MESSAGES YEARIN REVIEW RESULTS
AND OUTLOOK RESOURCES FINANCIAL
REPORTING GOVERNANCE PERFORMANCE About
Non-Operating Items
| (in thousands of Canadian dollars) | For the year ended March 31 | ||
| 2014 | 2013 | % change | |
| (Loss) gain on disposal of property and equipment | (4,004) | 11,891 | (133.7) |
| Dilution gain | 1,040 | - | N/A |
| Gain on business divestitures | - | 7,185 | (100.0) |
| TOTAL | (2,964) | 19,076 | (115.5) |
N/A = Not applicable |
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Non-operating losses of $3.0 million for the year resulted mainly from equipment disposals as we replace old technology. These costs were partially offset by a non-cash dilution gain of $1.0 million related to our investment in Sirius XM. Our prior year non-operating items also included similar losses from replacing old equipment; however, there was an overall gain because of $18.5 million in net proceeds from the disposal of transmission sites in Calgary and Edmonton. These properties were previously used for transmitting English radio signals, which are now transmitted from lower-cost locations. Last year’s results were also unusually high because of a gain of $7.2 million related mostly to the sale of the bold specialty channel to Blue Ant Media.
