Cogeco 2005 Annual Report Download - page 52

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12 STATEMENTS OF CASH FLOW
a) Changes in non-cash operating items
(amounts are in thousands of dollars) 2005 2004
$$
Accounts receivable 4,554 2,761
Prepaid expenses 589 (1,602)
Accounts payable and accrued liabilities 15,688 (174)
Income tax liabilities (166) 112
Deferred and prepaid income 2,992 3,205
23,657 4,302
b) Fixed assets
During the year, fixed assets acquisitions amounted to $112,289,000 ($81,222,000 in 2004), $1,924,000 ($2,583,000 in 2004) of which were
acquired through capital leases. Disbursements for the purchase of fixed assets totalled $110,365,000 ($78,639,000 in 2004).
c) Other information
(amounts are in thousands of dollars) 2005 2004
$$
Interest paid 54,438 56,654
Income taxes paid 2,978 2,014
13 EMPLOYEES FUTURE BENEFITS
The Corporation and its subsidiaries offer their employees contributory defined benefit pension plans, a defined contribution pension plan
or a collective registered retirement savings plan. With respect to the last two plans, the Corporation and its subsidiaries’ obligations are limited
to the payment of the monthly employer’s portion. Expenses related to these two plans amounted to $1,239,000 ($1,247,000 in 2004).
The defined benefit pension plans provide pensions based on the number of years of service and the average salary during the employment
of each participant. In addition, the Corporation and its subsidiaries offer certain executives a supplementary pension plan. The Corporation
measures plans’ assets at fair value and the accrued benefit obligation as at August 31 of each year for all plans. The most recent actuarial
valuation of the pension plans were as of August 31, 2004 and the next required valuation will be as of August 31, 2005.
50
Cogeco Cable Inc. 2005
Notes to Consolidated Financial Statements