Rogers 2008 Annual Report Download - page 108

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104 ROGERS COMMUNICATIONS INC. 2008 ANNUAL REPORT
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Amortization of certain long-term assets for 2008 amounted to
$24 million (2007 – $20 million). Accumulated amortization as at
December 31, 2008, amounted to $76 million (2007 – $77 million).
During 2008, the Company recorded an impairment charge of
$51 million related to CRTC commitments as the carrying value of
the Citytv asset group was determined to be in excess of fair value
during impairment testing (note 11(a)(ii)).
During 2008, the CRTC commitments increased by $24 million,
due to the CRTC grant of two new television licences ($10 million
over seven years) and one new radio station ($1 million over six
years), and the acquisition of channel m ($8 million over seven
years), Outdoor Life Network ($4 million over seven years), and
CIKZ-FM Kitchener ($1 million over seven years). In 2007, the CRTC
commitments increased by $63 million due to the acquisition of five
Citytv stations across Canada ($61 million over seven years) and five
radio stations in Northern Alberta ($2 million over seven years).
The liability for CRTC committed expenditures is recorded upon
granting of the licence with a corresponding asset. The liability is
reduced as the qualifying expenditures are made. The amount of
these liabilities, included in accounts payable and accrued liabilities
and other long-term liabilities, is $83 million at December 31, 2008
(2007 – $87 million). Deferred charges related to these commitments
are being amortized over periods ranging from six to seven years.
13. OTHER LONG-TERM ASSETS
2008 2007
Deferred pension asset $ 62 $ 39
Acquired program rights 48 41
Indefeasible right of use agreements 31 30
Deferred compensation 25 29
Long-term receivables 25 12
CRTC commitments 24 72
Deferred installation costs 16 18
Deferred commissions 13 14
Cash surrender value of life insurance 10 16
Long-term debt prepayment option 4 13
Other 11 11
$ 269 $ 295