Onex Corporation
TSX : OCX

Onex Corporation

November 12, 2007 08:00 ET

Onex Reports Third Quarter Results

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) -

All amounts in Canadian dollars unless otherwise stated

There were a number of very positive achievements in the third quarter. Onex (TSX:OCX) completed the large-scale acquisition of Allison Transmission in partnership with the Carlyle Group during a period of difficult debt markets. We were also able to secure another attractive opportunity to deploy capital with the pending purchase of Husky Injection Molding.

Highlights of the Quarter include:

- Onex completed the $5.9 billion acquisition of Allison Transmission, the world leader in automatic transmissions for on-highway trucks and buses, off-highway equipment and military vehicles.

- Onex has agreed to acquire Husky Injection Molding Systems in a transaction valued at $960 million. Husky is the global leader in the design and manufacture of injection molding equipment and services to the plastics industry.

- Onex Partners II is approximately 75% invested with Onex' recent announcement of its intention to acquire Husky. Accordingly Onex has begun the process of preparing for Onex Partners III, anticipated to be $4.5 billion.

- Onex repurchased 2,349,400 Subordinate Voting Shares under its Normal Course Issuer Bid at an average price of $33.24 per share for a total cost of $78 million. Over the last five years, Onex has repurchased a total of 33,194,100 Subordinate Voting Shares at an average cost of $19 per share.

- Onex has announced that it has established Onex Credit Partners, a credit investing platform focused on generating attractive risk-adjusted returns through the purchase of undervalued securities.

Gerald W. Schwartz, President and Chief Executive Officer of Onex Corporation said, "We are pleased with our ability to source, acquire and finance first class businesses with great management teams. Each of Allison and Husky is a leader in its industry, and has a management team that we are delighted to partner with to further build these companies."

"Our long track record of success as a private equity investor and the strength of these businesses has enabled Onex to obtain financing for both the Allison and Husky transactions on reasonable terms," said Mr. Schwartz. "As a result of the successful deployment of capital, we are now planning to raise additional third-party capital for our private equity activities and we are evaluating complementary funds. An example of this is the recent announcement of the formation of Onex Credit Partners, a distressed debt investment Fund."

Onex' consolidated financial results for the third quarter and nine months ended September 30, 2007 were as follows:

Third-quarter results:

- Revenues were up 25%, or $1.2 billion, to $6.0 billion from $4.8 billion in the third quarter of 2006.

- The net loss from continuing operations for the third quarter was $76 million compared to a loss of $35 million in the same quarter last year. This loss was largely due to foreign currency translation losses on US cash and securities held and the non-cash purchase accounting charges stemming from the acquisitions of Carestream Health and Allison Transmission. The net loss for the quarter was $77 million ($0.60 per share) compared to net earnings of $31 million ($0.24 per share) in the third quarter of 2006.

- Assets grew to $24.8 billion as of September 30, 2007, up from $22.6 billion at December 31, 2006.

- For the nine months, net earnings were $238 million in 2007 compared to net earnings of $758 million in 2006.

Attached are the Consolidated Balance Sheets, Statements of Earnings and Comprehensive Earnings, Statements of Cash Flows and information by industry segment for the three and nine months ended September 30, 2007 and 2006. The complete financial statements, including Onex' Management's Discussion and Analysis of the results are posted on Onex' website, www.onex.com under the Investor Information section and are also available on SEDAR.

Onex makes private equity investments through the Onex Partners and ONCAP family of funds. Onex also has a Real Estate Fund and a Distressed Debt Fund. Through these Funds, Onex generates annual management fee income from third parties and is also entitled to a carried interest on $4.6 billion of that capital. In addition, Onex invests its own $4.2 billion of capital in both direct investments and as a Limited Partner in its Funds. Onex' operating companies generate annual revenues of $32 billion, have assets of $36 billion and employ 227,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The company's security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

At 4:00 p.m. today, Onex will webcast a live conference call to review the Company's Third Quarter 2007 Results in listen-only mode on its website, www.onex.com.



