Rogers 2015 Annual Report Download - page 136

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
business and sell telecommunication products and services. The
acquisition of the dealer stores provided increased product
penetration.
Source Cable Limited (Source)
In November 2014, we acquired 100% of the common shares of
Source for cash consideration of $156 million. Source is a television,
Internet, and phone service provider situated in Hamilton, Ontario,
and its subscriber footprint is situated adjacent to existing Rogers
cable systems.
Final fair values of assets acquired and liabilities assumed
The table below summarizes the final fair values of the assets
acquired and liabilities assumed for all the acquisitions described
above.
(In millions of dollars)
Source
Cable
Dealer
stores Total
Fair value of consideration
transferred 156 46 202
Net identifiable asset or liability:
Cash 1 – 1
Current assets 2 2 4
Property, plant and
equipment 9 – 9
Customer relationships 138 35 73
Current liabilities (6) – (6)
Other liabilities (2) – (2)
Deferred tax liabilities (9) – (9)
Fair value of net identifiable assets
acquired and liabilities assumed 33 37 70
Goodwill 123 9 132
Acquisition transaction costs 1 – 1
Goodwill allocated to the
following segments Cable Wireless
1Customer relationships are amortized over a period of 5 years
NOTE 27: RELATED PARTY TRANSACTIONS
CONTROLLING SHAREHOLDER
Our ultimate controlling shareholder is the Rogers Control Trust
(the Trust), which holds voting control of RCI. The beneficiaries of
the Trust are members of the Rogers family. Certain directors of RCI
represent the Rogers family.
We entered into certain transactions with private Rogers family
holding companies controlled by the Trust. These transactions, as
summarized below, were recognized at the amount agreed to by
the related parties and are subject to the terms and conditions of
formal agreements approved by the Audit and Risk Committee.
TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL
Key management personnel include the directors and our most
senior corporate officers, who are primarily responsible for
planning, directing and controlling our business activities.
134 ROGERS COMMUNICATIONS INC. 2015 ANNUAL REPORT