Shaw 2012 Annual Report Download - page 99

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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]
15. DEFERRED CREDITS
2012 2011
September 1,
2010
$$ $
IRU prepayments 485 497 510
Equipment revenue 137 120 112
Connection fee and installation revenue 10 10 7
Deposit on future fibre sale 222
Other 111
635 630 632
Amortization of deferred credits for 2012 amounted to $136 (2011 – $126) and was recorded
in the accounts as described below.
IRU agreements are in place for periods ranging from 21 to 60 years and are being amortized to
income over the agreement periods. Amortization in respect of the IRU agreements for 2012
amounted to $12 (2011 – $13) and was recorded as other amortization. Amortization of
equipment revenue for 2012 amounted to $115 (2011 – $107). Amortization of connection
fee and installation revenue for 2012 amounted to $9 (2011 – $7) and was recorded as
revenue.
16. SHARE CAPITAL
Authorized
The Company is authorized to issue a limited number of Class A voting participating shares
(“Class A Shares”) of no par value, as described below, and an unlimited number of Class B
non-voting participating shares (“Class B Non-Voting Shares”) of no par value, Class 1 preferred
shares, Class 2 preferred shares, Class A preferred shares and Class B preferred shares.
The authorized number of Class A Shares is limited, subject to certain exceptions, to the lesser
of that number of shares (i) currently issued and outstanding and (ii) that may be outstanding
after any conversion of Class A Shares into Class B Non-Voting Shares.
2012 2011 2012 2011
Number of securities $ $
22,520,064 22,520,064 Class A Shares 22
421,188,697 415,216,348 Class B Non-Voting Shares 2,455 2,338
12,000,000 12,000,000 Series A Preferred Shares 293 293
455,708,761 449,736,412 2,750 2,633
Class A Shares and Class B Non-Voting Shares
Class A Shares are convertible at any time into an equivalent number of Class B Non-Voting
Shares. In the event that a take-over bid is made for Class A Shares, in certain circumstances,
the Class B Non-Voting Shares are convertible into an equivalent number of Class A Shares.
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