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Shaw Communications Inc.
Notes to the Consolidated Financial Statements
August 31, 2015 and 2014
[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: Cable telecommunications and Satellite video services to residential customers (“Consumer”); data networking,
Cable telecommunications, Satellite video and fleet tracking services to businesses and public sector entities (“Business
Network Services”); data centre colocation, cloud technology and managed IT solutions to businesses (“Business Infrastructure
Services”); 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 Stock Exchange, TSX Venture Exchange and New York Stock Exchange. 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, 2015 and 2014, were approved by the
Board of Directors and authorized for issue on November 23, 2015.
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 measured at either fair value or their proportionate share of the fair
value of acquiree’s identifiable assets. The Company determines the measurement basis on a transaction by transaction basis.
Subsequent to acquisition, the carrying amount of non-controlling interests is increased or decreased for their share of changes
in equity.
(ii) Joint operations
A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the
assets and obligations for the liabilities, relating to the joint arrangement. Joint control is the contractually agreed sharing of
control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the
parties sharing control. The consolidated financial statements include the Company’s proportionate share of the assets,
liabilities, revenues, and expenses of its interests in joint operations.
60 Shaw Communications Inc. 2015 Annual Report