Shaw 2012 Annual Report Download - page 67
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Shaw Communications Inc.
CONSOLIDATED STATEMENTS OF INCOME
Years ended August 31 [millions of Canadian dollars
except per share amounts]
2012
$
2011
$
[note 31]
Revenue [note 24] 4,998 4,741
Operating, general and administrative expenses [note 21] 2,871 2,690
Operating income before amortization [note 24] 2,127 2,051
Amortization –
Deferred equipment revenue [note 15] 115 107
Deferred equipment costs [note 9] (231) (205)
Property, plant and equipment, intangibles and other [notes 8, 9, 10
and 15] (692) (637)
Operating income 1,319 1,316
Amortization of financing costs – long-term debt [note 13] (5) (4)
Interest expense [notes 13 and 24] (330) (332)
Gain on redemption of debt [note 13] –33
CRTC benefit obligations [note 3] (2) (139)
Business acquisition, integration and restructuring expenses [notes 3
and 11] –(91)
Gain on remeasurement of interests in equity investments [note 3] 6–
Gain (loss) on derivative instruments [note 28] 1(22)
Accretion of long-term liabilities and provisions (14) (15)
Foreign exchange gain on unhedged long-term debt –17
Equity income from associates [note 7] –14
Other gains [note 22] –11
Income before income taxes 975 788
Current income tax expense [note 23] 257 220
Deferred income tax expense (recovery) (43) 9
Net income from continuing operations 761 559
Loss from discontinued operations [note 3] –(89)
Net income 761 470
Net income attributable to:
Equity shareholders 728 451
Non-controlling interests in subsidiaries 33 19
761 470
Earnings per share – basic [note 18]
Earnings per share from continuing operations 1.62 1.23
Loss per share from discontinued operations –(0.21)
Earnings per share 1.62 1.02
Earnings per share – diluted [note 18]
Earnings per share from continuing operations 1.61 1.23
Loss per share from discontinued operations –(0.21)
Earnings per share 1.61 1.02
See accompanying notes
63