Consolidated Balance Sheets

---------------------------------------------------------------------------
(Unaudited)
As at As at
September 30 December 31
(in millions of dollars) 2007 2006
---------------------------------------------------------------------------

Assets

Current assets

Cash and cash equivalents $ 2,439 $ 2,944
Marketable securities 869 1,129
Accounts receivable 3,367 2,586
Inventories 2,232 2,345
Other current assets 1,400 1,694
Current assets held by discontinued
operations - 139
---------------------------------------------------------------------------
10,307 10,837
Property, plant and equipment 3,058 2,899
Investments 3,122 1,822
Other long-term assets 2,695 2,894
Intangible assets 2,139 1,036
Goodwill 3,471 2,696
Long-lived assets held by
discontinued operations - 394
---------------------------------------------------------------------------
$ 24,792 $ 22,578
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Liabilities and Shareholders' Equity

Current liabilities

Accounts payable and accrued liabilities $ 4,244 $ 4,066
Current portion of long-term debt,
without recourse to Onex 174 43
Current portion of obligations under
capital leases, without recourse to
Onex 31 35
Current portion of warranty reserves
and unearned premiums 1,635 2,246
Current liabilities held by
discontinued operations - 96
---------------------------------------------------------------------------
6,084 6,486
Long-term debt of operating companies, without
recourse to Onex (note 5) 5,873 3,798
Obligations under capital leases of operating
companies, without recourse to Onex 84 70
Long-term portion of warranty
reserves and unearned premiums 2,401 2,623
Other liabilities 1,590 1,818
Future income taxes 1,087 1,050
Long-term liabilities held by
discontinued operations - 324
---------------------------------------------------------------------------
17,119 16,169
Non-controlling interests 5,850 4,594
Shareholders' equity 1,823 1,815
---------------------------------------------------------------------------
$ 24,792 $ 22,578
---------------------------------------------------------------------------
---------------------------------------------------------------------------

These unaudited interim consolidated financial statements should be read
in conjunction with the 2006 audited annual consolidated financial
statements.



Consolidated Statements of Earnings
and Comprehensive Earnings

---------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
------------------------------------------
(Unaudited)
(in millions of dollars,
except per share data) 2007 2006 2007 2006
---------------------------------------------------------------------------
Revenues $ 6,035 $ 4,810 $ 17,439 $ 13,628
Cost of sales (4,894) (4,206) (14,377) (11,879)
Selling, general and
administrative expenses (569) (261) (1,551) (763)
---------------------------------------------------------------------------
Earnings Before the Undernoted
Items $ 572 $ 343 $ 1,511 $ 986
Amortization of property,
plant and equipment (141) (85) (396) (256)
Amortization of intangible
assets and deferred charges (110) (23) (279) (58)
Interest expense of operating
companies (143) (84) (400) (245)
Interest income 30 26 95 81
Equity-accounted investments 11 4 9 10
Foreign exchange gains (loss) (39) 6 (121) (25)
Stock-based compensation (13) (108) (153) (164)
Other income (loss) (8) (10) (3) 2
Gains on sales of operating
investments, net 1 9 1,144 58
Acquisition, restructuring and
other expenses (23) (106) (64) (210)
Writedown of goodwill and
intangible assets - - (2) (5)
---------------------------------------------------------------------------
Earnings (loss) before income
taxes, non-controlling
interests and discontinued
operations 137 (28) 1,341 174
Provision for income taxes (93) (10) (196) (58)
Non-controlling interests (120) 3 (1,026) (71)
---------------------------------------------------------------------------
Earnings (loss) from continuing
operations (76) (35) 119 45
Earnings (loss) from
discontinued operations (1) 66 119 713
---------------------------------------------------------------------------
Net Earnings (Loss) for the
Period $ (77) $ 31 $ 238 $ 758
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Other comprehensive earnings
(loss), net of taxes
Currency translation
adjustments (58) 3 (144) (152)
Change in fair value of
derivatives designated
as hedges (16) - (1) -
Other 5 - 3 -
---------------------------------------------------------------------------
Comprehensive Earnings (Loss) $ (146) $ 34 $ 96 $ 606
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Net Earnings (Loss) per
Subordinate Voting Share
Basic and Diluted
Continuing operations $ (0.59) $ (0.27) $ 0.93 $ 0.33
Discontinued operations $ (0.01) $ 0.51 $ 0.93 $ 5.33
Net earnings (loss) $ (0.60) $ 0.24 $ 1.86 $ 5.66
---------------------------------------------------------------------------
---------------------------------------------------------------------------
The September 30, 2006 unaudited interim consolidated statement of earnings
has been restated for discontinued operations.



