Document and Entity Information
Document and Entity Information - shares | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Document Information [Line Items] | ||
Entity Current Reporting Status | Yes | |
Amendment Flag | false | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2019 | |
Document Period End Date | Aug. 31, 2019 | |
Document Type | 40-F | |
Current Fiscal Year End Date | --08-31 | |
Entity Central Index Key | 0000932872 | |
Entity Registrant Name | SHAW COMMUNICATIONS INC | |
Entity Emerging Growth Company | false | |
ifrs Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 22,420,064 | |
ifrs Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 484,194,344 | |
ifrs Series A Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 10,012,393 | |
ifrs Series B Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,987,607 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | |
Current | ||||
Cash | $ 1,446 | $ 384 | $ 507 | |
Accounts receivable (note 4) | 287 | 253 | 286 | |
Inventories (note 5) | 86 | 61 | 59 | |
Other current assets (note 6) | 291 | 273 | 179 | |
Current portion of contract assets (note 22) | 106 | 103 | 31 | |
Assets held for sale (note 3) | 0 | 0 | 61 | |
Total current assets | 2,216 | 1,074 | 1,123 | |
Investments and other assets (notes 7 and 30) | 37 | 660 | 937 | |
Property, plant and equipment (note 8) | 4,883 | 4,702 | 4,394 | |
Other long-term assets (note 9) | 195 | 197 | 216 | |
Deferred income tax assets (note 25) | 4 | 4 | 4 | |
Intangibles (note 10) | 7,979 | 7,482 | 7,435 | |
Goodwill (note 10) | 280 | 280 | 280 | |
Contract assets (note 22) | 52 | 32 | 28 | |
Total assets | 15,646 | 14,431 | 14,417 | |
Current | ||||
Short-term borrowings (note 11) | 40 | 40 | 0 | |
Accounts payable and accrued liabilities (note 12) | 1,015 | [1] | 970 | 909 |
Provisions (note 13) | 224 | 245 | 76 | |
Income taxes payable | 82 | 133 | 151 | |
Current portion of contract liabilities (note 22) | 223 | 226 | 214 | |
Current portion of long-term debt (notes 14 and 30) | 1,251 | 1 | 2 | |
Liabilities held for sale (note 3) | 0 | 0 | 39 | |
Total current liabilities | 2,835 | 1,615 | 1,391 | |
Long-term debt (notes 14 and 30) | 4,057 | 4,310 | 4,298 | |
Other long-term liabilities (notes 15 and 28) | 75 | 13 | 114 | |
Provisions (note 13) | 79 | 179 | 67 | |
Deferred credits (note 16) | 425 | 442 | 469 | |
Contract liabilities (note 22) | 15 | 18 | 21 | |
Deferred income tax liabilities (note 25) | 1,875 | 1,884 | 1,863 | |
Total liabilities | 9,361 | 8,461 | 8,223 | |
Commitments and contingencies (ote 14, 27 and 28) | ||||
Shareholders' equity | ||||
Common and preferred shareholders | 6,282 | 5,969 | 6,193 | |
Non-controlling interests in subsidiaries | 3 | 1 | 1 | |
Total equity | 6,285 | 5,970 | 6,194 | |
Total equity and liabilities | $ 15,646 | $ 14,431 | $ 14,417 | |
[1] | Includes accrued interest and dividends of $ 244 . |
Consolidated Statements of Inco
Consolidated Statements of Income - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Profit or loss [abstract] | |||
Revenue | $ 5,340 | $ 5,189 | |
Operating, general and administrative expenses (note 23) | (3,186) | (3,132) | |
Restructuring costs (notes 13 and 23) | [1] | 9 | (446) |
Amortization: | |||
Deferred equipment revenue (note 16) | 21 | 30 | |
Deferred equipment costs (note 9) | (85) | (110) | |
Property, plant and equipment, intangibles and other (notes 8,9,10 &16) | (974) | (945) | |
Operating income from continuing operations | 1,125 | 586 | |
Amortization of financing costs - long-term debt (note 14) | (3) | (3) | |
Interest expense (notes 14 and 26) | [1] | (258) | (248) |
Equity income (loss) of an associate or joint venture (note 7) | 46 | (200) | |
Loss on disposal of an associate or joint venture (note 7) | (109) | 0 | |
Other gains (losses) (note 24) | 50 | 32 | |
Income from continuing operations before income taxes | 851 | 167 | |
Current income tax expense (note 25) | [1] | 114 | 137 |
Deferred income tax expense (note 25) | 4 | (9) | |
Profit (loss) from continuing operations | 733 | 39 | |
Income (loss) from discontinued operations, net of tax (note 3) | 0 | (6) | |
Net income | 733 | 33 | |
Net income from continuing operations attributable to: | |||
Equity shareholders | 731 | 39 | |
Non-controlling interests | 2 | 0 | |
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ 0 | $ (6) | |
Basic earnings (loss) per share (note 19) | |||
Continuing operations | $ 1.41 | $ 0.06 | |
Discontinued operations | 0 | (0.01) | |
Total basic earnings (loss) per share | 1.41 | 0.05 | |
Diluted earnings (loss) per share (note 19) | |||
Continuing operations | 1.41 | 0.06 | |
Discontinued operations | 0 | (0.01) | |
Total diluted earnings (loss) per share | $ 1.41 | $ 0.05 | |
[1] | The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||
Net income | $ 733 | $ 33 |
Items that may subsequently be reclassified to income: | ||
Change in unrealized fair value of derivatives designated as cash flow hedges | 2 | 5 |
Adjustment for hedged items recognized in the period | (2) | 3 |
Share of other comprehensive income of associates | (13) | 10 |
Reclassification of accumulated gain to income related to the sale of an associate | (3) | 0 |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | (16) | 18 |
Items that will not be subsequently reclassified to income: | ||
Remeasurements on employee benefit plans | (39) | 74 |
Total other comprehensive income | (55) | 92 |
Total comprehensive income | 678 | 125 |
Comprehensive income attributable to: | ||
Equity shareholders | $ 678 | $ 125 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - CAD ($) $ in Millions | Total | Issued Capital [Member] | Share Premium [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Equity Attributable To Owners Of Parent [Member] | Noncontrolling Interests [Member] |
Restated balance | $ 6,194 | $ 4,090 | $ 30 | $ 2,204 | $ (131) | $ 6,193 | $ 1 |
Balance as previously reported (As reported [Member]) at Aug. 31, 2017 | 6,154 | 4,090 | 30 | 2,164 | (131) | 6,153 | 1 |
Balance as previously reported (Increase Decrease Due To Application Of IFRS 15 [Member]) at Aug. 31, 2017 | 40 | ||||||
Balance as previously reported (Increase Decrease Due To Voluntary Changes In Accounting Policy [Member]) at Aug. 31, 2017 | 0 | ||||||
Balance as previously reported at Aug. 31, 2017 | 6,194 | ||||||
Effects if changes in accounting principles (note 2) | Increase Decrease Due To Application Of IFRS 15 [Member] | 22 | 0 | 0 | 22 | 0 | 22 | 0 |
Effects if changes in accounting principles (note 2) | Increase Decrease Due To Voluntary Changes In Accounting Policy [Member] | (9) | 0 | 0 | (9) | 0 | (9) | 0 |
Net income | As reported [Member] | 60 | ||||||
Net income | Increase Decrease Due To Application Of IFRS 15 [Member] | (17) | ||||||
Net income | Increase Decrease Due To Voluntary Changes In Accounting Policy [Member] | (10) | ||||||
Net income | 33 | 0 | 0 | 33 | 0 | 33 | 0 |
Other comprehensive income (loss) | 92 | 0 | 0 | 0 | 92 | 92 | 0 |
Total comprehensive income | 125 | 0 | 0 | 33 | 92 | 125 | 0 |
Dividends | (394) | 0 | 0 | (394) | 0 | (394) | 0 |
Dividend reinvestment plan | 0 | 211 | 0 | (211) | 0 | 0 | 0 |
Shares issued under stock option plan | 42 | 48 | (6) | 0 | 0 | 42 | 0 |
Share-based compensation | 3 | 0 | 3 | 0 | 0 | 3 | 0 |
Balance (As reported [Member]) at Aug. 31, 2018 | 5,957 | 4,349 | 27 | 1,619 | (39) | 5,956 | 1 |
Balance (Increase Decrease Due To Application Of IFRS 15 [Member]) at Aug. 31, 2018 | 23 | ||||||
Balance (Increase Decrease Due To Voluntary Changes In Accounting Policy [Member]) at Aug. 31, 2018 | (10) | ||||||
Balance at Aug. 31, 2018 | 5,970 | ||||||
Restated balance | Increase Decrease Due To Application Of IFRS 15 [Member] | 5,979 | 4,349 | 27 | 1,641 | (39) | 5,978 | 1 |
Restated balance | 5,970 | 4,349 | 27 | 1,632 | (39) | 5,969 | 1 |
Net income | 733 | 0 | 0 | 731 | 0 | 731 | 2 |
Other comprehensive income (loss) | (55) | 0 | 0 | 0 | (55) | (55) | 0 |
Total comprehensive income | 678 | 0 | 0 | 731 | (55) | 676 | 2 |
Dividends | (401) | 0 | 0 | (401) | 0 | (401) | 0 |
Dividend reinvestment plan | 0 | 217 | 0 | (217) | 0 | 0 | 0 |
Shares issued under stock option plan | 35 | 39 | (4) | 0 | 0 | 35 | 0 |
Share-based compensation | 3 | 0 | 3 | 0 | 0 | 3 | 0 |
Balance at Aug. 31, 2019 | $ 6,285 | $ 4,605 | $ 26 | $ 1,745 | $ (94) | $ 6,282 | $ 3 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
OPERATING ACTIVITIES | ||
Funds flow from operations (note 31) | $ 1,777 | $ 1,177 |
Net change in non-cash balances related to continuing operations | (209) | 178 |
Operating activities from discontinued operations | 0 | (2) |
Operating activities | 1,568 | 1,353 |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment (note 26) | (1,109) | (1,121) |
Additions to equipment costs (net) (note 26) | (42) | (49) |
Additions to other intangibles (note 26) | (147) | (131) |
Proceeds on sale of non-core business | 40 | 0 |
Proceeds on sale of spectrum licences | 0 | 35 |
Spectrum acquisitions | (492) | (25) |
Proceeds on sale of discontinued operations, net of cash sold | 0 | 18 |
Proceeds on sale of investments | 551 | 0 |
Net additions to investments and other assets | 7 | 88 |
Proceeds on disposal of property, plant and equipment (notes 26 and 31) | 59 | 9 |
Investing activities | (1,133) | (1,176) |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 0 | 40 |
Increase in long-term debt | 1,000 | 10 |
Bank credit facility arrangement costs | (9) | 0 |
Issue of Class B Non-Voting Shares | 35 | 43 |
Dividends paid on Class A Shares and Class B Non-Voting Shares | (389) | (384) |
Dividends paid on Series A Preferred Shares | (9) | (8) |
Other | (1) | (1) |
Financing activities | 627 | (300) |
Increase (decrease) in cash | 1,062 | (123) |
Cash, beginning of year | 384 | 507 |
Cash, end of year | $ 1,446 | $ 384 |
Corporate Information
Corporate Information | 12 Months Ended |
Aug. 31, 2019 | |
Corporate Information [Abstract] | |
Corporate Information | 1. CORPORATE INFORMATION Shaw Communications Inc. (the “Company”) is a diversified Canadian connectivity company whose core operating business is providing: Cable telecommunications, Satellite video services and data networking to residential customers, business and public-sector entities ("Wireline "); and wireless services for voice and data communications (“Wireless”). The Company was incorporated under the laws of the Province of Alberta on December 9, 1966 under the name Capital Cable Television Co. Ltd. and was subsequently continued under the Business Corporations Act (Alberta) on March 1, 1984 under the name Shaw Cablesystems Ltd. Its name was changed to Shaw Communications Inc. on May 12, 1993. The Company’s shares are listed on the Toronto Stock Exchange (“TSX”), TSX Venture Exchange and Ne w York Stock Exchange (“NYSE”) (Symbol: TSX - SJR.B, SJR.PR.A, SJR.PR.B, NYSE - SJR, and TSXV - SJR.A) . The registered office of the Company is located at Suite 900, 630 – 3rd Avenue S.W., Calgary, Alberta, Canada T2P 4L4. |
Basis Of Presentation And Accou
Basis Of Presentation And Accounting Policies | 12 Months Ended |
Aug. 31, 2019 | |
Basis of Presentation and Accounting Policies [Abstract] | |
Basis Of Presentation And Accounting Policies | 2. BASIS OF PRESENTATION AND AC COUNTING POLICIES Statement of compliance These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements of the Company for the years ended August 31, 201 9 and 201 8 , were approved by the Board of Directors and authorized for issue on November 27 , 201 9 . Basis of presentation These consolidated financial statements have been prepared primarily under the historical cost convention and are expressed in millions of Canadian dollars unless otherwise indicated. Other measurement bases used are outlined below and in the applicable notes. The consolidated stateme nts of income are presented using the nature classification for expenses. Certain comparative figures have been reclassified to conform to the current year’s presentation. Certain figures included within these consolidated financial statements have been adjusted to correct an immaterial , inadvertent overstatement of previously reported wireless service revenue for the year ended August 31, 2019 of $ 7 million. Basis of consolidation (i) Subsidiaries The consolidated financial statements include the accou nts of the Company and those of its subsidiaries, which are entities over which the Company has control. Control exists when the Company has power over an investee, is exposed to or has rights to variable returns from its involvement and has the ability to affect those returns. Intercompany transactions and balances are eliminated on consolidation. The results of operations of subsidiaries acquired during the period are included from their respective dates of acquisition, being the time at which the Compan y obtains control. Consolidation of a subsidiary ceases when the Company loses control. A change in ownership interests of a subsidiary, without a loss of control, is accounted for as an equity transaction. The Company assesses control through share owne rship and voting rights. Non-controlling interests arise from business combinations in which the Company acquires less than 100% ownership interest. At the time of acquisition, non-controlling interests are measured at either fair value or their proportionate share of the fair va lue of the acquiree’s identifiable assets. The Company determines the measurement basis on a transaction by transaction basis. Subsequent to acquisition, the carrying amount of non-controlling interests is increased or decreased for their share of change s in equity. (ii) Joint operations A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities, relating to the joint arrangement. Joint cont rol is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The consolidated financial statements include the Company’s propo rtionate share of the assets, liabilities, revenues, and expenses of its interests in joint operations. The Company’s joint operations consist of a 33.33 % interest in the Burrard Landing Lot 2 Holdings Partnership (the “Partnership”). The Partnership owns and leases commercial space in Shaw Tower in Vancouver, BC, which is the Company’s headquarters for its lower mainland operations. In classifying its 33.33 % interest in the Partnership as a joint operation, the Company considered the terms and conditions of the partnership agreement and other facts and circumstances including the primary purpose of Shaw Tower which is to provide lease space to the partners. Investments in associates and joint ventures Associates are entities over which the Company has significant influence. Significant influence is the power to participate in the operating and financial policies of the investee, but is not control or joint control. A joint venture is a type of joint arrangement whereby the parties that have joint c ontrol of the arrangement have rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of th e parties sharing control. Investments in associates and joint ventures are accounted for using the equity method. Investments of this nature are recorded at original cost and adjusted periodically to recognize the Company’s proportionate share of the ass ociate’s or joint venture’s net income/loss and other comprehensive income/loss after the date of investment, additional contributions made and dividends received. The Company classified its approximate 38 % participating interest in Corus Entertainment Inc. (“Corus”) as an investment in an associate after considering both companies are subject to common control and the ability of the Company to appoint directors to Corus’ Board of Directors. On May 31, 2019, the Company sold all of its interest in Corus. The Company classified its 50 % interest in the Shomi Partnership (“shomi”) as an investment in a joint venture after considering the terms and conditions of the partnership . In September 2016, Shaw and Rogers Communications Inc., announced the decision to wind down its operations with service ending November 30, 2016. In December 2017, the remaining assets associated with shomi were transferred to their respective partners and the partnership was officially wound up. Revenue and expenses T he Company has multiple deliverable arrangements comprised of upfront fees (subscriber connection and installation fee revenue, customer premise equipment revenue, handset equipment revenue) and related subscription and service revenue. Upfront fees charge d to customers do not constitute separate units of accounting, therefore these revenue streams are assessed as an integrated package. (i) Revenue The Company records revenue from contracts with customers in accordance with the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and, (5) recognize revenue w hen (or as) we satisfy a performance obligation. Revenue for each performance obligation is recognized either over time or at a point in time. For performance obligations satisfied over time, revenue is recognized as the services are provided. Revenues o n certain long-term contracts are recognized using output methods based on products delivered, performance completed to date and time elapsed. Revenue from Cable, Internet, Digital Phone, Direct-to-Home (“DTH”) and Wireless customers includes subscriber re venue earned as services are provided. Satellite distribution services and telecommunications service revenue is recognized in the period in which the services are rendered to customers. In addition to monthly service plans, the Company also offers multi-y ear service plans in which the total amount of the contractual service revenue is accounted for on a straight-line basis over the term of the plan. Fees for wireless voice, text and data services on a pay-per-use basis are recognized in the period that the service is provided. Revenue from data centre customers includes colocation and other services revenue, including managed infrastructure revenue. Colocation revenue is recognized on a straight-line line basis over the term of the customer contract. Othe r services revenue, including managed infrastructure revenue, is recognized as the services are provided. Revenue for performance obligations satisfied at a point in time is recognized when control of the item or service transfers to the customer. Revenue from the direct sale of equipment to wireless subscribers or dealers is recognized when the equipment is delivered and accepted by the subscribers or dealers. For bundled arrangements (e.g. wireless handsets, and voice and data services), items are accou nted for as separate performance obligations if the item meets the definition of a distinct good or service. Stand-alone selling prices are determined using observable prices adjusted for market conditions and other factors, as appropriate. The Company off ers a discretionary wireless handset discount program, whereby the subscriber earns the applicable discount by maintaining services with the Company, such that the receivable relating to the discount at inception of the transaction is reduced over a period of time. This discount is allocated proportionately between the equipment and service revenue, with the equipment discount recognized when the handset is delivered and the corresponding service discount is classified as a contract asset. The contract asset is reduced on a straight-line basis over the period which the discount is forgiven to a maximum of two years with an offsetting reduction to service revenue. The Company also offers a plan allowing customers to receive a larger up-front handset discount than they would otherwise qualify for if they pay a predetermined incremental charge to their existing service plan on a monthly basis. The charge is billed on a monthly basis but is recognized as revenue when the handset is delivered and accepted by the subscriber . The amount receivable is classified as part of other current or other long-term assets , as applicable, in the consolidated statement of fin ancial position. When a customer can modify their contract within predefined terms such that we are not able to enforce the transaction price agreed to, but can only contractually enforce a lower amount, we allocate revenue between performance obligations using the minimum enforceable rights and obligations and any excess amount is recognized as revenue as its earned. (ii) Contract assets and liabilities We record a contract asset when we have provided goods and services to our customer but our right to r elated consideration for the performance obligation is conditional on satisfying other performance obligations. Contract assets are transferred to trade receivables when our right to consideration becomes conditional only as to the passage of time. A contr act liability is recognized when we receive consideration in advance of the transfer of products or services to the customer. We account for contract assets and liabilities on a contract-by-contract basis, with each contract presented as either a net contr act asset or a net contract liability accordingly. Subscriber connection fees received from Cable, Internet, and Digital Phone customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over three years. The costs of physically connecting a new home are capitalized as part of the distribution system and costs of disconnections are expensed as incurred. Initial setup fees related to the installation of data centre services and installation revenue received on contracts with commercial business customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over the related service contract, which generally span two to ten years. Direct and incremental costs associated with the installation of services or service contract, in an amount not exceeding the upfr ont revenue, are deferred as contract assets and recognized as an operating expense on a straight-line basis over the same period. (iii) Deferred commission cost assets We defer the incremental cost to obtain or fulfill a contract with a customer over th eir expected period of benefit to the extent they are recoverable. These costs include certain commissions paid to internal and external representatives. We defer them as deferred commission cost assets in other assets and amortize them to operating costs over the pattern of the transfer of goods and services to the customer, which is typically evenly over either 24 or 36 consecutive months. Direct and incremental initial selling, administrative and connection costs , including commissions related to subscr iber acquisitions are deferred and recognized as an operating expense on a straight-line basis over three years . (iv) Deferred equipment revenue and deferred equipment costs Revenue from sales of DTH equipment is deferred and recognized on a straight-li ne basis over three years commencing when subscriber service is activated. The total cost of the equipment, including installation, represents an inventoriable cost which is deferred and recognized on a straight-line basis over the same period. The DTH e quipment is generally sold to customers at cost or a subsidized price in order to expand the Company’s customer base. Revenue from sales of satellite tracking hardware and costs of goods sold is deferred and recognized on a straight-line basis over the re lated service contract for monthly service charges for air time, which is generally five years. The amortization of the revenue and cost of sale of satellite service equipment commences when goods are shipped. Recognition of deferred equipment revenue an d deferred equipment costs is recorded as deferred equipment revenue amortization and deferred equipment costs amortization, respectively. ( v ) Deferred IRU revenue Prepayments received under indefeasible right to use (“IRU”) agreements are amortized on a straight-line basis into income over the term of the agreement and included in amortization of property, plant and equipment, intangibles and other in the consolidated statements of income. Cash Cash is presented net of outstanding cheques. When the amount of outstanding cheques and the amount drawn under the Company’s revolving term facility are greater than the amount of cash, the net amount is presented as bank indebtedness. Securitization of trade receivables Sales of trade receivables in securitization transactions are recognized as collateralized short-term borrowings as we do not transfer control and substantially all the risks and rewards of ownership to another entity and thus do not result in our de-recognition of the trade receivable s sold. Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts for the estimated losses resulting from the inability of its customers to make required payments. In determining the allowance, the Company considers factors such as the number of days the account is past due, whether or not the customer continues to receive service, the Company’s past collection history and changes in business circumstances. Inventories Inventories include subscriber equipment such as DTH receivers, which are held pending rental or sale at cost or at a subsidized price and wireless handsets, accessories and SIM cards . When subscriber equipment is sold, the equipment revenue and equipment costs are deferred and amortized over three years. When the subscriber equipment is rented, it is transferred to property, plant and equipment and amortized over its useful life. Inventories are determined on a first-in, first-out basis, and are stated at cost due to the eventual capital nature as either a n addition to property, plant and equipment or deferred equipment costs. Inventories of wireless handsets, accessories and SIM cards are carried at the lower of cost and net realizable value. Cost is determined using the weighted average method and inc ludes expenditures incurred in acquiring the inventories and bringing them to their existing condition and location. Net realizable value is the estimated selling price in the ordinary course of business, less selling expenses. Property, plant and equipm ent Property, plant and equipment are recorded at purchase cost. Direct labour and other directly attributable costs incurred to construct new assets, upgrade existing assets and connect new subscribers are capitalized as well as borrowing costs on qualif ying assets. In addition, any asset removal and site restoration costs in connection with the retirement of assets are capitalized. Repairs and maintenance expenditures are charged to operating expense as incurred. Amortization is recorded on a straight-l ine basis over the estimated useful lives of assets as follows: Asset Estimated useful life Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 years Satellite audio, video and data network equipment and DTH receiving equipment 3-15 years Buildings 15-40 years Data centre infrastructure 3-21 years Data processing 4-10 years Other 4-20 years The Company reviews the estimates of lives and useful lives on a regular basis. Assets held for sale and discontinued operations Non-current assets and disposal groups are classified as held for sale when specific criteria are met and are measured at the lower of carrying amount and estimated fair value less costs to sell. Assets held for sale are not amortized and are reported sep arately on the statement of financial position. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. Discontinued o perations reporting occurs when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major impact on the Company’s operations and financial results, and where the operations and cash flows can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company. The results of discontinued operations are excluded from both continuing operations and business segment information in the consolidated financial statements and the notes to the consolidated financial statements, unless otherwise noted, and are presented net of tax in the statement of income for the current and comparative periods. Refer to Note 3 for further information regarding the Company’s disc ontinued operations. Other long-term assets Other long-term assets primarily include (i) equipment costs, as described in the revenue and expenses accounting policy, deferred and amortized on a straight-line basis over three to five years, (ii) the non-cu rrent portion of wireless handset discounts receivable as described in the revenue and expenses accounting policy, ( i ii ) credit facility arrangement fees amortized on a straight-line basis over the term of the facility, ( i v) long-term receivables, (v) netw ork capacity leases, (vi) the non-current portion of prepaid maintenance and support contracts and (vii) direct costs in connection with initial setup fees and installation of services , as described in the revenue and expenses accounting policy, deferred a nd amortized on a straight-line basis over two to ten years. Intangibles The excess of the cost of acquiring cable, satellite, media, data centre and wireless businesses over the fair value of related net identifiable tangible and intangible assets acquir ed is allocated to goodwill. Net identifiable intangible assets acquired consist of amounts allocated to broadcast rights and licences, wireless spectrum licences, trademarks, brands, program rights, customer relationships and software assets. Broadcast ri ghts and licences, wireless spectrum licences, trademarks and brands represent identifiable assets with indefinite useful lives. Customer relationships represent the value of customer contracts and relationships acquired in a business combination and are amortized on a straight-line basis over their estimated useful lives ranging from 4 – 15 years. Software that is not an integral part of the related hardware is classified as an intangible asset. Internally developed software assets are recorded at histo rical cost and include direct material and labour costs as well as borrowing costs on qualifying assets. Software assets are amortized on a straight-line basis over estimated useful lives ranging from 3 – 10 years. The Company reviews the estimates of liv es and useful lives on a regular basis. Borrowing costs The Company capitalizes borrowing costs on qualifying assets that take more than one year to construct or develop using the Company’s weighted average cost of borrowing which approximated 5 % ( 201 8 - 6 %). Impairment (i) Goodwill and indefinite-life intangibles The Company tests goodwill and indefinite-life intangibles for impairment annually (as at February 1) and when events or changes in circumstances indicate that the carrying value may be impai red. The recoverable amount of each cash-generating unit (“CGU”) is determined based on the higher of the CGU’s fair value less costs to sell (“FVLCS”) and its value in use (“VIU”). A CGU is the smallest identifiable group of assets that generate cash fl ows that are independent of the cash inflows from other assets or groups of assets. The Company’s cash generating units are Cable, Satellite, and Wireless. Where the recoverable amount of the CGU is less than its carrying amount, an impairment loss is reco gnized. Impairment losses relating to goodwill cannot be reversed in future periods. (ii) Non-financial assets with finite useful lives For non-financial assets, such as property, plant and equipment and finite-life intangible assets, an assessment is made at each reporting date as to whether there is an indication that an asset may be impaired. If any indication exists, the recoverable a mount of the asset is determined based on the higher of FVLCS and VIU. Where the carrying amount of the asset exceeds its recoverable amount, the asset is considered impaired and written down to its recoverable amount. Previously recognized impairment los ses are reviewed for possible reversal at each reporting date and all or a portion of the impairment is reversed if the asset’s value has increased. Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The timing or amount of the ou tflow may still be uncertain. Provisions are measured using the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account risks and uncertainties associated with the obligation. Pro visions are discounted where the time value of money is considered material. (i) Asset retirement obligations The Company recognizes the fair value of a liability for an asset retirement obligation in the period in which it is incurred, on a discounted b asis, with a corresponding increase to the carrying amount of property and equipment, primarily in respect of wireless and transmitter sites. This cost is amortized on the same basis as the related asset. The liability is subsequently increased for the pas sage of time and the accretion is recorded in the income statement as accretion of long-term liabilities and provisions. The discount rates applied are subsequently adjusted to current rates as required at the end of reporting periods. Revisions due to the estimated timing of cash flows or the amount required to settle the obligation may result in an increase or decrease in the liability. Actual costs incurred upon settlement of the obligation are charged against the liability to the extent recorded. (ii) Restructuring provisions Restructuring provisions, primarily in respect of employee termination benefits, are recognized when a detailed plan for the restructuring exists and a valid expectation has been raised to those affected that the plan will be carr ied out. (iii) Other provisions Provisions for disputes, legal claims and contingencies are recognized when warranted. The Company establishes provisions after taking into consideration legal assessments (if applicable), expected availability of insurance or other recourse and other available information. Deferred credits Deferred credits primarily include: (i) prepayments received under IRU agreements amortized on a straight-line basis into income over the term of the agreement, (ii) equipment revenue , as described in the revenue and expenses accounting policy, deferred and amortized over three to five years, ( i ii ) a deposit on a future fibre sale. Leases (i) Operating leases Rent expense for real estate leases that have escalating lease payments is r ecorded on a straight-line basis over the term of the lease. The difference between the expense recorded and the amount paid is recorded as deferred rent and included in deferred credits in the statement of financial position. (ii) Finance leases Leases o f property and equipment that transfer substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalized at the commencement of the lease at the fair value of the leased property or, if lower, at the pres ent value of the minimum lease payments. Lease payments are apportioned between interest expense and reduction of the lease liability. The property and equipment acquired under finance leases is depreciated over the shorter of the useful life of the asset and the lease term. Income taxes The Company accounts for income taxes using the liability method, whereby deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabili ties measured using substantively enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset and they relate to income tax es levied by the same authority in the same taxable entity. Income tax expense for the period is the tax payable for the period using tax rates substantively enacted at the reporting date, any adjustments to taxes payable in respect of previous years and a ny change during the period in deferred income tax assets and liabilities, except to the extent that they relate to a business combination or divestment, items recognized directly in equity or in other comprehensive income. The Company records interest and penalties related to income taxes in interest expense. Tax credits and government grants The Company receives tax credits primarily related to its research and development activities. Government financial assistance is recognized when management has reasonable assurance that the conditions of the government programs are met and accounted for as a reduction of related costs, whether capitalized and amortized or expensed in the period the costs are incurred. Foreign currency translation Transactions originating in foreign currencies are translated into Canadian dollars at the exchange rate at the date of the transaction. Monetary assets and liabilities are translated at the period-end rate of exchange and non-monetary items are translate d at historic exchange rates. The net foreign exchange gain/(loss) recognized on the translation and settlement of current monetary assets and liabilities was $ 5 (201 8 – $ 1 ) and is included in other gains/(losses). Financial instruments other than derivat ives Financial instruments have been classified and measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL) . Cash and derivative instruments ha ve been classified as FVTPL and are record ed at fair value with any change in fair value immediately recognized in income (loss). Investments in equity securities are classified and measured at FVTPL . Loans and receivables and financial liabilities are carried at amortized cost. None of the Compa ny’s financial liabilities are classified as FVTPL . Finance costs and discounts associated with the issuance of debt securities are netted against the related debt instrument and amortized to income using the effective interest rate method. Accordingly , long-term debt accretes over time to the principal amount that will be owing at maturity. Derivative financial instruments and hedging activities The Company uses derivative financial instruments, such as foreign currency forward purchase contracts, t o manage risks from fluctuations in foreign exchange rates. All derivative financial instruments are recorded at fair value in the statement of financial position. Where permissible, the Company accounts for these financial instruments as hedges which ensu res that counterbalancing gains and losses are recognized in income in the same period. With hedge accounting, changes in the fair value of derivative financial instruments designated as cash flow hedges are recorded in other comprehensive income (loss) un til the variability of cash flows relating to the hedged asset or liability is recognized in income (loss). When an anticipated transaction is subsequently recorded as a non-financial asset, the amounts recognized in other comprehensive income (loss) are r eclassified to the initial carrying amount of the related asset. Where hedge accounting is not permissible or derivatives are not designated in a hedging relationship, they are classified as held-for-trading and the changes in fair value are immediately re cognized in income (loss). Instruments that have been entered into by the Company to hedge exposure to foreign currency risk are reviewed on a regular basis to ensure the hedges are still effective and that hedge accounting continues to be appropriate. Fair value measurements Fair value estimates are made at a specific point in time, based on relevant market information and information about the underlying asset or liability . These estimates are subjective in nature and involve uncertainties and matters of significant judgement and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value hierarchy is bas ed on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from ind ependent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels: Level 1 Inputs are quoted prices in active markets for identical ass ets or liabilities. Level 2 Inputs for the asset or liability are based on observable market data, either directly or indirectly, other than quoted prices. Level 3 Inputs for the asset or liability are not based on observable market data. The Company determines whether transfers have occurred between levels in the fair value hierarchy by assessing the impact of events and changes in circumstances that could result in a transfer at the end of each reporting period. Employee benefits The Company accrues its obligations under its employee benefit plans, net of plan assets. The cost of pensions and other retirement benefits earned by certain employees is actuarially determined using the projected benefit method pro-rated on service and management’s best estimate of salary escalation and retirement ages of employees. Past service costs from plan initiation and amendments are recognized immediately in the income statement. Remeasurements include actuarial gains or losses and the return on plan assets (excluding interest income). Actuarial gains and losses occur because assumptions about benefit plans relate to a long time frame and differ from actual experiences. These assumptions are revised based on actual experience of the plans such as changes in discount rates, expected retirement ages and projected salary increases. Remeasurements are recognized in other comprehensive income (loss) on an annual basis, at a minimum, and on an interim basis when there are significant changes in assumptions. Aug ust 31 is the measurement date for the Company’s employee benefit plans. The last actuarial valuations for funding purposes for the various plans were performed effective August 31, 201 9 and the next actuarial valuations for funding purposes are effective August 31, 20 20 . Share-based compensation The Company has a stock option plan for directors, officers, employees and consultants to the Company. The strike price of options to purchase shares must be issued at not less than the fair value at the date of g rant. Any consid |
Asset Disposition And Asset Hel
Asset Disposition And Asset Held For Sale | 12 Months Ended |
Aug. 31, 2019 | |
Asset Disposition And Asset Held For Sale [Abstract] | |
Asset Disposition And Asset Held For Sale | 3. ASSET DISPOSITION AND ASSET HELD FOR SALE Shaw Tracking In the third quarter of fiscal 2017, the Company entered into an agreement to sell a group of assets comprising the operations of Shaw Tracking, a fleet tracking operation reported within the Company’s Wireline segment, for proceeds of approximately US $ 20 million, net of working capital adjustments. Accordingly, the operating results and operating cash flows of the Tracking business are presented as discontinued operations separate from the Company’s continuing operations. The transaction closed on Septe mber 15, 2017 and the Company recognized a loss on the divestiture within income from discontinued operations as follows : August 31, 2018 Proceeds on disposal, net of transaction costs of $nil 18 Net assets disposed (22) (4) Income taxes 2 Loss on divestiture, net of tax (6) The assets and liabilities disposed of were as follows: $ Accounts receivable 6 Inventories 5 Other current assets 1 Other long-term assets 25 Goodwill 24 61 Accounts payable and accrued liabilities 8 Deferred credits 33 Deferred income tax liabilities (2) 22 Results of Discontinued Operations A reconciliation of the major classes of line items constituting income from discontinued operations, net of tax, as presented in the consolidated statements of income is as follows: August 31, 2018 Revenue 1 Operating, general and administrative expenses - Purchases of goods and services 1 1 Income from discontinued operations before loss on divestiture - Loss on divestiture, net of tax (6) Loss from discontinued operations, net of tax (6) |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Aug. 31, 2019 | |
Accounts Receivable [Abstract] | |
Accounts Receivable | 4. ACCOUNTS RECEIVABLE 2018 2019 (restated, note 2) $ $ Subscriber and trade receivables 370 305 Due from related parties (note 29) – – Miscellaneous receivables 15 7 385 312 Less allowance for doubtful accounts (98) (59) 287 253 Included in operating, general and administrative expenses is a provision for doubtful accounts of $40 (2018 - $38). |
Inventories
Inventories | 12 Months Ended |
Aug. 31, 2019 | |
Inventories [Abstract] | |
Inventories | 5. INVENTORIES 2018 2019 (restated, note 2) $ $ Wireless devices and accessories 53 40 DTH subscriber equipment 33 21 86 61 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Aug. 31, 2019 | |
Other Current Assets [Abstract] | |
Other Current Assets | 6. OTHER CURRENT ASSETS 2018 2019 (restated, note 2) $ $ Prepaid expenses 108 104 Costs incurred to obtain or fulfill a contract with a customer 59 48 Wireless handset receivables 124 121 291 273 |
Investments And Other Assets
Investments And Other Assets | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of Investments and Other Assets [Abstract] | |
