LIABILITIES AND SHAREHOLDERS’ EQUITY Current: Bank loans vi   $  42,423 $  –  $  302  $  42,725  Accounts payable and accrued liabilities i,iv,x   64,819  (2,884)   (1,870)   60,065  Provisions  viii   –  550  –  550  Other current financial liabilities   –  2,334  –  2,334  Income taxes payable   3,230  –  –  3,230  Current portion of long-term debt 4,426  –  –  4,426  Current portion of finance lease obligations  972  –  –  972  Total current liabilities  115,870  –  (1,568)   114,302  Non-current: Long-term debt 44,119  (207)   –  43,912  Other long-term financial liabilities   –  207  –  207  Long–term finance lease obligations 3,045  –  –  3,045  Other long-term liabilities  i,iv   673  –  (673)   –  Deferred income taxes xii   8,872  (1,341)   2,364  9,895  Employee future benefits iii   842  –  8,788  9,630  Total liabilities  173,421  (1,341)   8,911  180,991  Shareholders’ Equity Common shares i,xi   79,563  –  (1,237)   78,326  Non-controlling interest  x   50  –  (50)   –  Contributed surplus  xi   10,634  –  (1,717)   8,917  Retained earnings  xiii   72,682  –  (7,125)   65,557  Accumulated other comprehensive loss  ii,iii,v   (19,388)   –  13,899  (5,489) Total equity  143,541  –  3,770  147,311   $  316,962 $  (1,341)   $  12,681  $  328,302  (In thousands of Canadian dollars) CGAAP  IFRS  January 1  January 1 Note 26 (c)  2011   Reclassifications Adjustments 2011 (Note 26(c)(xiv)) ASSETS Current: Cash and cash equivalents  x   $  806  $  –  $  (208)   $  598  Accounts receivable x   51,349  (890)   (7)   50,452  Income tax receivable   701  –  –  701  Other financial assets  – 890  –  890  Inventories v,x   133,517   –  (1,537)   131,980  Prepaid expenses  x   1,890  –  (1)   1,889  Deferred income taxes  2,389  (2,389)   –  –  Total current assets  190,652  (2,389)   (1,753)   186,510  Non-current: Property, plant and equipment ix,x   58,829  –  8,440  67,269  Deferred income taxes xii   –  1,048  1,355  2,403  Other receivables and miscellaneous assets  x   295 –  519  814  Investment in equity accounted investee  x   –  –  157  157  Employee future benefits iii   3,065  –  (2,974)   91  Intangible assets vii  31,066   –  173  31,239 Goodwill i   33,055  –  6,764  39,819   126,310   1,048  14,434 141,792   $  316,962 $  (1,341)   $  12,681  $  328,302  104 HIGH lIneR FooDS InCoRpoRAteD