Shaw 2010 Annual Report Download - page 74

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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]
2010
$
2009
$
2008
$
Restated – note 1 Restated – note 1
Net income 532,732 536,475 673,201
Other comprehensive income (loss) [note 12]
Change in unrealized fair value of derivatives
designated as cash flow hedges (43,631) 22,588 (36,193)
Realized gains on cancellation of forward
purchase contracts –9,314 –
Adjustment for hedged items recognized in the
period 13,644 14,443 40,223
Reclassification of foreign exchange loss (gain)
on hedging derivatives to income to offset
foreign exchange adjustments on US
denominated debt 34,940 (27,336) (4,796)
Reclassification of remaining losses on hedging
derivatives to income upon early redemption of
hedged US denominated debt 42,658 ––
Unrealized foreign exchange gain (loss) on
translation of a self-sustaining foreign
operation (1) 31 7
47,610 19,040 (759)
Comprehensive income 580,342 555,515 672,442
Accumulated other comprehensive income (loss),
beginning of year (38,634) (57,674) 312
Adjustment for adoption of new accounting policy
[note 1] –– (57,227)
Other comprehensive income (loss) 47,610 19,040 (759)
Accumulated other comprehensive income (loss), end
of year 8,976 (38,634) (57,674)
See accompanying notes
70