Investments And Other Assets | 7. INVESTMENTS AND OTHER ASSETS 2019 2018 $ $ Publicly traded companies - 615 Investments in private entities 37 45 37 660 The Company has a portfolio of minor investments in various private entities. In the third quarter of fiscal 2019, the Company disposed of one of these investment s with a book value of $ 10 for proceeds of $ 25 . Corus Entertainment Inc. Corus is a leading media and content company that creates and delivers high quality brands and content across platforms for audiences around the world. Corus ’ portfolio of multimedia offerings encompasses 35 specialty television services, 39 radio stations , 15 conventional television stations, a global content business, digital assets, live events, children’s book publishing, animation software, technology and media services. Corus is headquartered in Canada, and its stock is listed on the TSX under the sym bol CJR.B. In connection with the sale of the Media division to Corus in 2016, the Company received 71,364,853 Corus Class B non-voting participating shares (the “Corus B Consideration Shares”) representing approximately 37 % of Corus’ total issued equity of Class A and Class B shares. Although the Class B Corus shares did not have voting rights, the Company was considered to have significant influence due to Board representation. The Company agreed to retain approximately one third of its Corus B Consider ation Shares for 12 months post-closing, a second one third for 18 months post-closing, and the final one third for 24 months post-closing, until March 31, 2018. On May 31, 2019, the Company sold all of its 80,630,383 Class B non-voting participating sha res of Corus at a price of $ 6.80 per share. Proceeds, net of transaction costs were $ 526 , which resulted in a loss of $ 109 . The Company’s weighted average ownership of Corus for the nine months ended May 31, 2019 was 38 % (2018 – 39 %). For the year ended Au gust 31, 2019, the Company received dividends of $ 10 (2018 - $ 92 ) from Corus. At August 31, 2019, the Company owned nil (2018 – 80,630,383 ) Corus Class B shares having a fair value of $ nil (2018 - $ 298 ) and representing nil % (2018 – 38 %) of the total issue d equity of Corus. Summary financial information for Corus through the disposal date is as follows: Nine months ended Year ended May 31, 2019 August 31, 2018 Revenue 1,310 1,647 Net income (loss) attributable to: Shareholders 133 (784) Non-controlling interest 19 26 152 (758) Other comprehensive income, attributable to shareholders (40) 25 Comprehensive income (loss) 112 (733) Equity income from associates, excluding goodwill impairment 46 84 Impairment of investment in associate (1) – (284) Equity income (loss) from associates (2) 46 (200) Other comprehensive income from equity accounted associates (2) (13) 10 33 (190) (1) The Company assessed its investment in Corus for indicators of impairment, which included a significant and sustained decrease in the share price as well as the recording by Corus of an impairment charge against their goodwill and broadcast license intangibles, and found that there was evidence that impairment had occurred. The Company compared the recoverable amount to the carrying value and determined that an impairment charge of $284 was required. The recoverable amount was determined based on the value in use of the investment. (2) The Company’s share of income and other comprehensive income reflect the weighted average proportion of Corus net income and other comprehensive income attributable to shareholders for the nine-month period ended May 31, 2019 and year ended August 31, 2018. Carrying amount at August 31, 2018 615 Share of equity at disposition date 46 Share of other comprehensive loss of associate (13) Dividends received to disposition date (10) Carrying value at disposition date 638 Proceeds on disposal, net of transaction costs 526 Reclassification of accumulated gain from other comprehensive income related to the sale of an associate (3) Loss on sale of investment 109 |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, Plant And Equipment | 8. PROPERTY, PLANT AND EQUIPMENT August 31, 2019 August 31, 2018 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value $ $ $ $ $ $ Cable and telecommunications distribution system 6,876 3,456 3,420 6,506 3,142 3,364 Digital cable terminals and modems 980 612 368 927 541 386 Satellite audio, video and data network and DTH receiving equipment 116 56 60 111 46 65 Land and buildings 640 265 375 641 238 403 Data centre infrastructure, data processing and other 597 398 199 679 410 269 Assets under construction 461 – 461 215 – 215 9,670 4,787 4,883 9,079 4,377 4,702 Changes in the net carrying amounts of property, plant and equipment for 2019 and 2018 are summarized as follows: August 31, August 31, 2018 2019 Net book value Additions Transfers Amortization Disposals and writedown Divestment Net book value $ $ $ $ $ $ $ Cable and telecommunications distribution system 3,364 306 295 (540) (1) (4) 3,420 Digital cable terminals and modems 386 218 – (236) – – 368 Satellite audio, video and data network and DTH receiving equipment 65 11 – (16) – – 60 Land and buildings 403 2 4 (30) (4) – 375 Data centre infrastructure, data processing and other 269 9 18 (50) (17) (30) 199 Assets under construction 215 563 (317) – – – 461 4,702 1,109 – (872) (22) (34) 4,883 August 31, August 31, 2017 2018 Net book value Additions Transfers Amortization Disposals and writedown Divestment Net book value $ $ $ $ $ $ $ Cable and telecommunications distribution system 3,112 578 208 (524) (10) – 3,364 Digital cable terminals and modems 408 246 – (268) – – 386 Satellite audio, video and data network and DTH receiving equipment 60 19 – (14) – – 65 Land and buildings 428 4 – (29) – – 403 Data centre infrastructure, data processing and other 285 27 11 (54) – – 269 Assets under construction 101 333 (219) – – – 215 4,394 1,207 – (889) (10) – 4,702 In 2019, the Company recognized a gain of $43 (2018 – gain of $1) on the disposal of property, plant and equipment. |
Other Long-Term Assets
Other Long-Term Assets | 12 Months Ended |
Aug. 31, 2019 | |
Other Long Term Assets [Abstract] | |
Other Long-Term Assets | 9. OTHER LONG-TERM ASSETS 2018 2019 (restated, note 2) $ $ Equipment costs subject to a deferred revenue arrangement 93 121 Long-term Wireless handset receivables 45 27 Costs incurred to obtain or fulfill a contract with a customer 35 26 Credit facility arrangement fees 4 4 Other 18 19 195 197 Amortization provided in the accounts for 2019 amounted to $88 (2018 - $112) and was recorded as amortization of deferred equipment costs and other amortization. |
Intangibles And Goodwill
Intangibles And Goodwill | 12 Months Ended |
Aug. 31, 2019 | |
Intangibles And Goodwill [Abstract] | |
Intangibles And Goodwill | 10. INTANGIBLES AND GOODWILL 2019 2018 $ $ Broadcast rights and licences Cable systems 4,016 4,016 DTH and satellite services 1,013 1,013 5,029 5,029 Wireless spectrum licences 2,445 1,953 Other intangibles Software 451 434 Customer relationships 54 66 7,979 7,482 Goodwill Cable and telecommunications systems 79 79 Wireless 201 201 280 280 Net book value 8,259 7,762 Broadcast rights and licences, trademark, brands and wireless spectrum licences have been assessed as having indefinite useful lives. While licences must be renewed from time to time, the Company has never failed to do so. In addition, there are currently no legal, regulatory, competitive or other factors that limit the useful lives of these assets. The changes in the carrying amount of intangibles with indefinite useful lives, and therefore not subject to amortization, are as follows: Broadcast rights and licences Goodwill Wireless spectrum licences $ $ $ September 1, 2017 5,029 280 1,947 Additions – – 25 Disposition – – (19) August 31, 2018 5,029 280 1,953 Additions – – 492 Disposition – – – August 31, 2019 5,029 280 2,445 Intangibles subject to amortization are as follows: August 31, 2019 August 31, 2018 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 697 257 440 595 183 412 Software under construction 11 – 11 22 – 22 Customer relationships 114 60 54 114 48 66 822 317 505 731 231 500 The changes in the carrying amount of intangibles subject to amortization are as follows: Software Software under construction Customer relationships Total $ $ $ $ September 1, 2017 377 3 79 459 Additions 121 17 – 138 Transfers (2) 2 – – Amortization (84) – (13) (97) August 31, 2018 412 22 66 500 Additions 112 11 – 123 Transfers 22 (22) – – Dispositions (6) – – (6) Amortization (100) – (12) (112) August 31, 2019 440 11 54 505 Impairment testing of indefinite-life intangibles and goodwill The Company conducted its annual impairment test on goodwill and indefinite-life intangibles as at February 1, 201 9 and the recoverable amount of the cash generating units exceeded their carrying value. A hypothetical decline of 10 % in the recoverable amount of the Cable cash generating unit as at February 1, 201 9 would not result in any impairment loss. A hypothetica l decline of 10 % in the recoverable amount of the Satellite cash generating unit as at February 1, 201 9 would not result in an impairment loss. The Wireless cash generating unit was created with the acquisition of Freedom on March 1, 2016. A hypothetical d ecline of 10 % in the recoverable amount of the Wireless generating unit as at February 1, 201 9 would not result in any impairment loss. Any changes in economic conditions since the impairment testing conducted as at February 1, 201 9 do not represent even ts or changes in circumstance that would be indicative of impairment at August 31, 201 9 . Significant estimates inherent to this analysis include discount rates and the terminal value. At February 1, 201 9 , the estimates that have been utilized in the impai rment tests reflect any changes in market conditions and are as follows: Terminal value Post-tax discount rate Terminal growth rate Terminal operating income before restructuring costs and amortization multiple Cable 6.5% 1.5% 7.4X Satellite 7.5% -3.0% 5.4X Wireless 9.3% 1.0% 4.5X A sensitivity analysis of significant estimates is conducted as part of every impairment test. With respect to the impairment tests performed in the second quarter, the estimated decline in recoverable amount for the sensitivity of significant estimates is as follows: Estimated decline in recoverable amount Terminal value 1% increase in discount rate 1% decrease in terminal growth rate 0.5 times decrease in terminal operating income before restructuring costs and amortization multiple Cable 16.4% 14.2% 4.8% Satellite 8.1% 5.6% 5.6% Wireless 15.2% 7.7% 8.0% |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Aug. 31, 2019 | |
Short-Term Borrowings [Abstract] | |
Short-Term Borrowings | 11. SHORT-TERM BORROWINGS On June 19, 2018 the Company established an accounts receivable securitization program with a Canadian financial institution which will allow it to sell certain trade receivables into the program up to a maximum of $ 100 . The Company continues to service an d retain substantially all of the risks and rewards relating to the trade receivables sold, and therefore, the trade receivables are recognized on the Company’s Consolidated Statement of Financial Position and the funding received is recorded as a current liability (revolving floating rate loans) secured by the trade receivables. The buyer’s interest in the accounts receivable ranks ahead of the Company’s interest and the program restricts it from using the trade receivables as collateral for any other purp ose. The buyer of the trade receivables has no claim on any of the Company’s other assets. Sale proceeds in respect of the new securitization program of approximately $ 40 were received on June 19, 2018. The term of this revolving-period agreement was to en d on June 19, 2019. On May 29, 2019, the Company amended the terms of its accounts receivable securitization program to extend the term of the program to May 29, 2022 and increase the sales committed up to a maximum of $ 200 . Under the terms of the amendm ent, the Company was also required to draw an additional $ 40 under the program by November 1, 2019. Accordingly, subsequent to year-end on November 1, 2019 the Company increased the amount drawn by $ 80 to bring the total short-term borrowings from the buyer to $ 120 . A summary of our accounts receivable sec uritization program as at August 31 is as follows: 2019 2018 $ $ Trade accounts receivable sold to buyer as security 434 429 Short-term borrowings from buyer (40) (40) Overcollateralization 394 389 2019 2018 $ $ Accounts receivable securitization program, beginning of period 40 – Proceeds received from accounts receivable securitization – 40 Repayment of accounts receivable securitization – – Accounts receivable securitization program, end of period 40 40 |
Accounts Payable And Accrued Li
Accounts Payable And Accrued Liabilities | 12 Months Ended |
Aug. 31, 2019 | |
Accounts Payable And Accrued Liabilities [Abstract] | |
Accounts Payable And Accrued Liabilities | 12. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 2018 2019 (restated, note 2) $ $ Trade 114 97 Program rights 5 8 Accrued liabilities 482 496 Accrued network fees 155 125 Interest and dividends 244 227 Related parties (note 29) 15 17 1,015 970 |
Provisions
Provisions | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of other provisions [abstract] | |
Provisions | 13. PROVISIONS Asset retirement obligations Restructuring (1)(2) Other Total September 1, 2017 60 7 76 143 Additions 6 446 25 477 Accretion 1 – – 1 Reversal – – (13) (13) Payments – (177) (7) (184) August 31, 2018 67 276 81 424 Additions 10 1 28 39 Accretion 1 – – 1 Reversal (3) – (10) – (10) Payments – (124) (27) (151) August 31, 2019 78 143 82 303 Current – 166 79 245 Long-term 67 110 2 179 August 31, 2018 67 276 81 424 Current – 142 82 224 Long-term 78 1 – 79 August 31, 2019 78 143 82 303 (1) During 2017, the Company restructured certain operations within the Wireline segment and announced a realignment to integrate certain Consumer/Business operations and Freedom Mobile. In fiscal 2019, a total of $3 has been paid (2018 - $5). (2) During the second quarter of fiscal 2018, the Company offered a voluntary departure program to a group of eligible employees and in the second half of 2018 additional changes to its organizational structure as part of a total business transformation initiative. In connection with the restructuring, the Company recorded $446 in 2018 primarily related to severance and employee related costs in respect of the approximate 3,300 affected employees. In fiscal 2019, a total of $121 has been paid (2018 - $172). The remaining costs are expected to be paid within the next 17 months. (3) During the year, certain employees and the Company agreed to rescind earlier elections under the voluntary departure program. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Aug. 31, 2019 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | 14. LONG-TERM DEBT 2019 2018 Effective interest rates Long-term debt at amortized cost (1) Adjustment for finance costs (1) Long-term debt repayable at maturity Long-term debt at amortized cost (1) Adjustment for finance costs (1) Long-term debt repayable at maturity % $ $ $ $ $ $ Corporate Cdn fixed rate senior notes- 5.65% due October 1, 2019 5.69 1,250 - 1,250 1,248 2 1,250 5.50% due December 7, 2020 5.55 499 1 500 499 1 500 3.15% due February 19, 2021 3.17 299 1 300 299 1 300 3.80% due November 2, 2023 3.80 498 2 500 - - - 4.35% due January 31, 2024 4.35 498 2 500 498 2 500 3.80% due March 1, 2027 3.84 298 2 300 298 2 300 4.40% due November 2, 2028 4.40 496 4 500 - - - 6.75% due November 9, 2039 6.89 1,420 30 1,450 1,419 31 1,450 5,258 42 5,300 4,261 39 4,300 Other Burrard Landing Lot 2 Holdings Partnership Various 50 - 50 50 - 50 Total consolidated debt 5,308 42 5,350 4,311 39 4,350 Less current portion 1,251 1 1,252 1 - 1 4,057 41 4,098 4,310 39 4,349 (1) Long-term debt is presented net of unamortized discounts and finance costs. Corporate Bank loans During 2012, a syndicate of banks provided the Company with an unsecured $ 1 billion credit facility which includes a maximum revolving term or swingline facility of $ 50 . During 2016, the Company elected to increase its borrowing capacity by $ 500 under the terms of the amended facility. On November 21, 2018, the Company amended the terms of its bank credit facility to extend the maturity date to December 2023. Subsequent to year-end, on November 21 , 2019, the Company further extended the term from December 2023 to December 2024. This credit facility can be used for working capital and general corporate purposes. Funds are av ailable to the Company in both Canadian and US dollars. At August 31, 2019, $ 3 (2018 – $ 2 ) has been drawn as committed letters of credit against the revolving term facility. Interest rates fluctuate with Canadian prime and bankers’ acceptance rates, US ban k base rates and LIBOR rates. Excluding the revolving term facility, the effective interest rate on actual borrowings under the credit facility during 2019 was nil (2018 – nil ). The effective interest rate on the revolving term facility for 2019 was nil (2 018 – nil ). Senior notes The senior notes are unsecured obligations and rank equally and ratably with all existing and future senior indebtedness. The fixed rate notes are redeemable at the Company’s option at any time, in whole or in part, prior to matu rity at 100% of the principal amount plus a make-whole premium. On November 2, 2018, the Company issued $ 500 senior notes at a rate of 3.80 % due November 2, 2023 and $ 500 senior notes at a rate of 4.40 % due November 2, 2028. Subsequent to year-end, on Oct ober 1, 2019, the Company repaid $ 1,250 of 5.65 % senior notes at their maturity. Other Burrard Landing Lot 2 Holdings Partnership (the “Partnership”) The Company has a 33.33 % interest in the Partnership which built the Shaw T ower project with office/retail space and living/working space in Vancouver, BC. In the fall of 2004, the commercial construction of the building was completed and at that time, the Partnership issued ten year 6.31 % secured mortgage bonds in respect of the commercial component of the Shaw Tower. In February 2014, the Partnership refinanced its debt. The Partnership received a mortgage loan and used the proceeds to prepay the outstanding balance of the previous mortgage and loan excess funds to each of its partners. The mortgage loan matures on November 1, 2024 and bears interest at 4.683 % compounded semi-annually with interest only payable for the first five years . The mortgage loan is collateralized by the property and the commercial rental income from the building with no recourse to the Company. In February 2018, the Partnership received an additional mortgage loan of $ 30 and used the proceeds to loan excess funds to each of its partners, of which the Company received $ 10 . The additional loan matures on November 1, 2024 and bears interest at 4.14 % compounded semi-annually. Debt covenants The Company and its subsidiaries have undertaken to maintain certain covenants in respect of the credit agreements and trust indentures described above. The Company and its subsidiaries were in compliance with these covenants at August 31, 201 9 . Long-term debt repayments Mandatory principal repayments on all long-term debt in each of the next five years and thereafter are as follows: $ 2020 1,251 2021 801 2022 1 2023 501 2024 501 Thereafter 2,295 5,350 Interest expense 2019 2018 $ $ Interest expense – long-term debt 280 245 Amortization of senior notes discounts 1 1 Interest income – short-term (net) (29) (6) Interest expense – other 6 8 258 248 |
Other Long-Term Liabilities
Other Long-Term Liabilities | 12 Months Ended |
Aug. 31, 2019 | |
Other Long-Term Liabilities [Abstract] | |
Other Long-Term Liabilities | 15. OTHER LONG-TERM LIABILITIES 2019 2018 $ $ Pension liabilities (note 28) 69 10 Post retirement liabilities (note 28) 4 3 Other 2 - 75 13 |
Deferred Credits
Deferred Credits | 12 Months Ended |
Aug. 31, 2019 | |
Deferred Credits [Abstract] | |
Deferred Credits | 16. DEFERRED CREDITS 2018 2019 (restated, note 2) $ $ IRU prepayments 400 411 Equipment revenue 23 29 Deposit on future fibre sale 2 2 425 442 Amortization of deferred credits for 201 9 amounted to $ 34 (201 8 - $ 42 ) and was recorded in the accounts as described below. IRU agreements are in place for periods ranging from 21 to 60 years and are being amortized to income over the agreement periods. Amortization in respect of the IRU agreements for 201 9 amounted to $ 12 (201 8 - $ 13 ) and was recorded as other amortization. Amortization of equipment revenue for 201 9 amounted to $ 2 1 (201 8 - $ 30 ). |
Share Capital
Share Capital | 12 Months Ended |
Aug. 31, 2019 | |
Share Capital [Abstract] | |
Share Capital | 17. SHARE CAPITAL Authorized The Company is authorized to issue a limited number of Class A voting participating shares (“Class A Shares”) of no par value, as described below, and an unlimited number of Class B non-voting participating shares (“Class B Non-Voting Shares”) of no par value, Class 1 preferred shares, Class 2 preferred shares, Class A preferred shares and Class B prefer red shares. The authorized number of Class A Shares is limited, subject to certain exceptions, to the lesser of that number of shares (i) currently issued and outstanding and (ii) that may be outstanding after any conversion of Class A Shares into Class B Non-Voting Shares. Issued and outstanding 2019 2018 2019 2018 Number of securities $ $ 22,372,064 22,420,064 Class A Shares 2 2 494,389,771 484,194,344 Class B Non-Voting Shares 4,310 4,054 10,012,393 10,012,393 Series A Preferred Shares 245 245 1,987,607 1,987,607 Series B Preferred Shares 48 48 528,761,835 518,614,408 4,605 4,349 Class A Shares and Class B Non-Voting Shares Class A Shares are convertible at any time into an equivalent number of Class B Non-Voting Shares. In the event that a take-over bid is made for Class A Shares, in certain circumstances, the Class B Non-Voting Shares are convertible into an equivalent number of Class A Shares. Changes in Class A Share capital and Class B Non-Voting Share capital in 201 9 and 201 8 are as follows: Class A Shares Class B Non-Voting Shares Number $ Number $ September 1, 2017 22,420,064 2 474,350,861 3,795 Stock option exercises - - 1,854,594 48 Dividend reinvestment plan - - 7,988,889 211 August 31, 2018 22,420,064 2 484,194,344 4,054 Stock option exercises - - 1,658,465 39 Dividend reinvestment plan - - 8,488,962 217 Class A conversion to Class B (48,000) - 48,000 - August 31, 2019 22,372,064 2 494,389,771 4,310 Series A and B Preferred Shares The Cumulative Redeemable Rate Reset Preferred Shares, Series A (“Series A Preferred Shares”) and Series B (“Series B Preferred Shares”) represent series of class 2 preferred shares and are classified as equity since redemption, at $ 25.00 per Series A Pref erred Share and Series B Preferred Share, is at the Company’s option and payment of dividends is at the Company’s discretion. Share transfer restriction The Articles of the Company empower the directors to refuse to issue or transfer any share of the Co mpany that would jeopardize or adversely affect the right of Shaw Communications Inc. or any subsidiary to obtain, maintain, amend or renew a licence to operate a broadcasting undertaking pursuant to the Broadcasting Act (Canada). Normal Course Issuer Bid program Subsequent to year-end, on October 29, 2019, the Company announced that it had received approval from the Toronto Stock Exchange (“TSX”) to establish a normal course issuer bid (“NCIB”) program. The program commenced on November 1, 2019 and will remain in effect until October 31, 2020. As approved by the TSX, the Company has the ability to purchase for cancellation up to 24,758,127 Class B Shares representing 5 % of all of the issued and outstanding Class B Shares as at October 18, 2019. As of November 15, 2019, the Company has purchased 483,428 Class B Non-Voting Shares for cancellation for a total cost of approximately $ 13 million under the NCIB. |
Share-Based Compensation And Aw
Share-Based Compensation And Awards | 12 Months Ended |
Aug. 31, 2019 | |
Share-Based Compensation And Awards [Abstract] | |
Share-Based Compensation And Awards | 18. SHARE-BASED COMPENSATION AND AWARDS Stock option plan Under a stock option plan, directors, officers, employees and consultants of the Company are eligible to receive stock options to acquire Class B Non-Voting Shares with terms not to exceed ten years from the date of grant. Options granted up to August 31, 201 9 vest evenly on the anniversary dates from the original grant date at either 25 % per year over four years or 20 % per year over five years. The options must be issued at not less than the fair market value of the Class B Non-Voting Shares at the date of grant. The maximum number of Class B Non-Voting Shares issuable under the plan may not exceed 62,000,000 . As at August 31, 201 9 , 39,229,679 Class B Non-Voting Shares h ave been issued under the plan. The changes in options are as follows: 2019 2018 Weighted average exercise price Weighted average exercise price Number $ Number $ Outstanding, beginning of year 9,378,966 25.18 10,158,005 24.45 Granted 1,540,000 26.36 2,790,000 27.17 Forfeited (897,470) 26.66 (1,714,445) 26.45 Exercised (1) (1,658,465) 20.76 (1,854,594) 23.05 Outstanding, end of year 8,363,031 26.11 9,378,966 25.18 (1) The weighted average Class B Non-Voting Share price for the options exercised was $26.91. The following table summarizes information about the options outstanding at August 31, 2019: Options outstanding Options exerciseable Range of prices Number outstanding Weighted average remaining contractual life Weighted average exercise price Number exercisable Weighted average exercise price $18.79 - $20.80 309,891 1.12 19.59 309,891 19.59 $20.81 - $24.21 1,235,010 5.40 23.49 842,460 23.37 $24.22 - $26.22 1,086,750 6.67 25.18 620,100 25.08 $26.23 - $27.19 2,906,225 8.10 26.43 692,325 26.49 $27.20 - $30.87 2,825,155 7.14 28.01 1,315,205 28.12 The weighted average estimated fair value at the date of the grant for common share options granted for the year ended August 31, 2019 was $2.07 (2018 - $2.11) per option. The fair value of each option granted was estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted-average assumptions: 2019 2018 Dividend yield 4.50% 4.37% Risk-free interest rate 2.08% 1.88% Expected life of options 7 years 6 years Expected volatility factor of the future expected market price of Class B Non-Voting Shares 16.30% 16.30% Expected volatility has been estimated based on the historical share price volatility of the Company’s Class B Non-Voting Shares. Restricted share unit plan and Performance share unit plan The Company has an RSU/PSU plan which provides that RSUs may be granted to directors, officers and employees of the Company and PSUs may be granted to officers and employees of the Company. Vested RSUs and PSUs will be settled in either cash or Class B Non -Voting Shares as determined by the Human Resources and Compensation Committee at the time of the grant. The cash payout will be based on the market value of a Class B Non-Voting Share at the time of the payout. When cash dividends are paid on Class B Non- Voting Shares, holders are credited with additional RSUs or PSUs, as applicable, equal to the dividend. For PSUs, the performance criteria is set by the Human Resources and Compensation Committee at the time of the grant, and typically requires the achie vement of a minimum level of performance, otherwise the payout is zero, while maximum performance is capped at 150%. On settlement of vested PSUs, the number of Class B Non-Voting Shares issued or delivered, or the amount of cash payment will be multiplied by the applicable performance factor. During 201 9 , $ 5 was recognized as compensation expense (201 8 - $ 3 ). The carrying value and intrinsic value of RSUs at August 31, 201 9 was $ 7 and $ 7 , respectively (August 31, 201 8 - $ 3 and $ 3 , respectively). Deferred share unit plan The Company has a DSU plan for its Board of Directors whereby directors can elect to receive their annual cash compensation, or a portion thereof, in DSUs. In addition, the Company may adjust and/or supplement direc tors’ compensation with periodic grants of DSUs. A DSU is a right that tracks the value of one Class B Non-Voting Share. Holders will be entitled to a cash payout when they cease to be a director. The cash payout will be based on market value of a Class B Non-Voting Share at the time of payout. When cash dividends are paid on Class B Non-Voting Shares, holders are credited with DSUs equal to the dividend. DSUs do not have voting rights as there are no shares underlying the plan. During 201 9 , $ nil was recog nized as compensation expense (201 8 - $ 2 ). The carrying value and intrinsic value of DSUs at August 31, 201 9 was $ 24 and $ 20 , respectively (August 31, 201 8 - $ 2 4 and $ 20 , respectively). Employee share purchase plan The Company’s ESPP provides employees wi th an incentive to increase the profitability of the Company and a means to participate in that increased profitability. Generally, all non-unionized full time or part time employees of the Company are eligible to enroll in the ESPP. Under the ESPP, eligib le employees may contribute to a maximum of 5 % of their monthly base compensation. The Company contributes an amount equal to 25 % of the employee’s contributions, increasing to 33 % once an employee reaches 10 years of continuous service. During 201 9 , $ 6 w as recorded as compensation expense (201 8 - $ 7 ). |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 12 Months Ended |
Aug. 31, 2019 | |
Earnings per share [abstract] | |
Earnings (Loss) Per Share | 19. EARNINGS (LOSS) PER SHARE Earnings (loss) per share calculations are as follows: 2018 2019 (restated, note 2) Numerator for basic and diluted earnings per share ($) Net income from continuing operations 733 39 Deduct: net income attributable to non-controlling interests in subsidiaries (2) - Deduct: dividends on Preferred Shares (9) (8) Net income attributable to common shareholders from continuing operations 722 31 Loss from discontinued operations attributable to common shareholders - (6) Net income attributable to common shareholders 722 25 Denominator (millions of shares) Weighted average number of Class A Shares and Class B Non-Voting Shares for basic earnings per share 511 502 Effect of dilutive securities (1) - 1 Weighted average number of Class A Shares and Class B Non-Voting Shares for diluted earnings per share 511 503 Basic earnings (loss) per share ($) Continuing operations 1.41 0.06 Discontinued operations - (0.01) Attributable to common shareholders 1.41 0.05 Diluted earnings (loss) per share ($) Continuing operations 1.41 0.06 Discontinued operations - (0.01) Attributable to common shareholders 1.41 0.05 (1) The earnings per share calculation does not take into consideration the potential dilutive effect of certain stock options since their impact is anti-dilutive. For the year ended August 31, 2019, 6,126,210 options were excluded from the diluted earnings per share calculation (2018 – 4,263,940). |
Dividends
Dividends | 12 Months Ended |
Aug. 31, 2019 | |
Dividends [Abstract] | |
Dividends | 20. DIVIDENDS Common share dividends The holders of Class A Shares and Class B Non-Voting Shares are entitled to receive such dividends as the Board of Directors determines to declare on a share-for-share basis, as and when any such dividends are declared or paid. The holders of Class B Non-Voting Shares are entit led to receive during each dividend period, in priority to the payment of dividends on the Class A Shares, an additional dividend at a rate of $ 0.0025 per share per annum. This additional dividend is subject to proportionate adjustment in the event of futu re consolidations or subdivisions of shares and in the event of any issue of shares by way of stock dividend. After payment or setting aside for payment of the additional non-cumulative dividends on the Class B Non-Voting Shares, holders of Class A Shares and Class B Non-Voting Shares participate equally, share for share, as to all subsequent dividends declared. Preferred share dividends Holders of the Series A Preferred Shares were entitled to receive, as and when declared by the Company’s Board of Direct ors, a cumulative quarterly fixed dividend yielding 4.50 % annually for the initial period ending June 30, 2016. Commencing June 30, 2016, the dividend rate was reset to 2.791 % for the five year period ending June 30, 2021. Thereafter, the dividend rate wil l be reset every five years at a rate equal to the then current 5-year Government of Canada bond yield plus 2.00 %. Holders of Series A Preferred Shares had the right, at their option, to convert their shares into Cumulative Redeemable Floating Rate Prefer red Shares, Series B (the “Series B Preferred Shares”), subject to certain conditions, on June 30, 2016 and on June 30 every five year s thereafter, with the next conversion date being June 30, 2021. On June 30, 2016, 1,987,607 Series A Preferred Shares were converted into an equal number of Series B Preferred Shares. The Series B Preferred Shares also represent a series of Class 2 preferred shares and h olders will be entitled to receive cumulative quarterly dividends, as and when declared by the Company’ s Board of Directors, at a rate set quarterly equal to the then current three-month Government of Canada Treasury Bill yield plus 2.00 %. The floating quarterly dividend rate for the Series B Preferred Shares were set as follows: Period Annual Dividend Rate June 30, 2016 to September 29, 2016 2.539% September 30, 2016 to December 30, 2016 2.512% December 31, 2016 to March 30, 2017 2.509% March 31, 2017 to June 29, 2017 2.480% June 30, 2017 to September 29, 2017 2.529% September 30, 2017 to December 30, 2017 2.742% December 31, 2017 to March 30, 2018 2.872% March 31, 2018 to June 29, 2018 3.171% June 30, 2018 to September 29, 2018 3.300% September 30, 2018 to December 30, 2018 3.509% December 31, 2018 to March 30, 2019 3.713% March 31, 2019 to June 29, 2019 3.682% June 30, 2019 to September 29, 2019 3.687% September 30, 2019 to December 30, 2019 3.638% Dividend reinvestment plan The Company has a Dividend Reinvestment Plan (“DRIP”) that allows holders of Class A Shares and Class B Non-Voting Shares who are residents of Canada and, effective December 16, 2016, the United States, to automatically reinvest monthly cash dividends to acquire additional Class B Non-Voting Shares. As at and for the years ended August 31, 2019 and August 31, 2018, Class B Non-Voting Shares distributed u nder the Company’s DRIP were new shares issued from treasury at a 2 % discount from the 5 day weighted average market price immediately preceding the applicable dividend payment date. Subsequent to year-end, on October 24, 2019, and in accordance with the terms of our Dividend Reinvestment Plan (the “DRIP”), the Company’s Board of Directors approved changes to the Company’s DRIP program. In lieu of issuing shares from treasury, it will satisfy its share delivery obligations under the DRIP by purchasing Cla ss B Shares on the open market. In addition, the Company will reduce its discount from 2% to 0 % for the Class B Shares delivered under the DRIP. These changes to the DRIP will apply to the dividends payable on November 28, 2019 to shareholders of record on November 15, 2019. Dividends declared The dividends per share recognized as distributions to common shareholders for dividends declared during the year ended August 31, 201 9 and 201 8 are as follows: 2019 2018 Class A Voting Share Class B Non-Voting Share Class A Voting Share Class B Non-Voting Share 1.1825 1.1850 1.1825 1.1850 The dividends per share recognized as distributions to preferred shareholders for dividends declared during the year ended August 31, 2018 and 2017 are as follows: 2019 2018 Series A Preferred Share Series B Preferred Share Series A Preferred Share Series B Preferred Share 0.6978 0.9119 0.6978 0.7553 On June 27, 2019, the Company declared dividends of $ 0.17444 per Series A Preferred Share and $ 0.23044 per Series B Preferred Share which were paid on September 30, 2019. The total amount paid was $ 2 of which $ 1 was not recognized as at August 31, 2019. On October 25 , 2019, the Company declared dividends of $ 0.098542 per Class A Voting Share and $ 0.09875 per Class B Non-Voting Share payable on each of December 30 , 2019, January 30 , 2020 and February 27 , 2020 to shareholders of record at the close of business on December 13 , 2019, January 15 , 2020 and February 14 , 2020, respectively. On October 25 , 2019, the Company declared dividends of $ 0.17444 per Series A Preferred Share and $ 0.22738 per Series B Preferred Sh are payable on December 31 , 2019 to holders of record at the close of business on December 13 , 2019. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss | 12 Months Ended |
Aug. 31, 2019 | |
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss [Abstract] | |
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss | 21. OTHER COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE LOSS Components of other comprehensive income and the related income tax effects for 2019 are as follows: Amount Income taxes Net $ $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 3 (1) 2 Adjustment for hedged items recognized in the period (3) 1 (2) Share of other comprehensive income of associates (13) – (13) Reclassification of accumulated loss to income related to the sale of an associate (3) – (3) (16) – (16) Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: (52) 13 (39) (68) 13 (55) Components of other comprehensive income and the related income tax effects for 2018 are as follows: Amount Income taxes Net $ $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 7 (2) 5 Adjustment for hedged items recognized in the period 4 (1) 3 Share of other comprehensive income of associates 10 - 10 21 (3) 18 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans 101 (27) 74 122 (30) 92 Accumulated other comprehensive loss is comprised of the following: 2019 2018 $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 1 - Share of other comprehensive income of associates 18 18 Reclassification of accumulated loss to income related to the sale of an associate (18) - Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: (95) (57) (94) (39) |
Revenue
Revenue | 12 Months Ended |
Aug. 31, 2019 | |
Revenue [Abstract] | |
Revenue | 22 . REVENUE Contract assets and liabilities The table below provides a reconciliat ion of the significant changes to the current and long-term portion of contract assets and liabilities balances during the year . Contract Contract Assets Liabilities September 1, 2017 59 235 Increase in contract assets from revenue recognized during the period 198 - Contract assets transferred to trade receivables (118) - Contract terminations transferred to trade receivables (4) - Revenue recognized included in contract liabilities at the beginning of the year - (225) Increase in contract liabilities during the period - 234 August 31, 2018 135 244 Increase in contract assets from revenue recognized during the period 179 - Contract assets transferred to trade receivables (145) - Contract terminations transferred to trade receivables (11) - Revenue recognized included in contract liabilities at the beginning of the year - (236) Increase in contract liabilities during the period - 230 August 31, 2019 158 238 Contract Contract Assets Liabilities Current 103 226 Long-term 32 18 Balance as at September 1, 2018 135 244 Current 106 223 Long-term 52 15 Balance as at August 31, 2019 158 238 Deferred commission cost assets The table below provides a summary of the changes in the deferred commission cost assets recognized from the incremental costs incurred to obtain contracts with customers during the year ended August 31 , 2019 and 2018. We believe these amounts to be recove rable through the revenue earned from the related contracts. The deferred commission cost assets are presented within other current assets (when they will be amortized into net income within twelve months of the date of the financial statements) or other l ong-term assets. September 1, 2017 57 Additions to deferred commission cost assets 70 Amortization recognized on deferred commission cost assets (52) August 31, 2018 75 Additions to deferred commission cost assets 85 Amortization recognized on deferred commission cost assets (66) August 31, 2019 94 Current 50 Long-term 25 Balance as at September 1, 2018 75 Current 59 Long-term 35 Balance as at August 31, 2019 94 Commission costs are amortized over a period ranging from 24 to 36 months. Disaggregation of revenue 2018 2019 (restated, note 2) $ $ Services Wireline - Consumer 3,707 3,725 Wireline - Business 593 567 Wireless 694 564 4,994 4,856 Equipment and other Wireless 353 337 353 337 Intersegment eliminations (7) (4) Total revenue 5,340 5,189 Remaining performance obligations The following table includes revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as at August 31, 2019 : Within Within 1 year 2 years Total $ $ $ Wireline 2,747 1,211 3,958 Wireless 362 145 507 Total 3,109 1,356 4,465 When estimating minimum transaction prices allocated to the remaining unfilled, or partially unfulfilled, performance obligations, Shaw applied the practical expedient to not disclose information about remaining performance obligations that have original expected duration of one year or less and for those contracts where we bill the same value as that which is transferred to the customer. |
Operating, General And Administ
Operating, General And Administrative Expenses And Restructuring Costs | 12 Months Ended |
Aug. 31, 2019 | |
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |
Operating, General And Administrative Expenses And Restructuring Costs | 2 3 . OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES AND RESTRUCTURING COSTS 2018 2019 (restated, note 2) $ $ Employee salaries and benefits (1) 663 1,158 Purchases of goods and services 2,514 2,420 3,177 3,578 (1) For the year ended August 31, 2019, employee salaries and benefits include a recovery of $9 in employee-related restructuring costs compared to $423 in restructuring costs for the year ended August 31, 2018. |
Other Gains (Losses)
Other Gains (Losses) | 12 Months Ended |
Aug. 31, 2019 | |
Other Gains (Losses) [Abstract] | |
Other Gains (Losses) | 2 4 . OTHER GAINS (LOSSES) 2018 2019 (restated, note 2) $ $ Gain on disposal of fixed assets and intangibles 32 15 Gain on disposal of non-core business 6 - Gain on disposal of investment 15 - Other (1) (3) 17 50 32 (1) Other gains (losses) generally includes realized and unrealized foreign exchange gains and losses on US dollar denominated current assets and liabilities and the Company’s share of the operations of Burrard Landing Lot 2 Holdings Partnership. |
Income Taxes
Income Taxes | 12 Months Ended |
Aug. 31, 2019 | |
Income Taxes [Abstract] | |
Income Taxes | 2 5 . INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company’s net deferred tax liability consists of the following: 2018 2019 (restated, note 2) $ $ Deferred tax assets 4 4 Deferred tax liabilities (1,875) (1,884) Net deferred tax liability (1,871) (1,880) Significant changes recognized to deferred income tax assets (liabilities) are as follows: Property, plant and equipment and software assets Broadcast rights, licences, customer relationships, trademark and brands Partnership income Non- capital loss carry- forwards Accrued charges Total $ $ $ $ $ $ Balance at September 1, 2017 (restated, note 2) (265) (1,680) 39 51 (4) (1,859) Recognized in statement of income (22) (53) (10) 17 77 9 Recognized in other comprehensive income - - - - (30) (30) Balance at August 31, 2018 (287) (1,733) 29 68 43 (1,880) Recognized in statement of income (12) 107 (61) 25 (63) (4) Recognized in other comprehensive income - - - - 13 13 Balance at August 31, 2019 (299) (1,626) (32) 93 (7) (1,871) The Company has capital loss carryforwards of approximately $ 44 for which no deferred income tax asset has been recognized in the accou nts. These capital losses can be carried forward indefinitely. The Company has non-capital loss carryforwards of approximately $ 446 for which no deferred income tax asset has been recognized in the accounts. The balance expires in varying annual amoun ts from 2034 to 203 6 . The Company has taxable temporary differences associated with its investment in its subsidiaries. No deferred tax liabilities have been provided with respect to such temporary differences as the Company is able to control the timing of the reversal and such reversal is not probable in the foreseeable future. The income tax expense differs from the amount computed by applying the statutory rates to income before income taxes for the following reasons: 2018 2019 (restated, note 2) Current statutory income tax rate 26.8% 26.9% Income tax expense at current statutory rates 228 45 Net increase (decrease) in taxes resulting from: Effect of tax rate changes (102) 28 Equity (income) loss of an associate not recognized (12) 54 Other 4 1 Income tax expense 118 128 The statutory income tax rate for the Company decreased from 26. 9 % in 2018 to 26.8 % in 2019 as a result of provincial tax rate changes . The components of income tax expense are as follows: 2018 2019 (restated, note 2) $ $ Current income tax expense 114 137 Deferred tax expense (recovery) related to temporary differences 106 (37) Deferred tax expense (recovery) from tax rate changes (102) 28 Income tax expense 118 128 |
Business Segment Information
Business Segment Information | 12 Months Ended |
Aug. 31, 2019 | |
Business Segment Information [Abstract] | |
