Arpak International Investments Ltd. (ARPAK) quarterly balance sheet

At the end of Q4 FY2026 (Apr – Jun 2026) Arpak International Investments Ltd. had total assets of Rs 457.5 mn, up 68.1% on Q4 FY2025. Current assets of Rs 6.6 mn covered current liabilities of Rs 7.6 mn 0.87 times. Shareholders' equity was Rs 449.5 mn (Rs 112.39 per share), 98.3% of total assets.

ARPAK balance sheet (quarterly) (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	1.7	2.1	1.9	2.3	2.0	1.2	0.7	0.6	3.0	34.1	34.6	31.6	32.1	28.2	26.1	22.3	21.8	22.6	21.0	24.0
Total current assets	6.6	6.2	7.8	6.4	7.7	64.8	43.4	61.6	69.4	61.1	60.0	53.9	51.9	45.4	40.8	36.9	38.4	27.9	25.5	28.3
Property, plant & equipment	1.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	4.4	4.4	4.4	4.4	4.4	4.5	4.5
Total assets	457.5	312.5	285.4	294.8	272.2	302.3	322.7	369.0	352.1	349.3	344.2	389.8	400.4	402.1	376.6	367.0	368.5	353.0	330.8	305.5
Liabilities
Trade payables	4.7	4.1	4.9	2.4	2.6	2.3	4.6	6.2	7.8	4.6	6.1	8.1	9.3	10.6	2.5	2.8	1.9	3.1	1.6	2.5
Total current liabilities	7.6	6.5	6.8	5.5	5.3	4.5	6.4	10.6	11.8	8.4	9.4	11.2	11.7	12.1	3.9	5.9	4.9	5.7	3.6	5.9
Total liabilities	7.9	6.7	7.1	5.7	5.5	4.7	6.6	11.6	12.8	8.6	9.7	11.4	11.9	12.2	4.1	6.0	5.0	5.8	3.7	6.1
Equity
Share capital	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0
Reserves & retained earnings	409.5	265.8	238.4	249.1	226.7	257.6	276.1	317.4	299.3	300.7	294.5	338.4	348.4	350.0	332.6	321.0	323.5	307.2	287.1	259.4
Equity attributable to shareholders	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Non-controlling interest	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total equity	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total liabilities & equity	457.5	312.5	285.4	294.8	272.2	302.3	322.7	369.0	352.1	349.3	344.2	389.8	400.4	402.1	376.6	367.0	368.5	353.0	330.8	305.5
Key figures
Net debt / (net cash)	(1.7)	(2.1)	(1.9)	(2.3)	(2.0)	(1.2)	(0.7)	(0.6)	(3.0)	(34.1)	(34.6)	(31.6)	(32.1)	(28.2)	(26.1)	(22.3)	(21.8)	(22.6)	(21.0)	(24.0)
Shares outstanding mn	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0
Common equity	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Book value per share (Rs) Rs	112.39	76.45	69.60	72.26	66.67	74.40	79.02	89.35	84.83	85.18	83.62	94.60	97.11	97.49	93.14	90.24	90.87	86.80	81.77	74.86

ARPAK balance sheet — year-on-year change (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	-15.4%	+69.1%	+158.3%	+306.2%	-32.4%	-96.4%	-97.9%	-98.2%	-90.8%	+20.9%	+32.6%	+41.5%	+47.6%	+24.5%	+24.2%	-7.0%	-2.1%	-16.7%	-23.3%	-10.5%
Total current assets	-14.2%	-90.5%	-82.1%	-89.5%	-88.9%	+6.1%	-27.7%	+14.3%	+33.8%	+34.6%	+47.1%	+46.0%	+35.2%	+63.0%	+59.7%	+30.4%	+37.0%	-9.9%	-17.0%	-18.6%
Property, plant & equipment	+1,854.1%	-22.4%	-22.5%	-22.6%	-22.7%	-22.7%	-22.8%	-22.9%	-23.0%	-98.1%	-97.9%	-97.8%	-97.7%	-1.5%	-1.6%	-1.7%	-1.7%	-1.8%	-1.9%	-1.9%
Total assets	+68.1%	+3.4%	-11.5%	-20.1%	-22.7%	-13.5%	-6.2%	-5.3%	-12.1%	-13.1%	-8.6%	+6.2%	+8.7%	+13.9%	+13.8%	+20.1%	+21.2%	+15.5%	+2.1%	-9.0%
Liabilities
