7Baggers

BCE Inc
(NYSE:BCE) 

BCE stock logo

BCE Inc., a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wirele...

Founded: 1983
Full Time Employees: 52,100
Sector: Communication Services
Industry: Telecom Services
TelecommunicationCanadian
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2023-11-02 2023-06-30 2023-02-02 2022-11-03 2022-06-30 2022-05-05 2022-03-04 2021-11-04 2021-06-30 2021-04-29 2021-03-11 2021-02-04 2020-11-05 2020-06-30 2020-05-07 2020-03-11 2020-02-06 2019-10-31 2019-06-30 2004-08-04 2003-07-30 
                               
      cash flow
    		2,025,000,000 2,025,000,000 2,025,000,000 2,024,000,000 2,024,000,000 2,024,000,000                      
      economic - put options
    		2,025,000,000 2,025,000,000 2,025,000,000 2,024,000,000 2,024,000,000 2,024,000,000                      
      economic - options
    		2,025,000,000 2,025,000,000 2,025,000,000 2,024,000,000 2,025,000,000 2,024,000,000                      
      economic - swaps
    		2,026,000,000 2,025,000,000 2,025,000,000                         
      economic - call options
    		2,026,000,000 2,025,000,000 2,025,000,000 2,024,000,000 2,024,000,000 2,024,000,000                      
      q3
    		                           
      operating revenues
    		       6,066,000,000     23,449,000,000  5,698,000,000  22,883,000,000     23,964,000,000     4,946,000,000 
      service
    		5,286,000,000 5,308,000,000 5,192,000,000 5,281,000,000 5,303,000,000 5,222,000,000 5,281,000,000  5,353,000,000 5,193,000,000 5,233,000,000 5,177,000,000  5,099,000,000  4,968   4,924 4,800 5,058,000,000  5,276,000,000 5,185,000,000 5,231,000,000   
      product
    		685,000,000 697,000,000 819,000,000 799,000,000 763,000,000 832,000,000 799,000,000  1,086,000,000 831,000,000 628,000,000 673,000,000  737,000,000  738   863 554 622,000,000  1,040,000,000 799,000,000 699,000,000   
      total operating revenues
    		5,971,000,000 6,005,000,000 6,011,000,000 6,080,000,000 6,066,000,000 6,054,000,000 6,080,000,000  6,439,000,000 6,024,000,000 5,861,000,000 5,850,000,000  5,836,000,000  5,706   5,787 5,354 5,680,000,000  6,316,000,000 5,984,000,000 5,930,000,000   
      adjusted ebitda
    		2,722,000,000 2,697,000,000 2,565,000,000 2,667,000,000 2,645,000,000 2,538,000,000 2,667,000,000  2,437,000,000 2,588,000,000 2,590,000,000 2,584,000,000  2,558,000,000  2,429  2,404,000,000 2,454 2,331 2,442,000,000  2,508,000,000 2,594,000,000 2,595,000,000   
      severance, acquisition and other costs
    		-49,000,000 -22,000,000 -229,000,000 -10,000,000 -100,000,000 -49,000,000 -10,000,000 -100,000,000 19,000,000 -22,000,000 -40,000,000 -13,000,000 -209,000,000 -50,000,000 -7,000,000 -89 -116,000,000 38,000,000 -26 -22 -16,000,000 -114,000,000 -28,000,000 -23,000,000 -39,000,000   
      depreciation
    		-934,000,000 -945,000,000 -946,000,000 -937,000,000 -936,000,000 -918,000,000 -937,000,000 -936,000,000 922,000,000 -914,000,000 -933,000,000 -891,000,000 -3,627,000,000 -902,000,000 -905,000,000 -895 -3,475,000,000 872,000,000 -876 -869 -868,000,000 -3,496,000,000 -865,000,000 -861,000,000 -888,000,000   
      amortization
    		-325,000,000 -325,000,000 -316,000,000 -295,000,000 -296,000,000 -283,000,000 -295,000,000 -296,000,000 270,000,000 -267,000,000 -266,000,000 -260,000,000 -982,000,000 -245,000,000 -248,000,000 -238 -929,000,000 233,000,000 -232 -234 -234,000,000 -902,000,000 -228,000,000 -230,000,000 -223,000,000   
      impairment of assets
    		-2,113,000,000 -60,000,000 -13,000,000      150,000,000    -197,000,000  -164,000,000 -3 -472,000,000 9,000,000 -4 -449        
      gains on investments
    		66,000,000                           
      net earnings
    		-1,191,000,000 604,000,000 457,000,000 707,000,000 397,000,000 788,000,000 707,000,000 397,000,000 567,000,000 771,000,000 654,000,000 934,000,000 2,892,000,000 813,000,000 734,000,000 687 2,699,000,000 932,000,000 740 294 733,000,000 3,253,000,000 723,000,000 922,000,000 817,000,000  478,000,000 
      yoy
    		-400.00% -23.35% -35.36% 78.09% -29.98% 2.20% 8.10% -57.49% -80.39% -5.17% -10.90% 135953320.67% 7.15% -12.77% 99189089.19% 133.67% 268.21% -71.35% -100.00% -100.00% -10.28%  51.26%     
      qoq
    		-297.19% 32.17% -35.36% 78.09% -49.62% 11.46% 78.09% -29.98% -26.46% 17.89% -29.98% -67.70% 255.72% 10.76% 106841239.16% -100.00% 189.59% 125945845.95% 151.70% -100.00% -77.47% 349.93% -21.58% 12.85%    
      net earnings attributable to common shareholders
    		-1,237,000,000 537,000,000 402,000,000 640,000,000 329,000,000 725,000,000 640,000,000  528,000,000 715,000,000 596,000,000 877,000,000  757,000,000    889,000,000   680,000,000  672,000,000 867,000,000 761,000,000   
      eps - basic and diluted
    		-1,360,000 590,000 440,000 700,000 370,000 790,000                      
      weighted-average number of common shares outstanding – basic
    		912,300,000 912,300,000 912,300,000 912,300,000 912,200,000 912,100,000 912,300,000   911,900,000 911,900,000 910,100,000 906,300,000 906,900,000   904,300,000    904,100,000   901,400,000 899,500,000   
      economic
    		 2,025,000,000 2,025,000,000 2,024,000,000 2,024,000,000 2,024,000,000                      
      q2
    		                           
      q1
    		                           
      eps – basic and diluted
    		      700,000   780,000 660,000 960,000  830,000              
      operating costs
    		       -3,421,000,000 -4,002,000,000    -13,556,000,000  -3,222,000,000 -3,277 -13,276,000,000  -3,333 -3,023  -13,858,000,000 -3,748,000,000     
      finance costs
    		                           
