TELUS Corporation
(NYSE:TU)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Wireless and Wireline segments. The Wireless segment offers a range of telecommunications products and services. Its wireless prod...

Website: http://www.telus.com

Founded: 1990

Full Time Employees: 65,600

CEO: Darren Entwistle

Sector: Communication Services

Industry: Telecom Services

Telecommunication Canadian

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Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2021-12-31	2021-11-05	2021-06-30	2021-03-31	2021-02-11	2020-11-06	2020-06-30	2020-05-07	2020-03-31	2020-02-13	2019-12-31	2019-11-07	2019-09-30	2019-08-02	2019-06-30	2019-05-09	2019-04-05	2019-03-31	2018-12-31	2018-08-30	2018-05-10	2018-04-06	2018-03-31	2018-02-08	2017-12-31	2017-11-09	2017-09-30	2017-08-11	2017-06-30	2017-05-11	2017-02-09	2016-11-04	2016-08-05	2016-05-05	2016-02-11	2015-11-05	2015-08-07	2015-05-07	2014-08-07	2014-05-08	2014-02-13	2013-11-08	2013-08-08	2013-02-15	2012-02-23	2011-11-04	2011-08-05	2011-05-05	2010-05-05	2010-02-25	2009-05-07	2008-12-31	2008-11-07	2008-08-08

operating revenues	5,067,000,000	5,031,000,000	5,018,000,000	5,042,000,000	4,900,000,000	4,866,000,000	5,156,000,000	4,990,000,000	4,934,000,000	4,925,000,000	5,023,000,000	4,640,000,000	4,373,000,000	4,461,000,000	4,246,000,000	4,109,000,000	4,022,000,000				3,694,000,000		3,858,000,000		3,697,000,000		3,597,000,000		3,506,000,000					3,377,000,000			13,304,000,000		3,366,000,000		3,273,000,000		3,198,000,000					12,502,000,000														2,375,000,000	9,606,000,000	2,375,000,000	9,653,000,000	2,449,300,000	2,398,700,000
yoy	3.41%	3.39%	-2.68%	1.04%	-0.69%	-1.20%	2.65%	7.54%	12.83%	10.40%	18.30%	12.92%	8.73%				8.88%				-0.08%		7.26%		5.45%												306.48%		5.25%																							-3.03%	300.47%
qoq	0.72%	0.26%	-0.48%	2.90%	0.70%	-5.62%	3.33%	1.13%	0.18%	-1.95%	8.25%	6.11%	-1.97%	5.06%	3.33%	2.16%																																														-75.28%	304.46%	-75.40%	294.11%	2.11%
service	4,507,000,000	4,491,000,000	4,443,000,000	4,410,000,000	4,342,000,000	4,329,000,000	4,417,000,000	4,388,000,000	4,358,000,000	4,345,000,000	4,286,000,000	4,048,000,000	3,857,000,000	3,805,000,000	3,669,000,000	3,559,000,000	3,502,000,000	3,409,000,000	3,373,000,000	3,250,000,000		3,245,000,000		12,400,000,000		3,138,000,000		3,086,000,000		11,882,000,000	3,020,000,000	11,882,000,000	3,029,000,000		12,478,000,000	2,886,000,000		12,478,000,000		3,174,000,000		3,091,000,000		12,000,000,000	3,045,000,000	2,952,000,000	2,924,000,000		2,934,000,000	2,884,000,000	2,829,000,000	2,749,000,000	2,702,000,000	2,699,000,000	2,687,000,000	2,633,000,000	2,598,000,000	9,606,000,000	2,443,000,000	2,379,000,000	2,337,000,000
equipment	560,000,000	540,000,000	575,000,000	632,000,000	558,000,000	537,000,000	739,000,000	602,000,000	576,000,000	580,000,000	737,000,000	592,000,000	516,000,000	656,000,000	577,000,000	550,000,000	520,000,000	652,000,000	588,000,000	406,000,000		418,000,000		2,189,000,000		549,000,000		501,000,000		2,213,000,000	469,000,000	2,213,000,000	562,000,000		724,000,000	465,000,000		724,000,000		181,000,000		168,000,000		725,000,000	180,000,000	164,000,000	172,000,000		207,000,000	208,000,000	182,000,000	189,000,000	172,000,000	229,000,000	168,000,000	177,000,000	236,000,000	719,000,000	169,000,000	165,000,000	169,000,000
other income	39,000,000	51,000,000	39,000,000	57,000,000	74,000,000	66,000,000	42,000,000	18,000,000	12,000,000	39,000,000	35,000,000	31,000,000	28,000,000	411,000,000	5,000,000	2,000,000	2,000,000
operating revenues and other income	5,106,000,000	5,082,000,000	5,057,000,000	5,099,000,000	4,974,000,000	4,932,000,000	5,198,000,000	5,008,000,000	4,946,000,000	4,964,000,000	5,058,000,000	4,671,000,000	4,401,000,000	4,872,000,000	4,251,000,000	4,111,000,000	4,024,000,000
operating expenses																																					10,699,000,000											10,149,000,000
goods and services purchased	1,942,000,000	1,858,000,000	1,847,000,000	1,868,000,000	1,825,000,000	1,810,000,000	2,086,000,000	1,858,000,000	1,790,000,000	1,803,000,000	2,082,000,000	1,794,000,000	1,637,000,000	1,882,000,000	1,660,000,000	1,609,000,000	1,548,000,000	1,766,000,000	1,632,000,000	1,458,000,000		1,412,000,000		6,070,000,000		1,502,000,000		1,466,000,000		6,368,000,000	1,421,000,000	6,368,000,000	1,685,000,000		5,935,000,000	1,408,000,000		5,935,000,000		1,531,000,000		1,433,000,000		5,631,000,000	1,426,000,000	1,331,000,000	1,300,000,000		1,394,000,000	1,372,000,000	1,284,000,000	1,268,000,000	1,222,000,000	1,349,000,000	1,237,000,000	1,222,000,000	1,330,000,000	4,726,000,000	1,178,000,000	1,134,000,000	1,098,000,000
