Shaw 2013 Annual Report Download - page 106

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S
haw
C
ommunications Inc
.
N
O
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
August 31, 2013 and 201
2
[all amounts in millions of Canadian dollars exce
p
t share and
p
er share amounts
]
22
.
O
THER L
OSS
E
S
Other losses
g
enerall
y
includes realized and unrealized forei
g
n exchan
g
e
g
ains and losses on U
S
d
ollar denom
i
nated current assets and l
i
ab
i
l
i
t
i
es,
g
a
i
ns and losses on d
i
s
p
osal o
fp
ro
p
ert
y
,
p
lan
t
and equipment and minor investments, and the Company’s share of the operations of Burrar
d
L
anding Lot 2 Holdings Partnership. During the prior year, the category also included a pension
recover
y
of $25 which arose due to a
p
lan amendment to freeze salar
y
levels and a loss of $2
6
related to the electrical fire and resulting water damage at the Company’s head office i
n
Calgary, Alberta. The loss of
$
26 includes
$
6 of costs in respect of restoration and recovery
activities, includin
g
amounts incurred in the relocation of em
p
lo
y
ees, and a write-down of $2
0
related to the damages susta
i
ned to the bu
i
ld
i
ng and
i
ts contents. Insurance recover
i
es are
included in Other losses as claims are approved. During the current year, the Company received
insurance advances of $5 related to its claim for costs that were incurred in 2012 and incurred
additional costs of
$
13 in respect of ongoing recovery activities. In addition, during the curren
t
year, the Company decided to discontinue further construction on a real estate project which
resulted in a write-down of $14 and classification of $11 as assets held for sale at Au
g
ust 31
,
2013
.
23. INCOME TAXE
S
D
e
f
erred
i
ncome taxes re
f
lect the net tax e
ff
ects o
f
temporary d
iff
erences between the carry
i
ng
amounts of assets and liabilities for financial reporting purposes and the amounts used for
i
ncome tax
p
ur
p
oses. The
C
om
p
an
y
’s net de
f
erred tax l
i
ab
i
l
i
t
y
cons
i
sts o
f
the
f
ollow
i
n
g
:
2
013
$
201
2
$
D
efe
rr
ed ta
x
assets
–
14
Deferred tax liabilitie
s
(1
,
142
)
(1,085
)
Net deferred tax liability (1
,
142
)
(1,071
)
102