Shaw 2010 Annual Report Download - page 84

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2010 2009 2008
Year ended August 31,
$$ $
Consolidated statements of income:
Decrease (increase) in operating, general and
administrative expenses (883) 1,659 2,693
Decrease in amortization of property, plant and equipment 33,285 30,774 23,954
Increase in amortization of other intangibles (33,285) (30,774) (23,954)
Decrease (increase) in income tax expense 214 (423) (1,054)
Increase (decrease) in net income and comprehensive
income (669) 1,236 1,639
Increase (decrease) in earnings per share –––
The cash outflows for additions to other intangibles have been reclassified from property, plant and
equipment and presented separately in the Consolidated Statements of Cash Flows for the year
ended August 31, 2010, 2009 and 2008.
(ii) Financial instruments
The Company adopted the amendments to CICA Handbook Section 3862 “Financial Instruments –
Disclosures” which enhances disclosures about how fair values are determined, whether those fair
values are derived through estimation methods or from objective evidence and about the liquidity
risk of financial instruments. The new disclosures are included in note 19.
The Company adopted the amendments to CICA Handbook Section 3855 “Financial Instruments –
Recognition and Measurement” which provides additional guidance in respect of impairment of
debt instruments and classification of financial instruments. The adoption of this standard had no
impact on the Company’s consolidated financial statements.
Recent Canadian accounting pronouncements
(i) International Financial Reporting Standards (IFRS)
In February 2008, the CICA Accounting Standards Board (AScB) confirmed that Canadian publicly
accountable enterprises will be required to adopt International Financial Reporting Standards (IFRS),
as issued by the International Accounting Standards Board (IASB), for fiscal periods beginning on or
after January 1, 2011. These standards require the Company to begin reporting under IFRS in fiscal
2012 with comparative data for the prior year. The Company has developed its plan and has
completed the preliminary identification and assessment of the accounting and reporting differences
under IFRS as compared to Canadian GAAP. Evaluation of accounting policies is in progress; however,
at this time, the full impact of adopting IFRS is not reasonably estimable or determinable.
80
Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2010, 2009 and 2008
[all amounts in thousands of Canadian dollars except share and per share amounts]