employee benefits expense	1,411,000,000	1,545,000,000	1,466,000,000	1,475,000,000	1,473,000,000	1,484,000,000	1,407,000,000	1,633,000,000	1,568,000,000	1,540,000,000	1,378,000,000	1,231,000,000	1,171,000,000	1,108,000,000	1,095,000,000	1,051,000,000	1,015,000,000	958,000,000	959,000,000	911,000,000		873,000,000		3,034,000,000		761,000,000		758,000,000		2,896,000,000	706,000,000	2,896,000,000	740,000,000		2,595,000,000	700,000,000		2,595,000,000		639,000,000		646,000,000		2,939,000,000	681,000,000	628,000,000	668,000,000		693,000,000	649,000,000	609,000,000	610,000,000	596,000,000	648,000,000	602,000,000	606,000,000	574,000,000	1,893,000,000	476,000,000	470,000,000	447,000,000
depreciation	621,000,000	601,000,000	592,000,000	597,000,000	608,000,000	690,000,000	665,000,000	611,000,000	598,000,000	640,000,000	589,000,000	550,000,000	536,000,000	545,000,000	530,000,000	527,000,000	524,000,000	539,000,000	540,000,000	505,000,000		523,000,000		1,929,000,000		489,000,000		470,000,000		1,669,000,000	470,000,000	1,669,000,000	419,000,000		1,617,000,000	411,000,000		1,617,000,000		410,000,000		391,000,000		1,564,000,000	388,000,000	385,000,000	385,000,000		361,000,000	361,000,000	347,000,000	348,000,000	346,000,000	347,000,000	342,000,000	344,000,000	373,000,000	1,331,000,000	331,000,000	326,000,000	332,000,000	345,000,000	1,341,000,000	334,000,000	1,384,000,000	344,000,000	343,500,000
amortization of intangible assets	390,000,000	403,000,000	400,000,000	371,000,000	386,000,000	373,000,000	376,000,000	389,000,000	408,000,000	382,000,000	340,000,000	300,000,000	295,000,000	285,000,000	274,000,000	266,000,000	265,000,000	250,000,000	233,000,000	220,000,000		202,000,000		648,000,000		160,000,000		163,000,000		598,000,000	147,000,000	598,000,000	153,000,000		552,000,000	139,000,000		552,000,000		137,000,000		135,000,000		483,000,000	127,000,000	114,000,000	115,000,000		110,000,000	103,000,000	109,000,000	96,000,000	117,000,000	114,000,000	103,000,000	102,000,000	105,000,000	479,000,000	112,000,000	116,000,000	112,000,000	108,000,000	381,000,000	93,000,000	329,000,000	92,100,000	76,000,000
impairment of goodwill		500,000,000
operating income	742,000,000	175,000,000	752,000,000	788,000,000	682,000,000	575,000,000	664,000,000	517,000,000	582,000,000	599,000,000	669,000,000	796,000,000	762,000,000	1,052,000,000	692,000,000	658,000,000	672,000,000	547,000,000	617,000,000	634,000,000		684,000,000		2,977,000,000		785,000,000		740,000,000		2,837,000,000	762,000,000	2,837,000,000	777,000,000		2,605,000,000	719,000,000	2,605,000,000	2,605,000,000	649,000,000	649,000,000	668,000,000	668,000,000	729,000,000	2,182,000,000	616,000,000	690,000,000	640,000,000	2,353,000,000	597,000,000	617,000,000	679,000,000	629,000,000	614,000,000	490,000,000	590,000,000	552,000,000	469,000,000	1,968,000,000	525,000,000	508,000,000	542,000,000	487,000,000	1,769,000,000	479,000,000	2,066,000,000	538,000,000	498,100,000
yoy	8.80%	-69.57%	13.25%	52.42%	17.18%	-4.01%	-0.75%	-35.05%	-23.62%	-43.06%	-3.32%	20.97%	13.39%	92.32%	12.16%	3.79%		-20.03%		-78.70%		-12.87%		302.30%		-72.33%		-73.92%			-70.75%	294.58%	-70.17%		301.39%	10.79%	289.97%	289.97%	-10.97%	-70.26%	8.44%	-3.19%	13.91%	-7.27%	3.18%	11.83%	-5.74%	274.09%	-2.77%	25.92%	15.08%	13.95%	30.92%	-75.10%	12.38%	8.66%	-13.47%	304.11%	-70.32%	6.05%	-73.77%	-9.48%	255.15%
qoq	324.00%	-76.73%	-4.57%	15.54%	18.61%	-13.40%	28.43%	-11.17%	-2.84%	-10.46%	-15.95%	4.46%	-27.57%	52.02%	5.17%	-2.08%	22.85%	-11.35%	-2.68%											272.31%	-73.14%	265.12%			262.31%	-72.40%	0.00%	301.39%	0.00%	-2.84%	0.00%	-8.37%	-66.59%	254.22%	-10.72%	7.81%	-72.80%	294.14%	-3.24%	-9.13%	7.95%	2.44%	25.31%	-16.95%	6.88%	17.70%	-76.17%	274.86%	3.35%	-6.27%	11.29%	-72.47%	269.31%	-76.82%	284.01%	8.01%
operating margin %	14.64%	3.48%	14.99%	15.63%	13.92%	11.82%	12.88%	10.36%	11.80%	12.16%	13.32%	17.16%	17.43%	23.58%	16.30%	16.01%	16.71%	Infinity%	Infinity%	Infinity%	0%	Infinity%	0%	Infinity%	0%	Infinity%	0%	Infinity%	0%	Infinity%	Infinity%	Infinity%	Infinity%	0%	Infinity%	Infinity%	19.58%	Infinity%	19.28%	Infinity%	20.41%	Infinity%	22.80%	Infinity%	Infinity%	Infinity%	Infinity%	18.82%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	20.51%	18.42%	20.17%	21.40%	21.97%	20.77%
financing costs	154,000,000	373,000,000	344,000,000	479,000,000	382,000,000	394,000,000	278,000,000	352,000,000	323,000,000	320,000,000	322,000,000	34,000,000	97,000,000	192,000,000	194,000,000	203,000,000	207,000,000	190,000,000	187,000,000	202,000,000		192,000,000		733,000,000		201,000,000		189,000,000		661,000,000	168,000,000	661,000,000	196,000,000		573,000,000	156,000,000	573,000,000	573,000,000		149,000,000		142,000,000		520,000,000	129,000,000	134,000,000	123,000,000	447,000,000	106,000,000	110,000,000	117,000,000	115,000,000	102,000,000	110,000,000	109,000,000	132,000,000	86,000,000	377,000,000	92,000,000	94,000,000	104,000,000	112,000,000	532,000,000	95,000,000	463,000,000	121,200,000	114,300,000
