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CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(IN MILLIONS OF CANADIAN DOLLARS)
Class A
Voting shares Class B
Non-Voting shares
Available-for-sale
financial
assets reserve
Year ended December 31, 2011 Amount
Number of
shares
(000s) Amount
Number of
shares
(000s) Share
premium Retained
earnings Hedging
reserve
Total
shareholders’
equity
Balances, January 1, 2011 $ 72 112,462 $ 426 443,072 $ 1,113 $ 1,923 $ 281 $ (55) $ 3,760
Net income for the year – – – – – 1,563 – – 1,563
Other comprehensive income (loss):
Defined benefit pension plans, net of tax – – – – – (67) – – (67)
Available-for-sale investments, net of tax – – – – – – 152 – 152
Derivative instruments, net of tax – – – – – – – 30 30
Total other comprehensive income – – – – – (67) 152 30 115
Comprehensive income for the year – – – – – 1,496 152 30 1,678
Transactions with shareholders, recorded
directly in equity:
Repurchase of Class B Non-Voting
shares – – (30) (30,943) (870) (199) – – (1,099)
Dividends declared – – – – – (766) – – (766)
Shares issued on exercise of stock
options – – 10 266 – – – – 10
Acquisition of non-controlling interests – – – – – (11) – – (11)
Total transactions with shareholders – – (20) (30,677) (870) (976) – – (1,866)
Balances, December 31, 2011 $ 72 112,462 $ 406 412,395 $ 243 $ 2,443 $ 433 $ (25) $ 3,572
Class A
Voting shares Class B
Non-Voting shares
Available-for-sale
financial
assets reserve
Year ended December 31, 2010 Amount
Number of
shares
(000s) Amount
Number of
shares
(000s) Share
premium Retained
earnings Hedging
reserve
Total
shareholders’
equity
Balances, January 1, 2010 $ 72 112,462 $ 456 479,948 $ 2,304 $ 1,302 $ 192 $ (170) $ 4,156
Net income for the year – – – – – 1,502 – – 1,502
Other comprehensive income (loss):
Defined benefit pension plans, net of tax – – – – – (59) – – (59)
Available-for-sale investments, net of tax – – – – – – 89 – 89
Derivative instruments, net of tax – – – – – – – 115 115
Total other comprehensive income – – – – – (59) 89 115 145
Comprehensive income for the year – – – – – 1,443 89 115 1,647
Transactions with shareholders, recorded
directly in equity:
Repurchase of Class B Non-Voting
shares – – (37) (37,081) (1,191) (84) – – (1,312)
Dividends declared – – – (738) – – (738)
Shares issued on exercise of stock
options – – 7 205 – – – – 7
Total transactions with shareholders – – (30) (36,876) (1,191) (822) – – (2,043)
Balances, December 31, 2010 $ 72 112,462 $ 426 443,072 $ 1,113 $ 1,923 $ 281 $ (55) $ 3,760
See accompanying notes to consolidated financial statements.
82 ROGERS COMMUNICATIONS INC. 2011 ANNUAL REPORT