Shaw 2011 Annual Report Download - page 112

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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]
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
Accumulated other comprehensive income (loss) is comprised of the following:
August 31, 2011 August 31, 2010
$$
Unrealized foreign exchange gain on translation of a self-
sustaining foreign operation 346 349
Unrealized loss on available-for-sale investment (10) –
Fair value of derivatives 1,131 8,627
1,467 8,976
108