Rogers 2015 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2015 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 146

  • 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
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 2: SIGNIFICANT ACCOUNTING POLICIES
(a) BASIS OF PRESENTATION
All amounts are in Canadian dollars unless otherwise noted. Our
functional currency is the Canadian dollar. We prepare the
consolidated financial statements on a historical cost basis, except
for:
• certain financial instruments as disclosed in note 16, which are
measured at fair value;
• liabilities for stock-based compensation, which are measured at
fair value; and
• the net deferred pension liability, which is measured as
described in note 23.
(b) BASIS OF CONSOLIDATION
Subsidiaries are entities we control. We include the financial
statements of our subsidiaries in our consolidated financial
statements from the date we gain control of them until our control
ceases. We eliminate all intercompany transactions and balances
between our subsidiaries on consolidation.
(c) FOREIGN CURRENCY TRANSLATION
We translate amounts denominated in foreign currencies into
Canadian dollars as follows:
• monetary assets and monetary liabilities – at the exchange rate in
effect as at the date of the Consolidated Statements of Financial
Position;
• non-monetary assets, non-monetary liabilities, and related
depreciation and amortization expenses – at the historical
exchange rates; and
• revenue and expenses other than depreciation and amortization
– at the average rate for the month in which the transaction was
recognized.
(d) NEW ACCOUNTING PRONOUNCEMENTS ADOPTED IN
2015
We did not adopt any new or amended accounting
pronouncements that had a material impact on our 2015 annual
consolidated financial statements.
(e) ADDITIONAL SIGNIFICANT ACCOUNTING POLICIES,
ESTIMATES, AND JUDGMENTS
When preparing our consolidated financial statements,
management makes judgments, estimates, and assumptions that
affect how accounting policies are applied and the amounts we
report as assets, liabilities, revenue, and expenses. Our significant
accounting policies, estimates, and judgments are identified in this
note. Furthermore, the following information is disclosed
throughout the notes as identified in the table below:
• information about assumptions and estimation uncertainties that
have a significant risk of resulting in a material adjustment to the
amounts recognized in the consolidated financial statements;
• information about judgments made in applying accounting
policies that have the most significant effect on the amounts
recognized in the consolidated financial statements; and
• information on our significant accounting policies.
Note Topic Page Accounting Policy Use of Estimates Use of Judgments
4 Reportable Segments 100 X X
5 Revenue Recognition 102 X
7 Property, Plant and Equipment 104 X X X
8 Intangible Assets and Goodwill 106 X X X
12 Income Taxes 110 X X
13 Earnings Per Share 112 X
14 Accounts Receivable 112 X
15 Inventories 113 X
16 Financial Instruments 113 X X X
17 Investments 121 X
20 Provisions 122 X
23 Post-Employment Benefits 126 X X
25 Stock-Based Compensation 130 X X
26 Business Combinations 133 X X
29 Commitments and Contingent Liabilities 136 X X
98 ROGERS COMMUNICATIONS INC. 2015 ANNUAL REPORT