Cogeco 2008 Annual Report Download - page 56

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Notes to the Consolidated Financial Statements COGECO CABLE INC. 2008 55
The following table shows future income taxes resulting from temporary differences between the carrying amounts of assets and
liabilities for accounting purposes and the amounts used for tax purposes, as well as tax loss carryforwards:
2008 2007
(in thousands of dollars) $ $
FUTURE INCOME TAX ASSETS:
NON-CAPITAL LOSS AND OTHER TAX CREDIT CARRYFORWARDS 6,478 18,636
DEFERRED AND PREPAID INCOME 6,471 6,783
SHARE ISSUE COSTS 2,672 3,729
OTHER 2,257 1,282
TOTAL FUTURE INCOME TAX ASSETS 17,878 30,430
FUTURE INCOME TAX LIABILITIES:
FIXED ASSETS 80,582 86,027
DEFERRED CHARGES 16,866 15,889
INTANGIBLE ASSETS 159,252 175,883
OTHER 933 687
TOTAL FUTURE INCOME TAX LIABILITIES 257,633 278,486
NET FUTURE INCOME TAX LIABILITIES 239,755 248,056
FINANCIAL STATEMENT PRESENTATION:
CURRENT FUTURE INCOME TAX ASSETS 8,661 17,986
LONG-TERM FUTURE INCOME TAX ASSETS 4,819 –
LONG-TERM FUTURE INCOME TAX LIABILITIES 253,235 266,042
239,755 248,056
As at August 31, 2008, the Corporation and its Canadian subsidiaries had accumulated federal and provincial income tax losses
amounting to approximately $5,181,000 and $14,646,000, respectively, the benefits of which have been recognized in these
financial statements. These losses expire as follows:
2009 2010 2014 2028
(in thousands of dollars) $ $ $ $
FEDERAL – – – 5,181
PROVINCIAL 6,696 762 2,007 5,181