income before income taxes	588,000,000	-198,000,000	408,000,000	309,000,000	300,000,000	181,000,000	386,000,000	165,000,000	259,000,000	279,000,000	347,000,000	762,000,000	665,000,000	860,000,000	498,000,000	455,000,000	465,000,000	357,000,000	430,000,000	432,000,000		492,000,000		2,244,000,000		584,000,000		551,000,000		2,176,000,000	594,000,000	2,176,000,000	581,000,000		2,032,000,000	563,000,000	2,032,000,000	2,032,000,000	500,000,000	500,000,000	526,000,000	526,000,000	591,000,000	1,662,000,000	487,000,000	556,000,000	517,000,000	1,906,000,000	491,000,000	507,000,000	562,000,000	514,000,000	512,000,000	380,000,000	481,000,000	420,000,000	383,000,000	1,591,000,000	433,000,000	414,000,000	438,000,000	367,000,000	1,205,000,000	379,000,000
income taxes	157,000,000	47,000,000	107,000,000	52,000,000	79,000,000	41,000,000	76,000,000	28,000,000	63,000,000	55,000,000	82,000,000	211,000,000	167,000,000	197,000,000	140,000,000	111,000,000	132,000,000	86,000,000	109,000,000	117,000,000		139,000,000		468,000,000		144,000,000		31,000,000		552,000,000	157,000,000	552,000,000	134,000,000		553,000,000	151,000,000	553,000,000	553,000,000		130,000,000		140,000,000		426,000,000	132,000,000	140,000,000	139,000,000	524,000,000	126,000,000	166,000,000	147,000,000	133,000,000	135,000,000	90,000,000	125,000,000	134,000,000	92,000,000	376,000,000	107,000,000	90,000,000	110,000,000	99,000,000	203,000,000	57,000,000	436,000,000	125,100,000	113,500,000
net income	431,000,000	-245,000,000	301,000,000	257,000,000	221,000,000	140,000,000	310,000,000	137,000,000	196,000,000	224,000,000	265,000,000	551,000,000	498,000,000	663,000,000	358,000,000	344,000,000	333,000,000	271,000,000	321,000,000	315,000,000	353,000,000	353,000,000	379,000,000	1,776,000,000	440,000,000	440,000,000	520,000,000	520,000,000	437,000,000	1,624,000,000	437,000,000	1,624,000,000	447,000,000	412,000,000	1,479,000,000	412,000,000	1,479,000,000	1,479,000,000	370,000,000	370,000,000	386,000,000	386,000,000	441,000,000	1,236,000,000	355,000,000	416,000,000	378,000,000	1,382,000,000	365,000,000	341,000,000	415,000,000	381,000,000	377,000,000	290,000,000	356,000,000	286,000,000	291,000,000	1,215,000,000	326,000,000	324,000,000	328,000,000	268,000,000	1,002,000,000	322,000,000
yoy	95.02%	-275.00%	-2.90%	87.59%	12.76%	-37.50%	16.98%	-75.14%	-60.64%	-66.21%	-25.98%	60.17%	49.55%	144.65%	11.53%	9.21%	-5.67%	-23.23%	-15.30%	-82.26%	-19.77%	-19.77%	-27.12%	241.54%	0.69%	-72.91%	18.99%	-67.98%	-2.24%	294.17%	-70.45%	294.17%	-69.78%	-72.14%	299.73%	11.35%	283.16%	283.16%	-16.10%	-70.06%	8.73%	-7.21%	16.67%	-10.56%	-2.74%	21.99%	-8.92%	262.73%	-3.18%	17.59%	16.57%	33.22%	29.55%	-76.13%	9.20%	-11.73%	-11.28%	353.36%	-67.47%	0.62%
qoq	-275.92%	-181.40%	17.12%	16.29%	57.86%	-54.84%	126.28%	-30.10%	-12.50%	-15.47%	-51.91%	10.64%	-24.89%	85.20%	4.07%	3.30%	22.88%	-15.58%	1.90%	-10.76%	0.00%	-6.86%	-78.66%	303.64%	0.00%	-15.38%	0.00%	18.99%	-73.09%	271.62%	-73.09%	263.31%	8.50%	-72.14%	258.98%	-72.14%	0.00%	299.73%	0.00%	-4.15%	0.00%	-12.47%	-64.32%	248.17%	-14.66%	10.05%	-72.65%	278.63%	7.04%	-17.83%	8.92%	1.06%	30.00%	-18.54%	24.48%	-1.72%	-76.05%	272.70%	0.62%	-1.22%	22.39%	-73.25%	211.18%
net income margin %	8.51%	-4.87%	6.00%	5.10%	4.51%	2.88%	6.01%	2.75%	3.97%	4.55%	5.28%	11.88%	11.39%	14.86%	8.43%	8.37%	8.28%	Infinity%	Infinity%	Infinity%	9.56%	Infinity%	9.82%	Infinity%	11.90%	Infinity%	14.46%	Infinity%	12.46%	Infinity%	Infinity%	Infinity%	Infinity%	12.20%	Infinity%	Infinity%	11.12%	Infinity%	10.99%	Infinity%	11.79%	Infinity%	13.79%	Infinity%	Infinity%	Infinity%	Infinity%	11.05%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	11.28%	10.43%	13.56%	0%	0%	0%
other comprehensive income
items that may subsequently be reclassified to income
change in unrealized fair value of derivatives designated as cash flow hedges	30,000,000	-3,000,000	-11,000,000	-21,000,000	-27,000,000	59,000,000	-132,000,000	30,000,000	-16,000,000	-19,000,000	-47,000,000	-156,000,000		-55,000,000	69,000,000	28,000,000	82,000,000	-127,000,000	-109,000,000			222,000,000		84,000,000		110,000,000		10,000,000					2,000,000		19,000,000			19,000,000		12,000,000		19,000,000				1,000,000			1,000,000	2,000,000			3,000,000	1,000,000	2,000,000		1,000,000	6,000,000	7,000,000		8,000,000	17,000,000	69,000,000	29,000,000		4,700,000
foreign currency translation adjustment arising from translating financial statements of foreign operations	59,000,000	-78,000,000	60,000,000	23,000,000	17,000,000	24,000,000	-2,000,000	7,000,000		31,000,000	94,000,000	35,000,000		-43,000,000	24,000,000	-42,000,000	-69,000,000	25,000,000	46,000,000			52,000,000		20,000,000		5,000,000		11,000,000			6,000,000		7,000,000		5,000,000			5,000,000						5,000,000	2,000,000	6,000,000			12,000,000		10,000,000		7,000,000	4,000,000		4,000,000	2,000,000	4,000,000	6,000,000
items never subsequently reclassified to income
change in measurement of investment financial assets	1,000,000	3,000,000	4,000,000	1,000,000	-4,000,000	1,000,000		-4,000,000	-2,000,000	-6,000,000	6,000,000		-4,000,000		4,000,000	-3,000,000	-1,000,000	10,000,000	4,000,000					12,000,000		4,000,000
