Source document: rogers-communications-inc_2019

Question: What were the number of Class A shares outstanding as at February 29, 2020?
Facts: 111,154,811
Answer: 111,154,811

Question: What were the number of Class B shares outstanding as at February 29, 2020?
Facts: 393,770,507
Answer: 393,770,507

Question: How are the terms of purchase structured in case both the classes of shares are to be purchased?
Facts: If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.
Answer: If an offer is made to purchase both classes of shares, the offer for the Class A Shares may be made on different terms than the offer to the holders of Class B Non-Voting Shares.

Question: What is the increase / (decrease) in the Class A Voting shares from 2018 to 2019?
Facts: 111,154,811; 111,155,637
Derivation: 111,154,811 - 111,155,637
Answer: -826

Question: What is the average Class B Non-Voting shares?
Facts: 393,770,507; 403,657,038
Derivation: (393,770,507 + 403,657,038) / 2
Answer: 398713772.5

Question: What was the percentage increase / (decrease) in Total common shares from 2018 to 2019?
Facts: 504,925,318; 514,812,675
Derivation: 504,925,318 / 514,812,675 - 1
Answer: -1.92 percent

Question: What percentage of US dollar-denominated senior notes and debentures are hedged for accounting and economic purposes?
Facts: 100%
Answer: 100%

Question: What components are included under borrowings?
Facts: long-term debt, including the impact of debt derivatives, and short-term borrowings associated with our US CP and accounts receivable securitization programs.
Answer: long-term debt, including the impact of debt derivatives, and short-term borrowings associated with our US CP and accounts receivable securitization programs.

Question: What was the hedged exchange rate in 2019?
Facts: 1.1932
Answer: 1.1932

Question: What was the increase / (decrease) in US dollar-denominated long-term debt from 2018 to 2019?
Facts: 6,050; 8,300
Derivation: 8,300 - 6,050
Answer: 2250 million

Question: What was the average Hedged with debt derivatives?
Facts: 6,050; 8,300
Derivation: (8,300 + 6,050) / 2
Answer: 7175 million

Question: What was the increase / (decrease) in Total borrowings from 2018 to 2019?
Facts: 15,320; 17,496
Derivation: 17,496 - 15,320
Answer: 2176 million

Question: Which accounting for outstanding share-based payments method was determined to be dilutive?
Facts: accounting for outstanding share-based payments using the equity-settled method for stock-based compensation was determined to be more dilutive than using the cash-settled method.
Answer: accounting for outstanding share-based payments using the equity-settled method for stock-based compensation was determined to be more dilutive than using the cash-settled method.

Question: How much did the net income reduced for the year ended December 31, 2019?
Facts: net income for the year ended December 31, 2019 was reduced by $6 million (2018 – $2 million) in the diluted earnings per share calculation.
Answer: net income for the year ended December 31, 2019 was reduced by $6 million (2018 – $2 million) in the diluted earnings per share calculation.

Question: For the year ended December 31, 2019, how much was the options out of the money for purposes of the calculation of earnings per share?
Facts: For the year ended December 31, 2019, there were 1,077,875 options out of the money (2018 – 37,715) for purposes of the calculation of earnings per share.
Answer: For the year ended December 31, 2019, there were 1,077,875 options out of the money (2018 – 37,715) for purposes of the calculation of earnings per share.

Question: What is the increase/ (decrease) in Numerator (basic) – Net income from 2018 to 2019?
Facts: 2,043; 2,059
Derivation: 2,043-2,059 
Answer: -16 million

Question: What is the increase/ (decrease) in Basic Earnings per share from 2018 to 2019?
Facts: 3.99; 4.00
Derivation: 3.99-4.00
Answer: -0.01

Question: What is the increase/ (decrease) in Diluted Earnings per share from 2018 to 2019?
Facts: 3.97; 3.99
Derivation: 3.97-3.99
Answer: -0.02

Question: What are one of the components of Media Revenue?
Facts: advertising sales across its television, radio, and digital media properties
Answer: advertising sales across its television, radio, and digital media properties

Question: What were the revenues in 2019 and 2018?
Facts: 2,072; 2,168
Answer: 2,072; 2,168 million

Question: What was the percentage decrease in Adjusted EBITDA from 2018 to 2019?
Facts: 29%
Answer: 29%

Question: What was the increase / (decrease) in revenue from 2018 to 2019?
Facts: 2,072; 2,168
Derivation: 2,072 - 2,168
Answer: -96 million

Question: What was the average Operating Expenses?
Facts: 1,932; 1,972
Derivation: (1,932 + 1,972) / 2
Answer: 1952 million

Question: What is the increase / (decrease) in Adjusted EBITDA from 2018 to 2019?
Facts: 140; 196
Derivation: 140 - 196
Answer: -56 million

