Shaw 2015 Annual Report Download - page 43
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Shaw Communications Inc.
Management’s Discussion and Analysis
August 31, 2015
Earnings per share
(millions of Canadian dollars except per share amounts) 2015 2014
Change
%
Net income 880 887 (0.8)
Weighted average number of participating
shares outstanding during period (millions) 468 457 2.4
Earnings per share
Basic 1.80 1.84 (2.2)
Diluted 1.79 1.84 (2.7)
Net income
Net income was $880 million in 2015 compared to $887 million in 2014. The year-over-year changes are summarized in the
table below.
Net income decreased $7 million from the prior year. The current year included higher amortization and increased interest
expense partially offset by higher operating income before restructuring costs and amortization and lower income taxes. Net
other costs and revenue in both years was impacted by various items including gains on sales of wireless spectrum licenses and
media assets as well as write-downs of various assets while the current year also included an equity loss in a joint venture, an
impairment charge for goodwill and distributions received from a venture capital fund investment.
(millions of Canadian dollars)
Increased operating income before restructuring costs and amortization 117
Decreased restructuring costs 6
Increased amortization (131)
Increased interest expense (17)
Change in other net costs and revenue(1) 4
Decreased income taxes 14
(7)
(1) Net other costs and revenue includes gains on sales of wireless spectrum licenses and media assets, business acquisition
costs, accretion of long-term liabilities and provisions, debt retirement costs, equity loss of a joint venture, impairment of
goodwill and other losses as detailed in the Consolidated Statements of Income.
2015 Annual Report Shaw Communications Inc. 41