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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
]
Š
IFRS 11,
J
oint Arrangements, replaces IAS 3
1
Interests in Joint Venture
s
and SIC
13
J
ointl
y
Controlled Entities – Non-Monetar
y
Contributions b
y
Venturer
s
.
Th
e new
standard class
ifi
es
j
o
i
nt arran
g
ements as e
i
ther
j
o
i
nt o
p
erat
i
ons or
j
o
i
nt ventures.
Š
IFR
S12
,
Di
sclosure o
f
Interests
i
n
O
ther Ent
i
t
i
es
,
s
ets out re
q
u
i
red d
i
sclosures on
application of IFRS 10, IFRS 11, and IAS 28 (amended 2011).
Š
IAS 27,
S
eparate Financial Statement
s
w
as amended in 2011 for the issuance o
f
IFRS 10 and retains the current
g
uidance for se
p
arate financial statements
.
Š
IAS 28
,
Investments in Associate
s
w
as amended in 2011 for chan
g
es based on
i
ssuance o
f
IFR
S10
and IFR
S11
and
p
rov
i
des
g
u
i
dance on account
i
n
gf
or
j
o
i
nt
ventures, as defined by IFRS 11, using the equity method.
Š
I
FRS 13, Fair Value Measuremen
t
, defines fair value, provides guidance on it
s
d
etermination and introduces consistent re
q
uirements for disclosure of fair value
m
easurements and
i
sre
q
u
i
red to be a
pp
l
i
ed
p
ros
p
ect
i
vel
yf
or the annual
p
er
i
od
commencing September 1, 2013.
3. BUSINESS ACQUISITIONS
,
PURCHASE AND SALE OF ASSETS AND
DI
SCO
NTIN
U
ED
O
PERATI
O
N
S
B
us
i
ness acqu
i
s
i
t
i
on
s
2013
T
e
l
ecommun
i
cat
i
ons serv
i
ces
b
us
i
ness
On April 30, 2013, the Company acquired Enmax Envision Inc. (“Envision”), a wholly-owne
d
subsidiar
y
of ENMAX Cor
p
oration, for $222 in cash. Envision
p
rovides telecommunicatio
n
serv
i
ces to bus
i
ness customers
i
n
C
algary. The purpose o
f
the transact
i
on
i
s to expand on the
Company’s business initiatives and enhance the profile of its telecommunications services in
t
he com
p
et
i
t
i
ve
C
al
g
ar
y
bus
i
ness market
p
lace.
E
nvision has contributed a
pp
roximatel
y
$12 of revenue and $1 of net income for the four
m
onth period. If the acquisition had occurred on September 1, 2012, revenue and net incom
e
would have been approximately
$
33 and
$
4, respectively. Acquisition related costs of
$
3t
o
e
ff
ect the transact
i
on have been
i
ncurred and are
i
ncluded
i
nac
q
u
i
s
i
t
i
on and d
i
vestment costs
in
t
h
e state
m
e
n
to
fin
co
m
e
.
80