Shaw 2010 Annual Report Download - page 98

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Components of other comprehensive income (loss) and the related income tax effects for 2008 are
as follows:
Amount
$
Income taxes
$
Net
$
Change in unrealized fair value of derivatives designated
as cash flow hedges (43,327) 7,134 (36,193)
Adjustment for hedged items recognized in the period 49,801 (9,578) 40,223
Reclassification of foreign exchange gain on hedging
derivatives to income to offset foreign exchange loss
on US denominated debt (5,597) 801 (4,796)
Unrealized foreign exchange gain on translation of
a self-sustaining foreign operation 7 – 7
884 (1,643) (759)
Accumulated other comprehensive income (loss) is comprised of the following:
August 31, 2010
$
August 31, 2009
$
Unrealized foreign exchange gain on translation of
a self-sustaining foreign operation 349 350
Fair value of derivatives 8,627 (38,984)
8,976 (38,634)
13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
2010
$
2009
$
Trade 125,517 86,677
Accrued liabilities 274,334 269,463
Accrued network fees 100,703 103,176
Interest 85,211 80,463
Related parties [note 18] 35,857 21,883
Current portion of pension plan liability [note 17] 1,448 1,448
623,070 563,110
Interest on a short-term financing arrangement in 2008 amounted to $744 and is included in
interest expense. Interest rates fluctuated with Canadian bankers acceptance rates and averaged
4.89% for 2008.
94
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]