Cover Page
Cover Page | 12 Months Ended |
Aug. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 40-F |
Amendment Flag | false |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2022 |
Document Period End Date | Aug. 31, 2022 |
Entity Registrant Name | Shaw Communications Inc. |
Entity Central Index Key | 0000932872 |
Entity File Number | 001-14684 |
Current Fiscal Year End Date | --08-31 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Emerging Growth Company | false |
Title of 12(b) Security | Class B Non-Voting Participating Shares |
Trading Symbol | SJR |
Security Exchange Name | NYSE |
ICFR Auditor Attestation Flag | true |
Entity Incorporation, State or Country Code | A0 |
Document Annual Report | true |
Document Registration Statement | false |
Entity Address, Address Line One | Suite 900 |
Entity Address, Address Line Two | 630 – 3rd Avenue S.W. |
Entity Address, City or Town | Calgary |
Entity Address, State or Province | AB |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | T2P 4L4 |
City Area Code | 403 |
Local Phone Number | 750-4500 |
Annual Information Form | true |
Audited Annual Financial Statements | true |
Auditor Name | Ernst & Young LLP |
Auditor Firm ID | 1263 |
Auditor Location | Calgary, Alberta |
Class A Participating Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 22,372,064 |
Class B Non-Voting Participating Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 477,175,098 |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | CT Corporation System |
Entity Address, Address Line One | 111 Eighth Avenue |
Entity Address, Address Line Two | 13th Floor |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10011 |
City Area Code | 212 |
Local Phone Number | 894-8940 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Current | ||
Cash | $ 421 | $ 355 |
Accounts receivable (note 3) | 332 | 301 |
Income taxes recoverable | 35 | 87 |
Inventories (note 4) | 92 | 63 |
Other current assets (note 5) | 360 | 331 |
Current portion of contract assets (note 22) | 63 | 97 |
Total Current assets | 1,303 | 1,234 |
Investments and other assets (notes 6 and 30) | 71 | 70 |
Property, plant and equipment (notes 7 and 14) | 5,883 | 6,019 |
Other long-term assets (notes 8 and 28) | 208 | 163 |
Deferred income tax assets (note 25) | 2 | 2 |
Intangibles (note 9) | 7,998 | 7,996 |
Goodwill (note 9) | 280 | 280 |
Contract assets (note 22) | 23 | 28 |
Total assets | 15,768 | 15,792 |
Current | ||
Short-term borrowings (note 10) | 200 | 200 |
Accounts payable and accrued liabilities (note 11) | 959 | 988 |
Provisions (note 12) | 45 | 46 |
Current portion of contract liabilities (note 22) | 200 | 213 |
Current portion of long-term debt (notes 13 and 30) | 1 | 1 |
Current portion of lease liabilities (note 14) | 113 | 110 |
Current portion of derivatives | 0 | 2 |
Total Current liabilities | 1,518 | 1,560 |
Long-term debt (notes 13 and 30) | 4,552 | 4,549 |
Lease liabilities (note 14) | 1,017 | 1,135 |
Other long-term liabilities (notes 15 and 28) | 8 | 26 |
Provisions (note 12) | 81 | 77 |
Deferred credits (note 16) | 373 | 389 |
Contract liabilities (note 22) | 20 | 15 |
Deferred income tax liabilities (note 25) | 1,962 | 1,998 |
Total liabilities | 9,531 | 9,749 |
Commitments and contingencies (notes 12, 27 and 28) | ||
Shareholders' equity | ||
Common and preferred shareholders | 6,237 | 6,043 |
Total equity and liabilities | $ 15,768 | $ 15,792 |
Consolidated Statements of Inco
Consolidated Statements of Income - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Profit or loss [abstract] | ||
Revenue (notes 22 and 26) | $ 5,448 | $ 5,509 |
Operating, general and administrative expenses (note 23) | (2,914) | (3,009) |
Restructuring costs (notes 12 and 23) | 0 | (14) |
Amortization: | ||
Deferred equipment revenue (note 16) | 9 | 11 |
Deferred equipment costs (note 8) | (38) | (47) |
Property, plant and equipment, intangibles and other (notes 7, 9, 14 and 16) | (1,198) | (1,183) |
Operating income | 1,307 | 1,267 |
Amortization of financing costs - long-term debt (note 13) | (3) | (2) |
Interest expense (notes 13, 14 and 26) | (260) | (231) |
Other gains (losses) (note 24) | (23) | (2) |
Income before income taxes | 1,021 | 1,032 |
Current income tax expense (note 25) | 311 | 30 |
Deferred income tax expense / (recovery) (note 25) | (54) | 16 |
Net income | 764 | 986 |
Net income attributable to: | ||
Equity shareholders | $ 764 | $ 986 |
Earnings per share (note 19) | ||
Basic | $ 1.53 | $ 1.94 |
Diluted | $ 1.52 | $ 1.94 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Statement of comprehensive income [abstract] | ||
Net income | $ 764 | $ 986 |
Items that may subsequently be reclassified to income: | ||
Change in unrealized fair value of derivatives designated as cash flow hedges | 5 | (1) |
Adjustment for hedged items recognized in the period | 0 | 5 |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 5 | 4 |
Items that will not be subsequently reclassified to income: | ||
Remeasurements on employee benefit plans | 47 | 36 |
Total other comprehensive income | 52 | 40 |
Comprehensive income | 816 | 1,026 |
Comprehensive income attributable to: | ||
Equity shareholders | $ 816 | $ 1,026 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - CAD ($) $ in Millions | Total | Share capital [Member] | Contributed surplus [Member] | Retained Earnings [Member] | Accumulated other comprehensive loss [Member] | Equity attributable to owners of parent [Member] |
Beginning balance at Aug. 31, 2020 | $ 6,233 | $ 4,602 | $ 27 | $ 1,703 | $ (99) | $ 6,233 |
Net income | 986 | 986 | 986 | |||
Other comprehensive income | 40 | 40 | 40 | |||
Comprehensive income | 1,026 | 986 | 40 | 1,026 | ||
Dividends | (599) | (599) | (599) | |||
Shares issued under stock option plan | 18 | 19 | (1) | 18 | ||
Shares Repurchased | (336) | (129) | (207) | (336) | ||
Redemption of preferred shares (note 17) | (300) | (293) | (7) | (300) | ||
Share-based compensation | 1 | 1 | 1 | |||
Ending balance at Aug. 31, 2021 | 6,043 | 4,199 | 27 | 1,876 | (59) | 6,043 |
Net income | 764 | 764 | 764 | |||
Other comprehensive income | 52 | 52 | 52 | |||
Comprehensive income | 816 | 764 | 52 | 816 | ||
Dividends | (640) | (640) | (640) | |||
Shares issued under stock option plan | 17 | 18 | (1) | 17 | ||
Share-based compensation | 1 | 1 | 1 | |||
Ending balance at Aug. 31, 2022 | $ 6,237 | $ 4,217 | $ 27 | $ 2,000 | $ (7) | $ 6,237 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
OPERATING ACTIVITIES | ||
Funds flow from operations (note 31) | $ 1,992 | $ 2,249 |
Net change in non-cash balances | (161) | (326) |
Operating activities | 1,831 | 1,923 |
INVESTING ACTIVITIES | ||
Additions to property, plant and equipment (note 26) | (926) | (858) |
Additions to equipment costs (net) (note 26) | (12) | (21) |
Additions to other intangibles (note 26) | (158) | (138) |
Net additions to investments and other assets | (1) | (1) |
Proceeds on disposal of property, plant and equipment (notes 26 and 31) | 18 | 21 |
Proceeds from leasehold inducement (note 14) | 4 | |
Investing activities | (1,075) | (997) |
FINANCING ACTIVITIES | ||
Repayment of long-term debt | (1) | (1) |
Payment of lease liabilities (note 14) | (114) | (110) |
Issue of Class B Shares | 17 | 18 |
Purchase of Class B Shares (note 17) | (336) | |
Redemption of preferred shares | (300) | |
Dividends paid on Class A Shares and Class B Shares | (592) | (597) |
Dividends paid on Series A Preferred Shares | (8) | |
Financing activities | (690) | (1,334) |
(Decrease) increase in cash | 66 | (408) |
Cash, beginning of year | 355 | 763 |
Cash, end of year | $ 421 | $ 355 |
Corporate Information
Corporate Information | 12 Months Ended |
Aug. 31, 2022 | |
Corporate Information And Statement Of Ifrs Compliance [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, businesses 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 (TSXV) and New York Stock Exchange (NYSE) (Symbol: TSX – SJR.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. Proposed Transaction On March Non-Voting Holders of Shaw Class A Shares and Class B Shares (other than the Shaw Family Living Trust, the controlling shareholder of Shaw, and related persons (collectively the “Shaw Family Shareholders”)) will receive $ per share in cash. The Shaw Family Shareholders will receive % of the consideration for their shares in the form of Class B Non-Voting Shares of Rogers (the “Rogers Shares”) on the basis of the volume-weighted average trading price for the Rogers Shares for the trading days ending March 12, 2021, and the balance in cash. The Rogers-Shaw Transaction is being implemented by way of a court-approved plan of arrangement under the Business Corporations Act Agreement to Sell Freedom Mobile to Quebecor On June 17, 2022, Rogers, Shaw and Quebecor Inc. (“Quebecor”) announced their agreement for the sale of Freedom Mobile Inc. (“Freedom”) to Quebecor for a purchase price of $2.85 The Share Purchase Agreement provides that Videotron, a subsidiary of Quebecor, will acquire all of the issued and outstanding shares of Freedom. Accordingly, Videotron will acquire the entire Freedom business, including all Freedom-branded wireless and Internet customers, and all of Freedom’s infrastructure, spectrum and retail locations, as well as all of Freedom’s existing backhaul and backbone arrangements. The Freedom Transaction also includes long-term agreements pursuant to which Rogers will provide Quebecor with transport services (including backhaul and backbone) and roaming services. Rogers and Quebecor will provide each other with customary transition services as are necessary to operate Freedom’s business for a reasonable period of time post-closing and to facilitate the separation of Freedom’s business from the other businesses and operations of Shaw and its affiliates. Pursuant to the Share Purchase Agreement, the Shaw Mobile-branded wireless subscribers will not be transferred to Videotron and will remain with Shaw. Status of the Proposed Transaction Regulatory Approvals and Related Proceedings For the Rogers-Shaw Transaction, consistent with the terms of the Arrangement Agreement, the parties made filings with each of the Canadian Radio-television and Telecommunications Commission (CRTC), the Commissioner, and ISED in April 2021. For the Freedom Transaction, consistent with the terms of the Share Purchase Agreement, the parties made filings with the Commissioner and ISED in June 2022. On March 24, 2022, the CRTC completed its comprehensive review and approved the transfer of Shaw’s licenced broadcasting undertakings to Rogers, marking an important milestone towards closing of the Rogers-Shaw Transaction. On May 9, 2022, the Commissioner filed applications to the Competition Tribunal (the “Tribunal”) seeking an order to prevent the Rogers-Shaw Transaction from proceeding and an interim injunction to prevent closing until the Commissioner’s case can be heard by the Tribunal. On May 30, 2022, the Commissioner’s interim injunction application was resolved on the basis that Rogers and Shaw agreed to not proceed with closing the Rogers-Shaw Transaction until either a negotiated settlement is agreed with the Commissioner or the Tribunal has ruled on the matter. As announced by the Company on July 6, 2022 and October 27, 2022, the respective mediation sessions between Rogers, Shaw, Quebecor and the Commissioner in July, 2022 and October, 2022, did not result in a resolution of the Commissioner’s objections to the proposed merger. As a result, the Tribunal hearing began on November 7, 2022. On October 25, 2022, the Minister of Innovation, Science, and Industry (the “Minister”) officially denied the application for the wholesale transfer of Freedom’s spectrum licences to Rogers, which is no longer being proposed. In connection with his ongoing review of the pending application to transfer Freedom’s spectrum licences to Videotron, the Minister gave notice that any spectrum licences acquired by Videotron must remain in Videotron’s possession for at le ast ten years and the Minister conveyed his expectation that prices for wireless services in Ontario and Western Canada would be comparable to what Videotron is currently offering in Quebec. Videotron subsequently announced that it is willing to accept these conditions. As previously disclosed, in order to permit continued engagement with the pending regulatory approval processes and related hearings, Rogers, Shaw and the Shaw Family Living Trust have agreed to extend the outside date for closing the Rogers-Shaw Transaction from July 31, 2022 to December 31, 2022 (which outside date may be further extended to January 31, 2023 at the option of Rogers or Shaw), demonstrating their commitment to completing this transformative combination. The outside date in the Share Purchase Agreement tracks the outside date in the Arrangement Agreement but can be extended beyond January 31, 2023 only with the consent of Videotron. Nonetheless, the time required to complete the Tribunal hearing, as well as receive ISED approval, including any appeals of the outcomes of any required regulatory process, is uncertain and could result in further delays in or prevent the closing of the Rogers-Shaw Transaction and the Freedom Transaction. |
Basis Of Presentation And Accou
Basis Of Presentation And Accounting Policies | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies Changes In Accounting Estimates And Errors [Abstract] | |
Basis Of Presentation And Accounting Policies | 2. BASIS OF PRESENTATION AND ACCOUNTING 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, 2022 and 2021, were approved by the Board of Directors on November 28, 2022 and authorized for issue. 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 statements of income are presented using the nature classification for expenses. Certain comparative figures have been reclassified to conform to the current year’s presentation. Basis of consolidation (i) Subsidiaries The consolidated financial statements include the accounts 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 fro m voting rights. Non-controlling non-controlling non-controlling (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 control 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 proportionate 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. Revenue and expenses The 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 charged 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 when (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 on certain long-term contracts are recognized using output methods based on products delivered, performance completed to date and time elapsed. Revenue from Cable, Internet, Phone, Direct-to-Home pay-per-use 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. Other 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, voice and data services, internet services), items are accounted 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 offers 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 revenues, 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 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 statements of financial position. When wireless equipment and services are bundled with wireline services, revenue is allocated across the Company’s segments based on the relative stand-alone selling prices of the goods and services delivered. 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 related 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 contract 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 Subscriber connection fees received from Cable, Internet, Phone and Wireless customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over two to 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 (iii) Deferred commission cost assets We defer the incremental cost to obtain or fulfill a contract with a customer over their 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 subscriber 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-line 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 equipment is generally sold to customers at cost or a subsidized price in order to expand the Company’s customer base. Recognition of deferred equipment revenue and 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 Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts for the estimated expected credit 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 DTH 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 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 includes 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 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 qualifying 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-line basis over the estimated useful lives of assets as follows: Asset Estimated Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 Satellite audio, video and data network equipment and DTH receiving equipment 3-15 Buildings 15-40 years Data processing 4-10 Other 4-20 The Company reviews the estimates of useful lives on a regular basis. Leases Leases are typically entered into for network infrastructure and equipment, including transponders, and land and buildings relating to the Company’s wireless and wireline networks, office space and retail stores. At inception of a contract, the Company assesses whether the contract contains a lease. A lease contract conveys the right to control the use of an identified asset for a period in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: • the contract involves the use of an identified asset; • the Company has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and • the Company has the right to direct the use of the identified asset. Lease liabilities are initially measured at the present value of future lease payments at the commencement date, discounted using the interest rate implicit in the lease or, if not readily determinable, the Company’s incremental borrowing rate. A single incremental borrowing rate is applied to a portfolio of leases with similar characteristics. Lease payments included in the measurement of the lease liability consist of: • fixed payments, including in-substance • variable lease payments that depend on an index or rate; • amounts expected to be payable under a residual value guarantee; and • payments relating to purchase options and renewal option periods that are reasonably certain to be exercised, or periods subject to termination options that are not reasonably certain to be exercised. The initial lease term included in the measurement of the lease liability consists of: • the non-cancellable • periods covered by options to extend the lease, where the Company is reasonably certain to exercise the option; and • periods covered by options to terminate the lease, where the Company is reasonably certain not to exercise the option. Lease liabilities are subsequently measured at amortized cost. Lease liabilities are remeasured when there is a lease modification, and a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use Interest expense Variable lease payments that do not depend on an index or rate are not included in the measurement of lease liabilities and right-of-use Operating, general and administrative expenses Right-of-use right-of-use Property, plant and equipment. If the Company obtains ownership of the leased asset by the end of the lease term or the costs of the right-of-use right-of-use right-of-use Right-of-use right-of-use Amortization – Property , plant and equipment 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 , (ii) the non-current portion of wireless handset discounts receivable as described in the revenue and expenses accounting policy, (iii) credit facility arrangement fees amortized on a straight-line basis over the term of the facility, (iv) long-term receivables, (v) network 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 and amortized on a straight-line basis over two to . 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 acquired 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 rights 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 historical 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 lives 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% (2021 – 5%). 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 impaired. 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 flows 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 recognized. Impairment losses relating to goodwill cannot be reversed in future periods. (ii) Non-financial For non-financial 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 outflow 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. Provisions 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 basis, 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 passage 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 carried out. (iii) Other provisions Provisions for disputes, legal claims and contingencies are recognized when an outflow to settle the matter is probable. 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, and (iii) a deposit on a future fibre sale. 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 liabilities 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 taxes 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 any 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 non-monetary Financial instruments other than derivatives 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 financial instruments have been classified as FVTPL and are recorded 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 Company’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 non-financial held-for-trading 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 judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value hierarchy is based 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 independent 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 assets 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 August 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, 2022 and the next actuarial valuations for funding purposes are effective August 31, 2023. Share-based compensation The Company has a stock option plan for directors, officers, employees, and consultants to the Company. The exercise price of options to purchase Class B Shares is determined by the Board, or a committee thereof, at a price not less than the closing price of the Class B Shares on the TSX on the trading day immediately preceding the date on which the options are granted. 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 employees 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 grant 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 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-Scholes option pricing model and the number of outstanding RSUs and PSUs. For PSUs, 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 payout is zero, while maximum performance is capped at 150%. On settlement of vested PSUs, the number of Class B 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 fair 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 compensation. 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. Earnings per share Basic earnings per share 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 Shares outstanding during the period. Diluted earnings per 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 Shares at the average market price during the period. 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 any payments under the guarantees. 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 significant 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 accounts The Company is required to make an estimate of expected credit losses 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 wireline and wireless products and services, the identification of performance obligations within a contract and the timing of satisfaction of performance obligations 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 result 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 judgment. In determining these estimates, the Company takes into account industry trends and company-specific factors, including changing technologies and expectations for the in-service (iv) Leases The application of IFRS 16 requires the Company to make judgments that affect the valuation of the lease liabilities and the valuation of right-of-use (v) Business combinations – purchase price allocation Purchase price allocations involve uncertainty because management is required to make assumptions 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 cash flow (DCF) analysis. Such estimates include ass |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Aug. 31, 2022 | |
Trade and other current receivables [abstract] | |
