Cogeco 2007 Annual Report Download - page 56

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54 COGECO CABLE INC. 2007 Notes to Consolidated Financial Statements
5) INCOME TAXES (continued)
The income tax effect of temporary differences that give rise to a signifi cant portion of future income tax assets and
liabilities are as follows:
2007 2006
(amounts are in thousands of dollars) $ $
FUTURE INCOME TAX ASSETS:
NON-CAPITAL LOSS CARRYFORWARDS 18,636 18,616
DEFERRED AND PREPAID INCOME 6,783 6,453
SHARE ISSUANCE COSTS 3,729 —
OTHER 1,282 467
TOTAL FUTURE INCOME TAX ASSETS 30,430 25,536
FUTURE INCOME TAX LIABILITIES:
FIXED ASSETS 86,027 67,952
DEFERRED CHARGES 15,889 13,536
INTANGIBLE ASSETS 175,883 159,981
FOREIGN EXCHANGE GAIN ON LONG-TERM DEBT 18 1,703
OTHER 669 —
TOTAL FUTURE INCOME TAX LIABILITIES 278,486 243,172
NET FUTURE INCOME TAX LIABILITIES 248,056 217,636
TOTAL CURRENT FUTURE INCOME TAX ASSETS 17,986 —
NET LONG-TERM FUTURE INCOME TAX LIABILITIES 266,042 217,636
As at August 31, 2007, the Corporation and its Canadian subsidiaries had accumulated federal and provincial income tax
losses amounting to approximatively $32,929,000 and $47,778,000, respectively, the benefi ts of which have been
recognized
in these fi nancial statements. These losses expire as follows:
2008 2009 2010 2014 2026
(amounts are in thousands of dollars) $ $ $ $ $
FEDERAL 5,018 20,289 1,011 2,007 4,604
PROVINCIAL 23,487 18,295 762 2,007 3,227