Shaw 2011 Annual Report Download - page 113

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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]
14. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
2011 2010
$$
Trade 99,624 112,924
Program rights 78,193 12,593
CRTC benefit obligations 53,014 –
Accrued liabilities 303,876 274,334
Accrued network fees 110,722 100,703
Interest and dividends 113,774 85,211
Related parties [note 20] 26,985 35,857
Current portion of unfunded pension plan liability [note 18] 8,796 1,448
794,984 623,070
During the current year the Company recorded $29,766 in respect of its restructuring activities
to streamline operations, drive efficiencies and enhance competiveness. The restructuring
included elimination of approximately 550 employee positions, management relocations and
facilities consolidation. A total of $27,416 was paid and the remaining $2,350 is included in
accrued liabilities at year end. The majority of the remaining employee related costs are
expected to be paid in 2012 while facilities consolidation costs are expected to be incurred
through fiscal 2017 as lease payments are made.
109