      interest expense
    		       -359,000,000 319,000,000    -1,082,000,000  -268,000,000 -267 -1,110,000,000 274,000,000 -279 -280  -1,132,000,000 -286,000,000    291,000,000 
      net return on post-employment benefit plans
    		       27,000,000                    
      other expense
    		       -311,000,000 -19,000,000             -13,000,000 -119,000,000     
      income taxes
    		       -273,000,000 222,000,000    -1,044,000,000  -236,000,000 -253 -792,000,000 191,000,000 -262 -96  -1,133,000,000 -243,000,000    277,000,000 
      net earnings attributable to:
    		                           
      common shareholders
    		       329,000,000 528,000,000    2,709,000,000  685,000,000 642 2,272,000,000  686 233  3,040,000,000 672,000,000     
      preferred shareholders
    		       46,000,000 44,000,000    131,000,000  32,000,000 32 136,000,000  32 34  151,000,000 38,000,000     
      non-controlling interest
    		       22,000,000 -5,000,000    52,000,000  17,000,000 13 65,000,000  16 23  62,000,000 13,000,000    70,000,000 
      net earnings per common share - basic and diluted
    		       370,000 580,000      760,000        740,000     
      weighted-average number of common shares outstanding - basic
    		       912,200,000 912,000,000      905,000,000        903,800,000     
      net (return) interest on post-employment benefit plans
    		        -13,000,000                   
      adjusted ebitda margin
    		        37,800,000       42.6  39,400,000 42.4 43.5   39,700,000     
      net return (interest) on post-employment benefit plans
    		        13,000,000                   
      other income
    		        19,000,000    160,000,000  91,000,000 8 -194,000,000 38,000,000 -29 -80        
      dividends per common share
    		        920,000              792,500    300,000 
      weighted-average number of common shares outstanding - diluted
    		        912,200,000              904,800,000     
      number of common shares outstanding
    		        912,000,000              903,900,000     
      adjusted net earnings and adjusted eps
    		                           
      reconciling items:
    		                           
      net mark-to-market losses on derivatives used to economically hedge equity settled share-based compensation plans
    		        -27,000,000              45,000,000     
      net equity losses on investment in associates and joint ventures
    		                           
      net losses on investments
    		        29,000,000              -13,000,000     
      early debt redemption costs
    		                 9,000,000          
      income taxes for the above reconciling items
    		        -37,000,000                   
      non-controlling interest (nci) for the above reconciling items
    		        -8,000,000                   
      adjusted net earnings
    		        654,000,000       704  731,000,000 712 573   794,000,000     
      adjusted eps
    		        710,000       0.78   0.79 0.63   0.88     
      net earnings from continuing operations
    		         771,000,000 654,000,000 934,000,000 2,892,000,000 813,000,000 734,000,000 687 2,473,000,000  734 290        
      net earnings from discontinued operations
    		                226,000,000 -211,000,000 6 4        
      net earnings from continuing operations attributable to common shareholders
    		         715,000,000 596,000,000 877,000,000  757,000,000              
      continuing operations
    		         780,000 660,000 960,000 2,990,000 830,000 760,000 0.71 2,510,000  0.76 0.26       500,000 
      discontinued operations
    		                250,000  0.01        1,000,000 
      interest on post-employment benefit obligations
    		            -20,000,000  -5,000,000 -5 -46,000,000  -12 -11  -63,000,000 -16,000,000     
      net earnings from continuing operations attributable to:
    		                           
      net earnings per common share – basic and diluted
    		            2,990,000    2,760,000           
      eps
    		                           
      net earnings per common share
    		               0.71   0.77 0.26        
      n.m.: not meaningful
    		                           
      net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share- based compensation plans
    		                           
      net (gains) losses on investments
    		                 -10,000          
      interest on post-employment benefits obligations
    		                 11,000,000          
      bce operating revenues
    		                 6,102,000,000          
      net earnings per common share basic and diluted
    		                    750,000   960,000    
      net earnings per common share
    		               0.71   0.77 0.26        
      basic and diluted
    		                     3,370,000   850,000   
      average number of common shares outstanding – basic
    		                     900,800,000      
      post-employment benefit plans service cost
    		                      -60,000,000     
      adjusted net earnings and eps
    		                           
      impairment charges
    		                      70,000,000     
      impact on net earnings per share
    		                      0.14     
      operating expenses
    		                          2,999,000,000 
      amortization expense
    		                          797,000,000 
      net benefit plans expense
    		                          43,000,000 
      restructuring and other charges
    		                           
      total operating expenses
    		                          3,839,000,000 
      operating income
    		                          1,107,000,000 
      yoy
    		                           
      qoq
    		                           
      earnings from continuing operations before income taxes and non-controlling interest
    		                          824,000,000 
      earnings from continuing operations
    		                          477,000,000 
      dividends on preferred shares
    		                           
      net earnings applicable to common shares
    		                          461,000,000 
      net earnings per common share - basic
    		                           
      net earnings per common share - diluted
    		                           
      average number of common shares outstanding
    		                          919,300,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-06-30 2024-03-31 2024-02-08 2023-06-30 2023-02-02 2022-11-03 2022-06-30 2022-05-05 2022-02-03 2021-11-04 2021-06-30 2021-04-29 2021-03-31 2021-03-11 2021-02-04 2020-11-05 2020-09-30 2020-06-30 2020-05-07 2020-03-31 2020-03-11 2020-02-06 2019-10-31 2019-06-30 2006-11-02 2006-09-30 2006-06-30 2006-05-03 2006-03-31 2004-06-30 2003-06-30 
                                         