Business Segment Information | 2 6 . BUSINESS SEGMENT INFORMATION The Company’s chief operating decision makers are the C hief Executive Officer , President and Executive Vice President, C hief Financial & Corporate Development Officer and they review the operating performance of the Company by segments, which are comprise d of Wireline and Wireless. As a result of the restructuring undertaken in 2017, the Company reorganized and integrated its management structure, previously separated in the Consumer and Business Network Services segments, into a combined Wireline segment, as costs were becoming increasingly inseparable between these segments. There was no change to the Wireless operating segment. The accounting policies of the segme nts are the same as those described in the summary of significant accounting policies. The chief operating decision makers utilize operating income before restructuring costs and amortization for each segment as a key measure in making operating decisions and assessing performance. The Wireline segment provides Cable telecommunications services including Video, Internet, Wi-Fi, Phone, Satellite Video and data networking through a national fibre-optic backbone network to Canadian consumers, North America n businesses and public-sector entities. The Wireless segment provides wireless services for voice and data communications serving customers in Ontario, British Columbia and Alberta. Both of the Company’s reportable segments are substantially located in Canada. Information on operations by segment is as follows: 2018 2019 (restated, note 2) $ $ Revenue Wireline 4,300 4,292 Wireless 1,047 901 5,347 5,193 Intersegment eliminations (7) (4) 5,340 5,189 Operating income before restructuring costs and amortization Wireline 1,955 1,915 Wireless 199 142 2,154 2,057 Restructuring costs (1) 9 (446) Amortization (1) (1,038) (1,025) Operating income 1,125 586 Interest (1) Operating 256 247 Other/non-operating 2 1 258 248 Current taxes (1) Operating 114 166 Other/non-operating - (29) 114 137 (1) The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. Capital expenditures 2018 2019 (restated, note 2) $ $ Capital expenditures accrual basis Wireline 784 965 Wireless 385 343 1,169 1,308 Equipment costs (net of revenue) Wireline 43 53 Capital expenditures and equipment costs (net) Wireline 827 1,018 Wireless 385 343 1,212 1,361 Reconciliation to Consolidated Statements of Cash Flows Additions to property, plant and equipment 1,109 1,121 Additions to equipment costs (net) 42 49 Additions to other intangibles 147 131 Total of capital expenditures and equipment costs (net) per Consolidated Statements of Cash Flows 1,298 1,301 Increase (decrease) in working capital and other liabilities related to capital expenditures (28) 65 Decrease in customer equipment financing receivables 1 4 Less: Proceeds on disposal of property, plant and equipment (59) (9) Total capital expenditures and equipment costs (net) reported by segments 1,212 1,361 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Aug. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 2 7 . COMMITMENTS AND CONTINGENCIES Commitments (i) The Company has various long-term operating commitments as follows: $ 2020 681 2021 - 2024 859 Thereafter 362 1,902 Comprised of: $ Lease of transmission facilities and premises 474 Lease and maintenance of transponders 445 Purchase obligations 983 1,902 (ii) The Company owns and leases Ku-band and C-band transponders on the Anik F1R, Anik F2 and Anik G1 satellites. As part of the Ku-band transponder agreements with Telesat Canada, the Company is committed to paying annual transponder maintenance and licence fees for each transponder from the time the satellite becomes operational for a period of 15 years. Included in operating, general and administrative expenses are trans ponder maintenance expenses of $ 84 (201 8 - $ 84 ) and rental expenses of $ 164 (201 8 - $ 1 53 ). (iii) At August 31, 201 9 , the Company had capital expenditure commitments in the normal course of business of $ 181 in respect of fiscal 20 20 to 2025 . Contingencie s The Company and its subsidiaries are involved in litigation matters arising in the ordinary course and conduct of its business. Although resolution of such matters cannot be predicted with certainty, management does not consider the Company’s exposure to litigation to be material to these consolidated financial statements. Guarantees In the normal course of business the Company enters into indemnification agreements and has issued irrevocable standby letters of credit and commercial surety bonds with and to third parties. Indemnities Many agreements related to acquisitions and dispositions of business assets include indemnification provisions where the Company may be required to make payment to a vendor or purchaser for breach of contractual terms of the agreement with respect to matters such as litigation, income taxes payable or refundable or other ongoing disputes. The indemnification period usually covers a period of two to four years. Also, in the normal course of business, the Company has provid ed indemnifications in various commercial agreements, customary for the telecommunications industry, which may require payment by the Company for breach of contractual terms of the agreement. Counterparties to these agreements provide the Company with comp arable indemnifications. The indemnification period generally covers, at maximum, the period of the applicable agreement plus the applicable limitations period under law. The maximum potential amount of future payments that the Company would be required to make under these indemnification agreements is not reasonably quantifiable as certain indemnifications are not subject to limitation. However, the Company enters into indemnification agreements only when an assessment of the business circumstances woul d indicate that the risk of loss is remote. At August 31, 201 9 , management believes it is remote that the indemnification provisions would require any material cash payment. The Company indemnifies its directors and officers against any and all claims o r losses reasonably incurred in the performance of their service to the Company to the extent permitted by law. Irrevocable standby letters of credit and commercial surety bonds The Company and certain of its subsidiaries have granted irrevocable standby letters of credit and commercial surety bonds, issued by high rated financial institutions, to third parties to indemnify them in the event the Company does not perform its contractual obligations. As of August 31, 201 9 , the guarantee instruments amounted to $ 6 . The Company has not recorded any additional liability with respect to these guarantees, as the Company does not expect to make any payments in excess of what is recorded on the Company’s consolidated financial statements. The guarantee instruments m ature at various dates during fiscal 20 20 to fiscal 202 2 . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Aug. 31, 2019 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | 2 8 . EMPLOYEE BENEFIT PLANS Defined contribution pension plans The Company has defined contribution pension plans for its non-union employees and, for the majority of these employees, contributes 5 % of eligible earnings to the maximum amount deductible under the Income Tax Act. Effective January 1, 2019, the Company i ntroduced a voluntary pension contribution matching program whereby, in addition to the 5% of Company contributions, employees who make voluntary contributions will receive a 25 % match on contributions up to 5% of their eligible earnings. For union employe es, the Company contributes amounts up to 9.8 % of earnings to the individuals’ registered retirement savings plans. Total pension costs in respect of these plans were $ 31 (201 8 - $ 3 2 ) of which $ 23 (201 8 - $ 2 1 ) was expensed and the remainder capitalized. Defined benefit pension plans The Company has two non-registered retirement plans for designated executives and senior executives. The following is a summary of the accrued benefit liabilities recognized in the statement of financial position. 2019 2018 Non-registered plans Accrued benefit obligation 505 446 Fair value of plan assets 436 436 Accrued benefit liabilities and deficit 69 10 The plans expose the Company to a number of risks, of which the most significant are as follows: (i) Volatility in market conditions: The accrued benefit obligations are calculated using discount rates with reference to bond yields closely matching the term of the estimated cash flows while many of the assets are invested in other types of assets. If plan assets underperform these yields, this will result in a deficiency . Changing market conditions in conjunction with discount rate volatility will result in volatility of the accrued benefit liabilities. To mitigate some of the investment risk, the Compan y has established long-term funding targets where the time horizon and risk tolerance are specified. (ii) Selection of accounting assumptions: The calculation of the accrued benefit obligati ons involves projecting future cash flows of the plans over a lon g time frame. This means that assumptions used can have a material impact on the statements of financial position and comprehensive income because in practice, future experience of the plans may not be in line with the selected assumptions. Non-register ed pension plans The Company provides a supplemental executive retirement plan (“SERP”) for certain of its senior executives. Benefits under this plan are based on the employees’ length of service and their highest three-year average rate of eligible pensi onable earnings during their years of service. In 2012, the Company closed the plan to new participants and amended the plan to freeze base salary levels at August 31, 2012 for purposes of determining eligible pensionable earnings. Employees are not requir ed to contribute to this plan. The Company provides an executive retirement plan (“ERP”) for certain executives not covered by the SERP. Benefits under this plan are comprised of defined contribution and defined benefit components and are based on the e mployees’ length of service as well as final average earnings during their years of service. Employees are not required to contribute to this plan. The table below shows the change in benefit obligation and funding status and the fair value of plan asset s. 2019 2018 SERP ERP Total SERP ERP Total $ $ $ $ $ $ Accrued benefit obligation, beginning of year 429 17 446 518 14 532 Current service cost 5 6 11 6 8 14 Interest cost 16 1 17 17 1 18 Payment of benefits to employees (17) (1) (18) (18) (7) (25) Transfer from DC plan - 1 1 - 3 3 Remeasurements: Effect of changes in demographic assumptions (4) - (4) (5) - (5) Effect of changes in financial assumptions 53 3 56 - - - Effect of experience adjustments (1) (4) - (4) (89) (2) (91) Accrued benefit obligation, end of year 478 27 505 429 17 446 Fair value of plan assets, beginning of year 421 15 436 420 13 433 Employer contributions - 5 5 - 5 5 Interest income 15 1 16 15 1 16 Transfer from DC plan - 1 1 - 3 3 Payment of benefits (17) (2) (19) (18) (7) (25) Return on plan assets, excluding interest income (2) (1) (3) 4 - 4 Fair value of plan assets, end of year 417 19 436 421 15 436 Accrued benefit liability and plan deficit, end of year 61 8 69 8 2 10 (1 ) In the second quarter of fiscal 2018, a remeasurement related to the effect of experience adjustments of $ 85 was recognized to reflect the decrease in the accrued benefit obligation due to demographic experience in the quarter. The weighted aver age duration of the defined benefit obligation of the SERP and ERP at August 31, 201 9 is 17.2 years and 20.0 years, re spe ctively. The underlying plan assets of the SERP and ERP at August 31, 201 9 are invested in the following: SERP ERP Cash and cash equivalents 206 14 Fixed income securities 72 2 Equity securities – Canadian 43 1 Equity securities – Foreign 96 2 417 19 All fixed income and equity securities have a quoted price in active market. The tables below show the significant weighted-average assumptions used to measure the pension obligation and cost for the plans. 2019 2019 2018 2018 SERP ERP SERP ERP Accrued benefit obligation % % % % Discount rate 2.90 2.90 3.70 3.70 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 2019 2019 2018 2018 SERP ERP SERP ERP Benefit cost for the year % % % % Discount rate 3.70 3.70 3.70 3.70 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 (1) Applies only to incentive compensation component of eligible pensionable earnings. The calculation of the accrued benefit obligation is sensitive to the assumptions above. A one percentage point decrease in the discount rate would have increased the accrued benefit obligation at August 31, 201 9 by $ 8 8 . A one percentage point increase in the rate of compensation increase would have increased the accrued benefit obli gation by $ 14 . When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the present value of the defined benefit obligation ha s been calculated using the projected benefit method which is the same method that is applied in calculating the defined benefit liability recognized in the statement of financial position. The sensitivity analysis presented above may not be representative of the actual change in the accrued benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some assumptions may be correlated. The net pension benefit plan expense, which is included in employee s alaries and benefits expense, is comprised of the following components: 2019 2018 SERP ERP Total SERP ERP Total Current service cost 5 6 11 6 8 14 Interest cost 16 1 17 17 1 18 Interest income (15) (1) (16) (15) (1) (16) Pension expense 6 6 12 8 8 16 Other benefit plans The Company has post-employment benefits plans that provide post-retirement health and life insurance coverage to certain executive level retirees and are funded on a pay-as-you-go basis. The table below shows the change in the accrued post-retirement obligation which is recognized in the statement of financial position. 2019 2018 Accrued benefit obligation and plan deficit, beginning of year 3 4 Current service cost - - Interest cost - - Payment of benefits to employees - - Remeasurements: Effect of changes in demographic assumptions 1 (1) Accrued benefit obligation and plan deficit, end of year 4 3 The weighted average duration of the benefit obligation at August 31, 201 9 is 17. 2 years. The post-retirement benefit plan expense, which is included in employee salaries and benefits expense, is $ nil (201 8 - $nil ) and is comprised of current service and interest cost. The discount rates used to measure the post-retirement benefit cost for the year and the accrued benefit obligation as at August 31, 201 9 were 3.70 % and 2.90 % , respectively (201 8 – 3. 8 0 % and 3. 7 0 % , respectively). A one percentage point decrease in the discount rate would have increased the accrued benefit obligation at August 31 , 201 9 by $ 1 . Employer contributions The Company’s estimated contributions to the defined benefit plans in fiscal 20 20 is $ 6 . |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of transactions between related parties [abstract] | |
Related Party Transactions | 2 9 . RELATED PARTY TRANSACTIONS Controlling shareholder The majority of the Class A Shares are held by the Shaw Family Living Trust (“SFLT”). The sole trustee of SFLT is a private company owned by JR Shaw and having a board comprised of seven directors, including JR Shaw as chair, Bradley S. Shaw , four other members of his fa mily , and one independent director . JR Shaw and members of his family are represented as Directors, Senior Executive and Corporate Officers of the Company. Significant investments in subsidiaries The following are the significant subsidiaries of the Compa ny, all of which are incorporated or partnerships in Canada . Ownership Interest August 31, August 31, 2019 2018 Shaw Cablesystems Limited 100% 100% Shaw Cablesystems G.P. 100% 100% Shaw Cablesystems (VCI) Ltd. 100% 100% Shaw Envision Inc. 100% 100% Shaw Telecom Inc. 100% 100% Shaw Telecom G.P. 100% 100% Shaw Satellite Services Inc. 100% 100% Star Choice Television Network Incorporated 100% 100% Shaw Satellite G.P. 100% 100% Freedom Mobile Inc. 100% 100% Key management personnel and Board of Directors Key management personnel consist of the most senior executive team and along with the Board of Directors, and have the authority and responsibility for planning, directing and controlling the activities of the Company. Compensation The compensation expense of key management personnel and Board of Directors is as follows: 2019 2018 $ $ Short-term employee benefits 29 25 Post-employment pension benefits 9 8 Termination benefits - 7 Share-based compensation 2 4 40 44 Transactions The Company paid $ 2 (201 8 - $ 2 ) for collection, installation and maintenance services to a company controlled by a Director of the Company. During the year, the Company paid $ 12 (201 8 - $ 1 2 ) for remote control units to a supplier where Directors of the Company hold positions on the supplier’s board of directors. During the year, network fees of $ 27 (201 8 - $ 2 6 ) were paid to a programmer where a Director of the Company holds a position on t he programmer’s board of directors. At August 31, 201 9 , the Company had $ 4 owing in respect of these transactions (201 8 - $ 4 ). On May 15, 2019, the Company completed the sale of a non-core parcel of land and the building located thereon (the “Property”), to an affiliate of Shaw Family Living Trust (“SFLT”) (the “Purchaser”), for total net proceeds of approximately $ 45 . The Property had a net book value of approximately $ 4 resulting in a gain on disposition of approximately $ 41 . The purchase price was dete rmined based on appraisals performed by two independent valuators. As part of the transaction, the Purchaser agreed to lease back the Property to the Company for a term of three years at market rental rates (which was also based on appraisals from the two independent valuators) allowing the Company to monetize a non-core asset. The transaction was approved by the independent Board members of the Company. Other related parties The Company has entered into certain transactions and agreements in the normal co urse of business with certain of its related parties. These transactions are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. Corus The Company and Corus are subject to common voting control. During the year, network fees of $ 124 (201 8 - $ 13 3 ), advertising fees of $ 2 (201 8 - $ 4 ), programming fees of $ 16 (201 8 - $ 16 ), and administrative fees of $ 4 (201 8 - $ 2 ) were paid to various Corus subsidiaries and entities subject to significant influence. In addition, the Company provided administrative, advertising and other services for $ 5 (201 8 - $ 5 ), uplink of television signals for $ 8 (201 8 - $ 8 ), and Internet serv ices and lease of circuits for $ 1 (201 8 - $ 1 ). At August 31, 201 9 , the Company had a net of $ 11 owing in respect of these transactions (201 8 - $ 13 ). The Company provided Corus with advertising spots in return for radio and television advertising. No monet ary consideration was exchanged for these transactions and no amounts were recorded in the accounts. Burrard Landing Lot 2 Holdings Partnership During the year, the Company paid $ 10 (201 8 - $ 1 2 ) to the Partnership for lease of office space in Shaw Tower. Shaw Tower, located in Vancouver, BC, is the Company’s headquarters for its lower mainland operations. At August 31, 201 9 , the Company had a remaining commitment of $ 55 in respect of the office space lease which is included in the amounts disclosed in not e 2 7 . |
Financial Instruments
Financial Instruments | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | 30 . FINANCIAL INSTRUMENTS Fair values The fair value of financial instruments has been determined as follows: ( i ) Current assets and current liabilities The fair value of financial instruments included in current assets and current liabilities approximates their carrying value due to their short-term nature. (ii) Investments and other assets and Other long-term assets The fair value of publicly traded investments is determined by quoted market prices. Investments in private entiti es which do not have quoted market prices in an active market and whose fair value cannot be readily measured are carried at approximate fair value . No published market exists for such investments. These equity investments have been made as they are consid ered to have the potential to provide future benefit to the Company and accordingly, the Company has no current intention to dispose of these investments in the near term. The fair value of long-term receivables approximates their carrying value as they ar e recorded at the net present values of their future cash flows, using an appropriate discount rate. (iii) Long-term debt The carrying value of long-term debt is at amortized cost based on the initial fair value as determined at the time of issuance. The fair value of publicly traded notes is based upon current trading values. The fair value of finance lease obligations is determined by discounting future cash flows using a rate for loans with similar terms, conditions and maturity dates. The carrying val ue of bank credit facilities approximates fair value as the debt bears interest at rates that fluctuate with market rates. Other notes and debentures are valued based upon current trading values for similar instruments. ( i v) Derivative financial instrumen ts The fair value of US currency forward purchase contracts is determined using an estimated credit-adjusted mark-to-market valuation using observable forward exchange rates at the end of reporting periods and contract forward rates. The carrying values and estimated fair values of an investment in a publicly traded company and long-term debt are as follows: August 31, 2019 August 31, 2018 Carrying value Estimated fair value Carrying value Estimated fair value Assets Investment in publicly traded company (1) - - 615 298 Liabilities Long-term debt (including current portion) (2) 5,308 6,014 4,311 4,788 (1) Level 1 fair value – determined by quoted market prices. (2) Level 2 fair value – determined by valuation techniques using inputs based on observable market data, either directly or indirectly, other than quoted prices. Risk management The Company is exposed to various market risks including currency risk and interest rate risk, as well as credit risk and liquidity risk associated with financial assets and liabilities. The Company has designed and implemented various risk management strategi es, discussed further below, to ensure the exposure to these risks is consistent with its risk tolerance and business objectives. Market risk Market risk is the risk that the fair value or cash flows of a financial instrument will fluctuate as a result of changes in market prices, including foreign exchange and interest rates, the Company’s share price and market price of publicly traded investments. Currency risk Certain of the Company’s capital expenditures and equipment costs are incurred in US dolla rs, while its revenue is primarily denominated in Canadian dollars. Decreases in the value of the Canadian dollar relative to the US dollar could have an adverse effect on the Company’s cash flows. To mitigate some of the uncertainty in respect to capital expenditures and equipment costs, the Company regularly enters into forward contracts in respect of US dollar commitments. With respect to 201 9 , the Company entered into forward contracts to purchase US $ 96 over a period of 12 months commencing in Septembe r 201 8 at an average exchange rate of 1.2915 Cdn . At August 31, 201 9 the Company had forward contracts to purchase US $ 72 over a period of 12 months commencing September 201 9 at an average exchange rate of 1.3115 Cdn in respect of US dollar commitments. I nterest rate risk Due to the capital-intensive nature of its operations, the Company utilizes long-term financing extensively in its capital structure. The primary components of this structure are a banking facility and various Canadian senior notes with v arying maturities issued in the public markets as more fully described in Note 1 4 . Interest on the Company’s unsecured banking facility and accounts receivable securitization program are based on floating rates, while the senior notes are fixed-rate obl igations. When drawn, t he Company utilizes its credit facility to finance day-to-day operations and, depending on market conditions, periodically converts the bank loans to fixed-rate instruments through public market debt issues. As at August 31, 201 9 , 10 0% of the Company’s consolidated long-term debt was fixed with respect to interest rates. Sensitivity analysis The sensitivity to currency risk has been determined based on a hypothetical change in Canadian dollar to US dollar foreign exchange rates of 10 % . Foreign exchange forward contracts would be impacted by this hypothetical change resulting in a change to oth er comprehensive income by $ 7 net of tax (201 8 – $ 9 ). A portion of the Company’s accounts receivables and accounts payable and accrued liabilities is denominated in US dollars; however, due to their short-term nature, there is no significant market risk ar ising from fluctuations in foreign exchange rates. Interest on the Company’s banking facility is based on floating rates. As at August 31, 201 9 there is no significant market risk arising from interest rate fluctuations within a reasonably contemplated ra nge from their actual amounts. At August 31, 201 9 , a one dollar change in the Company’s Class B Non-Voting Shares would have had an impact on net income of $ 1 (August 31, 2018 - $ 1 ) in respect of the Company’s DSU , RSU, and PSU plan s . Credit risk Account s receivable in respect of the Consumer, Business and Wireless divisions are not subject to any significant concentrations of credit risk due to the Company’s large and diverse customer base. As at August 31, 201 9 , the Company had accounts receivable of $ 2 87 (August 31, 201 8 - $ 2 53 ), net of the allowance for doubtful accounts of $ 98 (August 31, 201 8 - $ 59 ). The Company maintains an allowance for doubtful accounts for the estimated losses resulting from the inability of its customers to make required paymen ts. In determining the allowance, the Company considers factors such as the number of days the customer account is past due, whether or not the customer continues to receive service, the Company’s past collection history and changes in business circumstanc es. As at August 31, 201 9 , $ 158 ( August 31, 201 8 - $ 123 ) of accounts receivable is considered to be past due, defined as amounts outstanding past normal credit terms and conditions. Uncollectible accounts receivable are charged against the allowance accoun t based on the age of the account and payment history. The Company believes that its allowance for doubtful accounts is sufficient to reflect the related credit risk. The Company mitigates credit risk of subscriber receivables through advance billing and procedures to downgrade or suspend services on accounts that have exceeded agreed credit terms and routinely assesses the financial strength of its business customers t hrough periodic review of payment practices. Credit risks associated with US currency contracts arise from the inability of counterparties to meet the terms of the contracts. In the event of non-performance by the counterparties, the Company’s accounting loss would be limited to the net amount that it would be entitled to receive under the contracts and agreements. In order to minimize the risk of counterparty default under its swap agreements, the Company assesses the creditworthiness of its swap counter parties. Liquidity risk Liquidity risk is the risk that the Company will experience difficulty in meeting obligations associated with financial liabilities. The Company manages its liquidity risk by monitoring cash flow generated from operations, available borrowing capacity, and by managing the maturity profiles of its long-term debt. The Company’s undiscounted contractual maturities as at August 31, 201 9 are as follows: (1) Level 1 fair value – determined by quoted market prices. (2) Level 2 fair value – determined by valuation techniques using inputs based on observable market data, either directly or indirectly, other than quoted prices. Risk management The Company is exposed to various market risks including currency risk and interest rate risk, as well as credit risk and liquidity risk associated with financial assets and liabilities. The Company has designed and implemented various risk management strategi es, discussed further below, to ensure the exposure to these risks is consistent with its risk tolerance and business objectives. Market risk Market risk is the risk that the fair value or cash flows of a financial instrument will fluctuate as a result of changes in market prices, including foreign exchange and interest rates, the Company’s share price and market price of publicly traded investments. Currency risk Certain of the Company’s capital expenditures and equipment costs are incurred in US dolla rs, while its revenue is primarily denominated in Canadian dollars. Decreases in the value of the Canadian dollar relative to the US dollar could have an adverse effect on the Company’s cash flows. To mitigate some of the uncertainty in respect to capital expenditures and equipment costs, the Company regularly enters into forward contracts in respect of US dollar commitments. With respect to 201 9 , the Company entered into forward contracts to purchase US $ 96 over a period of 12 months commencing in Septembe r 201 8 at an average exchange rate of 1.2915 Cdn . At August 31, 201 9 the Company had forward contracts to purchase US $ 72 over a period of 12 months commencing September 201 9 at an average exchange rate of 1.3115 Cdn in respect of US dollar commitments. I nterest rate risk Due to the capital-intensive nature of its operations, the Company utilizes long-term financing extensively in its capital structure. The primary components of this structure are a banking facility and various Canadian senior notes with v arying maturities issued in the public markets as more fully described in Note 1 4 . Interest on the Company’s unsecured banking facility and accounts receivable securitization program are based on floating rates, while the senior notes are fixed-rate obl igations. When drawn, t he Company utilizes its credit facility to finance day-to-day operations and, depending on market conditions, periodically converts the bank loans to fixed-rate instruments through public market debt issues. As at August 31, 201 9 , 10 0% of the Company’s consolidated long-term debt was fixed with respect to interest rates. Sensitivity analysis The sensitivity to currency risk has been determined based on a hypothetical change in Canadian dollar to US dollar foreign exchange rates of 10 % . Foreign exchange forward contracts would be impacted by this hypothetical change resulting in a change to oth er comprehensive income by $ 7 net of tax (201 8 – $ 9 ). A portion of the Company’s accounts receivables and accounts payable and accrued liabilities is denominated in US dollars; however, due to their short-term nature, there is no significant market risk ar ising from fluctuations in foreign exchange rates. Interest on the Company’s banking facility is based on floating rates. As at August 31, 201 9 there is no significant market risk arising from interest rate fluctuations within a reasonably contemplated ra nge from their actual amounts. At August 31, 201 9 , a one dollar change in the Company’s Class B Non-Voting Shares would have had an impact on net income of $ 1 (August 31, 2018 - $ 1 ) in respect of the Company’s DSU , RSU, and PSU plan s . Credit risk Account s receivable in respect of the Consumer, Business and Wireless divisions are not subject to any significant concentrations of credit risk due to the Company’s large and diverse customer base. As at August 31, 201 9 , the Company had accounts receivable of $ 2 87 (August 31, 201 8 - $ 2 53 ), net of the allowance for doubtful accounts of $ 98 (August 31, 201 8 - $ 59 ). The Company maintains an allowance for doubtful accounts for the estimated losses resulting from the inability of its customers to make required paymen ts. In determining the allowance, the Company considers factors such as the number of days the customer account is past due, whether or not the customer continues to receive service, the Company’s past collection history and changes in business circumstanc es. As at August 31, 201 9 , $ 158 ( August 31, 201 8 - $ 123 ) of accounts receivable is considered to be past due, defined as amounts outstanding past normal credit terms and conditions. Uncollectible accounts receivable are charged against the allowance accoun t based on the age of the account and payment history. The Company believes that its allowance for doubtful accounts is sufficient to reflect the related credit risk. The Company mitigates credit risk of subscriber receivables through advance billing and procedures to downgrade or suspend services on accounts that have exceeded agreed credit terms and routinely assesses the financial strength of its business customers t hrough periodic review of payment practices. Credit risks associated with US currency contracts arise from the inability of counterparties to meet the terms of the contracts. In the event of non-performance by the counterparties, the Company’s accounting loss would be limited to the net amount that it would be entitled to receive under the contracts and agreements. In order to minimize the risk of counterparty default under its swap agreements, the Company assesses the creditworthiness of its swap counter parties. Liquidity risk Liquidity risk is the risk that the Company will experience difficulty in meeting obligations associated with financial liabilities. The Company manages its liquidity risk by monitoring cash flow generated from operations, available borrowing capacity, and by managing the maturity profiles of its long-term debt. The Company’s undiscounted contractual maturities as at August 31, 201 9 are as follows: Short-term borrowings Accounts payable and accrued liabilities (1) Other Long-Term Liabilities Long-term debt repayable at maturity Interest payments Within one year 40 1,015 - 1,251 217 1 to 3 years - - 1 802 360 3 to 5 years - - 1 1,002 320 Over 5 years - - 1 2,295 1,608 40 1,015 3 5,350 2,505 (1) Includes accrued interest and dividends of $ 244 . |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flow | 12 Months Ended |
Aug. 31, 2019 | |
Statement of cash flows [abstract] | |
Consolidated Statements Of Cash Flows | 3 1 . CONSOLIDATED STATEMENTS OF CASH FLOWS (i) Funds flow from continuing operations 2018 2019 (restated, note 2) $ $ Net income from continuing operations 733 39 Adjustments to reconcile net income to funds flow from operations: Amortization 1,041 1,028 Deferred income tax expense (recovery) 4 (9) Share-based compensation 3 3 Defined benefit pension plans 7 11 Equity (income)/ loss of an associate or joint venture (46) 200 Loss on disposal of an associate or joint venture 109 - Gain on disposal of investments (15) - Net change in contract asset balances (23) (76) Gain on disposal of fixed asets and intangibles (32) (15) Other (4) (4) Funds flow from continuing operations 1,777 1,177 (ii) Interest and income taxes paid and interest received and classified as operating activities are as follows: 2019 2018 $ $ Interest paid 230 239 Income taxes paid (net of refunds) 166 155 Interest received 29 4 (iii) Non-cash transactions The Consolidated Statements of Cash Flows exclude the following non-cash transactions: 2019 2018 $ $ Issuance of Class B Non-Voting Shares: Dividend reinvestment plan (note 20) 217 211 |
Capital Structure Management
Capital Structure Management | 12 Months Ended |
Aug. 31, 2019 | |
Capital Structure Management [Abstract] | |
Capital Structure Management | 3 2 . CAPITAL STRUCTURE MANAGEMENT The Company’s objectives when managing capital are: (i ) to maintain a capital structure which optimizes the cost of capital, provides flexibility and diversity of funding sources and timing of debt maturities, and adequate anticipated liquidity for organic growth and strategic acquisitions; (ii) to maintain compliance with debt covenants; and (iii) to manage a strong and efficient capital base to maintain investor, creditor and market confidence. The Company defines capital as comprising all components of shareholders’ equity (other than non-controlling interests and amounts in accumulated other comprehensive income/loss), long-term debt (including the current portion thereof), short-term borrowings and bank indebtedness less cash and cash equivalents. 2018 2019 (restated, note 2) $ $ Cash (1,446) (384) Short-term borrowings 40 40 Long-term debt repayable at maturity 5,350 4,350 Share capital 4,605 4,349 Contributed surplus 26 27 Retained earnings 1,745 1,632 10,320 10,014 The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of underlying assets. The Company may also from time to time change or adjust its objectives when managing capital in light of the Company’s business circumstances, strategic oppor tunities, or the relative importance of competing objectives as determined by the Company. There is no assurance that the Company will be able to meet or maintain its currently stated objectives. The Company’s credit facilities are subject to covenants which include maintaining minimum or maximum financial ratios, including total debt to operating cash flow/adjusted earnings before interest, taxes, depreciation and amortization, and operating cash flow to fixed charges. At August 31, 201 9 , the Company is in compliance with these covenants and based on current business plans and economic conditions, the Company is not aware of any condition or event that would give rise to non-compliance with the covenants. The Company’s overall capital structure managem ent strategy remains unchanged from the prior year. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | 3 3 . SUBSEQUENT EVENTS On October 1, 2019, the Company repaid $ 1,250 of 5.65 % senior notes at their maturity. Subsequent to year-end, on October 24, 2019, in accordance with the terms of our Dividend Reinvestment Plan (the “DRIP”), the Company announced that in lieu of issuing shares from treasury, it will satisfy its share delivery obligations under the DRIP by purchasing Class B Shares on the open market. In addition, the Company will reduce its discount from 2 % to 0 % for the Class B Shares delivered under the DRIP. These changes to the DRIP will apply to the dividends payable on November 28, 2019 to shareholders of record on November 15, 2019. Subsequent to year-end, on October 29, 2019, the Company announced that it had received approval from the Toronto Stock Exchange (“TSX”) to establish a normal course issuer bid (“NCIB”) program. The program commenced on November 1, 2019 and will remain in effect unti l October 31, 2020. As approved by the TSX, the Company has the ability to purchase for cancellation up to 24,758,127 Class B Shares representing 5% of all of the issued and outstanding Class B Shares as at October 18, 2019. As of November 15, 2019, the Co mpany has purchased 483,428 Class B Non-Voting Shares for cancellation for a total cost of approximately $ 13 million under the NCIB. On November 21, 2019, the Company extended the term of its $ 1.5 billion bank credit facility from December 2023 to December 2024. This credit facility is used for working capital and general corporate purposes. |
Basis Of Presentation And Acc_2
Basis Of Presentation And Accounting Policies (Policy) | 12 Months Ended |
Aug. 31, 2019 | |
Basis of Presentation and Accounting Policies [Abstract] | |
Statement Of Compliance | Statement of compliance These consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements of the Company for the years ended August 31, 201 9 and 201 8 , were approved by the Board of Directors and authorized for issue on November 27 , 201 9 . |
Basis Of Presentation And Basis Of Consolidation | Basis of presentation These consolidated financial statements have been prepared primarily under the historical cost convention and are expressed in millions of Canadian dollars unless otherwise indicated. Other measurement bases used are outlined below and in the applicable notes. The consolidated stateme nts of income are presented using the nature classification for expenses. Certain comparative figures have been reclassified to conform to the current year’s presentation. Certain figures included within these consolidated financial statements have been adjusted to correct an immaterial , inadvertent overstatement of previously reported wireless service revenue for the year ended August 31, 2019 of $ 7 million. Basis of consolidation (i) Subsidiaries The consolidated financial statements include the accou nts of the Company and those of its subsidiaries, which are entities over which the Company has control. Control exists when the Company has power over an investee, is exposed to or has rights to variable returns from its involvement and has the ability to affect those returns. Intercompany transactions and balances are eliminated on consolidation. The results of operations of subsidiaries acquired during the period are included from their respective dates of acquisition, being the time at which the Compan y obtains control. Consolidation of a subsidiary ceases when the Company loses control. A change in ownership interests of a subsidiary, without a loss of control, is accounted for as an equity transaction. The Company assesses control through share owne rship and voting rights. Non-controlling interests arise from business combinations in which the Company acquires less than 100% ownership interest. At the time of acquisition, non-controlling interests are measured at either fair value or their proportionate share of the fair va lue of the acquiree’s identifiable assets. The Company determines the measurement basis on a transaction by transaction basis. Subsequent to acquisition, the carrying amount of non-controlling interests is increased or decreased for their share of change s in equity. (ii) Joint operations A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities, relating to the joint arrangement. Joint cont rol is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The consolidated financial statements include the Company’s propo rtionate share of the assets, liabilities, revenues, and expenses of its interests in joint operations. The Company’s joint operations consist of a 33.33 % interest in the Burrard Landing Lot 2 Holdings Partnership (the “Partnership”). The Partnership owns and leases commercial space in Shaw Tower in Vancouver, BC, which is the Company’s headquarters for its lower mainland operations. In classifying its 33.33 % interest in the Partnership as a joint operation, the Company considered the terms and conditions of the partnership agreement and other facts and circumstances including the primary purpose of Shaw Tower which is to provide lease space to the partners. |
Investments In Associates And Joint Ventures | Investments in associates and joint ventures Associates are entities over which the Company has significant influence. Significant influence is the power to participate in the operating and financial policies of the investee, but is not control or joint control. A joint venture is a type of joint arrangement whereby the parties that have joint c ontrol of the arrangement have rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of th e parties sharing control. Investments in associates and joint ventures are accounted for using the equity method. Investments of this nature are recorded at original cost and adjusted periodically to recognize the Company’s proportionate share of the ass ociate’s or joint venture’s net income/loss and other comprehensive income/loss after the date of investment, additional contributions made and dividends received. The Company classified its approximate 38 % participating interest in Corus Entertainment Inc. (“Corus”) as an investment in an associate after considering both companies are subject to common control and the ability of the Company to appoint directors to Corus’ Board of Directors. On May 31, 2019, the Company sold all of its interest in Corus. The Company classified its 50 % interest in the Shomi Partnership (“shomi”) as an investment in a joint venture after considering the terms and conditions of the partnership . In September 2016, Shaw and Rogers Communications Inc., announced the decision to wind down its operations with service ending November 30, 2016. In December 2017, the remaining assets associated with shomi were transferred to their respective partners and the partnership was officially wound up. |