Accounts Receivable | 3. ACCOUNTS RECEIVABLE 2022 2021 Subscriber and trade receivables 362 362 Miscellaneous receivables 37 17 399 379 Less allowance for doubtful accounts (note 30) (67 ) (78 ) 332 301 Included in operating, general and administrative expenses is a provision for doubtful accounts of $28 (2021 – $25). |
Inventories
Inventories | 12 Months Ended |
Aug. 31, 2022 | |
Classes of current inventories [abstract] | |
Inventories | 4. INVENTORIES 2022 2021 Wireless devices and accessories 52 33 DTH subscriber equipment 40 23 Other – built to suit – 7 92 63 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Aug. 31, 2022 | |
Other Current Assets [Abstract] | |
Other Current Assets | 5. OTHER CURRENT ASSETS 2022 2021 Prepaid expenses 113 103 Costs incurred to obtain or fulfill a contract with a customer (note 22) 66 59 Wireless handset receivables 176 168 Current portion of derivatives 5 1 360 331 |
Investments And Other Assets
Investments And Other Assets | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Investments And Other Assets [Abstract] | |
Investments And Other Assets | 6. INVESTMENTS AND OTHER ASSETS 2022 2021 Investments in private entities 71 70 The Company has a portfolio of minor investments in various private entities. During fiscal 2021, the Company recorded a net fair value adjustment of $27 relating to these investments. This gain is included in other gains (losses) on the Consolidated Statements of Income for the year ended August 31, 2021. |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, Plant And Equipment | 7. PROPERTY, PLANT AND EQUIPMENT August 31, 2022 August 31, 2021 Cost Accumulated amortization Net book value $ Cost $ Accumulated amortization Net book value $ Cable and telecommunications distribution system 7,653 4,091 3,562 7,475 3,957 3,518 Digital cable terminals and modems 868 509 359 853 541 312 Satellite audio, video and data network and DTH receiving equipment 114 70 44 106 66 40 Land and buildings 646 345 301 646 318 328 Data centre infrastructure, data processing and other 669 445 224 630 419 211 Assets under construction 337 – 337 417 – 417 Property, plant and equipment excluding right-of-use 10,287 5,460 4,827 10,127 5,301 4,826 Right-of-use (note 14) 1,470 414 1,056 1,474 281 1,193 Property, plant and equipment 11,757 5,874 5,883 11,601 5,582 6,019 Changes in the net carrying amounts of property, plant and equipment for 2022 and 2021 are summarized as follows: August 31, August 31, Net book value $ Additions Transfers Amortization Disposals and writedown Net book value $ Cable and telecommunications distribution system 3,518 554 129 (630 ) (9 ) 3,562 Digital cable terminals and modems 312 234 – (187 ) – 359 Satellite audio, video and data network and DTH receiving equipment 40 17 (1 ) (12 ) – 44 Land and buildings 328 – – (27 ) – 301 Data centre infrastructure, data processing and other 211 29 49 (64 ) (1 ) 224 Assets under construction 417 99 (176 ) – (3 ) 337 4,826 933 1 (920 ) (13 ) 4,827 August 31, August 31, Net book value $ Additions Transfers Amortization Disposals and writedown Net book value $ Cable and telecommunications distribution system 3,490 441 215 (625 ) (3 ) 3,518 Digital cable terminals and modems 358 146 – (196 ) 4 312 Satellite audio, video and data network and DTH receiving equipment 46 8 (1 ) (13 ) – 40 Land and buildings 352 4 2 (29 ) (1 ) 328 Data centre infrastructure, data processing and other 230 24 24 (52 ) (15 ) 211 Assets under construction 420 239 (242 ) – – 417 4,896 862 (2 ) (915 ) (15 ) 4,826 In 2022, the Company recognized a net gain of $5 (2021 – net g ain of $3) on the disposal of property, plant and equipment. |
Other Long-Term Assets
Other Long-Term Assets | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Other Long Term Assets [Abstract] | |
Other Long-Term Assets | 8. OTHER LONG-TERM ASSETS 2022 2021 Equipment costs subject to a deferred revenue arrangement 28 49 Long-term Wireless handset receivables 76 45 Costs incurred to obtain or fulfill a contract with a customer (note 22) 37 33 Credit facility arrangement fees 2 3 Net pension assets (note 28) 34 – Other 31 33 208 163 Amortization provided in the accounts for 2022 amounted to $38 (2021 – $47) and was recorded as amortization of deferred equipment costs. |
Intangibles And Goodwill
Intangibles And Goodwill | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangibles And Goodwill | 9. INTANGIBLES AND GOODWILL 2022 2021 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 2,445 Other intangibles Software 491 483 Customer relationships 33 39 7,998 7,996 Goodwill Cable and telecommunications systems 79 79 Wireless 201 201 280 280 Net book value 8,278 8,276 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, 2020 5,029 280 2,445 Additions – – – Disposition – – – August 31, 2021 5,029 280 2,445 Additions – – – Disposition – – – August 31, 2022 5,029 280 2,445 Intangibles subject to amortization are as follows: August 31, 2022 August 31, 2021 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 995 506 489 897 416 481 Software under construction 2 – 2 2 – 2 Customer relationships 114 81 33 114 75 39 1,111 587 524 1,013 491 522 The changes in the carrying amount of intangibles subject to amortization are as follows: Software Software under construction Customer relationships Total September 1, 2020 471 8 44 523 Additions 138 – – 138 Transfers 8 (6 ) – 2 Dispositions – – – – Amortization (136 ) – (5 ) (141 ) August 31, 2021 481 2 39 522 Additions 160 – – 160 Transfers (1 ) – – (1 ) Dispositions – – – – Amortization (151 ) – (6 ) (157 ) August 31, 2022 489 2 33 524 Impairment testing of indefinite-life intangibles and goodwill The Company performs its annual impairment test on goodwill and indefinite-life intangibles as at February 1 each year. As at February 1, 2022, there were no significant changes to the assets and liabilities making up the CGUs since the last test performed as at February 1, 2021. This prior year test resulted in a recoverable amount for each of the CGUs that exceeded carrying amounts by a substantial margin. Accordingly, the Company performed a qualitative assessment of the factors impacting the determination of recoverable amount and concluded that the likelihood that a recoverable amount calculation as at February 1, 2022, would be less than the carrying amount of the CGUs is remote. Any changes in economic conditions since February 1, 2022 for the Cable CGU do not represent events or changes in circumstance that would be indicative of impairment at August 31, 202 2 As more fully described in note 1, Rogers, Shaw, and Quebecor signed a definitive agreement for the sale of Freedom for a purchase price of $ 2.85 With respect to the Satellite CGU, during the fourth quarter, management revised its assumptions with respect to future revenues. This, combined with ongoing interest rate increases impacting previously assumed post-tax discount rates resulted in management performing an impairment assessment of the Satellite CGU a t A hypothetical decline of 10% in the recoverable amount of the broadcast rights and licences for the Satellite cash generating unit as at August 31, 2022 would result $ 69. Significant estimates inherent to these analyses include discount rates and the terminal value. As at August 31, 2022 for both Satellite and Wireless, the estimates that have been utilized in the impairment tests reflect any changes in market conditions and are as follows: Terminal value Post-tax discount rate Terminal growth rate Terminal operating Satellite 8.5 % -8.5 % 5.6x Wireless 7.8 % 2.5 % 8.7x A sensitivity analysis of significant estimates is conducted as part of every impairment test. With respect to the impairment tests performed as at August 31, 2022, 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 Satellite 5.2 % 4.0 % 5.0 % Wireless 15.6 % 12.9 % 2.2 % |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Detailed Information About Short Term Borrowings [Abstract] | |
Short-Term Borrowings | 10. SHORT-TERM BORROWINGS The Company has 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 $200. E ffective May 26, 2022, the Company amended the terms of its accounts receivable securitization program to extend the term of the program to May 31, 2023. The Company continues to service and 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 Statements 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 purpose. The buyer of the trade receivables has no claim on any of the Company’s other assets. A summary of our accounts receivable securitization program as at August 31, 2022 is as follows: 2022 2021 Accounts receivable securitization program, beginning of period 200 200 Repayment of accounts receivable securitization – – Accounts receivable securitization program, end of period 200 200 2022 2021 Trade accounts receivable sold to buyer as security (1) 321 416 Short-term borrowings from buyer (200 ) (200 ) Overcollateralization 121 216 (1) On August 26, 2022, all Freedom related upsale agreements for this program were terminated. |
Accounts Payable And Accrued Li
Accounts Payable And Accrued Liabilities | 12 Months Ended |
Aug. 31, 2022 | |
Accounts Payable And Accrued Liabilities [Abstract] | |
Accounts Payable And Accrued Liabilities | 11. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 2022 2021 Trade 133 112 Program rights 3 4 Accrued liabilities 422 521 Accrued network fees 117 117 Interest and dividends 260 210 Related parties (note 29) 24 24 959 988 |
Provisions
Provisions | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of other provisions [abstract] | |
Provisions | 12. PROVISIONS Asset retirement $ Restructuring (1) $ Other ( 2 Total Balance as at September 1, 2020 79 13 89 181 Additions (3 ) 14 13 24 Accretion 1 – – 1 Reversal (2) – – (58 ) (58 ) Payments – (25 ) – (25 ) Balance as at August 31, 2021 77 2 44 123 Additions 4 – 5 9 Accretion 1 – – 1 Reversal (1 ) – – (1 ) Payments – (1 ) (5 ) (6 ) Balance as at August 31, 2022 81 1 44 126 Current – 2 44 46 Long-term 77 – – 77 Balance as at August 31, 2021 77 2 44 123 Current – 1 44 45 Long-term 81 – – 81 Balance as at August 31, 2022 81 1 44 126 (1) In fiscal 2021 the Company made a number of changes to its organizational structure. A total of $ has been paid in fiscal 2022 relating to this and other prior period initiatives. The remaining costs are expected to be paid out within the next 5 months. ( 2 During the third quarter of fiscal 2021, the Company recorded a $20 reversal following the CRTC decision on final aggregated Third Party Internet Access rates and a $35 reduction of the interest expense provision. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Borrowings [Abstract] | |
Long-Term Debt | 13. LONG-TERM DEBT 2022 2021 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- 3.80% due November 2, 2023 3.80 499 1 500 499 1 500 4.35% due January 31, 2024 4.35 500 – 500 499 1 500 3.80% due March 1, 2027 3.84 299 1 300 299 1 300 4.40% due November 2, 2028 4.40 497 3 500 497 3 500 3.30% due December 10, 2029 3.41 496 4 500 496 4 500 2.90% due December 9, 2030 2.92 497 3 500 496 4 500 6.75% due November 9, 2039 6.89 1,422 28 1,450 1,421 29 1,450 4.25% due December 9, 2049 4.33 296 4 300 296 4 300 4,506 44 4,550 4,503 47 4,550 Other Burrard Landing Lot 2 Various 47 – 47 47 – 47 Total consolidated debt 4,553 44 4,597 4,550 47 4,597 Less current portion (2) 1 – 1 1 – 1 4,552 44 4,596 4,549 47 4,596 (1) Long-term debt is presented net of unamortized discounts and finance costs. (2) Current portion of long-term debt includes amounts due within one year in respect of the Burrard Landing loans. Corporate Bank loans The Company has an unsecured $1.5 billion bank credit facility, which includes a maximum revolving term or swingline facility of $50, with a syndicate of banks which matures in December 2024. The facility can be used for working capital and general corporate purposes. The terms of the Arrangement Agreement require that the Company maintain sufficient liquidity to pay an $800 million termination fee payable by Shaw in certain circumstances. Funds are available to the Company in both Canadian and US dollars. At August 31, 2022, $3 (2021 – $4) has been drawn as committed letters of credit against the revolving term facility. Interest rates fluctuate with Canadian prime and bankers’ acceptance rates, US bank base rates and LIBOR rates. Excluding the revolving term facility, the effective interest rate on actual borrowings under the credit facility during 2022 was nil (2021 – nil). The effective interest rate on the revolving term facility for 2022 was 3.90% (2021 – 3.62%). Senior notes The senior notes are unsecured obligations and rank equally and rateably 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 maturity at 100% of the principal amount plus a make-whole premium. Other Burrard Landing Lot 2 Holdings Partnership The Company has a 33.33% interest in the Partnership which built the Shaw Tower 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 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. Interest and principal payments commenced on April 1, 2019. 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. Monthly mortgage payments consist of both principal and interest components. 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, 2022. Long-term debt repayments Mandatory principal repayments on all long-term debt in each of the next five years and thereafter are as follows: $ 2023 1 2024 1,001 2025 45 2026 – 2027 300 Thereafter 3,250 4,597 Interest expense 2022 2021 Interest expense – long-term debt 223 223 Amortization of senior notes discounts 1 1 Interest income – short-term (net) (5 ) (4 ) Interest on lease liabilities (note 14) 41 45 Interest expense – other (1) – (34 ) 260 231 (1) Interest expense – other for the year ended August 31, 2021 includes a $35 million reduction of tax related interest expense resulting from a revision of liabilities for uncertain tax positions that became statute barred in the period . |
Leases
Leases | 12 Months Ended |
Aug. 31, 2022 | |
Presentation of leases for lessee [abstract] | |
Leases | 14. LEASES Below is a summary of the activity related to the Company’s right-of-use $ Net book value as at September 1, 2020 1,246 Additions 114 Amortization (139 ) Lease terminations and other (28 ) Net book value as at August 31, 2021 1,193 Additions 27 Amortization (133 ) Leasehold inducements (4 ) Lease terminations and other (27 ) Net book value as at August 31, 2022 1,056 Below is a summary of the activity related to the Company’s lease liabilities for the years ended August 31, 2022 and 2021. $ Balance as at September 1, 2020 1,270 Net additions 85 Interest on lease liabilities 45 Interest payments on lease liabilities (45 ) Principal payments of lease liabilities (110 ) Other – Balance as at August 31, 2021 1,245 Net additions 1 Interest on lease liabilities 41 Interest payments on lease liabilities (41 ) Principal payments of lease liabilities (114 ) Other (2 ) Balance as at August 31, 2022 1,130 Current 110 Long-term 1,135 Balance as at August 31, 2021 1,245 Current 113 Long-term 1,017 Balance as at August 31, 2022 1,130 Lease liabilities are subject to amortization schedules, which results in the principal being repaid over various periods, including reasonably expected renewals. The weighted average interest rate on lease liabilities was approximately 3.64% as at August 31, 2022. Refer to Note 30 for a maturity analysis of the Company’s lease liabilities. The Company leases Ku-band C-band Ku-band Below is a summary of the Company’s other expenses related to leases included in operating, general and administrative expenses. 2022 2021 Expenses related to variable lease components not included in lease liabilities 24 20 Expenses related to low-value 33 33 57 53 |
Other Long-Term Liabilities
Other Long-Term Liabilities | 12 Months Ended |
Aug. 31, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other Long-Term Liabilities | 15. OTHER LONG-TERM LIABILITIES 2022 2021 Pension liabilities (note 28) 4 21 Post retirement liabilities (note 28) 4 5 8 26 |
Deferred Credits
Deferred Credits | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Deferred Credits [Abstract] | |
Deferred Credits | 16. DEFERRED CREDITS 2022 2021 IRU prepayments 362 374 Equipment revenue 9 13 Deposit on future fibre sale 2 2 373 389 Amortization of deferred credits for 2022 amounted to $22 (2021 – $25) and was recorded in the accounts as described below. IRU agreements are in place for periods ranging from 11 to 60 years and are being amortized to income over the agreement periods. Amortization in respect of the IRU agreements for 2022 amounted to $13 (2021 – $13) and was recorded as other amortization. Amortization of equipment revenue for 2022 amounted to $9 (2021 – $11). |
Share Capital
Share Capital | 12 Months Ended |
Aug. 31, 2022 | |
Share Capital [Abstract] | |
Share Capital | 17. SHARE CAPITAL Authorized The Company is authorized to issue a limited number of Class A Shares of no par value, as described below; an unlimited number of Class B Shares of no par value; an unlimited number of Class 1 Preferred Shares issuable in series; and an unlimited number of Class 2 Preferred Shares issuable in series, of which 12,000,000 were designated Cumulative Redeemable Rate Reset Class 2 Preferred Shares, Series A (“Series A Shares”) and 12,000,000 were designated Cumulative Redeemable Floating Rate Class 2 Preferred Shares, Series B (“Series B 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 Shares. Issued and outstanding 2022 2021 2022 2021 Number of securities $ $ 22,372,064 22,372,064 Class A Shares 2 2 477,175,098 476,537,262 Class B Shares 4,215 4,197 – – Series A Shares – – – – Series B Shares – – 499,547,162 498,909,326 4,217 4,199 Class A Shares and Class B Shares Class A Shares are convertible at any time into an equivalent number of Class B Shares. In the event that a take-over bid is made for Class A Shares, in certain circumstances, the Class B Shares are convertible into an equivalent number of Class A Shares. Changes in Class A Share capital and Class B Share capital in 2022 and 2021 are as follows: Class A Shares Class B Shares Number $ Number $ September 1, 2020 22,372,064 2 490,632,833 4,307 Stock option exercises – – 681,980 19 Restricted Share Units – – 6,423 – Shares Repurchased – – (14,783,974 ) (129 ) August 31, 2021 22,372,064 2 476,537,262 4,197 Stock option exercises – – 627,751 18 Restricted Share Units – – 10,085 – August 31, 2022 22,372,064 2 477,175,098 4,215 Series A and B Shares The Series A Shares and Series B Shares represented series of Class 2 Preferred Shares that were classified as equity since redemption, at $25.00 per Series A Share and Series B Share, was at the Company’s option and payment of dividends was at the Company’s discretion. On June 30, 2021 (the “Redemption Date”), the Company redeemed all of its issued and outstanding Preferred Shares in accordance with their terms (as set out in the Company’s articles) at a price equal to $25.00 per Preferred Share (the “Redemption Price”), less any tax required to be deducted or withheld. On the Redemption Date, there were 10,012,393 Series A Shares and 1,987,607 Series B Shares issued and outstanding. Accordingly, the aggregate Redemption Price paid by Shaw on the Redemption Date to redeem the Preferred Shares was $300. Share transfer restriction The Articles of the Company empower the directors to refuse to issue or transfer any share of the Company 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 On November 2, 2020, the Company announced that it had received approval from the TSX to establish a normal course issuer bid (NCIB) program. The program commenced on November 5, 2020 and remained in effect until November 4, 2021. As approved by the TSX, the Company had the ability to purchase for cancellation up to 24,532,404 Class B Shares representing approximately 5% of all of the issued and outstanding Class B Shares as at October 22, 2020. During the year ended August 31, 2021, the Company purchased 14,783,974 Class B Shares for cancellation for a total cost of approximately $336 under the NCIB program. The average book value of the shares repurchased was $8.77 per share and was charged to share capital. The excess of the market price over the average book value, including transaction costs, was approximately $207 and was charged to retained earnings. In connection with the announcement of the Rogers-Shaw Transaction on March 15, 2021 (as discussed in more detail in Note 1), the Company suspended share buybacks under its NCIB program. Dividend Reinvestment Plan On October 24, 2019, in accordance with the terms of our Dividend Reinvestment Plan (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 reduced its discount from 2% to 0% for the Class B Shares delivered under the DRIP. These changes to the DRIP were applied to the dividends payable on November 28, 2019 to shareholders of record on November 15, 2019 and all other dividends payable thereafter. |
Share-Based Compensation And Aw
Share-Based Compensation And Awards | 12 Months Ended |
Aug. 31, 2022 | |
Share Based Payment Arrangements [Abstract] | |
Share-Based Compensation And Awards | 18. SHARE-BASED COMPENSATION AND AWARDS Stock option plan Under the Company’s stock option plan, directors, officers, employees, and consultants are eligible to receive stock options to acquire Class B Shares with terms not to exceed ten years from the date of grant and for such number of Class B Shares as the Board, or a committee thereof, determines in its discretion. An option is not immediately exercisable, but rather is exercisable on vesting dates determined by the Board from time to time. The Company’s current practice is to award options for terms of ten years with 20% of the options in a grant vesting on each of the first through fifth anniversaries of the grant date. The Board, or a committee thereof, may grant options at an exercise price not less than the closing price of the Class B Shares on the TSX on the trading day immediately preceding the date on which the options are granted. The maximum number of Class B Shares issuable under the plan may not exceed 62,000,000. As at August 31, 2022, 40,947,143 Class B Shares have been issued under the plan. Deferred share unit plan The Company has a DSU plan for its Board of Directors whereby directors may elect to receive their annual cash compensation, or a portion thereof, in DSUs and/or RSUs, provided that any director who has not met the applicable share ownership guideline is generally required to elect to receive at least 50% of his or her annual compensation in DSUs and/or RSUs. In addition, the Company may adjust and/or supplement directors’ compensation with periodic grants of DSUs. A DSU is a right that tracks the value of one Class B 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 Share at the time of payout. When cash dividends are paid on Class B 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 2022, $nil was recognized as compensation expense (2021 – $11). The carrying value and intrinsic value of DSUs at August 31, 2022 was $31 and $28, respectively (August 31, 2021 – $35 and $33, respectively). Employee share purchase plan Generally, all Canadian, non-unionized, During 2022, $6 was recorded as compensation expense (2021 – $5). The changes in options are as follows: 2022 2021 Number Weighted average exercise price $ Number Weighted average exercise price $ Outstanding, beginning of year 7,499,890 25.56 7,358,130 26.36 Granted – – 1,423,000 21.82 Forfeited (76,853 ) 24.82 (599,260 ) 26.33 Exercised (1) (627,751 ) 26.01 (681,980 ) 25.84 Outstanding, end of year 6,795,286 25.54 7,499,890 25.56 (1) The weighted average Class B Share price for the options exercised for the year ended August 31, 2022 was $37.35 (2021 – $33.67). The following table summarizes information about the options outstanding at August 31, 2022: Options outstanding Options exerciseable Range of prices Number outstanding Weighted average remaining contractual life Weighted average exercise price Number exercisable Weighted average exercise price $20.16 to $21.86 1,382,000 8.16 21.82 267,600 21.81 $21.87 to $26.17 1,312,159 3.28 24.35 1,266,359 24.33 $26.18 to $26.32 1,393,320 5.16 26.28 1,094,070 26.27 $26.33 to $27.42 1,366,825 4.71 27.04 1,082,425 27.07 $27.43 to $30.87 1,340,982 4.44 28.23 1,237,582 28.26 In connection with the announcement of the Rogers-Shaw Transaction on March 15, 2021, the company suspended option grants. The weighted average estimated fair value at the date of the grant for common share options granted for the year ended August 31, 2022 was therefore $nil (2021 – $1.42) 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 in the prior year: 2022 2021 Dividend yield N/A 5.43% Risk-free interest rate N/A 0.50% Expected life of options N/A 7 years Expected volatility factor of the future expected market price of Class B Shares N/A 20.00% Expected volatility has been estimated based on the historical share price volatility of the Company’s Class B 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 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 Share at the time of the payout. When cash dividends are paid on Class B 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 achievement 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 Shares issued or delivered, or the amount of cash payment will be multiplied by the applicable performance factor. During 2022, $11 was recognized as compensation expense (2021 – $22). The carrying value and intrinsic value of combined RSUs and PSUs at August 31, 2022 was $17 and $17, respectively (August 31, 2021 – $30 and $30, respectively). |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Aug. 31, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 19. EARNINGS PER SHARE Earnings per share calculations are as follows: 2022 2021 Numerator for basic and diluted earnings per share ($) Net income 764 986 Deduct: dividends on Preferred Shares – (7 ) Net income attributable to common shareholders 764 979 Denominator (millions of shares) Weighted average number of Class A Shares and Class B Shares for basic earnings per share 499 504 Effect of dilutive securities (1) 2 1 Weighted average number of Class A Shares and Class B Shares for diluted earnings per share 501 505 Earnings per share ($) Basic 1.53 1.94 Diluted 1.52 1.94 (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, 2022, nil options were excluded from the diluted earnings per share calculation (2021 – 174,031). |