Consolidated Statements of Cash Flows
---------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
---------------------------------------------------------------------------
(Unaudited)
(in millions of dollars) 2007 2006 2007 2006
---------------------------------------------------------------------------
Operating Activities
Net earnings (loss) for
the period $ (77) $ 31 $ 238 $ 758
Loss (earnings) from
discontinued operations 1 (66) (119) (713)
Items not affecting cash:
Amortization of property,
plant and equipment 141 85 396 256
Amortization of intangible
assets and deferred charges 110 23 279 58
Writedown of goodwill and
intangible assets - - 2 5
Non-cash component of
restructuring 4 46 (1) 83
Non-controlling interests 120 (3) 1,026 71
Future income taxes 49 (48) 72 (21)
Stock-based compensation 13 108 153 164
Foreign exchange loss (gains) 43 (3) 112 21
Gains on sales of operating
investments, net (1) (9) (1,144) (58)
Other 1 (6) 34 8
---------------------------------------------------------------------------
404 158 1,048 632

Changes in non-cash working
capital items:
Accounts receivable (14) - (390) (223)
Inventories (88) (198) 162 (425)
Other current assets 15 46 106 48
Accounts payable and accrued
liabilities 257 299 4 499
---------------------------------------------------------------------------
Increase (decrease) in cash
due to changes in working
capital items 170 147 (118) (101)
Increase (decrease) in
warranty reserves and unearned
premiums and other liabilities (77) 24 (222) 239
Cash from discontinued
operations - 1 - 4
---------------------------------------------------------------------------
497 330 708 774
---------------------------------------------------------------------------
Financing Activities
Issuance of long-term debt 403 254 1,750 461
Repayment of long-term debt (402) (286) (1,316) (502)
Cash dividends paid (4) (3) (11) (11)
Repurchase of share capital (78) (51) (78) (190)
Issuance of share capital by
operating companies 655 10 1,691 76
Distributions by operating
companies - (10) (883) (34)
Increase (decrease) due to
other financing activities (18) 5 (17) 13
Cash used in discontinued
operations - (6) - (8)
---------------------------------------------------------------------------
556 (87) 1,136 (195)
---------------------------------------------------------------------------
Investing Activities
Acquisition of operating
investments, net of cash in
acquired companies of $151
(2006 - $10) (144) (14) (1,367) (262)
Purchase of property, plant
and equipment (147) (188) (482) (634)
Net purchase of short-term
investments (231) (854) (231) (854)
Proceeds from sales of
operating investments 1 - 1,310 39
Decrease due to other
investing activities (907) (101) (1,708) (376)
Cash from (used in)
discontinued operations 15 5 216 (66)
---------------------------------------------------------------------------
(1,413) (1,152) (2,262) (2,153)
---------------------------------------------------------------------------
Decrease in Cash for
the Period (360) (909) (418) (1,574)
Increase (decrease) in cash
due to changes in foreign
exchange rates (138) 4 (329) (73)
Cash, beginning of the period -
continuing operations 2,706 2,361 2,944 3,089
Cash, beginning of the period -
discontinued operations - 12 11 26
---------------------------------------------------------------------------
Cash, End of the Period 2,208 1,468 2,208 1,468
Short-term investments 231 854 231 854
---------------------------------------------------------------------------
Cash and Short-term
Investments 2,439 2,322 2,439 2,322
Cash held by discontinued
operations - (10) - (10)
---------------------------------------------------------------------------
Cash and Short-term Investments
Held by Continuing Operations $ 2,439 $ 2,312 $ 2,439 $ 2,312
---------------------------------------------------------------------------
---------------------------------------------------------------------------

These unaudited interim consolidated financial statements should be read
in conjunction with the 2006 audited annual consolidated financial
statements. The September 30, 2006 unaudited interim consolidated
statement of cash flows has been restated for discontinued operations.