        assets
      		                                   
        current assets
      		                                   
        cash
      		460,000,000 507,000,000 1,049,000,000 1,860,000,000 1,398,000,000 789,000,000 547,000,000 450,000,000 99,000,000 583,000,000 596,000,000 104,000,000 207,000,000 2,086,000,000 1,752,000,000 1,907,000,000 1,907,000,000 224,000,000 224,000,000 1,482,000,000 1,482,000,000 1,297,000,000 943,000,000 943,000,000 141,000,000 141,000,000 919,000,000 719,000,000        
        cash equivalents
      		5,000,000 3,000,000 3,000,000  250,000,000 171,000,000 225,000,000 450,000,000 50,000,000 150,000,000    81,000,000  700,000,000 700,000,000   197,000,000 197,000,000 250,000,000 1,736,000,000 1,736,000,000 4,000,000 4,000,000 47,000,000 375,000,000        
        short-term investments
      		   750,000,000 750,000,000 700,000,000 1,000,000,000                             
        trade and other receivables
      		4,119,000,000 4,011,000,000 4,042,000,000 4,024,000,000 3,909,000,000 3,929,000,000 4,031,000,000 3,771,000,000 4,138,000,000 3,819,000,000 3,584,000,000 3,549,000,000 3,949,000,000 3,498,000,000 3,244,000,000 3,247,000,000 3,247,000,000 3,528,000,000 3,528,000,000 2,945,000,000 2,945,000,000 2,812,000,000 2,990,000,000 2,990,000,000 3,038,000,000 3,038,000,000 2,866,000,000 2,978,000,000        
        inventory
      		378,000,000 453,000,000 422,000,000 382,000,000 410,000,000 458,000,000 465,000,000 656,000,000 656,000,000 627,000,000 565,000,000 567,000,000 482,000,000 418,000,000 418,000,000 459,000,000 459,000,000 439,000,000 439,000,000 425,000,000 425,000,000 445,000,000 487,000,000 487,000,000 427,000,000 427,000,000 483,000,000 487,000,000        
        contract assets
      		503,000,000 485,000,000 495,000,000 412,000,000 418,000,000 435,000,000 443,000,000 403,000,000 436,000,000 383,000,000 373,000,000 386,000,000 414,000,000 410,000,000 467,000,000 563,000,000 563,000,000 687,000,000 687,000,000 799,000,000 799,000,000 921,000,000 1,037,000,000 1,037,000,000 1,111,000,000 1,111,000,000 1,049,000,000 1,005,000,000        
        contract costs
      		780,000,000 713,000,000 753,000,000 726,000,000 683,000,000 704,000,000 633,000,000 559,000,000 540,000,000 613,000,000 594,000,000 564,000,000 507,000,000 464,000,000 441,000,000 424,000,000 424,000,000 402,000,000 402,000,000 401,000,000 401,000,000 399,000,000 416,000,000 416,000,000 415,000,000 415,000,000 395,000,000 387,000,000        
        prepaid expenses
      		357,000,000 399,000,000 344,000,000 328,000,000 405,000,000 385,000,000 230,000,000 395,000,000 244,000,000 295,000,000 364,000,000 375,000,000 254,000,000 292,000,000 346,000,000 345,000,000 345,000,000 209,000,000 209,000,000 264,000,000 264,000,000 301,000,000 280,000,000 280,000,000 194,000,000 194,000,000 270,000,000 349,000,000        
        other current assets
      		359,000,000 409,000,000 593,000,000 244,000,000 274,000,000 274,000,000 264,000,000 282,000,000 324,000,000 367,000,000 226,000,000 271,000,000 335,000,000 292,000,000 278,000,000 244,000,000 244,000,000 199,000,000 199,000,000 191,000,000 191,000,000 212,000,000 419,000,000 419,000,000 190,000,000 190,000,000 226,000,000 189,000,000 832,000,000 832,000,000 1,195,000,000 1,192,000,000 1,192,000,000  1,048,000,000 
        assets held for sale
      		85,000,000 87,000,000 79,000,000 88,000,000 85,000,000 55,000,000 60,000,000      50,000,000       829,000,000 829,000,000 825,000,000              
        total current assets
      		7,046,000,000 7,067,000,000 7,780,000,000 8,814,000,000 8,582,000,000 7,900,000,000 7,898,000,000 6,966,000,000 6,487,000,000 6,837,000,000 6,302,000,000 5,816,000,000 6,198,000,000 7,541,000,000 6,946,000,000 7,889,000,000 7,889,000,000 5,688,000,000 5,688,000,000 7,533,000,000 7,533,000,000 7,462,000,000 8,308,000,000 8,308,000,000 5,520,000,000 5,520,000,000 6,255,000,000 6,489,000,000 4,963,000,000 4,963,000,000 3,282,000,000 3,796,000,000 3,796,000,000  4,272,000,000 
        non-current assets
      		                                   
        property, plant and equipment
      		32,763,000,000 29,520,000,000 29,777,000,000 29,915,000,000 30,060,000,000 30,357,000,000 30,352,000,000 29,909,000,000 29,256,000,000 28,473,000,000 28,157,000,000 28,108,000,000 28,235,000,000 27,825,000,000 27,554,000,000 27,370,000,000 27,370,000,000 27,513,000,000 27,513,000,000 27,057,000,000 27,057,000,000 26,840,000,000 27,432,000,000 27,432,000,000 27,636,000,000 27,636,000,000 27,379,000,000 27,415,000,000        
        intangible assets
      		16,122,000,000 16,737,000,000 16,817,000,000 16,824,000,000 17,628,000,000 16,770,000,000 16,609,000,000 16,395,000,000 16,183,000,000 16,163,000,000 15,950,000,000 15,825,000,000 15,570,000,000 13,367,000,000 13,263,000,000 13,227,000,000 13,227,000,000 13,102,000,000 13,102,000,000 12,931,000,000 12,931,000,000 12,897,000,000 13,513,000,000 13,513,000,000 13,352,000,000 13,352,000,000 13,463,000,000 13,232,000,000        
        deferred tax assets
      		241,000,000 138,000,000 152,000,000 126,000,000 121,000,000 121,000,000 96,000,000 108,000,000 84,000,000 98,000,000 107,000,000 108,000,000 105,000,000 124,000,000 118,000,000 107,000,000 107,000,000 106,000,000 106,000,000 142,000,000 142,000,000 123,000,000 90,000,000 90,000,000 98,000,000 98,000,000 140,000,000 137,000,000        
        investments in associates and joint ventures
      		370,000,000 335,000,000 337,000,000 320,000,000 322,000,000 322,000,000 323,000,000 322,000,000 608,000,000 615,000,000 633,000,000 654,000,000 668,000,000 697,000,000 725,000,000 745,000,000 745,000,000 756,000,000 756,000,000 772,000,000 772,000,000 718,000,000 730,000,000 730,000,000 698,000,000 698,000,000 706,000,000 740,000,000        
        post-employment benefit assets
      		4,014,000,000 3,710,000,000 3,647,000,000 3,543,000,000 3,405,000,000 3,285,000,000 2,935,000,000 3,207,000,000 3,559,000,000 3,678,000,000 4,247,000,000 4,110,000,000 3,441,000,000 3,785,000,000 3,185,000,000 2,601,000,000 2,601,000,000 1,277,000,000 1,277,000,000                 
        other non-current assets
      		2,269,000,000 2,238,000,000 2,292,000,000 1,796,000,000 1,706,000,000 1,799,000,000 1,714,000,000 1,194,000,000 1,355,000,000 1,318,000,000 1,307,000,000 1,378,000,000 1,306,000,000 1,811,000,000 1,167,000,000 1,124,000,000 1,124,000,000 1,001,000,000 1,001,000,000 2,011,000,000 2,011,000,000 1,931,000,000 3,960,000,000 3,960,000,000 1,274,000,000 1,442,000,000 1,171,000,000 700,000,000        
        goodwill
      		14,544,000,000 10,175,000,000 10,170,000,000 10,289,000,000 11,358,000,000 10,997,000,000 10,942,000,000 11,022,000,000 10,906,000,000 10,700,000,000 10,724,000,000 10,724,000,000 10,572,000,000 10,578,000,000 10,579,000,000 10,606,000,000 10,606,000,000 10,604,000,000 10,604,000,000 10,552,000,000 10,552,000,000 10,551,000,000 10,667,000,000 10,667,000,000 10,667,000,000 10,667,000,000 10,669,000,000 10,674,000,000 5,484,000,000 5,484,000,000 7,922,000,000 7,902,000,000 7,902,000,000  10,144,000,000 
        total non-current assets
      		71,537,000,000 64,067,000,000 64,382,000,000 63,902,000,000 65,665,000,000 64,667,000,000 64,042,000,000 63,083,000,000 62,842,000,000 61,723,000,000 61,728,000,000 61,519,000,000 60,535,000,000 58,795,000,000 57,185,000,000 56,360,000,000 56,360,000,000 54,977,000,000 54,977,000,000 54,089,000,000 54,089,000,000 53,729,000,000 57,207,000,000 57,207,000,000 54,626,000,000 54,794,000,000 54,371,000,000 53,724,000,000        
        total assets
      		78,583,000,000 71,134,000,000 72,162,000,000 72,716,000,000 74,247,000,000 72,567,000,000 71,940,000,000 70,049,000,000 69,329,000,000 68,560,000,000 68,030,000,000 67,335,000,000 66,733,000,000 66,336,000,000 64,131,000,000 64,249,000,000 64,249,000,000 60,665,000,000 60,665,000,000 61,622,000,000 61,622,000,000 61,191,000,000 65,515,000,000 65,515,000,000 60,146,000,000 60,314,000,000 60,626,000,000 60,213,000,000 38,193,000,000 38,193,000,000 39,375,000,000 39,885,000,000 39,885,000,000  40,029,000,000 
        liabilities
      		                                   