Trade payables	+83.2%	+83.6%	+7.0%	-62.0%	-67.0%	-51.3%	-24.0%	-23.5%	-15.6%	-56.4%	+144.1%	+188.6%	+379.9%	+238.0%	+57.2%	+13.2%	+33.7%	+47.9%	+45.6%	+150.8%
Total current liabilities	+43.5%	+44.5%	+6.0%	-48.3%	-55.2%	-46.4%	-31.6%	-5.0%	+0.7%	-30.5%	+141.3%	+89.6%	+140.1%	+111.5%	+8.6%	-0.4%	+11.2%	+31.5%	+23.7%	+28.3%
Total liabilities	+44.3%	+43.3%	+6.3%	-50.9%	-57.0%	-45.6%	-31.3%	+1.8%	+6.8%	-29.4%	+138.6%	+88.9%	+137.5%	+108.7%	+8.2%	-0.4%	+10.8%	+30.3%	+22.4%	+26.6%
Equity
Share capital	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Reserves & retained earnings	+80.7%	+3.2%	-13.6%	-21.5%	-24.3%	-14.3%	-6.3%	-6.2%	-14.1%	-14.1%	-11.4%	+5.4%	+7.7%	+13.9%	+15.8%	+23.7%	+24.6%	+17.6%	+2.2%	-10.8%
Equity attributable to shareholders	+68.6%	+2.8%	-11.9%	-19.1%	-21.4%	-12.6%	-5.5%	-5.6%	-12.6%	-12.6%	-10.2%	+4.8%	+6.9%	+12.3%	+13.9%	+20.5%	+21.3%	+15.3%	+1.9%	-9.5%
Non-controlling interest	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total equity	+68.6%	+2.8%	-11.9%	-19.1%	-21.4%	-12.6%	-5.5%	-5.6%	-12.6%	-12.6%	-10.2%	+4.8%	+6.9%	+12.3%	+13.9%	+20.5%	+21.3%	+15.3%	+1.9%	-9.5%
Total liabilities & equity	+68.1%	+3.4%	-11.5%	-20.1%	-22.7%	-13.5%	-6.2%	-5.3%	-12.1%	-13.1%	-8.6%	+6.2%	+8.7%	+13.9%	+13.8%	+20.1%	+21.2%	+15.5%	+2.1%	-9.0%
Key figures
Net debt / (net cash)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Common equity	+68.6%	+2.8%	-11.9%	-19.1%	-21.4%	-12.6%	-5.5%	-5.6%	-12.6%	-12.6%	-10.2%	+4.8%	+6.9%	+12.3%	+13.9%	+20.5%	+21.3%	+15.3%	+1.9%	-9.5%
Book value per share (Rs)	+68.6%	+2.8%	-11.9%	-19.1%	-21.4%	-12.6%	-5.5%	-5.6%	-12.6%	-12.6%	-10.2%	+4.8%	+6.9%	+12.3%	+13.9%	+20.5%	+21.3%	+15.3%	+1.9%	-9.5%

Change against the same quarter a year earlier; shown when the earlier figure is positive.

ARPAK balance sheet — common size (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	0.4%	0.7%	0.7%	0.8%	0.7%	0.4%	0.2%	0.2%	0.8%	9.8%	10.1%	8.1%	8.0%	7.0%	6.9%	6.1%	5.9%	6.4%	6.4%	7.9%
Total current assets	1.4%	2.0%	2.7%	2.2%	2.8%	21.5%	13.4%	16.7%	19.7%	17.5%	17.4%	13.8%	13.0%	11.3%	10.8%	10.1%	10.4%	7.9%	7.7%	9.3%
Property, plant & equipment	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.1%	1.2%	1.2%	1.2%	1.3%	1.3%	1.5%
Total assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Trade payables	1.0%	1.3%	1.7%	0.8%	0.9%	0.7%	1.4%	1.7%	2.2%	1.3%	1.8%	2.1%	2.3%	2.6%	0.7%	0.8%	0.5%	0.9%	0.5%	0.8%
Total current liabilities	1.7%	2.1%	2.4%	1.9%	1.9%	1.5%	2.0%	2.9%	3.4%	2.4%	2.7%	2.9%	2.9%	3.0%	1.0%	1.6%	1.3%	1.6%	1.1%	1.9%
Total liabilities	1.7%	2.1%	2.5%	1.9%	2.0%	1.6%	2.1%	3.1%	3.6%	2.5%	2.8%	2.9%	3.0%	3.0%	1.1%	1.6%	1.4%	1.7%	1.1%	2.0%
Equity
Share capital	8.7%	12.8%	14.0%	13.6%	14.7%	13.2%	12.4%	10.8%	11.4%	11.5%	11.6%	10.3%	10.0%	9.9%	10.6%	10.9%	10.9%	11.3%	12.1%	13.1%
Reserves & retained earnings	89.5%	85.1%	83.5%	84.5%	83.3%	85.2%	85.5%	86.0%	85.0%	86.1%	85.6%	86.8%	87.0%	87.0%	88.3%	87.5%	87.8%	87.0%	86.8%	84.9%
Equity attributable to shareholders	98.3%	97.9%	97.5%	98.1%	98.0%	98.4%	97.9%	96.9%	96.4%	97.5%	97.2%	97.1%	97.0%	97.0%	98.9%	98.4%	98.6%	98.3%	98.9%	98.0%
