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90 ROGERS 2005 ANNUAL REPORT . MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Five-Year Financial Summary
Years ended December 31,
(In thousands of dollars, except per share amounts) 2005 2004 2003 2 0 0 2 2001
Income and Cash Flow
Revenue
Wireless(1) $ 4,006,658 $ 2,783,525 $ 2,207,794 $ 1,891,514 $ 1,640,889
Cable(1) 2,067,733 1,945,655 1,788,122 1,614,554 1,446,599
Media 1,097,176 957,112 854,992 810,805 721,710
Telecom 423,890 – – – –
Corporate and eliminations (113,303) (78,043) (59,052) (50,088) 4,772
$ 7,482,154 $ 5,608,249 $ 4,791,856 $ 4,266,785 $ 3,813,970
Operating Profit(2)
Wireless $ 1,337,049 $ 950,391 $ 727,572 $ 527,687 $ 411,945
Cable 718,603 708,659 663,474 563,480 516,805
Media 127,846 115,372 106,724 87,635 68,306
Telecom 45,940 – – – –
Corporate and eliminations (85,869) (40,281) (48,874) (37,188) (44,535)
$ 2,143,569 $ 1,734,141 $ 1,448,896 $ 1,141,614 $ 952,521
Net Income (loss)(1)(4) $ (44,658) $ (67,142) $ 79,358 $ 259,854 $ (515,721)
Cash flow from operations(1)(3) $ 1,551,415 $ 1,305,019 $ 1,031,043 $ 682,839 $ 483,862
Property, plant and
equipment expenditures $ 1,353,796 $ 1,054,938 $ 963,742 $ 1,261,983 $ 1,420,747
Average Class A and Class B shares
outstanding (000s) 288,668 240,435 225,918 213,570 208,644
Per Share
Earnings (loss) – basic $ (0.15) $ (0.28) $ 0.35 $ 1.05 $ (2.56)
– diluted $ (0.15) (0.28) 0.34 0.83 (2.56)
Balance Sheet
Assets
Property, plant and equipment, net $ 6,151,526 $ 5,486,837 $ 5,039,304 $ 5,051,998 $ 4,717,731
Goodwill 3,035,786 3,388,687 1,891,636 1,892,060 1,711,551
Intangible assets 2,627,467 2,855,689 400,219 423,674 423,374
Investments 138,212 139,170 229,221 223,937 1,047,888
Other assets 1,881,298 1,402,355 905,115 1,115,064 1,298,400
$ 13,834,289 $ 13,272,738 $ 8,465,495 $ 8,706,733 $ 9,198,944
Liabilities and Shareholders’ Equity
Long-term debt(1)(5) $ 7,739,551 $ 8,541,097 $ 5,440,018 $ 6,319,454 $ 5,809,497
Accounts payable and
other liabilities 2,567,123 2,346,307 1,534,541 1,272,745 1,192,165
Future income taxes – – – 27,716 137,189
Non-controlling interest – – 193,342 132,536 186,377
Total liabilities 10,306,674 10,887,404 7,167,901 7,752,451 7,325,228
Shareholders’ equity(1) 3,527,615 2,385,334 1,297,594 954,282 1,873,716
$ 13,834,289 $ 13,272,738 $ 8,465,495 $ 8,706,733 $ 9,198,944
(1) As reclassified. See the “New Accounting Standards” section.
(2) Operating profit is defined as income before depreciation, amortization, interest, income taxes, and non-operating items. See “Key
Performance Indicators and Non-GAAP Measures” section.
(3) Cash flow from operations before changes in working capital amounts.
(4) Restated for the change in accounting of foreign exchange translation.
(5) Total long-term debt, including current portion, has been reclassified to exclude the effect of our cross-currency interest rate exchange
agreements.