(In thousands of dollars except as noted and per share amounts) Notes to CoNsolidated FiNaNCial statemeNts  When share capital recognized as equity is repurchased for cancellation, the amount of the consideration  paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from  equity.The excess of the purchase price over the carrying amount of the shares is charged to deficit.  Revenue is measured at the fair value of the consideration received or receivable and recognized at the time sugar  products are shipped to customers, at which time significant risks and rewards of ownership are transferred to the  customers. Revenue is recorded net of all returns and allowances, and excludes sales taxes.  Sales incentives, including volume rebates provided to customers are estimated based on contractual agreements  and historical trends and are recognized at the time of sale as a reduction in revenue. Such rebates are primarily  based on a combination of volume purchased and achievement of specified volume levels.  Payments made under operating leases are recognized in profit or loss on a straight-line basis over the term of  the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term  of the lease. Minimum lease payments made under finance leases are apportioned between the finance expense and the  reduction of the outstanding liabilities.The finance expense is allocated to each period during the lease term so as  to produce a constant periodic rate of interest on the remaining balance of the liability.  Finance income comprises interest income on funds invested and finance costs comprise interest expense on  borrowings. Changes in the fair value of interest rate swaps are recorded either to finance income or finance costs  based on its outcome. Interest expense is recorded using the effective interest method.  Income tax expense comprises current and deferred taxes. Current tax and deferred taxes are recognized in  profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity  or in other comprehensive income.  Current tax is the expected tax payable or recoverable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of  previous years. 53 Annual Report 2013 3.  SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): (k) Financial instruments (continued): (vi) Share capital (continued): (l)  Revenue recognition: (m) Lease payments: (n) Finance income and finance costs: (o) Income taxes: Repurchase of share capital