Consolidated Statements OF FINANCIAL POSITION (see accompanying notes) On behalf of the Board of Directors:  William T. Holland Director 49 G. Raymond Chang Director As at December 31 2012  2011 [in thousands of Canadian dollars] $ $ ASSETS Current Cash and cash equivalents   24,137   122,550 Client and trust funds on deposit   127,712   124,978  Marketable securities   66,155   42,099  Accounts receivable and prepaid expenses   70,597   70,168 Total current assets   288,601 359,795 Capital assets, net  [note 2]  46,879   49,634 Deferred sales commissions, net of accumulated amortization of $492,856 [December 31, 2011 – $494,642]  452,319 491,216 Intangibles  [note 3]  2,161,403 2,162,122 Other assets  [note 4]  22,413 22,215 Total assets 2,971,615 3,084,982 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Accounts payable and accrued liabilities   119,721   120,797 Provisions for other liabilities  [note 6]  1,097   2,417 Dividends payable  [note 8]  45,254   42,526 Client and trust funds payable   125,773   123,745 Income taxes payable  [note 9]  6,608   8,736 Current portion of long-term debt  [note 5]  24,000   257,763 Total current liabilities  322,453   555,984 Deferred lease inducement   17,165   18,489 Long-term debt  [note 5]  570,368   522,592 Provisions for other liabilities  [note 6] 6,611   6,530 Deferred income taxes  [note 9]  379,030   361,202 Total liabilities  1,295,627   1,464,797 Shareholders’ equity  Share capital  [note 7(a)]  1,964,433   1,964,334 Contributed surplus   14,511  20,059  Defi cit   (303,126) (362,377) Accumulated other comprehensive income (loss)   170  (1,831) Total shareholders’ equity  1,675,988   1,620,185  2,971,615  3,084,982 