Dividends
Dividends | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Dividends [Abstract] | |
Dividends | 20. DIVIDENDS Common share dividends The holders of Class A Shares and Class B Shares are entitled to receive such dividends as the Board of Directors determines to declare on a share-for-share non-cumulative Preferred share dividends Holders of the Series A Shares were entitled to receive, as and when declared by the Company’s Board of Directors, 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 was to be reset every five years at a rate equal to the then current 5-year On June 30, 2016, 1,987,607 Series A Shares were converted into an equal number of Series B Shares. The Series B Shares also represented a series of Class 2 preferred shares and holders were 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 Shares were set as follows: Period Annual Dividend Rate June 30, 2020 to September 29, 2020 2.255 % September 30, 2020 to December 30, 2020 2.149 % December 31, 2020 to March 30, 2021 2.109 % March 31, 2021 to June 29, 2021 2.073 % As noted in note 17, the Company redeemed all of the Series B Shares on June 30, 2021 and accordingly, the final dividends on the Preferred Shares were paid by Shaw on the Redemption Date. Dividend reinvestment plan The Company has a DRIP that allows holders of Class A Shares and Class B 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 Shares. For the two-month On October 25, 2019, in accordance with the terms of its 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 reduced its discount from 2% to 0% for the Class B Shares delivered under the DRIP. These changes to the DRIP applied to the dividends payable on November 28, 2019 to shareholders of record on November 15, 2019 and all other dividends payable thereafter. Dividends declared The dividends per share recognized as distributions to common shareholders for dividends declared during the year ended August 31, 2022 and 2021 are as follows: 2022 2021 Class A Voting Share Class B Share Class A Voting Share Class B Share 1.2810 1.2838 1.1825 1.1850 The dividends per share recognized as distributions to preferred shareholders for dividends declared during the year ended August 31, 2022 and 2021 are as follows: 2022 2021 Series A Share Series B Share Series A Share Series B Share – – 0.5233 0.3957 The Company declared thirteen months of dividends in fiscal 2022, with dividends on common shares declared up to and including December 2022 as at August 31, 2022. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of analysis of other comprehensive income by item [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 2022 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 6 (1 ) 5 Adjustment for hedged items recognized in the period – – – 6 (1 ) 5 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: 63 (16 ) 47 69 (17 ) 52 Components of other comprehensive income and the related income tax effects for 2021 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 (1 ) – (1 ) Adjustment for hedged items recognized in the period 6 (1 ) 5 5 (1 ) 4 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: 48 (12 ) 36 53 (13 ) 40 Accumulated other comprehensive loss is comprised of the following: 2022 2021 Items that may subsequently be reclassified to income Change in unrealized fair value of derivatives designated as cash flow hedges 3 (1 ) Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: (10 ) (58 ) (7 ) (59 ) |
Revenue
Revenue | 12 Months Ended |
Aug. 31, 2022 | |
Revenue [abstract] | |
Revenue | 22. REVENUE Contract assets and liabilities The table below provides a reconciliation of the significant changes to the current and long-term portion of contract assets and liabilities balances during the year. Contract Contract September 1 , 2020 172 225 Increase in contract assets from revenue recognized during the period 140 – Contract assets transferred to trade receivables (171 ) – Contract terminations transferred to trade receivables (16 ) – Revenue recognized included in contract liabilities at the beginning of the year – (219 ) Increase in contract liabilities during the period – 222 August 31, 2021 125 228 Increase in contract assets from revenue recognized during the period 93 – Contract assets transferred to trade receivables (112 ) – Contract terminations transferred to trade receivables (20 ) – Revenue recognized included in contract liabilities at the beginning of the year – (222 ) Increase in contract liabilities during the period – 214 August 31, 2022 86 220 Contract Contract Current 97 213 Long-term 28 15 Balance as at August 31, 2021 125 228 Current 63 200 Long-term 23 20 Balance as at August 31, 2022 86 220 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, 2022 and 2021. We believe these amounts to be recoverable 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 long-term assets. September 1 , 2020 98 Additions to deferred commission cost assets 75 Amortization recognized on deferred commission cost assets (81 ) August 31, 2021 92 Additions to deferred commission cost assets 93 Amortization recognized on deferred commission cost assets (82 ) August 31, 2022 103 Current 59 Long-term 33 Balance as at August 31, 2021 92 Current 66 Long-term 37 Balance as at August 31, 2022 103 Commission costs are amortized over a period ranging from 24 to 36 months. Disaggregation of revenue 2022 2021 Services Wireline 3,547 3,665 Wireline – Business 623 584 Wireless 972 891 5,142 5,140 Equipment and other Wireless 319 381 319 381 Intersegment eliminations (13 ) (12 ) Total revenue 5,448 5,509 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, 2022: Within Within Within Within Within Thereafter Total Wireline 1,763 732 164 84 26 3 2,772 Wireless 308 92 – – – – 400 Total 2,071 824 164 84 26 3 3,172 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. The estimated amounts disclosed are based upon contractual terms and maturities. Revenues recognized based on actual minimum transaction price, and the timing thereof, will differ from these estimates due to the frequency with which the actual durations of contracts with customers do not match their contractual maturities. |
Operating, General And Administ
Operating, General And Administrative Expenses And Restructuring Costs | 12 Months Ended |
Aug. 31, 2022 | |
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |
Operating, General And Administrative Expenses And Restructuring Costs | 23. OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES AND RESTRUCTURING COSTS 2022 2021 Employee salaries and benefits (1) 667 677 Purchases of goods and services 2,247 2,346 2,914 3,023 (1) For the year ended August 31, 2022, employee salaries and benefits include restructuring costs of $nil (2021 – $14). |
Other Gains (Losses)
Other Gains (Losses) | 12 Months Ended |
Aug. 31, 2022 | |
Other Gains (Losses) [Abstract] | |
Other Gains (Losses) | 24. OTHER GAINS (LOSSES) 2022 2021 Gain on disposal of fixed assets and intangibles 5 3 Costs associated with Rogers-Shaw Transaction (26 ) (23 ) Fair value adjustment of private investments – 27 Other (1) (2 ) (9 ) (23 ) (2 ) (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, 2022 | |
Income Taxes [Abstract] | |
Income Taxes | 25. 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: 2022 2021 Deferred tax assets 2 2 Deferred tax liabilities (1,962 ) (1,998 ) Net deferred tax liability (1,960 ) (1,996 ) 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 Capital Loss Total $ Balance at September 1 , 2020 (394 ) (1,634 ) (11 ) 106 (34 ) – (1,967 ) Recognized in statement of income (18 ) (16 ) (62 ) 56 21 3 (16 ) Recognized in other comprehensive – – – – (13 ) – (13 ) Balance at August 31, 2021 (412 ) (1,650 ) (73 ) 162 (26 ) 3 (1,996 ) Recognized in statement of income 19 (9 ) 88 (46 ) 2 – 54 Recognized in other comprehensive – – – – (18 ) – (18 ) Balance at August 31, 2022 (393 ) (1,659 ) 15 116 (42 ) 3 (1,960 ) The Company has capital loss carryforwards of approximately $28 for which no deferred income tax asset has been recognized in the accounts. These capital losses can be carried forward indefinitely. 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: 2022 2021 Current statutory income tax rate 25.4 % 25.5 % Income tax expense at current statutory rates 259 263 Net increase (decrease) in taxes resulting from: Recognition of previously unrecognized tax losses – (81 ) Revision to liabilities for uncertain tax positions – (125 ) Other (2 ) (11 ) Income tax expense 257 46 The statutory income tax rate for the Company decreased fro m 25.5% in 202 1 2 The components of income tax expense are as follows: 2022 2021 Current income tax expense 311 155 Current tax recovery from revision to liabilities for uncertain tax positions – (125 ) Deferred tax expense (recovery) related to temporary differences (54 ) 97 Deferred tax recovery from the recognition of previously unrecognized tax losses – (81 ) Income tax expense 257 46 |
Business Segment Information
Business Segment Information | 12 Months Ended |
Aug. 31, 2022 | |
Business Segment Information [Abstract] | |
Business Segment Information | 26. BUSINESS SEGMENT INFORMATION The Company’s chief operating decision makers are the Executive Chair & Chief Executive Officer, the President, and the Executive Vice President, Chief Financial & Corporate Development Officer and they review the operating performance of the Company by segments, which are comprised of Wireline and Wireless. The chief operating decision makers utilize adjusted earnings before interest, income taxes, depreciation and amortization (“adjusted EBITDA”) for each segment as a key measure in making operating decisions and assessing performance. The Wireline segment provides Cable telecommunications services including Video, Internet, WiFi, Phone, Satellite Video and data networking through a national fibre-optic backbone network to Canadian consumers, North American businesses and public-sector entities. The Wireless segment provides wireless services for voice and data communications serving customers in Ontario, British Columbia and Alberta through Freedom Mobile and in British Columbia and Alberta through Shaw Mobile. Both of the Company’s reportable segments are substantially located in Canada. Information on operations by segment is as follows: 2022 2021 Revenue Wireline 4,170 4,249 Wireless 1,291 1,272 5,461 5,521 Intersegment eliminations (13 ) (12 ) 5,448 5,509 Adjusted EBITDA (1) Wireline 2,049 2,107 Wireless 485 393 2,534 2,500 Restructuring costs – (14 ) Amortization (1,227 ) (1,219 ) Operating income 1,307 1,267 Interest Operating 258 228 Other/non-operating 2 3 260 231 Current taxes (2) Operating 315 161 Other/non-operating (4 ) (131 ) 311 30 (1) Adjusted EBITDA does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers; the Company defines adjusted EBITDA as revenues less operating, general and administrative expenses. (2) Current taxes are higher for the year ended August 31, 2022 due mainly to higher taxable income in the period and the impact of a prior year revision to liabilities for uncertain tax positions that became statute barred in the period of $125. Capital expenditures 2022 2021 Capital expenditures accrual basis Wireline 938 701 Wireless 135 280 1,073 981 Equipment costs (net of revenue) Wireline 14 22 Capital expenditures and equipment costs (net) Wireline 952 723 Wireless 135 280 1,087 1,003 Reconciliation to Consolidated Statements of Cash Flows Additions to property, plant and equipment 926 858 Additions to equipment costs (net) 12 21 Additions to other intangibles 158 138 Total of capital expenditures and equipment costs (net) per Consolidated Statements of Cash Flows 1,096 1,017 Increase in working capital and other liabilities related to capital accruals 13 4 Increase (decrease) in other liabilities related to ARO additions (4 ) 3 Less: Proceeds on disposal of property, plant and equipment (18 ) (21 ) Total capital expenditures and equipment costs (net) reported by segments 1,087 1,003 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Aug. 31, 2022 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | 27. COMMITMENTS AND CONTINGENCIES Commitments The Company has the following future minimum payments for their contractual commitments that are not recognized as liabilities as at August 31, 2022: Purchase (1) Property, Within one year 578 226 1 to 3 years 288 2 3 to 5 years 120 – Over 5 years 157 – 1,143 228 (1) Includes contractual obligations under service, product, and wireless device contracts, program related agreements and exclusive rights to use intellectual property in Canada. Contingencies 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 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 would indicate that the risk of loss is remote. At August 31, 2022, 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 or 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, 2022, such instruments amounted to $3. The Company has not recorded any additional liability with respect to these instruments, as the Company does not expect to make any payments in excess of what is recorded on the Company’s consolidated financial statements. The instruments mature at various dates during fiscal 2023 to fiscal 2025. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Aug. 31, 2022 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | 28. EMPLOYEE BENEFIT PLANS Defined contribution pension plans The Company has defined contribution pension plans for its non-union Defined benefit pension plans The Company has two non-registered assets and 2022 2021 Non-registered Accrued benefit obligation 385 489 Fair value of plan assets 415 468 Accrued benefit (assets) liabilities and deficit (30 ) 21 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 assets and liabilities. To mitigate some of the investment risk, the Company 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 obligations involves projecting future cash flows of the plans over a long time frame. This means that assumptions used can have a material impact on the consolidated 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-registered The Company provides a supplemental executive retirement plan (SERP) for certain of its senior executives and retirees. Benefits under this plan are based on the employees’ length of service and their highest three-year average rate of eligible pensionable 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 required 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 employees’ 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 assets. SERP ERP 2022 SERP ERP 2021 Accrued benefit obligation, beginning of year 447 42 489 477 36 513 Current service cost – 9 9 – 9 9 Interest cost 14 2 16 13 1 14 Payment of benefits to employees (20 ) (1 ) (21 ) (20 ) (2 ) (22 ) Transfer from DC plan – – – – 1 1 Remeasurements: Effect of changes in demographic assumptions – – – – – – Effect of changes in financial assumptions (81 ) (10 ) (91 ) (24 ) (3 ) (27 ) Effect of experience adjustments (16 ) (1 ) (17 ) 1 – 1 Accrued benefit obligation, end of year 344 41 385 447 42 489 Fair value of plan assets, beginning of year 428 40 468 415 30 445 Employer contributions – – – – 10 10 Interest income 13 1 14 11 – 11 Transfer from DC plan – – – – 1 1 Payment of benefits (20 ) (1 ) (21 ) (20 ) (2 ) (22 ) Return on plan assets, excluding interest income (43 ) (3 ) (46 ) 22 1 23 Fair value of plan assets, end of year 378 37 415 428 40 468 Accrued benefit (assets) liabilities and plan deficit, end of year (34 ) 4 (30 ) 19 2 21 The weighted average duration of the defined benefit obligation of the SERP and ERP at August 31, 2022 is 11.3 years and 12.2 years, respectively. The underlying plan assets of the SERP and ERP at August 31, 2022 are invested in the following: SERP ERP Cash and cash equivalents 207 22 Fixed income securities 62 5 Equity securities – Canadian 39 4 Equity securities – Foreign 70 6 378 37 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. Accrued benefit obligation 2022 2022 2021 2021 Discount rate 5.00 5.00 3.10 3.10 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 Benefit cost for the year 2022 2022 2021 2021 Discount rate 3.10 3.10 2.70 2.70 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, 2022 by $44. A one percentage point increase in the rate of compensation increase would have increased the accrued benefit obligation by $1. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the present value of the defined benefit obligation has been calculated using the projected benefit method which is the same method that is applied in calculating the defined benefit liability recognized in the consolidated statements 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 salaries and benefits expense, is comprised of the following components: SERP ERP 2022 SERP ERP 2021 Current service cost – 9 9 – 9 9 Interest cost 14 2 16 13 1 14 Interest income (13 ) (1 ) (14 ) (11 ) – (11 ) Pension expense 1 10 11 2 10 12 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 2022 2021 Accrued benefit obligation and plan deficit, beginning of year 5 4 Current service cost – – Interest cost – – Payment of benefits to employees – – Remeasurements: – Effect of changes in demographic assumptions – 1 Effect of changes in financial assumptions (1 ) (1 ) Effect of experience adjustments – 1 Accrued benefit obligation and plan deficit, end of year 4 5 The weighted average duration of the benefit obligation at August 31, 2022 is 13.8 years. The post-retirement benefit plan expense, which is included in employee salaries and benefits expense, is $nil (2021 – $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, 2022 were 5.00% and 3.10%, respectively (2021 – 3.10% and 2.70%, respectively). A one percentage point decrease in the discount rate would have increased the accrued benefit obligation at August 31, 2022 by $1. Employer contributions The Company’s estimated contributions to the defined benefit plans in fiscal 202 3 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Related Party Transactions | 29. RELATED PARTY TRANSACTIONS Controlling shareholder Voting control of the Company is held by Shaw Family Living Trust (SFLT) and its subsidiaries. As at August 31, 2022, SFLT and its subsidiaries held, directly or indirectly, or exercised control or direction over 17,662,400 Class A Shares, representing approximately 79% of the issued and outstanding Class A Shares, for the benefit of the descendants of the late JR Shaw and Carol Shaw. The sole trustee of SFLT is a private company controlled by a board consisting of seven directors, including as at August 31, 2022, Bradley S. Shaw, four other members of his family, and two independent directors. The Class A Shares are the only shares entitled to vote in all circumstances. Accordingly, SFLT and its subsidiaries are able to elect a majority of the Board of Directors of the Company and to control the vote on matters submitted to a vote of the Company’s Class A Shares. Significant investments in subsidiaries The following are the significant subsidiaries of the Company, all of which are incorporated or partnerships in Canada. Ownership Interest August 31, August 31, Shaw Cablesystems Limited 100 % 100 % Shaw Cablesystems G.P. 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: 2022 2021 Short-term employee benefits 18 20 Post-employment pension benefits 4 7 Share-based compensation 8 22 30 49 Transactions The Company paid $1 (2021 – $2) for collection, installation, and maintenance services to a company controlled by a Director of the Company. During the year, the Company paid $10 (2021 – $4) for remote control units to a supplier where Directors of the Company hold positions on the supplier’s board of directors. At August 31, 2022, the Company had $1 owing in respect of these transactions (2021 – $nil). During the year, network fees of $23 (2021 – $24) were paid to a programmer where a Director of the Company holds a position on the programmer’s board of directors. At August 31, 2022, the Company had $4 owing in respect of these transactions (2021 – $4). Other related parties The Company has entered into certain transactions and agreements in the normal course 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 $111 (2021 – $116), advertising fees of $5 (2021 – $5), and administrative fees of $1 (2021 – $1) were paid to various Corus subsidiaries and entities subject to significant influence. In addition, the Company provided administrative, advertising and other services for $1 (2021 – $1), uplink of television signals for $4 (2021 – $4), and Internet services and lease of circuits for $5 (2021 – $5). At August 31, 2022, the Company had a net of $19 owing in respect of these transactions (2021 – $20). As part of a regulatory requirement where Shaw pays Corus in lieu of either providing the news coverage directly or contributing into a fund managed by the CRTC, Shaw paid $12 (2021 – $12) as part of the Local News Community Investment program. The Company provided Corus with advertising spots in return for radio and television advertising. No monetary 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 $9 (2021 – $10) 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, 2022, the Company had a remaining lease liability of $48 (2021 – $57) in respect of the office space lease which is included in the amounts disclosed in Note 14. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Aug. 31, 2022 | |