        current liabilities
      		                                   
        trade payables and other liabilities
      		4,178,000,000 4,288,000,000 4,134,000,000 4,099,000,000 4,342,000,000 4,345,000,000 4,729,000,000 4,347,000,000 5,221,000,000 4,602,000,000 4,248,000,000 3,841,000,000 4,455,000,000 4,131,000,000 3,904,000,000 3,723,000,000 3,723,000,000 3,935,000,000 3,935,000,000 3,566,000,000 3,566,000,000 3,341,000,000 3,335,000,000 3,335,000,000 3,954,000,000 3,954,000,000 3,650,000,000 3,720,000,000        
        contract liabilities
      		737,000,000 677,000,000 773,000,000 710,000,000 749,000,000 817,000,000 811,000,000 793,000,000 857,000,000 801,000,000 785,000,000 838,000,000 799,000,000 748,000,000 767,000,000 762,000,000 762,000,000 717,000,000 717,000,000 699,000,000 699,000,000 723,000,000 725,000,000 725,000,000 683,000,000 683,000,000 681,000,000 708,000,000        
        interest payable
      		281,000,000 419,000,000 284,000,000 329,000,000 397,000,000 335,000,000 332,000,000 305,000,000 281,000,000 194,000,000 253,000,000 162,000,000 247,000,000 159,000,000 228,000,000 181,000,000 181,000,000 222,000,000 222,000,000 190,000,000 190,000,000 229,000,000 192,000,000 192,000,000 227,000,000 227,000,000 207,000,000 215,000,000 231,000,000 231,000,000 174,000,000 265,000,000 265,000,000   
        dividends payable
      		435,000,000 425,000,000 944,000,000 937,000,000 937,000,000 938,000,000 910,000,000 900,000,000 867,000,000 867,000,000 855,000,000 854,000,000 811,000,000 810,000,000 806,000,000 804,000,000 804,000,000 766,000,000 766,000,000 767,000,000 767,000,000 766,000,000 767,000,000 767,000,000 729,000,000 729,000,000 728,000,000 736,000,000 310,000,000 310,000,000 313,000,000 322,000,000 322,000,000   
        current tax liabilities
      		721,000,000 229,000,000 137,000,000 49,000,000 75,000,000 170,000,000 268,000,000 207,000,000 106,000,000 263,000,000 299,000,000 189,000,000 141,000,000 162,000,000 344,000,000 271,000,000 271,000,000 214,000,000 214,000,000 292,000,000 292,000,000 287,000,000 186,000,000 186,000,000 303,000,000 303,000,000 383,000,000 287,000,000        
        debt due within one year
      		5,820,000,000 5,037,000,000 5,323,000,000 7,475,000,000 6,587,000,000 6,386,000,000 5,042,000,000 6,039,000,000 4,137,000,000 4,686,000,000 3,309,000,000 3,082,000,000 2,625,000,000 1,994,000,000 2,304,000,000 3,786,000,000 3,786,000,000 2,417,000,000 2,417,000,000 2,904,000,000 2,904,000,000 2,584,000,000 4,209,000,000 4,209,000,000 3,881,000,000 3,881,000,000 4,728,000,000 5,676,000,000 1,411,000,000 1,411,000,000 1,308,000,000 1,210,000,000 1,210,000,000  1,597,000,000 
        liabilities held for sale
      		7,000,000 500,000,000 525,000,000 529,000,000 35,000,000 15,000,000 15,000,000      35,000,000       159,000,000 159,000,000 205,000,000              
        total current liabilities
      		12,179,000,000 11,575,000,000 12,120,000,000 14,128,000,000 13,122,000,000 13,006,000,000 12,107,000,000 12,591,000,000 11,469,000,000 11,413,000,000 9,749,000,000 8,966,000,000 9,113,000,000 8,004,000,000 8,353,000,000 9,527,000,000 9,527,000,000 8,271,000,000 8,271,000,000 8,577,000,000 8,577,000,000 8,135,000,000 9,414,000,000 9,414,000,000 9,777,000,000 9,777,000,000 10,377,000,000 11,342,000,000 4,998,000,000 4,998,000,000 4,965,000,000 4,939,000,000 4,939,000,000  5,191,000,000 
        non-current liabilities
      		                                   