Revenue And Expenses | Revenue and expenses T he Company has multiple deliverable arrangements comprised of upfront fees (subscriber connection and installation fee revenue, customer premise equipment revenue, handset equipment revenue) and related subscription and service revenue. Upfront fees charge d to customers do not constitute separate units of accounting, therefore these revenue streams are assessed as an integrated package. (i) Revenue The Company records revenue from contracts with customers in accordance with the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and, (5) recognize revenue w hen (or as) we satisfy a performance obligation. Revenue for each performance obligation is recognized either over time or at a point in time. For performance obligations satisfied over time, revenue is recognized as the services are provided. Revenues o n certain long-term contracts are recognized using output methods based on products delivered, performance completed to date and time elapsed. Revenue from Cable, Internet, Digital Phone, Direct-to-Home (“DTH”) and Wireless customers includes subscriber re venue earned as services are provided. Satellite distribution services and telecommunications service revenue is recognized in the period in which the services are rendered to customers. In addition to monthly service plans, the Company also offers multi-y ear service plans in which the total amount of the contractual service revenue is accounted for on a straight-line basis over the term of the plan. Fees for wireless voice, text and data services on a pay-per-use basis are recognized in the period that the service is provided. Revenue from data centre customers includes colocation and other services revenue, including managed infrastructure revenue. Colocation revenue is recognized on a straight-line line basis over the term of the customer contract. Othe r services revenue, including managed infrastructure revenue, is recognized as the services are provided. Revenue for performance obligations satisfied at a point in time is recognized when control of the item or service transfers to the customer. Revenue from the direct sale of equipment to wireless subscribers or dealers is recognized when the equipment is delivered and accepted by the subscribers or dealers. For bundled arrangements (e.g. wireless handsets, and voice and data services), items are accou nted for as separate performance obligations if the item meets the definition of a distinct good or service. Stand-alone selling prices are determined using observable prices adjusted for market conditions and other factors, as appropriate. The Company off ers a discretionary wireless handset discount program, whereby the subscriber earns the applicable discount by maintaining services with the Company, such that the receivable relating to the discount at inception of the transaction is reduced over a period of time. This discount is allocated proportionately between the equipment and service revenue, with the equipment discount recognized when the handset is delivered and the corresponding service discount is classified as a contract asset. The contract asset is reduced on a straight-line basis over the period which the discount is forgiven to a maximum of two years with an offsetting reduction to service revenue. The Company also offers a plan allowing customers to receive a larger up-front handset discount than they would otherwise qualify for if they pay a predetermined incremental charge to their existing service plan on a monthly basis. The charge is billed on a monthly basis but is recognized as revenue when the handset is delivered and accepted by the subscriber . The amount receivable is classified as part of other current or other long-term assets , as applicable, in the consolidated statement of fin ancial position. When a customer can modify their contract within predefined terms such that we are not able to enforce the transaction price agreed to, but can only contractually enforce a lower amount, we allocate revenue between performance obligations using the minimum enforceable rights and obligations and any excess amount is recognized as revenue as its earned. (ii) Contract assets and liabilities We record a contract asset when we have provided goods and services to our customer but our right to r elated consideration for the performance obligation is conditional on satisfying other performance obligations. Contract assets are transferred to trade receivables when our right to consideration becomes conditional only as to the passage of time. A contr act liability is recognized when we receive consideration in advance of the transfer of products or services to the customer. We account for contract assets and liabilities on a contract-by-contract basis, with each contract presented as either a net contr act asset or a net contract liability accordingly. Subscriber connection fees received from Cable, Internet, and Digital Phone customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over three years. The costs of physically connecting a new home are capitalized as part of the distribution system and costs of disconnections are expensed as incurred. Initial setup fees related to the installation of data centre services and installation revenue received on contracts with commercial business customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over the related service contract, which generally span two to ten years. Direct and incremental costs associated with the installation of services or service contract, in an amount not exceeding the upfr ont revenue, are deferred as contract assets and recognized as an operating expense on a straight-line basis over the same period. (iii) Deferred commission cost assets We defer the incremental cost to obtain or fulfill a contract with a customer over th eir expected period of benefit to the extent they are recoverable. These costs include certain commissions paid to internal and external representatives. We defer them as deferred commission cost assets in other assets and amortize them to operating costs over the pattern of the transfer of goods and services to the customer, which is typically evenly over either 24 or 36 consecutive months. Direct and incremental initial selling, administrative and connection costs , including commissions related to subscr iber acquisitions are deferred and recognized as an operating expense on a straight-line basis over three years . (iv) Deferred equipment revenue and deferred equipment costs Revenue from sales of DTH equipment is deferred and recognized on a straight-li ne basis over three years commencing when subscriber service is activated. The total cost of the equipment, including installation, represents an inventoriable cost which is deferred and recognized on a straight-line basis over the same period. The DTH e quipment is generally sold to customers at cost or a subsidized price in order to expand the Company’s customer base. Revenue from sales of satellite tracking hardware and costs of goods sold is deferred and recognized on a straight-line basis over the re lated service contract for monthly service charges for air time, which is generally five years. The amortization of the revenue and cost of sale of satellite service equipment commences when goods are shipped. Recognition of deferred equipment revenue an d deferred equipment costs is recorded as deferred equipment revenue amortization and deferred equipment costs amortization, respectively. ( v ) Deferred IRU revenue Prepayments received under indefeasible right to use (“IRU”) agreements are amortized on a straight-line basis into income over the term of the agreement and included in amortization of property, plant and equipment, intangibles and other in the consolidated statements of income. |
Cash | Cash Cash is presented net of outstanding cheques. When the amount of outstanding cheques and the amount drawn under the Company’s revolving term facility are greater than the amount of cash, the net amount is presented as bank indebtedness. |
Securitization Of Trade Receivables | Securitization of trade receivables Sales of trade receivables in securitization transactions are recognized as collateralized short-term borrowings as we do not transfer control and substantially all the risks and rewards of ownership to another entity and thus do not result in our de-recognition of the trade receivable s sold. |
Allowance For Doubtful Accounts | Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts for the estimated losses resulting from the inability of its customers to make required payments. In determining the allowance, the Company considers factors such as the number of days the account is past due, whether or not the customer continues to receive service, the Company’s past collection history and changes in business circumstances. |
Inventories | Inventories Inventories include subscriber equipment such as DTH receivers, which are held pending rental or sale at cost or at a subsidized price and wireless handsets, accessories and SIM cards . When subscriber equipment is sold, the equipment revenue and equipment costs are deferred and amortized over three years. When the subscriber equipment is rented, it is transferred to property, plant and equipment and amortized over its useful life. Inventories are determined on a first-in, first-out basis, and are stated at cost due to the eventual capital nature as either a n addition to property, plant and equipment or deferred equipment costs. Inventories of wireless handsets, accessories and SIM cards are carried at the lower of cost and net realizable value. Cost is determined using the weighted average method and inc ludes expenditures incurred in acquiring the inventories and bringing them to their existing condition and location. Net realizable value is the estimated selling price in the ordinary course of business, less selling expenses. |
Property, Plant And Equipment | Property, plant and equipm ent Property, plant and equipment are recorded at purchase cost. Direct labour and other directly attributable costs incurred to construct new assets, upgrade existing assets and connect new subscribers are capitalized as well as borrowing costs on qualif ying assets. In addition, any asset removal and site restoration costs in connection with the retirement of assets are capitalized. Repairs and maintenance expenditures are charged to operating expense as incurred. Amortization is recorded on a straight-l ine basis over the estimated useful lives of assets as follows: Asset Estimated useful life Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 years Satellite audio, video and data network equipment and DTH receiving equipment 3-15 years Buildings 15-40 years Data centre infrastructure 3-21 years Data processing 4-10 years Other 4-20 years The Company reviews the estimates of lives and useful lives on a regular basis. |
Assets Held For Sale And Discontinued Operations | Assets held for sale and discontinued operations Non-current assets and disposal groups are classified as held for sale when specific criteria are met and are measured at the lower of carrying amount and estimated fair value less costs to sell. Assets held for sale are not amortized and are reported sep arately on the statement of financial position. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. Discontinued o perations reporting occurs when the disposal of a component or a group of components of the Company represents a strategic shift that will have a major impact on the Company’s operations and financial results, and where the operations and cash flows can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company. The results of discontinued operations are excluded from both continuing operations and business segment information in the consolidated financial statements and the notes to the consolidated financial statements, unless otherwise noted, and are presented net of tax in the statement of income for the current and comparative periods. Refer to Note 3 for further information regarding the Company’s disc ontinued operations. |
Other Long-Term Assets | Other long-term assets Other long-term assets primarily include (i) equipment costs, as described in the revenue and expenses accounting policy, deferred and amortized on a straight-line basis over three to five years, (ii) the non-cu rrent portion of wireless handset discounts receivable as described in the revenue and expenses accounting policy, ( i ii ) credit facility arrangement fees amortized on a straight-line basis over the term of the facility, ( i v) long-term receivables, (v) netw ork capacity leases, (vi) the non-current portion of prepaid maintenance and support contracts and (vii) direct costs in connection with initial setup fees and installation of services , as described in the revenue and expenses accounting policy, deferred a nd amortized on a straight-line basis over two to ten years. |
Intangibles | Intangibles The excess of the cost of acquiring cable, satellite, media, data centre and wireless businesses over the fair value of related net identifiable tangible and intangible assets acquir ed is allocated to goodwill. Net identifiable intangible assets acquired consist of amounts allocated to broadcast rights and licences, wireless spectrum licences, trademarks, brands, program rights, customer relationships and software assets. Broadcast ri ghts and licences, wireless spectrum licences, trademarks and brands represent identifiable assets with indefinite useful lives. Customer relationships represent the value of customer contracts and relationships acquired in a business combination and are amortized on a straight-line basis over their estimated useful lives ranging from 4 – 15 years. Software that is not an integral part of the related hardware is classified as an intangible asset. Internally developed software assets are recorded at histo rical cost and include direct material and labour costs as well as borrowing costs on qualifying assets. Software assets are amortized on a straight-line basis over estimated useful lives ranging from 3 – 10 years. The Company reviews the estimates of liv es and useful lives on a regular basis. |
Borrowing Costs | Borrowing costs The Company capitalizes borrowing costs on qualifying assets that take more than one year to construct or develop using the Company’s weighted average cost of borrowing which approximated 5 % ( 201 8 - 6 %). |
Impairment | Impairment (i) Goodwill and indefinite-life intangibles The Company tests goodwill and indefinite-life intangibles for impairment annually (as at February 1) and when events or changes in circumstances indicate that the carrying value may be impai red. The recoverable amount of each cash-generating unit (“CGU”) is determined based on the higher of the CGU’s fair value less costs to sell (“FVLCS”) and its value in use (“VIU”). A CGU is the smallest identifiable group of assets that generate cash fl ows that are independent of the cash inflows from other assets or groups of assets. The Company’s cash generating units are Cable, Satellite, and Wireless. Where the recoverable amount of the CGU is less than its carrying amount, an impairment loss is reco gnized. Impairment losses relating to goodwill cannot be reversed in future periods. (ii) Non-financial assets with finite useful lives For non-financial assets, such as property, plant and equipment and finite-life intangible assets, an assessment is made at each reporting date as to whether there is an indication that an asset may be impaired. If any indication exists, the recoverable a mount of the asset is determined based on the higher of FVLCS and VIU. Where the carrying amount of the asset exceeds its recoverable amount, the asset is considered impaired and written down to its recoverable amount. Previously recognized impairment los ses are reviewed for possible reversal at each reporting date and all or a portion of the impairment is reversed if the asset’s value has increased. |
Provisions | Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The timing or amount of the ou tflow may still be uncertain. Provisions are measured using the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, taking into account risks and uncertainties associated with the obligation. Pro visions are discounted where the time value of money is considered material. (i) Asset retirement obligations The Company recognizes the fair value of a liability for an asset retirement obligation in the period in which it is incurred, on a discounted b asis, with a corresponding increase to the carrying amount of property and equipment, primarily in respect of wireless and transmitter sites. This cost is amortized on the same basis as the related asset. The liability is subsequently increased for the pas sage of time and the accretion is recorded in the income statement as accretion of long-term liabilities and provisions. The discount rates applied are subsequently adjusted to current rates as required at the end of reporting periods. Revisions due to the estimated timing of cash flows or the amount required to settle the obligation may result in an increase or decrease in the liability. Actual costs incurred upon settlement of the obligation are charged against the liability to the extent recorded. (ii) Restructuring provisions Restructuring provisions, primarily in respect of employee termination benefits, are recognized when a detailed plan for the restructuring exists and a valid expectation has been raised to those affected that the plan will be carr ied out. (iii) Other provisions Provisions for disputes, legal claims and contingencies are recognized when warranted. The Company establishes provisions after taking into consideration legal assessments (if applicable), expected availability of insurance or other recourse and other available information. |
Deferred Credits | Deferred credits Deferred credits primarily include: (i) prepayments received under IRU agreements amortized on a straight-line basis into income over the term of the agreement, (ii) equipment revenue , as described in the revenue and expenses accounting policy, deferred and amortized over three to five years, ( i ii ) a deposit on a future fibre sale. |
Leases | Leases (i) Operating leases Rent expense for real estate leases that have escalating lease payments is r ecorded on a straight-line basis over the term of the lease. The difference between the expense recorded and the amount paid is recorded as deferred rent and included in deferred credits in the statement of financial position. (ii) Finance leases Leases o f property and equipment that transfer substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalized at the commencement of the lease at the fair value of the leased property or, if lower, at the pres ent value of the minimum lease payments. Lease payments are apportioned between interest expense and reduction of the lease liability. The property and equipment acquired under finance leases is depreciated over the shorter of the useful life of the asset and the lease term. |
Income Taxes | Income taxes The Company accounts for income taxes using the liability method, whereby deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabili ties measured using substantively enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset and they relate to income tax es levied by the same authority in the same taxable entity. Income tax expense for the period is the tax payable for the period using tax rates substantively enacted at the reporting date, any adjustments to taxes payable in respect of previous years and a ny change during the period in deferred income tax assets and liabilities, except to the extent that they relate to a business combination or divestment, items recognized directly in equity or in other comprehensive income. The Company records interest and penalties related to income taxes in interest expense. |
Tax Credits And Government Grants | Tax credits and government grants The Company receives tax credits primarily related to its research and development activities. Government financial assistance is recognized when management has reasonable assurance that the conditions of the government programs are met and accounted for as a reduction of related costs, whether capitalized and amortized or expensed in the period the costs are incurred. |
Foreign Currency Translation | Foreign currency translation Transactions originating in foreign currencies are translated into Canadian dollars at the exchange rate at the date of the transaction. Monetary assets and liabilities are translated at the period-end rate of exchange and non-monetary items are translate d at historic exchange rates. The net foreign exchange gain/(loss) recognized on the translation and settlement of current monetary assets and liabilities was $ 5 (201 8 – $ 1 ) and is included in other gains/(losses). |
Financial Instruments Other Than Derivatives | Financial instruments other than derivat ives Financial instruments have been classified and measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL) . Cash and derivative instruments ha ve been classified as FVTPL and are record ed at fair value with any change in fair value immediately recognized in income (loss). Investments in equity securities are classified and measured at FVTPL . Loans and receivables and financial liabilities are carried at amortized cost. None of the Compa ny’s financial liabilities are classified as FVTPL . Finance costs and discounts associated with the issuance of debt securities are netted against the related debt instrument and amortized to income using the effective interest rate method. Accordingly , long-term debt accretes over time to the principal amount that will be owing at maturity. |
Derivative Financial Instruments And Hedging Activities | Derivative financial instruments and hedging activities The Company uses derivative financial instruments, such as foreign currency forward purchase contracts, t o manage risks from fluctuations in foreign exchange rates. All derivative financial instruments are recorded at fair value in the statement of financial position. Where permissible, the Company accounts for these financial instruments as hedges which ensu res that counterbalancing gains and losses are recognized in income in the same period. With hedge accounting, changes in the fair value of derivative financial instruments designated as cash flow hedges are recorded in other comprehensive income (loss) un til the variability of cash flows relating to the hedged asset or liability is recognized in income (loss). When an anticipated transaction is subsequently recorded as a non-financial asset, the amounts recognized in other comprehensive income (loss) are r eclassified to the initial carrying amount of the related asset. Where hedge accounting is not permissible or derivatives are not designated in a hedging relationship, they are classified as held-for-trading and the changes in fair value are immediately re cognized in income (loss). Instruments that have been entered into by the Company to hedge exposure to foreign currency risk are reviewed on a regular basis to ensure the hedges are still effective and that hedge accounting continues to be appropriate. |
Fair Value Measurements | Fair value measurements Fair value estimates are made at a specific point in time, based on relevant market information and information about the underlying asset or liability . These estimates are subjective in nature and involve uncertainties and matters of significant judgement and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value hierarchy is bas ed on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from ind ependent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels: Level 1 Inputs are quoted prices in active markets for identical ass ets or liabilities. Level 2 Inputs for the asset or liability are based on observable market data, either directly or indirectly, other than quoted prices. Level 3 Inputs for the asset or liability are not based on observable market data. The Company determines whether transfers have occurred between levels in the fair value hierarchy by assessing the impact of events and changes in circumstances that could result in a transfer at the end of each reporting period. |
Employee Benefits | Employee benefits The Company accrues its obligations under its employee benefit plans, net of plan assets. The cost of pensions and other retirement benefits earned by certain employees is actuarially determined using the projected benefit method pro-rated on service and management’s best estimate of salary escalation and retirement ages of employees. Past service costs from plan initiation and amendments are recognized immediately in the income statement. Remeasurements include actuarial gains or losses and the return on plan assets (excluding interest income). Actuarial gains and losses occur because assumptions about benefit plans relate to a long time frame and differ from actual experiences. These assumptions are revised based on actual experience of the plans such as changes in discount rates, expected retirement ages and projected salary increases. Remeasurements are recognized in other comprehensive income (loss) on an annual basis, at a minimum, and on an interim basis when there are significant changes in assumptions. Aug ust 31 is the measurement date for the Company’s employee benefit plans. The last actuarial valuations for funding purposes for the various plans were performed effective August 31, 201 9 and the next actuarial valuations for funding purposes are effective August 31, 20 20 . |
Earnings Per Share | Earnings per share Basic earnings per s hare is based on net income attributable to equity shareholders adjusted for dividends on preferred shares and is calculated using the weighted average number of Class A Shares and Class B Non-Voting Shares outstanding during the period. Diluted earnings p er share is calculated by considering the effect of all potentially dilutive instruments. In calculating diluted earnings per share, any proceeds from the exercise of stock options and other dilutive instruments are assumed to be used to purchase Class B N on-Voting Shares at the average market price during the period. |
Share-Based Compensation | Share-based compensation The Company has a stock option plan for directors, officers, employees and consultants to the Company. The strike price of options to purchase shares must be issued at not less than the fair value at the date of g rant. Any consideration paid on the exercise of stock options, together with any contributed surplus recorded at the date the options vested, is credited to share capital. The Company calculates the fair value of share-based compensation awarded to employe es using the Black-Scholes option pricing model. The fair value of options are expensed and credited to contributed surplus over the vesting period of the options using the graded vesting method. The Company has a restricted share unit (“RSU”) and performance share unit (“PSU”) plan which provides that RSUs may be granted to officers , employees and directors of the Company , and PSUs may be granted to officers and employees of the Company . RSUs vest on either the first, second and third anniversary of the g rant date or 100% on the third anniversary of the grant date and compensation is recognized on a straight-line basis over the three-year vesting period. PSUs vest 100% on the third anniversary of the grant date. RSUs and PSUs will be settled in either cash or Class B Non-Voting shares as determined by the Human Resources and Compensation Committee at the time of the grant and the obligation for RSUs and PSUs is measured at the end of each period at fair value using the Black-Sc holes option pricing model and the number of outstanding RSUs and PSUs . For PSU s , the performance criteria is set by the by the Human Resources and Compensation Committee at the time of the grant, and typically requires the achievement of a minimum level of performance, otherwise the payment is zero, while maximum performance is capped at 150%. On settlement of vested PSUs, the number of Class B Non-Voting shares issued or delivered, or the amount of cash payment will be multiplied by the applicable performance factor. The Company has a deferred share unit (“DSU”) plan for its Board of Directors. Compensation cost is recognized immediately as DSUs vest when granted. DSUs will be settled in cash and the obligation is measured at the end of each period at fa ir value using the Black-Scholes option pricing model and the number of outstanding DSUs. Directors may elect to receive their compensation in cash, RSUs, DSUs or a combination thereof . Any director who has not met their share ownership guidelines is generally required to elect to receive at least 50% of their annual compensation in DSUs and/or RSUs. The Company has an employee share purchase plan (the “ESPP”) under which eligible employees may contribute to a maximum of 5 % of their monthly base compen sation. The Company contributes an amount equal to 25 % of the participant’s contributions, increasing to 33 % once an employee reaches 10 years of continuous service, and records such amounts as compensation expense. |
Guarantees | Guarantees The Company discloses information about certain types of guarantees that it has provided, including certain types of indemnities, without regard to whether it will have to make a ny payments under the guarantees. |
Estimation Uncertainty And Critical Judgements | Estimation uncertainty and critical judgments The preparation of consolidated financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates and signif icant changes in assumptions could cause an impairment in assets. The following require the most difficult, complex or subjective judgments which result from the need to make estimates about the effects of matters that are inherently uncertain. Estimation uncertainty The following are key assumptions concerning the future and other key sources of estimation uncertainty that could impact the carrying amount of assets and liabilities and results of operations in future periods. (i) Allowance for doubtful ac counts The Company is required to make an estimate of an appropriate allowance for doubtful accounts on its receivables. The estimated allowance required is a matter of judgment and the actual loss eventually sustained may be more or less than the estimate , depending on events which have yet to occur and which cannot be foretold, such as future business, personal and economic conditions. (ii) Contractual service revenue The Company is required to make judgments and estimates that affect the amount and timing of revenue from contracts with customers, including estimates of the stand-alone selling prices of wireless products and services, the identification of performance obligations within a contract and the timing of satisfaction of performance obligati ons under long-term contracts. Determining the deferral criteria for the costs incurred to obtain or fulfill a contract requires us to make significant judgments . We expect incremental commission fees paid to internal and external representatives as a re sult of obtaining contracts with customers to be recoverable. (iii) Property, plant and equipment The Company is required to estimate the expected useful lives of its property, plant and equipment. These estimates of useful lives involve significant judgm ent. In determining these estimates, the Company takes into account industry trends and company-specific factors, including changing technologies and expectations for the in-service period of these assets. Management’s judgment is also required in determi nation of the amortization method, the residual value of assets and the capitalization of labour and overhead. (iv) Business combinations – purchase price allocation Purchase price allocations involve uncertainty because management is required to make as sumptions and judgments to estimate the fair value of the identifiable assets acquired and liabilities assumed in business combinations. Fair value estimates are based on quoted market prices and widely accepted valuation techniques, including discounted c ash flow (“DCF”) analysis. Such estimates include assumptions about inputs to the valuation techniques, industry economic factors and business strategies. (v) Impairment The Company estimates the recoverable amount of its CGUs using a FVLCS calculation b ased on a DCF analysis or market approach or a VIU calculation based on a DCF analysis . Where a DCF analysis is used, significant judgments are inherent in this analysis including estimating the amount and timing of the cash flows attributable to the broad cast rights and licences, the selection of an appropriate discount rate, and the identification of appropriate terminal growth rate assumptions. In this analysis the Company estimates the discrete future cash flows associated with the intangible asset for five years and determines a terminal value. The future cash flows are based on the Company’s estimates of future operating results, economic conditions and the competitive environment. The terminal value is estimated using both a perpetuity growth assumpti on and a multiple of operating income before restructuring costs and amortization. The discount rates used in the analysis are based on the Company’s weighted average cost of capital and an assessment of the risk inherent in the projected cash flows. In an alyzing the FVLCS determined by a DCF analysis, the Company also considers a market approach determining a recoverable amount for each unit and total entity value determined using a market capitalization approach. Recent market transactions are taken into account, when available. The key assumptions used to determine the recoverable amounts, including a sensitivity analysis, are included in note 10. A DCF analysis uses significant unobservable inputs and is therefore considered a level 3 fair value measurem ent. (vi) Employee benefit plans The amounts reported in the financial statements relating to the defined benefit pension plans are determined using actuarial valuations that are based on several assumptions including the discount rate and rate of compens ation increase. While the Company believes these assumptions are reasonable, differences in actual results or changes in assumptions could affect employee benefit obligations and the related income statement impact. The most significant assumption used to calculate the net employee benefit plan expense is the discount rate. The discount rate is the interest rate used to determine the present value of the future cash flows that is expected will be needed to settle employee benefit obligations. It is based on the yield of long-term, high-quality corporate fixed income investments closely matching the term of the estimated future cash flows and is reviewed and adjusted as changes are required. (vii) Income taxes The Company is required to estimate income taxes using substantively enacted tax rates and laws that will be in effect when the differences are expected to reverse. In determining the measurement of tax uncertainties, the Company applies a probable weighte d average methodology. Realization of deferred income tax assets is dependent on generating sufficient taxable income during the period in which the temporary differences are deductible. Although realization is not assured, management believes it is more l ikely than not that all recognized deferred income tax assets will be realized based on reversals of deferred income tax liabilities, projected operating results and tax planning strategies available to the Company and its subsidiaries. (viii) Contingenci es The Company is subject to various claims and contingencies related to lawsuits, taxes and commitments under regulatory, contractual and other commercial obligations. Contingent losses are recognized by a charge to income when it is likely that a future event will confirm that an asset has been impaired or a liability incurred at the date of the financial statements and the amount can be reasonably estimated. Significant changes in assumptions as to the likelihood and estimates of the amount of a loss c ould result in recognition of additional liabilities. Critical judgements The following are critical judgements apart from those involving estimation: (i) Determination of a CGU Management’s judgement is required in determining the Company’s cash generat ing units (CGU) for the impairment assessment of its indefinite-life intangible assets. The CGUs have been determined considering operating activities and asset management and are Cable, Satellite, and Wireless. (ii) Broadcast rights and licences and spe ctrum licences – indefinite-life assessment A number of the Company’s businesses are dependent upon broadcast licences (or operate pursuant to an exemption order) granted and issued by the CRTC or wireless spectrum licences issued by the Department of Inno vation, Science and Economic Development (formerly, Industry Canada). While these licences must be renewed from time to time, the Company has never failed to do so. In addition, there are currently no legal, regulatory or competitive factors that limit the useful lives of these assets. |
Adoption Of Recent Accounting Pronouncement | Adoption of recent accounting pronouncement s We adopted the following new accounting standards effective September 1, 2018. • IFRS 15 Revenue from Contracts with Customers , was issued in May 2014 and replaced IAS 11 Construction Contracts , IAS 18 Revenue , IFRIC 13 Customer Loyalty Programs , IFRIC 15 Agreements for the Construction of Real Estate , IFRIC 18 Transfers of Assets from Customers and SIC-31 Revenue—Barter Transact ions Involving Advertising Services . The new standard requires revenue to be recognized in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration expected to be received in exchange for th ose goods or services. The principles are to be applied in the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and, (5) recognize revenue when (or as) the entity satisfies a performance obligation. IFRS 15 also provides guidance relating to th e treatment of contract acquisition and contract fulfillment costs. The application of IFRS 15 impacted the Company’s reported results, including the classification and timing of revenue recognition and the treatment of costs incurred to obtain contracts with customers. The application of this standard most significantly affected our Wireless arrangements that bundle equipment and service together, specifically with regards to the timing of recognition and classification of revenue. The timing of recogni tion and classification of revenue was affected because at contract inception, IFRS 15 requires the estimation of total consideration to be received over the contract term, and the allocation of that consideration to performance obligations in the contract , typically based on the relative stand-alone selling price of each obligation. This resulted in a decrease to equipment revenue recognized at contract inception, as the discount previously recognized over 24 months is now recognized at contract inception , and a decrease to service revenue recognized over the course of the contract, as a portion of the discount previously allocated solely to equipment revenue is allocated to service revenue. The measurement of total revenue recognized over the life of a co ntract was unaffected by the new standard. IFRS 15 also requires that incremental costs to obtain a contract with a customer (for example, commissions) be capitalized and amortized into operating expenses over the life of a contract on a rational, system atic basis consistent with the pattern of the transfer of goods or services to which the asset relates. The Company previously expensed such costs as incurred. The Company’s financial position was also impacted by the adoption of IFRS 15, with new contrac t asset and contract liability categories recognized to reflect differences between the timing of revenue recognition and the actual billing of those goods and services to customers. For purposes of applying the new standard on an ongoing basis, we are r equired to make judgments in respect of the new standard, including judgments in determining whether a promise to deliver goods or services is considered distinct, how to determine the transaction prices and how to allocate those amounts amongst the associ ated performance obligations. We must also exercise judgment as to whether sales-based compensation amounts are costs incurred to obtain contracts with customers that should be capitalized and subsequently amortized on a systematic basis over time. We hav e made a policy choice to adopt IFRS 15 with full retrospective application, subject to certain practical expedients. As a result, all comparative information in these financial statements has been prepared as if IFRS 15 had been in effect since September 1, 2017. The accounting policies set out in note 2 have been applied in preparing the consolidated financial statements as at and for the year ended August 31, 2019, the comparative information presented for the year ended August 31, 2018, and for the cons olidated statements of financial position as at September 1, 2017 and August 31, 2018. Upon adoption of, and transition to, IFRS 15, we elected to utilize the following practical expedients: • Completed contracts that begin and end within the same annual reporting period and those completed before September 1, 2017 are not restated; • Contracts modified prior to September 1, 2017 are not restated. The aggregate effect of these modifications is reflected when identifying the satisfied and unsatisfied perfo rmance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligations; and • Not disclose, on an annual basis, the unsatisfied portions of performance obligations related to cont racts with a duration of one year or less or where the revenue we recognize is equal to the amount invoiced to the customer. Impacts of IFRS 15, Revenue from Contracts with Customers The effect of transition to IFRS 15 on impacted line items on our condensed Consolidated Statements of Income as disclosed in “Transition adjustments” for the year ended August 31, 2018, are as follows: Year ended August 31, 2018 As Effect of Subsequent to (millions of Canadian dollars) reported transition transition Revenue i. 5,239 (50) 5,189 Operating, general and administrative expenses ii. (3,150) 18 (3,132) Other revenue (expense) 29 3 32 Income tax expense (recovery) 143 (12) 131 Net income (loss) from continuing operations 66 (17) 49 i) Allocation of transaction price Revenue recognized at point of sale requires the estimation of total consideration over the contract term and allocation of that consideration to all performance obligations in the contract based on their relative stand-alone selling prices. For Wireless term contracts, equipment revenue recognized at contract inception, as well as service revenue recognized over the course of the contract is lower than previously recognized as noted above. ii) Deferred commission costs Costs incurred to obtain or fulfill a contract with a customer were previously expensed as incurred. Under IFRS 15, these costs are capitalized and subsequently amortized as an expense over the life of the customer on a rational, systemati c basis consistent with the pattern of the transfer of goods and services to which the asset relates. As a result, commission costs are reduced in the period, with an offsetting increase in amortization of capitalized costs over the average life of a custo mer . The effect of transition to IFRS 15 on our disaggregated revenues for the year ended August 31, 2018, are as follows: Year ended August 31, 2018 As Effect of Subsequent to (millions of Canadian dollars) reported transition transition Services Wireline - Consumer 3,725 - 3,725 Wireline - Business 567 - 567 Wireless 595 (31) 564 4,887 (31) 4,856 Equipment and other Wireless 356 (19) 337 356 (19) 337 Intersegment eliminations (4) - (4) Total revenue 5,239 (50) 5,189 The effect of transition to IFRS 15 on impacted line items on our Consolidated Statements of Financial Position as at September 1, 2017 and August 31, 2018 are as follows: As at August 31, 2018 As at September 1, 2017 As Effect Subsequent to As Effect Subsequent to (millions of Canadian dollars) reported of transition transition reported of transition transition Current portion of contract assets i. - 59 59 - 15 15 Other current assets ii. 286 (13) 273 155 24 179 Contract assets i. - 76 76 - 44 44 Other long-term assets ii. 300 (102) 198 255 (39) 216 Accounts payable and accrued liabilities i. 971 (1) 970 913 (4) 909 Unearned revenue i. 221 (221) - 211 (211) - Current portion of contract liabilities i. - 226 226 - 214 214 Deferred credits i. 460 (18) 442 490 (21) 469 Deferred income tax liabilities ii. 1,894 (7) 1,887 1,858 5 1,863 Contract liabilities i. - 18 18 - 21 21 Shareholders' equity 5,957 23 5,980 6,154 40 6,194 i) Contract assets and liabilities Contract assets and liabilities are the result of the difference in timing related to revenue recognized at the beginning of a contract and cash collected. Contract assets arise primarily as a result of the difference between revenue recognized on the sale of wireless device at the onset of a term contract and the cash collected at the point of sale. Contract liabilities are the result of receiving payment related to a customer contract before providing the related goods or services. We account for contract assets and liabilities on a contract-by-contract basis, with each contract being presented as a single net contract asset or net contract liability accordingly. ii) Deferred commission cost asset Under I FRS 15, we will defer commission costs paid to internal and external representatives as a result of obtaining contracts with customers as deferred commission cost assets and amortize them over the pattern of the transfer of goods and services to the custom er, which is typically evenly over 24 to 36 months. Refer to “Transition adjustments” for the impact of application of IFRS 15 on our previously reported consolidated statements of cash flows. IFRS 9 Financial Instruments was revised and issued in July 2014 and replaces IAS 39 Financial Instruments: Recognition and Measurement. IFRS 9 includes updated guidance on the classification and measurement of financial instruments, new guidance on measuring impairment on financial assets, and new hedge accounting guidance. We have applied IFRS 9, and the related consequential amendments to other IFRSs, on a retrospective basis except for the changes to hedge accounting as described below which were applied on a prospective basis. The adoption of IFRS 9 did not hav e a