Non-controlling interest	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Total equity	98.3%	97.9%	97.5%	98.1%	98.0%	98.4%	97.9%	96.9%	96.4%	97.5%	97.2%	97.1%	97.0%	97.0%	98.9%	98.4%	98.6%	98.3%	98.9%	98.0%
Total liabilities & equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Key figures
Net debt / (net cash)	(0.4%)	(0.7%)	(0.7%)	(0.8%)	(0.7%)	(0.4%)	(0.2%)	(0.2%)	(0.8%)	(9.8%)	(10.1%)	(8.1%)	(8.0%)	(7.0%)	(6.9%)	(6.1%)	(5.9%)	(6.4%)	(6.4%)	(7.9%)
Common equity	98.3%	97.9%	97.5%	98.1%	98.0%	98.4%	97.9%	96.9%	96.4%	97.5%	97.2%	97.1%	97.0%	97.0%	98.9%	98.4%	98.6%	98.3%	98.9%	98.0%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 16 Oct 2026.

All reported line items 72

ARPAK balance sheet — all reported line items (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Cash & Cash Equivalents	1.1	1.5	1.3	1.7	1.5	0.7	0.2	0.1	2.5	7.0	8.6	6.7	8.3	5.1	4.0	0.9	1.0	2.4	1.2	2.6
Loans & Receivables - Total	22.7	25.1	26.8	26.0	28.2	29.9	33.8	37.8	36.8	35.3	33.9	38.4	36.6	40.7	38.9	43.9	46.2	47.2	46.0	45.0
Income Tax - Receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.6	—	—	—	—	—	—	—	—	—	—	—	—
Receivables - Other	22.7	25.1	26.8	26.0	28.2	29.9	33.8	37.1	36.8	35.3	33.9	38.4	36.6	40.7	38.9	43.9	46.2	47.2	46.0	45.0
Investment Securities - Available for Sale, Held to Maturity & Held for Trading - Total	0.6	0.6	0.6	0.5	0.5	0.5	0.5	0.5	0.5	27.1	26.0	24.9	23.8	23.1	22.1	21.4	20.7	20.2	19.8	21.4
Investment Property	8.4	8.5	8.5	8.6	8.6	8.6	8.7	8.8	8.8	8.8	8.9	8.9	9.0	4.7	1.8	1.8	1.8	1.8	1.8	1.8
Investments - Total	9.0	9.0	9.1	9.1	9.1	9.2	9.2	9.3	9.3	35.9	34.9	33.8	32.8	27.8	23.9	23.2	22.5	22.0	21.6	23.2
Investment Securities - Held for Trading	0.6	0.6	0.6	0.5	0.5	0.5	0.5	0.5	0.5	27.1	26.0	24.9	23.8	23.1	22.1	21.4	20.7	20.2	19.8	21.4
Property, Plant & Equipment - Net - Total	1.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	4.4	4.4	4.4	4.4	4.4	4.5	4.5
Other Assets - Total	4.1	3.9	4.1	3.2	2.5	33.7	33.9	35.8	35.9	4.2	4.0	2.6	2.0	1.5	0.7	1.9	1.6	1.8	2.3	3.0
Investments in Associates, Joint Ventures and Unconsolidated Subsidiaries	419.4	272.8	244.1	254.7	230.8	228.7	245.5	286.0	267.5	266.8	262.7	308.1	320.7	322.7	304.7	292.7	292.7	275.2	255.3	227.2
Prepaid Expenses - Total	4.1	3.9	4.1	3.2	2.5	33.7	33.9	35.8	35.9	4.2	4.0	2.6	2.0	1.5	0.7	1.9	1.6	1.8	2.3	3.0
Other Assets	—	—	—	—	—	—	—	—	—	—	—	0.0	—	—	—	—	—	—	—	—
Total Current Assets	6.6	6.2	7.8	6.4	7.7	64.8	43.4	61.6	69.4	61.1	60.0	53.9	51.9	45.4	40.8	36.9	38.4	27.9	25.5	28.3
Total Assets	457.5	312.5	285.4	294.8	272.2	302.3	322.7	369.0	352.1	349.3	344.2	389.8	400.4	402.1	376.6	367.0	368.5	353.0	330.8	305.5
Dividends Payable	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0
Deferred Tax & Investment Tax Credits - Long-Term	0.3	0.2	0.2	0.2	0.2	0.2	0.2	1.0	1.0	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Deferred Tax - Liability - Long-Term	0.3	0.2	0.2	0.2	0.2	0.2	0.2	1.0	1.0	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Payables & Accrued Expenses	4.7	4.1	4.9	2.4	2.6	2.3	4.6	6.2	7.8	4.6	6.1	8.1	9.3	10.6	2.5	2.8	1.9	3.1	1.6	2.5