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 entities which do not have quoted market prices in an active market and whose fair value cannot be readily measured are carried at estimated fair value based on information available with respect to investees’ operational and financing activities. No published market exists for such investments. These equity investments have been made as they are considered 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 are 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 value 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. (iv) Derivative financial instruments The fair value of US currency forward purchase contracts is determined using an estimated credit-adjusted mark-to-market The carrying value and estimated fair value of long-term debt are as follows: August 31, 2022 August 31, 2021 Carrying value Estimated fair value Carrying value Estimated fair value Liabilities Long-term debt (including current portion) (1) 4,553 4,470 4,550 5,263 (1) 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 strategies, 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 operating costs are incurred in US dollars, 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 operating costs, the Company regularly enters into forward contracts in respect of US dollar commitments. With respect to 2022, the Company entered into forward contracts to purchase US $132 over a period of 12 months commencing in September 2021 at an average exchange rate of 1.2666 Cdn. At August 31, 2022 the Company had forward contracts to purchase US $132 over a period of 12 months commencing September 2022 at an average exchange rate of 1.2756 Cdn in respect of US dollar commitments. Interest 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 an unsecured bank credit facility and various Canadian senior notes with varying maturities issued in the public markets as more fully described in Note 13. The Company also has an accounts receivable securitization program as described in Note 10. Interest on the Company’s unsecured bank credit facility and accounts receivable securitization program are based on floating rates, while the senior notes are fixed-rate obligations. When drawn, the Company utilizes its credit facility to finance day-to-day 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 other comprehensive income by $13 net of tax (2021 – $12). 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 arising from fluctuations in foreign exchange rates. Interest on the Company’s unsecured bank credit facility and accounts receivable securitization program are based on floating rates. As at August 31, 2022 there is no significant market risk arising from interest rate fluctuations within a reasonably contemplated range from their actual amounts. At August 31, 2022, a one dollar change in the Company’s Class B Shares would have had an impact on net income of $1 (August 31, 2021 – $2) in respect of the Company’s DSU, RSU, and PSU plans. Credit risk Accounts 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, 2022, the Company had accounts receivable of $332 (August 31, 2021 – $301), net of the allowance for doubtful accounts of $67 (August 31, 2021 – $78). The Company maintains an allowance for doubtful accounts for the expected credit losses resulting from the inability of its customers to make required payments. 2022 2021 Balance, beginning of period 78 74 Additions (doubtful accounts expense) 28 25 Net usage (39 ) (21 ) Balance, end of period 67 78 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 circumstances. As at August 31, 2022, $87 (August 31, 2021 – $124) 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 account 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 through 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 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, 2022 are as follows: Short-term Accounts payable and accrued liabilities (1) Long-term debt repayable at maturity Leases (note 14) Interest payments Within one year 200 959 1 152 218 1 to 3 years – – 1,046 288 365 3 to 5 years – – 300 231 344 Over 5 years – – 3,250 767 1,588 200 959 4,597 1,438 2,515 (1) Includes accrued interest and dividends of $260. |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flow | 12 Months Ended |
Aug. 31, 2022 | |
Statement of cash flows [abstract] | |
Consolidated Statements Of Cash Flows | 31. CONSOLIDATED STATEMENTS OF CASH FLOWS (i) Funds flow from operations 2022 2021 Net income from operations 764 986 Adjustments to reconcile net income to funds flow from operations: Amortization 1,230 1,221 Deferred income tax expense (recovery) (54 ) 16 Share-based compensation 1 1 Defined benefit pension plans 11 2 Fair value adjustments for private investments – (27 ) Net change in contract asset balances 40 47 Loss (gain) on disposal of fixed assets and intangibles (5 ) (3 ) Accretion on ARO 1 1 Other 4 5 Funds flow from operations 1,992 2,249 (ii) Interest and income taxes paid and interest received and classified as operating activities are as follows: 2022 2021 Interest paid 261 265 Income taxes paid (net of refunds) 259 174 Interest received 4 4 Included in interest paid is interest on lease liabilities of $41 for the year ended August 31, 2022 (2021 – $45). |
Capital Structure Management
Capital Structure Management | 12 Months Ended |
Aug. 31, 2022 | |
Capital Structure Management [Abstract] | |
Capital Structure Management | 32. 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 2022 2021 Cash (421 ) (355 ) Short-term borrowings 200 200 Long-term debt repayable at maturity 4,597 4,597 Lease liabilities 1,130 1,245 Share capital 4,217 4,199 Contributed surplus 27 27 Retained earnings 2,000 1,876 11,750 11,789 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 opportunities, 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. Further, the terms of the Arrangement Agreement require the Company to obtain Rogers’ consent prior to incurring certain types of indebtedness. 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, 2022, the Company was 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 Other than the redemption of the Company’s preferred shares as discussed in note 17, the Company’s overall capital structure management strategy remains unchanged from the prior year. |
Basis Of Presentation And Acc_2
Basis Of Presentation And Accounting Policies (Policies) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies Changes In Accounting Estimates And Errors [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, 2022 and 2021, were approved by the Board of Directors on November 28, 2022 and authorized for issue. |
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 statements of income are presented using the nature classification for expenses. Certain comparative figures have been reclassified to conform to the current year’s presentation. Basis of consolidation (i) Subsidiaries The consolidated financial statements include the accounts 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 fro m voting rights. Non-controlling non-controlling non-controlling (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 control 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 proportionate 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. |
Revenue and expenses | Revenue and expenses The 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 charged 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 when (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 on certain long-term contracts are recognized using output methods based on products delivered, performance completed to date and time elapsed. Revenue from Cable, Internet, Phone, Direct-to-Home pay-per-use 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. Other 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, voice and data services, internet services), items are accounted 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 offers 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 revenues, 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 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 statements of financial position. When wireless equipment and services are bundled with wireline services, revenue is allocated across the Company’s segments based on the relative stand-alone selling prices of the goods and services delivered. 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 related 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 contract 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 Subscriber connection fees received from Cable, Internet, Phone and Wireless customers are deferred as contract liabilities and recognized as revenue on a straight-line basis over two to 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 (iii) Deferred commission cost assets We defer the incremental cost to obtain or fulfill a contract with a customer over their 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 subscriber 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-line 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 equipment is generally sold to customers at cost or a subsidized price in order to expand the Company’s customer base. Recognition of deferred equipment revenue and 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 |
Allowance for doubtful accounts | Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts for the estimated expected credit 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 DTH 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 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 includes 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 equipment 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 qualifying 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-line basis over the estimated useful lives of assets as follows: Asset Estimated Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 Satellite audio, video and data network equipment and DTH receiving equipment 3-15 Buildings 15-40 years Data processing 4-10 Other 4-20 The Company reviews the estimates of useful lives on a regular basis. |
Leases | Leases Leases are typically entered into for network infrastructure and equipment, including transponders, and land and buildings relating to the Company’s wireless and wireline networks, office space and retail stores. At inception of a contract, the Company assesses whether the contract contains a lease. A lease contract conveys the right to control the use of an identified asset for a period in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: • the contract involves the use of an identified asset; • the Company has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and • the Company has the right to direct the use of the identified asset. Lease liabilities are initially measured at the present value of future lease payments at the commencement date, discounted using the interest rate implicit in the lease or, if not readily determinable, the Company’s incremental borrowing rate. A single incremental borrowing rate is applied to a portfolio of leases with similar characteristics. Lease payments included in the measurement of the lease liability consist of: • fixed payments, including in-substance • variable lease payments that depend on an index or rate; • amounts expected to be payable under a residual value guarantee; and • payments relating to purchase options and renewal option periods that are reasonably certain to be exercised, or periods subject to termination options that are not reasonably certain to be exercised. The initial lease term included in the measurement of the lease liability consists of: • the non-cancellable • periods covered by options to extend the lease, where the Company is reasonably certain to exercise the option; and • periods covered by options to terminate the lease, where the Company is reasonably certain not to exercise the option. Lease liabilities are subsequently measured at amortized cost. Lease liabilities are remeasured when there is a lease modification, and a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use Interest expense Variable lease payments that do not depend on an index or rate are not included in the measurement of lease liabilities and right-of-use Operating, general and administrative expenses Right-of-use right-of-use Property, plant and equipment. If the Company obtains ownership of the leased asset by the end of the lease term or the costs of the right-of-use right-of-use right-of-use Right-of-use right-of-use Amortization – Property , plant and equipment |
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 , (ii) the non-current portion of wireless handset discounts receivable as described in the revenue and expenses accounting policy, (iii) credit facility arrangement fees amortized on a straight-line basis over the term of the facility, (iv) long-term receivables, (v) network 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 and amortized on a straight-line basis over two to . |
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 acquired 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 rights 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 historical 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 lives 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% (2021 – 5%). |
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 impaired. 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 flows 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 recognized. Impairment losses relating to goodwill cannot be reversed in future periods. (ii) Non-financial For non-financial |
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 outflow 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. Provisions 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 basis, 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 passage 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 carried out. (iii) Other provisions Provisions for disputes, legal claims and contingencies are recognized when an outflow to settle the matter is probable. 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, and (iii) a deposit on a future fibre sale. |
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 liabilities 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 taxes 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 any 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 non-monetary |
Financial instruments other than derivatives | Financial instruments other than derivatives 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 financial instruments have been classified as FVTPL and are recorded 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 Company’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 non-financial held-for-trading 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 judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value hierarchy is based 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 independent 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 assets 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 August 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, 2022 and the next actuarial valuations for funding purposes are effective August 31, 2023. |
Share-based compensation | Share-based compensation The Company has a stock option plan for directors, officers, employees, and consultants to the Company. The exercise price of options to purchase Class B Shares is determined by the Board, or a committee thereof, at a price not less than the closing price of the Class B Shares on the TSX on the trading day immediately preceding the date on which the options are granted. 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 employees 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 grant 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 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-Scholes option pricing model and the number of outstanding RSUs and PSUs. For PSUs, 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 payout is zero, while maximum performance is capped at 150%. On settlement of vested PSUs, the number of Class B 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 fair 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 compensation. 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. |
Earnings per share | Earnings per share Basic earnings per share 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 Shares outstanding during the period. Diluted earnings per 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 Shares at the average market price during the period. |
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 any payments under the guarantees. |
Estimation uncertainty and critical judgments | 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 significant 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 accounts The Company is required to make an estimate of expected credit losses 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 wireline and wireless products and services, the identification of performance obligations within a contract and the timing of satisfaction of performance obligations 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 result 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 judgment. In determining these estimates, the Company takes into account industry trends and company-specific factors, including changing technologies and expectations for the in-service (iv) Leases The application of IFRS 16 requires the Company to make judgments that affect the valuation of the lease liabilities and the valuation of right-of-use (v) Business combinations – purchase price allocation Purchase price allocations involve uncertainty because management is required to make assumptions 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 cash flow (DCF) analysis. Such estimates include assumptions about inputs to the valuation techniques, industry economic factors and business strategies. (vi) Impairment The Company estimates the recoverable amount of its CGUs using a FVLCS calculation based 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 broadcast 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 assumption 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 analyzing 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 9. A DCF analysis uses significant unobservable inputs and is therefore considered a level 3 fair value measurement. (vii) 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 compensation 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. (viii) Income taxes The Company is required to estimate income taxes using substantively enacted tax rates and laws in effect or that will be in effect when the temporary differences are expected to reverse. In determining the measurement of tax uncertainties, the Company recognizes an income tax benefit only when it is probable that the tax benefit will be realized. 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 likely 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. (ix) Contingencies 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 Critical judgements The following are critical judgements apart from those involving estimation: (i) Determination of a CGU Management’s judgment is required in determining the Company’s cash generating 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 spectrum 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 Innovation, Science and Economic Development Canada (ISED). 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. |
Standards, interpretations and amendments to standards issued but not yet effective | 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 as at August 31, 2022. The following pronouncements are being assessed to determine the impact on the Company’s results and financial position: • Proceeds before Intended Use Property, Plant and Equipment • Onerous Contracts – Costs of Fulfilling a Contract Provisions, Contingent Liabilities and Contingent Assets • Classification of Liabilities as Current or Non-Current Presentation of Financial Statements non-current • Definition of Accounting Estimates Accounting Policies , Changes in Accounting Estimates and Errors • Disclosure of Accounting Policies Presentation of Financial Statements Mak ing Material ity Judgements • Deferred Tax related to Assets and Liabilities arising from a Single Transaction Income Taxes |
Basis Of Presentation And Acc_3
Basis Of Presentation And Accounting Policies (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of initial application of standards or interpretations [line items] | |
Estimated Useful Lives Of Assets | Asset Estimated Cable, Wireless and telecommunications distribution system 3-20 years Digital cable terminals and modems 3-5 Satellite audio, video and data network equipment and DTH receiving equipment 3-15 Buildings 15-40 years Data processing 4-10 Other 4-20 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Trade and other current receivables [abstract] | |
Schedule of Trade and Other Receivables | 2022 2021 Subscriber and trade receivables 362 362 Miscellaneous receivables 37 17 399 379 Less allowance for doubtful accounts (note 30) (67 ) (78 ) 332 301 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Classes of current inventories [abstract] | |
Inventories | 2022 2021 Wireless devices and accessories 52 33 DTH subscriber equipment 40 23 Other – built to suit – 7 92 63 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets | 2022 2021 Prepaid expenses 113 103 Costs incurred to obtain or fulfill a contract with a customer (note 22) 66 59 Wireless handset receivables 176 168 Current portion of derivatives 5 1 360 331 |
Investments And Other Assets (T
Investments And Other Assets (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Investments And Other Assets [Abstract] | |
Schedule of Investments | 2022 2021 Investments in private entities 71 70 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule Of Net Book Value Of Property, Plant And Equipment | August 31, 2022 August 31, 2021 Cost Accumulated amortization Net book value $ Cost $ Accumulated amortization Net book value $ Cable and telecommunications distribution system 7,653 4,091 3,562 7,475 3,957 3,518 Digital cable terminals and modems 868 509 359 853 541 312 Satellite audio, video and data network and DTH receiving equipment 114 70 44 106 66 40 Land and buildings 646 345 301 646 318 328 Data centre infrastructure, data processing and other 669 445 224 630 419 211 Assets under construction 337 – 337 417 – 417 Property, plant and equipment excluding right-of-use 10,287 5,460 4,827 10,127 5,301 4,826 Right-of-use (note 14) 1,470 414 1,056 1,474 281 1,193 Property, plant and equipment 11,757 5,874 5,883 11,601 5,582 6,019 |
Changes In Net Carrying Amounts Of Property, Plant And Equipment | Changes in the net carrying amounts of property, plant and equipment for 2022 and 2021 are summarized as follows: August 31, August 31, Net book value $ Additions Transfers Amortization Disposals and writedown Net book value $ Cable and telecommunications distribution system 3,518 554 129 (630 ) (9 ) 3,562 Digital cable terminals and modems 312 234 – (187 ) – 359 Satellite audio, video and data network and DTH receiving equipment 40 17 (1 ) (12 ) – 44 Land and buildings 328 – – (27 ) – 301 Data centre infrastructure, data processing and other 211 29 49 (64 ) (1 ) 224 Assets under construction 417 99 (176 ) – (3 ) 337 4,826 933 1 (920 ) (13 ) 4,827 August 31, August 31, Net book value $ Additions Transfers Amortization Disposals and writedown Net book value $ Cable and telecommunications distribution system 3,490 441 215 (625 ) (3 ) 3,518 Digital cable terminals and modems 358 146 – (196 ) 4 312 Satellite audio, video and data network and DTH receiving equipment 46 8 (1 ) (13 ) – 40 Land and buildings 352 4 2 (29 ) (1 ) 328 Data centre infrastructure, data processing and other 230 24 24 (52 ) (15 ) 211 Assets under construction 420 239 (242 ) – – 417 4,896 862 (2 ) (915 ) (15 ) 4,826 |
Other Long-Term Assets (Tables)
Other Long-Term Assets (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Other Long Term Assets [Abstract] | |
Schedule Of Other Long-Term Assets | 2022 2021 Equipment costs subject to a deferred revenue arrangement 28 49 Long-term Wireless handset receivables 76 45 Costs incurred to obtain or fulfill a contract with a customer (note 22) 37 33 Credit facility arrangement fees 2 3 Net pension assets (note 28) 34 – Other 31 33 208 163 |
Intangibles And Goodwill (Table
Intangibles And Goodwill (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule Of Net book Value Of Intangible Assets And Goodwill | 2022 2021 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 2,445 Other intangibles Software 491 483 Customer relationships 33 39 7,998 7,996 Goodwill Cable and telecommunications systems 79 79 Wireless 201 201 280 280 Net book value 8,278 8,276 |
Changes In Carrying Amount Of Intangibles With Indefinite Useful Lives | 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, 2020 5,029 280 2,445 Additions – – – Disposition – – – August 31, 2021 5,029 280 2,445 Additions – – – Disposition – – – August 31, 2022 5,029 280 2,445 |
Intangibles Subject To Amoritzation | Intangibles subject to amortization are as follows: August 31, 2022 August 31, 2021 Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 995 506 489 897 416 481 Software under construction 2 – 2 2 – 2 Customer relationships 114 81 33 114 75 39 1,111 587 524 1,013 491 522 |
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, 2020 471 8 44 523 Additions 138 – – 138 Transfers 8 (6 ) – 2 Dispositions – – – – Amortization (136 ) – (5 ) (141 ) August 31, 2021 481 2 39 522 Additions 160 – – 160 Transfers (1 ) – – (1 ) Dispositions – – – – Amortization (151 ) – (6 ) (157 ) August 31, 2022 489 2 33 524 |
Changes In Market Condidtions Related To Discount Rates And Terminal Value | Significant estimates inherent to these analyses include discount rates and the terminal value. As at August 31, 2022 for both Satellite and Wireless, the estimates that have been utilized in the impairment tests reflect any changes in market conditions and are as follows: Terminal value Post-tax discount rate Terminal growth rate Terminal operating Satellite 8.5 % -8.5 % 5.6x Wireless 7.8 % 2.5 % 8.7x |
