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94 ROGERS COMMUNICATIONS INC. 2007 ANNUAL REPORT
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Employee stock options are not considered dilutive after the
May 28, 2007, amendment to stock option plans (note 20(a)(i)).
Amortization expense for Rogers Retail rental inventory is charged
to cost of sales and amounted to $46 million in 2007 (2006 –
$48 million). The costs of acquired program rights are amortized to
operating, general and administrative expenses over the expected
8. NET INCOME PER SHARE:
9. OTHER CURRENT ASSETS:
2007 2006
Numerator:
Net income for the year, basic and diluted $ 637 $ 622
Denominator (in millions):
Weighted average number of shares outstanding – basic 638 632
Effect of dilutive securities:
Employee stock options 4 10
Weighted average number of shares outstanding – diluted 642 642
Net income per share:
Basic $ 1.00 $ 0.99
Diluted 0.99 0.97
2007 2006
Inventories $ 110 $ 113
Prepaid expenses 86 93
Acquired program rights 45 23
Rogers Retail rental inventory 32 35
Income taxes receivable 15 –
Deferred compensation 10 2
Other 6 4
$ 304 $ 270
The following table sets forth the calculation of basic and diluted
net income per share:
performances of the related programs and amounted to $46 million
in 2007 (2006 – $27 million). Cost of sales includes $915 million
(2006 – $908 million) of inventory costs.