INFORMATION BY INDUSTRY SEGMENT

(Unaudited)
(in millions of
dollars) Electronics
Three months ended Manufacturing Financial
Sept. 30, 2007 Services Aerostructures Healthcare Services
---------------------------------------------------------------------------
Revenues $ 2,168 $ 1,011 $ 1,377 $ 355
Cost of sales (2,020) (822) (986) (194)
Selling, general and
administrative
expenses (64) (45) (191) (58)
---------------------------------------------------------------------------
Earnings (loss) before
the undernoted items 84 144 200 103
Amortization of property,
plant and equipment (30) (21) (49) (2)
Amortization of
intangible assets and
deferred charges (5) (1) (52) (41)
Interest expense of
operating companies (15) (10) (74) (4)
Interest income 5 8 2 -
Equity-accounted
investments - - 1 -
Foreign exchange gains
(loss) (2) - 19 -
Stock-based compensation (3) (7) (1) (1)
Other income (loss) - 2 - -
Gains on sales
of operating
investments, net - - - -
Acquisition,
restructuring and
other expenses (3) (1) (14) -
---------------------------------------------------------------------------
Earnings (loss) before
income taxes,
non-controlling
interests, and
discontinued
operations $ 31 $ 114 $ 32 $ 55
---------------------------------------------------------------------------
Provision for income
taxes
Non-controlling
interests
Loss from continuing
operations
Loss from discontinued
operations
Net loss
---------------------------------------------------------------------------
---------------------------------------------------------------------------


(Unaudited)
(in millions of
dollars) Customer
Three months ended Support Metal Consolidated
Sept. 30, 2007 Services Services Other(a) Total
---------------------------------------------------------------------------
Revenues $ 466 $ 458 $ 200 $ 6,035
Cost of sales (294) (419) (159) (4,894)
Selling, general and
administrative
Expenses (132) (13) (66) (569)
---------------------------------------------------------------------------
Earnings (loss) before
the undernoted items 40 26 (25) 572

Amortization of
property, plant
and equipment (15) (15) (9) (141)
Amortization of
intangible assets
and deferred charges (6) (2) (3) (110)
Interest expense of
operating companies (15) (10) (15) (143)
Interest income - - 15 30
Equity-accounted
investments - - 10 11
Foreign exchange gains
(loss) - - (56) (39)
Stock-based
compensation - - (1) (13)
Other income (loss) - - (10) (8)
Gains on sales of
operating
investments, net - - 1 1
Acquisition,
restructuring and
other expenses (1) - (4) (23)
---------------------------------------------------------------------------
Earnings (loss) before
income taxes,
non-controlling
interests, and
discontinued
operations $ 3 $ (1) $ (97) 137
--------------------------------------------------------------
Provision for income
taxes (93)
Non-controlling
interests (120)
-------------
Loss from continuing
operations (76)
Loss from discontinued
operations (1)
-------------
Net loss $ (77)
---------------------------------------------------------------------------
---------------------------------------------------------------------------

(a) Includes Cineplex Entertainment, Hawker Beechcraft, Allison
Transmission, Radian, Cosmetic Essence, Onex Real Estate Partners, ONCAP
and parent company.



(Unaudited)
(in millions of
dollars) Electronics
Three months ended Manufacturing
Sept. 30, 2006 Services Aerostructures Healthcare
---------------------------------------------------------------------------
Revenues $ 2,680 $ 925 $ 726
Cost of sales (2,507) (745) (601)
Selling, general and
administrative expenses (75) (48) (43)
---------------------------------------------------------------------------
Earnings before the
undernoted items 98 132 82
Amortization of property,
plant and equipment (29) (7) (23)
Amortization of intangible
assets and deferred charges (7) (5) (6)
Interest expense of
operating companies (19) (13) (28)
Interest income - 7 -
Equity-accounted investments - - 2
Foreign exchange gains 5 - -
Stock-based compensation (5) (65) (1)
Other income (loss) - - -
Gains on sales of operating
investments, net - - -
Acquisition, restructuring
and other expenses (92) (9) -
---------------------------------------------------------------------------
Earnings (loss) before
income taxes,
non-controlling interests,
and discontinued
operations $ (49) $ 40 $ 26
---------------------------------------------------------------------------
Provision for income taxes
Non-controlling interests
Loss from continuing
operations
Earnings from discontinued
operations
Net earnings
---------------------------------------------------------------------------


