Shaw 2010 Annual Report Download - page 97

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Options to purchase 23,993,150 Class B Non-Voting Shares were outstanding under the
Company’s stock option plan at August 31, 2010 (2009 – 23,714,667; 2008 – 23,963,771).
12. OTHER COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER
COMPREHENSIVE INCOME (LOSS)
Components of other comprehensive income (loss) and the related income tax effects for 2010 are
as follows:
Amount
$
Income taxes
$
Net
$
Change in unrealized fair value of derivatives designated
as cash flow hedges (53,131) 9,500 (43,631)
Adjustment for hedged items recognized in the period 19,484 (5,840) 13,644
Reclassification of foreign exchange loss on hedging
derivatives to income to offset foreign exchange
gain on US denominated debt 40,505 (5,565) 34,940
Reclassification of remaining losses on hedging
derivatives to income upon early redemption of
hedged US denominated debt 50,121 (7,463) 42,658
Unrealized foreign exchange loss on translation of
a self-sustaining foreign operation (1) – (1)
56,978 (9,368) 47,610
Components of other comprehensive income (loss) and the related income tax effects for 2009 are
as follows:
Amount
$
Income taxes
$
Net
$
Change in unrealized fair value of derivatives designated
as cash flow hedges 26,693 (4,105) 22,588
Proceeds on cancellation of forward purchase contracts 13,384 (4,070) 9,314
Adjustment for hedged items recognized in the period 14,518 (75) 14,443
Reclassification of foreign exchange gain on hedging
derivatives to income to offset foreign exchange loss
on US denominated debt (31,845) 4,509 (27,336)
Unrealized foreign exchange gain on translation of
a self-sustaining foreign operation 31 – 31
22,781 (3,741) 19,040
93
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]