Question: What was the effective tax rate in 2019?
Facts: 25.8%
Answer: 25.8%

Question: What was the effective tax rate in 2018?
Facts: 26.9%
Answer: 26.9%

Question: What was the reason was decrease in effective tax rate from 2019 to 2018?
Facts: result of a reduction to the Alberta corporate income tax rate over a four-year period
Answer: result of a reduction to the Alberta corporate income tax rate over a four-year period

Question: What was the increase / (decrease) in Income before income tax expense from 2019 to 2018?
Facts: 2,755; 2,817
Derivation: 2,755 - 2,817
Answer: -62 million

Question: What was the average Computed income tax expense?
Facts: 736; 752
Derivation: (736 + 752) / 2
Answer: 744 million

Question: What was the percentage increase / (decrease) in Total income tax expense from 2018 to 2019?
Facts: 712; 758
Derivation: 712 / 758 - 1
Answer: -6.07 percent

Question: What were the reasons for increase in finance cost in 2019?
Facts: a $21 million loss on discontinuation of hedge accounting on certain bond forward derivatives recognized in 2018.; higher outstanding debt as a result of our debt issuances in April 2019, in large part to fund our acquisition of 600 MHz spectrum licences (see “Managing Our Liquidity and Financial Resources”); partially offset by; interest on lease liabilities as a result of our adoption of IFRS 16
Answer: interest on lease liabilities as a result of our adoption of IFRS 16; higher outstanding debt as a result of our debt issuances in April 2019, in large part to fund our acquisition of 600 MHz spectrum licences (see “Managing Our Liquidity and Financial Resources”); partially offset by; a $21 million loss on discontinuation of hedge accounting on certain bond forward derivatives recognized in 2018.

Question: What caused the interest on borrowings in 2019?
Facts: net issuance of senior notes throughout the year
Answer: net issuance of senior notes throughout the year

Question: What was the loss on repayment of long-term debt in 2019?
Facts: $19 million
Answer: $19 million

Question: What was the increase / (decrease) in Interest on borrowings from 2018 to 2019?
Facts: 709; 746
Derivation: 746 - 709
Answer: 37 million

Question: What was the average Interest on post-employment benefits liability?
Facts: 11; 14
Derivation: (11 + 14) / 2
Answer: 12.5 million

Question: What was the increase / (decrease) in the Finance costs before interest on lease liabilities from 2018 to 2019?
Facts: 779; 793
Derivation: 779 - 793
Answer: -14 million

Question: What was the effective tax rate in 2019?
Facts: 25.8%
Answer: 25.8%

Question: What was the effective tax rate in 2018?
Facts: 26.9%
Answer: 26.9%

Question: What caused the decrease in effective tax rate from 2018 to 2019?
Facts: reduction to the Alberta corporate income tax rate over a four-year period
Answer: reduction to the Alberta corporate income tax rate over a four-year period

Question: What was the increase / (decrease) in Adjusted EBITDA from 2018 to 2019?
Facts: 5,983; 6,212
Derivation: 6,212 - 5,983
Answer: 229 million

Question: What was the average Depreciation and amortization?
Facts: 2,211; 2,488
Derivation: (2,488 + 2,211) / 2
Answer: 2349.5 million

Question: What was the increase / (decrease) in Finance cost from 2018 to 2019?
Facts: 793; 840
Derivation: 840 - 793
Answer: 47 million

Question: What caused the increase in the total depreciation and amortization?
Facts: result of depreciation of right-of-use assets due to our adoption of IFRS 16 on January 1, 2019 and higher capital expenditures over the past several years.
Answer: result of depreciation of right-of-use assets due to our adoption of IFRS 16 on January 1, 2019 and higher capital expenditures over the past several years.

Question: What was the depreciation in 2019?
Facts: 2,297
Answer: 2,297 million

Question: What was the Depreciation of right-of-use assets in 2019?
Facts: 175
Answer: 175 million

Question: What was the increase / (decrease) in the Depreciation from 2018 to 2019?
Facts: 2,174; 2,297
Derivation: 2,297 - 2,174
Answer: 123 million

Question: What was the average amortization?
Facts: 16; 37
Derivation: (16 + 37) / 2
Answer: 26.5 million

Question: What was the increase / (decrease) in the Total depreciation and amortization from 2018 to 2019?
Facts: 2,211; 2,488
Derivation: 2,488 - 2,211
Answer: 277 million

Question: How many debt derivatives related to senior notes during 2019 were settled?
Facts: We did not settle any debt derivatives related to senior notes during 2019.
Answer: We did not settle any debt derivatives related to senior notes during 2019.

