Cogeco 2014 Annual Report Download - page 89

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88 COGECO CABLE INC. 2014 Consolidated financial statements
participants in connection with the DSU Plan. A compensation expense of $740,000 ($421,000 in 2013) was recorded for the year ended
August 31, 2014 for the liability related to this plan.
Under the DSU Plan, the following DSUs were issued by the Corporation and are outstanding at August 31:
Years ended August 31, 2014 2013
Outstanding, beginning of the year 23,745 20,491
Issued 7,228 5,573
Redeemed —(2,868)
Dividend equivalents 636 549
Outstanding, end of the year 31,609 23,745
18. ACCUMULATED OTHER COMPREHENSIVE INCOME
During fiscal 2014 and 2013, accumulated other comprehensive income variations were as follows:
Years ended August 31, 2014 and 2013 Cash flow hedge
reserve Foreign currency
translation Total
(In thousands of Canadian dollars) $$$
(restated, Note 6) (restated, Note 6)
Balance at September 1, 2012 3,105 — 3,105
Other comprehensive income (loss) (497) 16,494 15,997
Balance at August 31, 2013 2,608 16,494 19,102
Other comprehensive income (loss) (1,312) 10,535 9,223
Balance at August 31, 2014 1,296 27,029 28,325
19. STATEMENTS OF CASH FLOWS
CHANGES IN NON-CASH OPERATING ACTIVITIES
Years ended August 31, 2014 2013
(In thousands of Canadian dollars) $$
Trade and other receivables (7,965) (4,533)
Prepaid expenses and other (2,719) 4,184
Trade and other payables 53,719 (28,117)
Provisions 1,234 (732)
Deferred and prepaid revenue and other liabilities 4,334 5,867
48,603 (23,331)
20. EMPLOYEE BENEFITS
The Corporation and its subsidiaries offer to their employees defined benefit plans, defined contribution plans or collective registered retirement
savings plans. With respect to the defined contribution plans and the collective registered retirement savings plans, the Corporation and its
subsidiaries' obligations are limited to the payment of the monthly employer's contribution.
The Corporation and its subsidiaries sponsor a defined benefit plan for the benefit of its employees and a separate defined benefit plan for
the benefit of its senior executives, which provide pensions based on the number of years of service and the average salary during the
employment of each participant. In addition, the Corporation and its subsidiaries offer to their designated senior executives a supplementary
pension plan. The Corporation and its subsidiaries measure plan assets at fair value and the defined benefit obligation at August 31 of each
year for all plans. The most recent actuarial valuation for the pension plan for the benefit of the employees was at August 31, 2013 and the
next required valuation is at August 31, 2014. For the senior executives' plans, the most recent actuarial valuation was at August 31, 2011
and the next required valuation is at August 31, 2014.
The total cash amount paid or payable for employee future benefits for all plans, consisting of cash contributed by the Corporation to its
funded pension plans, cash payments directly to beneficiaries for its unfunded other benefit plans, and cash contributed to its defined
contribution plans.