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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
3. SEGMENTED INFORMATION:
(a) The Company’s chief operating decision makers are the CEO and
CFO. They review the operations and performance of the
Company by segments, which include Wireless, Cable, RBS and
Media. Segment results that are reported to the Company’s chief
decision makers include items directly attributable to a segment
as well as those that can be allocated on a reasonable basis.
The accounting policies of the segments are the same as those
described in note 2 to the Company’s consolidated financial
statements. The chief operating decision makers review adjusted
operating profit as a key measure of performance for each
segment and for purposes of making decisions on resource
allocations. Adjusted operating profit is income before
integration, restructuring and acquisition costs, stock-based
compensation expense, settlement of pension obligations,
depreciation and amortization, impairment of assets, finance
costs, other income, share of income of associates and joint
ventures, and income taxes. This measure of segment operating
results differs from operating income in the consolidated
statements of income. All of the Company’s reportable segments
are substantially in Canada.
Information by reportable segments is as follows, which is regularly reported to the chief operating decision makers:
Year ended December 31, 2012 Wireless Cable RBS Media
Corporate
items and
Eliminations Consolidated
Totals
Operating revenue $ 7,280 $ 3,358 $ 351 $ 1,620 $ (123) $ 12,486
Operating costs(1) 4,217 1,753 262 1,430 (10) 7,652
Adjusted operating profit 3,063 1,605 89 190 (113) 4,834
Integration, restructuring and acquisition costs 92
Stock-based compensation expense(1) 77
Depreciation and amortization 1,819
Impairment of assets 80
Operating income 2,766
Finance costs (664)
Other income, net 15
Share of the income of associates and joint ventures 235
Income before income taxes $ 2,352
Additions to PP&E $ 1,123 $ 832 $ 61 $ 55 $ 71 $ 2,142
Goodwill $ 1,146 $ 1,000 $ 215 $ 854 $ – $ 3,215
Total assets $ 9,769 $ 4,719 $ 835 $ 2,157 $ 2,138 $ 19,618
(1) Included with operating costs in consolidated statements of income.
Year ended December 31, 2011 Wireless Cable RBS Media
Corporate
items and
eliminations Consolidated
totals
Operating revenue $ 7,138 $ 3,309 $ 405 $ 1,611 $ (117) $ 12,346
Operating costs(1) 4,102 1,760 319 1,431 (5) 7,607
Adjusted operating profit 3,036 1,549 86 180 (112) 4,739
Integration, restructuring and acquisition costs 56
Stock-based compensation expense(1) 64
Settlement of pension obligations(1) 11
Depreciation and amortization 1,743
Operating income 2,865
Finance costs (738)
Other income, net 1
Share of the income of associates and joint ventures 7
Income before income taxes $ 2,135
Additions to PP&E $ 1,192 $ 748 $ 55 $ 61 $ 71 $ 2,127
Goodwill $ 1,146 $ 1,000 $ 215 $ 919 $ – $ 3,280
Total assets $ 9,184 $ 4,619 $ 924 $ 1,947 $ 1,688 $ 18,362
(1) Included with operating costs in consolidated statements of income.
The Company applies the same basis of accounting for transactions between reportable segments as transactions with external parties.
94 ROGERS COMMUNICATIONS INC. 2012 ANNUAL REPORT