Trade Account Payables - Total	4.7	4.1	4.9	2.4	2.6	2.3	4.6	6.2	7.8	4.6	6.1	8.1	9.3	10.6	2.5	2.8	1.9	3.1	1.6	2.5
Other Liabilities - Total	0.0	(0.0)	0.0	0.0	0.0	0.0	0.0	0.6	—	—	—	0.0	—	—	—	—	—	—	—	—
Other Liabilities -	0.0	(0.0)	0.0	0.0	0.0	0.0	0.0	0.6	—	—	—	0.0	—	—	—	—	—	—	—	—
Total Liabilities	7.9	6.7	7.1	5.7	5.5	4.7	6.6	11.6	12.8	8.6	9.7	11.4	11.9	12.2	4.1	6.0	5.0	5.8	3.7	6.1
Shareholders' Equity - Attributable to Parent Shareholders - Total	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Common Equity Attributable to Parent Shareholders	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Common Equity - Contributed	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0
Common Stock - Issued & Paid	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0	40.0
Equity - Non-Contributed - Reserves & Retained Earnings	409.5	265.8	238.4	249.1	226.7	257.6	276.1	317.4	299.3	300.7	294.5	338.4	348.4	350.0	332.6	321.0	323.5	307.2	287.1	259.4
Retained Earnings - Total	(176.9)	(392.6)	(373.0)	(471.5)	(471.6)	(410.3)	(370.7)	(262.3)	(310.5)	(308.8)	(334.7)	(134.1)	(132.4)	(129.1)	(162.4)	(94.8)	(85.5)	(101.7)	(133.0)	(62.8)
Comprehensive Income - Accumulated - Total	586.5	658.4	611.4	720.6	698.3	667.9	646.8	579.7	609.8	609.5	629.2	472.5	480.9	479.1	494.9	415.8	408.9	408.9	420.1	322.2
Common Equity - Total	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Shareholders' Equity - including Minority Interest & Hybrid Debt	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Liabilities & Equity	457.5	312.5	285.4	294.8	272.2	302.3	322.7	369.0	352.1	349.3	344.2	389.8	400.4	402.1	376.6	367.0	368.5	353.0	330.8	305.5
Revaluation Reserves	586.5	658.4	611.4	720.6	698.3	667.9	646.8	579.7	609.8	609.5	629.2	472.5	480.9	479.1	494.9	415.8	408.9	408.9	420.1	322.2
Total Current Liabilities	7.6	6.5	6.8	5.5	5.3	4.5	6.4	10.6	11.8	8.4	9.4	11.2	11.7	12.1	3.9	5.9	4.9	5.7	3.6	5.9
Common Shares - Issued - Total mn	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0
Common Shares - Outstanding - Total mn	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0
Common Shares - Treasury - Total mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Common Shares - Authorized - Issue Specific mn	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0	5.0
Common Shares - Issued - Issue Specific mn	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0
Common Shares - Outstanding - Issue Specific mn	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0	4.0
Common Shares - Treasury - Issue Specific mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Asset Allocation Factor - Issue Specific	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×
Net Debt	(1.7)	(2.1)	(1.9)	(2.3)	(2.0)	(1.2)	(0.7)	(0.6)	(3.0)	(34.1)	(34.6)	(31.6)	(32.1)	(28.2)	(26.1)	(22.3)	(21.8)	(22.6)	(21.0)	(24.0)
Asset Accruals	5.5	4.7	6.4	4.7	6.3	64.2	43.2	61.6	66.9	54.1	51.4	47.2	43.6	40.3	36.8	36.0	37.4	25.4	24.3	25.7
Cash & Cash Equivalents - Total	1.1	1.5	1.3	1.7	1.5	0.7	0.2	0.1	2.5	7.0	8.6	6.7	8.3	5.1	4.0	0.9	1.0	2.4	1.2	2.6
Cash & Securities	9.0	9.0	9.1	9.1	9.1	9.2	9.2	9.3	9.3	35.9	34.9	33.8	32.8	27.8	23.9	23.2	22.5	22.0	21.6	23.2
