Shaw 2014 Annual Report Download - page 105

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2014 and 2013
[all amounts in millions of Canadian dollars except share and per share amounts]
21. OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES AND
RESTRUCTURING COSTS
2014
$
2013
$
Employee salaries and benefits 945 900
Purchases of goods and services 2,092 2,022
3,037 2,922
22. OTHER LOSSES
Other losses generally includes realized and unrealized foreign exchange gains and losses on US
dollar denominated current assets and liabilities, gains and losses on disposal of property, plant
and equipment and minor investments, and the Company’s share of the operations of Burrard
Landing Lot 2 Holdings Partnership. During the prior year, the category included amounts
related to the electrical fire and resulting water damage to the Company’s head office in
Calgary, Alberta that occurred during the fourth quarter of 2012. In fiscal 2013, the Company
received insurance advances of $5 related to its claim and incurred costs of $13 in respect of
ongoing recovery activities. In addition, during the prior year, the Company decided to
discontinue further construction of a real estate project which resulted in a write-down of $14.
During the current year, the category includes additional proceeds of $6 related to the
aforementioned insurance claim and also includes a refund of $5 from the Canwest CCAA plan
implementation fund and a write-down of $6 in respect of discontinued capital projects.
23. INCOME TAXES
Deferred income taxes reflect the net tax effects of temporary differences between the carrying
amounts of assets and liabilities for financial reporting purposes and the amounts used for
income tax purposes. The Company’s net deferred tax liability consists of the following:
2014
$
2013
$
Deferred tax assets 26 –
Deferred tax liabilities (1,105) (1,142)
Net deferred tax liability (1,079) (1,142)
101