funds available for other business purposes including other financial
operations
 making us more vulnerable to adverse economic and industry
conditions
 limiting our flexibility in planning for, and/or reacting to, changes in
our business and/or industry
 putting us at a competitive disadvantage compared to competitors
who may have more financial resources and, or less financial
leverage, or
 restricting our ability to obtain additional financing to fund working
capital and capital expenditures and for other general corporate
purposes.
Our ability to satisfy our financial obligations depends on our future
operating performance and economic, financial, competitive and other
factors, many of which are beyond our control. Our business may not
generate sufficient cash flow and future financings may not be available
to provide sufficient net proceeds to meet these obligations or to
successfully execute our business strategy.
Income Tax and Other Taxes
We collect, pay and accrue significant amounts of income and other
taxes such as federal and provincial sales tax, employment taxes and
property taxes, for and to various taxation authorities.
We have recorded significant amounts of deferred income tax liabilities
and current income tax expense, and calculated these amounts based
on substantively enacted income tax rates in effect at the relevant time.
A legislative change in these rates could have a material impact on the
amounts recorded and payable in the future.
We have also recorded the benefit of income and other tax positions
that are more likely than not of being sustained on examination and are
measured at the amount expected to be realized when we have an
ultimate settlement with taxation authorities.
While we believe we have paid and provided for adequate amounts of
tax, our business is complex and significant judgement is required in
interpreting tax legislation and regulations. Our tax filings are subject to
audit by the relevant government revenue authorities and the results of
the government audit could materially change the amount of our actual
income tax expense, income taxes payable or receivable, other taxes
payable or receivable and deferred income tax assets or liabilities and
could, in certain circumstances, result in an assessment of interest and
penalties.
2013 ANNUAL REPORT ROGERS COMMUNICATIONS INC. 77