Consolidated Income Statements
|
For the years ended December 31, |
|||||
|
|
2011 |
|
2010 |
||
|
Revenues |
$ |
1,328,866 |
|
$ |
1,401,129 |
|
Operating costs (Note 21) |
|
649,159 |
|
|
644,021 |
|
Income from operations before depreciation and amortization, impairment of goodwill and intangible assets, acquisition-related costs, and restructuring |
|
679,707 |
|
|
757,108 |
|
Depreciation and amortization (Notes 9 and 10) |
|
160,906 |
|
|
180,265 |
|
Impairment of goodwill and intangible assets (Note 4) |
|
2,900,000 |
|
|
– |
|
Acquisition-related costs |
|
7,743 |
|
|
30,575 |
|
Restructuring and special charges (Note 12) |
|
26,142 |
|
|
31,391 |
|
(Loss) income from operations |
|
(2,415,084) |
|
|
514,877 |
|
Financial charges, net (Note 22) |
|
130,582 |
|
|
148,437 |
|
Gain on disposal of subsidiary (Note 6) |
|
(6,211) |
|
|
– |
|
(Loss) earnings before dividends on Preferred shares, series 1 and 2, income taxes and impairment and share of losses from investments in associates |
|
(2,539,455) |
|
|
366,440 |
|
Dividends on Preferred shares, series 1 and 2 |
|
19,187 |
|
|
21,171 |
|
(Loss) earnings before income taxes and impairment and share of losses from investments in associates |
|
(2,558,642) |
|
|
345,269 |
|
Provision for income taxes (Note 17) |
|
87,149 |
|
|
93,583 |
|
Impairment of investment in associate (net of income taxes of $0.2 million) (Note 8) |
|
50,271 |
|
|
– |
|
Share of losses from investments in associates |
|
12,060 |
|
|
19,900 |
|
Net (loss) earnings from continuing operations |
|
(2,708,122) |
|
|
231,786 |
|
Net loss from discontinued operations, net of income taxes (Note 7) |
|
(120,877) |
|
|
(2,380) |
|
Net (loss)earnings |
$ |
(2,828,999) |
|
$ |
229,406 |
|
Net (loss) earnings attributable to: |
|
|
|
|
|
|
Common shareholders of Yellow Media Inc.1 |
$ |
(2,832,649) |
|
$ |
226,498 |
|
Non-controlling interests3 |
|
3,650 |
|
|
(16,275) |
|
Holders of Preferred shares, series 3, 5 and 7 |
|
– |
|
|
19,183 |
|
|
$ |
(2,828,999) |
|
$ |
229,406 |
|
Basic (loss) earnings per share attributable to common shareholders |
|
|
|
|
|
|
From continuing operations |
$ |
(5.33) |
|
$ |
0.42 |
|
Total |
$ |
(5.58) |
|
$ |
0.44 |
|
Weighted average shares outstanding – basic (loss) earnings per share (Note 19)2 |
|
511,765,665 |
|
|
503,111,679 |
|
Diluted (loss) earnings per share attributable to common shareholders |
|
|
|
|
|
|
From continuing operations |
$ |
(5.33) |
|
$ |
0.38 |
|
Total |
$ |
(5.58) |
|
$ |
0.40 |
|
Weighted average shares outstanding – diluted (loss) earnings per share (Note 19)2 |
|
511,765,665 |
|
|
640,050,287 |
- 1 Included in the net earnings attributable to common shareholders of Yellow Media Inc. for the year ended December 31, 2010 are net earnings attributable to Owners of the Fund for the period from January 1 until October 31, 2010.
- 2 Comparative amounts presented are trust units.
- 3 Included in the net earnings (loss) attributable to non-controlling interests for the year ended December 31, 2011 is $4.1 million (2010 ($16.1 million)) related to discontinued operations.
The accompanying notes are an integral part of these consolidated financial statements.