Financial Reporting
Financial Statements
Consolidated Statement of Cash Flows
| (in thousand of Canadian dollars) | NOTE | For the year ended March 31 | |
| 2015 | 2014 (Revised - NOTE 3B) |
||
| CASH FLOWS FROM (USED IN) | |||
| OPERATING ACTIVITIES | |||
| Net results for the year | (47,391) | (17,953) | |
| Adjustments for: | |||
| (Gain) loss on disposal of property and equipment and intangibles | 10, 11 | (5,122) | 4,004 |
| Gain on sale of shares | 13 | (33,548) | - |
| Financing income | (10,834) | (8,759) | |
| Finance costs | 21 | 30,574 | 30,870 |
| Change in fair value of financial instruments designated as at fair value through profit and loss |
25 | 412 | (52) |
| Depreciation of property and equipment | 10 | 110,650 | 114,443 |
| Amortization of intangible assets | 11 | 6,499 | 8,560 |
| Depreciation of assets under finance leases | 12 | 8,049 | 8,384 |
| Share of results in associate | 13 | (15,083) | (4,440) |
| Dilution gain | 13 | - | (1,040) |
| Change in deferred charges | (7,220) | (7,246) | |
| Change in programming asset [long-term] | 7 | (126,362) | (5,246) |
| Change in programming liability [long-term] | 7 | 32,485 | - |
| Amortization of deferred capital funding | 22 | (102,812) | (111,280) |
| Change in deferred revenues [long-term] | 19,391 | 822 | |
| Change in pension plan asset | 16 | (164,700) | (25,642) |
| Change in pension plans and employee-related liabilities [current] | 16 | (4,727) | 2,542 |
| Change in pension plans and employee-related liabilities [long-term] | 16 | 210,489 | 84,419 |
| Acquisition of non-controlling interests | 13 | 41 | - |
| Accretion of promissory notes receivable | 8 | (20) | (19) |
| Movements in working capital | 24 | 215,690 | (47,949) |
| 116,461 | 24,418 | ||
| FINANCING ACTIVITIES | |||
| Repayment of obligations under finance leases | 18 | (14,505) | (11,024) |
| Repayment of bonds | 17 | (12,409) | (11,525) |
| Repayment of notes | 19 | (6,209) | (5,928) |
| Distributions to non-controlling interests | 13 | (175) | (226) |
| Interest paid | (28,467) | (30,203) | |
| (61,765) | (58,906) | ||
| INVESTING ACTIVITIES | |||
| Parliamentary appropriations for capital funding | 22 | 104,740 | 103,856 |
| Additions to property and equipment | 10 | (68,263) | (70,206) |
| Additions to intangible assets | 11 | (10,247) | (12,536) |
| Investment in subsidiary | 13 | (1,875) | - |
| Proceeds from disposal of property and equipment | 10 | 9,642 | 3,439 |
| Proceeds from disposal of shares | 13 | 33,548 | - |
| Collection of promissory notes receivable | 8 | 2,280 | 2,126 |
| Collection of finance leases receivable | 9 | 2,417 | 2,253 |
| Dividends received | 13 | 16,938 | 7,098 |
| Interest received | 9,034 | 8,973 | |
| 98,214 | 45,003 | ||
| Change in cash | 152,910 | 10,515 | |
| Cash, beginning of the year | 61,974 | 51,459 | |
| Cash, end of the year | 214,884 | 61,974 | |
| The accompanying notes form an integral part of the consolidated financial statements. | |||