significant impact on our financial performance or the carrying amounts of our financial instruments as set out in “Transition adjustments” below. IFRS 9 replaces the classification and measurement models in IAS 39 with a single model under which fin ancial assets are classified and measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVTPL) and eliminates the IAS 39 categories of held-to-maturity, loans and receivables and available-fo r-sale. Investments and equity instruments are required to be measured by default at FVTPL unless an irrevocable option for each equity instrument is taken to measure at FVOCI. The classification and measurement of financial assets is based on the business model that the asset is managed and its contractual cash flow characteristics. The adoption of IFRS 9 did not change the measurement bases of our financial assets o Cash and derivative instruments classified as held-for-trading and measured at FVTPL under I AS 39 continue to be measured as such under IFRS 9 with an updated classification of FVTPL o Investments in equity securities not quoted in an active market and where fair value cannot be reliably measured that were classified as available-for-sale and recor ded at cost less impairment under IAS 39 are now required to be classified and measured at FVTPL under IFRS 9. There has been no change to the measurement of these assets on transition o Trade and other receivables classified as loans and receivables and mea sured at amortized cost under IAS 39 continue to be measured as such under IFRS 9 with an updated classification of amortized cost For financial liabilities, IFRS 9 retains most of the IAS 39 requirements. We did not choose the option of designating any f inancial liabilities at FVTPL as such, the adoption of IFRS 9 did not impact our accounting policies for financial liabilities as all liabilities continue to be measured at amortized cost. The impairment of financial assets under IFRS 9 is based on an expected credit loss (ECL) model, as opposed to the incurred loss model in IAS 39. IFRS 9 applies to financial assets measured at amortized cost, including contract assets under IFRS 15, and re quires that we consider factors that include historical, current and forward-looking information when measuring the ECL. We use the simplified approach for measuring losses based on the lifetime ECL for trade receivables and contract assets. Amounts consid ered uncollectible are written off and recognized in operating, general and administrative expenses in the Consolidated Statement of Income. This change did not have a significant impact to our receivables. IFRS 9 does not fundamentally change the types o f hedging relationships or the requirements to measure and recognize ineffectiveness; however, it requires us to ensure that the hedge accounting relationships are aligned with our risk management objective and strategy and to apply a more qualitative and forward-looking approach to assess hedge effectiveness. It also requires that amounts related to cash flow hedges of anticipated purchases of non-financial assets settled during the period to be reclassified from accumulated other comprehensive income to t he initial cost of the non-financial asset when it is recognized. Under IAS 39, when an anticipated transaction was subsequently recorded as a non-financial asset, the amounts were reclassified from other comprehensive income (loss). In accordance with IF RS 9’s transition provisions for hedge accounting, the Company has applied the IFRS 9 hedge accounting requirements prospectively from the date of initial application without restatement of prior period comparatives. The Company’s qualifying hedging relati onships in place as at August 31, 2018 also qualified for hedge accounting in accordance with IFRS 9 and were therefore regarded as continuing hedging relationships. As the critical terms of the hedging instruments match those of their corresponding hedged items, all hedging relationships continue to be effective under IFRS 9’s effectiveness assessment requirements. The Company has not designated any hedging relationships under IFRS 9 that would not have met the qualifying hedge accounting criteria under IA S 39. Change in accounting policy Effective September 1, 2018, the Company voluntarily changed its accounting policy related to the treatment of digital cable terminals (“DCTs”) to record them as property, plant and equipment rather than inventory upon acquisition. The Company believes that the change in accounting policy will result in clearer and more relevant financial information as the Company has recently changed its offerings to customers, which has resulted in DCTs being predominantly rented rath er than sold to customers. Previously, inventories included DCTs which were held pending rental or sale to the customer at cost or at a subsidized price. When the subscriber equipment was rented, it was transferred to property, plant and equipment and amor tized over its useful life and then removed from capital and returned to inventory when returned by a customer. Under the new policy, all DCTs will be classified as property, plant and equipment regardless of whether or not they are currently deployed to a customer as the Company believes that this better reflects the economic substance of its operations. This change in accounting policy has been applied retrospectively. Refer to “Transition adjustments” below for the impact of this change of accounting pol icy on previously reported consolidated Statements of Financial Position, consolidated Statements of Income and consolidated Statements of Cash Flows. Transition adjustments Below is the effect of transition to IFRS 15 and adoption of our new accounting policy described above on our consolidated Statements of Income for the year ended August 31, 2018. Year ended August 31, 2018 Change in As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition Revenue 5,239 (50) - 5,189 Operating, general and administrative expenses (3,150) 18 - (3,132) Restructuring costs (446) - - (446) Amortization: Deferred equipment revenue 30 - - 30 Deferred equipment costs (110) - - (110) Property, plant and equipment, intangibles and other (932) - (13) (945) Operating income from continuing operations 631 (32) (13) 586 Amortization of financing costs – long-term debt (3) - - (3) Interest expense (248) - - (248) Equity income of an associate or joint venture (200) - - (200) Other gains 29 3 - 32 Income from continuing operations before income taxes 209 (29) (13) 167 Current income tax expense 137 - - 137 Deferred income tax expense 6 (12) (3) (9) Net income from continuing operations 66 (17) (10) 39 Loss from discontinued operations, net of tax (6) - - (6) Net income 60 (17) (10) 33 Net income from continuing operations attributable to: Equity shareholders 66 (17) (10) 39 Loss from discontinued operations attributable to: Equity shareholders (6) - - (6) Basic earnings (loss) per share Continuing operations 0.11 - - 0.06 Discontinued operations (0.01) - - (0.01) 0.10 - - 0.05 Diluted earnings (loss) per share Continuing operations 0.11 - - 0.06 Discontinued operations (0.01) - - (0.01) 0.10 - - 0.05 Below is the effect of transition to IFRS 15 and adoption of our new accounting policy described above on our consolidated Statement of Financial Position as at September 1, 2017 and August 31, 2018. As at August 31, 2018 As at September 1, 2017 Change in Change in As IFRS 15 accounting Subsequent As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition reported transition policy to transition ASSETS Current Cash 384 - - 384 507 - - 507 Accounts receivable 255 - (2) 253 286 - - 286 Inventories 101 - (40) 61 109 - (50) 59 Other current assets 286 (13) - 273 155 24 - 179 Current portion of contract assets - 59 - 59 - 15 - 15 Assets held for sale - - - - 61 - - 61 1,026 46 (42) 1,030 1,118 39 (50) 1,107 Investments and other assets 660 - - 660 937 - - 937 Property, plant and equipment 4,672 - 30 4,702 4,344 - 50 4,394 Other long-term assets 300 (102) (1) 197 255 (39) - 216 Deferred income tax assets 4 - - 4 4 - - 4 Intangibles 7,482 - - 7,482 7,435 - - 7,435 Goodwill 280 - - 280 280 - - 280 Contract assets - 76 - 76 - 44 - 44 14,424 20 (13) 14,431 14,373 44 - 14,417 LIABILITIES AND SHAREHOLDERS' EQUITY Current Short-term borrowings 40 - - 40 - - - - Accounts payable and accrued liabilities 971 (1) - 970 913 (4) - 909 Provisions 245 - - 245 76 - - 76 Income taxes payable 133 - - 133 151 - - 151 Unearned revenue 221 (221) - - 211 (211) - - Current portion of contract liabilities - 226 - 226 - 214 - 214 Current portion of long-term debt 1 - - 1 2 - - 2 Liabilities held for sale - - - - 39 - - 39 1,611 4 - 1,615 1,392 (1) - 1,391 Long-term debt 4,310 - - 4,310 4,298 - - 4,298 Other long-term liabilities 13 - - 13 114 - - 114 Provisions 179 - - 179 67 - - 67 Deferred credits 460 (18) - 442 490 (21) - 469 Contract liabilities - 18 - 18 - 21 - 21 Deferred income tax liabilities 1,894 (7) (3) 1,884 1,858 5 - 1,863 8,467 (3) (3) 8,461 8,219 4 - 8,223 Shareholders' equity Common and preferred shareholders 5,956 23 (10) 5,969 6,153 40 - 6,193 Non-controlling interests in subsidiaries 1 - - 1 1 - - 1 5,957 23 (10) 5,970 6,154 40 - 6,194 14,424 20 (13) 14,431 14,373 44 - 14,417 Below is the effect of transition to IFRS 15 and adoption of our new accounting policy described above on our consolidated Statement of Cash Flows for the year ended August 31, 2018. Year ended August 31, 2018 Change in As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition OPERATING ACTIVITIES Funds flow from continuing operations 1,259 (82) - 1,177 Net change in non-cash balances related to continuing operations 102 82 (6) 178 Operating activities of discontinued operations (2) - - (2) 1,359 - (6) 1,353 INVESTING ACTIVITIES Additions to property, plant and equipment (1,127) - 6 (1,121) Additions to equipment costs (net) (49) - - (49) Additions to other intangibles (131) - - (131) Proceeds on sale of spectrum licenses 35 - - 35 Purchase of spectrum licenses (25) - - (25) Proceeds on sale of discontinued operations, net of cash sold 18 - - 18 Net additions to investments and other assets 88 - - 88 Proceeds on disposal of property, plant and equipment 9 - - 9 (1,182) - 6 (1,176) FINANCING ACTIVITIES Increase in short-term borrowings 40 - - 40 Increase in long-term debt 10 - - 10 Issue of Class B Non-Voting Shares 43 - - 43 Dividends paid on Class A Shares and Class B Non-Voting Shares (384) - - (384) Dividends paid on Preferred Shares (8) - - (8) Other (1) - - (1) (300) - - (300) Increase (decrease) in cash (123) - - (123) Cash, beginning of the period 507 - - 507 Cash, end of the period 384 - - 384 Standards, interpretations and amendments to standards issued but not yet effective The Company has not yet adopted certain standards and interpretations that have been issued but are not yet effective. The following pronouncements are being assessed to determine the impact on the Company’s results and financial position. IFRS 16 Leases w as issued on January 2016 and replaces IAS 17 Leases . The new standard requires entities to recognize lease assets and lease obligations on the balance sheet. For lessees, IFRS 16 removes the classification of leases as either operating leases or finance l eases, instead requiring that leases be capitalized by recognizing the present value of the lease payments and showing them as lease assets (right-of-use assets) and representing the right to use the underlying leased asset. If lease payments are made over time, the Company would recognize a lease liability representing its obligation to make future lease payments. Certain short-term leases (less than 12 months) and leases of low-value may be exempted from the requirements and may continue to be treated as operating leases if certain elections are made. Lessors will continue with a dual lease classification model. Classification will determine how and when a lessor will recognize lease revenue, and what assets would be recorded. As the Company has signific ant contractual obligations currently being recognized as operating leases, upon adoption of IFRS 16, we will recognize a significant increase to both assets and liabilities on our Consolidated Statements of Financial Position as well as a decrease to oper ating costs, as a result of removing the lease expense, an increase to depreciation and amortization, due to the depreciation of the right-of-use asset, and an increase to finance costs, due to the accretion of the lease liability. Relative to the results of applying the current standard, although actual cash flows will be unaffected, the Company’s statement of cash flows will reflect increases in cash flows from operating activities offset equally by decreases in cash flows from financing activities . We d o not expect significant impacts for contracts in which we are the lessor. Implementation We continue to make progress towards adoption of IFRS 16, including the implementation of a new lease system that enables us to comply with the requirements of the s tandard on a contract-by-contract basis. Changes and enhancements to business processes and systems of internal control are also being completed. We will adopt IFRS 16 on September 1, 2019, using a modified retrospective approach whereby the financial sta tements of prior periods presented are not restated. The cumulative effect of the initial application of the new standard will be recognized at the date of initial application. Generally, right-of-use assets at transition will be measured at an amount equa l to the corresponding lease liabilities, adjusted for any prepaid or accrued rent outstanding. We do not intend to elect the recognition exemptions on short-term leases or low-value leases; however, we may choose to elect these recognition exemptions on a class-by-class basis for new classes and lease-by-lease basis, respectively, in the future. As permitted by IFRS 16, we will apply certain practical expedients to facilitate the initial adoption and ongoing application of IFRS 16 including the following : not separate fixed non-lease components from lease components for certain classes of underlying assets. Each lease component and any associated non-lease components will be accounted for as a single lease component apply a single discount rate to a portfolio of leases with similar characteristics exclude initial direct costs from measuring the right-of-use asset as at September 1, 2019 use hindsight in determining the lease term where the contract contains purchase, extension, or termination options Effect of Transition to IFRS 16 While our testing , data validation and assessment process is ongoing, our preliminary estimated effect of transition to IFRS 16 on our Consolidated Statements of Financial Position as at September 1, 2019 is as follows: Subsequent to As reported as at Estimated effect of transition as at (billions of Canadian dollars) August 31, 2019 IFRS 16 transition September 1, 2019 Current assets 0.3 ** 0.3 Non-current assets 4.9 1.3 6.2 Current liabilities 1.3 0.2 1.5 Non-current liabilities 6.0 1.1 7.1 Shareholders' equity 6.3 ** 6.3 ** Amounts less than $0.1 billion. Upon adoption of the standard on September 1, 2019, actual amounts could differ from these preliminary estimates. IFRIC 23 Uncertainty over Income Tax Treatmaents was issued in 2017 to clarify how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. It is required to be applied for annual periods commencing January 1, 2019, which for the Company will be the annual period commencing September 1, 2019. The Company is currently assessing the impact of this standard on its consolidated financial statements. The Company does not expect this standard to have a material effect on its September 1, 2019 balance sheet. |
Basis of Presentation and Acc_3
Basis of Presentation and Accounting Policies (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of initial application of standards or interpretations [line items] | |
Estimated Useful Lives Of Assets | Asset Estimated useful life Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 years Satellite audio, video and data network equipment and DTH receiving equipment 3-15 years Buildings 15-40 years Data centre infrastructure 3-21 years Data processing 4-10 years Other 4-20 years |
Disaggregation of revenue | 2018 2019 (restated, note 2) $ $ Services Wireline - Consumer 3,707 3,725 Wireline - Business 593 567 Wireless 694 564 4,994 4,856 Equipment and other Wireless 353 337 353 337 Intersegment eliminations (7) (4) Total revenue 5,340 5,189 |
Financial Effect Of Changes In Accounting Policy [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Effect of transition to IFRS 15 and adoption of new accounting policy - Condensed consolidated Statement of Cash Flows | Year ended August 31, 2018 Change in As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition OPERATING ACTIVITIES Funds flow from continuing operations 1,259 (82) - 1,177 Net change in non-cash balances related to continuing operations 102 82 (6) 178 Operating activities of discontinued operations (2) - - (2) 1,359 - (6) 1,353 INVESTING ACTIVITIES Additions to property, plant and equipment (1,127) - 6 (1,121) Additions to equipment costs (net) (49) - - (49) Additions to other intangibles (131) - - (131) Proceeds on sale of spectrum licenses 35 - - 35 Purchase of spectrum licenses (25) - - (25) Proceeds on sale of discontinued operations, net of cash sold 18 - - 18 Net additions to investments and other assets 88 - - 88 Proceeds on disposal of property, plant and equipment 9 - - 9 (1,182) - 6 (1,176) FINANCING ACTIVITIES Increase in short-term borrowings 40 - - 40 Increase in long-term debt 10 - - 10 Issue of Class B Non-Voting Shares 43 - - 43 Dividends paid on Class A Shares and Class B Non-Voting Shares (384) - - (384) Dividends paid on Preferred Shares (8) - - (8) Other (1) - - (1) (300) - - (300) Increase (decrease) in cash (123) - - (123) Cash, beginning of the period 507 - - 507 Cash, end of the period 384 - - 384 |
Comparative Amounts Reported in Consolidated Statements of Income | Year ended August 31, 2018 Change in As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition Revenue 5,239 (50) - 5,189 Operating, general and administrative expenses (3,150) 18 - (3,132) Restructuring costs (446) - - (446) Amortization: Deferred equipment revenue 30 - - 30 Deferred equipment costs (110) - - (110) Property, plant and equipment, intangibles and other (932) - (13) (945) Operating income from continuing operations 631 (32) (13) 586 Amortization of financing costs – long-term debt (3) - - (3) Interest expense (248) - - (248) Equity income of an associate or joint venture (200) - - (200) Other gains 29 3 - 32 Income from continuing operations before income taxes 209 (29) (13) 167 Current income tax expense 137 - - 137 Deferred income tax expense 6 (12) (3) (9) Net income from continuing operations 66 (17) (10) 39 Loss from discontinued operations, net of tax (6) - - (6) Net income 60 (17) (10) 33 Net income from continuing operations attributable to: Equity shareholders 66 (17) (10) 39 Loss from discontinued operations attributable to: Equity shareholders (6) - - (6) Basic earnings (loss) per share Continuing operations 0.11 - - 0.06 Discontinued operations (0.01) - - (0.01) 0.10 - - 0.05 Diluted earnings (loss) per share Continuing operations 0.11 - - 0.06 Discontinued operations (0.01) - - (0.01) 0.10 - - 0.05 |
Comparative Amounts Reported in Consolidated Statements of Financial Position | As at August 31, 2018 As at September 1, 2017 Change in Change in As IFRS 15 accounting Subsequent As IFRS 15 accounting Subsequent (millions of Canadian dollars) reported transition policy to transition reported transition policy to transition ASSETS Current Cash 384 - - 384 507 - - 507 Accounts receivable 255 - (2) 253 286 - - 286 Inventories 101 - (40) 61 109 - (50) 59 Other current assets 286 (13) - 273 155 24 - 179 Current portion of contract assets - 59 - 59 - 15 - 15 Assets held for sale - - - - 61 - - 61 1,026 46 (42) 1,030 1,118 39 (50) 1,107 Investments and other assets 660 - - 660 937 - - 937 Property, plant and equipment 4,672 - 30 4,702 4,344 - 50 4,394 Other long-term assets 300 (102) (1) 197 255 (39) - 216 Deferred income tax assets 4 - - 4 4 - - 4 Intangibles 7,482 - - 7,482 7,435 - - 7,435 Goodwill 280 - - 280 280 - - 280 Contract assets - 76 - 76 - 44 - 44 14,424 20 (13) 14,431 14,373 44 - 14,417 LIABILITIES AND SHAREHOLDERS' EQUITY Current Short-term borrowings 40 - - 40 - - - - Accounts payable and accrued liabilities 971 (1) - 970 913 (4) - 909 Provisions 245 - - 245 76 - - 76 Income taxes payable 133 - - 133 151 - - 151 Unearned revenue 221 (221) - - 211 (211) - - Current portion of contract liabilities - 226 - 226 - 214 - 214 Current portion of long-term debt 1 - - 1 2 - - 2 Liabilities held for sale - - - - 39 - - 39 1,611 4 - 1,615 1,392 (1) - 1,391 Long-term debt 4,310 - - 4,310 4,298 - - 4,298 Other long-term liabilities 13 - - 13 114 - - 114 Provisions 179 - - 179 67 - - 67 Deferred credits 460 (18) - 442 490 (21) - 469 Contract liabilities - 18 - 18 - 21 - 21 Deferred income tax liabilities 1,894 (7) (3) 1,884 1,858 5 - 1,863 8,467 (3) (3) 8,461 8,219 4 - 8,223 Shareholders' equity Common and preferred shareholders 5,956 23 (10) 5,969 6,153 40 - 6,193 Non-controlling interests in subsidiaries 1 - - 1 1 - - 1 5,957 23 (10) 5,970 6,154 40 - 6,194 14,424 20 (13) 14,431 14,373 44 - 14,417 |
IFRS 15 - Revenue from Contracts with Customers [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Comparative Amounts Reported in Consolidated Statements of Income | Year ended August 31, 2018 As Effect of Subsequent to (millions of Canadian dollars) reported transition transition Revenue i. 5,239 (50) 5,189 Operating, general and administrative expenses ii. (3,150) 18 (3,132) Other revenue (expense) 29 3 32 Income tax expense (recovery) 143 (12) 131 Net income (loss) from continuing operations 66 (17) 49 |
Comparative Amounts Reported in Consolidated Statements of Financial Position | As at August 31, 2018 As at September 1, 2017 As Effect Subsequent to As Effect Subsequent to (millions of Canadian dollars) reported of transition transition reported of transition transition Current portion of contract assets i. - 59 59 - 15 15 Other current assets ii. 286 (13) 273 155 24 179 Contract assets i. - 76 76 - 44 44 Other long-term assets ii. 300 (102) 198 255 (39) 216 Accounts payable and accrued liabilities i. 971 (1) 970 913 (4) 909 Unearned revenue i. 221 (221) - 211 (211) - Current portion of contract liabilities i. - 226 226 - 214 214 Deferred credits i. 460 (18) 442 490 (21) 469 Deferred income tax liabilities ii. 1,894 (7) 1,887 1,858 5 1,863 Contract liabilities i. - 18 18 - 21 21 Shareholders' equity 5,957 23 5,980 6,154 40 6,194 |
Disaggregation of revenue | Year ended August 31, 2018 As Effect of Subsequent to (millions of Canadian dollars) reported transition transition Services Wireline - Consumer 3,725 - 3,725 Wireline - Business 567 - 567 Wireless 595 (31) 564 4,887 (31) 4,856 Equipment and other Wireless 356 (19) 337 356 (19) 337 Intersegment eliminations (4) - (4) Total revenue 5,239 (50) 5,189 |
IFRSs 16 [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Comparative Amounts Reported in Consolidated Statements of Financial Position | Subsequent to As reported as at Estimated effect of transition as at (billions of Canadian dollars) August 31, 2019 IFRS 16 transition September 1, 2019 Current assets 0.3 ** 0.3 Non-current assets 4.9 1.3 6.2 Current liabilities 1.3 0.2 1.5 Non-current liabilities 6.0 1.1 7.1 Shareholders' equity 6.3 ** 6.3 ** Amounts less than $0.1 billion. |
Asset Disposition And Asset H_2
Asset Disposition And Asset Held For Sale (Tables) - Shaw Tracking [Member] | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure Of Discontinued Operations [Line Items] | |
Loss from Discontinued Operations | August 31, 2018 Proceeds on disposal, net of transaction costs of $nil 18 Net assets disposed (22) (4) Income taxes 2 Loss on divestiture, net of tax (6) |
Schedule of Assets and Liabilities Disposed | The assets and liabilities disposed of were as follows: $ Accounts receivable 6 Inventories 5 Other current assets 1 Other long-term assets 25 Goodwill 24 61 Accounts payable and accrued liabilities 8 Deferred credits 33 Deferred income tax liabilities (2) 22 |
Reconciliation of Major Classes of Line Items Constituting Income from Discontinued Operations, Net of Tax | Results of Discontinued Operations A reconciliation of the major classes of line items constituting income from discontinued operations, net of tax, as presented in the consolidated statements of income is as follows: August 31, 2018 Revenue 1 Operating, general and administrative expenses - Purchases of goods and services 1 1 Income from discontinued operations before loss on divestiture - Loss on divestiture, net of tax (6) Loss from discontinued operations, net of tax (6) |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Accounts Receivable [Abstract] | |
Schedule of Trade and Other Receivables | 4. ACCOUNTS RECEIVABLE 2018 2019 (restated, note 2) $ $ Subscriber and trade receivables 370 305 Due from related parties (note 29) – – Miscellaneous receivables 15 7 385 312 Less allowance for doubtful accounts (98) (59) 287 253 Included in operating, general and administrative expenses is a provision for doubtful accounts of $40 (2018 - $38). |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Inventories [Abstract] | |
Inventories | 5. INVENTORIES 2018 2019 (restated, note 2) $ $ Wireless devices and accessories 53 40 DTH subscriber equipment 33 21 86 61 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets | 6. OTHER CURRENT ASSETS 2018 2019 (restated, note 2) $ $ Prepaid expenses 108 104 Costs incurred to obtain or fulfill a contract with a customer 59 48 Wireless handset receivables 124 121 291 273 |
Investments And Other Assets (T
Investments And Other Assets (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of joint operations [line items] | |
Schedule of Investments | 7. INVESTMENTS AND OTHER ASSETS 2019 2018 $ $ Publicly traded companies - 615 Investments in private entities 37 45 37 660 |
Loss on Sale of Investments | Carrying amount at August 31, 2018 615 Share of equity at disposition date 46 Share of other comprehensive loss of associate (13) Dividends received to disposition date (10) Carrying value at disposition date 638 Proceeds on disposal, net of transaction costs 526 Reclassification of accumulated gain from other comprehensive income related to the sale of an associate (3) Loss on sale of investment 109 |
Corus [Member] | |
Disclosure of joint operations [line items] | |
Schedule of Interests in Associates | Nine months ended Year ended May 31, 2019 August 31, 2018 Revenue 1,310 1,647 Net income (loss) attributable to: Shareholders 133 (784) Non-controlling interest 19 26 152 (758) Other comprehensive income, attributable to shareholders (40) 25 Comprehensive income (loss) 112 (733) Equity income from associates, excluding goodwill impairment 46 84 Impairment of investment in associate (1) – (284) Equity income (loss) from associates (2) 46 (200) Other comprehensive income from equity accounted associates (2) (13) 10 33 (190) (1) The Company assessed its investment in Corus for indicators of impairment, which included a significant and sustained decrease in the share price as well as the recording by Corus of an impairment charge against their goodwill and broadcast license intangibles, and found that there was evidence that impairment had occurred. The Company compared the recoverable amount to the carrying value and determined that an impairment charge of $284 was required. The recoverable amount was determined based on the value in use of the investment. (2) The Company’s share of income and other comprehensive income reflect the weighted average proportion of Corus net income and other comprehensive income attributable to shareholders for the nine-month period ended May 31, 2019 and year ended August 31, 2018. |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule Of Net Book Value Of Property, Plant And Equipment | 8. PROPERTY, PLANT AND EQUIPMENT August 31, 2019 August 31, 2018 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value $ $ $ $ $ $ Cable and telecommunications distribution system 6,876 3,456 3,420 6,506 3,142 3,364 Digital cable terminals and modems 980 612 368 927 541 386 Satellite audio, video and data network and DTH receiving equipment 116 56 60 111 46 65 Land and buildings 640 265 375 641 238 403 Data centre infrastructure, data processing and other 597 398 199 679 410 269 Assets under construction 461 – 461 215 – 215 9,670 4,787 4,883 9,079 4,377 4,702 |
Changes In Net Carrying Amounts Of Property, Plant And Equipment | Changes in the net carrying amounts of property, plant and equipment for 2019 and 2018 are summarized as follows: August 31, August 31, 2018 2019 Net book value Additions Transfers Amortization Disposals and writedown Divestment Net book value $ $ $ $ $ $ $ Cable and telecommunications distribution system 3,364 306 295 (540) (1) (4) 3,420 Digital cable terminals and modems 386 218 – (236) – – 368 Satellite audio, video and data network and DTH receiving equipment 65 11 – (16) – – 60 Land and buildings 403 2 4 (30) (4) – 375 Data centre infrastructure, data processing and other 269 9 18 (50) (17) (30) 199 Assets under construction 215 563 (317) – – – 461 4,702 1,109 – (872) (22) (34) 4,883 August 31, August 31, 2017 2018 Net book value Additions Transfers Amortization Disposals and writedown Divestment Net book value $ $ $ $ $ $ $ Cable and telecommunications distribution system 3,112 578 208 (524) (10) – 3,364 Digital cable terminals and modems 408 246 – (268) – – 386 Satellite audio, video and data network and DTH receiving equipment 60 19 – (14) – – 65 Land and buildings 428 4 – (29) – – 403 Data centre infrastructure, data processing and other 285 27 11 (54) – – 269 Assets under construction 101 333 (219) – – – 215 4,394 1,207 – (889) (10) – 4,702 In 2019, the Company recognized a gain of $43 (2018 – gain of $1) on the disposal of property, plant and equipment. |
Other Long-Term Assets (Tables)
Other Long-Term Assets (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Other Long Term Assets [Abstract] | |
Schedule Of Other Long-Term Assets | 9. OTHER LONG-TERM ASSETS 2018 2019 (restated, note 2) $ $ Equipment costs subject to a deferred revenue arrangement 93 121 Long-term Wireless handset receivables 45 27 Costs incurred to obtain or fulfill a contract with a customer 35 26 Credit facility arrangement fees 4 4 Other 18 19 195 197 Amortization provided in the accounts for 2019 amounted to $88 (2018 - $112) and was recorded as amortization of deferred equipment costs and other amortization. |
Intangibles And Goodwill (Table
Intangibles And Goodwill (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Intangibles And Goodwill [Abstract] | |
Schedule Of Net book Value Of Intanbible Assets And Goodwill | 10. INTANGIBLES AND GOODWILL 2019 2018 $ $ Broadcast rights and licences Cable systems 4,016 4,016 DTH and satellite services 1,013 1,013 5,029 5,029 Wireless spectrum licences 2,445 1,953 Other intangibles Software 451 434 Customer relationships 54 66 7,979 7,482 Goodwill Cable and telecommunications systems 79 79 Wireless 201 201 280 280 Net book value 8,259 7,762 |
Changes In Carrrying Amount Of Intangibles With Indefinite Useful Lives | Broadcast rights and licences Goodwill Wireless spectrum licences $ $ $ September 1, 2017 5,029 280 1,947 Additions – – 25 Disposition – – (19) August 31, 2018 5,029 280 1,953 Additions – – 492 Disposition – – – August 31, 2019 5,029 280 2,445 |
Intangibles Subject To Amoritzation | Intangibles subject to amortization are as follows: August 31, 2019 August 31, 2018 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 697 257 440 595 183 412 Software under construction 11 – 11 22 – 22 Customer relationships 114 60 54 114 48 66 822 317 505 731 231 500 |
Changes In Carrying Amount Of Intangibles | The changes in the carrying amount of intangibles subject to amortization are as follows: Software Software under construction Customer relationships Total $ $ $ $ September 1, 2017 377 3 79 459 Additions 121 17 – 138 Transfers (2) 2 – – Amortization (84) – (13) (97) August 31, 2018 412 22 66 500 Additions 112 11 – 123 Transfers 22 (22) – – Dispositions (6) – – (6) Amortization (100) – (12) (112) August 31, 2019 440 11 54 505 |
Changes In Market Condidtions Related To Discount Rates And Terminal Value | Terminal value Post-tax discount rate Terminal growth rate Terminal operating income before restructuring costs and amortization multiple Cable 6.5% 1.5% 7.4X Satellite 7.5% -3.0% 5.4X Wireless 9.3% 1.0% 4.5X |
Schedule Of Sensitivity Analysis Of Significant Estimates | A sensitivity analysis of significant estimates is conducted as part of every impairment test. With respect to the impairment tests performed in the second quarter, the estimated decline in recoverable amount for the sensitivity of significant estimates is as follows: Estimated decline in recoverable amount Terminal value 1% increase in discount rate 1% decrease in terminal growth rate 0.5 times decrease in terminal operating income before restructuring costs and amortization multiple Cable 16.4% 14.2% 4.8% Satellite 8.1% 5.6% 5.6% Wireless 15.2% 7.7% 8.0% |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Short-Term Borrowings [Abstract] | |
Summary of Accounts Receivable Securitization | 2019 2018 $ $ Trade accounts receivable sold to buyer as security 434 429 Short-term borrowings from buyer (40) (40) Overcollateralization 394 389 |
Reconciliation of Accounts Receivable Securitization | 2019 2018 $ $ Accounts receivable securitization program, beginning of period 40 – Proceeds received from accounts receivable securitization – 40 Repayment of accounts receivable securitization – – Accounts receivable securitization program, end of period 40 40 |
Accounts Payable And Accrued _2
Accounts Payable And Accrued Liabilities (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Accounts Payable And Accrued Liabilities [Abstract] | |
Schedule Of Accounts Payable And Accrued Liabilities | 12. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 2018 2019 (restated, note 2) $ $ Trade 114 97 Program rights 5 8 Accrued liabilities 482 496 Accrued network fees 155 125 Interest and dividends 244 227 Related parties (note 29) 15 17 1,015 970 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of other provisions [abstract] | |
Schedule Of Provisions | 13. PROVISIONS Asset retirement obligations Restructuring (1)(2) Other Total September 1, 2017 60 7 76 143 Additions 6 446 25 477 Accretion 1 – – 1 Reversal – – (13) (13) Payments – (177) (7) (184) August 31, 2018 67 276 81 424 Additions 10 1 28 39 Accretion 1 – – 1 Reversal (3) – (10) – (10) Payments – (124) (27) (151) August 31, 2019 78 143 82 303 Current – 166 79 245 Long-term 67 110 2 179 August 31, 2018 67 276 81 424 Current – 142 82 224 Long-term 78 1 – 79 August 31, 2019 78 143 82 303 (1) During 2017, the Company restructured certain operations within the Wireline segment and announced a realignment to integrate certain Consumer/Business operations and Freedom Mobile. In fiscal 2019, a total of $3 has been paid (2018 - $5). (2) During the second quarter of fiscal 2018, the Company offered a voluntary departure program to a group of eligible employees and in the second half of 2018 additional changes to its organizational structure as part of a total business transformation initiative. In connection with the restructuring, the Company recorded $446 in 2018 primarily related to severance and employee related costs in respect of the approximate 3,300 affected employees. In fiscal 2019, a total of $121 has been paid (2018 - $172). The remaining costs are expected to be paid within the next 17 months. (3) During the year, certain employees and the Company agreed to rescind earlier elections under the voluntary departure program. |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Long-Term Debt [Abstract] | |
Summary of long-term debt | 14. LONG-TERM DEBT 2019 2018 Effective interest rates Long-term debt at amortized cost (1) Adjustment for finance costs (1) Long-term debt repayable at maturity Long-term debt at amortized cost (1) Adjustment for finance costs (1) Long-term debt repayable at maturity % $ $ $ $ $ $ Corporate Cdn fixed rate senior notes- 5.65% due October 1, 2019 5.69 1,250 - 1,250 1,248 2 1,250 5.50% due December 7, 2020 5.55 499 1 500 499 1 500 3.15% due February 19, 2021 3.17 299 1 300 299 1 300 3.80% due November 2, 2023 3.80 498 2 500 - - - 4.35% due January 31, 2024 4.35 498 2 500 498 2 500 3.80% due March 1, 2027 3.84 298 2 300 298 2 300 4.40% due November 2, 2028 4.40 496 4 500 - - - 6.75% due November 9, 2039 6.89 1,420 30 1,450 1,419 31 1,450 5,258 42 5,300 4,261 39 4,300 Other Burrard Landing Lot 2 Holdings Partnership Various 50 - 50 50 - 50 Total consolidated debt 5,308 42 5,350 4,311 39 4,350 Less current portion 1,251 1 1,252 1 - 1 4,057 41 4,098 4,310 39 4,349 (1) Long-term debt is presented net of unamortized discounts and finance costs. |
Long-term debt repayments | $ 2020 1,251 2021 801 2022 1 2023 501 2024 501 Thereafter 2,295 5,350 |
Interest expense | Interest expense 2019 2018 $ $ Interest expense – long-term debt 280 245 Amortization of senior notes discounts 1 1 Interest income – short-term (net) (29) (6) Interest expense – other 6 8 258 248 |
Other Long-Term Liabilities (Ta
Other Long-Term Liabilities (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Other Long-Term Liabilities [Abstract] | |
Disclosure of other long-term liabilities | 15. OTHER LONG-TERM LIABILITIES 2019 2018 $ $ Pension liabilities (note 28) 69 10 Post retirement liabilities (note 28) 4 3 Other 2 - 75 13 |
Deferred Credits (Tables)
Deferred Credits (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Deferred Credits [Abstract] | |
Disclosure of deferred credits | 16. DEFERRED CREDITS 2018 2019 (restated, note 2) $ $ IRU prepayments 400 411 Equipment revenue 23 29 Deposit on future fibre sale 2 2 425 442 |
Share Capital (Tables)
Share Capital (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Share Capital [Abstract] | |
Disclosure of Capital Stock | Issued and outstanding 2019 2018 2019 2018 Number of securities $ $ 22,372,064 22,420,064 Class A Shares 2 2 494,389,771 484,194,344 Class B Non-Voting Shares 4,310 4,054 10,012,393 10,012,393 Series A Preferred Shares 245 245 1,987,607 1,987,607 Series B Preferred Shares 48 48 528,761,835 518,614,408 4,605 4,349 |
Disclosure of Changes in Share Capital | Class A Shares Class B Non-Voting Shares Number $ Number $ September 1, 2017 22,420,064 2 474,350,861 3,795 Stock option exercises - - 1,854,594 48 Dividend reinvestment plan - - 7,988,889 211 August 31, 2018 22,420,064 2 484,194,344 4,054 Stock option exercises - - 1,658,465 39 Dividend reinvestment plan - - 8,488,962 217 Class A conversion to Class B (48,000) - 48,000 - August 31, 2019 22,372,064 2 494,389,771 4,310 |
Share-Based Compensation And _2
Share-Based Compensation And Awards (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Share-Based Compensation And Awards [Abstract] | |
Stock Options Activity | 2019 2018 Weighted average exercise price Weighted average exercise price Number $ Number $ Outstanding, beginning of year 9,378,966 25.18 10,158,005 24.45 Granted 1,540,000 26.36 2,790,000 27.17 Forfeited (897,470) 26.66 (1,714,445) 26.45 Exercised (1) (1,658,465) 20.76 (1,854,594) 23.05 Outstanding, end of year 8,363,031 26.11 9,378,966 25.18 (1) The weighted average Class B Non-Voting Share price for the options exercised was $26.91. |
Stock Option Range of Exercise Prices | The following table summarizes information about the options outstanding at August 31, 2019: Options outstanding Options exerciseable Range of prices Number outstanding Weighted average remaining contractual life Weighted average exercise price Number exercisable Weighted average exercise price $18.79 - $20.80 309,891 1.12 19.59 309,891 19.59 $20.81 - $24.21 1,235,010 5.40 23.49 842,460 23.37 $24.22 - $26.22 1,086,750 6.67 25.18 620,100 25.08 $26.23 - $27.19 2,906,225 8.10 26.43 692,325 26.49 $27.20 - $30.87 2,825,155 7.14 28.01 1,315,205 28.12 |
Weighted-Average Assumptions | The weighted average estimated fair value at the date of the grant for common share options granted for the year ended August 31, 2019 was $2.07 (2018 - $2.11) per option. The fair value of each option granted was estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted-average assumptions: 2019 2018 Dividend yield 4.50% 4.37% Risk-free interest rate 2.08% 1.88% Expected life of options 7 years 6 years Expected volatility factor of the future expected market price of Class B Non-Voting Shares 16.30% 16.30% Expected volatility has been estimated based on the historical share price volatility of the Company’s Class B Non-Voting Shares. |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Earnings per share [abstract] | |
Disclosure of earnings per share | 19. EARNINGS (LOSS) PER SHARE Earnings (loss) per share calculations are as follows: 2018 2019 (restated, note 2) Numerator for basic and diluted earnings per share ($) Net income from continuing operations 733 39 Deduct: net income attributable to non-controlling interests in subsidiaries (2) - Deduct: dividends on Preferred Shares (9) (8) Net income attributable to common shareholders from continuing operations 722 31 Loss from discontinued operations attributable to common shareholders - (6) Net income attributable to common shareholders 722 25 Denominator (millions of shares) Weighted average number of Class A Shares and Class B Non-Voting Shares for basic earnings per share 511 502 Effect of dilutive securities (1) - 1 Weighted average number of Class A Shares and Class B Non-Voting Shares for diluted earnings per share 511 503 Basic earnings (loss) per share ($) Continuing operations 1.41 0.06 Discontinued operations - (0.01) Attributable to common shareholders 1.41 0.05 Diluted earnings (loss) per share ($) Continuing operations 1.41 0.06 Discontinued operations - (0.01) Attributable to common shareholders 1.41 0.05 (1) The earnings per share calculation does not take into consideration the potential dilutive effect of certain stock options since their impact is anti-dilutive. For the year ended August 31, 2019, 6,126,210 options were excluded from the diluted earnings per share calculation (2018 – 4,263,940). |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of classes of share capital [line items] | |
Floating Quarterly Dividend Rate | Period Annual Dividend Rate June 30, 2016 to September 29, 2016 2.539% September 30, 2016 to December 30, 2016 2.512% December 31, 2016 to March 30, 2017 2.509% March 31, 2017 to June 29, 2017 2.480% June 30, 2017 to September 29, 2017 2.529% September 30, 2017 to December 30, 2017 2.742% December 31, 2017 to March 30, 2018 2.872% March 31, 2018 to June 29, 2018 3.171% June 30, 2018 to September 29, 2018 3.300% September 30, 2018 to December 30, 2018 3.509% December 31, 2018 to March 30, 2019 3.713% March 31, 2019 to June 29, 2019 3.682% June 30, 2019 to September 29, 2019 3.687% September 30, 2019 to December 30, 2019 3.638% |
Dividends Declared | 2019 2018 Class A Voting Share Class B Non-Voting Share Class A Voting Share Class B Non-Voting Share 1.1825 1.1850 1.1825 1.1850 The dividends per share recognized as distributions to preferred shareholders for dividends declared during the year ended August 31, 2018 and 2017 are as follows: 2019 2018 Series A Preferred Share Series B Preferred Share Series A Preferred Share Series B Preferred Share 0.6978 0.9119 0.6978 0.7553 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss [Abstract] | |
Components Of Other Comprehensive Income And The Related Income Tax Effects | 21. OTHER COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE LOSS Components of other comprehensive income and the related income tax effects for 2019 are as follows: Amount Income taxes Net $ $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 3 (1) 2 Adjustment for hedged items recognized in the period (3) 1 (2) Share of other comprehensive income of associates (13) – (13) Reclassification of accumulated loss to income related to the sale of an associate (3) – (3) (16) – (16) Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: (52) 13 (39) (68) 13 (55) Components of other comprehensive income and the related income tax effects for 2018 are as follows: Amount Income taxes Net $ $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 7 (2) 5 Adjustment for hedged items recognized in the period 4 (1) 3 Share of other comprehensive income of associates 10 - 10 21 (3) 18 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans 101 (27) 74 122 (30) 92 |
Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss is comprised of the following: 2019 2018 $ $ Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 1 - Share of other comprehensive income of associates 18 18 Reclassification of accumulated loss to income related to the sale of an associate (18) - Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: (95) (57) (94) (39) |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Revenue [Abstract] | |