(Unaudited)
(in millions of dollars) Customer
Three months ended Support Consolidated
Sept. 30, 2006 Services Other(a) Total
---------------------------------------------------------------------------
Revenues $ 184 $ 295 $ 4,810
Cost of sales (110) (243) (4,206)
Selling, general and
administrative expenses (51) (44) (261)
---------------------------------------------------------------------------
Earnings before the
undernoted items 23 8 343
Amortization of property,
plant and equipment (7) (19) (85)
Amortization of intangible
assets and deferred charges (1) (4) (23)
Interest expense of
operating companies (10) (14) (84)
Interest income - 19 26
Equity-accounted investments - 2 4
Foreign exchange gains - 1 6
Stock-based compensation - (37) (108)
Other income (loss) - (10) (10)
Gains on sales of operating
investments, net - 9 9
Acquisition, restructuring
and other expenses - (5) (106)
---------------------------------------------------------------------------
Earnings (loss) before income
taxes, non-controlling
interests, and discontinued
operations $ 5 $ (50) (28)
---------------------------------------------------------
Provision for income taxes (10)
Non-controlling interests 3
-------------
Loss from continuing
operations (35)
Earnings from discontinued
operations 66
-------------
Net earnings $ 31
---------------------------------------------------------------------------

(a) Includes Cineplex Entertainment, Cosmetic Essence, Radian, Onex Real
Estate Partners, ONCAP and parent company.



(Unaudited)
(in millions of
dollars) Electronics
Nine months ended Manufacturing Financial
Sept. 30, 2007 Services Aerostructures Healthcare Services
---------------------------------------------------------------------------
Revenues $ 6,442 $ 3,184 $ 3,406 $ 1,078
Cost of sales (6,056) (2,579) (2,638) (565)
Selling, general and
administrative
expenses (210) (139) (376) (203)
---------------------------------------------------------------------------
Earnings (loss) before
the undernoted items 176 466 392 310
Amortization of
property, plant
and equipment (86) (63) (116) (7)
Amortization of
intangible assets
and deferred charges (18) (4) (101) (129)
Interest expense of
operating companies (56) (31) (175) (11)
Interest income 9 25 5 -
Equity-accounted
investments - - 3 -
Foreign exchange gains
(loss) (1) - 16 -
Stock-based compensation (10) (30) (2) (3)
Other income (loss) - 6 (1) -
Gains on sales of
operating investments, net - - - -
Acquisition,
restructuring and
other expenses (15) (11) (21) -
Writedown of goodwill
and intangible assets - - (2) -
---------------------------------------------------------------------------
Earnings (loss) before
income taxes,
non-controlling
interests, and
discontinued
operations $ (1) $ 358 $ (2) $ 160
---------------------------------------------------------------------------
Provision for income
taxes
Non-controlling
interests
Earnings from
continuing operations
Earnings from
discontinued
operations
Net earnings
---------------------------------------------------------------------------
Total assets $ 4,474 $ 3,184 $ 5,705 $ 5,510
---------------------------------------------------------------------------
Long-term debt(b) $ 743 $ 571 $ 2,913 $ 195
---------------------------------------------------------------------------
---------------------------------------------------------------------------



(Unaudited)
(in millions of
dollars) Customer
Nine months ended Support Metal Consolidated
Sept. 30, 2007 Services Services Other(a) Total
---------------------------------------------------------------------------
Revenues $ 1,404 $ 1,241 $ 684 $ 17,439
Cost of sales (902) (1,133) (504) (14,377)
Selling, general and
administrative
expenses (390) (37) (196) (1,551)
---------------------------------------------------------------------------
Earnings (loss) before
the undernoted items 112 71 (16) 1,511
Amortization of
property, plant
and equipment (46) (41) (37) (396)
Amortization of
intangible assets
and deferred charges (9) (7) (11) (279)
Interest expense of
operating companies (50) (31) (46) (400)
Interest income 1 - 55 95
Equity-accounted
investments - - 6 9
Foreign exchange gains
(loss) (1) - (135) (121)
Stock-based compensation (2) - (106) (153)
Other income (loss) 2 - (10) (3)
Gains on sales of
operating
investments, net - - 1,144 1,144
Acquisition,
restructuring and
other expenses (4) - (13) (64)
Writedown of goodwill
and intangible assets - - - (2)
---------------------------------------------------------------------------
Earnings (loss) before
income taxes,
non-controlling
interests, and
discontinued
operations $ 3 $ (8) $ 831 1,341
-------------------------------------------------------------
Provision for income
taxes (196)
Non-controlling
interests (1,026)
------------
Earnings from
continuing
operations 119
Earnings from
discontinued
operations 119
------------
Net earnings $ 238
---------------------------------------------------------------------------
Total assets $ 991 $ 879 $ 4,049 $ 24,792
---------------------------------------------------------------------------
Long-term debt(b) $ 694 $ 372 $ 559 $ 6,047
---------------------------------------------------------------------------
---------------------------------------------------------------------------

(a) Includes Cineplex Entertainment, Hawker Beechcraft, Allison
Transmission, Radian, Cosmetic Essence, Onex Real Estate Partners, ONCAP
and parent company.
(b) Long-term debt includes current portion, excludes capital leases and
is net of deferred charges.



