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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
]
Significant estimates inherent to this analysis include discount rates and the terminal value. At
M
arch 1, 2013, the estimates that have been utilized in the im
p
airment tests reflect an
y
chan
g
es
i
n market cond
i
t
i
ons and are as
f
ollows
:
Te
rm
i
n
a
lv
a
l
ue
Post
-
ta
x
di
scount rate Term
i
nal
g
rowth rat
e
T
erm
i
nal o
p
erat
i
n
g
i
n
co
m
e befo
r
e
a
m
o
r
ti
z
atio
n
mult
ip
l
e
Cab
l
e8
.
0% 1
.
00% 5
.
50
x
S
atellite 9.5% 1.00% 4.50
x
M
edia 8
.
5%
n
/a 6
.
50
x
A sensitivity analysis of significant estimates is conducted as part of every impairment
t
est. W
i
th res
p
ect to the
i
m
p
a
i
rment tests
p
er
f
ormed
i
n the th
i
rd
q
uarter, the est
i
mated decl
i
n
e
i
n recoverable amount
f
or the sens
i
t
i
v
i
ty o
f
s
i
gn
ifi
cant est
i
mates
i
sas
f
ollows
:
Estimated decline in recoverable amoun
t
Terminal value
1
% increase in
d
iscount rat
e
1% decrease in
terminal growth rate
0
.
5ti
m
es dec
r
ease i
n
term
i
nal o
p
erat
i
n
g
in
c
ome befor
e
amortization
multiple
C
able 9% 5% 3%
Sate
ll
ite 8%
4
%3%
M
edia 8%
n
/a 2%
11. ACCOUNTS PAYABLE AND ACCRUED LIABILITIE
S
2013 2012
$$
T
r
ade
71
50
Program rights
7
0
7
2
C
RT
C
bene
fi
t obl
ig
at
i
on
s
50
43
A
ccrued liabilitie
s
32
4
289
A
ccrued network
f
ees
102
10
5
In
te
r
est a
n
dd
ivi
de
n
ds
2
1
9
21
9
Related
p
artie
s
[
note 27
]
2
3
24
C
urrent port
i
on o
f
un
f
unded pens
i
on plan l
i
ab
i
l
i
t
y
[
note
26]
–
9
8
5
9
811
91