employee defined benefit plan re-measurements	16,000,000	27,000,000	-1,000,000	-20,000,000	16,000,000	35,000,000	-58,000,000	60,000,000	3,000,000	-4,000,000	-152,000,000	-13,000,000	138,000,000	-246,000,000	68,000,000	103,000,000	675,000,000	-24,000,000	65,000,000			316,000,000						8,000,000		333,000,000	24,000,000	333,000,000										18,000,000			150,000,000	94,000,000					237,000,000
comprehensive income	537,000,000	-296,000,000	353,000,000	240,000,000	223,000,000	259,000,000	118,000,000	230,000,000	115,000,000	226,000,000	166,000,000	417,000,000	624,000,000	376,000,000	523,000,000	430,000,000	1,020,000,000	155,000,000	327,000,000	-461,000,000		943,000,000		1,554,000,000		557,000,000		549,000,000		1,908,000,000	418,000,000	1,908,000,000	446,000,000		1,320,000,000	358,000,000		1,320,000,000		353,000,000		425,000,000		1,221,000,000	505,000,000	514,000,000	287,000,000		223,000,000	216,000,000	655,000,000	431,000,000	545,000,000	1,043,000,000	509,000,000	198,000,000	-166,000,000	374,000,000	-21,000,000	191,000,000	376,000,000	284,000,000	1,060,000,000	352,000,000	1,102,000,000	286,400,000	255,500,000
net income attributable to:
common shares	493,000,000	7,000,000	321,000,000	280,000,000	228,000,000	127,000,000	288,000,000	136,000,000	200,000,000	217,000,000	248,000,000	514,000,000	468,000,000	644,000,000	345,000,000	335,000,000	331,000,000	260,000,000	307,000,000	290,000,000		350,000,000		1,746,000,000		433,000,000		517,000,000		1,600,000,000	428,000,000	1,600,000,000	443,000,000		1,460,000,000	410,000,000		1,460,000,000		367,000,000		379,000,000		1,223,000,000	348,000,000	416,000,000
non-controlling interests	-62,000,000	-252,000,000	-20,000,000	-23,000,000	-7,000,000	13,000,000	22,000,000	1,000,000	-4,000,000	7,000,000	17,000,000	37,000,000	30,000,000	19,000,000	13,000,000	9,000,000	2,000,000	11,000,000	14,000,000	25,000,000		3,000,000		30,000,000		7,000,000		3,000,000		24,000,000	9,000,000	24,000,000	4,000,000		19,000,000	2,000,000		19,000,000		3,000,000		7,000,000																	1,000,000	3,000,000	1,000,000	1,000,000	4,000,000	1,000,000	3,000,000	1,000,000	900,000
comprehensive income attributable to:
net income per common share
basic	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	170,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	610,000	470,000	560,000	440,000	890,000	3,760,000	1,000,000	990,000	1,010,000
diluted	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	160,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	600,000	460,000	560,000	440,000	890,000	3,740,000	1,000,000	980,000	1,000,000
total weighted-average common shares outstanding
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
		4,907,000,000			4,292,000,000				4,364,000,000				3,639,000,000			3,453,000,000
foreign currency translation adjustment arising from translating financial statements of foreign operations									-66,000,000				-21,000,000
change in unrealized fair value of derivatives designated as cash flow hedges													13,000,000
total weighted-average common shares outstanding
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
operating expenses - sum														2,591,000,000	3,559,000,000		3,352,000,000	3,513,000,000	3,364,000,000			3,010,000,000								11,531,000,000			2,997,000,000		10,699,000,000			10,699,000,000				2,605,000,000			2,622,000,000		2,468,000,000			2,485,000,000		2,322,000,000				2,274,000,000
items that may subsequently be reclassified to income - sum														23,000,000	93,000,000		13,000,000	-102,000,000	-63,000,000			274,000,000											9,000,000									21,000,000
items never subsequently reclassified to income - sum														211,500,000	72,000,000		674,000,000	-14,000,000	69,000,000			316,000,000
net income attributable to: - sum														258,750,000	358,000,000		333,000,000	271,000,000	321,000,000			353,000,000								1,624,000,000			447,000,000		1,479,000,000			1,479,000,000				386,000,000			355,000,000
comprehensive income attributable to: - sum														493,250,000	523,000,000		1,020,000,000	155,000,000	327,000,000			943,000,000								1,908,000,000			446,000,000		1,320,000,000			1,320,000,000				425,000,000			505,000,000
net income per common share*
basic	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	170,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	610,000	470,000	560,000	440,000	890,000	3,760,000	1,000,000	990,000	1,010,000
diluted	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	160,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	600,000	460,000	560,000	440,000	890,000	3,740,000	1,000,000	980,000	1,000,000
total weighted-average common shares outstanding*
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
revenues arising from contracts with customers																		2,820,000,000	3,961,000,000	3,656,000,000		3,663,000,000		14,589,000,000		3,687,000,000		3,587,000,000		14,095,000,000	3,489,000,000	14,095,000,000	3,591,000,000		13,202,000,000	3,351,000,000		13,202,000,000		3,355,000,000		3,259,000,000		12,725,000,000	3,225,000,000	3,116,000,000	3,096,000,000		3,141,000,000	3,092,000,000	3,011,000,000
