Notes to the Consolidated Financial Statements  continued 62 First Capital Realty Annual Report 2003 The Company’s future income tax assets are summarized as follows: The Company’s activities are carried out directly and through operating subsidiaries  and partnership ventures and trusts in Canada and the United States. The income tax effect on operations depends on the tax legislation in each country and the operating results of each subsidiary and partnership venture and the parent Company. The following table summarizes the provision for income and other taxes. (thousands of dollars) 2003 2002 Losses available for carry-forward  $ 11 417 $ 6 486 Shopping centres 2 235 11 454 Other assets 1 634 1 303 Canadian and U.S. minimum tax credits 352 352 $ 15 638 $ 19 595 (thousands of dollars) 2003 2002 Provision for income taxes on income at the combined Canadian federal and provincial income tax rates $ 26 096 $ 18 597 Increase (decrease) in the provision for income taxes due to the following items: Large Corporations Tax 1 950 1 850 Change in future income tax rates (2 202) (917) Other 1 235 (734) Income and other taxes $ 27 079 $ 18 796 (thousands of dollars) 2003 2002 Shopping centres $ 8 368 $ 6 668 Tenant inducements and leasing costs 2 629 1 955 Other 367 236 11 364 8 859 Deferred  fi nancing 1 210 1 072 Amortization $ 12 574 $ 9 931 (thousands of dollars) 2003 2002 Mortgage and credit facility interest expense $ 38 722 $ 33 454 Debenture interest expense 1 033 2 734 Convertible debenture interest expense 3 569 4 438 Interest expense 43 324 40 626 Payments on convertible debentures  net of interest expensed 27 434 24 395 Less: convertible debenture interest paid in common shares (18 724) (14 205) Interest capitalized to land and shopping centres  under development 3 481 1 796 Other 132 228 Cash interest paid $ 55 647 $ 52 840 13 Interest 14 Amortization 15 Income and  Other Taxes