Shaw 2012 Annual Report Download - page 128

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2012 and 2011
[all amounts in millions of Canadian dollars except share and per share amounts]
B. Consolidated statements of income and comprehensive income for the year ended August 31, 2011
Explanation
Canadian
GAAP
Effect of
transition
to IFRS IFRS
Revenue 4,741 – 4,741
Operating, general and administrative expenses (i), (ii) 2,710 (20) 2,690
Operating income before amortization 2,031 20 2,051
Amortization:
Deferred equipment revenue 107 – 107
Deferred equipment costs (205) – (205)
Property, plant and equipment, intangibles and other (637) – (637)
Operating income 1,296 20 1,316
Amortization of financing costs – long-term debt (4) – (4)
Interest expense (332) – (332)
Gain on redemption of debt 33 – 33
CRTC benefit obligation (139) – (139)
Business acquisition, integration and restructuring expenses (91) – (91)
Loss on derivative instruments (22) – (22)
Accretion of long-term liabilities and provisions (15) – (15)
Foreign exchange gain on unhedged long-term debt 17 – 17
Equity income from associates 14 – 14
Other gains 11 – 11
Income before income taxes 768 20 788
Current income tax expense (iii) 210 10 220
Deferred income tax expense (recovery) (i) to (iii) (5) 14 9
Net income from continuing operations 563 (4) 559
Loss from discontinued operations (89) – (89)
Net income 474 (4) 470
Other comprehensive income (loss)
Change in unrealized fair value of derivatives designated as cash flow
hedges (12) – (12)
Adjustment for hedged items recognized in the period 4 – 4
Actuarial losses on employee benefit plans (ii) – (30) (30)
(8) (30) (38)
Comprehensive income 466 (34) 432
Net income attributable to:
Equity shareholders 455 (4) 451
Non-controlling interests in subsidiaries 19 – 19
474 (4) 470
Comprehensive income attributable to:
Equity shareholders 447 (34) 413
Non-controlling interests in subsidiaries 19 – 19
466 (34) 432
Earnings per share – basic and diluted
Earnings per share from continuing operations 1.24 (0.01) 1.23
Loss per share from discontinued operations (0.21) – (0.21)
Earnings per share 1.03 (0.01) 1.02
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