        long-term debt
      		35,155,000,000 32,522,000,000 33,869,000,000 32,606,000,000 32,918,000,000 31,283,000,000 31,135,000,000 28,314,000,000 27,783,000,000 26,767,000,000 27,007,000,000 26,877,000,000 27,048,000,000 27,070,000,000 25,422,000,000 24,965,000,000 24,965,000,000 23,906,000,000 23,906,000,000 24,914,000,000 24,914,000,000 25,024,000,000 25,513,000,000 25,513,000,000 22,415,000,000 22,415,000,000 22,445,000,000 21,949,000,000 13,063,000,000 13,063,000,000 12,943,000,000 12,978,000,000 12,978,000,000  13,582,000,000 
        deferred tax liabilities
      		5,526,000,000 5,516,000,000 5,335,000,000 5,256,000,000 5,271,000,000 4,981,000,000 4,869,000,000 4,898,000,000 4,953,000,000 4,915,000,000 5,120,000,000 5,065,000,000 4,671,000,000 4,824,000,000 4,530,000,000 4,285,000,000 4,285,000,000 3,810,000,000 3,810,000,000 3,827,000,000 3,827,000,000 3,765,000,000 4,444,000,000 4,444,000,000 3,561,000,000 3,606,000,000 3,425,000,000 3,146,000,000        
        post-employment benefit obligations
      		1,186,000,000 1,154,000,000 1,189,000,000 1,238,000,000 1,202,000,000 1,227,000,000 1,278,000,000 1,339,000,000 1,311,000,000 1,293,000,000 1,266,000,000 1,464,000,000 1,734,000,000 1,672,000,000 1,734,000,000 1,723,000,000 1,723,000,000 1,962,000,000 1,962,000,000 1,969,000,000 1,969,000,000 1,980,000,000 1,603,000,000 1,603,000,000 1,907,000,000 1,907,000,000 2,038,000,000 2,158,000,000        
        other non-current liabilities
      		1,402,000,000 1,616,000,000 1,661,000,000 1,166,000,000 1,427,000,000 1,421,000,000 1,717,000,000 1,201,000,000 1,070,000,000 964,000,000 884,000,000 934,000,000 1,003,000,000 1,012,000,000 1,081,000,000 1,141,000,000 1,141,000,000 1,145,000,000 1,145,000,000 1,032,000,000 1,032,000,000 934,000,000 906,000,000 906,000,000 871,000,000 871,000,000 872,000,000 938,000,000        
        total non-current liabilities
      		43,646,000,000 41,182,000,000 42,423,000,000 40,607,000,000 41,115,000,000 39,189,000,000 39,276,000,000 36,009,000,000 35,345,000,000 34,166,000,000 34,516,000,000 34,584,000,000 34,702,000,000 34,823,000,000 33,009,000,000 32,356,000,000 32,356,000,000 31,065,000,000 31,065,000,000 31,965,000,000 31,965,000,000 31,919,000,000 32,677,000,000 32,677,000,000 28,961,000,000 29,006,000,000 28,986,000,000 28,410,000,000        
        total liabilities
      		55,825,000,000 52,757,000,000 54,543,000,000 54,735,000,000 54,237,000,000 52,195,000,000 51,383,000,000 48,600,000,000 46,814,000,000 45,579,000,000 44,265,000,000 43,550,000,000 43,815,000,000 42,827,000,000 41,362,000,000 41,883,000,000 41,883,000,000 39,336,000,000 39,336,000,000 40,542,000,000 40,542,000,000 40,054,000,000 42,091,000,000 42,091,000,000 38,738,000,000 38,783,000,000 39,363,000,000 39,752,000,000 22,900,000,000 22,900,000,000 22,783,000,000 22,889,000,000 22,889,000,000  23,200,000,000 
        commitments and contingency
      		                                   
        equity
      		                                   
        equity attributable to bce shareholders
      		                                   
        preferred shares
      		3,338,000,000 3,424,000,000 3,481,000,000 3,559,000,000 3,559,000,000 3,614,000,000 3,667,000,000 3,781,000,000 3,870,000,000 3,885,000,000 3,885,000,000 3,885,000,000 4,003,000,000 4,003,000,000 4,003,000,000 4,003,000,000 4,003,000,000 4,003,000,000 4,003,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 4,004,000,000 1,670,000,000 1,670,000,000 1,670,000,000 1,670,000,000 1,670,000,000  1,670,000,000 
        common shares
      		21,493,000,000 21,493,000,000 21,174,000,000 20,860,000,000 20,860,000,000 20,859,000,000 20,859,000,000 20,859,000,000 20,840,000,000 20,838,000,000 20,837,000,000 20,830,000,000 20,662,000,000 20,646,000,000 20,467,000,000 20,400,000,000 20,400,000,000 20,390,000,000 20,390,000,000 20,386,000,000 20,386,000,000 20,386,000,000 20,386,000,000 20,386,000,000 20,363,000,000 20,363,000,000 20,350,000,000 20,144,000,000 13,555,000,000 13,555,000,000 16,159,000,000 16,467,000,000 16,467,000,000  16,643,000,000 
        contributed surplus
      		1,321,000,000 1,295,000,000 1,271,000,000 1,271,000,000 1,263,000,000 1,241,000,000 1,258,000,000 1,204,000,000 1,172,000,000 1,162,000,000 1,151,000,000 1,137,000,000 1,157,000,000 1,151,000,000 1,156,000,000 1,154,000,000 1,154,000,000 1,174,000,000 1,174,000,000 1,168,000,000 1,168,000,000 1,155,000,000 1,156,000,000 1,156,000,000 1,178,000,000 1,178,000,000 1,167,000,000 1,165,000,000 2,574,000,000 2,574,000,000 1,019,000,000 1,036,000,000 1,036,000,000  1,026,000,000 
        accumulated other comprehensive income
      		295,000,000 240,000,000 45,000,000 17,000,000  46,000,000 -42,000,000  -55,000,000 10,000,000 273,000,000 355,000,000 213,000,000 320,000,000 204,000,000 163,000,000 163,000,000 103,000,000 103,000,000 258,000,000 258,000,000 386,000,000 528,000,000 528,000,000 161,000,000 161,000,000 141,000,000 14,000,000        
        cumulative translation adjustment
      		75,000,000                                   
        deficit
      		-4,064,000,000 -8,385,000,000 -8,638,000,000 -8,029,000,000 -5,974,000,000 -5,711,000,000 -5,513,000,000 -4,618,000,000 -3,649,000,000 -3,254,000,000 -2,709,000,000 -2,740,000,000 -3,423,000,000 -2,962,000,000 -3,401,000,000 -3,693,000,000 -3,693,000,000 -4,681,000,000 -4,681,000,000 -5,087,000,000 -5,087,000,000 -5,142,000,000 -2,990,000,000 -2,990,000,000 -4,632,000,000 -4,509,000,000 -4,735,000,000 -5,195,000,000 -4,726,000,000 -4,726,000,000 -4,706,000,000 -4,747,000,000 -4,747,000,000   
        total equity attributable to bce shareholders
      		22,458,000,000 18,067,000,000 17,333,000,000 17,678,000,000 19,693,000,000 20,049,000,000 20,229,000,000 21,121,000,000 22,178,000,000 22,641,000,000 23,437,000,000 23,467,000,000 22,612,000,000 23,158,000,000 22,429,000,000 22,027,000,000 22,027,000,000 20,989,000,000 20,989,000,000 20,729,000,000 20,729,000,000 20,789,000,000 23,084,000,000 23,084,000,000 21,074,000,000 21,197,000,000 20,927,000,000 20,132,000,000        
        non-controlling interest
      		300,000,000 310,000,000 286,000,000 303,000,000 317,000,000 323,000,000 328,000,000 328,000,000 337,000,000 340,000,000 328,000,000 318,000,000 306,000,000 351,000,000 340,000,000 339,000,000 339,000,000 340,000,000 340,000,000 351,000,000 351,000,000 348,000,000 340,000,000 340,000,000 334,000,000 334,000,000 336,000,000 329,000,000 2,222,000,000 2,222,000,000 2,453,000,000 2,633,000,000 2,633,000,000  3,630,000,000 
        total equity
      		22,758,000,000 18,377,000,000 17,619,000,000 17,981,000,000 20,010,000,000 20,372,000,000 20,557,000,000 21,449,000,000 22,515,000,000 22,981,000,000 23,765,000,000 23,785,000,000 22,918,000,000 23,509,000,000 22,769,000,000 22,366,000,000 22,366,000,000 21,329,000,000 21,329,000,000 21,080,000,000 21,080,000,000 21,137,000,000 23,424,000,000 23,424,000,000 21,408,000,000 21,531,000,000 21,263,000,000 20,461,000,000        
        total liabilities and equity
      		78,583,000,000 71,134,000,000 72,162,000,000 72,716,000,000 74,247,000,000 72,567,000,000 71,940,000,000 70,049,000,000 69,329,000,000 68,560,000,000 68,030,000,000 67,335,000,000 66,733,000,000 66,336,000,000 64,131,000,000 64,249,000,000 64,249,000,000 60,665,000,000 60,665,000,000 61,622,000,000 61,622,000,000 61,191,000,000 65,515,000,000 65,515,000,000 60,146,000,000 60,314,000,000 60,626,000,000 60,213,000,000        
        contingency
      		                                   
