Shaw 2015 Annual Report Download - page 84

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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]
Interest expense
2015
$
2014
$
Interest expense – long-term debt 299 281
Amortization of senior notes discounts 22
Interest income – short-term (net) (2) (5)
Capitalized interest (16) (12)
283 266
14. OTHER LONG-TERM LIABILITIES
2015
$
2014
$
Pension liabilities [note 26] 119 174
CRTC benefit obligations 23 48
Post retirement liabilities [note 26] 22 18
Share-based awards 11 –
Program rights liabilities 55
Other 66
186 251
15. DEFERRED CREDITS
2015
$
2014
$
IRU prepayments 449 461
Equipment revenue 111 128
Connection fee and installation revenue 24 19
Proceeds on wireless spectrum license option [note 3] –50
Refundable deposit on wireless spectrum license [note 3] –200
Deposit on future fibre sale 22
Other 22
588 862
Amortization of deferred credits for 2015 amounted to $100 (2014 – $89) 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 2015 amounted to $12 (2014 – $12) and was recorded as other
amortization. Amortization of equipment revenue for 2015 amounted to $78 (2014 – $69). Amortization of connection fee and
installation revenue for 2015 amounted to $10 (2014 – $8) and was recorded as revenue.
82 Shaw Communications Inc. 2015 Annual Report