Financial Statements of - Shoppers Drug Mart

SHOPPERS DRUG MART CORPORATION
Notes to the Condensed Consolidated Financial Statements
(unaudited)
(in thousands of Canadian dollars, except per share data)
12. EXPLANATION OF TRANSITION TO IFRS (continued)
Reconciliation of consolidated balance sheet as at June 19, 2010
Presentation Adjustment
from Previous GAAP to
Note
Previous GAAP
IFRS
Effect of Transition to IFRS
IFRS
Employee Benefits - Ongoing
Shoppers Optimum® Loyalty Rent Expense during the
Recognition of Pension
Card Program
Fixturing Period Impairment of Store Assets Sale-leaseback Transactions Financing Leases Classification
Expense Business Combinations Income Taxes
Current assets
Cash $ 62,670 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 62,670
Accounts receivable 486,517 - - - - - - - (155) - 486,362
a)vii)
Inventory 1,830,207 - - - - - - - - - 1,830,207
Income taxes recoverable
a)i); a)ii);
25,435 - - - - - - - - - 25,435
a)iii); a)iv);
a)v); a)vi);
a)ix)
Future income taxes a)ix) 81,966 - - - - - - - - (81,966) -
Prepaid expenses and deposits 57,332 - - - - - - - - - 57,332
Total current assets 2,544,127 - - - - - - - (155) (81,966) 2,462,006
Non-current assets
Property and equipment
a)ii); a)iii);
a)iv); a)v);
a)vii)
1,606,197 - - (50,321) (22,435) - 56,622 - - - 1,590,063
Goodwill a)vii) 2,493,357 - - - - - - - (320) - 2,493,037
Intangible assets 260,852 - - - - - - - 525 - 261,377
Other assets 19,635 - - - - - - (2,182) - - 17,453
Deferred tax assets a)ix) - - - - - - - - - 28,337 28,337
Total non-current assets 4,380,041 - - (50,321) (22,435) - 56,622 (2,182) 205 28,337 4,390,267
Total assets 6,924,168 - - (50,321) (22,435) - 56,622 (2,182) 50 (53,629) 6,852,273
$ $ $ $ $ $ $ $ $ $ $
Liabilities
Bank indebtedness $ 256,497 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 256,497
Commercial paper 183,590 - - - - - - - - - 183,590
Accounts payable and 964,803 - 15,625 - - - 1,473 - - - 981,901
accrued liabilities a)i); a)iv)
Dividends payable 48,922 - - - - - - - - - 48,922
Associate interest b) - 120,041 - - - - - - - - 120,041
Total current liabilities 1,453,812 - 15,625 - - - 1,473 - - - 1,590,951
Long-term debt 945,651 - - - - - - - - - 945,651
Other long-term liabilities
a)ii); a)iii);
377,806 - - (1,382) - (19,561) 58,693 6,067 50 - 421,673
a)iv); a)vi)
Deferred tax liabilities a); a)ix) 39,237 - (4,395) (12,708) (5,716) 3,567 (912) (1,992) - 5,600 22,681
Total non-current liabilities 1,362,694 (4,395) (14,090) (5,716) (15,994) 57,781 4,075 50 5,600 1,390,005
-
Total liabilities 2,816,506 - 11,230 (14,090) (5,716) (15,994) 59,254 4,075 50 5,600 2,980,956
Associate interest b) 120,041 (120,041) - - - - - - - - -
Shareholders' Equity
Share capital 1,519,944 - - - - - - - - - 1,519,944
Contributed surplus 11,036 - - - - - - - - - 11,036
Accumulated other comprehensive loss (2,815) - - - - - - - - - (2,815)
Retained earnings
2,459,456 - (11,230) (36,231) (16,719) 15,994 (2,632) (6,257) - (59,229) 2,343,152
a)i); a)ii);
a)iii); a)iv);
a)v); a)vi);
a)ix)
Total equity 3,987,621 - (11,230) (36,231) (16,719) 15,994 (2,632) (6,257) - (59,229) 3,871,317
Total liabilities and equity $ 6,924,168 $ - $ - $ (50,321) $ (22,435) $ - $ 56,622 $ (2,182) $ 50 $ (53,629) $ 6,852,273
46