Contract assets and liabilities | Contract Contract Assets Liabilities September 1, 2017 59 235 Increase in contract assets from revenue recognized during the period 198 - Contract assets transferred to trade receivables (118) - Contract terminations transferred to trade receivables (4) - Revenue recognized included in contract liabilities at the beginning of the year - (225) Increase in contract liabilities during the period - 234 August 31, 2018 135 244 Increase in contract assets from revenue recognized during the period 179 - Contract assets transferred to trade receivables (145) - Contract terminations transferred to trade receivables (11) - Revenue recognized included in contract liabilities at the beginning of the year - (236) Increase in contract liabilities during the period - 230 August 31, 2019 158 238 |
Schedule of contract assets and liabilities | Contract Contract Assets Liabilities Current 103 226 Long-term 32 18 Balance as at September 1, 2018 135 244 Current 106 223 Long-term 52 15 Balance as at August 31, 2019 158 238 |
Deferred commission costs assets | September 1, 2017 57 Additions to deferred commission cost assets 70 Amortization recognized on deferred commission cost assets (52) August 31, 2018 75 Additions to deferred commission cost assets 85 Amortization recognized on deferred commission cost assets (66) August 31, 2019 94 Current 50 Long-term 25 Balance as at September 1, 2018 75 Current 59 Long-term 35 Balance as at August 31, 2019 94 |
Disaggregation of revenue | 2018 2019 (restated, note 2) $ $ Services Wireline - Consumer 3,707 3,725 Wireline - Business 593 567 Wireless 694 564 4,994 4,856 Equipment and other Wireless 353 337 353 337 Intersegment eliminations (7) (4) Total revenue 5,340 5,189 |
Remaining performance obligations | Within Within 1 year 2 years Total $ $ $ Wireline 2,747 1,211 3,958 Wireless 362 145 507 Total 3,109 1,356 4,465 |
Operating, General And Admini_2
Operating, General And Administrative Expenses And Restructuring Costs (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |
Schedule Of Operating, General And Administrative Expenses, And Restructuring Costs | 2018 2019 (restated, note 2) $ $ Employee salaries and benefits (1) 663 1,158 Purchases of goods and services 2,514 2,420 3,177 3,578 (1) For the year ended August 31, 2019, employee salaries and benefits include a recovery of $9 in employee-related restructuring costs compared to $423 in restructuring costs for the year ended August 31, 2018. |
Other Gains (Losses) (Tables)
Other Gains (Losses) (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Other Gains (Losses) [Abstract] | |
Schedule Of Other Losses | 2018 2019 (restated, note 2) $ $ Gain on disposal of fixed assets and intangibles 32 15 Gain on disposal of non-core business 6 - Gain on disposal of investment 15 - Other (1) (3) 17 50 32 (1) Other gains (losses) generally includes realized and unrealized foreign exchange gains and losses on US dollar denominated current assets and liabilities and the Company’s share of the operations of Burrard Landing Lot 2 Holdings Partnership. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Income Taxes [Abstract] | |
Net Deferred Tax Liability | 2018 2019 (restated, note 2) $ $ Deferred tax assets 4 4 Deferred tax liabilities (1,875) (1,884) Net deferred tax liability (1,871) (1,880) |
Significant Changes Recognized To Deferred Income Tax Assets (Liabilities) | Property, plant and equipment and software assets Broadcast rights, licences, customer relationships, trademark and brands Partnership income Non- capital loss carry- forwards Accrued charges Total $ $ $ $ $ $ Balance at September 1, 2017 (restated, note 2) (265) (1,680) 39 51 (4) (1,859) Recognized in statement of income (22) (53) (10) 17 77 9 Recognized in other comprehensive income - - - - (30) (30) Balance at August 31, 2018 (287) (1,733) 29 68 43 (1,880) Recognized in statement of income (12) 107 (61) 25 (63) (4) Recognized in other comprehensive income - - - - 13 13 Balance at August 31, 2019 (299) (1,626) (32) 93 (7) (1,871) |
Income Tax Expense Differs From Computed Amount Applying Statutory Rates To Income Before Income Taxes | 2018 2019 (restated, note 2) Current statutory income tax rate 26.8% 26.9% Income tax expense at current statutory rates 228 45 Net increase (decrease) in taxes resulting from: Effect of tax rate changes (102) 28 Equity (income) loss of an associate not recognized (12) 54 Other 4 1 Income tax expense 118 128 |
Components Of Income Tax Expense | 2018 2019 (restated, note 2) $ $ Current income tax expense 114 137 Deferred tax expense (recovery) related to temporary differences 106 (37) Deferred tax expense (recovery) from tax rate changes (102) 28 Income tax expense 118 128 |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Business Segment Information [Abstract] | |
Information On Operations By Segment | 2018 2019 (restated, note 2) $ $ Revenue Wireline 4,300 4,292 Wireless 1,047 901 5,347 5,193 Intersegment eliminations (7) (4) 5,340 5,189 Operating income before restructuring costs and amortization Wireline 1,955 1,915 Wireless 199 142 2,154 2,057 Restructuring costs (1) 9 (446) Amortization (1) (1,038) (1,025) Operating income 1,125 586 Interest (1) Operating 256 247 Other/non-operating 2 1 258 248 Current taxes (1) Operating 114 166 Other/non-operating - (29) 114 137 (1) The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Capital Expenditures | 2018 2019 (restated, note 2) $ $ Capital expenditures accrual basis Wireline 784 965 Wireless 385 343 1,169 1,308 Equipment costs (net of revenue) Wireline 43 53 Capital expenditures and equipment costs (net) Wireline 827 1,018 Wireless 385 343 1,212 1,361 Reconciliation to Consolidated Statements of Cash Flows Additions to property, plant and equipment 1,109 1,121 Additions to equipment costs (net) 42 49 Additions to other intangibles 147 131 Total of capital expenditures and equipment costs (net) per Consolidated Statements of Cash Flows 1,298 1,301 Increase (decrease) in working capital and other liabilities related to capital expenditures (28) 65 Decrease in customer equipment financing receivables 1 4 Less: Proceeds on disposal of property, plant and equipment (59) (9) Total capital expenditures and equipment costs (net) reported by segments 1,212 1,361 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Long-Term Operating Commitments | $ 2020 681 2021 - 2024 859 Thereafter 362 1,902 Comprised of: $ Lease of transmission facilities and premises 474 Lease and maintenance of transponders 445 Purchase obligations 983 1,902 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Employee Benefit Plans [Abstract] | |
Accrued Benefit Liabilities Recognized | 2019 2018 Non-registered plans Accrued benefit obligation 505 446 Fair value of plan assets 436 436 Accrued benefit liabilities and deficit 69 10 |
Change In Benefit Obligation And Funding Status And The Fair Value Of Plan Assets | 2019 2018 SERP ERP Total SERP ERP Total $ $ $ $ $ $ Accrued benefit obligation, beginning of year 429 17 446 518 14 532 Current service cost 5 6 11 6 8 14 Interest cost 16 1 17 17 1 18 Payment of benefits to employees (17) (1) (18) (18) (7) (25) Transfer from DC plan - 1 1 - 3 3 Remeasurements: Effect of changes in demographic assumptions (4) - (4) (5) - (5) Effect of changes in financial assumptions 53 3 56 - - - Effect of experience adjustments (1) (4) - (4) (89) (2) (91) Accrued benefit obligation, end of year 478 27 505 429 17 446 Fair value of plan assets, beginning of year 421 15 436 420 13 433 Employer contributions - 5 5 - 5 5 Interest income 15 1 16 15 1 16 Transfer from DC plan - 1 1 - 3 3 Payment of benefits (17) (2) (19) (18) (7) (25) Return on plan assets, excluding interest income (2) (1) (3) 4 - 4 Fair value of plan assets, end of year 417 19 436 421 15 436 Accrued benefit liability and plan deficit, end of year 61 8 69 8 2 10 (1 ) In the second quarter of fiscal 2018, a remeasurement related to the effect of experience adjustments of $ 85 was recognized to reflect the decrease in the accrued benefit obligation due to demographic experience in the quarter. |
Disclosure of fair value of plan assets | SERP ERP Cash and cash equivalents 206 14 Fixed income securities 72 2 Equity securities – Canadian 43 1 Equity securities – Foreign 96 2 417 19 |
Significant Weighted-Average Assumptions Used And Cost For The Plans | 2019 2019 2018 2018 SERP ERP SERP ERP Accrued benefit obligation % % % % Discount rate 2.90 2.90 3.70 3.70 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 2019 2019 2018 2018 SERP ERP SERP ERP Benefit cost for the year % % % % Discount rate 3.70 3.70 3.70 3.70 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 (1) Applies only to incentive compensation component of eligible pensionable earnings. |
Net Pension Benefit Plan Expense | 2019 2018 SERP ERP Total SERP ERP Total Current service cost 5 6 11 6 8 14 Interest cost 16 1 17 17 1 18 Interest income (15) (1) (16) (15) (1) (16) Pension expense 6 6 12 8 8 16 |
Change In Accrued Post-Retirement Obligation | 2019 2018 Accrued benefit obligation and plan deficit, beginning of year 3 4 Current service cost - - Interest cost - - Payment of benefits to employees - - Remeasurements: Effect of changes in demographic assumptions 1 (1) Accrued benefit obligation and plan deficit, end of year 4 3 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of transactions between related parties [abstract] | |
Schedule Of Significant Subsidiaries | Ownership Interest August 31, August 31, 2019 2018 Shaw Cablesystems Limited 100% 100% Shaw Cablesystems G.P. 100% 100% Shaw Cablesystems (VCI) Ltd. 100% 100% Shaw Envision Inc. 100% 100% Shaw Telecom Inc. 100% 100% Shaw Telecom G.P. 100% 100% Shaw Satellite Services Inc. 100% 100% Star Choice Television Network Incorporated 100% 100% Shaw Satellite G.P. 100% 100% Freedom Mobile Inc. 100% 100% |
Schedule Of Compensation Expense Of Key Management Personnel And Board Of Directors | 2019 2018 $ $ Short-term employee benefits 29 25 Post-employment pension benefits 9 8 Termination benefits - 7 Share-based compensation 2 4 40 44 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Disclosure of detailed information about financial instruments [abstract] | |
Carrying Values And Estimated Fair Values | August 31, 2019 August 31, 2018 Carrying value Estimated fair value Carrying value Estimated fair value Assets Investment in publicly traded company (1) - - 615 298 Liabilities Long-term debt (including current portion) (2) 5,308 6,014 4,311 4,788 (1) Level 1 fair value – determined by quoted market prices. (2) Level 2 fair value – determined by valuation techniques using inputs based on observable market data, either directly or indirectly, other than quoted prices. |
Undiscounted Contractual Maturities | Short-term borrowings Accounts payable and accrued liabilities (1) Other Long-Term Liabilities Long-term debt repayable at maturity Interest payments Within one year 40 1,015 - 1,251 217 1 to 3 years - - 1 802 360 3 to 5 years - - 1 1,002 320 Over 5 years - - 1 2,295 1,608 40 1,015 3 5,350 2,505 (1) Includes accrued interest and dividends of $ 244 . |
Consolidated Statements Of Ca_3
Consolidated Statements Of Cash Flows (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Statement of cash flows [abstract] | |
Schedule Of Funds Flows From Continuing Operations | 2018 2019 (restated, note 2) $ $ Net income from continuing operations 733 39 Adjustments to reconcile net income to funds flow from operations: Amortization 1,041 1,028 Deferred income tax expense (recovery) 4 (9) Share-based compensation 3 3 Defined benefit pension plans 7 11 Equity (income)/ loss of an associate or joint venture (46) 200 Loss on disposal of an associate or joint venture 109 - Gain on disposal of investments (15) - Net change in contract asset balances (23) (76) Gain on disposal of fixed asets and intangibles (32) (15) Other (4) (4) Funds flow from continuing operations 1,777 1,177 |
Schedule Of Interest And Income Taxes Paid And Interest Received | 2019 2018 $ $ Interest paid 230 239 Income taxes paid (net of refunds) 166 155 Interest received 29 4 |
Schedule Of Non-Cash Transactions | 2019 2018 $ $ Issuance of Class B Non-Voting Shares: Dividend reinvestment plan (note 20) 217 211 |
Capital Structure Management (T
Capital Structure Management (Tables) | 12 Months Ended |
Aug. 31, 2019 | |
Capital Structure Management [Abstract] | |
Schedule Of Capital Structure Management | 2018 2019 (restated, note 2) $ $ Cash (1,446) (384) Short-term borrowings 40 40 Long-term debt repayable at maturity 5,350 4,350 Share capital 4,605 4,349 Contributed surplus 26 27 Retained earnings 1,745 1,632 10,320 10,014 |
Basis of Presentation and Acc_4
Basis of Presentation and Accounting Policies (Narrative) (Details) $ in Millions | 12 Months Ended | |
Aug. 31, 2019CAD ($) | Aug. 31, 2018CAD ($) | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Discount amortisation period | 2 years | |
Capitalisation rate of borrowing costs eligible for capitalisation | 5.00% | 6.00% |
Inventory period | 3 years | |
Net foreign exchange gain/(loss) recognized on the translation and settlement of current monetary assets and liabilities | $ 5 | $ 1 |
Straight-line life | 3 years | |
Revenue | $ 5,340 | 5,189 |
IFRSs 15 [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | $ 5,189 | |
Burrard Landing Lot 2 Holdings Partnership [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Proportion of ownership interest | 33.33% | |
Corus [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Proportion of ownership interest in associate | 38.00% | |
Shomi [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Proportion of ownership interest | 50.00% | |
Employee Share Purchase Plan [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Share based payment arrangement maximum employee subscription rate | 5.00% | |
Share based payment arrangement employee matching contribution, percent of match | 25.00% | |
Employee continuous service period required for employer to contribute 33% | 10 years | |
Wireless Service [Member] | IFRSs 15 [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | $ 7 | |
Minimum [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 4 | |
Minimum [Member] | Software [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 3 | |
Minimum [Member] | Initial Setup Fees [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Period for recognition of revenue | 2 years | |
Maximum [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 15 | |
Maximum [Member] | Employee Share Purchase Plan [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Share based payment arrangement employee matching contribution, percent of match | 33.00% | |
Maximum [Member] | Software [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 10 | |
Maximum [Member] | Initial Setup Fees [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Period for recognition of revenue | 10 years |
Basis of Presentation and Acc_5
Basis of Presentation and Accounting Policies (Estimated Useful Lives of Assets) (Details) | 12 Months Ended |
Aug. 31, 2019 | |
Cable, Wireless And Telecommunications Distribution System [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Cable, Wireless And Telecommunications Distribution System [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 20 years |
Digital Cable Terminals And Modems [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Digital Cable Terminals And Modems [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 5 years |
Satellite Audio, Video And Data Network Equipment And Dth Receiving Equipment [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Satellite Audio, Video And Data Network Equipment And Dth Receiving Equipment [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 15 years |
Buildings [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 15 years |
Buildings [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 40 years |
Data Centre Infrastructure [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Data Centre Infrastructure [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 21 years |
Data Processing [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 4 years |
Data Processing [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 10 years |
Other Property, Plant And Equipment [Member] | Minimum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 4 years |
Other Property, Plant And Equipment [Member] | Maximum [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property, plant and equipment | 20 years |
Basis of Presentation and Acc_6
Basis of Presentation and Accounting Policies (Impacts of IFRS 15, Revenue from Contracts with Customers - Condensed consolidated Statements of Income) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | $ 5,340 | $ 5,189 |
Operating, general and administrative expenses | (3,186) | (3,132) |
Other revenue (expense) | 50 | 32 |
Income tax expense (recovery) | 118 | 128 |
Net income (loss) from continuing operations | $ 733 | 39 |
IFRSs 15 [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | 5,189 | |
Operating, general and administrative expenses | (3,132) | |
Other revenue (expense) | 32 | |
Income tax expense (recovery) | 131 | |
Net income (loss) from continuing operations | 49 | |
As reported [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | 5,239 | |
Operating, general and administrative expenses | (3,150) | |
Other revenue (expense) | 29 | |
Income tax expense (recovery) | 143 | |
Net income (loss) from continuing operations | 66 | |
Estimated Effect of Transaction [Member] | Financial Effect Of Changes In Accounting Policy [Member] | IFRSs 15 [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Revenue | (50) | |
Operating, general and administrative expenses | (18) | |
Other revenue (expense) | 3 | |
Income tax expense (recovery) | (12) | |
Net income (loss) from continuing operations | $ (17) |
Basis of Presentation and Acc_7
Basis of Presentation and Accounting Policies (Impacts of IFRS 15, Revenue from Contracts with Customers - Disaggregation of revenue) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | $ 5,340 | $ 5,189 |
IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 5,189 | |
As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 5,239 | |
Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (50) | |
Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (50) | |
Wireless Service [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 7 | |
Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 5,347 | 5,193 |
Operating Segments [Member] | Wireless Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 4,856 | |
Operating Segments [Member] | Wireless Service [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 4,887 | |
Operating Segments [Member] | Wireless Service [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (31) | |
Operating Segments [Member] | Wireless Equipment [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 337 | |
Operating Segments [Member] | Wireless Equipment [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 356 | |
Operating Segments [Member] | Wireless Equipment [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (19) | |
Intersegment Eliminations [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (7) | (4) |
Intersegment Eliminations [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (4) | |
Intersegment Eliminations [Member] | Financial Effect Of Changes In Accounting Policy [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 0 | |
Wireless [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 1,047 | 901 |
Wireless [Member] | Operating Segments [Member] | Wireless Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 564 | |
Wireless [Member] | Operating Segments [Member] | Wireless Service [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 595 | |
Wireless [Member] | Operating Segments [Member] | Wireless Service [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (31) | |
Wireless [Member] | Operating Segments [Member] | Wireless Equipment [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 337 | |
Wireless [Member] | Operating Segments [Member] | Wireless Equipment [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 356 | |
Wireless [Member] | Operating Segments [Member] | Wireless Equipment [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | (19) | |
Wireline [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | $ 4,300 | 4,292 |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Consumer [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 3,725 | |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Consumer [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 3,725 | |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Consumer [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 0 | |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Business [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 567 | |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Business [Member] | As reported [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | 567 | |
Wireline [Member] | Operating Segments [Member] | Wireless Service [Member] | Business [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | IFRSs 15 [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Total revenue | $ 0 |
Basis of Presentation and Acc_8
Basis of Presentation and Accounting Policies (Impacts of IFRS 15, Revenue from Contracts with Customers - Condensed consolidated Statements of Financial Position) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Current portion of contract assets | $ 106 | $ 103 | $ 31 | |
Other current assets | 291 | 273 | 179 | |
Contract assets | 52 | 32 | 28 | |
Other long-term assets | 195 | 197 | 216 | |
Accounts payable and accrued liabilities | 1,015 | [1] | 970 | 909 |
Current portion of contract liabilities | 223 | 226 | 214 | |
Deferred credits | 425 | 442 | 469 | |
Deferred income tax liabilities | 1,875 | 1,884 | 1,863 | |
Contract liabilities | 15 | 18 | 21 | |
Shareholders' equity | 6,285 | 5,970 | 6,194 | |
As reported [Member] | ||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Current portion of contract assets | 0 | 0 | ||
Other current assets | 286 | 155 | ||
Contract assets | 0 | 0 | ||
Other long-term assets | 300 | 255 | ||
Accounts payable and accrued liabilities | 971 | 913 | ||
Unearned revenue | 221 | 211 | ||
Current portion of contract liabilities | 0 | 0 | ||
Deferred credits | 460 | 490 | ||
Deferred income tax liabilities | 1,894 | 1,858 | ||
Contract liabilities | 0 | 0 | ||
Shareholders' equity | 5,957 | 6,154 | ||
Financial Effect Of Changes In Accounting Policy [Member] | ||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Shareholders' equity | $ 6,300 | |||
Increase Decrease Due To Application Of IFRS 15 [Member] | ||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Current portion of contract assets | 59 | 15 | ||
Other current assets | (13) | 24 | ||
Contract assets | 76 | 44 | ||
Other long-term assets | (102) | (39) | ||
Accounts payable and accrued liabilities | (1) | (4) | ||
Current portion of contract liabilities | 226 | 214 | ||
Deferred credits | (18) | (21) | ||
Deferred income tax liabilities | (7) | 5 | ||
Contract liabilities | 18 | 21 | ||
Shareholders' equity | 23 | 40 | ||
IFRSs 15 [Member] | ||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Current portion of contract assets | 59 | 15 | ||
Other current assets | 273 | 179 | ||
Contract assets | 76 | 44 | ||
Other long-term assets | 198 | 216 | ||
Accounts payable and accrued liabilities | 970 | 909 | ||
Unearned revenue | 0 | 0 | ||
Current portion of contract liabilities | 226 | 214 | ||
Deferred credits | 442 | 469 | ||
Deferred income tax liabilities | 1,887 | 1,863 | ||
Contract liabilities | 18 | 21 | ||
Shareholders' equity | 5,980 | 6,194 | ||
Estimated Effect of Transaction [Member] | IFRSs 15 [Member] | ||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||||
Current portion of contract assets | 59 | 15 | ||
Other current assets | (13) | 24 | ||
Contract assets | 76 | 44 | ||
Other long-term assets | (102) | (39) | ||
Accounts payable and accrued liabilities | (1) | (4) | ||
Unearned revenue | (221) | (211) | ||
Current portion of contract liabilities | 226 | 214 | ||
Deferred credits | (18) | (21) | ||
Deferred income tax liabilities | (7) | 5 | ||
Contract liabilities | 18 | 21 | ||
Shareholders' equity | $ 23 | $ 40 | ||
[1] | Includes accrued interest and dividends of $ 244 . |
Basis of Presentation and Acc_9
Basis of Presentation and Accounting Policies (Transition adjustments - Condensed consolidated Statements of Income) (Details) - CAD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Disclosure of initial application of standards or interpretations [line items] | |||
Revenue | $ 5,340 | $ 5,189 | |
Operating, general and administrative expenses | (3,186) | (3,132) | |
Restructuring costs | [1] | 9 | (446) |
Amortization: | |||
Deferred equipment revenue | 21 | 30 | |
Deferred equipment costs | (85) | (110) | |
Property, plant and equipment, intangibles and other | (974) | (945) | |
Operating income from continuing operations | 1,125 | 586 | |
Amortization of financing costs - long-term debt | (3) | (3) | |
Interest expense | [1] | (258) | (248) |
Equity income of an associate or joint venture | 46 | (200) | |
Other gains (losses) | 50 | 32 | |
Income from continuing operations before income taxes | 851 | 167 | |
Income tax expense (recovery) | [1] | 114 | 137 |
Deferred income tax expense | 4 | (9) | |
Net income from continuing operations | 733 | 39 | |
Income (loss) from discontinued operations, net of tax | 0 | (6) | |
Net income | 733 | 33 | |
Net income from continuing operations attributable to: | |||
Equity shareholders | 731 | 39 | |
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ 0 | $ (6) | |
Basic earnings (loss) per share | |||
Continuing operations | $ 1.41 | $ 0.06 | |
Discontinued operations | 0 | (0.01) | |
Basic earnings (loss) per share | 1.41 | 0.05 | |
Diluted earnings (loss) per share | |||
Continuing operations | 1.41 | 0.06 | |
Discontinued operations | 0 | (0.01) | |
Diluted earnings (loss) per share | $ 1.41 | $ 0.05 | |
As reported [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Revenue | $ 5,239 | ||
Operating, general and administrative expenses | (3,150) | ||
Restructuring costs | (446) | ||
Amortization: | |||
Deferred equipment revenue | 30 | ||
Deferred equipment costs | (110) | ||
Property, plant and equipment, intangibles and other | (932) | ||
Operating income from continuing operations | 631 | ||
Amortization of financing costs - long-term debt | (3) | ||
Interest expense | (248) | ||
Equity income of an associate or joint venture | (200) | ||
Other gains (losses) | 29 | ||
Income from continuing operations before income taxes | 209 | ||
Income tax expense (recovery) | 137 | ||
Deferred income tax expense | 6 | ||
Net income from continuing operations | 66 | ||
Income (loss) from discontinued operations, net of tax | (6) | ||
Net income | 60 | ||
Net income from continuing operations attributable to: | |||
Equity shareholders | 66 | ||
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ (6) | ||
Basic earnings (loss) per share | |||
Continuing operations | $ 0.11 | ||
Discontinued operations | (0.01) | ||
Basic earnings (loss) per share | 0.1 | ||
Diluted earnings (loss) per share | |||
Continuing operations | 0.11 | ||
Discontinued operations | (0.01) | ||
Diluted earnings (loss) per share | $ 0.1 | ||
IFRS 15 transition [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Revenue | $ (50) | ||
Operating, general and administrative expenses | 18 | ||
Restructuring costs | 0 | ||
Amortization: | |||
Deferred equipment revenue | 0 | ||
Deferred equipment costs | 0 | ||
Property, plant and equipment, intangibles and other | 0 | ||
Operating income from continuing operations | (32) | ||
Amortization of financing costs - long-term debt | 0 | ||
Interest expense | 0 | ||
Equity income of an associate or joint venture | 0 | ||
Other gains (losses) | 3 | ||
Income from continuing operations before income taxes | (29) | ||
Income tax expense (recovery) | 0 | ||
Deferred income tax expense | (12) | ||
Net income from continuing operations | (17) | ||
Income (loss) from discontinued operations, net of tax | 0 | ||
Net income | (17) | ||
Net income from continuing operations attributable to: | |||
Equity shareholders | (17) | ||
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ 0 | ||
Basic earnings (loss) per share | |||
Continuing operations | $ 0 | ||
Discontinued operations | 0 | ||
Basic earnings (loss) per share | 0 | ||
Diluted earnings (loss) per share | |||
Continuing operations | 0 | ||
Discontinued operations | 0 | ||
Diluted earnings (loss) per share | $ 0 | ||
Change in accounting policy [member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Revenue | $ 0 | ||
Operating, general and administrative expenses | 0 | ||
Restructuring costs | 0 | ||
Amortization: | |||
Deferred equipment revenue | 0 | ||
Deferred equipment costs | 0 | ||
Property, plant and equipment, intangibles and other | (13) | ||
Operating income from continuing operations | (13) | ||
Amortization of financing costs - long-term debt | 0 | ||
Interest expense | 0 | ||
Equity income of an associate or joint venture | 0 | ||
Other gains (losses) | 0 | ||
Income from continuing operations before income taxes | (13) | ||
Income tax expense (recovery) | 0 | ||
Deferred income tax expense | (3) | ||
Net income from continuing operations | (10) | ||
Income (loss) from discontinued operations, net of tax | 0 | ||
Net income | (10) | ||
Net income from continuing operations attributable to: | |||
Equity shareholders | (10) | ||
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ 0 | ||
Basic earnings (loss) per share | |||
Continuing operations | $ 0 | ||
Discontinued operations | 0 | ||
Basic earnings (loss) per share | 0 | ||
Diluted earnings (loss) per share | |||
Continuing operations | 0 | ||
Discontinued operations | 0 | ||
Diluted earnings (loss) per share | $ 0 | ||
Subsequent to transition [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Revenue | $ 5,189 | ||
Operating, general and administrative expenses | (3,132) | ||
Restructuring costs | (446) | ||
Amortization: | |||
Deferred equipment revenue | 30 | ||
Deferred equipment costs | (110) | ||
Property, plant and equipment, intangibles and other | (945) | ||
Operating income from continuing operations | 586 | ||
Amortization of financing costs - long-term debt | (3) | ||
Interest expense | (248) | ||
Equity income of an associate or joint venture | (200) | ||
Other gains (losses) | 32 | ||
Income from continuing operations before income taxes | 167 | ||
Income tax expense (recovery) | 137 | ||
Deferred income tax expense | (9) | ||
Net income from continuing operations | 39 | ||
Income (loss) from discontinued operations, net of tax | (6) | ||
Net income | 33 | ||
Net income from continuing operations attributable to: | |||
Equity shareholders | 39 | ||
Loss from discontinued operations attributable to: | |||
Equity shareholders | $ (6) | ||
Basic earnings (loss) per share | |||
Continuing operations | $ 0.06 | ||
Discontinued operations | (0.01) | ||
Basic earnings (loss) per share | 0.05 | ||
Diluted earnings (loss) per share | |||
Continuing operations | 0.06 | ||
Discontinued operations | (0.01) | ||
Diluted earnings (loss) per share | $ 0.05 | ||
[1] | The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Basis of Presentation and Ac_10
Basis of Presentation and Accounting Policies (Transition adjustments - Condensed consolidated Statements of Financial Position) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | |
Current | ||||
Cash | $ 1,446 | $ 384 | $ 507 | |
Accounts receivable | 287 | 253 | 286 | |
Inventories | 86 | 61 | 59 | |
Other current assets | 291 | 273 | 179 | |
Current portion of contract assets | 106 | 103 | 31 | |
Assets held for sale | 0 | 0 | 61 | |
Total current assets | 2,216 | 1,074 | 1,123 | |
Investments and other assets | 37 | 660 | 937 | |
Property, plant and equipment | 4,883 | 4,702 | 4,394 | |
Other long-term assets | 195 | 197 | 216 | |
Deferred tax assets | 4 | 4 | 4 | |
Intangibles | 7,979 | 7,482 | 7,435 | |
Goodwill | 280 | 280 | 280 | |
Contract assets | 52 | 32 | 28 | |
Total assets | 15,646 | 14,431 | 14,417 | |
Current | ||||
Short-term borrowings | 40 | 40 | 0 | |
Accounts payable and accrued liabilities | 1,015 | [1] | 970 | 909 |
Provisions (note 13) | 224 | 245 | 76 | |
Income taxes payable | 82 | 133 | 151 | |
Current portion of contract liabilities | 223 | 226 | 214 | |
Current portion of non-current borrowings | 1,251 | 1 | 2 | |
Liabilities held for sale | 0 | 0 | 39 | |
Total current liabilities | 2,835 | 1,615 | 1,391 | |
Long-term debt | 4,057 | 4,310 | 4,298 | |
Other long-term liabilities | 75 | 13 | 114 | |
Provisions (note 13) | 79 | 179 | 67 | |
Deferred credits | 425 | 442 | 469 | |
Contract liabilities | 15 | 18 | 21 | |
Deferred income tax liabilities | 1,875 | 1,884 | 1,863 | |
Total liabilities | 9,361 | 8,461 | 8,223 | |
Shareholders' equity | ||||
Common and preferred shareholders | 6,282 | 5,969 | 6,193 | |
Non-controlling interests in subsidiaries | 3 | 1 | 1 | |
Total shareholders' equity | 6,285 | 5,970 | 6,194 | |
Total liabilities and shareholders' equity | 15,646 | 14,431 | 14,417 | |
As reported [Member] | ||||
Current | ||||
Cash | 384 | 507 | ||
Accounts receivable | 255 | 286 | ||
Inventories | 101 | 109 | ||
Other current assets | 286 | 155 | ||
Current portion of contract assets | 0 | 0 | ||
Assets held for sale | 0 | 61 | ||
Total current assets | 1,026 | 1,118 | ||
Investments and other assets | 660 | 937 | ||
Property, plant and equipment | 4,672 | 4,344 | ||
Other long-term assets | 300 | 255 | ||
Deferred tax assets | 4 | 4 | ||
Intangibles | 7,482 | 7,435 | ||
Goodwill | 280 | 280 | ||
Contract assets | 0 | 0 | ||
Total assets | 14,424 | 14,373 | ||
Current | ||||
Short-term borrowings | 40 | 0 | ||
Accounts payable and accrued liabilities | 971 | 913 | ||
Provisions (note 13) | 245 | 76 | ||
Income taxes payable | 133 | 151 | ||
Unearned revenue | 221 | 211 | ||
Current portion of contract liabilities | 0 | 0 | ||
Current portion of non-current borrowings | 1 | 2 | ||
Liabilities held for sale | 0 | 39 | ||
Total current liabilities | 1,611 | 1,392 | ||
Long-term debt | 4,310 | 4,298 | ||
Other long-term liabilities | 13 | 114 | ||
Provisions (note 13) | 179 | 67 | ||
Deferred credits | 460 | 490 | ||
Contract liabilities | 0 | 0 | ||
Deferred income tax liabilities | 1,894 | 1,858 | ||
Total liabilities | 8,467 | 8,219 | ||
Shareholders' equity | ||||
Common and preferred shareholders | 5,956 | 6,153 | ||
Non-controlling interests in subsidiaries | 1 | 1 | ||
Total shareholders' equity | 5,957 | 6,154 | ||
Total liabilities and shareholders' equity | 14,424 | 14,373 | ||
Financial Effect Of Changes In Accounting Policy [Member] | ||||
Current | ||||
Total current assets | 300 | |||
Current | ||||
Total current liabilities | 1,300 | |||
Shareholders' equity | ||||
Total shareholders' equity | $ 6,300 | |||
IFRS 15 transition [Member] | ||||
Current | ||||
Cash | 0 | 0 | ||
Accounts receivable | 0 | 0 | ||
Inventories | 0 | 0 | ||
Other current assets | (13) | 24 | ||
Current portion of contract assets | 59 | 15 | ||
Assets held for sale | 0 | 0 | ||
Total current assets | 46 | 39 | ||
Investments and other assets | 0 | 0 | ||
Property, plant and equipment | 0 | 0 | ||
Other long-term assets | (102) | (39) | ||
Deferred tax assets | 0 | 0 | ||
Intangibles | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Contract assets | 76 | 44 | ||
Total assets | 20 | 44 | ||
Current | ||||
Short-term borrowings | 0 | 0 | ||
Accounts payable and accrued liabilities | (1) | (4) | ||
Provisions (note 13) | 0 | 0 | ||
Income taxes payable | 0 | 0 | ||
Unearned revenue | (221) | (211) | ||
Current portion of contract liabilities | 226 | 214 | ||
Current portion of non-current borrowings | 0 | 0 | ||
Liabilities held for sale | 0 | 0 | ||
Total current liabilities | 4 | (1) | ||
Long-term debt | 0 | 0 | ||
Other long-term liabilities | 0 | 0 | ||
Provisions (note 13) | 0 | 0 | ||
Deferred credits | (18) | (21) | ||
Contract liabilities | 18 | 21 | ||
Deferred income tax liabilities | (7) | 5 | ||
Total liabilities | (3) | 4 | ||
Shareholders' equity | ||||
Common and preferred shareholders | 23 | 40 | ||
Non-controlling interests in subsidiaries | 0 | 0 | ||
Total shareholders' equity | 23 | 40 | ||
Total liabilities and shareholders' equity | 20 | 44 | ||
Change in accounting policy [member] | ||||
Current | ||||
Cash | 0 | 0 | ||
Accounts receivable | (2) | 0 | ||
Inventories | (40) | (50) | ||
Other current assets | 0 | 0 | ||
Current portion of contract assets | 0 | 0 | ||
Assets held for sale | 0 | 0 | ||
Total current assets | (42) | (50) | ||
Investments and other assets | 0 | 0 | ||
Property, plant and equipment | 30 | 50 | ||
Other long-term assets | (1) | 0 | ||
Deferred tax assets | 0 | 0 | ||
Intangibles | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Contract assets | 0 | 0 | ||
Total assets | (13) | 0 | ||
Current | ||||
Short-term borrowings | 0 | 0 | ||
Accounts payable and accrued liabilities | 0 | 0 | ||
Provisions (note 13) | 0 | 0 | ||
Income taxes payable | 0 | 0 | ||
Unearned revenue | 0 | 0 | ||
Current portion of contract liabilities | 0 | 0 | ||
Current portion of non-current borrowings | 0 | 0 | ||
Liabilities held for sale | 0 | 0 | ||
Total current liabilities | 0 | 0 | ||
Long-term debt | 0 | 0 | ||
Other long-term liabilities | 0 | 0 | ||
Provisions (note 13) | 0 | 0 | ||
Deferred credits | 0 | 0 | ||
Contract liabilities | 0 | 0 | ||
Deferred income tax liabilities | (3) | 0 | ||
Total liabilities | (3) | 0 | ||
Shareholders' equity | ||||
Common and preferred shareholders | (10) | 0 | ||
Non-controlling interests in subsidiaries | 0 | 0 | ||
Total shareholders' equity | (10) | 0 | ||
Total liabilities and shareholders' equity | (13) | 0 | ||
Subsequent to transition [Member] | ||||
Current | ||||
Cash | 384 | 507 | ||
Accounts receivable | 253 | 286 | ||
Inventories | 61 | 59 | ||
Other current assets | 273 | 179 | ||
Current portion of contract assets | 59 | 15 | ||
Assets held for sale | 0 | 61 | ||
Total current assets | 1,030 | 1,107 | ||
Investments and other assets | 660 | 937 | ||
Property, plant and equipment | 4,702 | 4,394 | ||
Other long-term assets | 197 | 216 | ||
Deferred tax assets | 4 | 4 | ||
Intangibles | 7,482 | 7,435 | ||
Goodwill | 280 | 280 | ||
Contract assets | 76 | 44 | ||
Total assets | 14,431 | 14,417 | ||
Current | ||||
Short-term borrowings | 40 | 0 | ||
Accounts payable and accrued liabilities | 970 | 909 | ||
Provisions (note 13) | 245 | 76 | ||
Income taxes payable | 133 | 151 | ||
Unearned revenue | 0 | 0 | ||
Current portion of contract liabilities | 226 | 214 | ||
Current portion of non-current borrowings | 1 | 2 | ||
Liabilities held for sale | 0 | 39 | ||
Total current liabilities | 1,615 | 1,391 | ||
Long-term debt | 4,310 | 4,298 | ||
Other long-term liabilities | 13 | 114 | ||
Provisions (note 13) | 179 | 67 | ||
Deferred credits | 442 | 469 | ||
Contract liabilities | 18 | 21 | ||
Deferred income tax liabilities | 1,884 | 1,863 | ||
Total liabilities | 8,461 | 8,223 | ||
Shareholders' equity | ||||
Common and preferred shareholders | 5,969 | 6,193 | ||
Non-controlling interests in subsidiaries | 1 | 1 | ||
Total shareholders' equity | 5,970 | 6,194 | ||
Total liabilities and shareholders' equity | $ 14,431 | $ 14,417 | ||
[1] | Includes accrued interest and dividends of $ 244 . |
Basis of Presentation and Ac_11
Basis of Presentation and Accounting Policies (Transition adjustments - Condensed consolidated Statement of Cash Flows) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
OPERATING ACTIVITIES | ||
Funds flow from operations | $ 1,777 | $ 1,177 |
Net change in non-cash balances related to continuing operations | (209) | 178 |
Operating activities from discontinued operations | 0 | (2) |
Operating activities | 1,568 | 1,353 |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (1,109) | (1,121) |
Additions to equipment costs (net) | (42) | (49) |
Additions to other intangibles | 147 | 131 |
Proceeds on sale of spectrum licences | 0 | 35 |
Purchase of spectrum licenses | (492) | (25) |
Proceeds on sale of discontinued operations, net of cash sold | 0 | 18 |
Net additions to investments and other assets | 7 | 88 |
Proceeds on disposal of property, plant and equipment | 59 | 9 |
Investing activities | (1,133) | (1,176) |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 0 | 40 |
Increase in long-term debt | 1,000 | 10 |
Issue of Class B Non-Voting Shares | 35 | 43 |
Dividends paid on Class A Shares and Class B Non-Voting Shares | (389) | (384) |
Dividends paid on Series A Preferred Shares | (9) | (8) |
Other | (1) | (1) |
Financing activities | 627 | (300) |
Increase (decrease) in cash | 1,062 | (123) |
Cash, beginning of year | 384 | 507 |
Cash, end of year | 1,446 | 384 |
As reported [Member] | ||
OPERATING ACTIVITIES | ||
Funds flow from operations | 1,259 | |
Net change in non-cash balances related to continuing operations | 102 | |
Operating activities from discontinued operations | (2) | |
Operating activities | 1,359 | |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (1,127) | |
Additions to equipment costs (net) | (49) | |
Additions to other intangibles | 131 | |
Proceeds on sale of spectrum licences | 35 | |
Purchase of spectrum licenses | (25) | |
Proceeds on sale of discontinued operations, net of cash sold | 18 | |
Net additions to investments and other assets | 88 | |
Proceeds on disposal of property, plant and equipment | 9 | |
Investing activities | (1,182) | |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 40 | |
Increase in long-term debt | 10 | |
Issue of Class B Non-Voting Shares | 43 | |
Dividends paid on Class A Shares and Class B Non-Voting Shares | (384) | |
Dividends paid on Series A Preferred Shares | (8) | |
Other | (1) | |
Financing activities | (300) | |
Increase (decrease) in cash | (123) | |
Cash, beginning of year | 384 | 507 |
Cash, end of year | 384 | |
IFRS 15 transition [Member] | ||
OPERATING ACTIVITIES | ||
Funds flow from operations | (82) | |
Net change in non-cash balances related to continuing operations | 82 | |
Operating activities from discontinued operations | 0 | |
Operating activities | 0 | |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | 0 | |
Additions to equipment costs (net) | 0 | |
Additions to other intangibles | 0 | |
Proceeds on sale of spectrum licences | 0 | |
Purchase of spectrum licenses | 0 | |
Proceeds on sale of discontinued operations, net of cash sold | 0 | |
Net additions to investments and other assets | 0 | |
Proceeds on disposal of property, plant and equipment | 0 | |
Investing activities | 0 | |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 0 | |
Increase in long-term debt | 0 | |
Issue of Class B Non-Voting Shares | 0 | |
Dividends paid on Class A Shares and Class B Non-Voting Shares | 0 | |
Dividends paid on Series A Preferred Shares | 0 | |
Other | 0 | |
Financing activities | 0 | |
Increase (decrease) in cash | 0 | |
Cash, beginning of year | 0 | 0 |
Cash, end of year | 0 | |
Change in accounting policy [member] | ||
OPERATING ACTIVITIES | ||
Funds flow from operations | 0 | |
Net change in non-cash balances related to continuing operations | (6) | |
Operating activities from discontinued operations | 0 | |
Operating activities | (6) | |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | 6 | |
Additions to equipment costs (net) | 0 | |
Additions to other intangibles | 0 | |
Proceeds on sale of spectrum licences | 0 | |
Purchase of spectrum licenses | 0 | |
Proceeds on sale of discontinued operations, net of cash sold | 0 | |
Net additions to investments and other assets | 0 | |
Proceeds on disposal of property, plant and equipment | 0 | |
Investing activities | 6 | |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 0 | |
Increase in long-term debt | 0 | |
Issue of Class B Non-Voting Shares | 0 | |
Dividends paid on Class A Shares and Class B Non-Voting Shares | 0 | |
Dividends paid on Series A Preferred Shares | 0 | |
Other | 0 | |
Financing activities | 0 | |
Increase (decrease) in cash | 0 | |
Cash, beginning of year | 0 | 0 |
Cash, end of year | 0 | |
Subsequent to transition [Member] | ||
OPERATING ACTIVITIES | ||
Funds flow from operations | 1,177 | |
Net change in non-cash balances related to continuing operations | 178 | |
Operating activities from discontinued operations | (2) | |
Operating activities | 1,353 | |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (1,121) | |
Additions to equipment costs (net) | (49) | |
Additions to other intangibles | 131 | |
Proceeds on sale of spectrum licences | 35 | |
Purchase of spectrum licenses | (25) | |
Proceeds on sale of discontinued operations, net of cash sold | 18 | |
Net additions to investments and other assets | 88 | |
Proceeds on disposal of property, plant and equipment | 9 | |
Investing activities | (1,176) | |
FINANCING ACTIVITIES | ||
Increase in short-term borrowings (note 11) | 40 | |
Increase in long-term debt | 10 | |
Issue of Class B Non-Voting Shares | 43 | |
Dividends paid on Class A Shares and Class B Non-Voting Shares | (384) | |
Dividends paid on Series A Preferred Shares | (8) | |
Other | (1) | |
Financing activities | (300) | |
Increase (decrease) in cash | (123) | |
Cash, beginning of year | $ 384 | 507 |
Cash, end of year | $ 384 |
Basis of Presentation and Ac_12
Basis of Presentation and Accounting Policies (Transition adjustments - Condensed consolidated Statement of Financial Position II) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | $ 2,216 | $ 1,074 | $ 1,123 |
Current liabilities | 2,835 | 1,615 | 1,391 |