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 as at August 31, 2022, 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 Satellite 5.2 % 4.0 % 5.0 % Wireless 15.6 % 12.9 % 2.2 % |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Detailed Information About Short Term Borrowings [Abstract] | |
Reconciliation of Accounts Receivable Securitization | A summary of our accounts receivable securitization program as at August 31, 2022 is as follows: 2022 2021 Accounts receivable securitization program, beginning of period 200 200 Repayment of accounts receivable securitization – – Accounts receivable securitization program, end of period 200 200 |
Summary of Accounts Receivable Securitization | 2022 2021 Trade accounts receivable sold to buyer as security (1) 321 416 Short-term borrowings from buyer (200 ) (200 ) Overcollateralization 121 216 (1) On August 26, 2022, all Freedom related upsale agreements for this program were terminated. |
Accounts Payable And Accrued _2
Accounts Payable And Accrued Liabilities (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Accounts Payable And Accrued Liabilities [Abstract] | |
Schedule Of Accounts Payable And Accrued Liabilities | 2022 2021 Trade 133 112 Program rights 3 4 Accrued liabilities 422 521 Accrued network fees 117 117 Interest and dividends 260 210 Related parties (note 29) 24 24 959 988 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of other provisions [abstract] | |
Schedule Of Provisions | Asset retirement $ Restructuring (1) $ Other ( 2 Total Balance as at September 1, 2020 79 13 89 181 Additions (3 ) 14 13 24 Accretion 1 – – 1 Reversal (2) – – (58 ) (58 ) Payments – (25 ) – (25 ) Balance as at August 31, 2021 77 2 44 123 Additions 4 – 5 9 Accretion 1 – – 1 Reversal (1 ) – – (1 ) Payments – (1 ) (5 ) (6 ) Balance as at August 31, 2022 81 1 44 126 Current – 2 44 46 Long-term 77 – – 77 Balance as at August 31, 2021 77 2 44 123 Current – 1 44 45 Long-term 81 – – 81 Balance as at August 31, 2022 81 1 44 126 (1) In fiscal 2021 the Company made a number of changes to its organizational structure. A total of $ has been paid in fiscal 2022 relating to this and other prior period initiatives. The remaining costs are expected to be paid out within the next 5 months. ( 2 During the third quarter of fiscal 2021, the Company recorded a $20 reversal following the CRTC decision on final aggregated Third Party Internet Access rates and a $35 reduction of the interest expense provision. |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Borrowings [Abstract] | |
Summary of long-term debt | 2022 2021 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- 3.80% due November 2, 2023 3.80 499 1 500 499 1 500 4.35% due January 31, 2024 4.35 500 – 500 499 1 500 3.80% due March 1, 2027 3.84 299 1 300 299 1 300 4.40% due November 2, 2028 4.40 497 3 500 497 3 500 3.30% due December 10, 2029 3.41 496 4 500 496 4 500 2.90% due December 9, 2030 2.92 497 3 500 496 4 500 6.75% due November 9, 2039 6.89 1,422 28 1,450 1,421 29 1,450 4.25% due December 9, 2049 4.33 296 4 300 296 4 300 4,506 44 4,550 4,503 47 4,550 Other Burrard Landing Lot 2 Various 47 – 47 47 – 47 Total consolidated debt 4,553 44 4,597 4,550 47 4,597 Less current portion (2) 1 – 1 1 – 1 4,552 44 4,596 4,549 47 4,596 (1) Long-term debt is presented net of unamortized discounts and finance costs. (2) Current portion of long-term debt includes amounts due within one year in respect of the Burrard Landing loans. |
Long-term debt repayments | Mandatory principal repayments on all long-term debt in each of the next five years and thereafter are as follows: $ 2023 1 2024 1,001 2025 45 2026 – 2027 300 Thereafter 3,250 4,597 |
Interest expense | 2022 2021 Interest expense – long-term debt 223 223 Amortization of senior notes discounts 1 1 Interest income – short-term (net) (5 ) (4 ) Interest on lease liabilities (note 14) 41 45 Interest expense – other (1) – (34 ) 260 231 (1) Interest expense – other for the year ended August 31, 2021 includes a $35 million reduction of tax related interest expense resulting from a revision of liabilities for uncertain tax positions that became statute barred in the period . |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Presentation of leases for lessee [abstract] | |
Right of Use Assets | Below is a summary of the activity related to the Company’s right-of-use $ Net book value as at September 1, 2020 1,246 Additions 114 Amortization (139 ) Lease terminations and other (28 ) Net book value as at August 31, 2021 1,193 Additions 27 Amortization (133 ) Leasehold inducements (4 ) Lease terminations and other (27 ) Net book value as at August 31, 2022 1,056 |
Lease Liabilities | Below is a summary of the activity related to the Company’s lease liabilities for the years ended August 31, 2022 and 2021. $ Balance as at September 1, 2020 1,270 Net additions 85 Interest on lease liabilities 45 Interest payments on lease liabilities (45 ) Principal payments of lease liabilities (110 ) Other – Balance as at August 31, 2021 1,245 Net additions 1 Interest on lease liabilities 41 Interest payments on lease liabilities (41 ) Principal payments of lease liabilities (114 ) Other (2 ) Balance as at August 31, 2022 1,130 Current 110 Long-term 1,135 Balance as at August 31, 2021 1,245 Current 113 Long-term 1,017 Balance as at August 31, 2022 1,130 |
Rental Expense | Below is a summary of the Company’s other expenses related to leases included in operating, general and administrative expenses. 2022 2021 Expenses related to variable lease components not included in lease liabilities 24 20 Expenses related to low-value 33 33 57 53 |
Other Long-Term Liabilities (Ta
Other Long-Term Liabilities (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of other long-term liabilities | 2022 2021 Pension liabilities (note 28) 4 21 Post retirement liabilities (note 28) 4 5 8 26 |
Deferred Credits (Tables)
Deferred Credits (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure Of Deferred Credits [Abstract] | |
Disclosure of deferred credits | 2022 2021 IRU prepayments 362 374 Equipment revenue 9 13 Deposit on future fibre sale 2 2 373 389 |
Share Capital (Tables)
Share Capital (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Share Capital [Abstract] | |
Disclosure of Capital Stock | Issued and outstanding 2022 2021 2022 2021 Number of securities $ $ 22,372,064 22,372,064 Class A Shares 2 2 477,175,098 476,537,262 Class B Shares 4,215 4,197 – – Series A Shares – – – – Series B Shares – – 499,547,162 498,909,326 4,217 4,199 |
Disclosure of Changes in Share Capital | Changes in Class A Share capital and Class B Share capital in 2022 and 2021 are as follows: Class A Shares Class B Shares Number $ Number $ September 1, 2020 22,372,064 2 490,632,833 4,307 Stock option exercises – – 681,980 19 Restricted Share Units – – 6,423 – Shares Repurchased – – (14,783,974 ) (129 ) August 31, 2021 22,372,064 2 476,537,262 4,197 Stock option exercises – – 627,751 18 Restricted Share Units – – 10,085 – August 31, 2022 22,372,064 2 477,175,098 4,215 |
Share-Based Compensation And _2
Share-Based Compensation And Awards (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Share Based Payment Arrangements [Abstract] | |
Stock Options Activity | The changes in options are as follows: 2022 2021 Number Weighted average exercise price $ Number Weighted average exercise price $ Outstanding, beginning of year 7,499,890 25.56 7,358,130 26.36 Granted – – 1,423,000 21.82 Forfeited (76,853 ) 24.82 (599,260 ) 26.33 Exercised (1) (627,751 ) 26.01 (681,980 ) 25.84 Outstanding, end of year 6,795,286 25.54 7,499,890 25.56 (1) The weighted average Class B Share price for the options exercised for the year ended August 31, 2022 was $37.35 (2021 – $33.67). |
Stock Option Range of Exercise Prices | The following table summarizes information about the options outstanding at August 31, 2022: Options outstanding Options exerciseable Range of prices Number outstanding Weighted average remaining contractual life Weighted average exercise price Number exercisable Weighted average exercise price $20.16 to $21.86 1,382,000 8.16 21.82 267,600 21.81 $21.87 to $26.17 1,312,159 3.28 24.35 1,266,359 24.33 $26.18 to $26.32 1,393,320 5.16 26.28 1,094,070 26.27 $26.33 to $27.42 1,366,825 4.71 27.04 1,082,425 27.07 $27.43 to $30.87 1,340,982 4.44 28.23 1,237,582 28.26 |
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, 2022 was therefore $nil (2021 – $1.42) per option. The fair value of each option granted was estimated on the date of the grant using the Black-Scholes option pricing model with the following weighted-average assumptions in the prior year: 2022 2021 Dividend yield N/A 5.43% Risk-free interest rate N/A 0.50% Expected life of options N/A 7 years Expected volatility factor of the future expected market price of Class B Shares N/A 20.00% |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Earnings Per Share [Abstract] | |
Disclosure of earnings per share | Earnings per share calculations are as follows: 2022 2021 Numerator for basic and diluted earnings per share ($) Net income 764 986 Deduct: dividends on Preferred Shares – (7 ) Net income attributable to common shareholders 764 979 Denominator (millions of shares) Weighted average number of Class A Shares and Class B Shares for basic earnings per share 499 504 Effect of dilutive securities (1) 2 1 Weighted average number of Class A Shares and Class B Shares for diluted earnings per share 501 505 Earnings per share ($) Basic 1.53 1.94 Diluted 1.52 1.94 (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, 2022, nil options were excluded from the diluted earnings per share calculation (2021 – 174,031). |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of classes of share capital [line items] | |
Floating Quarterly Dividend Rate | Period Annual Dividend Rate June 30, 2020 to September 29, 2020 2.255 % September 30, 2020 to December 30, 2020 2.149 % December 31, 2020 to March 30, 2021 2.109 % March 31, 2021 to June 29, 2021 2.073 % |
Dividends Declared | The dividends per share recognized as distributions to common shareholders for dividends declared during the year ended August 31, 2022 and 2021 are as follows: 2022 2021 Class A Voting Share Class B Share Class A Voting Share Class B Share 1.2810 1.2838 1.1825 1.1850 The dividends per share recognized as distributions to preferred shareholders for dividends declared during the year ended August 31, 2022 and 2021 are as follows: 2022 2021 Series A Share Series B Share Series A Share Series B Share – – 0.5233 0.3957 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) And Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of analysis of other comprehensive income by item [abstract] | |
Components Of Other Comprehensive Income And The Related Income Tax Effects | Components of other comprehensive income and the related income tax effects for 2022 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 6 (1 ) 5 Adjustment for hedged items recognized in the period – – – 6 (1 ) 5 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: 63 (16 ) 47 69 (17 ) 52 Components of other comprehensive income and the related income tax effects for 2021 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 (1 ) – (1 ) Adjustment for hedged items recognized in the period 6 (1 ) 5 5 (1 ) 4 Items that will not be subsequently reclassified to income Remeasurements on employee benefit plans: 48 (12 ) 36 53 (13 ) 40 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Revenue [abstract] | |
Contract assets and liabilities | Contract Contract September 1 , 2020 172 225 Increase in contract assets from revenue recognized during the period 140 – Contract assets transferred to trade receivables (171 ) – Contract terminations transferred to trade receivables (16 ) – Revenue recognized included in contract liabilities at the beginning of the year – (219 ) Increase in contract liabilities during the period – 222 August 31, 2021 125 228 Increase in contract assets from revenue recognized during the period 93 – Contract assets transferred to trade receivables (112 ) – Contract terminations transferred to trade receivables (20 ) – Revenue recognized included in contract liabilities at the beginning of the year – (222 ) Increase in contract liabilities during the period – 214 August 31, 2022 86 220 |
Schedule of contract assets and liabilities | Contract Contract Current 97 213 Long-term 28 15 Balance as at August 31, 2021 125 228 Current 63 200 Long-term 23 20 Balance as at August 31, 2022 86 220 |
Deferred commission costs assets | September 1 , 2020 98 Additions to deferred commission cost assets 75 Amortization recognized on deferred commission cost assets (81 ) August 31, 2021 92 Additions to deferred commission cost assets 93 Amortization recognized on deferred commission cost assets (82 ) August 31, 2022 103 Current 59 Long-term 33 Balance as at August 31, 2021 92 Current 66 Long-term 37 Balance as at August 31, 2022 103 |
Disaggregation of revenue | 2022 2021 Services Wireline 3,547 3,665 Wireline – Business 623 584 Wireless 972 891 5,142 5,140 Equipment and other Wireless 319 381 319 381 Intersegment eliminations (13 ) (12 ) Total revenue 5,448 5,509 |
Remaining performance obligations | Within Within Within Within Within Thereafter Total Wireline 1,763 732 164 84 26 3 2,772 Wireless 308 92 – – – – 400 Total 2,071 824 164 84 26 3 3,172 |
Operating, General And Admini_2
Operating, General And Administrative Expenses And Restructuring Costs (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |
Schedule Of Operating, General And Administrative Expenses, And Restructuring Costs | 2022 2021 Employee salaries and benefits (1) 667 677 Purchases of goods and services 2,247 2,346 2,914 3,023 (1) For the year ended August 31, 2022, employee salaries and benefits include restructuring costs of $nil (2021 – $14). |
Other Gains (Losses) (Tables)
Other Gains (Losses) (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Other Gains (Losses) [Abstract] | |
Schedule Of Other Gains (Losses) | 2022 2021 Gain on disposal of fixed assets and intangibles 5 3 Costs associated with Rogers-Shaw Transaction (26 ) (23 ) Fair value adjustment of private investments – 27 Other (1) (2 ) (9 ) (23 ) (2 ) (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, 2022 | |
Income Taxes [Abstract] | |
Net Deferred Tax Liability | 2022 2021 Deferred tax assets 2 2 Deferred tax liabilities (1,962 ) (1,998 ) Net deferred tax liability (1,960 ) (1,996 ) |
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 Capital Loss Total $ Balance at September 1 , 2020 (394 ) (1,634 ) (11 ) 106 (34 ) – (1,967 ) Recognized in statement of income (18 ) (16 ) (62 ) 56 21 3 (16 ) Recognized in other comprehensive – – – – (13 ) – (13 ) Balance at August 31, 2021 (412 ) (1,650 ) (73 ) 162 (26 ) 3 (1,996 ) Recognized in statement of income 19 (9 ) 88 (46 ) 2 – 54 Recognized in other comprehensive – – – – (18 ) – (18 ) Balance at August 31, 2022 (393 ) (1,659 ) 15 116 (42 ) 3 (1,960 ) |
Income Tax Expense Differs From Computed Amount Applying Statutory Rates To Income Before Income Taxes | 2022 2021 Current statutory income tax rate 25.4 % 25.5 % Income tax expense at current statutory rates 259 263 Net increase (decrease) in taxes resulting from: Recognition of previously unrecognized tax losses – (81 ) Revision to liabilities for uncertain tax positions – (125 ) Other (2 ) (11 ) Income tax expense 257 46 |
Components Of Income Tax Expense | 2022 2021 Current income tax expense 311 155 Current tax recovery from revision to liabilities for uncertain tax positions – (125 ) Deferred tax expense (recovery) related to temporary differences (54 ) 97 Deferred tax recovery from the recognition of previously unrecognized tax losses – (81 ) Income tax expense 257 46 |
Business Segment Information (T
Business Segment Information (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Business Segment Information [Abstract] | |
Information On Operations By Segment | 2022 2021 Revenue Wireline 4,170 4,249 Wireless 1,291 1,272 5,461 5,521 Intersegment eliminations (13 ) (12 ) 5,448 5,509 Adjusted EBITDA (1) Wireline 2,049 2,107 Wireless 485 393 2,534 2,500 Restructuring costs – (14 ) Amortization (1,227 ) (1,219 ) Operating income 1,307 1,267 Interest Operating 258 228 Other/non-operating 2 3 260 231 Current taxes (2) Operating 315 161 Other/non-operating (4 ) (131 ) 311 30 (1) Adjusted EBITDA does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers; the Company defines adjusted EBITDA as revenues less operating, general and administrative expenses. (2) Current taxes are higher for the year ended August 31, 2022 due mainly to higher taxable income in the period and the impact of a prior year revision to liabilities for uncertain tax positions that became statute barred in the period of $125. |
Capital Expenditures | 2022 2021 Capital expenditures accrual basis Wireline 938 701 Wireless 135 280 1,073 981 Equipment costs (net of revenue) Wireline 14 22 Capital expenditures and equipment costs (net) Wireline 952 723 Wireless 135 280 1,087 1,003 Reconciliation to Consolidated Statements of Cash Flows Additions to property, plant and equipment 926 858 Additions to equipment costs (net) 12 21 Additions to other intangibles 158 138 Total of capital expenditures and equipment costs (net) per Consolidated Statements of Cash Flows 1,096 1,017 Increase in working capital and other liabilities related to capital accruals 13 4 Increase (decrease) in other liabilities related to ARO additions (4 ) 3 Less: Proceeds on disposal of property, plant and equipment (18 ) (21 ) Total capital expenditures and equipment costs (net) reported by segments 1,087 1,003 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Commitments And Contingencies [Abstract] | |
Long-Term Operating Commitments | The Company has the following future minimum payments for their contractual commitments that are not recognized as liabilities as at August 31, 2022: Purchase (1) Property, Within one year 578 226 1 to 3 years 288 2 3 to 5 years 120 – Over 5 years 157 – 1,143 228 (1) Includes contractual obligations under service, product, and wireless device contracts, program related agreements and exclusive rights to use intellectual property in Canada. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Employee Benefit Plans [Abstract] | |
Accrued Benefit Liabilities Recognized | 2022 2021 Non-registered Accrued benefit obligation 385 489 Fair value of plan assets 415 468 Accrued benefit (assets) liabilities and deficit (30 ) 21 |
Change In Benefit Obligation And Funding Status And The Fair Value Of Plan Assets | SERP ERP 2022 SERP ERP 2021 Accrued benefit obligation, beginning of year 447 42 489 477 36 513 Current service cost – 9 9 – 9 9 Interest cost 14 2 16 13 1 14 Payment of benefits to employees (20 ) (1 ) (21 ) (20 ) (2 ) (22 ) Transfer from DC plan – – – – 1 1 Remeasurements: Effect of changes in demographic assumptions – – – – – – Effect of changes in financial assumptions (81 ) (10 ) (91 ) (24 ) (3 ) (27 ) Effect of experience adjustments (16 ) (1 ) (17 ) 1 – 1 Accrued benefit obligation, end of year 344 41 385 447 42 489 Fair value of plan assets, beginning of year 428 40 468 415 30 445 Employer contributions – – – – 10 10 Interest income 13 1 14 11 – 11 Transfer from DC plan – – – – 1 1 Payment of benefits (20 ) (1 ) (21 ) (20 ) (2 ) (22 ) Return on plan assets, excluding interest income (43 ) (3 ) (46 ) 22 1 23 Fair value of plan assets, end of year 378 37 415 428 40 468 Accrued benefit (assets) liabilities and plan deficit, end of year (34 ) 4 (30 ) 19 2 21 |
Disclosure of fair value of plan assets | SERP ERP Cash and cash equivalents 207 22 Fixed income securities 62 5 Equity securities – Canadian 39 4 Equity securities – Foreign 70 6 378 37 |
Significant Weighted-Average Assumptions Used And Cost For The Plans | Accrued benefit obligation 2022 2022 2021 2021 Discount rate 5.00 5.00 3.10 3.10 Rate of compensation increase 3.00 (1) 3.00 3.00 (1) 3.00 Benefit cost for the year 2022 2022 2021 2021 Discount rate 3.10 3.10 2.70 2.70 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 | SERP ERP 2022 SERP ERP 2021 Current service cost – 9 9 – 9 9 Interest cost 14 2 16 13 1 14 Interest income (13 ) (1 ) (14 ) (11 ) – (11 ) Pension expense 1 10 11 2 10 12 |
Change In Accrued Post-Retirement Obligation | 2022 2021 Accrued benefit obligation and plan deficit, beginning of year 5 4 Current service cost – – Interest cost – – Payment of benefits to employees – – Remeasurements: – Effect of changes in demographic assumptions – 1 Effect of changes in financial assumptions (1 ) (1 ) Effect of experience adjustments – 1 Accrued benefit obligation and plan deficit, end of year 4 5 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Schedule Of Significant Subsidiaries | The following are the significant subsidiaries of the Company, all of which are incorporated or partnerships in Canada. Ownership Interest August 31, August 31, Shaw Cablesystems Limited 100 % 100 % Shaw Cablesystems G.P. 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 | The compensation expense of key management personnel and Board of Directors is as follows: 2022 2021 Short-term employee benefits 18 20 Post-employment pension benefits 4 7 Share-based compensation 8 22 30 49 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | |
Carrying Values And Estimated Fair Values | The carrying value and estimated fair value of long-term debt are as follows: August 31, 2022 August 31, 2021 Carrying value Estimated fair value Carrying value Estimated fair value Liabilities Long-term debt (including current portion) (1) 4,553 4,470 4,550 5,263 (1) Level 2 fair value – determined by valuation techniques using inputs based on observable market data, either directly or indirectly, other than quoted prices. |
Allowance for Doubtful Accounts for Expected Credit Losses | The Company maintains an allowance for doubtful accounts for the expected credit losses resulting from the inability of its customers to make required payments. 2022 2021 Balance, beginning of period 78 74 Additions (doubtful accounts expense) 28 25 Net usage (39 ) (21 ) Balance, end of period 67 78 |
Undiscounted Contractual Maturities | The Company’s undiscounted contractual maturities as at August 31, 2022 are as follows: Short-term Accounts payable and accrued liabilities (1) Long-term debt repayable at maturity Leases (note 14) Interest payments Within one year 200 959 1 152 218 1 to 3 years – – 1,046 288 365 3 to 5 years – – 300 231 344 Over 5 years – – 3,250 767 1,588 200 959 4,597 1,438 2,515 (1) Includes accrued interest and dividends of $260. |
Consolidated Statements Of Ca_3
Consolidated Statements Of Cash Flows (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Statement of cash flows [abstract] | |
Schedule Of Funds Flows From Continuing Operations | Funds flow from operations 2022 2021 Net income from operations 764 986 Adjustments to reconcile net income to funds flow from operations: Amortization 1,230 1,221 Deferred income tax expense (recovery) (54 ) 16 Share-based compensation 1 1 Defined benefit pension plans 11 2 Fair value adjustments for private investments – (27 ) Net change in contract asset balances 40 47 Loss (gain) on disposal of fixed assets and intangibles (5 ) (3 ) Accretion on ARO 1 1 Other 4 5 Funds flow from operations 1,992 2,249 |
Schedule Of Interest And Income Taxes Paid And Interest Received | Interest and income taxes paid and interest received and classified as operating activities are as follows: 2022 2021 Interest paid 261 265 Income taxes paid (net of refunds) 259 174 Interest received 4 4 |
Capital Structure Management (T
Capital Structure Management (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Capital Structure Management [Abstract] | |
Schedule Of Capital Structure Management | The Company defines capital as comprising all components of shareholders’ equity (other than non-controlling 2022 2021 Cash (421 ) (355 ) Short-term borrowings 200 200 Long-term debt repayable at maturity 4,597 4,597 Lease liabilities 1,130 1,245 Share capital 4,217 4,199 Contributed surplus 27 27 Retained earnings 2,000 1,876 11,750 11,789 |
Corporate Information (Narrativ
Corporate Information (Narrative) (Details) - CAD ($) $ / shares in Units, $ in Millions | Oct. 25, 2022 | Jun. 17, 2022 | Mar. 15, 2021 |
Spectrum licences [Member] | Regulatory Approvals and Related Proceedings [Member] | |||
Corporate Information And Statement Of Ifrs Compliance [Line Items] | |||
Applicable minimum possession period | 10 years | ||
Freedom Mobile Inc. [Member] | |||
Corporate Information And Statement Of Ifrs Compliance [Line Items] | |||
Consideration paid received | $ 2,850 | ||
Arrangement Agreement [Member] | Rogers Communications Inc [Member] | |||
Corporate Information And Statement Of Ifrs Compliance [Line Items] | |||
