Cogeco 2009 Annual Report Download - page 51

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50 COGECO CABLE INC. 2009 Consolidated financial statements
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
YEARS ENDED AUGUST 31, 2009
2008
(in thousands of dollars) $
$
NET INCOME (LOSS)
(256,675) 133,282
OTHER COMPREHENSIVE INCOME
UNREALIZED GAINS ON DERIVATIVE FINANCIAL INSTRUMENTS DESIGNATED AS CASH
FLOW HEDGES, NET OF INCOME TAX EXPENSE OF $751,000 ($1,045,000 IN 2008)
1,317
2,661
RECLASSIFICATION TO NET INCOME OF REALIZED GAINS ON DERIVATIVE FINANCIAL
INSTRUMENTS DESIGNATED AS CASH FLOW HEDGES, NET OF INCOME TAX EXPENSE
OF $694,000 ($134,000 IN 2008)
(5,040) (736)
UNREALIZED GAINS ON TRANSLATION OF A NET INVESTMENT IN SELF-SUSTAINING
FOREIGN SUBSIDIARIES
11,261
53,184
UNREALIZED LOSSES ON TRANSLATION OF LONG-TERM DEBTS DESIGNATED AS HEDGES
OF A NET INVESTMENT IN SELF-SUSTAINING FOREIGN SUBSIDIARIES
(3,311) (34,414)
4,227
20,695
COMPREHENSIVE INCOME (LOSS)
(252,448) 153,977
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS
YEARS ENDED AUGUST 31, 2009
2008
(in thousands of dollars) $
$
BALANCE AS REPORTED, BEGINNING OF YEAR
297,150
181,952
CHANGES IN ACCOUNTING POLICIES
(NOTE 1 B))
–
1,307
BALANCE AS RESTATED, BEGINNING OF YEAR
297,150
183,259
NET INCOME (LOSS)
(256,675)
133,282
DIVIDENDS ON MULTIPLE VOTING SHARES
(7,532)
(6,276)
DIVIDENDS ON SUBORDINATE VOTING SHARES
(15,771)
(13,115)
BALANCE, END OF YEAR
17,172
297,150