Rogers 2009 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2009 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 130

  • 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
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

ROGERS COMMUNICATIONS INC. 2009 ANNUAL REPORT 87
Years ended December 31, 2009 and 2008 2009 2008
Cash provided by (used in):
Operating activities:
Net income for the year $ 1,478 $ 1,002
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization 1,730 1,760
Impairment losses on goodwill, intangible assets and other long-term assets 18 294
Program rights and Rogers Retail rental amortization 174 146
Future income taxes 287 421
Unrealized foreign exchange loss (gain) (126) 65
Loss on repayment of long-term debt 7–
Change in fair value of derivative instruments 65 (64)
Settlement of pension obligations 30 –
Pension contributions, net of expense (102) (22)
Stock-based compensation recovery (33) (100)
Amortization of fair value increment on long-term debt (5) (5)
Other 3 3
3,526 3,500
Change in non-cash operating working capital items (note 20(a)) 264 (215)
3,790 3,285
Investing activities:
Additions to property, plant and equipment ("PP&E") (1,855) (2,021)
Change in non-cash working capital items related to PP&E (55) 40
Acquisition of spectrum licences (40) (1,008)
Investment in Cogeco Inc. and Cogeco Cable Inc. (note 12) (163) –
Acquisitions, net of cash and cash equivalents acquired (11) (191)
Additions to program rights (185) (150)
Other (15) 15
(2,324) (3,315)
Financing activities:
Issuance of long-term debt 2,875 4,474
Repayment of long-term debt (1,885) (3,335)
Premium on repayment of long-term debt (8) –
Payment on re-couponing of cross-currency interest rate exchange agreements –(375)
Payment on settlement of cross-currency interest rate exchange agreements and forward contracts (431) (969)
Proceeds on settlement of cross-currency interest rate exchange agreements and forward contracts 433 970
Repurchase of Class B Non-Voting shares (1,347) (137)
Issuance of capital stock on exercise of stock options 33
Dividends paid (704) (559)
(1,064) 72
Increase in cash and cash equivalents 402 42
Cash deficiency, beginning of year (19) (61)
Cash and cash equivalents (deficiency), end of year $ 383 $ (19)
Cash and cash equivalents (deficiency) are defined as cash and short-term deposits, which have an original maturity of less than 90 days, less bank advances.
For supplemental cash flow information see note 20(b).
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN MILLIONS OF CANADIAN DOLLARS)