        accumulated other comprehensive loss
      		    -15,000,000   -105,000,000                            
        number of common shares outstanding
      		      912,300,000  912,000,000    909,000,000      904,400,000       903,900,000          
        commitments
      		                                   
        commitments and contingencies
      		                                   
        bce inc. 2019 annual report
      		                                   
        cash and cash equivalents
      		                            2,293,000,000 2,293,000,000 112,000,000 878,000,000 878,000,000  795,000,000 
        accounts receivable
      		                            1,838,000,000 1,838,000,000 1,975,000,000 1,726,000,000 1,726,000,000   
        current assets of discontinued operations
      		                                  22,000,000 
        capital assets
      		                            21,892,000,000 21,892,000,000 22,174,000,000 22,062,000,000 22,062,000,000  20,431,000,000 
        other long-term assets
      		                            2,907,000,000 2,907,000,000 2,743,000,000 2,776,000,000 2,776,000,000  4,217,000,000 
        indefinite-life intangible assets
      		                            2,903,000,000 2,903,000,000 3,035,000,000 3,031,000,000 3,031,000,000  912,000,000 
        non-current assets of discontinued operations
      		                            44,000,000 44,000,000 219,000,000 318,000,000 318,000,000  53,000,000 
        accounts payable and accrued liabilities
      		                            3,045,000,000 3,045,000,000 3,169,000,000 3,054,000,000 3,054,000,000  3,574,000,000 
        current liabilities of discontinued operations
      		                            1,000,000 1,000,000 1,000,000 88,000,000 88,000,000  20,000,000 
        other long-term liabilities
      		                            4,839,000,000 4,839,000,000 4,875,000,000 4,972,000,000 4,972,000,000  4,425,000,000 
        non-current liabilities of discontinued operations
      		                                  2,000,000 
        shareholders’ equity
      		                                   
        common shareholders’ equity
      		                                   
        currency translation adjustment
      		                            -2,000,000 -2,000,000 -3,000,000 -1,000,000 -1,000,000   
        total common shareholders’ equity
      		                            11,401,000,000 11,401,000,000 12,469,000,000 12,693,000,000 12,693,000,000   
        total shareholders’ equity
      		                            13,071,000,000 13,071,000,000 14,139,000,000 14,363,000,000 14,363,000,000   
        total liabilities and shareholders’ equity
      		                            38,193,000,000 38,193,000,000 39,375,000,000 39,885,000,000 39,885,000,000   
        treasury stock
      		                               -62,000,000 -62,000,000   
        accounts receivable (net of allowance for doubtful accounts of
      		                                   
        224 million and 207 million for 2003 and 2002, respectively)
      		                                  2,407,000,000 
        common shareholders` equity
      		                                   
        total common shareholders` equity
      		                                  11,529,000,000 
        total shareholders` equity
      		                                  13,199,000,000 
        total liabilities and shareholders` equity
      		                                  40,029,000,000 
        refer to note 1, significant accounting policies, for changes in accounting policies.
      		                                   
        please read the notes starting on page 31. they are an important part of these consolidated financial statements.
      		                                   
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-06-30 2025-03-31 2024-03-31 2024-02-08 2023-06-30 2023-02-02 2022-06-30 2022-05-05 2021-06-30 2021-04-29 2021-02-04 2020-06-30 2020-05-07 2019-06-30 2006-05-03 2006-03-31 
                        
          cash flows from operating activities
        		1,947,000,000 1,571,000,000 1,132,000,000 2,373 2,365,000,000 2,056 2,597,000,000 1,716,000,000 2,499,000,000 1,992,000,000 1,631 2,562,000,000 1,451,000,000 2,093,000,000 940,000,000 940,000,000 
          net earnings
        		644,000,000 683,000,000 457,000,000 435 397,000,000 567 654,000,000 934,000,000     733,000,000 817,000,000   
          adjustments to reconcile net earnings to cash flows from operating activities
        		                
