Shaw 2014 Annual Report Download - page 98

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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]
Interest expense
2014 2013
$$
Interest expense – long-term debt 281 314
Amortization of senior notes discounts 22
Interest income – short-term (net) (5) (2)
Capitalized interest (12) (5)
266 309
14. OTHER LONG-TERM LIABILITIES
2014 2013
$$
Pension liabilities [note 26] 174 123
CRTC benefit obligations 48 77
Post retirement liabilities [note 26] 18 15
Program rights liabilities 55
Other 63
251 223
15. DEFERRED CREDITS
2014 2013
$$
IRU prepayments 461 472
Equipment revenue 128 131
Connection fee and installation revenue 19 14
Proceeds on wireless spectrum license option [note 3] 50 50
Refundable deposit on wireless spectrum license [note 3] 200 200
Deposit on future fibre sale 22
Other 23
862 872
Amortization of deferred credits for 2014 amounted to $89 (2013 – $144) and was recorded in
the accounts as described below.
IRU agreements are in place for periods ranging from 21 to 60 years and are being amortized to
income over the agreement periods. Amortization in respect of the IRU agreements for 2014
amounted to $12 (2013 – $13) and was recorded as other amortization. Amortization of
equipment revenue for 2014 amounted to $69 (2013 – $121). Amortization of connection fee
and installation revenue for 2014 amounted to $8 (2013 – $11) and was recorded as revenue.
94