other operating income																		30,750,000	20,000,000	72,000,000		31,000,000		69,000,000		10,000,000		10,000,000		273,000,000	17,000,000	273,000,000	183,000,000		102,000,000	26,000,000		102,000,000		11,000,000		14,000,000		74,000,000	13,000,000	32,000,000	12,000,000		14,000,000	10,000,000	17,000,000	13,000,000	21,000,000	20,000,000	19,000,000	16,000,000	17,000,000	72,000,000	10,000,000	10,000,000	25,000,000
operating expenses before depreciation and amortization																					2,285,000,000		2,490,000,000		2,263,000,000		2,224,000,000		2,127,000,000					2,108,000,000
ebitda																					1,409,000,000		1,368,000,000		1,434,000,000		1,373,000,000		1,379,000,000					1,269,000,000
adjusted ebitda																					1,475,000,000		1,413,000,000		1,463,000,000		1,402,000,000		1,415,000,000					1,303,000,000
adjusted net income																					400,000,000		400,000,000		458,000,000		416,000,000		453,000,000					435,000,000
net income attributable to common shares																					350,000,000		368,000,000		433,000,000		517,000,000		428,000,000					410,000,000			1,460,000,000		367,000,000		379,000,000		433,000,000
basic eps																					280,000		610,000		720,000		860,000		710,000					690,000			2.46		0.62		0.64		0.73					2.29
adjusted basic eps																					320,000		670,000		760,000		690,000		750,000					730,000
capital expenditures																					665,000,000		742,000,000		748,000,000		770,000,000		646,000,000					650,000,000
free cash flow before income taxes																					669,000,000		209,000,000		417,000,000		446,000,000		504,000,000
free cash flow																					545,000,000		135,000,000		320,000,000		324,000,000		153,000,000					443,000,000
total subscriber connections																					15,270,000,000		15,166,000,000		14,500,000,000		14,165,000,000		13,979,000,000					13,067,000,000
change in unrealized fair value of available-for-sale financial assets																																										2,000,000			2,000,000				1,000,000						5,000,000		22,000,000						1,000,000				4,600,000
item never subsequently reclassified to income
employee defined benefit plans re-measurements																																																				59,000,000	162,000,000	755,000,000	152,000,000
consolidated statements of income
earnings per share
adjusted basic eps1																																					2.63		0.66		0.68		0.74
diluted eps																																					2.46		0.62		0.64		0.73					2.29
dividends declared per common share																																					1.97		0.493		0.493		0.48
basic weighted-average common shares outstanding																																					593		594		592		591					603
other highlights
subscriber connections2																																					13,050						12,683
ebitda (earnings before interest, income taxes, depreciation and amortization)1																																					4,774		1,196		1,194		1,261
restructuring and other costs3																																					139
ebitda — excluding restructuring and other costs																																					4,913
adjusted ebitda4																																					4,891		1,232		1,230
adjusted ebitda margin5																																					36.8		36.6		37.6
free cash flow1																																					966		215		260		217
consolidated statements of cash flows
cash from operating activities																																							1,133		1,126		709
cash used by investing activities
capital expenditures2
cash used by financing activities
subscriber connections3
restructuring and other costs1																																							36		39		4
net debt to ebitda — excluding restructuring and other costs1																																											2.73
cash provided (used) by financing activities
cash from financing activities																																											475
adjusted ebitda3																																											1,265
adjusted ebitda margin4																																											39.5
non-controlling interest																																												13,000,000	7,000,000
item never subsequently reclassified to income - sum																																													150,000,000
adjusted basic eps 1																																																2.58
total weighted average common shares outstanding
basic																																																		605,000,000
diluted																																																		606,000,000
operating revenues - sum																																																				2,938,000,000				2,810,000,000
net income per equity share
basic	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	170,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	610,000	470,000	560,000	440,000	890,000	3,760,000	1,000,000	990,000	1,010,000
