Shaw 2014 Annual Report Download - page 72

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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]
1. CORPORATE INFORMATION
Shaw Communications Inc. (the “Company”) is a diversified Canadian communications
company whose core operating business is providing broadband cable television services,
Internet, Digital Phone and telecommunications services (“Cable”); Direct-to-home (DTH)
satellite services and satellite distribution services (“Satellite”); and programming content
(“Media”).
The Company was incorporated under the laws of the Province of Alberta on December 9, 1966
under the name Capital Cable Television Co. Ltd. and was subsequently continued under the
Business Corporations Act (Alberta) on March 1, 1984 under the name Shaw Cablesystems Ltd.
Its name was changed to Shaw Communications Inc. on May 12, 1993. The Company’s shares
are listed on the Toronto and New York Stock Exchanges. The registered office of the Company
is located at Suite 900, 630 – 3rd Avenue S.W., Calgary, Alberta, Canada T2P 4L4.
2. BASIS OF PRESENTATION AND ACCOUNTING POLICIES
Statement of compliance
These consolidated financial statements of the Company have been prepared in accordance
with International Financial Reporting Standards (“IFRS”) as issued by the International
Accounting Standards Board (“IASB”).
The consolidated financial statements of the Company for the years ended August 31, 2014
and 2013, were approved by the Board of Directors and authorized for issue on November 28,
2014.
Basis of presentation
These consolidated financial statements have been prepared primarily under the historical cost
convention and are expressed in millions of Canadian dollars unless otherwise indicated. Other
measurement bases used are outlined below and in the applicable notes. The consolidated
statements of income are presented using the nature classification for expenses.
Basis of consolidation
(i) Subsidiaries
The consolidated financial statements include the accounts of the Company and those of its
subsidiaries, which are entities over which the Company has control. Control exists when the
Company has power over an investee, is exposed to or has rights to variable returns from its
involvement and has the ability to affect those returns. Intercompany transactions and balances
are eliminated on consolidation. The results of operations of subsidiaries acquired during the
period are included from their respective dates of acquisition, being the time at which the
Company obtains control. Consolidation of a subsidiary ceases when the Company loses control.
A change in ownership interests of a subsidiary, without a loss of control, is accounted for as an
equity transaction. The Company assesses control through share ownership and voting rights.
Non-controlling interests arise from business combinations in which the Company acquires less
than 100% ownership interest. At the time of acquisition, non-controlling interests are
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