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## FINANCIAL POSITION 

W e do not anticipate $^{(3)}$ any liquidity risk and consider our financial position at the end of fiscal 2014 as very solid. W e had an unused authorized revolving credit facility of $208.3 million. Our non-current debt corresponded to 28.0% of the combined total of non-current debt and equity (non-current debt/total capital). 

At the end of fiscal 2014, the main elements of our non-current debt were as follows: 

<img src='content_image/268617.jpg'>

At the end of fiscal 2014 , we had foreign exchange forward contracts to hedge against the ef fect of foreign exchange rate fluctuations on our future foreign-denominated purchases of goods and services. 

Our main financial ratios were as follows: 

<img src='content_image/268620.jpg'>

## CAPIT AL STOCK 

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$^{(1)}$ See table on "Operating income before depreciation and amortization and associate's earnings adjustments" 

$^{(2)}$ See table on "Net earnings from continuing operations adjustments" 

$^{(3)}$ See section on "Forward-looking information" 

$^{(4)}$ See section on "IFRS and non-IFRS measurements" 

$^{(5)}$ See table on "Net earnings adjustments" 

