Cogeco 2011 Annual Report Download - page 62

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Consolidated financial statements COGECO CABLE INC. 2011 61
3. Segmented information
The Corporation’s activities are comprised of Cable Television, HSI, Telephony and other telecommunications services. The Corporation
considers its Cable Television, HSI, Telephony, managed information technology and infrastructure, and other telecommunications activities as
a single operating segment. The Corporation’s activities are carried out in Canada and in Europe.
The principal financial information per business segment is presented in the table below:
Canada Europe Consolidated
2011 2010 2011 2010 2011 2010
(in thousands of dollars) $ $ $ $ $ $
Revenue 1,188,889 1,093,620 172,277 187,756 1,361,166 1,281,376
Operating costs 634,749 607,072 151,262 155,189 786,011 762,261
Management fees – COGECO Inc. 9,172 9,019 – – 9,172 9,019
Operating income before amortization 544,968 477,529 21,015 32,567 565,983 510,096
A
mortization 206,763 187,273 40,415 71,598 247,178 258,871
Operating income (loss) 338,205 290,256 (19,400) (39,031) 318,805 251,225
Financial expense (revenue) 71,703 65,519 (74) (615) 71,629 64,904
Impairment of goodwill and fixed assets – – 225,873 – 225,873 –
Income taxes 69,432 30,574 (463) (1,556) 68,969 29,018
Net income (loss) 197,070 194,163 (244,736) (36,860) (47,666) 157,303
Total assets 2,675,878 2,407,059 59,622 295,760 2,735,500 2,702,819
Fixed assets 1,219,982 1,094,971 34,594 230,106 1,254,576 1,325,077
Intangible assets 1,047,189 1,017,658 – – 1,047,189 1,017,658
Goodwill 210,986 116,243 – 28,452 210,986 144,695
A
cquisition of fixed assets(1) 291,128 257,321 34,592 51,728 325,720 309,049
(1) Includes fixed assets acquired through capital leases that are excluded from the consolidated statements of cash flows.
4. Amortization
2011 2010
(in thousands of dollars) $ $
Fixed assets 231,683 243,345
Deferred charges 10,721 10,750
Intangible assets 4,774 4,776
247,178 258,871
5. Financial expense
2011 2010
(in thousands of dollars) $ $
Interest on long-term debt 68,863 62,800
Foreign exchange gains (2,145) (988)
A
mortization of deferred transaction costs 1,639 2,366
Other 3,272 726
71,629 64,904