diluted	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	160,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	600,000	460,000	560,000	440,000	890,000	3,740,000	1,000,000	980,000	1,000,000
dividends declared per equity share																																																				380,000	360,000
total weighted-average equity shares outstanding
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
net income per equity share*
basic	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	170,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	610,000	470,000	560,000	440,000	890,000	3,760,000	1,000,000	990,000	1,010,000
diluted	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	160,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	600,000	460,000	560,000	440,000	890,000	3,740,000	1,000,000	980,000	1,000,000
dividends declared per equity share*																																																						360,000	340,000	340,000
total weighted-average equity shares outstanding*
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
employee defined benefit plans actuarial gains																																																													44,000,000
common shares and non-voting shares																																																									291,000,000	1,219,000,000	325,000,000	321,000,000	327,000,000	267,000,000	998,000,000	321,000,000
total comprehensive income attributable to:
net income per common share and non-voting share
basic	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	170,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	610,000	470,000	560,000	440,000	890,000	3,760,000	1,000,000	990,000	1,010,000
diluted	320,000		210,000	190,000	150,000	90,000	200,000	90,000	140,000	150,000	160,000	370,000	340,000	470,000	250,000	250,000	250,000	200,000	240,000	230,000		280,000		2,900,000		720,000		860,000		2,680,000	710,000	2,680,000	740,000		2,460,000	690,000		2,460,000		620,000		640,000		2,060,000	590,000	700,000	640,000		610,000	560,000	680,000	620,000	600,000	460,000	560,000	440,000	890,000	3,740,000	1,000,000	980,000	1,000,000
dividends declared per common share and non-voting share																																																									640,000	2,205,000	550,000	550,000	525,000	475,000	1,900,000	475,000	1,825,000	450,000	450,000
total weighted-average common shares and non-voting shares outstanding
basic	1,535,000,000	1,525,000,000	1,514,000,000	1,492,000,000	1,482,000,000	1,476,000,000	1,451,000,000	1,454,000,000	1,447,000,000	1,439,000,000	1,396,000,000	1,398,000,000	1,381,000,000	1,346,000,000	1,361,000,000	1,355,000,000	1,298,000,000	1,275,000,000	1,284,000,000	1,278,000,000		1,248,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	597,000,000		593,000,000	595,000,000		593,000,000		594,000,000		592,000,000		592,000,000	592,000,000	593,000,000	593,000,000		601,000,000		608,000,000	617,000,000	622,000,000	623,000,000	633,000,000	652,000,000	326,000,000	324,000,000	325,000,000	324,000,000	324,000,000
diluted	1,543,000,000	1,530,000,000	1,516,000,000	1,497,000,000	1,486,000,000	1,478,000,000	1,457,000,000	1,459,000,000	1,452,000,000	1,440,000,000	1,403,000,000	1,405,000,000	1,387,000,000	1,351,000,000	1,366,000,000	1,359,000,000	1,301,000,000	1,278,000,000	1,288,000,000	1,280,000,000		1,252,000,000		602,000,000		602,000,000		601,000,000		597,000,000	600,000,000	597,000,000	598,000,000		593,000,000	595,000,000		593,000,000		594,000,000		593,000,000		593,000,000	592,000,000	594,000,000	594,000,000		603,000,000		610,000,000	619,000,000	624,000,000	626,000,000	635,000,000	656,000,000	328,000,000	326,000,000	327,000,000	326,000,000	326,000,000
operations																																																														1,429,000,000	5,925,000,000	1,441,000,000	5,815,000,000	1,465,400,000	1,476,600,000
restructuring costs																																																														6,000,000	190,000,000	28,000,000	59,000,000	9,800,000	4,500,000
other expense																																																														8,000,000	32,000,000	5,000,000	36,000,000	5,600,000	2,400,000
foreign currency translation adjustment arising from translating financial statements of self-sustaining foreign operations																																																																1,000,000	2,000,000	2,200,000
net income per common share and non-voting share
– basic																																																														840,000		1,010,000	3,520,000	890,000	830,000
– diluted																																																														840,000		1,010,000	3,510,000	890,000	830,000
total weighted-average common shares and non-voting shares outstanding
— basic																																																															3,140,000
— diluted																																																															3,140,000
income before income taxes and non-controlling interest																																																																	1,567,000,000	411,200,000	381,400,000