Consideration transferred | $ 26,000 | ||
Liabilities incurred | $ 6,000 | ||
Business Acquisition, Share Price | $ 40.5 | ||
Percentage of voting equity interests acquired | 60% | ||
Number of Consecutive Trading Days | 10 days |
Basis of Presentation and Acc_4
Basis of Presentation and Accounting Policies (Narrative) (Details) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 CAD ($) yr | Aug. 31, 2021 CAD ($) | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Discount amortisation period | 2 years | |
Inventory period | 3 years | |
Intangible assets term | 5 years | |
Net foreign exchange gain/(loss) recognized on the translation and settlement of current monetary assets and liabilities | $ | $ 2 | $ 12 |
Capitalisation rate of borrowing costs eligible for capitalisation | 5% | 5% |
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% | |
Restricted Share Units [Member] | Share Based Payment Arrangement Tranche Three [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Award vesting percentage | 100% | |
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 | 25% | |
Share based payment arrangement employee matching contribution, percent of match | 25% | |
Employee continuous service period required for employer to contribute 33% | 10 years | |
Performance percentage | 0% | |
Employee Share Purchase Plan [Member] | Share Based Payment Arrangement Tranche Three [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Share based payment arrangement maximum employee subscription rate | 5% | |
Award vesting percentage | 100% | |
Subscriber Connection Fees [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Period for recognition of revenue | 3 years | |
Direct And Incremental [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Deferred commission cost amortisation, period | 3 years | |
Deferred Equipment [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Period for recognition of revenue | 3 years | |
Minimum [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Deferred commission cost amortisation, period | 24 months | |
Other long-term assets amortisation period | 3 years | |
Minimum [Member] | Customer Relationships [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 4 | |
Minimum [Member] | Computer 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 | |
Minimum [Member] | Direct Costs [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Other long-term assets amortisation period | 2 years | |
Maximum [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Deferred commission cost amortisation, period | 36 months | |
Other long-term assets amortisation period | 5 years | |
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 maximum employee subscription rate | 33% | |
Share based payment arrangement employee matching contribution, percent of match | 33% | |
Performance percentage | 150% | |
Maximum [Member] | Customer Relationships [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Amortisation period of intangible assets | 15 | |
Maximum [Member] | Computer 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 | |
Maximum [Member] | Direct Costs [Member] | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Other long-term assets amortisation period | 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, 2022 | |
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 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 |
Accounts Receivable (Narrative)
Accounts Receivable (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure Of Accounts Receivables [Line Items] | ||
Provision for doubtful accounts | $ 28 | $ 25 |
Accounts Receivable (Schedule o
Accounts Receivable (Schedule of Trade and Other Receivables) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Trade and other current receivables [abstract] | |||
Subscriber and trade receivables | $ 362 | $ 362 | |
Miscellaneous receivables | 37 | 17 | |
Total accounts receivable before allowance | 399 | 379 | |
Less allowance for doubtful accounts (note 30) | (67) | (78) | $ (74) |
Total accounts receivable | $ 332 | $ 301 |
Inventories (Details)
Inventories (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Classes of current inventories [abstract] | ||
Wireless devices and accessories | $ 52 | $ 33 |
DTH subscriber equipment | 40 | 23 |
Other – built to suit | 7 | |
Inventories | $ 92 | $ 63 |
Other Current Assets (Details)
Other Current Assets (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Other Current Assets [Abstract] | ||
Prepaid expenses | $ 113 | $ 103 |
Costs incurred to obtain or fulfill a contract with a customer (note 22) | 66 | 59 |
Wireless handset receivables | 176 | 168 |
Current portion of derivatives | 5 | 1 |
Other current assets | $ 360 | $ 331 |
Investments And Other Assets (N
Investments And Other Assets (Narrative) (Details) $ in Millions | 12 Months Ended |
Aug. 31, 2021 CAD ($) | |
Disclosure Of Investments And Other Assets [Abstract] | |
Gain on fair value adjustment of private investment | $ 27 |
Investments And Other Assets (S
Investments And Other Assets (Schedule of Investments) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure Of Investments And Other Assets [Abstract] | ||
Investments in private entities | $ 71 | $ 70 |
Property, Plant And Equipment_2
Property, Plant And Equipment (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | ||
Gain (loss) on the disposal of property, plant and equipment | $ 5 | $ 3 |
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, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | $ 4,827 | $ 4,826 | $ 4,896 |
Right of use Assets | 1,056 | 1,193 | 1,246 |
Property, plant and equipment | 5,883 | 6,019 | |
Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 10,287 | 10,127 | |
Right of use Assets | 1,470 | 1,474 | |
Property, plant and equipment | 11,757 | 11,601 | |
Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 5,460 | 5,301 | |
Right of use Assets | (414) | (281) | |
Property, plant and equipment | (5,874) | (5,582) | |
Cable And Telecommunications Distribution System [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 3,562 | 3,518 | 3,490 |
Cable And Telecommunications Distribution System [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 7,653 | 7,475 | |
Cable And Telecommunications Distribution System [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 4,091 | 3,957 | |
Digital Cable Terminals And Modems [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 359 | 312 | 358 |
Digital Cable Terminals And Modems [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 868 | 853 | |
Digital Cable Terminals And Modems [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 509 | 541 | |
Satellite 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, Excluding Right Of Use Assets | 44 | 40 | 46 |
Satellite 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, Excluding Right Of Use Assets | 114 | 106 | |
Satellite 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, Excluding Right Of Use Assets | 70 | 66 | |
Land And Buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 301 | 328 | 352 |
Land And Buildings [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 646 | 646 | |
Land And Buildings [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 345 | 318 | |
Data Center Infrastructure, Data Processing And Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 224 | 211 | 230 |
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, Excluding Right Of Use Assets | 669 | 630 | |
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, Excluding Right Of Use Assets | 445 | 419 | |
Assets Under Construction [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | 337 | 417 | $ 420 |
Assets Under Construction [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property Plant and Equipment, Excluding Right Of Use Assets | $ 337 | $ 417 |
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, 2022 | Aug. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | $ 4,826 | $ 4,896 |
Additions | 933 | 862 |
Transfers | 1 | (2) |
Amortization | (920) | (915) |
Disposals and writedown | (13) | (15) |
Property, plant and equipment | 4,827 | 4,826 |
Cable And Telecommunications Distribution System [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 3,518 | 3,490 |
Additions | 554 | 441 |
Transfers | 129 | 215 |
Amortization | (630) | (625) |
Disposals and writedown | (9) | (3) |
Property, plant and equipment | 3,562 | 3,518 |
Digital Cable Terminals And Modems [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 312 | 358 |
Additions | 234 | 146 |
Amortization | (187) | (196) |
Disposals and writedown | (4) | |
Property, plant and equipment | 359 | 312 |
Satellite 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 | 40 | 46 |
Additions | 17 | 8 |
Transfers | (1) | (1) |
Amortization | (12) | (13) |
Property, plant and equipment | 44 | 40 |
Land And Buildings [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 328 | 352 |
Additions | 4 | |
Transfers | 2 | |
Amortization | (27) | (29) |
Disposals and writedown | (1) | |
Property, plant and equipment | 301 | 328 |
Data Center Infrastructure, Data Processing And Other [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 211 | 230 |
Additions | 29 | 24 |
Transfers | 49 | 24 |
Amortization | (64) | (52) |
Disposals and writedown | (1) | (15) |
Property, plant and equipment | 224 | 211 |
Assets Under Construction [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | 417 | 420 |
Additions | 99 | 239 |
Transfers | (176) | (242) |
Disposals and writedown | (3) | |
Property, plant and equipment | $ 337 | $ 417 |
Other Long-Term Assets (Narrati
Other Long-Term Assets (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Discontinued operations [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Amortization | $ 38 | $ 47 |
Other Long-Term Assets (Schedul
Other Long-Term Assets (Schedule Of Other Long-Term Assets) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure Of Other Long Term Assets [Abstract] | ||
Equipment costs subject to a deferred revenue arrangement | $ 28 | $ 49 |
Long-term Wireless handset receivables | 76 | 45 |
Costs incurred to obtain or fulfill a contract with a customer (note 22) | 37 | 33 |
Credit facility arrangement fees | 2 | 3 |
Net pension assets (note 28) | 34 | |
Other | 31 | 33 |
Total other non-current assets | $ 208 | $ 163 |
Intangibles And Goodwill (Narra
Intangibles And Goodwill (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Jun. 17, 2022 | Aug. 31, 2022 | Feb. 01, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Hypothetical decline in the recoverable amount of the broadcast rights and licences for the satellite cash generation | 10% | ||
Hypothetical decline in the recoverable amount of the wireless generating unit | 10% | ||
Impairment loss | $ 69 | ||
Freedom Mobile Inc. [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Consideration paid received | $ 2,850 |
Intangibles And Goodwill (Sched
Intangibles And Goodwill (Schedule Of Net book Value Of Intangible Assets And Goodwill) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Broadcast rights and licences | $ 5,029 | $ 5,029 |
Goodwill (note 9) | 280 | 280 |
Wireless spectrum licences | 2,445 | 2,445 |
Other intangibles | 7,998 | 7,996 |
Total intangible assets and goodwill | 8,278 | 8,276 |
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 (note 9) | 79 | 79 |
Wireless [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Goodwill (note 9) | 201 | 201 |
Software [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Other intangibles | 491 | 483 |
Customer Relationships [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Other intangibles | $ 33 | $ 39 |
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, 2022 | Aug. 31, 2021 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | $ 8,276 | |
Intangible assets and goodwill at end of period | 8,278 | $ 8,276 |
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 | 2,445 | 2,445 |
Additions | 0 | 0 |
Disposition | 0 | 0 |
Intangible assets and goodwill at end of period | $ 2,445 | $ 2,445 |
Intangibles And Goodwill (Intan
Intangibles And Goodwill (Intangibles Subject To Amoritzation) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | $ 524 | $ 522 | $ 523 |
Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 1,111 | 1,013 | |
Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 587 | 491 | |
Software [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 489 | 481 | 471 |
Software [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 995 | 897 | |
Software [Member] | Accumulated Amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 506 | 416 | |
Software Under Construction [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 2 | 2 | 8 |
Software Under Construction [member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 2 | 2 | |
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 | 33 | 39 | $ 44 |
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 | $ 81 | $ 75 |
Intangibles And Goodwill (Cha_2
Intangibles And Goodwill (Changes In Carrying Amount Of Intangibles) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | $ 522 | $ 523 |
Additions | 160 | 138 |
Transfers | (1) | 2 |
Dispositions | 0 | 0 |
Amortization | (157) | (141) |
Ending balance | 524 | 522 |
Software [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 481 | 471 |
Additions | 160 | 138 |
Transfers | (1) | 8 |
Dispositions | 0 | 0 |
Amortization | (151) | (136) |
Ending balance | 489 | 481 |
Software Under Construction [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 2 | 8 |
Additions | 0 | 0 |
Transfers | 0 | (6) |
Dispositions | 0 | 0 |
Amortization | 0 | 0 |
Ending balance | 2 | 2 |
Customer Relationships [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 39 | 44 |
Additions | 0 | 0 |
Transfers | 0 | 0 |
Dispositions | 0 | 0 |
Amortization | (6) | (5) |
Ending balance | $ 33 | $ 39 |
Intangibles And Goodwill (Cha_3
Intangibles And Goodwill (Changes In Market Conditions Related To Discount Rates And Terminal Value) (Details) | 12 Months Ended |
Aug. 31, 2022 | |
Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Post-tax discount rates (%) | 8.50% |
Terminal growth rates (%) | (8.50%) |
Terminal Operating income before Restructuring Costs and Amortization Multiple | 5.6 |
Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Post-tax discount rates (%) | 7.80% |
Terminal growth rates (%) | 2.50% |
Terminal Operating income before Restructuring Costs and Amortization Multiple | 8.7 |
Intangibles And Goodwill (Sch_2
Intangibles And Goodwill (Schedule Of Sensitivity Analysis Of Significant Estimates) (Details) | 12 Months Ended |
Aug. 31, 2022 | |
Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 8.50% |
1% decrease in terminal growth rate | (8.50%) |
Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 7.80% |
1% decrease in terminal growth rate | 2.50% |
Estimated Decline In Recoverable Amount [Member] | Satellite [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 5.20% |
1% decrease in terminal growth rate | 4% |
0.5 times decrease in terminal operating income before restructuring costs and amortization multiple | 5% |
Estimated Decline In Recoverable Amount [Member] | Wireless [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
1% increase in discount rate | 15.60% |
1% decrease in terminal growth rate | 12.90% |
0.5 times decrease in terminal operating income before restructuring costs and amortization multiple | 2.20% |
Short-Term Borrowings (Narrativ
Short-Term Borrowings (Narrative) (Details) $ in Millions | Aug. 31, 2022 CAD ($) |
Accounts Receivable Securitization [Member] | Maximum [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Trade receivables | $ 200 |
Short-Term Borrowings (Reconcil
Short-Term Borrowings (Reconciliation of Accounts Receivable Securitization) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Short-term borrowings, beginning balance | $ 200 | $ 200 |
Repayment of accounts receivable securitization | 0 | 0 |
Short-term borrowings, ending balance | $ 200 | $ 200 |
Short-Term Borrowings (Summary
Short-Term Borrowings (Summary of Accounts Receivable Securitization) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | |||
Trade accounts receivable sold to buyer as security | $ 362 | $ 362 | |
Short-term borrowings from buyer | (200) | (200) | $ (200) |
Accounts Receivable Securitization [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Trade accounts receivable sold to buyer as security | 321 | 416 | |
Short-term borrowings from buyer | (200) | (200) | |
Overcollateralization | $ 121 | $ 216 |
Accounts Payable And Accrued _3
Accounts Payable And Accrued Liabilities (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Accounts Payable And Accrued Liabilities [Abstract] | ||
Trade | $ 133 | $ 112 |
Program rights | 3 | 4 |
Accrued liabilities | 422 | 521 |
Accrued network fees | 117 | 117 |
Interest and dividends | 260 | 210 |
Related parties (note 29) | 24 | 24 |
Total accounts payable and accrued liabilities | $ 959 | $ 988 |
Provisions (Details)
Provisions (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
May 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of other provisions [line items] | |||
Provisions, Beginning | $ 123 | $ 181 | |
Additions | 9 | 24 | |
Accretion | 1 | 1 | |
Reversal | (1) | (58) | |
Payments | (6) | (25) | |
Current | 45 | 46 | |
Long-term | 81 | 77 | |
Provisions, Ending | 126 | 123 | |
Payments made on severence and employee related provision | (1) | ||
Reversal of Internet Access rates | $ 20 | ||
Interest expense | $ 35 | 260 | 231 |
Previously stated [member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 123 | ||
Current | 46 | ||
Long-term | 77 | ||
Provisions, Ending | 123 | ||
Increase (decrease) due to changes in accounting policy [member] | |||
Disclosure of other provisions [line items] | |||
Current | 45 | ||
Long-term | 81 | ||
Provisions, Ending | 126 | ||
Asset Retirement Obligations [Member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 77 | 79 | |
Additions | 4 | (3) | |
Accretion | 1 | 1 | |
Reversal | (1) | 0 | |
Payments | 0 | 0 | |
Provisions, Ending | 81 | 77 | |
Asset Retirement Obligations [Member] | Previously stated [member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 77 | ||
Current | 0 | ||
Long-term | 77 | ||
Provisions, Ending | 77 | ||
Asset Retirement Obligations [Member] | Increase (decrease) due to changes in accounting policy [member] | |||
Disclosure of other provisions [line items] | |||
Current | 0 | ||
Long-term | 81 | ||
Provisions, Ending | 81 | ||
Restructuring [Member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 2 | 13 | |
Additions | 0 | 14 | |
Accretion | 0 | 0 | |
Reversal | 0 | 0 | |
Payments | (1) | (25) | |
Provisions, Ending | 1 | 2 | |
Restructuring [Member] | Previously stated [member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 2 | ||
Current | 2 | ||
Long-term | 0 | ||
Provisions, Ending | 2 | ||
Restructuring [Member] | Increase (decrease) due to changes in accounting policy [member] | |||
Disclosure of other provisions [line items] | |||
Current | 1 | ||
Long-term | 0 | ||
Provisions, Ending | 1 | ||
Other [Member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 44 | 89 | |
Additions | 5 | 13 | |
Accretion | 0 | 0 | |
Reversal | 0 | (58) | |
Payments | (5) | 0 | |
Provisions, Ending | 44 | 44 | |
Other [Member] | Previously stated [member] | |||
Disclosure of other provisions [line items] | |||
Provisions, Beginning | 44 | ||
Current | 44 | ||
Long-term | 0 | ||
Provisions, Ending | $ 44 | ||
Other [Member] | Increase (decrease) due to changes in accounting policy [member] | |||
Disclosure of other provisions [line items] | |||
Current | 44 | ||
Long-term | 0 | ||
Provisions, Ending | $ 44 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | Feb. 28, 2018 | |
Disclosure of detailed information about borrowings [line items] | |||
Interest expense on other financial liabilities | $ 35 | ||
Arrangement Agreement [Member] | Termination Fee Payable [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Estimated financial effect of contingent liabilities | $ 800 | ||
Floating interest rate [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 3.90% | 3.62% | |
Fixed interest rate [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 0% | 0% | |
Fixed rate senior notes 3.80% due November 2, 2023 [Member] | |||
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] | |||
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] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 3.80% | ||
Fixed rate senior notes 3.30% due December 10, 2029 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 3.30% | ||
Fixed rate senior notes 4.40% due November 2, 2028 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 4.40% | ||
Fixed rate senior notes 2.90% due December 9, 2030 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 2.90% | ||
Fixed rate senior notes 6.75% due November 9, 2039 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 6.75% | ||
Fixed rate senior notes 4.25% due December 9, 2049 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 4.25% | ||
Unsecured credit facility [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Credit facility, maximum borrowing capacity | $ 1,500 | ||
Maturity | December 2024 | ||
Revolving term facility [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Credit facility, maximum borrowing capacity | $ 50 | ||
Committed letters of credit [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Line of Credit | $ 3 | $ 4 | |
Burrard Landing Lot 2 Holdings Partnership [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Proceeds from loan excess funds | $ 10 | ||
Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Ownership interest | 33.33% | ||
Number of years interest paid | 5 years | ||
Proceeds from loan excess funds | $ 30 | ||
Burrard Landing Lot 2 Holdings Partnership [Member] | Other related parties [Member] | Fixed interest rate [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate (as a percent) | 4.683% | 4.14% |
Long-Term Debt (Summary Of Long
Long-Term Debt (Summary Of Long-Term Debt) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | $ 4,597 | $ 4,597 |
Less current portion | 1 | 1 |
Non-current portion | $ 4,552 | 4,549 |
Fixed rate senior notes 3.80% due November 2, 2023 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 3.80% | |
Fixed rate senior notes 3.80% due November 2, 2023 [Member] | 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] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 4.35% | |
Fixed rate senior notes 4.35% due January 31, 2024 [Member] | 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] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 3.80% | |
Fixed rate senior notes 3.80% due March 1, 2027 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 3.84% | |
Fixed rate senior notes 4.40% due November 2, 2028 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 4.40% | |
Fixed rate senior notes 4.40% due November 2, 2028 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 4.40% | |
Fixed rate senior notes 3.30% due December 10, 2029 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 3.30% | |
Fixed rate senior notes 3.30% due December 10, 2029 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 3.41% | |
Fixed rate senior notes 2.90% due December 9, 2030 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 2.90% | |
Fixed rate senior notes 2.90% due December 9, 2030 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 2.92% | |
Fixed rate senior notes 6.75% due November 9, 2039 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 6.75% | |
Fixed rate senior notes 6.75% due November 9, 2039 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 6.89% | |
Fixed rate senior notes 4.25% due December 9, 2049 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 4.25% | |
Fixed rate senior notes 4.25% due December 9, 2049 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 4.33% | |
Long-term debt at amortized cost [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | $ 4,553 | 4,550 |
Less current portion | 1 | 1 |
Non-current portion | 4,552 | 4,549 |
Long-term debt at amortized cost [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 4,506 | 4,503 |
Long-term debt at amortized cost [Member] | Fixed rate senior notes 3.80% due November 2, 2023 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 499 | 499 |
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 | 500 | 499 |
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 | 299 | 299 |
Long-term debt at amortized cost [Member] | Fixed rate senior notes 4.40% due November 2, 2028 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 497 | 497 |
Long-term debt at amortized cost [Member] | Fixed rate senior notes 3.30% due December 10, 2029 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 496 | 496 |
