Financial Statements of - Shoppers Drug Mart

SHOPPERS DRUG MART CORPORATIONNotes to the Condensed Consolidated Financial Statements(unaudited)(in thousands of Canadian dollars, except per share data)14. EXPLANATION OF TRANSITION TO IFRS (continued)Reconciliation of Shareholders' Equity as at January 1, 2011NotePrevious GAAPEffect of transition to IFRSIFRSShoppersOptimum®Loyalty CardRent Expenseduring theImpairment ofSale-leasebackProgram Fixturing Period Store Assets Transactions Classification Expense Combinations Income TaxesShare capital $ 1,520,558 $ - $ - $ - $ - $ - $ - $ - $ - $ 1,520,558Contributed surplus 11,702 - - - - - - - - 11,702Accumulated other comprehensive loss a)vi) (493) - - - - - (8,150) - - (8,643)Retained earnings a) 2,692,136 (14,184) (36,951) (21,432) 14,796 (2,675) 3,983 (27) (56,628) 2,579,018Total shareholders' equity $ 4,223,903 $ (14,184) $ (36,951) $ (21,432) $ 14,796 $ (2,675) $ (4,167) $ (27) $ (56,628) $ 4,102,635FinancingLeasesEmployeeBenefits -OngoingRecogntion ofPensionBusiness27