          severance, acquisition and other costs
        		41,000,000 247,000,000 229,000,000 41 100,000,000 19 40,000,000 13,000,000 7,000,000 89,000,000 52 22,000,000 16,000,000 39,000,000   
          depreciation and amortization
        		1,287,000,000 1,272,000,000 1,262,000,000 1,253 1,232,000,000 1,192 1,199,000,000 1,151,000,000 1,153,000,000 1,133,000,000 1,105 1,103,000,000 1,102,000,000 1,111,000,000   
          post-employment benefit plans cost
        		19,000,000 29,000,000 44,000,000 23 21,000,000 47 52,000,000 51,000,000 68,000,000 79,000,000 76 75,000,000 87,000,000 73,000,000   
          net interest expense
        		427,000,000 397,000,000 384,000,000 374 346,000,000 319 265,000,000 258,000,000 263,000,000 263,000,000 269 275,000,000 272,000,000 273,000,000   
          impairment of assets
        		8,000,000 9,000,000 13,000,000 109  150 106,000,000 2,000,000 164,000,000 3,000,000 12 449,000,000     
          gains on investments
        		    -79,000,000  -16,000,000 -37,000,000         
          net equity losses from investments in associates and joint ventures
        		    377,000,000            
          income taxes
        		240,000,000 257,000,000 166,000,000 210 273,000,000 222 232,000,000 335,000,000 236,000,000 253,000,000 191 96,000,000 245,000,000 276,000,000   
          contributions to post-employment benefit plans
        		-12,000,000 -18,000,000 -18,000,000 -12 -13,000,000 -12 -35,000,000 -79,000,000 -70,000,000 -79,000,000 -78 -71,000,000 -79,000,000 -70,000,000   
          payments under other post-employment benefit plans
        		-15,000,000 -14,000,000 -16,000,000 -16 -17,000,000 -17 -15,000,000 -15,000,000 -16,000,000 -15,000,000 -17 -12,000,000 -17,000,000 -19,000,000   
          severance and other costs paid
        		-198,000,000 -81,000,000 -46,000,000 -59 -39,000,000 -27 -30,000,000 -28,000,000 -79,000,000 -43,000,000 -19 -13,000,000 -35,000,000 -33,000,000   
          interest paid
        		-308,000,000 -561,000,000 -448,000,000 -326 -270,000,000 -243 -196,000,000 -373,000,000 -230,000,000 -306,000,000 -235 -240,000,000 -318,000,000 -270,000,000   
          income taxes paid
        		-50,000,000 -74,000,000 -335,000,000 -169 -200,000,000 -340 -143,000,000 -116,000,000  -109,000,000 -383 6,000,000 -233,000,000 -127,000,000   
          acquisition and other costs paid
        		-6,000,000  -15,000,000 3 -5,000,000 3 -3,000,000 -3,000,000 -2,000,000 -4,000,000 -2 -11,000,000 -9,000,000 -21,000,000   
          net change in operating assets and liabilities
        		-138,000,000 -569,000,000 -636,000,000 519 185,000,000 346 396,000,000 -468,000,000 325,000,000 -12,000,000 -58 576,000,000 -314,000,000 44,000,000   
          cash flows from investing activities
        		-750,000,000 -339,000,000 -898,000,000  -1,456,000,000  -1,190,000,000 -1,048,000,000 -1,235,000,000 -1,033,000,000  -944,000,000 -790,000,000 -990,000,000 -613,000,000  
          capital expenditures
        		-763,000,000 -729,000,000 -1,002,000,000 -1,029 -1,307,000,000 -1,638 -1,219,000,000 -952,000,000 -1,207,000,000 -1,012,000,000 -1,494 -900,000,000 -783,000,000 -972,000,000 -593,000,000 -593,000,000 
          decrease in short-term investments
        		 400,000,000               
          business acquisitions
        		-24,000,000 1,000,000 -82,000,000  -196,000,000 -287  -139,000,000 -11,000,000  -42 -23,000,000  -50,000,000 -27,000,000 -27,000,000 
          business dispositions
        		36,000,000    208,000,000  2,000,000 52,000,000         
          decrease in investments
        		              51,000,000 51,000,000 
          spectrum licences
        		  -104,000,000 -24 -145,000,000            
          other investing activities
        		1,000,000 -11,000,000 -10,000,000  -16,000,000 -13 27,000,000 -9,000,000 -17,000,000 -21,000,000 -12 -13,000,000 -7,000,000 32,000,000 -8,000,000 -8,000,000 
          cash flows from financing activities
        		 -1,752,000,000   -750,000,000  -989,000,000  -2,119,000,000 1,424,000,000  -2,750,000,000 1,873,000,000 -677,000,000 -662,000,000  
          increase in notes payable
        		405,000,000 -1,131,000,000 979,000,000 -162 -101,000,000 -511 187,000,000 469,000,000    -1,204,000,000 -230,000,000 277,000,000   
          issue of long-term debt
        		318,000,000 4,437,000,000 2,191,000,000 1,331 1,199,000,000 1,006  945,000,000 500,000,000 2,915,000,000  1,975,000,000 3,281,000,000 1,405,000,000 1,095,000,000 1,095,000,000 
          repayment of long-term debt
        		-1,725,000,000 -4,256,000,000 -2,113,000,000 -293 -346,000,000 -250 -245,000,000 -1,258,000,000 -2,041,000,000 -226,000,000 -1,094 -2,221,000,000 -711,000,000 -1,599,000,000 -487,000,000 -487,000,000 
          purchase of shares for settlement of share-based payments
        		-32,000,000 -64,000,000 -104,000,000 -44 -42,000,000 -49 -51,000,000 -106,000,000 -71,000,000 -91,000,000 -54 -75,000,000 -94,000,000 -10,000,000   
          repurchase of preferred shares
        		-39,000,000 -37,000,000 -38,000,000 -50 -32,000,000 -10  -115,000,000         
          cash dividends paid on common shares
        		-608,000,000 -602,000,000 -883,000,000 -882 -882,000,000 -839 -839,000,000 -795,000,000 -791,000,000 -753,000,000 -753 -753,000,000 -716,000,000 -712,000,000 -305,000,000 -305,000,000 
          cash dividends paid on preferred shares
        		-38,000,000 -39,000,000 -46,000,000 -46 -46,000,000 -42 -34,000,000 -33,000,000 -31,000,000 -31,000,000 -31 -33,000,000 -36,000,000 -37,000,000 -21,000,000 -21,000,000 
          cash dividends paid by subsidiaries to non-controlling interest
        		 -13,000,000 -14,000,000 -12 -1,000,000  -14,000,000 -11,000,000 -15,000,000 -13,000,000 -16 -12,000,000 -14,000,000 -12,000,000 -61,000,000 -61,000,000 
          other financing activities
        		-20,000,000 -47,000,000 -18,000,000  -7,000,000   -28,000,000 -44,000,000 -17,000,000 -6 -25,000,000 -29,000,000 -33,000,000 -25,000,000 -25,000,000 
          effect of currency exchange rate changes on cash and cash equivalents
        		                
          net increase in cash
        		-542,000,000 -523,000,000 242,000,000 -22 -201,000,000 -484 418,000,000 -103,000,000 -155,000,000 1,683,000,000  354,000,000 802,000,000 173,000,000   
          cash at beginning of period
        		1,049,000,000 1,572,000,000 547,000,000 569 651,000,000 583 178,000,000 207,000,000 1,907,000,000 224,000,000  943,000,000 141,000,000 546,000,000   
          cash at end of period
        		507,000,000 1,049,000,000 789,000,000 547 450,000,000 99 596,000,000 104,000,000 1,752,000,000 1,907,000,000  1,297,000,000 943,000,000 719,000,000   
          net increase in cash equivalents
        		 3,000,000 -54,000,000 175 360,000,000 -100   -700,000,000 700,000,000  -1,486,000,000 1,732,000,000 253,000,000   
          cash equivalents at beginning of period
        		3,000,000  225,000,000 50 90,000,000 150   700,000,000   1,736,000,000 4,000,000 122,000,000   
          cash equivalents at end of period
        		3,000,000 3,000,000 171,000,000 225 450,000,000 50    700,000,000  250,000,000 1,736,000,000 375,000,000   
          losses on investments
        		8,000,000 2,000,000 6,000,000   29     -3  1,000,000    
          cash flows (used in) from financing activities
        		-1,739,000,000  -46,000,000     -771,000,000         
          change in contract assets
        		  28,000,000 -81 33,000,000 -94 23,000,000 32,000,000 102,000,000 144,000,000       
          change in wireless device financing plan receivables
        		  57,000,000 -127 24,000,000 -99 68,000,000 59,000,000 -61,000,000 -91,000,000       
          short-term investments
        		  300,000,000 1,000             
          repurchase of a financial liability
        		                
