Rogers 2009 Annual Report Download - page 71

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ROGERS COMMUNICATIONS INC. 2009 ANNUAL REPORT 75
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
FIVE-YEAR SUMMARY OF CONSOLIDATED FINANCIAL RESULTS
(1) As defined. See section entitled “Key Performance Indicators and Non-GAAP Measures”.
(2) Cash flow from operations before changes in working capital amounts.
(3) Debt includes net derivative liabilities at the risk free mark-to-market value and is net of cash as applicable.
(4) Prior period shares and per share amounts have been retroactively adjusted to reflect a two-for-one-split of the Company’s Class A Voting and Class B Non-Voting shares on December 29, 2006.
Years ended December 31,
(in millions of dollars, except per share amounts) 2009 2008 2007 2006 2005
Income and Cash Flow:
Revenue
Wireless $ 6,654 $ 6,335 $ 5,503 $ 4,580 $ 3,860
Cable 3,948 3,809 3,558 3,201 2,492
Media 1,407 1,496 1,317 1,210 1,097
Corporate and eliminations (278) (305) (255) (153) (115)
$ 11,731 $ 11,335 $ 10,123 $ 8,838 $ 7,334
Operating profit(1)
Wireless $ 3,006 $ 2,797 $ 2,532 $ 1,969 $ 1,337
Cable 1,325 1,220 802 890 765
Media 73 142 82 151 128
Corporate and eliminations (88) (81) (317) (135) (86)
$ 4,316 $ 4,078 $ 3,099 $ 2,875 $ 2,144
Adjusted operating profit(1)
Wireless $ 3,042 $ 2,806 $ 2,589 $ 1,987 $ 1,409
Cable 1,324 1,233 1,016 916 778
Media 119 142 176 156 131
Corporate and eliminations (97) (121) (78) (117) (66)
$ 4,388 $ 4,060 $ 3,703 $ 2,942 $ 2,252
Net Income (loss) $ 1,478 $ 1,002 $ 637 $ 622 $ (45)
Adjusted net income
Cash flow from operations(2) $ 3,526 $ 3,500 $ 3,135 $ 2,386 $ 1,551
Property, plant and equipment expenditures $ 1,855 $ 2,021 $ 1,796 $ 1,712 $ 1,355
Average Class A and Class B shares
outstanding (Ms)(3) 621 638 642 642 577
Net income (loss) per share:(3)
Basic $ 2.38 $ 1.57 $ 1.00 $ 0.99 $ (0.08)
Diluted 2.38 1.57 0.99 0.97 (0.08)
Adjusted net income per share:
Basic $ 2.51 $ 1.98 $ 1.67 $ 1.08 $ 0.08
Diluted 2.51 1.98 1.66 1.07 0.08
Balance Sheet:
Assets
Property, plant and equipment, net $ 8,197 $ 7,898 $ 7,289 $ 6,732 $ 6,152
Goodwill 3,018 3,024 3,027 2,779 3,036
Intangible assets 2,643 2,761 2,086 2,152 2,627
Investments 547 343 485 139 138
Other assets 2,613 3,056 2,438 2,303 1,881
$ 17,018 $ 17,082 $ 15,325 $ 14,105 $ 13,834
Liabilities and Shareholders' Equity
Long-term debt $ 8,463 $ 8,506 $ 6,033 $ 6,988 $ 7,739
Accounts payable and other liabilities 4,282 3,860 4,668 2,917 2,567
Total liabilities 12,745 12,366 10,701 9,905 10,306
Shareholders' equity 4,273 4,716 4,624 4,200 3,528
$ 17,018 $ 17,082 $ 15,325 $ 14,105 $ 13,834
Ratios:
Revenue growth 3% 12% 15% 21% 33%
Adjusted operating profit growth 8% 10% 26% 31% 29%
Debt/adjusted operating profit(3) 2.1 2.1 2.1 2.8 4.0
Dividends declared per share(4) $ 1.16 $ 1.00 $ 0.42 $ 0.08 $ 0.06
$ 1,556 $ 1,260 $ 1,066 $ 684 $ 47