net income and common share and non-voting share income																																																																	1,128,000,000	285,100,000	267,000,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2021-12-31	2021-09-30	2021-03-31	2020-12-31	2020-09-30	2020-03-31	2019-12-31	2019-09-30	2019-04-05	2019-03-31	2018-12-31	2018-09-30	2018-08-30	2018-04-06	2018-03-31	2018-02-08	2017-12-31	2017-11-09	2017-09-30	2017-06-30	2017-05-11	2017-03-31	2017-02-09	2016-11-04	2016-08-05	2016-05-05	2016-02-11	2015-11-05	2015-08-07	2015-05-07	2014-08-07	2014-05-08	2014-02-13	2013-11-08	2013-08-08	2013-02-15	2012-02-23	2011-11-04	2011-08-05	2011-05-05	2010-05-05	2010-02-25	2009-05-07	2008-12-31	2008-11-07	2008-08-08

assets
current assets
cash and temporary investments	1,827,000,000	3,682,000,000	1,014,000,000	814,000,000	927,000,000	2,164,000,000	864,000,000	1,204,000,000	649,000,000	877,000,000	974,000,000	1,440,000,000	723,000,000	1,864,000,000	1,903,000,000	848,000,000	621,000,000	1,058,000,000	535,000,000	370,000,000	414,000,000	588,000,000	414,000,000	433,000,000	433,000,000	509,000,000	415,000,000	509,000,000	509,000,000		488,000,000	371,000,000		794,000,000	432,000,000	410,000,000	428,000,000	478,000,000	223,000,000	141,000,000	77,000,000	1,579,000,000	57,000,000	52,000,000	336,000,000	32,000,000	272,000,000	107,000,000	46,000,000	56,000,000	21,000,000	23,000,000	46,000,000	41,000,000	65,000,000	4,000,000	35,900,000	45,700,000
accounts receivable	3,644,000,000	3,502,000,000	3,498,000,000	3,554,000,000	3,499,000,000	3,432,000,000	3,597,000,000	3,363,000,000	3,238,000,000	3,209,000,000	3,297,000,000	3,145,000,000	2,671,000,000	2,578,000,000	2,271,000,000	2,355,000,000	2,172,000,000	2,002,000,000	1,962,000,000	1,835,000,000	1,600,000,000	1,645,000,000	1,600,000,000	1,651,000,000	1,651,000,000	1,623,000,000	1,449,000,000	1,623,000,000	1,623,000,000		1,539,000,000	1,408,000,000		1,408,000,000	1,471,000,000	1,422,000,000	1,317,000,000	1,361,000,000	1,428,000,000	1,430,000,000	1,336,000,000	1,388,000,000	1,360,000,000	1,426,000,000	1,461,000,000	1,392,000,000	1,447,000,000	1,541,000,000	1,428,000,000	1,343,000,000	1,379,000,000	1,292,000,000	737,000,000	694,000,000	842,000,000	966,000,000	954,200,000	1,007,400,000
income and other taxes receivable	74,000,000	225,000,000	224,000,000	55,000,000	129,000,000	178,000,000	205,000,000	163,000,000	171,000,000	135,000,000	143,000,000	80,000,000	206,000,000	136,000,000	206,000,000	148,000,000	154,000,000	32,000,000	127,000,000	123,000,000	3,000,000	48,000,000	3,000,000	6,000,000	6,000,000	96,000,000	15,000,000	96,000,000	96,000,000		54,000,000	95,000,000		105,000,000	9,000,000	85,000,000	21,000,000	8,000,000	1,000,000	17,000,000	30,000,000	19,000,000	61,000,000	41,000,000	32,000,000	22,000,000	32,000,000	25,000,000	66,000,000	181,000,000	158,000,000	61,000,000	31,000,000	16,000,000	28,000,000	25,000,000	69,000,000	80,400,000
inventories	455,000,000	485,000,000	566,000,000	492,000,000	530,000,000	539,000,000	484,000,000	550,000,000	580,000,000	584,000,000	537,000,000	499,000,000	448,000,000	332,000,000	421,000,000	407,000,000	350,000,000	368,000,000	437,000,000	367,000,000	376,000,000	359,000,000	376,000,000	338,000,000	338,000,000	378,000,000	347,000,000	378,000,000	378,000,000		356,000,000	321,000,000		327,000,000	318,000,000	262,000,000	351,000,000	341,000,000	360,000,000	407,000,000	365,000,000	315,000,000	287,000,000	300,000,000	326,000,000	318,000,000	322,000,000	350,000,000	353,000,000	364,000,000	320,000,000	338,000,000	206,000,000	270,000,000	264,000,000	333,000,000	276,000,000	262,500,000
contract assets	445,000,000	453,000,000	469,000,000	413,000,000	422,000,000	434,000,000	445,000,000	423,000,000	427,000,000	437,000,000	441,000,000	403,000,000	443,000,000	417,000,000	420,000,000	439,000,000	480,000,000	652,000,000	737,000,000	795,000,000	860,000,000	862,000,000	860,000,000	785,000,000	785,000,000		757,000,000
costs incurred to obtain or fulfill contracts with customers	395,000,000	387,000,000	383,000,000
prepaid maintenance and other	511,000,000	578,000,000
current derivative assets	37,000,000	12,000,000	61,000,000	17,000,000	35,000,000	34,000,000	36,000,000	65,000,000	55,000,000	71,000,000	83,000,000	155,000,000	13,000,000	15,000,000	1,000,000	2,000,000	5,000,000	60,000,000	8,000,000	7,000,000	49,000,000	27,000,000	49,000,000	21,000,000	21,000,000	18,000,000	26,000,000	18,000,000	18,000,000		5,000,000	1,000,000		11,000,000	11,000,000	11,000,000	11,000,000	7,000,000	40,000,000	40,000,000	21,000,000	22,000,000	12,000,000	16,000,000	6,000,000
non-current assets
