Fairfax Financial Holdings Limited (FAXRF) 40-F 2002 FY Annual report (Canada)

Consolidated Financial Summary(in Cdn$ millions except share and per share data)⁽¹⁾

					Per Share
		Return on					Net					Earnings
		average			Share-		earnings					before												Share-				Closing
		shareholders’			holders’		– fully					income			Net			Total		Invest-		Net		holders’		Shares		share
		equity			equity		diluted			Revenue		taxes			earnings			assets(2)		ments		debt(3)		equity		outstanding		price
As at and for the years ended December 31:
	1985		–			2.08		(1.89	)		17.0		(0.9	)		(0.9	)		41.5		32.7		–		10.4		5.0		3.25	(4)
	1986		25.4%			5.89		1.35			53.7		9.1			6.5			129.8		95.6		2.8		41.3		7.0		12.75
	1987		31.3%			8.32		2.23			113.0		18.2			16.0			185.4		124.0		2.8		61.0		7.3		12.37
	1988		21.2%			10.13		1.94			133.6		21.3			14.4			246.8		137.5		28.2		74.2		7.3		15.00
	1989		20.3%			12.41		2.25			125.8		19.2			16.7			248.1		133.9		22.0		90.8		7.3		18.75
	1990		23.0%			17.29		2.92			195.4		23.2			21.3			536.0		335.7		65.9		94.7		5.5		11.00
	1991		21.3%			21.41		3.94			250.0		32.5			22.5			516.6		341.2		51.3		116.8		5.5		21.25
	1992		7.7%			23.76		1.76			286.8		7.0			10.0			590.5		396.2		68.2		143.8		6.1		25.00
	1993		20.3%			35.13		5.42			344.0		46.7			33.3			1,200.3		848.8		132.4		279.5		8.0		61.25
	1994		12.1%			43.77		4.66			634.9		46.0			38.1			2,173.4		1,551.3		218.0		391.9		9.0		67.00
	1995		20.1%			53.28		9.79			1,145.5		95.9			87.5			2,873.5		1,668.1		227.7		472.6		8.9		98.00
	1996		21.4%			87.05		15.36			1,475.8		187.3			150.8			5,778.4		3,454.5		369.4		911.1		10.5		290.00
	1997		20.4%			125.38		21.59			2,088.3		336.0			232.5			10,207.3		5,795.7		511.3		1,395.7		11.1		320.00
	1998		20.1%			184.54		32.63			3,574.3		484.8			387.5			20,886.7		12,108.4		1,139.0		2,238.9		12.1		540.00
	1999		4.3%			231.98		9.20			5,788.5		(17.3	)		124.2			31,979.1		17,842.1		1,246.3		3,116.0		13.4		245.50
	2000		4.1%			242.75		9.41			6,188.5		(32.9	)		137.4			31,833.3		15,687.2		1,306.0		3,180.3		13.1		228.50
	2001		(11.9%	)		213.06		(28.04	)		6,125.7		(736.1	)		(346.0	)		35,438.7		16,419.2		1,372.4		3,042.7		14.4		164.00
	2002		12.8%			237.01		28.78			7,962.3		432.5			415.7			35,110.5		16,812.6		2,028.2		3,351.5		14.1		121.11

(1)	All share references are to common shares; shares outstanding are in millions
(2)	Commencing in 1995, reflects a change in accounting policy for reinsurance recoverables
(3)	Total debt (beginning in 1994, net of cash in the holding company) with Lindsey Morden equity accounted
(4)	When current management took over in September 1985

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