Shaw 2011 Annual Report Download - page 131

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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]
The fair value hierarchy consists of the following three levels:
Level 1 Inputs are quoted prices in active markets for identical assets or liabilities.
Level 2 Inputs for the asset or liability are based on observable market data, either directly or
indirectly, other than quoted prices.
Level 3 Inputs for the asset or liability that are not based on observable market data.
The following tables represent the Company’s derivative instruments measured at fair value on a
recurring basis and the basis for that measurement:
August 31, 2011
Carrying
value
Quoted prices in
active markets for
identical
instrument
(Level 1)
Significant other
observable inputs
(Level 2)
Significant
unobservable
inputs (Level 3)
$$ $ $
Assets
US currency forward purchase
contracts 1,560 –1,560 –
Liabilities
Cross-currency interest rate exchange
agreements 7,508 –7,508 –
August 31, 2010
Carrying
value
Quoted prices in
active markets for
identical
instrument
(Level 1)
Significant other
observable inputs
(Level 2)
Significant
unobservable
inputs (Level 3)
$$ $ $
Assets
Cross-currency interest rate exchange
agreement 56,716 – 56,716 –
US currency forward purchase
contracts 10,002 – 10,002 –
66,718 – 66,718 –
Liabilities
Cross-currency interest rate exchange
agreements 86,222 – 86,222 –
127