Shareholders' equity | 6,285 | 5,970 | 6,194 |
IFRSs 16 [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | 300 | ||
Non-current assets | 6,200 | ||
Current liabilities | 1,500 | ||
Non-current liabilities | 7,100 | ||
Shareholders' equity | 6,300 | ||
As reported [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | 1,026 | 1,118 | |
Current liabilities | 1,611 | 1,392 | |
Shareholders' equity | 5,957 | 6,154 | |
Financial Effect Of Changes In Accounting Policy [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | 300 | ||
Non-current assets | 4,900 | ||
Current liabilities | 1,300 | ||
Non-current liabilities | 6,000 | ||
Shareholders' equity | 6,300 | ||
Increase Decrease Due To Application Of IFRS 16 [Member] | IFRSs 16 [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Non-current assets | 1,300 | ||
Current liabilities | 200 | ||
Non-current liabilities | 1,100 | ||
Increase Decrease Due To Application Of IFRS 16 [Member] | IFRSs 16 [Member] | Top Of Range [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | 100 | ||
Shareholders' equity | $ 100 | ||
Increase Decrease Due To Voluntary Changes In Accounting Policy [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Current assets | (42) | (50) | |
Current liabilities | 0 | 0 | |
Shareholders' equity | $ (10) | $ 0 |
Asset Disposition And Asset H_3
Asset Disposition And Asset Held For Sale (Narrative) (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
May 31, 2017 | Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure Of Discontinued Operations [Line Items] | |||
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 0 | $ 18 | |
Shaw Tracking [Member] | |||
Disclosure Of Discontinued Operations [Line Items] | |||
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 20 | $ 18 |
Asset Disposition And Asset H_4
Asset Disposition And Asset Held For Sale (Loss from Discontinued Operations) (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
May 31, 2017 | Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure Of Discontinued Operations [Line Items] | |||
Proceeds on disposal, net of transaction costs | $ 0 | $ 18 | |
Shaw Tracking [Member] | |||
Disclosure Of Discontinued Operations [Line Items] | |||
Proceeds on disposal, net of transaction costs | $ 20 | 18 | |
Net assets disposed | (22) | ||
Gain (loss) before tax, discontinued operations | (4) | ||
Income taxes | 2 | ||
Gain (Loss) on divestiture, net of tax | $ (6) |
Asset Disposition And Asset H_5
Asset Disposition And Asset Held For Sale (Schedule of Assets and Liabilities Disposed) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | |
Disclosure Of Discontinued Operations [Line Items] | ||||
Cash | $ 1,446 | $ 384 | $ 507 | |
Accounts receivable | 287 | 253 | 286 | |
Inventories | 86 | 61 | 59 | |
Other current assets | 291 | 273 | 179 | |
Property, plant and equipment | 4,883 | 4,702 | 4,394 | |
Other long-term assets | 195 | 197 | 216 | |
Intangibles | 7,979 | 7,482 | 7,435 | |
Goodwill | 280 | 280 | 280 | |
Total assets | 15,646 | 14,431 | 14,417 | |
Accounts payable and accrued liabilities | 1,015 | [1] | 970 | 909 |
Long-term debt | 4,057 | 4,310 | 4,298 | |
Other long-term liabilities | 75 | 13 | 114 | |
Deferred credits | 425 | 442 | 469 | |
Deferred income tax liabilities | 1,875 | 1,884 | 1,863 | |
Deferred income tax liabilities | (4) | (4) | (4) | |
Total liabilities | $ 9,361 | 8,461 | $ 8,223 | |
Shaw Tracking [Member] | ||||
Disclosure Of Discontinued Operations [Line Items] | ||||
Accounts receivable | 6 | |||
Inventories | 5 | |||
Other current assets | 1 | |||
Other long-term assets | 25 | |||
Goodwill | 24 | |||
Total assets | 61 | |||
Accounts payable and accrued liabilities | 8 | |||
Deferred credits | 33 | |||
Deferred income tax liabilities | 2 | |||
Total liabilities | $ 22 | |||
[1] | Includes accrued interest and dividends of $ 244 . |
Asset Dispositions And Asset He
Asset Dispositions And Asset Held For Sale (Reconciliation of Major Classes of Line Items Constituting Income from Discontinued Operations, Net of Tax) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure Of Discontinued Operations [Line Items] | ||
Revenue | $ 5,340 | $ 5,189 |
Purchases of goods and services | 3,177 | 3,578 |
Income (loss) from discontinued operations, net of tax | 0 | (6) |
Intersegment Eliminations [Member] | ||
Disclosure Of Discontinued Operations [Line Items] | ||
Revenue | $ (7) | (4) |
Shaw Tracking [Member] | ||
Disclosure Of Discontinued Operations [Line Items] | ||
Revenue | 1 | |
Operating, general and administrative expenses | 0 | |
Purchases of goods and services | 1 | |
Operating, general and administrative expenses before eliminations | 1 | |
Income from discontinued operations before loss on divestiture | 0 | |
Income (loss) from discontinued operations, net of tax | (6) | |
Gain (Loss) on divestiture, net of tax | $ (6) |
Accounts Receivable (Narrative)
Accounts Receivable (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Operating, General And Adminstrative Expenses [Member] | ||
Disclosure Of Accounts Receivables [Line Items] | ||
Provision for doubtful accounts | $ 40 | $ 38 |
Accounts Receivable (Schedule o
Accounts Receivable (Schedule of Trade and Other Receivables) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Accounts Receivable [Abstract] | |||
Subscriber and trade receivables | $ 370 | $ 305 | |
Due from related parties [note 28] | 0 | 0 | |
Miscellaneous receivables | 15 | 7 | |
Total accounts receivable before allowance | 385 | 312 | |
Less allowance for doubtful accounts | (98) | (59) | |
Total accounts receivable | $ 287 | $ 253 | $ 286 |
Inventories (Details)
Inventories (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Inventories [Abstract] | |||
Wireless devices and accessories | $ 53 | $ 40 | |
DTH subscriber equipment | 33 | 21 | |
Inventories | $ 86 | $ 61 | $ 59 |
Other Current Assets (Schedule
Other Current Assets (Schedule of Other Current Assets) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Other Current Assets [Abstract] | |||
Prepaid expenses | $ 108 | $ 104 | |
Costs incurred to obtain or fulfill a contract with a customer | 59 | 48 | |
Other receivables | 124 | 121 | |
Other current assets | $ 291 | $ 273 | $ 179 |
Investments And Other Assets (N
Investments And Other Assets (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
May 31, 2019CAD ($)shares | May 31, 2019CAD ($) | Aug. 31, 2019CAD ($)item | Aug. 31, 2018CAD ($)shares | Aug. 31, 2016shares | |
Disclosure of joint operations [line items] | |||||
Investments In Private Entities | $ 37,000,000 | $ 45,000,000 | |||
Losses on disposal of investments | $ (109,000,000) | $ 0 | |||
Weighted average ownership of investment | 38.00% | 39.00% | |||
Minor investments in various private entities [Member] | |||||
Disclosure of joint operations [line items] | |||||
Investments In Private Entities | $ 10,000,000 | $ 10,000,000 | |||
Proceeds from disposal of investments in private entities | $ 25,000,000 | ||||
Corus [Member] | |||||
Disclosure of joint operations [line items] | |||||
Proceeds from sale of interest in associates | 526,000,000 | ||||
Losses on disposal of investments | 109,000,000 | ||||
Dividends received | $ (10,000,000) | ||||
Specialty television services | item | 35 | ||||
Radio Stations | item | 39 | ||||
Conventional television stations | item | 15 | ||||
Proportion of ownership interest in associate | 37.00% | ||||
Portion of shares retained for 12 month period | 33.33% | ||||
First retention period | 12 months | ||||
Portion of shares retained for 18 month period | 33.33% | ||||
Second retention period | 18 months | ||||
Portion of shares retained for 24 month period | 33.33% | ||||
Third retention period | 24 months | ||||
Class B Non-Voting Shares [Member] | Corus [Member] | |||||
Disclosure of joint operations [line items] | |||||
Number of shares outstanding | shares | 80,630,383 | ||||
Price per share | $ 6.8 | ||||
Proceeds from sale of interest in associates | 526,000,000 | ||||
Losses on disposal of investments | $ 109,000,000 | ||||
Weighted average ownership of investment | 38.00% | ||||
Dividends received | $ 10,000,000 | $ 92,000,000 | |||
Number of shares in associate | shares | 80,630,383 | ||||
Fair value of shares owned | $ 298,000,000 | ||||
Number of shares issued | shares | 71,364,853 |
Investments And Other Assets (S
Investments And Other Assets (Schedule of Investments) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of Investments and Other Assets [Abstract] | |||
Publicly traded companies | $ 0 | $ 615 | |
Investments in private entities | 37 | 45 | |
Total investments | $ 37 | $ 660 | $ 937 |
Investments And Other Assets _2
Investments And Other Assets (Schedule of Interests in Associates) (Details) - CAD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
May 31, 2019 | Aug. 31, 2019 | Aug. 31, 2018 | ||
Disclosure of joint operations [line items] | ||||
Revenue | $ 5,340 | $ 5,189 | ||
Net income (loss) attributable to: Shareholders | 722 | 25 | ||
Profit (loss) | 733 | 33 | ||
Other comprehensive income (loss) | (55) | 92 | ||
Comprehensive income (loss) | $ 678 | 125 | ||
Corus [Member] | ||||
Disclosure of joint operations [line items] | ||||
Revenue | $ 1,310 | 1,647 | ||
Net income (loss) attributable to: Shareholders | 133 | (784) | ||
Net income (loss) attributable to: Non-controlling interest | 19 | 26 | ||
Profit (loss) | 152 | (758) | ||
Other comprehensive income (loss) | (40) | 25 | ||
Comprehensive income (loss) | 112 | (733) | ||
Equity income from associates, excluding goodwill impairment | 46 | 84 | ||
Impairment of investment in associate | [1] | 0 | (284) | |
Equity income from associates | [2] | 46 | (200) | |
Other comprehensive income from equity accounted associates | [2] | (13) | 10 | |
Income from associates | $ 33 | $ (190) | ||
[1] | The Company assessed its investment in Corus for indicators of impairment, which included a significant and sustained decrease in the share price as well as the recording by Corus of an impairment charge against their goodwill and broadcast license intangibles, and found that there was evidence that impairment had occurred. The Company compared the recoverable amount to the carrying value and determined that an impairment charge of $284 was required. The recoverable amount was determined based on the value in use of the investment. | |||
[2] | The Company’s share of income and other comprehensive income reflect the weighted average proportion of Corus net income and other comprehensive income attributable to shareholders for the nine-month period ended May 31, 2019 and year ended August 31, 2018. |
Investments And Other Assets (L
Investments And Other Assets (Loss on Sale of Investments) (Details) - CAD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
May 31, 2019 | Aug. 31, 2019 | Aug. 31, 2018 | ||
Disclosure of joint operations [line items] | ||||
Carrying amount | $ 615 | $ 615 | ||
Carryong value at disposition date | 0 | $ 615 | ||
Loss On Sale Of Investments [Abstract] | ||||
Reclassification Adjustments Of Accumulated Income Loss, Sale Of Associate | 3 | 0 | ||
Losses on disposal of investments | (109) | 0 | ||
Corus [Member] | ||||
Disclosure of joint operations [line items] | ||||
Carrying amount | 615 | $ 615 | ||
Sale of equity at disposition date | 46 | 84 | ||
Share of other comprehensive loss of associate | [1] | (13) | 10 | |
Dividends received to disposition date | (10) | |||
Carryong value at disposition date | 638 | $ 615 | ||
Loss On Sale Of Investments [Abstract] | ||||
Proceeds from sale of interest in associates | 526 | |||
Reclassification Adjustments Of Accumulated Income Loss, Sale Of Associate | (3) | |||
Losses on disposal of investments | $ 109 | |||
[1] | The Company’s share of income and other comprehensive income reflect the weighted average proportion of Corus net income and other comprehensive income attributable to shareholders for the nine-month period ended May 31, 2019 and year ended August 31, 2018. |
Property, Plant And Equipment_2
Property, Plant And Equipment (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [abstract] | ||
Gain on the disposal of property, plant and equipment | $ 43 | $ 1 |
Property, Plant And Equipment_3
Property, Plant And Equipment (Schedule Of Net Book Value Of Property, Plant And Equipment) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | $ 4,883 | $ 4,702 | $ 4,394 |
Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 9,670 | 9,079 | |
Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 4,787 | 4,377 | |
Cable And Telecommunications Distribution System [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 3,420 | 3,364 | 3,112 |
Cable And Telecommunications Distribution System [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 6,876 | 6,506 | |
Cable And Telecommunications Distribution System [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 3,456 | 3,142 | |
Digital Cable Terminals And Modems [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 368 | 386 | 408 |
Digital Cable Terminals And Modems [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 980 | 927 | |
Digital Cable Terminals And Modems [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 612 | 541 | |
Satelite Audio, Video And Data Network, And DTH Receiving Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 60 | 65 | 60 |
Satelite Audio, Video And Data Network, And DTH Receiving Equipment [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 116 | 111 | |
Satelite Audio, Video And Data Network, And DTH Receiving Equipment [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 56 | 46 | |
Land And Buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 375 | 403 | 428 |
Land And Buildings [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 640 | 641 | |
Land And Buildings [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 265 | 238 | |
Data Center Infrastructure, Data Processing And Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 199 | 269 | 285 |
Data Center Infrastructure, Data Processing And Other [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 597 | 679 | |
Data Center Infrastructure, Data Processing And Other [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 398 | 410 | |
Assets Under Construction [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 461 | 215 | $ 101 |
Assets Under Construction [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 461 | 215 | |
Assets Under Construction [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | $ 0 | $ 0 |
Property, Plant And Equipment_4
Property, Plant And Equipment (Changes In Net Carrying Amounts Of Property, Plant And Equipment) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | $ 4,702 | $ 4,394 |
Additions | 1,109 | 1,207 |
Transfers | 0 | 0 |
Amortization | (872) | (889) |
Disposals and writedown | (22) | (10) |
Divestment | (34) | 0 |
Property, plant and equipment | 4,883 | 4,702 |
Cable And Telecommunications Distribution System [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 3,364 | 3,112 |
Additions | 306 | 578 |
Transfers | 295 | 208 |
Amortization | (540) | (524) |
Disposals and writedown | (1) | (10) |
Divestment | (4) | 0 |
Property, plant and equipment | 3,420 | 3,364 |
Digital Cable Terminals And Modems [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 386 | 408 |
Additions | 218 | 246 |
Transfers | 0 | 0 |
Amortization | (236) | (268) |
Disposals and writedown | 0 | 0 |
Divestment | 0 | 0 |
Property, plant and equipment | 368 | 386 |
Satelite Audio, Video And Data Network, And DTH Receiving Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 65 | 60 |
Additions | 11 | 19 |
Transfers | 0 | 0 |
Amortization | (16) | (14) |
Disposals and writedown | 0 | 0 |
Divestment | 0 | 0 |
Property, plant and equipment | 60 | 65 |
Land And Buildings [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 403 | 428 |
Additions | 2 | 4 |
Transfers | 4 | 0 |
Amortization | (30) | (29) |
Disposals and writedown | (4) | 0 |
Divestment | 0 | 0 |
Property, plant and equipment | 375 | 403 |
Data Center Infrastructure, Data Processing And Other [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 269 | 285 |
Additions | 9 | 27 |
Transfers | 18 | 11 |
Amortization | (50) | (54) |
Disposals and writedown | (17) | 0 |
Divestment | (30) | 0 |
Property, plant and equipment | 199 | 269 |
Assets Under Construction [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 215 | 101 |
Additions | 563 | 333 |
Transfers | (317) | (219) |
Amortization | 0 | 0 |
Disposals and writedown | 0 | 0 |
Divestment | 0 | 0 |
Property, plant and equipment | $ 461 | $ 215 |
Other Long-Term Assets (Narrati
Other Long-Term Assets (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of fair value measurement of assets [line items] | ||
Amortization | $ 88 | $ 112 |
Other Long-Term Assets (Schedul
Other Long-Term Assets (Schedule Of Other Long-Term Assets) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Other Long Term Assets [Abstract] | |||
Equipment costs subject to a deferred revenue arrangement | $ 93 | $ 121 | |
Long-term Wireless handset receivables | 45 | 27 | |
Costs incurred to obtain or fulfill a contract with a customer | 35 | 26 | |
Credit facility arrangement fees | 4 | 4 | |
Other | 18 | 19 | |
Total other non-current assets | $ 195 | $ 197 | $ 216 |
Intangibles And Goodwill (Narra
Intangibles And Goodwill (Narrative) (Details) | Feb. 01, 2019 |
Intangibles And Goodwill [Abstract] | |
Hypothetical decline in the recoverable amount of the broadcast rights and licences for the cable cash generation | 10.00% |
Hypothetical decline in the recoverable amount of the broadcast rights and licences for the satellite cash generation | 10.00% |
Hypothetical decline in the recoverable amount of the wireless generating unit | 10.00% |
Intangibles AndGoodwill (Schedu
Intangibles AndGoodwill (Schedule Of Net book Value Of Intanbible Assets And Goodwill) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Broadcast rights and licences | $ 5,029 | $ 5,029 | |
Goodwill | 280 | 280 | $ 280 |
Wireless spectrum licences | 2,445 | 1,953 | |
Other intangibles | 7,979 | 7,482 | |
Total intangible assets and goodwill | 8,259 | 7,762 | |
Cable Systems [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Broadcast rights and licences | 4,016 | 4,016 | |
DTH And Satellite Services [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Broadcast rights and licences | 1,013 | 1,013 | |
Cable And Telecommunications Systems [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | 79 | 79 | |
Wireless [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Goodwill | 201 | 201 | |
Wireless Spectrum Licences [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Total intangible assets and goodwill | 2,445 | 1,953 | $ 1,947 |
Software [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Other intangibles | 451 | 434 | |
Customer Relationships [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Other intangibles | $ 54 | $ 66 |
Intangibles And Goodwill (Chang
Intangibles And Goodwill (Changes In Carrrying Amount Of Intangibles With Indefinite Useful Lives) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | $ 7,762 | |
Additions | 123 | $ 138 |
Intangible assets and goodwill at end of period | 8,259 | 7,762 |
Broadcast Rights and Licenses [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 5,029 | 5,029 |
Additions | 0 | 0 |
Disposition | 0 | 0 |
Intangible assets and goodwill at end of period | 5,029 | 5,029 |
Goodwill [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 280 | 280 |
Additions | 0 | 0 |
Disposition | 0 | 0 |
Intangible assets and goodwill at end of period | 280 | 280 |
Wireless Spectrum Licences [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 1,953 | 1,947 |
Additions | 492 | 25 |
Disposition | 0 | (19) |
Intangible assets and goodwill at end of period | $ 2,445 | $ 1,953 |
Intangibles And Goodwill (Intan
Intangibles And Goodwill (Intangibles Subject To Amoritzation) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | $ 505 | $ 500 | $ 459 |
Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 822 | 731 | |
Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 317 | 231 | |
Software [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 440 | 412 | 377 |
Software [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 697 | 595 | |
Software [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 257 | 183 | |
Software Under Construction [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 11 | 22 | 3 |
Software Under Construction [member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 11 | 22 | |
Software Under Construction [member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 0 | 0 | |
Customer Relationships [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 54 | 66 | $ 79 |
Customer Relationships [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 114 | 114 | |
Customer Relationships [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | $ 60 | $ 48 |
Intangibles And Goodwill (Cha_2
Intangibles And Goodwill (Changes In Carrying Amount Of Intangibles) (Details) - CAD ($) | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | $ 500,000,000 | $ 459,000,000 |
Additions | 123,000,000 | 138,000,000 |
Transfers | 0 | 0 |
Dispositions | (6,000,000) | |
Amortization | (112,000,000) | (97,000,000) |
Ending balance | 505,000,000 | 500,000,000 |
Software [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 412,000,000 | 377,000,000 |
Additions | 112,000,000 | 121,000,000 |
Transfers | 22,000,000 | (2,000,000) |
Dispositions | (6,000,000) | |
Amortization | (100,000,000) | (84,000,000) |
Ending balance | 440,000,000 | 412,000,000 |
Software Under Construction [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 22,000,000 | 3,000,000 |
Additions | 11,000,000 | 17,000,000 |
Transfers | (22,000,000) | 2,000,000 |
Dispositions | 0 | |
Amortization | 0 | 0 |
Ending balance | 11,000,000 | 22,000,000 |
Customer Relationships [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 66,000,000 | 79,000,000 |
Additions | 0 | 0 |
Transfers | 0 | 0 |
Dispositions | 0 | |
Amortization | (12,000,000) | (13,000,000) |
Ending balance | $ 54,000,000 | $ 66,000,000 |
Intangibles And Goodwill (Cha_3
Intangibles And Goodwill (Changes In Market Condidtions Related To Discount Rates And Terminal Value) (Details) $ in Millions | 12 Months Ended |
Aug. 31, 2019CAD ($) | |
Cable [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Post-tax discount rates (%) | 6.50% |
Terminal growth rates (%) | 1.50% |
Terminal operating income before restructuring costs and amortization multiple | $ 7.4 |
Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Post-tax discount rates (%) | 7.50% |
Terminal growth rates (%) | (3.00%) |
Terminal operating income before restructuring costs and amortization multiple | $ 5.4 |
Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Post-tax discount rates (%) | 9.30% |
Terminal growth rates (%) | 1.00% |
Terminal operating income before restructuring costs and amortization multiple | $ 4.5 |
Intangibles And Goodwill (Sched
Intangibles And Goodwill (Schedule Of Sensitivity Analysis Of Significant Estimates) (Details) | 12 Months Ended |
Aug. 31, 2019 | |
Cable [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 6.50% |
1% decrease in terminal growth rate | 1.50% |
Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 7.50% |
1% decrease in terminal growth rate | (3.00%) |
Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 9.30% |
1% decrease in terminal growth rate | 1.00% |
Estimated Decline In Recoverable Amount [Member] | Cable [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 16.40% |
1% decrease in terminal growth rate | 14.20% |
0.5 times decrease in terminal operating income before restructuring costs and amortization multiple | 4.80% |
Estimated Decline In Recoverable Amount [Member] | Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 8.10% |
1% decrease in terminal growth rate | 5.60% |
0.5 times decrease in terminal operating income before restructuring costs and amortization multiple | 5.60% |
Estimated Decline In Recoverable Amount [Member] | Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 15.20% |
1% decrease in terminal growth rate | 7.70% |
0.5 times decrease in terminal operating income before restructuring costs and amortization multiple | 8.00% |
Short-Term Borrowings (Narrativ
Short-Term Borrowings (Narrative) (Details) - CAD ($) $ in Millions | Nov. 01, 2019 | Jun. 19, 2018 | Aug. 31, 2019 | Aug. 31, 2018 | May 29, 2019 | Aug. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | ||||||
Proceeds received from accounts receivable securitization | $ 0 | $ 40 | ||||
Short-term borrowings from buyer | 40 | 40 | $ 0 | |||
Securitization program [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Proceeds received from accounts receivable securitization | $ 80 | |||||
Short-term borrowings from buyer | 120 | |||||
Additional Amount Drawn Accounts Receivable Securitization | $ 40 | |||||
Accounts Receivable Securitization [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Proceeds received from accounts receivable securitization | $ 40 | |||||
Short-term borrowings from buyer | $ 40 | $ 40 | ||||
Accounts Receivable Securitization [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Trade receivables | $ 100 | $ 200 |
Short-Term Borrowings (Summary
Short-Term Borrowings (Summary of Accounts Receivable Securitization) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | |||
Trade accounts receivable sold to buyer as security | $ 370 | $ 305 | |
Short-term borrowings from buyer | (40) | (40) | $ 0 |
Accounts Receivable Securitization [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Trade accounts receivable sold to buyer as security | 434 | 429 | |
Short-term borrowings from buyer | (40) | (40) | |
Overcollateralization | $ 394 | $ 389 |
Short-Term Borrowings (Reconcil
Short-Term Borrowings (Reconciliation of Accounts Receivable Securitization) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Short-term borrowings, beginning balance | $ 40 | $ 0 |
Proceeds received from accounts receivable securitization | 0 | 40 |
Short-term borrowings, ending balance | 40 | 40 |
Short-term borrowings | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Short-term borrowings, beginning balance | 40 | 0 |
Proceeds received from accounts receivable securitization | 0 | 40 |
Short-term borrowings, ending balance | $ 40 | $ 40 |
Accounts Payable And Accrued _3
Accounts Payable And Accrued Liabilities (Schedule Of Accounts Payable And Accrued Liabilities) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 |
Accounts Payable And Accrued Liabilities [Abstract] | ||
Trade | $ 114 | $ 97 |
Program rights | 5 | 8 |
Accrued liabilities | 482 | 496 |
Accrued network fees | 155 | 125 |
Interest and dividends | 244 | 227 |
Related parties [note 28] | 15 | 17 |
Total trade and other current payables | $ 1,015 | $ 970 |
Provisions (Schedule Of Provisi
Provisions (Schedule Of Provisions) (Details) - CAD ($) $ in Millions | 12 Months Ended | |||||
Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | ||||
Disclosure of other provisions [line items] | ||||||
Provisions, Beginning | $ 424 | $ 143 | ||||
Additions | 39 | 477 | ||||
Accretion | 1 | 1 | ||||
Reversal | (10) | [1] | (13) | |||
Payments | (151) | (184) | ||||
Current | 224 | 245 | $ 76 | |||
Long-term | 79 | 179 | $ 67 | |||
Provisions, Ending | 303 | $ 424 | ||||
Number of employees affected by restructuring | 3,300 | |||||
Provisions for severance and employee related costs | $ 446 | |||||
Payments made on severence and employee related provision | 121 | 172 | ||||
Freedom Mobile Inc. [Member] | ||||||
Disclosure of other provisions [line items] | ||||||
Payments made on severence and employee related provision | 3 | 5 | ||||
Asset Retirement Obligations [Member] | ||||||
Disclosure of other provisions [line items] | ||||||
Provisions, Beginning | 67 | 60 | ||||
Additions | 10 | 6 | ||||
Accretion | 1 | 1 | ||||
Reversal | 0 | [1] | 0 | |||
Payments | 0 | 0 | ||||
Current | 0 | 0 | ||||
Long-term | 78 | 67 | ||||
Provisions, Ending | 78 | 67 | ||||
Restructuring [Member] | ||||||
Disclosure of other provisions [line items] | ||||||
Provisions, Beginning | [3] | 276 | [2] | 7 | [4] | |
Additions | [3],[4] | 1 | 446 | |||
Accretion | [3],[4] | 0 | 0 | |||
Reversal | [3],[4] | (10) | [1] | 0 | ||
Payments | [3],[4] | (124) | (177) | |||
Current | [3] | 142 | [4] | 166 | [2] | |
Long-term | [3] | 1 | [4] | 110 | [2] | |
Provisions, Ending | [3] | 143 | [4] | 276 | [2] | |
Other [Member] | ||||||
Disclosure of other provisions [line items] | ||||||
Provisions, Beginning | 81 | 76 | ||||
Additions | 28 | 25 | ||||
Accretion | 0 | 0 | ||||
Reversal | 0 | [1] | (13) | |||
Payments | (27) | (7) | ||||
Current | 82 | 79 | ||||
Long-term | 0 | 2 | ||||
Provisions, Ending | $ 82 | $ 81 | ||||
[1] | During the year, certain employees and the Company agreed to rescind earlier elections under the voluntary departure program. | |||||
[2] | Level 1 fair value – determined by quoted market prices. | |||||
[3] | During the second quarter of fiscal 2018, the Company offered a voluntary departure program to a group of eligible employees and in the second half of 2018 additional changes to its organizational structure as part of a total business transformation initiative. In connection with the restructuring, the Company recorded $446 in 2018 primarily related to severance and employee related costs in respect of the approximate 3,300 affected employees. In fiscal 2019, a total of $121 has been paid (2018 - $172). The remaining costs are expected to be paid within the next 17 months. | |||||
[4] | During 2017, the Company restructured certain operations within the Wireline segment and announced a realignment to integrate certain Consumer/Business operations and Freedom Mobile. In fiscal 2019, a total of $3 has been paid (2018 - $5). |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - CAD ($) | Oct. 01, 2019 | Aug. 31, 2019 | Nov. 21, 2019 | Nov. 02, 2018 | Aug. 31, 2018 | Feb. 28, 2018 | Aug. 31, 2016 | Aug. 31, 2004 |
Fixed rate senior notes 5.65% due October 1, 2019 [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Repayment of long-term debt | $ 1,250,000,000 | |||||||
Interest rate (as a percent) | 565.00% | |||||||
Fixed rate senior notes 5.65% due October 1, 2019 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 5.69% | |||||||
Fixed rate senior notes 5.50% due December 7, 2020 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 5.55% | |||||||
Fixed rate senior notes 3.15% due February 19, 2021 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 3.17% | |||||||
Fixed rate senior notes 3.80% due November 2, 2023 [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 380.00% | |||||||
Principal amount | $ 500,000,000 | |||||||
Fixed rate senior notes 3.80% due November 2, 2023 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 3.80% | |||||||
Fixed rate senior notes 4.35% due January 31, 2024 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 4.35% | |||||||
Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 3.84% | |||||||
Fixed rate senior notes 4.40% due November 2, 2028 [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 440.00% | |||||||
Principal amount | $ 500,000,000 | |||||||
Fixed rate senior notes 4.40% due November 2, 2028 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 4.40% | |||||||
Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Corporate [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 6.89% | |||||||
Unsecured credit facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Credit facility, maximum borrowing capacity | $ 1,000,000,000 | |||||||
Increased credit facility borrowing capacity | $ 500,000,000 | |||||||
Unsecured credit facility [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | ||||||||
Revolving term facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Credit facility, maximum borrowing capacity | $ 50,000,000 | |||||||
Revolving term facility [Member] | Effective interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | ||||||||
Committed letters of credit [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Line of Credit | $ 3,000,000 | $ 2,000,000 | ||||||
Burrard Landing Lot 2 Holdings Partnership [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Proceeds from loan excess funds | $ 10,000,000 | |||||||
Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Ownership interest | 33.33% | |||||||
Bond term | 10 years | |||||||
Number of years interest paid | 5 years | |||||||
Proceeds from loan excess funds | $ 30,000,000 | |||||||
Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | Fixed interest rate | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Interest rate (as a percent) | 4.683% | 4.14% | 6.31% | |||||
Extended Credit Facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Debt | $ 1,500,000,000 |
Long-Term Debt (Summary Of Long
Long-Term Debt (Summary Of Long-Term Debt) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Feb. 28, 2018 | Aug. 31, 2017 | Aug. 31, 2004 | |
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | $ 5,350 | $ 4,350 | ||||
Less current portion | 1,251 | 1 | $ 2 | |||
Non-current portion | $ 4,057 | 4,310 | $ 4,298 | |||
Fixed rate senior notes 5.65% due October 1, 2019 [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 565.00% | |||||
Fixed rate senior notes 5.65% due October 1, 2019 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 5.69% | |||||
Fixed rate senior notes 5.50% due December 7, 2020 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 5.55% | |||||
Fixed rate senior notes 3.15% due February 19, 2021 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 3.17% | |||||
Fixed Rate Senior Notes 3.80% due 2023 [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 380.00% | |||||
Fixed Rate Senior Notes 3.80% due 2023 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 3.80% | |||||
Fixed rate senior notes 4.35% due January 31, 2024 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 4.35% | |||||
Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 3.84% | |||||
Fixed Rate Senior Notes 4.40% due 2028 [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 440.00% | |||||
Fixed Rate Senior Notes 4.40% due 2028 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 4.40% | |||||
Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Effective interest rate | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 6.89% | |||||
Burrard Landing Lot 2 Holdings Partnership [Member] | Fixed interest rate | Other related parties [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Interest rate | 4.683% | 4.14% | 6.31% | |||
Long-term debt at amortized cost [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | $ 5,308 | 4,311 | |||
Less current portion | [1] | 1,251 | 1 | |||
Non-current portion | 4,057 | 4,310 | ||||
Long-term debt at amortized cost [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 5,258 | 4,261 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 5.65% due October 1, 2019 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 1,250 | 1,248 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 5.50% due December 7, 2020 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 499 | 499 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 3.15% due February 19, 2021 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 299 | 299 | |||
Long-term debt at amortized cost [Member] | Fixed Rate Senior Notes 3.80% due 2023 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 498 | 0 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 4.35% due January 31, 2024 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 498 | 498 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 298 | 298 | |||
Long-term debt at amortized cost [Member] | Fixed Rate Senior Notes 4.40% due 2028 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 496 | 0 | |||
Long-term debt at amortized cost [Member] | Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 1,420 | 1,419 | |||
Long-term debt at amortized cost [Member] | Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 50 | 50 | |||
Adjustment for Finance Costs [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 42 | 39 | |||
Less current portion | [1] | 1 | 0 | |||
Non-current portion | 41 | 39 | ||||
Adjustment for Finance Costs [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 42 | 39 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 5.65% due October 1, 2019 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 0 | 2 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 5.50% due December 7, 2020 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 1 | 1 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 3.15% due February 19, 2021 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 1 | 1 | |||
Adjustment for Finance Costs [Member] | Fixed Rate Senior Notes 3.80% due 2023 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 2 | 0 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 4.35% due January 31, 2024 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 2 | 2 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 2 | 2 | |||
Adjustment for Finance Costs [Member] | Fixed Rate Senior Notes 4.40% due 2028 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 4 | 0 | |||
Adjustment for Finance Costs [Member] | Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 30 | 31 | |||
Adjustment for Finance Costs [Member] | Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | [1] | 0 | 0 | |||
Long-term Debt Repayable at Maturity [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 5,350 | 4,350 | ||||
Less current portion | 1,252 | 1 | ||||
Non-current portion | 4,098 | 4,349 | ||||
Long-term Debt Repayable at Maturity [member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 5,300 | 4,300 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 5.65% due October 1, 2019 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 1,250 | 1,250 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 5.50% due December 7, 2020 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 500 | 500 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 3.15% due February 19, 2021 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 300 | 300 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed Rate Senior Notes 3.80% due 2023 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 500 | 0 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 4.35% due January 31, 2024 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 500 | 500 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 300 | 300 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed Rate Senior Notes 4.40% due 2028 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 500 | 0 | ||||
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Corporate [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | 1,450 | 1,450 | ||||
Long-term Debt Repayable at Maturity [member] | Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total consolidated debt | $ 50 | $ 50 | ||||
[1] | Long-term debt is presented net of unamortized discounts and finance costs. |
Long-Term Debt (Long-Term Debt
Long-Term Debt (Long-Term Debt Repayments) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 5,350 | $ 4,350 |
2020 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,251 | |
2021 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 801 | |
2022 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1 | |
2023 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 501 | |
2024 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 501 | |
Thereafter [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 2,295 |
Long-Term Debt (Interest Expens
Long-Term Debt (Interest Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Long-Term Debt [Abstract] | |||
Interest expense - long-term debt | $ 280 | $ 245 | |
Amortization of senior notes discounts | 1 | 1 | |
Interest income - short-term (net) | (29) | (6) | |
Interest expense - other | 6 | 8 | |
Interest expense | [1] | $ 258 | $ 248 |
[1] | The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Other Long-Term Liabilities (De
Other Long-Term Liabilities (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Other Long-Term Liabilities [Abstract] | |||
Non-current net defined benefit liability | $ 69 | $ 10 | |
Post retirement liabilities [note 27] | 4 | 3 | |
Other | 2 | 0 | |
Other long-term liabilities | $ 75 | $ 13 | $ 114 |
Deferred Credits (Narrative) (D
Deferred Credits (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | $ 34 | $ 42 |
Minimum [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortisation period of deferred credits | 21 years | |
Maximum [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortisation period of deferred credits | 60 years | |
IRU prepayments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | $ 12 | 13 |
Equipment revenue [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | $ 21 | $ 30 |
Deferred Credits (Disclosure of
Deferred Credits (Disclosure of deferred credits) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Deferred credits | $ 425 | $ 442 | $ 469 |
IRU prepayments [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Deferred credits | 400 | 411 | |
Equipment revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Deferred credits | 23 | 29 | |
Deposit on future fibre sale [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Deferred credits | $ 2 | $ 2 |
Share Capital (Narrative) (Deta
Share Capital (Narrative) (Details) - CAD ($) $ / shares in Units, $ in Millions | Nov. 15, 2019 | Aug. 31, 2019 |
Disclosure of classes of share capital [line items] | ||
Preferred shares redemption price, per share | $ 25 | |
Treasury Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Cancellation of shares, percentage of all shares | 5.00% | |
Class B Non Voting Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Shares cancelled | 483,428 | |
Cancellation of shares | $ 13 | |
Class B Non Voting Shares [Member] | Treasury Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares authorised | 24,758,127 |
Share Capital (Disclosure of Ca
Share Capital (Disclosure of Capital Stock) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 528,761,835 | 518,614,408 | |
Issued capital | $ 4,605 | $ 4,349 | |
Class A Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 22,372,064 | 22,420,064 | 22,420,064 |
Issued capital | $ 2 | $ 2 | $ 2 |
Class B Non-Voting Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 494,389,771 | 484,194,344 | 474,350,861 |
Issued capital | $ 4,310 | $ 4,054 | $ 3,795 |
Series A Preferred Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 10,012,393 | 10,012,393 | |
Issued capital | $ 245 | $ 245 | |
Series B Preferred Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 1,987,607 | 1,987,607 | |
Issued capital | $ 48 | $ 48 |
Share Capital (Disclosure of Ch
Share Capital (Disclosure of Changes in Share Capital) (Details) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019CAD ($)shares | Aug. 31, 2018CAD ($)shares | ||
Disclosure of classes of share capital [line items] | |||
Number of shares, beginning balance | shares | 518,614,408 | ||
Stock options exercises, shares | shares | [1] | 1,658,465 | 1,854,594 |
Number of shares, ending balance | shares | 528,761,835 | 518,614,408 | |
Beginning balance | $ 4,349 | ||
Stock option exercises | 35 | $ 42 | |
Dividend reinvestment plan | 0 | 0 | |
Ending balance | $ 4,605 | $ 4,349 | |
Class A Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares, beginning balance | shares | 22,420,064 | 22,420,064 | |
Stock options exercises, shares | shares | 0 | 0 | |
Dividend reinvestment plan, shares | shares | 0 | 0 | |
Number of shares, ending balance | shares | 22,372,064 | 22,420,064 | |
Beginning balance | $ 2 | $ 2 | |
Stock option exercises | 0 | 0 | |
Dividend reinvestment plan | 0 | 0 | |
Ending balance | $ 2 | $ 2 | |
Class B Non-Voting Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares, beginning balance | shares | 484,194,344 | 474,350,861 | |
Stock options exercises, shares | shares | 1,658,465 | 1,854,594 | |
Dividend reinvestment plan, shares | shares | 8,488,962 | 7,988,889 | |
Number of shares, ending balance | shares | 494,389,771 | 484,194,344 | |
Beginning balance | $ 4,054 | $ 3,795 | |
Stock option exercises | 39 | 48 | |
Dividend reinvestment plan | 217 | 211 | |
Class A conversions to Class B | 0 | 0 | |
Ending balance | $ 4,310 | $ 4,054 | |
[1] | The weighted average Class B Non-Voting Share price for the options exercised was $26.91. |
Share-Based Compensation And _3
Share-Based Compensation And Awards (Narrative) (Details) - CAD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Stock Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Weighted average grant date fair value | $ 2.07 | $ 2.11 |
Employee Share Purchase Plan [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting term | 10 years | |
Share based payment arrangement maximum employee subscription rate | 5.00% | |
Share based payment arrangement employee matching contribution, percent of match | 25.00% | |
Stock-based compensation | $ 6 | $ 7 |
Employee Share Purchase Plan [Member] | Maximum [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share based payment arrangement employee matching contribution, percent of match | 33.00% | |
Class B Non-Voting Shares [Member] | Stock Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock Repurchase Program, Authorized Amount | 62,000,000 | |
Number of shares issued | 39,229,679 | |
Award vesting term | 10 years | |
