Shaw 2012 Annual Report Download - page 72

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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]
The Company’s interest in the assets, liabilities, results of operations and cash flows of these
joint ventures are as follows:
2012
$
2011
$
Current assets 812
Program rights –1
Property, plant and equipment 16 16
24 29
Current liabilities 11
Long-term debt 20 21
Proportionate share of net assets 37
2012
$
2011
$
Revenue 31 27
Operating, general and administrative expenses (14) (12)
Amortization (1) (1)
Interest (1) (1)
Other gains 11
Proportionate share of income before income taxes 16 14
Cash flow provided by operating activities 14 14
Cash flow used in financing activities (1) (1)
Proportionate share of cash distributions 13 13
Non-controlling interests arise from business combinations in which the Company acquires less
than 100% interest. At the time of acquisition, non-controlling interests are measured at either
fair value or their proportionate share of the fair value of acquiree’s identifiable assets. The
Company determines the measurement basis on a transaction by transaction basis. Subsequent
to acquisition, the carrying amount of non-controlling interests is increased or decreased for
their share of changes in equity.
Investments and other assets
Investments in associates are accounted for using the equity method based on the Company’s
ability to exercise significant influence over the operating and financial policies of the investee.
Investments of this nature are recorded at original cost and adjusted periodically to recognize
the Company’s proportionate share of the associate’s net income or losses after the date of
investment, additional contributions made and dividends received. Investments are written
down when there has been a significant or prolonged decline in fair value.
Revenue and expenses
The Company has multiple deliverable arrangements comprised of upfront fees (subscriber
connection and installation fee revenue and/or customer premise equipment revenue) and
68