Shaw 2009 Annual Report Download - page 63

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Shaw Communications Inc.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME AND ACCUMULATED OTHER
COMPREHENSIVE INCOME (LOSS)
Years ended August 31 [thousands of Canadian dollars]
2009
$
2008
$
2007
$
Net income 535,239 671,562 388,479
Other comprehensive income (loss) [note 12]
Change in unrealized fair value of derivatives
designated as cash flow hedges 22,588 (36,193) –
Realized gains on cancellation of forward purchase
contracts 9,314 ––
Adjustment for hedged items recognized in the period 14,443 40,223
Reclassification of foreign exchange gain on hedging
derivatives to income to offset foreign exchange loss
on US denominated debt (27,336) (4,796) –
Unrealized foreign exchange gain (loss) on translation
of a self-sustaining foreign operation 31 7 (18)
19,040 (759) (18)
Comprehensive income 554,279 670,803 388,461
Accumulated other comprehensive income (loss), beginning
of year (57,674) 312 330
Adjustment for adoption of new accounting policy
[note 1] –(57,227) –
Other comprehensive income (loss) 19,040 (759) (18)
Accumulated other comprehensive income (loss), end of
year (38,634) (57,674) 312
See accompanying notes
59