Reconciliation of equity, January 1, 2010 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years ended December 31, 2011 and 2010 (In thousands of Canadian dollars, except share and per share information) Previous Canadian GAAP balance IFRS reclassification IFRS adjustments IFRS balance Assets Assets Current assets Current assets Cash and cash equivalents $ 150,594 $ — $ — $ 150,594 Cash and cash equivalents — 166,499 — 166,499 Trade and other receivables Accounts receivable, trade 148,688 (148,688) — — Inventories 75,530 — — 75,530 Inventories Other receivables and prepaid expenses 24,342 (24,342) — — — 5,656 — 5,656 Prepaid expenses — 5,550 — 5,550 Derivative instruments Total current assets 399,154 4,675 — 403,829 Total current assets Property, plant and equipment (note d) 751,592 (944) (5,941) 744,707 Property, plant and equipment Goodwill 358,794 — — 358,794 Goodwill Future income tax assets (notes c,d,e,f,g,h) 47,440 — 4,359 51,799 Deferred tax assets — 19,449 — 19,449 Equity accounted investments Intangible assets 42,335 2,857 — 45,192 Intangible assets — 24,289 — 24,289 Other assets Other assets 46,182 (46,182) — — — 531 — 531 Derivative instruments Total non-current assets 1,246,343 — (1,582) 1,244,761 Total non-current assets Total assets $ 1,645,497 $ 4,675 $ (1,582) $ 1,648,590 Total assets Liabilities Liabilities Current liabilities Current liabilities Accounts payable and accrued liabilities $ 206,510 $ 8,690 $ — $ 215,200 Trade and other payables Current portion of long-term debt (note c) 49,290 (4,228) (89) 44,973 Current portion of long-term debt Income and other taxes payable 10,943 (4,611) — 6,332 Income taxes payable — 4,228 — 4,228 Derivative instruments Total current liabilities 266,743 4,079 (89) 270,733 Total current liabilities Long-term debt (note c) 448,849 (12,504) (1,177) 435,168 Long-term debt Future income tax liabilities (note d) 118,764 — (1,295) 117,469 Deferred tax liabilities (notes f,g) — 46,970 18,509 65,479 Employee benefits Other long-term items 58,384 (58,384) — — — 12,010 — 12,010 Provisions and other long-term liabilities — 12,504 — 12,504 Derivative instruments Total non-current liabilities 625,997 596 16,037 642,630 Total non-current liabilities Total liabilities $ 892,740 $ 4,675 $ 15,948 $ 913,363 Total liabilities Equity Equity Share capital $ 201,339 $ — $ — $ 201,339 Share capital Contributed surplus (note e) 3,805 — 871 4,676 Contributed surplus Retained earnings 643,303 — (117,987) 525,316 Retained earnings Accumulated other comprehensive loss (note b) (95,690) — 99,586 3,896 Accumulated other comprehensive income (loss) Total equity attributable to shareholders of the Company 752,757 — (17,530) 735,227 Total equity attributable to shareholders of the Company Total liabilities and equity $ 1,645,497 $ 4,675 $ (1,582) $ 1,648,590 Total liabilities and equity 84 CCL Industries Inc. 2011 Annual Report