Morneau Shepell Inc. (MSI) 2019年年度报告「TSX」.pdf

1、Improving lives.Improving business.2019 Annual ReportTable of Contents1Chairs Message to Shareholders22President and CEOs Message to Shareholders33Managements Discussion and Analysis5a.Forward Looking Statements and Definitions5b.Outstanding Share Data6c.Business Overview6d.2019 Summary and Outlook7

2、e.2019 Operating Results Summary9f.Analysis of Fourth Quarter 2019 Operating Results10g.Analysis of Year Ended December 31,2019 Operating Results11h.Liquidity and Capital Resources13i.Selected Statement of Financial Position Data16j.Critical Accounting Estimates17k.Risks and Uncertainties20l.Selecte

3、d Annual Information26m.Supplementary Summary of Quarterly Results27n.Disclosure Controls and Procedures28o.Internal Control Over Financial Reporting284Consolidated Financial Statementsa.Independent AuditorsReport29b.Consolidated Statements of Financial Position32c.Consolidated Statements of Income

4、and Comprehensive Income34d.Consolidated Statements of Changes In Equity35e.Consolidated Statements of Cash Flows365Notes to Consolidated Financial Statements37Annual Report|20191CHAIRS MESSAGE TO SHAREHOLDERSOn behalf of the Board of Directors,I want to extend my appreciation to all our employees f

5、or delivering another yearof excellent business performance.At Morneau Shepell webelieve improving the lives ofemployees is the most directway to improve businessperformance healthy,happyand engaged staff are presentand productive.Asorganizations are faced withhigher than ever healthcarecosts,this t

6、ranslates into realvalue.2019wasapivotalyearinhelpingourclientsimprovethelivesoftheiremployees.InadditiontocompletingtheintegrationoftheLifeWorksacquisition,theCompanyacquiredMercer sstandalone,large-markethealthanddefinedbenefitpensionplanadministrationbusinessintheUnitedStates.Atthesametime,theCom