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26.A Reconciliation of selected Cdn. GAAP financial statement information to U.S. GAAP
26.A.i Consolidated Statements of Operations for the years ended December 31:
2010 2009 2008
Cdn. GAAP U.S. GAAP Cdn. GAAP U.S. GAAP Cdn. GAAP U.S. GAAP
REVENUE
Premiums $ 13,498 $ 9,396 $ 15,510 $ 9,703 $ 13,587 $ 8,979
Total net investment income (loss) 7,880 5,728 9,397 7,730 (526) 2,401
Net realized gains (losses) 119 403 (5) (149) (241) (951)
Fee income 3,143 3,267 2,670 2,654 2,743 3,335
24,640 18,794 27,572 19,938 15,563 13,764
POLICY BENEFITS AND EXPENSES
Payments to policyholders, beneficiaries and
depositors 13,999 9,923 14,317 10,560 14,314 9,847
Increase (decrease) in actuarial liabilities 2,909 1,692 7,697 1,104 (4,429) 2,085
Acquisition expense amortization 53 887 48 1,135 50 (394)
Other expenses 5,600 4,709 5,415 4,359 5,091 3,970
22,561 17,211 27,477 17,158 15,026 15,508
INCOME (LOSS) BEFORE INCOME TAXES AND
NON-CONTROLLING INTERESTS 2,079 1,583 95 2,780 537 (1,744)
Income taxes expense (benefit) 371 76 (542) 362 (343) (1,088)
Non-controlling interests in net income (loss) of
subsidiaries 23 – 15 – 23 –
TOTAL NET INCOME (LOSS) 1,685 1,507 622 2,418 857 (656)
Less: Non-controlling interests’ net income (loss) –23 –15 –23
Less: Participating policyholders’ net income (loss) 9– 9–2–
SHAREHOLDERS’ NET INCOME (LOSS) 1,676 1,484 613 2,403 855 (679)
Less: Preferred shareholder dividends 93 93 79 79 70 70
COMMON SHAREHOLDERS’ NET INCOME (LOSS) $ 1,583 $ 1,391 $ 534 $ 2,324 $ 785 $ (749)
Earnings (loss) per share
Basic $ 2.79 $ 2.45 $ 0.95 $ 4.14 $ 1.40 $ (1.34)
Diluted $ 2.76 $ 2.42 $ 0.94 $ 4.12 $ 1.37 $ (1.36)
Weighted average shares outstanding in millions
Basic 568 568 561 561 561 561
Diluted 570 570 562 562 562 561
124 Sun Life Financial Inc. Annual Report 2010 Notes to the Consolidated Financial Statements