Shaw 2012 Annual Report Download - page 88

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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]
evolution of wireless technologies, the capital required to build a competitive network and
recent changes in the wireless competitive environment. As a result, the Company decided to
discontinue any further construction of its traditional wireless network. Accordingly, the assets
were measured at the lower of carrying amount and estimated fair value less costs to sell
resulting in a write-down of $112 and classification of $16 as assets held for sale. The
Company has determined the carrying value of the wireless spectrum licenses continues to be
appropriate and intends to hold these assets while it reviews all options.
The results of operations and related cash flows have been reported as discontinued operations.
The loss from discontinued operations in 2012 and 2011 is comprised of the following:
2012
$
2011
$
Operating expenditures –7
Amortization –1
Write-down of assets –112
Income tax recovery –(31)
Loss from discontinued operations –89
The cash flows used in discontinued operations in 2012 and 2011 is comprised of the
following:
2012
$
2011
$
Cash used in operating activities –11
Cash used in investing activities 3137
Decrease in cash from discontinued operations 3148
4. ACCOUNTS RECEIVABLE
2012
$
2011
$
September 1,
2010
$
Subscriber and trade receivables 436 425 210
Due from related parties [note 27] 111
Miscellaneous receivables 24 46 4
461 472 215
Less allowance for doubtful accounts (28) (29) (19)
433 443 196
Included in operating, general and administrative expenses is a provision for doubtful accounts
of $30 (2011 – $34).
84