Long-term debt at amortized cost [Member] | Fixed rate senior notes 2.90% due December 9, 2030 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 497 | 496 |
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 | 1,422 | 1,421 |
Long-term debt at amortized cost [Member] | Fixed rate senior notes 4.25% due December 9, 2049 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 296 | 296 |
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 | 47 | 47 |
Adjustment for Finance Costs [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 44 | 47 |
Less current portion | 0 | 0 |
Non-current portion | 44 | 47 |
Adjustment for Finance Costs [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 44 | 47 |
Adjustment for Finance Costs [Member] | Fixed rate senior notes 3.80% due November 2, 2023 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 1 | 1 |
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 | 0 | 1 |
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 | 1 |
Adjustment for Finance Costs [Member] | Fixed rate senior notes 4.40% due November 2, 2028 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 3 | 3 |
Adjustment for Finance Costs [Member] | Fixed rate senior notes 3.30% due December 10, 2029 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 4 | 4 |
Adjustment for Finance Costs [Member] | Fixed rate senior notes 2.90% due December 9, 2030 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 3 | 4 |
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 | 28 | 29 |
Adjustment for Finance Costs [Member] | Fixed rate senior notes 4.25% due December 9, 2049 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 4 | 4 |
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 | 0 | 0 |
Long-term Debt Repayable at Maturity [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 4,597 | 4,597 |
Less current portion | 1 | 1 |
Non-current portion | 4,596 | 4,596 |
Long-term Debt Repayable at Maturity [member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 4,550 | 4,550 |
Long-term Debt Repayable at Maturity [member] | Fixed rate senior notes 3.80% due November 2, 2023 [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 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 November 2, 2028 [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 3.30% due December 10, 2029 [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 2.90% due December 9, 2030 [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 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] | Fixed rate senior notes 4.25% due December 9, 2049 [Member] | Corporate [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total consolidated debt | 300 | 300 |
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 | $ 47 | $ 47 |
Long-Term Debt (Long-Term Debt
Long-Term Debt (Long-Term Debt Repayments) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 4,597 | $ 4,597 |
2023 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1 | |
2024 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,001 | |
2025 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 45 | |
2026 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 0 | |
2027 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 300 | |
Thereafter [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 3,250 |
Long-Term Debt (Interest Expens
Long-Term Debt (Interest Expense) (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
May 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure Of Borrowings [Abstract] | |||
Interest expense - long-term debt | $ 223 | $ 223 | |
Amortization of senior notes discounts | 1 | 1 | |
Interest income - short-term (net) | (5) | (4) | |
Interest on lease liabilities (note 14) | 41 | 45 | |
Interest expense - other | 0 | (34) | |
Interest expense | $ 35 | $ 260 | $ 231 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) $ in Millions, $ in Millions | 12 Months Ended | |||
Aug. 31, 2022 CAD ($) | Aug. 31, 2022 USD ($) | Aug. 31, 2021 CAD ($) | Aug. 31, 2020 CAD ($) | |
Leases [Line items] | ||||
Lease Liabilities | $ 1,130 | $ 1,245 | $ 1,270 | |
Interest rate | 3.64% | 3.64% | ||
Transponders [Member] | ||||
Leases [Line items] | ||||
Commitment For Maintenance And Licence Fees For Equipment, Period | 15 years | |||
Lease Liabilities | $ 203 |
Leases (Right of Use Assets) (D
Leases (Right of Use Assets) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Presentation of leases for lessee [abstract] | ||
Openning Balance, Net book value | $ 1,193 | $ 1,246 |
Additions | 27 | 114 |
Amortization | (133) | (139) |
Leasehold inducements | (4) | |
Lease terminations and other | (27) | (28) |
Ending balance, Net book value | $ 1,056 | $ 1,193 |
Leases (Lease Liabilities) (Det
Leases (Lease Liabilities) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Lease liabilities [abstract] | ||
Opening Balance | $ 1,245 | $ 1,270 |
Net additions | 1 | 85 |
Interest on lease liabilities | 41 | 45 |
Interest payments on lease liabilities | (41) | (45) |
Principal payments on lease liabilities | (114) | (110) |
Other | (2) | 0 |
Current | 113 | 110 |
Lont-term | 1,017 | 1,135 |
Ending Balance | $ 1,130 | $ 1,245 |
Leases (Rental Expense) (Detail
Leases (Rental Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Presentation of leases for lessee [abstract] | ||
Expenses related to variable lease components not included in lease liabilities | $ 24 | $ 20 |
Expenses related to low-value leases | 33 | 33 |
Rental expense | $ 57 | $ 53 |
Other Long-Term Liabilities (De
Other Long-Term Liabilities (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Pension liabilities (note 28) | $ 4 | $ 21 |
Post retirement liabilities (note 28) | 4 | 5 |
Other long-term liabilities | $ 8 | $ 26 |
Deferred Credits (Disclosure of
Deferred Credits (Disclosure of Deferred Credits) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Deferred credits | $ 373 | $ 389 |
IRU prepayments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Deferred credits | 362 | 374 |
Equipment Revenue [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Deferred credits | 9 | 13 |
Deposit On Future Fibre Sale [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Deferred credits | $ 2 | $ 2 |
Deferred Credits (Narrative) (D
Deferred Credits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | $ 22 | $ 25 |
Iru Prepayments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | 13 | 13 |
Equipment Revenue [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortization of deferred credits | $ 9 | $ 11 |
Bottom of range [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortisation period of deferred credits | 11 years | |
Top of range [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Amortisation period of deferred credits | 60 years |
Share Capital (Narrative) (Deta
Share Capital (Narrative) (Details) $ / shares in Units, $ in Millions | 12 Months Ended | |||||||
Jun. 30, 2021 CAD ($) $ / shares shares | Nov. 02, 2020 | Oct. 24, 2019 | Aug. 31, 2021 CAD ($) shares | Aug. 31, 2021 $ / shares shares | Aug. 31, 2022 shares | Nov. 02, 2021 shares | Aug. 31, 2020 shares | |
Disclosure of classes of share capital [line items] | ||||||||
Number of shares outstanding | 498,909,326 | 498,909,326 | 499,547,162 | |||||
Average book value of shares repurchased | $ / shares | $ 8.77 | |||||||
Excess of the market price of treasury shares over average book value, including transaction costs | $ | $ 207 | |||||||
Cancellation of shares | $ | $ 336 | |||||||
Shares repurchased | 14,783,974 | |||||||
Class A Shares [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of shares outstanding | 22,372,064 | 22,372,064 | 22,372,064 | 22,372,064 | ||||
Par value | $ / shares | $ 0 | |||||||
Preferred shares redemption price, per share | $ / shares | $ 25 | |||||||
Number of shares issued | 10,012,393 | |||||||
Class B Shares [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of shares outstanding | 1,987,607 | |||||||
Par value | $ / shares | $ 0 | |||||||
Preferred shares redemption price, per share | $ / shares | $ 25 | |||||||
Preferred Stock, Redemption Amount | $ | $ 300 | |||||||
Treasury shares [member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Percentage of issued and outstanding shares | 5% | |||||||
Treasury shares [member] | Class B Shares [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of shares outstanding | 24,532,404 | |||||||
Minimum [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Discount rate for shares under DRIP | 2% | |||||||
Maximum [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Discount rate for shares under DRIP | 0% |
Share Capital (Disclosure of Ca
Share Capital (Disclosure of Capital Stock) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 499,547,162 | 498,909,326 | |
Issued capital | $ 4,217 | $ 4,199 | |
Class A Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 22,372,064 | 22,372,064 | 22,372,064 |
Issued capital | $ 2 | $ 2 | $ 2 |
Class B Non-Voting Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 477,175,098 | 476,537,262 | 490,632,833 |
Issued capital | $ 4,215 | $ 4,197 | $ 4,307 |
Series A Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 0 | 0 | |
Issued capital | $ 0 | $ 0 | |
Series B Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding | 0 | 0 | |
Issued capital | $ 0 | $ 0 |
Share Capital (Disclosure of Ch
Share Capital (Disclosure of Changes in Share Capital) (Details) $ in Millions | 12 Months Ended | ||
Aug. 31, 2022 CAD ($) shares | Aug. 31, 2021 CAD ($) shares | ||
Disclosure of classes of share capital [line items] | |||
Number of shares, beginning balance | shares | 498,909,326 | ||
Stock options exercises, shares | shares | [1] | 627,751 | 681,980 |
Number of shares, ending balance | shares | 499,547,162 | 498,909,326 | |
Beginning balance | $ 4,199 | ||
Stock option exercises | 17 | $ 18 | |
Shares Repurchased | (336) | ||
Ending balance | $ 4,217 | $ 4,199 | |
Class A Shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Number of shares, beginning balance | shares | 22,372,064 | 22,372,064 | |
Stock options exercises, shares | shares | 0 | 0 | |
Restricted Share Units, shares | shares | 0 | 0 | |
Shares Repurchased, shares | shares | 0 | ||
Number of shares, ending balance | shares | 22,372,064 | 22,372,064 | |
Beginning balance | $ 2 | $ 2 | |
Stock option exercises | 0 | 0 | |
Restricted Share Units | 0 | 0 | |
Shares Repurchased | 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 | 476,537,262 | 490,632,833 | |
Stock options exercises, shares | shares | 627,751 | 681,980 | |
Restricted Share Units, shares | shares | 10,085 | 6,423 | |
Shares Repurchased, shares | shares | (14,783,974) | ||
Number of shares, ending balance | shares | 477,175,098 | 476,537,262 | |
Beginning balance | $ 4,197 | $ 4,307 | |
Stock option exercises | 18 | 19 | |
Restricted Share Units | 0 | 0 | |
Shares Repurchased | (129) | ||
Ending balance | $ 4,215 | $ 4,197 | |
[1]The weighted average Class B Share price for the options exercised for the year ended August 31, 2022 was $37.35 (2021 – $33.67). |
Share-Based Compensation And _3
Share-Based Compensation And Awards (Narrative) (Details) - CAD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Maximum [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Performance | 150% | |
Stock Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting percentage | 20% | |
Award vesting term | 10 years | |
Weighted average grant date fair value | $ 0 | $ 1.42 |
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% | |
Share based payment arrangement employee matching contribution, percent of match | 25% | |
Stock-based compensation | $ 6 | $ 5 |
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% | |
Class B Non-Voting Shares [Member] | Stock Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares authorised | 62,000,000 | |
Number of shares issued | 40,947,143 | |
Class B Non-Voting Shares [Member] | Restricted Share Units [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Liabilities from share-based payment transactions | $ 17 | 30 |
Intrinsic value of liabilities from share-based payment transactions | 17 | 30 |
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 | 0 | 11 |
Liabilities from share-based payment transactions | 31 | 35 |
Intrinsic value of liabilities from share-based payment transactions | 28 | 33 |
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 | $ 11 | $ 22 |
Share-Based Compensation And _4
Share-Based Compensation And Awards (Stock Options Activity) (Details) | 12 Months Ended | ||
Aug. 31, 2022 shares $ / shares | Aug. 31, 2021 shares $ / shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of options, beginning of year (in shares) | shares | 7,499,890 | 7,358,130 | |
Number of options, Granted (in shares) | shares | 1,423,000 | ||
Number of options, Forfeited (in shares) | shares | (76,853) | (599,260) | |
Number of options, Exercised (in shares) | shares | [1] | (627,751) | (681,980) |
Number of options, end of year (in shares) | shares | 6,795,286 | 7,499,890 | |
Weighted average exercise price, beginning of year | $ / shares | $ 25.56 | $ 26.36 | |
Weighted average exercise price, Granted | $ / shares | 21.82 | ||
Weighted average exercise price, Forfeited | $ / shares | 24.82 | 26.33 | |
Weighted average exercise price, Exercised | $ / shares | [1] | 26.01 | 25.84 |
Weighted average exercise price, end of year | $ / shares | $ 25.54 | $ 25.56 | |
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 | (627,751) | (681,980) | |
Weighted average exercise price, Exercised | $ / shares | $ 37.35 | $ 33.67 | |
[1]The weighted average Class B Share price for the options exercised for the year ended August 31, 2022 was $37.35 (2021 – $33.67). |
Share-Based Compensation And _5
Share-Based Compensation And Awards (Stock Option Range of Exercise Prices) (Details) | 12 Months Ended | ||
Aug. 31, 2022 shares $ / shares | Aug. 31, 2021 shares $ / shares | Aug. 31, 2020 shares $ / shares | |
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 6,795,286 | 7,499,890 | 7,358,130 |
Options outstanding, Weighted average exercise price | $ 25.54 | $ 25.56 | $ 26.36 |
Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,382,000 | ||
Options outstanding, Weighted average remaining contractual life (years) | 8 years 1 month 28 days | ||
Options outstanding, Weighted average exercise price | $ 21.82 | ||
Options exercisable, Number exercisable (in shares) | shares | 267,600 | ||
Options exercisable, Weighted average exercise price | $ 21.81 | ||
Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,312,159 | ||
Options outstanding, Weighted average remaining contractual life (years) | 3 years 3 months 10 days | ||
Options outstanding, Weighted average exercise price | $ 24.35 | ||
Options exercisable, Number exercisable (in shares) | shares | 1,266,359 | ||
Options exercisable, Weighted average exercise price | $ 24.33 | ||
Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,393,320 | ||
Options outstanding, Weighted average remaining contractual life (years) | 5 years 1 month 28 days | ||
Options outstanding, Weighted average exercise price | $ 26.28 | ||
Options exercisable, Number exercisable (in shares) | shares | 1,094,070 | ||
Options exercisable, Weighted average exercise price | $ 26.27 | ||
Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,366,825 | ||
Options outstanding, Weighted average remaining contractual life (years) | 4 years 8 months 15 days | ||
Options outstanding, Weighted average exercise price | $ 27.04 | ||
Options exercisable, Number exercisable (in shares) | shares | 1,082,425 | ||
Options exercisable, Weighted average exercise price | $ 27.07 | ||
Range 5 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Options outstanding, Number outstanding (in shares) | shares | 1,340,982 | ||
Options outstanding, Weighted average remaining contractual life (years) | 4 years 5 months 8 days | ||
Options outstanding, Weighted average exercise price | $ 28.23 | ||
Options exercisable, Number exercisable (in shares) | shares | 1,237,582 | ||
Options exercisable, Weighted average exercise price | $ 28.26 | ||
Minimum [Member] | Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 20.16 | ||
Minimum [Member] | Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 21.87 | ||
Minimum [Member] | Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.18 | ||
Minimum [Member] | Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.33 | ||
Minimum [Member] | Range 5 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 27.43 | ||
Maximum [Member] | Range 1 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 21.86 | ||
Maximum [Member] | Range 2 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.17 | ||
Maximum [Member] | Range 3 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 26.32 | ||
Maximum [Member] | Range 4 [Member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise prices | 27.42 | ||
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, 2022 | Aug. 31, 2021 | |
Share Based Payment Arrangements [Abstract] | ||
Dividend yield | 5.43% | |
Risk-free interest rate | 0.50% | |
Expected life of options | 7 | |
Expected volatility factor of the future expected market price of Class B Shares | 20% |
Earnings Per Share (Details)
Earnings Per Share (Details) - CAD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Earnings Per Share [Abstract] | ||
Net income | $ 764 | $ 986 |
Deduct: dividends on Preferred Shares | 0 | (7) |
Net income attributable to common shareholders | $ 764 | $ 979 |
Weighted average number of Class A Shares and Class B Non-Voting Shares for basic earnings per share | 499,000,000 | 504,000,000 |
Effect of dilutive securities | 2,000,000 | 1,000,000 |
Weighted average number of Class A Shares and Class B Non-Voting Shares for diluted earnings per share | 501,000,000 | 505,000,000 |
Basic earnings per share | $ 1.53 | $ 1.94 |
Diluted earnings per share | $ 1.52 | $ 1.94 |
Antidilutive securities (in shares) | 0 | 174,031 |
Dividends (Narrative) (Details)
Dividends (Narrative) (Details) - $ / shares | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Aug. 31, 2022 | Aug. 31, 2020 | |
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% | ||
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% | |
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 | ||
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% | ||
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% |
Dividends (Floating Quarterly D
Dividends (Floating Quarterly Dividend Rate) (Details) - Series B Preferred Shares [Member] | 12 Months Ended |
Aug. 31, 2022 | |
June 30, 2020 to September 29, 2020 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.255% |
September 30, 2020 to December 30, 2020 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.149% |
December 31, 2020 to March 30, 2021 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.109% |
March 31, 2021 to June 29, 2021 [Member] | |
Disclosure of classes of share capital [line items] | |
Floating quarterly dividend rate | 2.073% |
Dividends (Dividends Declared)
Dividends (Dividends Declared) (Details) - $ / shares | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Class A Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | $ 1.281 | $ 1.1825 |
Class B Non-Voting Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | 1.2838 | 1.185 |
Series A Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | 0 | 0.5233 |
Series B Shares [Member] | ||
Disclosure of classes of share capital [line items] | ||
Dividends declared, per share | $ 0 | $ 0.3957 |
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, 2022 | Aug. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [line items] | ||
Derivative instruments accounted for as hedges | $ 6 | $ (1) |
Change in unrealized fair value of derivatives designated as cash flow hedges, Income taxes | (1) | 0 |
Derivative instruments accounted for as hedges, net of tax | 5 | (1) |
Adjustment for hedged itemes recognized in the period, Amount | 0 | 6 |
Adjustment for hedged itemes recognized in the period, Income taxes | 0 | (1) |
Change in unrealized fair value of derivatives designated as cash flow hedges, Net | 0 | 5 |
Items that may subsequently be reclassified to net income, Amount | 6 | 5 |
Items that may subsequently be reclassified to net income, Income taxes | (1) | (1) |
Items that may subsequently be reclassified to net income, Net | 5 | 4 |
Remeasurements on employee benefit plans, Amount | 63 | 48 |
Remeasurements on employee benefit plans, Income taxes | (16) | (12) |
Remeasurements on employee benefit plans, Net | 47 | 36 |
Other comprehensive income, Amount | 69 | 53 |
Other comprehensive income, Income taxes | (17) | (13) |
Other comprehensive income (loss) | $ 52 | $ 40 |
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, 2022 | Aug. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [line items] | ||
Remeasurements on employee benefit plans | $ 47 | $ 36 |
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 | 3 | (1) |
Remeasurements on employee benefit plans | (10) | (58) |
Accumulated other comprehensive (loss) income | $ (7) | $ (59) |
Revenue (Narrative) (Details)
Revenue (Narrative) (Details) | 12 Months Ended |
Aug. 31, 2022 | |
Bottom Of Range [Member] | |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | |
Useful Lives Or Amortisation Rates Intangible Assets Other Than Goodwill Duration | 24 months |
Top Of Range [Member] | |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | |
Useful Lives Or Amortisation Rates Intangible Assets Other Than Goodwill Duration | 36 months |
Revenue (Contract Assets And Li
Revenue (Contract Assets And Liabilities) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Contract Assets [Abstract] | ||
Opening balance | $ 125 | $ 172 |
Increase in contract assets from revenue recognized during the period | 93 | 140 |
Contract assets transferred to trade receivables | (112) | (171) |
Contract terminations transferred to trade receivables | (20) | (16) |
Ending balance | 86 | 125 |
Contract Liabilities [Abstract] | ||
Opening balance | 228 | 225 |
Revenue recognized included in contract liabilities at the beginning of the year | (222) | (219) |
Increase in contract liabilities during the period | 214 | 222 |
Ending balance | $ 220 | $ 228 |
Revenue (Schedule Of Contract A
Revenue (Schedule Of Contract Assets And Liabilities) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Contract Assets [Abstract] | |||
Current portion of contract assets | $ 63 | $ 97 | |
Long-term | 23 | 28 | |
Balance | 86 | 125 | $ 172 |
Contract Liabilities [Abstract] | |||
Current portion of contract liabilities | 200 | 213 | |
Long-term | 20 | 15 | |
Balance | $ 220 | $ 228 | $ 225 |
Revenue (Deferred Commission Co
Revenue (Deferred Commission Cost Assets) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | ||
Opening balance | $ 59 | |
Additions to deferred commission cost assets | 160 | $ 138 |
Amortization recognized on deferred commission cost assets | (157) | (141) |
Ending balance | 66 | 59 |
Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | ||
Balance | 66 | 59 |
Costs to obtain contracts with customers [member] | ||
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Line Items] | ||
Opening balance | 92 | 98 |
Additions to deferred commission cost assets | 93 | 75 |
Amortization recognized on deferred commission cost assets | (82) | (81) |
Ending balance | 103 | 92 |
Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | ||
Current | 66 | 59 |
Long-term | 37 | 33 |
Balance | $ 103 | $ 92 |
Revenue (Disaggregation Of Reve
Revenue (Disaggregation Of Revenue) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 5,448 | $ 5,509 |
Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 5,142 | 5,140 |
Equipment And Other [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 319 | 381 |
Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 5,461 | 5,521 |
Intersegment Eliminations [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | (13) | (12) |
Wireless [Member] | Service [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 972 | 891 |
Wireless [Member] | Equipment And Other [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 319 | 381 |
Wireless [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 1,291 | 1,272 |
Wireline [Member] | Service [Member] | Consumer [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 3,547 | 3,665 |
Wireline [Member] | Service [Member] | Business [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 623 | 584 |
Wireline [Member] | Operating Segments [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 4,170 | $ 4,249 |
Revenue (Remaining Performance
Revenue (Remaining Performance Obligations) (Details) $ in Millions | Aug. 31, 2022 CAD ($) |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | $ 3,172 |
Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 2,772 |
Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 400 |
Within 1 year [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 2,071 |
Within 1 year [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 1,763 |
Within 1 year [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 308 |
Within 2 years [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 824 |
Within 2 years [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 732 |
Within 2 years [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 92 |
Within 3 years [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 164 |
Within 3 years [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 164 |
Within 3 years [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 0 |
Within 4 years [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 84 |
Within 4 years [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 84 |
Within 4 years [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 0 |
Within 5 years [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 26 |
Within 5 years [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 26 |
Within 5 years [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 0 |
Thereafter [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 3 |
Thereafter [Member] | Wireline [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | 3 |
Thereafter [Member] | Wireless [Member] | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | |
Remaining performance obligations | $ 0 |
Operating, General And Admini_3
Operating, General And Administrative Expenses And Restructuring Costs (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | ||
Operating, General And Administrative Expenses And Restructuring Costs [Abstract] | |||
Employee salaries and benefits | [1] | $ 667 | $ 677 |
Purchase of goods and services | 2,247 | 2,346 | |
Total operating costs | 2,914 | 3,023 | |
Employee-related restructuring costs | $ 0 | $ 14 | |
[1]For the year ended August 31, 2022, employee salaries and benefits include restructuring costs of $nil (2021 – $14). |
Other Gains (Losses) (Details)
Other Gains (Losses) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | ||
Other Gains (Losses) [Abstract] | |||
Gain on disposal of fixed assets and intangibles | $ 5 | $ 3 | |
Costs associated with Rogers Transaction | (26) | (23) | |
Fair value adjustment of private investments | 0 | 27 | |
Other | [1] | (2) | (9) |
Total other gains (losses) | $ (23) | $ (2) | |
[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 ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
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 | 25.40% | 25.50% |
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 | $ 28 |
Income Taxes (Net Deferred Tax
Income Taxes (Net Deferred Tax Liability) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Income Taxes [Abstract] | |||
Deferred tax assets | $ 2 | $ 2 | |
Deferred tax liabilities | (1,962) | (1,998) | |
Net deferred tax liability | $ (1,960) | $ (1,996) | $ (1,967) |
Income Taxes (Significant Chang
Income Taxes (Significant Changes Recognized To Deferred Income Tax Assets (Liabilities)) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | $ (1,996) | $ (1,967) |
Recognized in statement of income | (54) | 16 |
Recognized in other comprehensive income | (18) | (13) |
Deferred tax assets (liabilities), end of period | (1,960) | (1,996) |
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 | (412) | (394) |
Recognized in statement of income | 19 | (18) |
Deferred tax assets (liabilities), end of period | (393) | (412) |
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 | (1,650) | (1,634) |
Recognized in statement of income | (9) | (16) |
Deferred tax assets (liabilities), end of period | (1,659) | (1,650) |
Partnership Income [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | (73) | (11) |
Recognized in statement of income | 88 | (62) |
Deferred tax assets (liabilities), end of period | 15 | (73) |
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 | 162 | 106 |
Recognized in statement of income | (46) | 56 |
Deferred tax assets (liabilities), end of period | 116 | 162 |
Accrued Charges [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | (26) | (34) |
Recognized in statement of income | 2 | 21 |
Recognized in other comprehensive income | (18) | (13) |
Deferred tax assets (liabilities), end of period | (42) | (26) |
Capital Loss Carry- Forwards [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets (liabilities), beginning of period | 3 | |
Recognized in statement of income | 3 | |
Deferred tax assets (liabilities), end of period | $ 3 | $ 3 |
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, 2022 | Aug. 31, 2021 | |
Income Taxes [Abstract] | ||
Current statutory income tax rate | 25.40% | 25.50% |
Income tax expense at current statutory rates | $ 259 | $ 263 |
Recognition Of Previously Unrecognized Tax Losses | 0 | (81) |
Revision to liabilities for uncertain tax positions | 0 | (125) |
Other | (2) | (11) |
Total income tax expense | $ 257 | $ 46 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Tax Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Income Taxes [Abstract] | ||
Current income tax expense | $ 311 | $ 155 |
Current tax recovery from revision to liabilities for uncertain tax positions | 0 | (125) |
Deferred tax expense (recovery) related to temporary differences | (54) | 97 |
Deferred tax recovery from the recognition of previously unrecognized tax losses | 0 | (81) |
Total income tax expense | $ 257 | $ 46 |
Business Segment Information (I
Business Segment Information (Information On Operations By Segment) (Details) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
May 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 5,448 | $ 5,509 | |
Operating income before restructuring costs and amortization | 2,534 | 2,500 | |
Restructuring costs | 0 | (14) | |
Amortization | (1,227) | (1,219) | |
Operating income | 1,307 | 1,267 | |
Interest | $ 35 | 260 | 231 |
Income tax expense (recovery) | 311 | 30 | |
Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,461 | 5,521 | |
Interest | 258 | 228 | |
Income tax expense (recovery) | 315 | 161 | |
Intersegment Eliminations [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (13) | (12) | |
Wireline [Member] | Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 4,170 | 4,249 | |
Operating income before restructuring costs and amortization | 2,049 | 2,107 | |
Wireless [Member] | Operating segments [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,291 | 1,272 | |
Operating income before restructuring costs and amortization | 485 | 393 | |
Other Non Operating [Member] | |||
Disclosure of operating segments [line items] | |||
Interest | 2 | 3 | |
Income tax expense (recovery) | $ (4) | $ (131) |
Business Segment Information _2
Business Segment Information (Information On Operations By Segment) (Parenthetical) (Details) $ in Millions | 12 Months Ended |
Aug. 31, 2022 CAD ($) | |
Business Segment Information [Abstract] | |
Adjustments for current tax of prior periods | $ 125 |
Business Segment Information (C
Business Segment Information (Capital Expenditures) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of operating segments [line items] | ||
Total of capital expenditures and equipment costs (net) | $ 1,096 | $ 1,017 |
Additions to property, plant and equipment | 926 | 858 |
Additions to equipment costs (net) | 12 | 21 |
Additions to other intangibles | 158 | 138 |
Increase (decrease) in other liabilities related to ARO additions | (4) | 3 |
Less: Proceeds on disposal of property, plant and equipment | (18) | (21) |
Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 1,073 | 981 |
Total of capital expenditures and equipment costs (net) | 1,087 | 1,003 |
Increase in working capital and other liabilities related to capital accruals | 13 | 4 |
Less: Proceeds on disposal of property, plant and equipment | (18) | (21) |
Wireline [Member] | Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 938 | 701 |
Equipment costs (net of revenue) | 14 | 22 |
Total of capital expenditures and equipment costs (net) | 952 | 723 |
Wireless [Member] | Operating segments [Member] | ||
Disclosure of operating segments [line items] | ||
Capital expenditures accrual basis | 135 | 280 |
Total of capital expenditures and equipment costs (net) | $ 135 | $ 280 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | 12 Months Ended |
Aug. 31, 2022 CAD ($) | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Guarantee instruments | $ 3 |
Minimum [Member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Indemnification period | 2 years |
Maximum [Member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Indemnification period | 4 years |
Commitments And Contingencies_3
Commitments And Contingencies (Long-Term Operating Commitments) (Details) $ in Millions | Aug. 31, 2022 CAD ($) | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Purchase obligations | $ 1,143 | [1] |
Property, Plant and Equipment | 228 | |
Within one year [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Purchase obligations | 578 | [1] |
Property, Plant and Equipment | 226 | |
1-3 Years [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Purchase obligations | 288 | [1] |
Property, Plant and Equipment | 2 | |
3-5 years [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Purchase obligations | 120 | [1] |
Property, Plant and Equipment | 0 | |
Over 5 years [Member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Purchase obligations | 157 | [1] |
Property, Plant and Equipment | $ 0 | |
[1]Includes contractual obligations under service, product, and wireless device contracts, program related agreements and exclusive rights to use intellectual property in Canada. |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 CAD ($) item | Aug. 31, 2021 CAD ($) | |
Disclosure of defined benefit plans [line items] | ||
Voluntary employee contributions | 25% | |
Number of defined benefit plans | item | 2 | |
Length of service for eligible benefits | 3 years | |
Post-retirement benefit plan expense | $ 11 | $ 12 |
Estimate of contributions expected to be paid to plan for next annual reporting period | ||
Discount Rate [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 44 | |
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 | $ 1 | |
Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 5% | 3.10% |
Defined Benefit Plans - Non-Union [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Employer contribution on eligible earnings, percentage | 5% | |
Post-retirement benefit plan expense | $ 33 | $ 30 |
Defined Benefit Plans - Union [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Employer contribution on eligible earnings, percentage | 9.80% | |
Post-retirement benefit plan capitalized | $ 26 | 23 |
SERP [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 11 years 3 months 18 days | |
Post-retirement benefit plan expense | $ 1 | $ 2 |
SERP [Member] | Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.10% | 2.70% |
ERP [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 12 years 2 months 12 days | |
Post-retirement benefit plan expense | $ 10 | $ 10 |
ERP [Member] | Benefit Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.10% | 2.70% |
Other Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit plans | 13 years 9 months 18 days | |
Other Benefit Plans [Member] | Discount Rate [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Post retirement benefit plan interest and service cost | $ 1 | |
Other Benefit Plans [Member] | Service and Interest Cost [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Post retirement benefit plan interest and service cost | $ 0 | $ 0 |
Other Benefit Plans [Member] | Benefit Obligation [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.10% | 2.70% |
Employee Benefit Plans (Accrued
Employee Benefit Plans (Accrued Benefit Liabilities Recognized) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of defined benefit plans [line items] | ||
Accrued benefit obligation | $ 385 | $ 489 |
Fair value of plan assets | 415 | 468 |
Accrued benefit (assets) liabilities and deficit | $ (30) | $ 21 |
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 | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | $ 21 | |
Current service cost | 9 | $ 9 |
Net defined benefit (assets) liabilities, ending balance | (30) | 21 |
Accrued Benefit Obligation [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 489 | 513 |
Current service cost | 9 | 9 |
Interest cost (income) | 16 | 14 |
Transfer from DC plan | 1 | |
Payment of benefits to employees | (21) | (22) |
Effect of changes in financial assumptions | (91) | (27) |
Effect of experience adjustments | (17) | 1 |
Net defined benefit (assets) liabilities, ending balance | 385 | 489 |
Fair Value Of Plan Assets [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 468 | 445 |
Employer contributions | 10 | |
Interest cost (income) | 14 | 11 |
Transfer from DC plan | 1 | |
Payment of benefits to employees | (21) | (22) |
Return on plan assets, excluding interest income | (46) | 23 |
Net defined benefit (assets) liabilities, ending balance | 415 | 468 |
SERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 19 | |
Current service cost | 0 | 0 |
Net defined benefit (assets) liabilities, ending balance | (34) | 19 |
SERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 447 | 477 |
Interest cost (income) | 14 | 13 |
Payment of benefits to employees | (20) | (20) |
Effect of changes in financial assumptions | (81) | (24) |
Effect of experience adjustments | (16) | 1 |
Net defined benefit (assets) liabilities, ending balance | 344 | 447 |
SERP [Member] | Fair Value Of Plan Assets [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 428 | 415 |
Interest cost (income) | 13 | 11 |
Payment of benefits to employees | (20) | (20) |
Return on plan assets, excluding interest income | (43) | 22 |
Net defined benefit (assets) liabilities, ending balance | 378 | 428 |
ERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 2 | |
Current service cost | 9 | 9 |
Net defined benefit (assets) liabilities, ending balance | 4 | 2 |
ERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 42 | 36 |
Current service cost | 9 | 9 |
Interest cost (income) | 2 | 1 |
Transfer from DC plan | 1 | |
Payment of benefits to employees | (1) | (2) |
Effect of changes in financial assumptions | (10) | (3) |
Effect of experience adjustments | (1) | 0 |
Net defined benefit (assets) liabilities, ending balance | 41 | 42 |
ERP [Member] | Fair Value Of Plan Assets [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit (assets) liabilities, beginning balance | 40 | 30 |
Employer contributions | 10 | |
Interest cost (income) | 1 | 0 |
Transfer from DC plan | 1 | |
Payment of benefits to employees | (1) | (2) |
Return on plan assets, excluding interest income | (3) | 1 |
Net defined benefit (assets) liabilities, ending balance | $ 37 | $ 40 |
Employee Benefit Plans (Underly
Employee Benefit Plans (Underlying Plan Assets) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of fair value of plan assets [line items] | ||
Underlying plan assets | $ 415 | $ 468 |
SERP [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 207 | |
Fixed income securities | 62 | |
Equity securities - Canadian | 39 | |
Equity securities - Foreign | 70 | |
Underlying plan assets | 378 | |
ERP [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 22 | |
Fixed income securities | 5 | |
Equity securities - Canadian | 4 | |
Equity securities - Foreign | 6 | |
Underlying plan assets | $ 37 |
Employee Benefit Plans (Signifi
Employee Benefit Plans (Significant Weighted-Average Assumptions Used And Cost For The Plans) (Details) | Aug. 31, 2022 | Aug. 31, 2021 |
Benefit Cost [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Discount rate | 5% | 3.10% |
SERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Discount rate | 5% | 3.10% |
Rate of compensation increase | 3% | 3% |
SERP [Member] | Benefit Cost [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Discount rate | 3.10% | 2.70% |
Rate of compensation increase | 3% | 3% |
ERP [Member] | Accrued Benefit Obligation [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Discount rate | 5% | 3.10% |
Rate of compensation increase | 3% | 3% |
ERP [Member] | Benefit Cost [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Discount rate | 3.10% | 2.70% |
Rate of compensation increase | 3% | 3% |
Employee Benefit Plans (Net Pen
Employee Benefit Plans (Net Pension Benefit Plan Expense) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | $ 9 | $ 9 |
Interest cost | 16 | 14 |
Interest income | (14) | (11) |
Pension expense | 11 | 12 |
SERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | 0 | 0 |
Interest cost | 14 | 13 |
Interest income | (13) | (11) |
Pension expense | 1 | 2 |
ERP [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | 9 | 9 |
Interest cost | 2 | 1 |
Interest income | (1) | 0 |
Pension expense | $ 10 | $ 10 |
Employee Benefit Plans (Chang_2
Employee Benefit Plans (Change In Accrued Post-Retirement Obligation) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Current service cost | $ 9 | $ 9 |
Interest cost | 16 | 14 |
Other Benefit Plans [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Accrued benefit obligation and plan deficit, beginning of year | 5 | 4 |
Current service cost | 0 | 0 |
Interest cost | 0 | 0 |
Payment of benefits to employees | 0 | 0 |
Effect of changes in demographic assumptions | 0 | 1 |
Effect of changes in financial assumptions | (1) | (1) |
Effect of experience adjustments | 0 | 1 |
Accrued benefit obligation and plan deficit, end of year | $ 4 | $ 5 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Proceeds on sale of non-core business | $ 1 | ||
Property, plant and equipment | 5,883 | 6,019 | |
Lease Liabilities | $ 1,130 | 1,245 | $ 1,270 |
Shaw Family Living Trust [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Shares | 17,662,400 | ||
Ownership | 79% | ||
Noncore Property [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Property, plant and equipment | $ 4 | 4 | |
Director [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Collection, installation and maintenance services | 1 | 2 | |
Purchases | 10 | 4 | |
Network fees | 23 | 24 | |
Corus [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Network fees | 111 | 116 | |
Accounts payable and accrued liabilities | 19 | 20 | |
Advertising fees | 5 | 5 | |
Administrative fees | 1 | 1 | |
Administrative, advertising and other services | 1 | 1 | |
Uplink of television signals | 4 | 4 | |
Internet services and lease of circuits | 5 | 5 | |
Regulatory requirement fees | 12 | 12 | |
Burrard Landing Lot 2 Holding Partnership [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Leases as lessee | 9 | 10 | |
Burrard Landing Lot 2 Holding Partnership [Member] | Office Space Lease [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Lease Liabilities | $ 48 | $ 57 |
Related Party Transactions (Sch
Related Party Transactions (Schedule Of Significant Subsidiaries) (Details) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Shaw Cablesystems Limited [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Cablesystems G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Envision Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Telecom Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Telecom G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Satellite Services Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Star Choice Television Network Incorporated [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Shaw Satellite G.P. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
Freedom Mobile Inc. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Proportion of ownership interest in subsidiary | 100% | 100% |
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, 2022 | Aug. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | ||
Short-term employee benefits | $ 18 | $ 20 |
Post-employment pension benefits | 4 | 7 |
Share-based compensation | 8 | 22 |
Total compensation | $ 30 | $ 49 |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) $ in Millions | 12 Months Ended | |||
Sep. 01, 2021 CAD ($) | Aug. 31, 2022 CAD ($) | Aug. 31, 2021 CAD ($) | Aug. 31, 2020 CAD ($) | |
Disclosure of financial assets [line items] | ||||
Impact on net income with one dollar change | $ 1 | $ 2 | ||
Accounts receivable | 332 | 301 | ||
Provision for doubtful accounts | 67 | 78 | $ 74 | |
Credit risk [member] | ||||
Disclosure of financial assets [line items] | ||||
Accounts receivable | 332 | 301 | ||
Forward Contract [Member] | ||||
Disclosure of financial assets [line items] | ||||
Notional amount | $ 132 | $ 132 | ||
Forward contracts purchase period | 12 months | |||
Average foreign exchange rate | 1.2666 | 1.2756 | ||
Hypothetical exchange rate | 10% | |||
Hypothetical change resulting in a change to other comprehensive income | $ 13 | 12 | ||
Forward Contract [Member] | Past Due [Member] | ||||
Disclosure of financial assets [line items] | ||||
Accounts receivable | $ 87 | $ 124 |
Financial Instruments (Carrying
Financial Instruments (Carrying Values And Estimated Fair Values) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 |
Disclosure of fair value measurement of assets [line items] | ||
Long-term debt | $ 4,597 | $ 4,597 |
Level 2 of fair value hierarchy [member] | Carrying Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term debt | 4,553 | 4,550 |
Level 2 of fair value hierarchy [member] | Estimated Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term debt | $ 4,470 | $ 5,263 |
Financial Instruments (Allowanc
Financial Instruments (Allowance for Doubtful Accounts for Expected Credit Losses) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Balance, beginning of period | $ 78 | $ 74 |
Additions (doubtful accounts expense) | 28 | 25 |
Net usage | (39) | (21) |
Balance, end of period | $ 67 | $ 78 |
Financial Instruments (Undiscou
Financial Instruments (Undiscounted Contractual Maturities) (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Short-term borrowings | $ 200 | $ 200 | $ 200 |
Accounts payable and accrued liabilities | 959 | 988 | |
Long-term debt repayable at maturity | 4,597 | 4,597 | |
Leases | 1,438 | ||
Interest payable | 2,515 | ||
Accrued interest and dividends | 260 | $ 210 | |
Within 1 year [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Short-term borrowings | 200 | ||
Accounts payable and accrued liabilities | 959 | ||
Long-term debt repayable at maturity | 1 | ||
Leases | 152 | ||
Interest payable | 218 | ||
1-3 Years [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Long-term debt repayable at maturity | 1,046 | ||
Leases | 288 | ||
Interest payable | 365 | ||
3-5 years [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Long-term debt repayable at maturity | 300 | ||
Leases | 231 | ||
Interest payable | 344 | ||
Over 5 years [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Long-term debt repayable at maturity | 3,250 | ||
Leases | 767 | ||
Interest payable | $ 1,588 |
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, 2022 | Aug. 31, 2021 | |
Statement of cash flows [abstract] | ||
Net income from operations | $ 764 | $ 986 |
Adjustments to reconcile net income to funds flow from operations: | ||
Amortization | 1,230 | 1,221 |
Deferred income tax expense (recovery) | (54) | 16 |
Stock-based compensation | 1 | 1 |
Defined benefit pension plans | 11 | 2 |
Fair value adjustments for private investments | 0 | (27) |
Net change in contract asset balances | 40 | 47 |
Loss (gain) on disposal of fixed assets and intangibles | (5) | (3) |
Accretion on ARO | 1 | 1 |
Other | 4 | 5 |
Funds flow from operations | $ 1,992 | $ 2,249 |
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, 2022 | Aug. 31, 2021 | |
Statement of cash flows [abstract] | ||
Interest paid | $ 261 | $ 265 |
Income taxes paid (net of refunds) | 259 | 174 |
Interest received | $ 4 | $ 4 |
Consolidated Statements Of Ca_6
Consolidated Statements Of Cash Flows (Narrative) (Details) - CAD ($) $ in Millions | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Statement of cash flows [abstract] | ||
Interest expense on lease liabilities | $ 41 | $ 45 |
Capital Structure Management (D
Capital Structure Management (Details) - CAD ($) $ in Millions | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 |
Capital Structure Management [Abstract] | |||
Cash | $ (421) | $ (355) | $ (763) |
Short-term borrowings | 200 | 200 | 200 |
Long-term debt repayable at maturity | 4,597 | 4,597 | |
Lease Liabilities | 1,130 | 1,245 | $ 1,270 |
Share capital | 4,217 | 4,199 | |
Contributed surplus | 27 | 27 | |
Retained earnings | 2,000 | 1,876 | |
Total | $ 11,750 | $ 11,789 |