Shaw 2011 Annual Report Download - page 111

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2011, 2010 and 2009
[all amounts in thousands of Canadian dollars except share and per share amounts]
Earnings per share
Earnings per share calculations are as follows:
2011 2010 2009
Numerator for basic and diluted earnings per share ($)
Net income from continuing operations 562,052 533,776 536,475
Deduct: net income attributable to non-controlling interests (19,088) ––
Deduct: dividends on Series A Preferred Shares (3,624) ––
Net income from continuing operations attributable to
common shareholders 539,340 533,776 536,475
Net loss from discontinued operations attributable to
common shareholders (89,263) (1,044) –
Net income attributable to common shareholders 450,077 532,732 536,475
Denominator (thousands of shares)
Weighted average number of Class A Shares and Class B
Non-Voting Shares for basic earnings per share 434,881 432,675 429,153
Effect of potentially dilutive securities 1,071 1,207 1,628
Weighted average number of Class A Shares and Class B
Non-Voting Shares for diluted earnings per share 435,952 433,882 430,781
Earnings per share – basic and diluted ($)
Earnings per share from continuing operations 1.24 1.23 1.25
Loss per share from discontinued operations (0.21) ––
Earnings per share 1.03 1.23 1.25
Options to purchase 21,970,400 Class B Non-Voting Shares were outstanding under the
Company’s stock option plan at August 31, 2011 (2010 – 23,993,150; 2009 – 23,714,667).
13. OTHER COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER
COMPREHENSIVE INCOME
Components of other comprehensive income (loss) and the related income tax effects for 2011
are as follows:
Amount Income taxes Net
$$$
Change in unrealized fair value of derivatives designated as
cash flow hedges (14,322) 2,552 (11,770)
Adjustment for hedged items recognized in the period 5,880 (1,606) 4,274
Unrealized loss on available-for-sale investment (12) 2 (10)
Unrealized foreign exchange loss on translation of a self-
sustaining foreign operation (3) – (3)
(8,457) 948 (7,509)
107