(Unaudited)
(in millions of dollars) Electronics
Nine months ended Manufacturing
Sept. 30, 2006 Services Aerostructures Healthcare
---------------------------------------------------------------------------
Revenues $ 7,402 $ 2,665 $ 2,157
Cost of sales (6,922) (2,152) (1,794)
Selling, general and
administrative expenses (228) (130) (118)
---------------------------------------------------------------------------
Earnings before the
undernoted items 252 383 245
Amortization of property,
plant and equipment (85) (23) (69)
Amortization of intangible
assets and deferred charges (23) (5) (18)
Interest expense of
operating companies (56) (39) (85)
Interest income 4 22 3
Equity-accounted investments - - 3
Foreign exchange gains (loss) 10 - -
Stock-based compensation (21) (69) (2)
Other income (loss) - 5 1
Gains on sales of operating
investments, net - - -
Acquisition, restructuring and
other expenses (172) (24) (1)
Writedown of goodwill and
intangible assets - - -
---------------------------------------------------------------------------
Earnings (loss) before income
taxes, non-controlling
interests, and discontinued
operations $ (91) $ 250 $ 77
---------------------------------------------------------------------------
Provision for income taxes
Non-controlling interests
Earnings from
continuing operations
Earnings from
discontinued operations
Net earnings
---------------------------------------------------------------------------
Total assets at
December 31, 2006(b) $ 5,449 $ 3,212 $ 2,887
---------------------------------------------------------------------------
Long-term debt at
December 31, 2006(c) $ 874 $ 687 $ 1,177
---------------------------------------------------------------------------
---------------------------------------------------------------------------


(Unaudited)
(in millions of dollars) Customer
Nine months ended Support Consolidated
Sept. 30, 2006 Services Other(a) Total
---------------------------------------------------------------------------
Revenues $ 543 $ 861 $ 13,628
Cost of sales (330) (681) (11,879)
Selling, general and
administrative expenses (153) (134) (763)
---------------------------------------------------------------------------
Earnings before the
undernoted items 60 46 986
Amortization of property,
plant and equipment (23) (56) (256)
Amortization of intangible
assets and deferred charges (1) (11) (58)
Interest expense of operating
companies (24) (41) (245)
Interest income 1 51 81
Equity-accounted investments - 7 10
Foreign exchange gains (loss) - (35) (25)
Stock-based compensation 1 (73) (164)
Other income (loss) 1 (5) 2
Gains on sales of operating
investments, net - 58 58
Acquisition, restructuring and
other expenses (4) (9) (210)
Writedown of goodwill and
intangible assets - (5) (5)
---------------------------------------------------------------------------
Earnings (loss) before income
taxes, non-controlling
interests, and discontinued
operations $ 11 $ (73) 174
---------------------------------------------------------
Provision for income taxes (58)
Non-controlling interests (71)
------------
Earnings from
continuing operations 45
Earnings from
discontinued operations 713
------------
Net earnings $ 758
---------------------------------------------------------------------------
Total assets at
December 31, 2006(b) $ 256 $ 10,774 $ 22,578
---------------------------------------------------------------------------
Long-term debt at
December 31, 2006(c) $ 196 $ 907 $ 3,841
---------------------------------------------------------------------------
---------------------------------------------------------------------------

(a) Includes Cineplex Entertainment, Cosmetic Essence, Radian, Onex Real
Estate Partners, ONCAP and parent company. Other also includes the
assets ($6,615) and long-term debt ($233) of The Warranty Group.
(b) Customer Support Services and Other include discontinued operations.
(c) Long-term debt includes current portion and excludes capital leases.

Contact Information

  • Onex Corporation
    Ewout R. Heersink or Donald W. Lewtas
    (416) 362-7711
    Website: www.onex.com