          issue of common shares
        		    8,000,000 2 7,000,000 161,000,000 63,000,000 10,000,000 4  22,000,000 44,000,000 1,000,000 1,000,000 
          net decrease in cash equivalents
        		                
          free cash flow
        		   1,289  376     92      
          increase in short-term investments
        		                
          decrease in securitized receivables
        		    -500,000,000            
          increase in securitized receivables
        		                
          assets
        		                
          current assets
        		                
          cash
        		   547  99     224      
          cash equivalents
        		   225  50           
          trade and other receivables
        		   4,031  4,138     3,528      
          inventory
        		   465  656     439      
          contract assets
        		   443  436     687      
          contract costs
        		   633  540     402      
          prepaid expenses
        		   230  244     209      
          other current assets
        		   264  324     199      
          assets held for sale
        		   60             
          total current assets
        		   7,898  6,487     5,688      
          non-current assets
        		                
          property, plant and equipment
        		   30,352  29,256     27,513      
          intangible assets
        		   16,609  16,183     13,102      
          deferred tax assets
        		   96  84     106      
          investments in associates and joint ventures
        		   323  608     756      
          post-employment benefit assets
        		   2,935  3,559     1,277      
          other non-current assets
        		   1,714  1,355     1,001      
          goodwill
        		   10,942  10,906     10,604      
          total non-current assets
        		   64,042  62,842     54,977      
          total assets
        		   71,940  69,329     60,665      
          liabilities
        		                
          current liabilities
        		                
          trade payables and other liabilities
        		   4,729  5,221     3,935      
          contract liabilities
        		   811  857     717      
          interest payable
        		   332  281     222      
          dividends payable
        		   910  867     766      
          current tax liabilities
        		   268  106     214      
          debt due within one year
        		   5,042  4,137     2,417      
          liabilities held for sale
        		   15             
          total current liabilities
        		   12,107  11,469     8,271      
          non-current liabilities
        		                
          long-term debt
        		   31,135  27,783     23,906      
          deferred tax liabilities
        		   4,869  4,953     3,810      
          post-employment benefit obligations
        		   1,278  1,311     1,962      
          other non-current liabilities
        		   1,717  1,070     1,145      
          total non-current liabilities
        		   39,276  35,345     31,065      
          total liabilities
        		   51,383  46,814     39,336      
          equity
        		                
          equity attributable to bce shareholders
        		                
          preferred shares
        		   3,667  3,870     4,003      
          common shares
        		   20,859  20,840     20,390      
          contributed surplus
        		   1,258  1,172     1,174      
          accumulated other comprehensive income
        		   -42  -55     103      
          deficit
        		   -5,513  -3,649     -4,681      
          total equity attributable to bce shareholders
        		   20,229  22,178     20,989      
          non-controlling interest
        		   328  337     340    53,000,000 53,000,000 
          total equity
        		   20,557  22,515     21,329      
          total liabilities and equity
        		   71,940  69,329     60,665      
          number of common shares outstanding
        		   912.3  912     904.4      
          net equity losses on investments in associates and joint ventures
        		   204             
          net earnings attributable to common shareholders
        		                
          402
        		                
          million
        		                
          (44.6%) vs. q1 2023
        		                
          bce customer connections
        		                
          decrease in securitized trade receivables
        		                
          net earnings from continuing operations
        		        734,000,000 687,000,000 721 290,000,000     
          adjustments to reconcile net earnings from continuing operations to cash flows from operating activities
        		                
          cash from discontinued operations
        		           17,000,000   768,000,000 768,000,000 
          acquisition of spectrum licences
        		                
          spectrum payment
        		                
          increase in notes payable and bank advances
        		        311,000,000        
          income taxes received
        		        -95,000,000        
          decrease in notes payable and bank advances
        		         -357,000,000     -58,000,000 -58,000,000 
          increase in securitized trade receivables
        		         -13,000,000 23 -400,000,000 400,000,000    
          cash flows used in investing activities
        		               -613,000,000 
          cash from (used in) discontinued operations
        		                
          decrease in notes payable
        		          -524      
          cash at beginning of year
        		                
          cash at end of year
        		                
          cash equivalents at beginning of year
        		                
          cash equivalents at end of year
        		                
          cash from
        		          913      
          net increase in cash and cash equivalents
        		          -1,455    433,000,000 433,000,000 
          cash and cash equivalents at beginning of period
        		          1,679    445,000,000 445,000,000 
          cash and cash equivalents at end of period
        		          224    878,000,000 878,000,000 
          cash flows used in financing activities
        		                
          cash flows from (used in) financing activities
        		               -662,000,000 
          disposition of intangibles and other assets
        		                
          repurchase of common shares
        		                
          return of capital to non-controlling interest
        		                
          net decrease in cash
        		                
          bce inc. 2019 annual report
        		                
          ●
        		                
          earnings from continuing operations
        		              413,000,000 413,000,000 
          adjustments to reconcile earnings from continuing operations to cash flows from operating activities:
        		                
          amortization expense
        		              766,000,000 766,000,000 
          net benefit plans cost
        		              142,000,000 142,000,000 
          restructuring and other items
        		              88,000,000 88,000,000 
          net gains on investments
        		              -2,000,000 -2,000,000 
          future income taxes
        		              200,000,000 200,000,000 
          contributions to employee pension plans
        		              -37,000,000 -37,000,000 
          other employee future benefit plan payments
        		              -25,000,000 -25,000,000 
          payments of restructuring and other items
        		              -37,000,000 -37,000,000 
          operating assets and liabilities
        		              -621,000,000 -621,000,000 
          bell aliant regional communications income fund
        		              -22,000,000 -22,000,000 
          increase in investments
        		              -14,000,000 -14,000,000 
          issue of equity securities by subsidiaries to non-controlling interest
        		              3,000,000 3,000,000 
          redemption of equity securities by subsidiaries from non-controlling interest
        		                
          cash dividends/distributions paid by subsidiaries to non-controlling interest
        		                
          cash from continuing operations
        		              -335,000,000 -335,000,000 
          consists of:
        		                
          cash and cash equivalents of continuing operations
        		              878,000,000 878,000,000 
          cash and cash equivalents of discontinued operations
        		                
          total
        		              878,000,000 878,000,000 
          return of capital by subsidiary to non-controlling interest
        		              -279,000,000 -279,000,000 
          net decrease in cash and cash equivalents
        		                
          repurchase of common shares cancelled
        		              -525,000,000 -525,000,000 
          2
        		                
          3
        		                
          4
        		                
          france poulin communications (514) 786-8033 web site: www.bce.ca
        		                
          •