Rogers 2014 Annual Report Download - page 27

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MANAGEMENT’S DISCUSSION AND ANALYSIS
2014 Financial Report
24 MANAGEMENT’S DISCUSSION AND ANALYSIS 64 Governance and Risk Management
64 Governance at Rogers
26 Executive Summary 65 Social Responsibility
26 About Rogers Communications Inc. 67 Risk Management
27 2014 Highlights 67 Risks and Uncertainties Affecting Our Business
73 Controls and Procedures
29 Understanding Our Business
29 Products and Services 73 Regulation in Our Industry
30 Competition 75 Wireless
32 Industry Trends 76 Cable
77 Media
33 Our Strategy
78 Other Information
34 Key Performance Drivers and Highlights 78 Accounting Policies
34 2014 Key Highlights 81 Key Performance Indicators
36 2015 Objectives 83 Non-GAAP Measures
36 Financial and Operating Guidance 85 Summary of Financial Results of Long-Term Debt
Guarantor
37 Capability to Deliver Results 86 Five-Year Summary of Consolidated Financial Results
37 Widespread Product Distribution
37 Leading Networks 87 CONSOLIDATED FINANCIAL STATEMENTS
39 First Class Media Content
40 Engaged People 87 Management’s Responsibility for Financial Reporting
40 Powerful Brands
40 Financial Strength and Flexibility 87 Independent Auditors’ Report
40 Healthy Trading Volumes and History of Dividend Growth
88 Consolidated Statements of Income
41 2014 Financial Results
41 Summary of Consolidated Results 89 Consolidated Statements of Comprehensive Income
42 Key Changes in Financial Results This Year Compared to
2013 90 Consolidated Statements of Financial Position
43 Wireless
46 Cable 91 Consolidated Statements of Changes in Shareholders’ Equity
48 Business Solutions
49 Media 92 Consolidated Statements of Cash Flows
50 Additions to Property, Plant and Equipment
51 Review of Consolidated Performance 93 Notes to Consolidated Financial Statements
54 Quarterly Results
56 Balance Sheet Overview
57 Managing Our Liquidity and Financial Resources
57 Sources and Uses of Cash
59 Financial Condition
60 Financial Risk Management
62 Dividends and Share Information
63 Commitments and Other Contractual Obligations
64 Off-Balance Sheet Arrangements
2014 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 23