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72 COGECO CABLE INC. 2013 Consolidated financial statements
Year ended August 31, 2012
Balance
beginning of
the year
Recognized
in profit or
loss
Recognized in
other
comprehensive
income
Acquisition
through
business
combinations Other Balance end
of the year
(In thousands of Canadian dollars) $ $ $ $ $ $
Property, plant and equipment (87,555) 95 — 9 — (87,451)
Intangible assets (142,822) (4,356) — (250) — (147,428)
Deferred and prepaid revenue 5,646 (2,668) — (269) — 2,709
Partnerships income (86,801) 15,680 — — — (71,121)
Non-capital losses and other tax credits
carryforwards, net of valuation allowance 3,987 1,879 — (39) — 5,827
Other 3,072 (4,070) 695 — (88) (391)
(304,473) 6,560 695 (549) (88) (297,855)
At August 31, 2013, the Corporation and its subsidiaries had accumulated federal income tax losses amounting to approximately $296.4
million, the benefits of which have been recognized in these financial statements. These losses expire as follows:
2023 2024 2025 Thereafter Total
(In thousands of Canadian dollars) $$ $ $
Canada — — — 15,294 15,294
United States 3,466 44,209 43,546 166,450 257,671
United Kingdom(1) — — — 23,447 23,447
3,466 44,209 43,546 205,191 296,412
(1) Net tax losses in United Kingdom can be carried forward indefinitely to offset against profit of the same enterprise.
10. EARNINGS PER SHARE
The following table provides the reconciliation between basic and diluted earnings per share:
Years ended August 31, 2013 2012
(In thousands of Canadian dollars, except number of shares and per share data) $$
Profit for the year from continuing operations attributable to owners of the Corporation 185,083 169,517
Profit for the year from discontinued operations attributable to owners of the Corporation —55,446
Profit for the year attributable to owners of the Corporation 185,083 224,963
Weighted average number of multiple and subordinate voting shares outstanding 48,646,340 48,654,376
Effect of dilutive stock options (1) 137,719 154,932
Effect of dilutive incentive share units 186,531 148,398
Weighted average number of diluted multiple and subordinate voting shares outstanding 48,970,590 48,957,706
Earnings per share
Basic
Profit for the year from continuing operations 3.80 3.48
Profit for the year from discontinued operations —1.14
Profit for the year 3.80 4.62
Diluted
Profit for the year from continuing operations 3.78 3.46
Profit for the year from discontinued operations —1.13
Profit for the year 3.78 4.60
(1) For the year ended August 31, 2013, 177,348 stock options (157,757 in 2012) were excluded from the calculation of diluted earnings per share as the
exercise price of the options was greater than the average share price of the subordinate voting shares.