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Unformatted text preview: Deferred tax assets are recognized for all deductible temporary differences, carryforward of unused tax credits
and unused tax losses to the extent it is probable future taxable profits will be available against which they can
be utilized. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to
the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the
asset to be recovered.
Deferred tax liabilities are not recognized on temporary differences that arise from goodwill which is not
deductible for tax purposes. Deferred tax assets and liabilities are not recognized in respect of temporary
differences that arise on initial recognition of assets and liabilities acquired other than in a business
Deferred tax assets and liabilities are offset where they relate to income taxes levied by the same taxation
authority and the Corporation has the legal right and intent to offset.
xviii. Earnings (loss) per share
Earnings (loss) per share calculations are based on the weighted average number of common shares and
common share equivalents issued and outstanding during the period. Basic earnings (loss) per share amounts
are calculated by dividing net earnings (loss) attributable to common shareholders for the period by the
weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share
amounts are calculated by dividing net earnings (loss) attributable to common shareholders for the period by
the diluted weighted average shares outstanding during the period.
Diluted earnings per share is calculated using the treasury method, except the if-converted method is used in
assessing the dilution impact of convertible senior notes and restricted share units. The treasury method, which
assumes that outstanding stock options, warrants and restricted share units with an average exercise price
below the market price of the underlying shares, are exercised and the assumed proceeds are used to
repurchase common shares of the Company at the average market price of the common shares for the period.
The if-converted method assumes that al...
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This document was uploaded on 03/30/2014.
- Spring '14