1、2023CANFOR CORPORATION ANNUAL REPORT 0452CONSOLIDATED FINANCIAL STATEMENTS 92MESSAGE TO SHAREHOLDERS53 Managements Responsibility54 Independent Auditors Report59 Consolidated Balance Sheets60 Consolidated Statements of Income(Loss)61 Consolidated Statements of Other Comprehensive Income(Loss)62 Cons
2、olidated Statements of Changes in Equity63 Consolidated Statements of Cash Flows64 Notes to the Consolidated Financial Statements93 Directors and Officers94 Corporate and Shareholder InformationADDITIONAL INFORMATIONIN THIS REPORT05 2023 Managements Discussion and Analysis06 2023 Highlights 07 Compa
3、ny Overview10 Overview of Consolidated Results-2023 Compared to 202212 Operating Results by Business Segment-2023 Compared to 2022-Lumber16 Operating Results by Business Segment-2023 Compared to 2022-Pulp and Paper20 Other Comprehensive Income(Loss)21 Summary of Financial Position22 Changes in Finan
4、cial Position22 Liquidity and Financial Requirements26 Transactions with Related Parties26 Environmental,Social and Governance(“ESG”)Strategy,Reporting and Related Risks27 Selected Quarterly Financial Information28 Three-Year Comparative Review29 Fourth Quarter Results35 Changes in Financial Positio
5、n36 Specific Items Affecting Comparability36 Outlook37 Non-IFRS Financial Measures38 Critical Accounting Estimates41 Risks and Uncertainties51 Outstanding Share Data51 Disclosure Controls and Internal Controls Over Financial ReportingFROM THE PRESIDENT AND CEOMESSAGE TO SHAREHOLDERSAround the world,
6、forest products are being recognized for the opportunities that they provide in the global fight against climate change.From the way that our fibre is sourced,to how it is manufactured,to the carbon-saving benefits of our products,our high-value,low-carbon products are in demand.While markets have b