Cash & Short Term Investments - Total	1.7	2.1	1.9	2.3	2.0	1.2	0.7	0.6	3.0	34.1	34.6	31.6	32.1	28.2	26.1	22.3	21.8	22.6	21.0	24.0
Earning Assets	9.0	9.0	9.1	9.1	9.1	9.2	9.2	9.3	9.3	35.9	34.9	33.8	32.8	27.8	23.9	23.2	22.5	22.0	21.6	23.2
Invested Assets - Total	9.0	9.0	9.1	9.1	9.1	9.2	9.2	9.3	9.3	35.9	34.9	33.8	32.8	27.8	23.9	23.2	22.5	22.0	21.6	23.2
Investment Securities	0.6	0.6	0.6	0.5	0.5	0.5	0.5	0.5	0.5	27.1	26.0	24.9	23.8	23.1	22.1	21.4	20.7	20.2	19.8	21.4
Investments - Permanent	427.8	281.3	252.6	263.3	239.4	237.4	254.2	294.8	276.3	275.6	271.6	317.1	329.7	327.4	306.4	294.5	294.5	277.0	257.1	229.0
Net Book Capital	447.9	303.7	276.5	286.8	264.7	296.4	315.3	356.8	336.4	306.6	299.9	346.8	356.3	361.8	346.4	338.6	341.7	324.6	306.0	275.4
Net Operating Assets	447.9	303.7	276.5	286.8	264.7	296.4	315.3	356.8	336.4	306.6	299.9	346.8	356.3	361.8	346.4	338.6	341.7	324.6	306.0	275.4
Provisions - Total	0.3	0.2	0.2	0.2	0.2	0.2	0.2	1.0	1.0	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Shareholders Equity - Common	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Tangible Total Equity	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Tangible Book Value	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Book Capital	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Capital	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Long Term Capital	449.9	306.0	278.6	289.3	266.9	297.8	316.3	358.4	340.3	340.9	334.7	378.6	388.7	390.1	372.7	361.1	363.6	347.3	327.2	299.6
Trading Account	0.6	0.6	0.6	0.5	0.5	0.5	0.5	0.5	0.5	27.1	26.0	24.9	23.8	23.1	22.1	21.4	20.7	20.2	19.8	21.4
Book Value excluding Other Equity	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Income Taxes - Payable - Long-Term & Short-Term	1.8	1.3	0.9	2.1	1.6	1.2	0.8	2.7	2.9	2.7	2.3	2.0	1.4	0.4	0.4	2.0	1.9	1.5	1.0	2.4
Cash & Short Term Investments - Net of Debt	1.7	2.1	1.9	2.3	2.0	1.2	0.7	0.6	3.0	34.1	34.6	31.6	32.1	28.2	26.1	22.3	21.8	22.6	21.0	24.0
Net Debt Including Preferred Equity & Minority Interest	(1.7)	(2.1)	(1.9)	(2.3)	(2.0)	(1.2)	(0.7)	(0.6)	(3.0)	(34.1)	(34.6)	(31.6)	(32.1)	(28.2)	(26.1)	(22.3)	(21.8)	(22.6)	(21.0)	(24.0)
Other Short-Term & Long-Term Assets - Total	—	—	—	—	—	—	—	—	—	—	—	0.0	—	—	—	—	—	—	—	—
Other Short-Term & Long-Term Liabilities - Total	0.0	(0.0)	0.0	0.0	0.0	0.0	0.0	0.6	—	—	—	0.0	—	—	—	—	—	—	—	—
Tangible Book Value excluding Other Equity	449.5	305.8	278.4	289.1	266.7	297.6	316.1	357.4	339.3	340.7	334.5	378.4	388.4	390.0	372.6	361.0	363.5	347.2	327.1	299.4
Total Available Funds	449.9	306.0	278.6	289.3	266.9	297.8	316.3	358.4	340.3	340.9	334.7	378.6	388.7	390.1	372.7	361.1	363.6	347.3	327.2	299.6
Cash in Hand & with Banks - Total	1.1	1.5	1.3	1.7	1.5	0.7	0.2	0.1	2.5	7.0	8.6	6.7	8.3	5.1	4.0	0.9	1.0	2.4	1.2	2.6
Current Assets excluding Cash & Short Term Investments - Total	4.9	4.1	5.9	4.2	5.7	63.6	42.7	61.0	66.5	27.0	25.4	22.3	19.8	17.2	14.7	14.6	16.6	5.2	4.5	4.3

Every line the company reported, in the original order and wording, without regrouping or signs changed.