Blackberry 2002 Annual Report Download - page 28

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The Company believes that a degree of uncertainty exists regarding the realization of those future tax assets and
that a valuation allowance is required. The Company will continue to evaluate and examine the valuation on a
regular basis and as future uncertainties are resolved, the valuation allowance may be adjusted accordingly.
The Company has not provided for Canadian future income taxes or foreign withholding taxes that would apply
on the distribution of the earnings of its non-Canadian subsidiaries, since these earnings are intended to be
reinvested indefinitely.
8. Long-Term Debt
The Company has assumed long-term debt as a result of acquiring certain real estate properties for its ongoing
operations. At March 2, 2002, long-term debt consisted of mortgages with interest rates ranging between 6.75% and
7.90%, against which certain land and buildings are pledged as collateral. At February 28, 2001, long-term debt
consisted of three mortgages with interest rates at 6.75%. All mortgage loans are denominated in Canadian dollars.
The long-term debt principal payments for the fiscal years 2003 through 2007 and thereafter are as follows:
For the year ending
2003 $ 385
2004 6,310
2005 168
2006 181
2007 194
Thereafter 5,021
$ 12,259
At March 2, 2002, the Company had revolving demand credit operating bank lines totalling $37.6 million (2001–$13.0
million). As at March 2, 2002, the Company had drawn down on its available credit facilities in the amount of $6.9
million in the form of letters of credit; $30.7 million remains unused. The borrowing facilities bear interest on the
outstanding balance at the banks’ prime rate. Any balance owing is due on demand and is subject to a general
security agreement.
9. Capital Stock
(a) Share capital –The Company is authorized to issue an unlimited number of non-voting, redeemable, retractable Class
A common shares, an unlimited number of voting common shares and an unlimited number of non-voting, cumulative,
redeemable, retractable preferred shares. There are no Class A common shares or preferred shares outstanding.
The following details the changes in issued and outstanding common shares and common share purchase warrants
for the three years ended March 2, 2002:
NUMBER OF COMMON SHARES OUTSTANDING (000’s)
COMMON SHARE
COMMON SHARES PURCHASE WARRANTS TOTAL
Balance as at February 28, 1999 64,259 139 64,398
Issued for cash 6,082 –6,082
Exercise of options 795 – 795
Warrant issued – 75 75
Balance as at February 29, 2000 71,136 214 71,350
Public offering 6,000 – 6,000
Exercise of options 1,000 –1,000
Exercise of warrants 135 (139) (4)
Balance as at February 28, 2001 78,271 75 78,346
Exercise of options 503 – 503
Common shares issued on acquisition of subsidiary 387 – 387
Common shares repurchased pursuant to Normal
Course Issuer Bid (370) –(370)
Balance as at March 2, 2002 78,791 75 78,866
RESEARCH IN MOTION LIMITED UNITED STATES DOLLARS, IN THOUSANDS EXCEPT PER SHARE DATA, AND EXCEPT AS OTHERWISE INDICATED.
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