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101
Rogers Communications Inc. 2004 Annual Report
(d) Expected cash flows:
Expected benefit payments for fiscal year ending:
2005 $ 26,000
2006 27,000
2007 28,000
2008 29,300
2009 30,700
141,000
Next 5 years 168,000
$ 309,000
Blue Jays Holdco and Microcell each has defined contribution plans with total pension expense of $0.9 million in 2004 from the date of
consolidation of each to December 31, 2004.
17. SEGMENTED INFORMATION:
(a) Operating segments:
The Company provides wireless services, cable services and, through Media, radio and television broadcasting and the publication of
magazines and periodicals. All of these operating segments are substantially in Canada. As described in note 7(a), commencing July 31,
2004, the Company began to consolidate Blue Jays Holdco and reporting it as a separate operating segment. Effective January 1, 2005,
Blue Jays Holdco became a reporting unit of Media and as a result, will be reported as part of the Media operating segment commenc-
ing in 2005. Information by operating segment for the years ended December 31, 2004 and 2003 are as follows:
Corporate
items and Consolidated
2004 Wireless Cable Media Blue Jays eliminations Total
Operating revenue $ 2,783,525 $ 1,945,655 $ 899,763 $ 61,849 $ (82,543) $ 5,608,249
Cost of sales 509,540 145,936 142,381 – – 797,857
Sales and marketing expenses 444,379 248,754 184,197 6,292 – 883,622
Operating, general and
administrative expenses 879,215 842,306 451,644 61,726 (42,262) 2,192,629
Management fees 11,675 38,913 13,661 – (64,249) –
Depreciation and amortization 497,674 486,038 53,321 14,021 41,497 1,092,551
Operating income (loss) 441,042 183,708 54,559 (20,190) (17,529) 641,590
Interest on long-term debt (219,366) (247,365) (8,912) (5,131) (41,300) (522,074)
Intercompany:
Interest expense (7,196) (552) (42,225) – 49,973 –
Dividends – – 42,915 – (42,915) –
Gain on sale of other
investments 1,445 – – – 13,009 14,454
Loss on repayment of
long-term debt (2,313) (18,013) – – (7,884) (28,210)
Writedown of investments – (494) – – (5,527) (6,021)
Gain (loss) from investments
accounted for by the equity
method – – 1,875 – (20,569) (18,694)
Change in fair value of
derivative instruments (7,796) 34,570 – – – 26,774
Foreign exchange gain (loss) (46,714) (41,089) 358 (512) 20,402 (67,555)
Investment and other income
(expense) 6,494 (378) 598 680 22,152 29,546
Income tax reduction (expense) (6,487) (1,196) (988) (1,618) 6,842 (3,447)
Non-controlling interest ––––(79,581) (79,581)
Net income (loss)
for the year $ 159,109 $ (90,809) $ 48,180 $ (26,771) $ (102,927) $ (13,218)
PP&E expenditures $ 439,157 $ 587,906 $ 19,619 $ 703 $ 7,553 $ 1,054,938
Goodwill acquired $ 1,366,102 $ – $ 53,021 $ 95,509 $ – $ 1,514,632
Goodwill $ 1,739,465 $ 926,445 $ 624,720 $ 95,509 $ 2,548 $ 3,388,687
Identifiable assets $ 5,054,803 $ 3,861,925 $ 1,062,435 $ 162,124 $ 3,131,451 $ 13,272,738