Rogers 2011 Annual Report Download - page 96

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
3. TRANSITION TO IFRS:
As stated in note 2(a), these are the Company’s first annual
consolidated financial statements prepared in accordance with IFRS.
The accounting policies set out in note 2 have been applied in
preparing the consolidated financial statements as at and for the year
ended December 31, 2011, the comparative information presented in
these consolidated financial statements as at and for the year ended
December 31, 2010, and for the opening IFRS statement of financial
position at January 1, 2010 (the Company’s Transition Date to IFRS). In
preparing its opening and comparative IFRS statements of financial
positions, the Company has adjusted amounts reported previously in
financial statements prepared in accordance with previous Canadian
GAAP.
Reconciliation of financial position and shareholders’ equity at January 1, 2010:
Canadian
GAAP
Reclassification
for IFRS
presentation Note
Adjustments to
shareholders’
equity Note IFRS balance
Assets
Current assets:
Cash and cash equivalents $ 383 $ (5) (f) $ – $ 378
Accounts receivable 1,310 (21) (f) – 1,289
Other current assets 338 (61) (f),(l) – 277
Current portion of derivative instruments 4 – – 4
Current portion of deferred tax assets 220 (220) (m) – –
2,255 (307) – 1,948
Property, plant and equipment 8,197 (50) (f) (11) (e) 8,136
Goodwill 3,018 (7) (f) – 3,011
Intangible assets 2,643 (3) (f),(l) – 2,640
Investments 547 167 (f) 1 (i) 715
Derivative instruments 78 – – 78
Other long-term assets 280 (46) (f),(g),(l) (121) (b) 113
Deferred tax assets – 84 (f),(m) – 84
$ 17,018 $ (162) $ (131) $ 16,725
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities $ 2,175 $ (118) (d),(f),(h) $ 9 (c) $ 2,066
Income tax payable 147 – – 147
Current portion of provisions – 4 (h) 10 (h) 14
Current portion of long-term debt 1 – – 1
Current portion of derivative instruments 80 – – 80
Unearned revenue 284 55 (d) (4) (d) 335
2,687 (59) 15 2,643
Provisions – 39 (h) 19 (h) 58
Long-term debt 8,463 (9) (g) (58) (g) 8,396
Derivative instruments 1,004 – – 1,004
Other long-term liabilities 133 – 44 (b),(c),(f) 177
Deferred tax liabilities 458 (133) (m) (34) (m) 291
12,745 (162) (14) 12,569
Shareholders’ equity 4,273 – (117) (n) 4,156
$ 17,018 $ (162) $ (131) $ 16,725
92 ROGERS COMMUNICATIONS INC. 2011 ANNUAL REPORT