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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The table below summarizes the movement of net deferred tax assets and liabilities during 2015 and 2014.
Deferred tax assets (liabilities)
(In millions of dollars)
Property,
plant and
equipment
and inventory
Goodwill
and other
intangibles
Stub period
income and
partnership
reserve Investments
Non-capital
loss
carryforwards Other Total
January 1, 2015 (889) (548) (313) (80) 54 16 (1,760)
(Expense) recovery in net income (32) (105) 135 – (197) (33) (232)
Expense in other comprehensive income – – – 19 – (70) (51)
Acquisitions – (68) – – 175 2 109
December 31, 2015 (921) (721) (178) (61) 32 (85) (1,934)
Deferred tax assets (liabilities)
(In millions of dollars)
Property,
plant and
equipment
and inventory
Goodwill
and other
intangibles
Stub period
income and
partnership
reserve Investments
Non-capital
loss
carryforwards Other Total
January 1, 2014 (752) (429) (594) (27) 46 85 (1,671)
(Expense) recovery in net income (137) (110) 281 (4) 8 (33) 5
Expense in other comprehensive income – – – (49) – (35) (84)
Acquisitions – (9) – – – (1) (10)
December 31, 2014 (889) (548) (313) (80) 54 16 (1,760)
We had not recognized deferred tax assets for the following items:
As at December 31
(In millions of dollars) 2015 2014
Capital losses in Canada that can be applied
against future capital gains 31 56
Tax losses in foreign jurisdictions that expire
between 2023 and 2033 34 20
Deductible temporary differences in foreign
jurisdictions 49 37
Total unrecognized deferred tax assets 114 113
There are taxable temporary differences associated with our
investments in Canadian domestic subsidiaries. We do not
recognize deferred tax liabilities for temporary differences when we
are able to control the timing of the reversal and the reversal is not
probable in the foreseeable future. Reversing these temporary
differences would not result in any significant tax implications.
2015 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 111