Canwest says its lost 33 million in an accretion rate of liability in quarter future purchase of Goldman Sachs Atlants
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Accretion of long-term liabilities. For the three months ended February 28, 2010, we have
recorded an accretion expense of $33 million compared to $10 million in the same period in iscal b2009 related to the discounting of certain long-term liabilities which are accreted to their estimated value over the term of these liabilities. The charge is primarily related to the Goldman Sachs puttable interest in CW Media which is classified as a financial liability with an estimated accretion rate of 19%. We estimate the fair value of the puttable interest liability based on management’s forecasts.
Accretion of long-term liabilities. For the six months ended February 28, 2010, we hav recorded an accretion expense of $66 million compared to $38 million in the same period in fiscal 2009 related to the discounting of certain long-term liabilities which are accreted to their estimated value over the term of these liabilities. The charge is primarily related to the Goldman Sachs puttable interest in CW Media which is classified as a financial liability with an estimated accretion rate of 19%. We estimate the fair value of the puttable interest liability based on management’s forecasts.
