A
and Class B common share
Income from continuing
operations $0.36 $0.57 $1.36 $1.53
Net income $0.36 $0.57 $1.36 $3.02
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Per diluted Class A
and Class B common share
Income from continuing
operations $0.35 $0.55 $1.35 $1.51
Net income $0.35 $0.55 $1.35 $2.96
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Explanation Note on Group Revenues
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Three months ended Nine months ended
September 30 September 30
MILLIONS, EXCEPT
PER SHARE AMOUNTS 2001 2000 2001 2000
===============================================================
Group revenues $3,170 $3,254 $9,739 $9,892
Energy operations 2,862 2.957 8,827 9,034
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Consolidated revenues 308 297 912 858
Equity earnings
of affiliates 15 61 125 204
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$323 $358 $1,037 $1,062
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Group revenues include all revenue of the Company, its subsidiaries and its equity-accounted investees. |
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