Question: When were the debt derivatives related to the repayment due?
Facts: August 2018
Answer: August 2018

Question: What was the hedge interest rate in April 30, 2019?
Facts: 4.173%
Answer: 4.173%

Question: What was the increase / (decrease) in the coupon rate from November 12, 2019 to April 30, 2019?
Facts: 3.996; 4.173
Derivation: 3.996% - 4.173%
Answer: -0.18 percent

Question: What was the increase / (decrease) in the Equivalent (Cdn$) between 2018 and November 2019?
Facts: 1,308; 938
Derivation: 1,308 - 938
Answer: 370 million

Question: What was the average Principal/ Notional amount in 2019?
Facts: 1,000; 1,250
Derivation: (1,250 + 1,000) / 2
Answer: 1125 million

Question: What is included in the Interest on borrowings?
Facts: Interest on borrowings includes interest on short-term borrowings and on long-term debt.
Answer: Interest on borrowings includes interest on short-term borrowings and on long-term debt.

Question: What is attributed as change in fair value of derivatives?
Facts: primarily attributed to the debt derivatives, which were not designated as hedges for accounting purposes, we used to substantially offset the foreign exchange risk related to these US dollar-denominated borrowings.
Answer: primarily attributed to the debt derivatives, which were not designated as hedges for accounting purposes, we used to substantially offset the foreign exchange risk related to these US dollar-denominated borrowings.

Question: How much was the net foreign exchange gains in 2019?
Facts: $79 million in net foreign exchange gains in 2019
Answer: $79 million in net foreign exchange gains in 2019

Question: What is the increase/ (decrease) in Interest on borrowings from 2018 to 2019?
Facts: 709; 746
Derivation: 746-709
Answer: 37 million

Question: What is the increase/ (decrease) in Interest on post-employment benefits liability from 2018 to 2019?
Facts: 11; 14
Derivation: 11-14
Answer: -3 million

Question: What is the increase/ (decrease) in Loss on repayment of long-term debt from 2018 to 2019?
Facts: 19; 28
Derivation: 19-28
Answer: -9 million

Question: What is used for to conduct valuation-related analysis and make capital structure-related decisions?
Facts: We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and make capital structure-related decisions.
Answer: We use adjusted net debt and debt leverage ratio to conduct valuation-related analysis and make capital structure-related decisions.

Question: What is included in the adjusted net debt?
Facts: djusted net debt includes long-term debt, net debt derivative assets or liabilities, short-term borrowings, and cash and cash equivalents.
Answer: djusted net debt includes long-term debt, net debt derivative assets or liabilities, short-term borrowings, and cash and cash equivalents.

Question: Where is debt derivatives valued without adjustment for credit risk used for evaluation?
Facts: For purposes of calculating adjusted net debt and debt leverage ratio, we believe including debt derivatives valued without adjustment for credit risk is commonly used to evaluate debt leverage and for market valuation and transactional purposes.
Answer: For purposes of calculating adjusted net debt and debt leverage ratio, we believe including debt derivatives valued without adjustment for credit risk is commonly used to evaluate debt leverage and for market valuation and transactional purposes.

Question: What is the increase/ (decrease) in Long-term debt from December 31, 2018 to December 31, 2019?
Facts: 14,404; 16,130
Derivation: 16,130-14,404
Answer: 1726 million

Question: What is the increase/ (decrease) in Net debt derivative assets valued without any adjustment for credit risk from December 31, 2018 to December 31, 2019?
Facts: 1,414; 1,448
Derivation: 1,414-1,448
Answer: -34 million

Question: What is the increase/ (decrease) in Cash and cash equivalents from December 31, 2018 to December 31, 2019?
Facts: 405; 494
Derivation: 494-405
Answer: 89 million

Question: What does Accounts receivable represent?
Facts: Accounts receivable represent amounts owing to us that are currently due and collectible. We initially recognize accounts receivable on the date they originate.
Answer: Accounts receivable represent amounts owing to us that are currently due and collectible. We initially recognize accounts receivable on the date they originate.

Question: How is accounts receivable measured?
Facts: We measure accounts receivable initially at fair value, and subsequently at amortized cost, with changes recognized in net income.
Answer: We measure accounts receivable initially at fair value, and subsequently at amortized cost, with changes recognized in net income.

Question: How is impairment loss for accounts receivable measured?
Facts: We measure an impairment loss for accounts receivable as the excess of the carrying amount over the present value of future cash flows we expect to derive from it, if any.
Answer: We measure an impairment loss for accounts receivable as the excess of the carrying amount over the present value of future cash flows we expect to derive from it, if any.

Question: What is the increase/ (decrease) in Customer accounts receivable from 2018 to 2019?
Facts: 1,529; 1,579
Derivation: 1,579-1,529
Answer: 50 million

Question: What is the increase/ (decrease) in Other accounts receivable from 2018 to 2019?
Facts: 762; 785
Derivation: 785-762
Answer: 23 million

Question: What is the increase/ (decrease) in Allowance for doubtful accounts from 2018 to 2019?
Facts: 55; 60
Derivation: 60-55
Answer: 5 million