Class B Non-Voting Shares [Member] | Stock Options [Member] | Maturity, Four Years [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share based payment arrangement employee matching contribution, percent of match | 25.00% | |
Class B Non-Voting Shares [Member] | Stock Options [Member] | Maturity, Five Years [Member] [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share based payment arrangement employee matching contribution, percent of match | 20.00% | |
Class B Non-Voting Shares [Member] | Restricted Stock Units [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Liabilities from share-based payment transactions | $ 7 | 3 |
Intrinsic value of liabilities from share-based payment transactions | 7 | 3 |
Class B Non-Voting Shares [Member] | Deferred Share Units [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock-based compensation | 2 | |
Liabilities from share-based payment transactions | 24 | 24 |
Intrinsic value of liabilities from share-based payment transactions | 20 | 20 |
Class B Non-Voting Shares [Member] | Restricted Stock Unit And Performance Share Unit [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock-based compensation | $ 5 | $ 3 |
Share-Based Compensation And _4
Share-Based Compensation And Awards (Stock Options Activity) (Details) | 12 Months Ended | ||
Aug. 31, 2019CAD ($)shares | Aug. 31, 2018CAD ($)shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of options, beginning of year (in shares) | shares | 9,378,966 | 10,158,005 | |
Number of options, Granted (in shares) | shares | 1,540,000 | 2,790,000 | |
Number of options, Forfeited (in shares) | shares | (897,470) | (1,714,445) | |
Number of options, Exercised (in shares) | shares | [1] | (1,658,465) | (1,854,594) |
Number of options, end of year (in shares) | shares | 8,363,031 | 9,378,966 | |
Weighted average exercise price, beginning of year | $ | $ 25.18 | $ 24.45 | |
Weighted average exercise price, Granted | $ | 26.36 | 27.17 | |
Weighted average exercise price, Forfeited | $ | 26.66 | 26.45 | |
Weighted average exercise price, Exercised | $ | [1] | 20.76 | 23.05 |
Weighted average exercise price, end of year | $ | $ 26.11 | $ 25.18 | |
Class B Non-Voting Shares [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of options, Exercised (in shares) | shares | (1,658,465) | (1,854,594) | |
Weighted average exercise price, Exercised | $ | $ 26.91 | ||
[1] | The weighted average Class B Non-Voting Share price for the options exercised was $26.91. |
Share-Based Compensation And _5
Share-Based Compensation And Awards (Stock Option Range of Exercise Prices) (Details) | Aug. 31, 2019CAD ($)shares | Aug. 31, 2018CAD ($)shares | Aug. 31, 2017CAD ($)shares |
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 8,363,031 | 9,378,966 | 10,158,005 |
Options outstanding, Weighted average exercise price | $ 26.11 | $ 25.18 | $ 24.45 |
Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 309,891 | ||
Options outstanding, Weighted average remaining contractual life (years) | 1.12 | ||
Options outstanding, Weighted average exercise price | $ 19.59 | ||
Options exercisable, Number exercisable (in shares) | shares | 309,891 | ||
Options exercisable, Weighted average exercise price | $ 19.59 | ||
Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,235,010 | ||
Options outstanding, Weighted average remaining contractual life (years) | 5.4 | ||
Options outstanding, Weighted average exercise price | $ 23.49 | ||
Options exercisable, Number exercisable (in shares) | shares | 842,460 | ||
Options exercisable, Weighted average exercise price | $ 23.37 | ||
Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,086,750 | ||
Options outstanding, Weighted average remaining contractual life (years) | 6.67 | ||
Options outstanding, Weighted average exercise price | $ 25.18 | ||
Options exercisable, Number exercisable (in shares) | shares | 620,100 | ||
Options exercisable, Weighted average exercise price | $ 25.08 | ||
Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 2,906,225 | ||
Options outstanding, Weighted average remaining contractual life (years) | 8.1 | ||
Options outstanding, Weighted average exercise price | $ 26.43 | ||
Options exercisable, Number exercisable (in shares) | shares | 692,325 | ||
Options exercisable, Weighted average exercise price | $ 26.49 | ||
Range 5 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 2,825,155 | ||
Options outstanding, Weighted average remaining contractual life (years) | 7.14 | ||
Options outstanding, Weighted average exercise price | $ 28.01 | ||
Options exercisable, Number exercisable (in shares) | shares | 1,315,205 | ||
Options exercisable, Weighted average exercise price | $ 28.12 | ||
Minimum [Member] | Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 18.79 | ||
Minimum [Member] | Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 20.81 | ||
Minimum [Member] | Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 24.22 | ||
Minimum [Member] | Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.23 | ||
Minimum [Member] | Range 5 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 27.2 | ||
Maximum [Member] | Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 20.8 | ||
Maximum [Member] | Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 24.21 | ||
Maximum [Member] | Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.22 | ||
Maximum [Member] | Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 27.19 | ||
Maximum [Member] | Range 5 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | $ 30.87 |
Share-Based Compensation And _6
Share-Based Compensation And Awards (Weighted-Average Assumptions) (Details) - yr | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Share-Based Compensation And Awards [Abstract] | ||
Dividend yield | 4.05% | 4.37% |
Risk-free interest rate | 2.08% | 1.88% |
Expected life of options | 7 | 6 |
Expected volatility factor of the future expected market price of Class B Non-Voting Shares | 16.30% | 16.30% |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Earnings per share [abstract] | |||
Net income from continuing operations | $ 733 | $ 39 | |
Deduct: net income attributable to non-controlling interests in subsidiaries | (2) | 0 | |
Deduct: dividends on Preferred Shares | (9) | (8) | |
Net income attributable to common shareholders from continuing operations | 722 | 31 | |
Loss from discontinued operations attributable to common shareholders | 0 | (6) | |
Net income attributable to common shareholders | $ 722 | $ 25 | |
Weighted average number of Class A Shares and Class B Non-Voting Shares for basic earnings per share | 511 | 502 | |
Effect of dilutive securities | [1] | 0 | 1 |
Weighted average number of Class A Shares and Class B Non-Voting Shares for diluted earnings per share | 511 | 503 | |
Continuing operations | $ 1.41 | $ 0.06 | |
Discontinued operations | 0 | (0.01) | |
Total basic earnings (loss) per share | 1.41 | 0.05 | |
Continuing operations | 1.41 | 0.06 | |
Discontinued operations | 0 | (0.01) | |
Total diluted earnings (loss) per share | $ 1.41 | $ 0.05 | |
[1] | (1) The earnings per share calculation does not take into consideration the potential dilutive effect of certain stock options since their impact is anti-dilutive. For the year ended August 31, 2019, 6,126,210 options were excluded from the diluted earnings per share calculation (2018 – 4,263,940). |
Dividends (Narrative) (Details)
Dividends (Narrative) (Details) - CAD ($) $ / shares in Units, $ in Millions | Oct. 24, 2019 | Jun. 30, 2016 | Sep. 30, 2019 | Aug. 31, 2019 | Oct. 25, 2019 | Jun. 27, 2019 |
Class B Non-Voting Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Additional dividend rate | $ 0.0025 | |||||
Discount from dividend reinvestment plan | 2.00% | |||||
Series A Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividend payment rate period | 5 years | |||||
Dividend payment rate | 4.50% | 2.791% | ||||
Dividends payable, amount per share | $ 0.17444 | |||||
Series B Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividend payment rate period | 5 years | |||||
Shares issued upon conversion | 1,987,607 | |||||
Dividends payable, amount per share | $ 0.23044 | |||||
5-year Government of Canada Bond Yield [Member] | Series A Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividend payment rate, variable | 2.00% | |||||
Three-month Government of Canada Treasury Bill [Member] | Series B Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividend payment rate, variable | 2.00% | |||||
Subsequent Event [Member] | Class A Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividends payable, amount per share | $ 0.098542 | |||||
Subsequent Event [Member] | Class B Non-Voting Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Discount from dividend reinvestment plan | 0.00% | |||||
Dividends payable, amount per share | 0.09875 | |||||
Subsequent Event [Member] | Series A Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividends payable, amount per share | 0.17444 | |||||
Dividends paid, other shares | $ 2 | |||||
Subsequent Event [Member] | Series B Preferred Shares [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Dividends payable, amount per share | $ 0.22738 | |||||
Dividends paid but not yet recognized | $ 1 |
Dividends (Floating Quarterly D
Dividends (Floating Quarterly Dividend Rate) (Details) - Series B Preferred Shares [Member] | 12 Months Ended |
Aug. 31, 2019 | |
June 30, 2016 to September 29, 2016 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.539% |
September 30, 2016 to December 30, 2016 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.512% |
December 31, 2016 to March 30, 2017 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.509% |
March 31, 2017 to June 29, 2017 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.48% |
June 30, 2017 to September 29, 2017 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.529% |
September 30, 2017 to December 30, 2017 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.742% |
December 31, 2017 to March 30, 2018 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.872% |
March 31, 2018 to June 29, 2018 [member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.171% |
June 30, 2018 to September 29, 2018 [member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.30% |
September 30, 2018 to December 30, 2018 [member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.509% |
December 31, 2018 to March 30, 2019 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.713% |
March 31, 2019 to June 29, 2019 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.682% |
June 30, 2019 to September 29, 2019 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.687% |
September 30, 2019 to December 30, 2019 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 3.638% |
Dividends (Dividends Declared)
Dividends (Dividends Declared) (Details) - $ / shares | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Class A Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | $ 1.1825 | $ 1.1825 |
Class B Non-Voting Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | 1.185 | 1.185 |
Series A Preferred Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | 0.6978 | 0.6978 |
Series B Preferred Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | $ 0.9119 | $ 0.7553 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss (Components Of Other Comprehensive Income And The Related Income Tax Effects) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of analysis of other comprehensive income by item [line items] | ||
Derivative instruments accounted for as hedges | $ 3 | $ 7 |
Change in unrealized fair value of derivatives designated as cash flow hedges, Income taxes | (1) | (2) |
Derivative instruments accounted for as hedges, net of tax | 2 | 5 |
Adjustment for hedged itmes recognized in the period, Amount | (3) | 4 |
Adjustment for hedged itmes recognized in the period, Income taxes | 1 | (1) |
Change in unrealized fair value of derivatives designated as cash flow hedges, Net | (2) | 3 |
Share of other comprehensive income of associates, Amount | (13) | 10 |
Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax | (13) | 10 |
Items that may subsequently be reclassified to net income, Amount | (16) | 21 |
Items that may subsequently be reclassified to net income, Income taxes | 0 | (3) |
Items that may subsequently be reclassified to net income, Net | (16) | 18 |
Remeasurements on employee benefit plans, Amount | (52) | 101 |
Remeasurements on employee benefit plans, Income taxes | 13 | (27) |
Remeasurements on employee benefit plans, Net | (39) | 74 |
Other comprehensive income, Amount | (68) | 122 |
Other comprehensive income, Income taxes | 13 | (30) |
Other comprehensive income (loss) | (55) | $ 92 |
Reclassification of accumulated exchange differences to income related to the sale of a foreign operation, Amount | $ (3) |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss (Accumulated Other Comprehensive Loss) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of analysis of other comprehensive income by item [line items] | ||
Reclassification of accumulated gain to income related to the sale of an associate | $ (3) | $ 0 |
Remeasurements on employee benefit plans | (39) | 74 |
Accumulated other comprehensive loss [Member] | ||
Disclosure of analysis of other comprehensive income by item [line items] | ||
Change in unrealized fair value of derivatives designated as cash flow hedges | 1 | 0 |
Share of other comprehensive income of associates | 18 | 18 |
Reclassification of accumulated gain to income related to the sale of an associate | (18) | 0 |
Remeasurements on employee benefit plans | (95) | (57) |
Accumulated other comprehensive (loss) income | $ (94) | $ (39) |
Revenue (Contract Assets And Li
Revenue (Contract Assets And Liabilities) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Contract Assets [Abstract] | ||
Opening balance | $ 135 | $ 59 |
Increase in contract assets from revenue recognized during the period | 179 | 198 |
Contract assets transferred to trade receivables | (145) | (118) |
Increase Decrease Through Cumulative Catchup Adjustments To Revenue Arising From Contract Modification Contract Assets | (11) | (4) |
Ending balance | 158 | 135 |
Contract Liabilities [Abstract] | ||
Opening balance | 244 | 235 |
Revenue recognized included in contract liabilities at the beginning of the year | 236 | 225 |
Increase in contract liabilities during the period | 230 | 234 |
Ending balance | $ 238 | $ 244 |
Revenue (Schedule Of Contract A
Revenue (Schedule Of Contract Assets And Liabilities) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Contract Assets [Abstract] | |||
Current portion of contract assets | $ 106 | $ 103 | $ 31 |
Contract assets | 52 | 32 | 28 |
Balance | 158 | 135 | 59 |
Contract Liabilities [Abstract] | |||
Current portion of contract liabilities | 223 | 226 | 214 |
Contract liabilities | 15 | 18 | 21 |
Balance | $ 238 | $ 244 | $ 235 |
Revenue (Deferred Commission Co
Revenue (Deferred Commission Cost Assets) (Details) - CAD ($) $ in Millions | 12 Months Ended | |||
Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | ||||
Opening balance | $ 48 | |||
Additions to deferred commission cost assets | 123 | $ 138 | ||
Amortization recognized on deferred commission cost assets | 112 | 97 | ||
Ending balance | 59 | 48 | ||
Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | ||||
Balance | 48 | 48 | $ 59 | $ 48 |
Costs to obtain contracts with customers [member] | ||||
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | ||||
Opening balance | 75 | 57 | ||
Amortization recognized on deferred commission cost assets | 66 | 52 | ||
Ending balance | 94 | 75 | ||
Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | ||||
Current | 59 | 50 | ||
Long-term | 35 | 25 | ||
Balance | $ 75 | $ 57 | $ 94 | $ 75 |
Revenue (Disaggregation Of Reve
Revenue (Disaggregation Of Revenue) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 5,340 | $ 5,189 |
Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 4,994 | 4,856 |
Equiptment and Other [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 353 | 337 |
Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 5,347 | 5,193 |
Intersegment Eliminations [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | (7) | (4) |
Wireless [Member] | Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 694 | 564 |
Wireless [Member] | Equiptment and Other [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 353 | 337 |
Wireless [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 1,047 | 901 |
Wireline [Member] | Service [Member] | Consumer [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 3,707 | 3,725 |
Wireline [Member] | Service [Member] | Business [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 593 | 567 |
Wireline [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 4,300 | $ 4,292 |
Revenue (Remaining Performance
Revenue (Remaining Performance Obligations) (Details) $ in Millions | Aug. 31, 2019CAD ($) |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | $ 4,465 |
Wireline [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 3,958 |
Wireless [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 507 |
Within 1 year [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 3,109 |
Within 1 year [Member] | Wireline [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 2,747 |
Within 1 year [Member] | Wireless [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 362 |
Within 2 years [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 1,356 |
Within 2 years [Member] | Wireline [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | 1,211 |
Within 2 years [Member] | Wireless [Member] | |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |
Remaining performance obligations | $ 145 |
Operating, General And Admini_3
Operating, General And Administrative Expenses And Restructuring Costs (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |||
Employee salaries and benefits | [1] | $ 663 | $ 1,158 |
Purchase of goods and services | 2,514 | 2,420 | |
Total operating costs | 3,177 | 3,578 | |
Employee-related restructuring costs | $ 9 | $ 423 | |
[1] | For the year ended August 31, 2019, employee salaries and benefits include a recovery of $9 in employee-related restructuring costs compared to $423 in restructuring costs for the year ended August 31, 2018. |
Other Gains (Losses) (Schedule
Other Gains (Losses) (Schedule Of Other Losses) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Other Gains (Losses) [Abstract] | |||
Net foreign exchange gain/(loss) recognized on the translation and settlement of current monetary assets and liabilities | $ 5 | $ 1 | |
Gain on disposal of fixed assets | (32) | (15) | |
Gain on disposal of non-core business | 6 | 0 | |
Gain on disposal of investment | 15 | 0 | |
Other | [1] | (3) | 17 |
Total other (expense) income | $ 50 | $ 32 | |
[1] | Other gains (losses) generally includes realized and unrealized foreign exchange gains and losses on US dollar denominated current assets and liabilities and the Company’s share of the operations of Burrard Landing Lot 2 Holdings Partnership. |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - CAD ($) | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | $ 0 | |
Statutory income tax rate | 26.80% | 26.90% |
Capital Loss Carryforwards [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforwards for which no deferred income tax asset has been recognized | $ 44,000,000 | |
Non Capital Loss Carryforwards [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Carryforwards for which no deferred income tax asset has been recognized | $ 446,000,000 |
Income Taxes (Net Deferred Tax
Income Taxes (Net Deferred Tax Liability) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Income Taxes [Abstract] | |||
Deferred tax assets | $ 4 | $ 4 | $ 4 |
Deferred tax liabilities | (1,875) | (1,884) | (1,863) |
Net deferred tax liability | $ (1,871) | $ (1,880) | $ (1,859) |
Income Taxes (Significant Chang
Income Taxes (Significant Changes Recognized To Deferred Income Tax Assets (Liabilities)) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | $ (1,880) | $ (1,859) |
Recognized in statement of income | (4) | 9 |
Recognized in other comprehensive income | (13) | 30 |
Deferred tax assets (liabilities), end of period | (1,871) | (1,880) |
Property, Plant And Equipment And Software Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | (287) | (265) |
Recognized in statement of income | (12) | (22) |
Recognized in other comprehensive income | 0 | 0 |
Deferred tax assets (liabilities), end of period | (299) | (287) |
Broadcast Rights, Licences, Customer Relationships, Trademark And Brands [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | (1,733) | (1,680) |
Recognized in statement of income | 107 | (53) |
Recognized in other comprehensive income | 0 | 0 |
Deferred tax assets (liabilities), end of period | (1,626) | (1,733) |
Partnership Income [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | 29 | 39 |
Recognized in statement of income | (61) | (10) |
Recognized in other comprehensive income | 0 | 0 |
Deferred tax assets (liabilities), end of period | (32) | 29 |
Non Capital Loss Carryforwards [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | 68 | 51 |
Recognized in statement of income | 25 | 17 |
Recognized in other comprehensive income | 0 | 0 |
Deferred tax assets (liabilities), end of period | 93 | 68 |
Accrued Charges [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | 43 | (4) |
Recognized in statement of income | (63) | 77 |
Recognized in other comprehensive income | (13) | 30 |
Deferred tax assets (liabilities), end of period | $ (7) | $ 43 |
Income Taxes (Income Tax Expens
Income Taxes (Income Tax Expense Differs From Computed Amount Applying Statutory Rates To Income Before Income Taxes) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Income Taxes [Abstract] | ||
Current statutory income tax rate | 26.80% | 26.90% |
Income tax expense at current statutory rates | $ 228 | $ 45 |
Effect of tax rate changes | (102) | 28 |
Equity (income) loss of an associate not recognized | (12) | 54 |
Other | 4 | 1 |
Total income tax expense | $ 118 | $ 128 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Tax Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Income Taxes [Abstract] | |||
Income tax expense (recovery) | [1] | $ 114 | $ 137 |
Deferred tax expense (recovery) related to temporary differences | 106 | (37) | |
Deferred tax expense (recovery) from tax rate changes | (102) | 28 | |
Total income tax expense | $ 118 | $ 128 | |
[1] | The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Business Segment Information (I
Business Segment Information (Information On Operations By Segment) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | ||
Disclosure of operating segments [line items] | |||
Revenue | $ 5,340 | $ 5,189 | |
Operating income before restructuring costs and amortization | 2,154 | 2,057 | |
Restructuring costs | [1] | 9 | (446) |
Amortization | [1] | (1,038) | (1,025) |
Operating income from continuing operations | 1,125 | 586 | |
Interest | [1] | 258 | 248 |
Income tax expense (recovery) | [1] | 114 | 137 |
Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,347 | 5,193 | |
Interest | [1] | 256 | 247 |
Income tax expense (recovery) | [1] | 114 | 166 |
Intersegment Eliminations [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (7) | (4) | |
Other/Non-Operating [Member] | |||
Disclosure of operating segments [line items] | |||
Interest | [1] | 2 | 1 |
Income tax expense (recovery) | [1] | 0 | (29) |
Wireline [Member] | Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 4,300 | 4,292 | |
Operating income before restructuring costs and amortization | 1,955 | 1,915 | |
Wireless [Member] | Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,047 | 901 | |
Operating income before restructuring costs and amortization | $ 199 | $ 142 | |
[1] | The Company does not report restructuring costs, amortization, interest or cash taxes on a segmented basis. |
Business Segment Information (C
Business Segment Information (Capital Expenditures) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of operating segments [line items] | ||
Total of capital expenditures and equipment costs (net) | $ 1,298 | $ 1,301 |
Additions to property, plant and equipment | 1,109 | 1,121 |
Additions to equipment costs (net) | 42 | 49 |
Additions to other intangibles | 147 | 131 |
Less: Proceeds on disposal of property, plant and equipment | (59) | (9) |
Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 1,169 | 1,308 |
Total of capital expenditures and equipment costs (net) | 1,212 | 1,361 |
Increase (decrease) in working capital and other liabilities related to capital expenditures | (28) | 65 |
Decrease in customer equipment financing receivables | 1 | 4 |
Less: Proceeds on disposal of property, plant and equipment | (59) | (9) |
Wireline [Member] | Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 784 | 965 |
Equipment costs (net of revenue) | 43 | 53 |
Total of capital expenditures and equipment costs (net) | 827 | 1,018 |
Wireless [Member] | Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 385 | 343 |
Total of capital expenditures and equipment costs (net) | $ 385 | $ 343 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | 12 Months Ended | |
Aug. 31, 2019CAD ($) | Aug. 31, 2018CAD ($) | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Commitment for maintenance and licence fees for equipment, period | 15 | |
Repairs and maintenance expense | $ 84 | $ 84 |
Rental expense | 164 | $ 153 |
Capital commitments | 181 | |
Guarantee instruments | 6 | |
Additional liability recorded as guarantees | $ 0 | |
Minimum [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Indemnification period | 2 | |
Maximum [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Indemnification period | 4 |
Commitments And Contingencies_3
Commitments And Contingencies (Long-Term Operating Commitments) (Details) $ in Millions | Aug. 31, 2019CAD ($) |
Disclosure of finance lease and operating lease by lessee [line items] | |
Lease of transmission facilities and premises | $ 474 |
Lease and maintenance of transponders | 445 |
Purchase obligations | 983 |
Long-term operating commitments | 1,902 |
2020 [Member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Long-term operating commitments | 681 |
2021 - 2024 [Member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Long-term operating commitments | 859 |
Thereafter [Member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Long-term operating commitments | $ 362 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) $ in Millions | 12 Months Ended | |
Aug. 31, 2019CAD ($)item | Aug. 31, 2018CAD ($) | |
Disclosure of defined benefit plans [line items] | ||
Voluntary employee contributions | 25.00% | |
Number of denfined benefit plans | item | 2 | |
Length of service for eligible benefits | 3 years | |
Post-retirement benefit plan expense | $ 12 | $ 16 |
Estimate of contributions expected to be paid to plan for next annual reporting period | 6 | |
Discount Rate [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 88 | |
Rate Of Compensation Increase [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 14 | |
Defined Benefit Plans - Non-Union [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Employer contribution on eligible earnings, percentage | 5.00% | |
Post-retirement benefit plan expense | $ 31 | 32 |
Defined Benefit Plans - Union [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Employer contribution on eligible earnings, percentage | 9.80% | |
Post-retirement benefit plan expense | $ 23 | 21 |
SERP [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 17 years 2 months 12 days | |
Post-retirement benefit plan expense | $ 6 | $ 8 |
SERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.90% | 3.70% |
SERP [Member] | Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.70% | 3.70% |
ERP [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 20 years | |
Post-retirement benefit plan expense | $ 6 | $ 8 |
ERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.90% | 3.70% |
ERP [Member] | Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.70% | 3.70% |
Other Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 17 years 2 months 12 days | |
Effect of changes in demographic assumptions | $ 1 | $ (1) |
Other Benefit Plans [Member] | Discount Rate [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Effect of changes in demographic assumptions | $ 1 | |
Other Benefit Plans [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.90% | 3.70% |
Other Benefit Plans [Member] | Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.70% | 3.80% |
Employee Benefit Plans (Accrued
Employee Benefit Plans (Accrued Benefit Liabilities Recognized) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 |
Disclosure of defined benefit plans [line items] | ||
Accrued benefit obligation | $ 505 | $ 446 |
Fair value of plan assets | 436 | 436 |
Accrued benefit liabilities and deficit | $ 69 | $ 10 |
Employee Benefit Plans (Change
Employee Benefit Plans (Change In Benefit Obligation And Funding Status And The Fair Value Of Plan Assets) (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Feb. 28, 2018 | Aug. 31, 2019 | Aug. 31, 2018 | ||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | $ 10 | |||
Current service cost | 11 | $ 14 | ||
Effect of experience adjustments | $ 85 | |||
Net defined benefit liability (asset), ending balance | 69 | 10 | ||
Accrued Benefit Obligation [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 446 | 532 | ||
Current service cost | 11 | 14 | ||
Interest cost (income) | 17 | 18 | ||
Payment of benefits to employees | (18) | (25) | ||
Transfer from DC plan | 1 | 3 | ||
Effect of changes in demographic assumptions | (4) | (5) | ||
Effect of change in financial assumptions | 56 | 0 | ||
Effect of experience adjustments | [1] | (4) | (91) | |
Net defined benefit liability (asset), ending balance | 505 | 446 | ||
Fair Value Of Plan Assets [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 436 | 433 | ||
Employer contributions | 5 | 5 | ||
Interest cost (income) | (16) | 16 | ||
Payment of benefits to employees | (19) | (25) | ||
Transfer from DC plan | 1 | 3 | ||
Return on plan assets, excluding interest income | (3) | 4 | ||
Net defined benefit liability (asset), ending balance | 436 | 436 | ||
SERP [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 8 | |||
Current service cost | 5 | 6 | ||
Net defined benefit liability (asset), ending balance | 61 | 8 | ||
SERP [Member] | Accrued Benefit Obligation [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 429 | 518 | ||
Current service cost | 5 | 6 | ||
Interest cost (income) | 16 | 17 | ||
Payment of benefits to employees | (17) | (18) | ||
Transfer from DC plan | 0 | 0 | ||
Effect of changes in demographic assumptions | (4) | (5) | ||
Effect of change in financial assumptions | 53 | 0 | ||
Effect of experience adjustments | [1] | (4) | (89) | |
Net defined benefit liability (asset), ending balance | 478 | 429 | ||
SERP [Member] | Fair Value Of Plan Assets [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 421 | 420 | ||
Employer contributions | 0 | 0 | ||
Interest cost (income) | (15) | (15) | ||
Payment of benefits to employees | (17) | (18) | ||
Transfer from DC plan | 0 | 0 | ||
Return on plan assets, excluding interest income | (2) | 4 | ||
Net defined benefit liability (asset), ending balance | 417 | 421 | ||
ERP [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 2 | |||
Current service cost | 6 | 8 | ||
Net defined benefit liability (asset), ending balance | 8 | 2 | ||
ERP [Member] | Accrued Benefit Obligation [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 17 | 14 | ||
Current service cost | 6 | 8 | ||
Interest cost (income) | 1 | 1 | ||
Payment of benefits to employees | (1) | (7) | ||
Transfer from DC plan | 1 | 3 | ||
Effect of changes in demographic assumptions | 0 | 0 | ||
Effect of change in financial assumptions | 3 | 0 | ||
Effect of experience adjustments | [1] | 0 | (2) | |
Net defined benefit liability (asset), ending balance | 27 | 17 | ||
ERP [Member] | Fair Value Of Plan Assets [Member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Net defined benefit liability (asset), beginning balance | 15 | 13 | ||
Employer contributions | 5 | 5 | ||
Interest cost (income) | (1) | (1) | ||
Payment of benefits to employees | (2) | (7) | ||
Transfer from DC plan | 1 | 3 | ||
Return on plan assets, excluding interest income | (1) | 0 | ||
Net defined benefit liability (asset), ending balance | $ 19 | $ 15 | ||
[1] | In the second quarter of fiscal 2018, a remeasurement related to the effect of experience adjustments of $ 85 was recognized to reflect the decrease in the accrued benefit obligation due to demographic experience in the quarter. |
Employee Benefit Plans (Underly
Employee Benefit Plans (Underlying Plan Assets) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 |
Disclosure of fair value of plan assets [line items] | ||
Underlying plan assets | $ 436 | $ 436 |
SERP [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 206 | |
Fixed income securities | 72 | |
Equity securities - Canadian | 43 | |
Equity securities - Foreign | 96 | |
Underlying plan assets | 417 | |
ERP [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 14 | |
Fixed income securities | 2 | |
Equity securities - Canadian | 1 | |
Equity securities - Foreign | 2 | |
Underlying plan assets | $ 19 |
Employee Benefit Plans (Signifi
Employee Benefit Plans (Significant Weighted-Average Assumptions Used And Cost For The Plans) (Details) | Aug. 31, 2019 | Aug. 31, 2018 | |
SERP [Member] | Accrued Benefit Obligation [Member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Discount rate | 2.90% | 3.70% | |
Rate of compensation increase | [1] | 3.00% | 3.00% |
SERP [Member] | Benefit Cost [Member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Discount rate | 3.70% | 3.70% | |
Rate of compensation increase | [1] | 3.00% | 3.00% |
ERP [Member] | Accrued Benefit Obligation [Member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Discount rate | 2.90% | 3.70% | |
Rate of compensation increase | 3.00% | 3.00% | |
ERP [Member] | Benefit Cost [Member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Discount rate | 3.70% | 3.70% | |
Rate of compensation increase | 3.00% | 3.00% | |
[1] | Applies only to incentive compensation component of eligible pensionable earnings. |
Employee Benefit Plans (Net Pen
Employee Benefit Plans (Net Pension Benefit Plan Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | $ (11) | $ (14) |
Interest cost | 17 | 18 |
Interest income | (16) | (16) |
Pension expense | 12 | 16 |
SERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | (5) | (6) |
Interest cost | 16 | 17 |
Interest income | (15) | (15) |
Pension expense | 6 | 8 |
ERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | (6) | (8) |
Interest cost | 1 | 1 |
Interest income | (1) | (1) |
Pension expense | $ 6 | $ 8 |
Employee Benefit Plans (Chang_2
Employee Benefit Plans (Change In Accrued Post-Retirement Obligation) (Details) - Other Benefit Plans [Member] - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Accrued benefit obligation and plan deficit, beginning of year | $ 3 | $ 4 |
Effect of changes in demographic assumptions | (1) | 1 |
Accrued benefit obligation and plan deficit, end of year | $ 4 | $ 3 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Proceeds on sale of non-core business | $ 40 | $ 0 | |
Property, plant and equipment | 4,883 | 4,702 | $ 4,394 |
Noncore Property [Member] [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Proceeds on sale of non-core business | 45 | ||
Property, plant and equipment | 4 | ||
Gain on sale of property | 41 | ||
Director [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Collection, installation and maintenance services | 2 | 2 | |
Purchases | 12 | 12 | |
Network fees | 27 | 26 | |
Accounts payable and accrued liabilities | 4 | 4 | |
Corus [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Network fees | 124 | 133 | |
Accounts payable and accrued liabilities | 11 | 13 | |
Advertising fees | 2 | 4 | |
Programming fees | 16 | 16 | |
Administrative fees | 4 | 2 | |
Administrative, advertising and other services | 5 | 5 | |
Uplink of television signals | 8 | 8 | |
Internet services and lease of circuits | 1 | 1 | |
Burrard Landing Lot 2 Holding Partnership [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Accounts payable and accrued liabilities | 55 | ||
Leases as lessee | $ 10 | $ 12 |
Related Party Transactions (Sch
Related Party Transactions (Schedule Of Significant Subsidiaries) (Details) | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Shaw Cablesystems Limited [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Cablesystems G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Cablesystems (VCI) Ltd. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Envision Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Telecom Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Telecom G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Satellite Services Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Star Choice Television Network Incorporated [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shaw Satellite G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Freedom Mobile Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Related Party Transactions (S_2
Related Party Transactions (Schedule Of Compensation Expense Of Key Management Personnel And Board Of Directors) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of transactions between related parties [abstract] | ||
Short-term employee benefits | $ 29 | $ 25 |
Post-employment pension benefits | 9 | 8 |
Termination benefits | 0 | 7 |
Share-based compensation | 2 | 4 |
Total compensation | $ 40 | $ 44 |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Aug. 31, 2019CAD ($) | Aug. 31, 2018CAD ($) | Aug. 31, 2017CAD ($) | |
Disclosure of financial assets [line items] | |||
Impact on net income with one dollar change | $ 1 | $ 1 | |
Accounts receivable | 287 | 253 | $ 286 |
Provision for doubtful accounts | 98 | 59 | |
Past Due [Member] | |||
Disclosure of financial assets [line items] | |||
Accounts receivable | 158 | 123 | |
Forward Contract [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | $ 72 | $ 96 | |
Forward contracts purchase period | 12 months | 12 months | |
Average foreign exchange rate | 1.3115 | 1.2915 | |
Hypothetical exchange rate | 10.00% | ||
Hypothetical change resulting in a change to other comprehensive income | $ 7 | $ 9 |
Financial Instruments (Carrying
Financial Instruments (Carrying Values And Estimated Fair Values) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of fair value measurement of assets [line items] | |||
Long-term debt | $ 5,350 | $ 4,350 | |
Level 1 of fair value hierarchy [member] | Carrying Value [Member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Investment in publicly traded company | [1] | 0 | 615 |
Level 1 of fair value hierarchy [member] | Estimated Fair Value [Member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Investment in publicly traded company | [1] | 0 | 298 |
Level 2 of fair value hierarchy [member] | Carrying Value [Member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Long-term debt | [2] | 5,308 | 4,311 |
Level 2 of fair value hierarchy [member] | Estimated Fair Value [Member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Long-term debt | [2] | $ 6,014 | $ 4,788 |
[1] | Level 1 fair value – determined by quoted market prices. | ||
[2] | Level 2 fair value – determined by valuation techniques using inputs based on observable market data, either directly or indirectly, other than quoted prices. |
Financial Instruments (Undiscou
Financial Instruments (Undiscounted Contractual Maturities) (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||||
Short-term borrowings | $ 40 | $ 40 | $ 0 | ||
Accounts payable and accrued liabilities | 1,015 | [1] | 970 | $ 909 | |
Other long-term liabilities | 3 | ||||
Long-term debt repayable at maturity | 5,350 | 4,350 | |||
Interest payable | 2,505 | ||||
Accrued interest and dividends | 244 | $ 227 | |||
Within 1 year [Member] | |||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||||
Short-term borrowings | 40 | ||||
Accounts payable and accrued liabilities | [1] | 1,015 | |||
Other long-term liabilities | 0 | ||||
Long-term debt repayable at maturity | 1,251 | ||||
Interest payable | 217 | ||||
1-3 Years [Member] | |||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||||
Short-term borrowings | 0 | ||||
Accounts payable and accrued liabilities | [1] | 0 | |||
Other long-term liabilities | 1 | ||||
Long-term debt repayable at maturity | 802 | ||||
Interest payable | 360 | ||||
3-5 years [Member] | |||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||||
Short-term borrowings | 0 | ||||
Accounts payable and accrued liabilities | [1] | 0 | |||
Other long-term liabilities | 1 | ||||
Long-term debt repayable at maturity | 1,002 | ||||
Interest payable | 320 | ||||
Over 5 years [Member] | |||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||||
Short-term borrowings | 0 | ||||
Accounts payable and accrued liabilities | [1] | 0 | |||
Other long-term liabilities | 1 | ||||
Long-term debt repayable at maturity | 2,295 | ||||
Interest payable | $ 1,608 | ||||
[1] | Includes accrued interest and dividends of $ 244 . |
Consolidated Statements Of Ca_4
Consolidated Statements Of Cash Flows (Schedule Of Funds Flow From Continuing Operations) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Statement of cash flows [abstract] | ||
Net income from continuing operations | $ 733 | $ 39 |
Adjustments to reconcile net income to funds flow from operations: | ||
Amortization | 1,041 | 1,028 |
Deferred income tax expense (recovery) | 4 | (9) |
Stock-based compensation | 3 | 3 |
Defined benefit pension plans | 7 | 11 |
Equity/(income) loss of an associate or joint venture | (46) | 200 |
Gain on disposal of investment | 15 | 0 |
Net change in contract asset balances | (23) | (76) |
Gain on disposal of fixed assets and intangibles | (32) | (15) |
Other | (4) | (4) |
Funds flow from continuing operations | $ 1,777 | $ 1,177 |
Consolidated Statements Of Ca_5
Consolidated Statements Of Cash Flows (Schedule Of Interest And Income Taxes Paid And Interest Received) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Statement of cash flows [abstract] | ||
Interest paid | $ 230 | $ 239 |
Income taxes paid (net of refunds) | 166 | 155 |
Interest received | $ 29 | $ 4 |
Consolidated Statements Of Ca_6
Consolidated Statements Of Cash Flows (Schedule Of Non-Cash Transactions) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2019 | Aug. 31, 2018 | |
Statement of cash flows [abstract] | ||
Issuance of Class B Non-Voting Shares: Dividend reinvestment plan | $ 217 | $ 211 |
Capital Structure Management (D
Capital Structure Management (Details) - CAD ($) $ in Millions | Aug. 31, 2019 | Aug. 31, 2018 | Aug. 31, 2017 |
Capital Structure Management [Abstract] | |||
Cash | $ (1,446) | $ (384) | $ (507) |
Short-term borrowings | 40 | 40 | $ 0 |
Long-term debt repayable at maturity | 5,350 | 4,350 | |
Share capital | 4,605 | 4,349 | |
Contributed surplus | 26 | 27 | |
Retained earnings | 1,745 | 1,632 | |
Total | $ 10,320 | $ 10,014 |
Subsequent Events (Details)
Subsequent Events (Details) - CAD ($) $ in Millions | Nov. 15, 2019 | Oct. 01, 2019 | Nov. 21, 2019 | Oct. 24, 2019 | Aug. 31, 2019 | Nov. 02, 2018 |
Fixed Rate Senior Notes 3.80% due 2023 [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Interest rate (as a percent) | 380.00% | |||||
Principal amount | $ 500 | |||||
Fixed Rate Senior Notes 4.40% due 2028 [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Interest rate (as a percent) | 440.00% | |||||
Principal amount | $ 500 | |||||
Extended Credit Facility [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Debt | $ 1,500 | |||||
Ordinary shares class B [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Shares cancelled | 483,428 | |||||
Cancellation of shares | $ 13 | |||||
Ordinary shares class B [Member] | Maximum [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Number of shares authorised | 24,758,127 | |||||
Major ordinary share transactions [member] | Ordinary shares class B [Member] | Maximum [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Discount Shares Delivery | 2.00% | |||||
Major ordinary share transactions [member] | Ordinary shares class B [Member] | Minimum [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Discount Shares Delivery | 0.00% | |||||
Major debt repayment transaction [Member] | ||||||
Disclosure of non-adjusting events after reporting period [line items] | ||||||
Repayment of senior notes | $ 1,250 | |||||
Interest rate (as a percent) | 5.65% |
Uncategorized Items - sjr-20190
Label | Element | Value |
Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | $ 40,000,000 |
Equity Attributable To Owners Of Parent [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | 40,000,000 |
Accumulated Other Comprehensive Income [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | 0 |
Issued Capital [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | 0 |
Noncontrolling Interests [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | 0 |
Retained Earnings [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | 40,000,000 |
Share Premium [Member] | Increase Decrease Due To Application Of IFRS 15 [Member] | ||
Amount Of Reclassifications Or Changes In Presentation | ifrs-full_AmountOfReclassificationsOrChangesInPresentation | $ 0 |