Rogers 2007 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 of the 2007 Rogers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

ROGERS COMMUNICATIONS INC. 2007 ANNUAL REPORT 77
Years ended December 31, 2007 and 2006 2007 2006
Operating revenue (note 3(b)) $ 10,123 $ 8,838
Operating expenses:
Cost of sales 961 956
Sales and marketing 1,322 1,226
Operating, general and administrative 4,251 3,763
Stock option plan amendment (note 20(a)(i)) 452 –
Integration and restructuring (note 6) 38 18
Depreciation and amortization 1,603 1,584
8,627 7,547
Operating income 1,496 1,291
Interest on long-term debt (579) (620)
917 671
Loss on repayment of long-term debt (note 15(e)) (47) (1)
Foreign exchange gain 54 2
Change in fair value of derivative instruments (34) (4)
Other income (expense), net (4) 10
Income before income taxes 886 678
Income tax expense (reduction) (note 7):
Current (1) (5)
Future 250 61
249 56
Net income for the year $ 637 $ 622
Net income per share (note 8):
Basic $ 1.00 $ 0.99
Diluted 0.99 0.97
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF INCOME
(IN MILLIONS OF CANADIAN DOLLARS, EXCEPT PER SHARE AMOUNTS)