Rogers 2006 Annual Report Download - page 98

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94 R OGE RS COM MUN I C ATIO NS I NC . 2 0 0 6 AN NUAL R EPO R T
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
13 D EFERRED CHA RGES
2006 2005
Financing costs $ 59 $ 67
Pre-operating costs 8 12
CRTC commitments 23 34
Deferred installation costs (note 2(c)(iv)) 17 8
Other 11 11
$ 118 $ 132
of $75 million in operating funds to provide certain benefits to the
Canadian broadcasting system. In prior years, the Company agreed
to pay $50 million in public benefits over seven years relating to the
CRTC grant of a new television licence in Toronto, $6 million relating
to the purchase of 13 radio stations and the remainder relating
to a CRTC decision permitting the purchase of Rogers Sportsnet
Inc. (“Sportsnet”), Rogers (Toronto) Ltd. and Rogers (Alberta) Ltd.
The amount of these liabilities, included in accounts payable and
accrued liabilities and other long-term liabilities, is $32 million at
December 31, 2006 (2005 – $40 million). Deferred charges related to
these commitments are being amortized over periods ranging from
six to seven years.
Amortization of deferred charges for 2006 amounted to $25 million
(2005 – $35 million). Accumulated amortization as at December 31,
2006 amounted to $121 million (2005 – $116 million).
Financing costs of $5 million were deferred in connection with the
amendments to certain credit facilities in 2005.
In connection with the repayment of certain long-term debt during
2005, and amendments made to certain credit facilities, the Company
wrote off deferred financing costs of $3 million (note 15(d)).
The Company has committed to the Canadian Radio-television and
Telecommunications Commission (“CRTC”) to spend an aggregate
14 O THER LONG-T ERM ASSETS
\
2006 2005
Deferred pension asset (note 19) $ 34 $ 32
Program rights 26 23
Long-term deposits 32 –
Long-term receivables 10 2
Indefeasible right of use agreement 16 26
Cash surrender value of life insurance 14 14
Other 20 16
$ 152 $ 113