property, plant and equipment	17,673,000,000	17,555,000,000	17,344,000,000	17,210,000,000	17,226,000,000	17,177,000,000	17,248,000,000	17,372,000,000	17,297,000,000	17,113,000,000	17,084,000,000	16,877,000,000	15,926,000,000	15,887,000,000	15,041,000,000	15,014,000,000	14,834,000,000	14,384,000,000	14,232,000,000	13,767,000,000	12,091,000,000	13,321,000,000	12,091,000,000	11,935,000,000	11,935,000,000	11,368,000,000	11,482,000,000	11,368,000,000	11,368,000,000	11,184,000,000	11,184,000,000	10,902,000,000	10,637,000,000	10,637,000,000	10,464,000,000	10,297,000,000	10,043,000,000	9,800,000,000	9,736,000,000	9,592,000,000	9,455,000,000	9,282,000,000	8,673,000,000	8,496,000,000	8,428,000,000	8,355,000,000	8,263,000,000	8,165,000,000	7,964,000,000	7,889,000,000	7,834,000,000	7,813,000,000
intangible assets	20,460,000,000	20,523,000,000	20,421,000,000	20,526,000,000	20,598,000,000	19,670,000,000	19,721,000,000	19,813,000,000	19,871,000,000	20,036,000,000	19,178,000,000	19,216,000,000	17,485,000,000	15,555,000,000	15,261,000,000	15,026,000,000	14,021,000,000	13,461,000,000	12,812,000,000	12,417,000,000	10,956,000,000	11,015,000,000	10,956,000,000	10,886,000,000	10,886,000,000	10,658,000,000	10,754,000,000	10,658,000,000	10,658,000,000	10,651,000,000	10,651,000,000	10,612,000,000	10,392,000,000	10,392,000,000	10,364,000,000	10,292,000,000	10,250,000,000	10,047,000,000	9,985,000,000	9,873,000,000	9,839,000,000	7,818,000,000	7,720,000,000	6,546,000,000	6,531,000,000	6,268,000,000	6,185,000,000	6,181,000,000	6,153,000,000	6,147,000,000	6,156,000,000	6,172,000,000	5,096,000,000	5,148,000,000
goodwill	10,477,000,000	10,440,000,000	10,639,000,000	10,323,000,000	10,273,000,000	10,175,000,000	10,058,000,000	10,053,000,000	10,015,000,000	10,058,000,000	9,169,000,000	9,038,000,000	7,281,000,000	7,416,000,000	7,216,000,000	7,235,000,000	6,514,000,000	6,289,000,000	5,331,000,000	4,947,000,000	4,733,000,000	4,877,000,000	4,733,000,000	4,713,000,000	4,713,000,000	4,217,000,000	4,569,000,000	4,217,000,000	4,217,000,000	4,215,000,000	4,215,000,000	4,121,000,000	3,792,000,000	3,792,000,000	3,787,000,000	3,776,000,000	3,761,000,000	3,761,000,000	3,761,000,000	3,761,000,000	3,761,000,000	3,761,000,000	3,752,000,000	3,750,000,000	3,737,000,000	3,726,000,000	3,725,000,000	3,702,000,000	3,661,000,000	3,675,000,000	3,666,000,000	3,666,000,000	3,572,000,000	3,572,000,000	3,564,000,000	3,564,000,000	3,543,800,000	3,540,400,000
other long-term assets	2,608,000,000	2,513,000,000	2,553,000,000	2,526,000,000	2,519,000,000	2,575,000,000	2,493,000,000	2,399,000,000	2,276,000,000	2,203,000,000	2,203,000,000	2,395,000,000	2,004,000,000	2,110,000,000	1,725,000,000	1,106,000,000	1,237,000,000	1,903,000,000	919,000,000	1,131,000,000	986,000,000	911,000,000	986,000,000	613,000,000	613,000,000	421,000,000	480,000,000	421,000,000	421,000,000	715,000,000	715,000,000	766,000,000	742,000,000	742,000,000	640,000,000	830,000,000	630,000,000	515,000,000	593,000,000	262,000,000	269,000,000	312,000,000	853,000,000	763,000,000	530,000,000	215,000,000	184,000,000	118,000,000	81,000,000	83,000,000	342,000,000	450,000,000	1,642,000,000	1,602,000,000	1,461,000,000
liabilities and owners’ equity
current liabilities
short-term borrowings	922,000,000	922,000,000	1,325,000,000	925,000,000	1,044,000,000	104,000,000	104,000,000	104,000,000	594,000,000	593,000,000	104,000,000	104,000,000	114,000,000	102,000,000	100,000,000	100,000,000	115,000,000	100,000,000	100,000,000	101,000,000	100,000,000	500,000,000	100,000,000	112,000,000	112,000,000	100,000,000	100,000,000	100,000,000	100,000,000		100,000,000	100,000,000		100,000,000	100,000,000	100,000,000	103,000,000	100,000,000	100,000,000	101,000,000	500,000,000	100,000,000	105,000,000	100,000,000	400,000,000	409,000,000	401,000,000	402,000,000	404,000,000	439,000,000	404,000,000	422,000,000
accounts payable and accrued liabilities	3,556,000,000	3,383,000,000	3,314,000,000	3,419,000,000	3,309,000,000	3,086,000,000	3,391,000,000	3,401,000,000	3,249,000,000	3,198,000,000	3,947,000,000	3,952,000,000	3,705,000,000	3,616,000,000	2,817,000,000	2,962,000,000	3,092,000,000	2,558,000,000	2,749,000,000	2,844,000,000	2,570,000,000	2,416,000,000	2,570,000,000	2,493,000,000	2,493,000,000	2,460,000,000	2,054,000,000	2,460,000,000	2,460,000,000		2,447,000,000	2,222,000,000		2,084,000,000	2,330,000,000	2,181,000,000	1,983,000,000	1,823,000,000	1,990,000,000	2,100,000,000	1,960,000,000	1,934,000,000	1,740,000,000	1,634,000,000	1,735,000,000	1,630,000,000	1,711,000,000	1,511,000,000	1,419,000,000	1,405,000,000	1,349,000,000	1,469,000,000	1,388,000,000	1,385,000,000	1,410,000,000	1,465,000,000	1,470,200,000	1,384,700,000
income and other taxes payable	153,000,000	141,000,000	167,000,000	156,000,000	146,000,000	143,000,000	126,000,000	145,000,000	120,000,000	131,000,000	112,000,000	137,000,000	104,000,000	117,000,000	113,000,000	135,000,000	113,000,000	102,000,000	55,000,000	53,000,000	218,000,000	47,000,000	218,000,000	200,000,000	200,000,000	34,000,000	38,000,000	34,000,000	34,000,000		43,000,000	38,000,000		41,000,000	37,000,000	37,000,000	28,000,000	9,000,000	108,000,000	11,000,000	3,000,000	27,000,000	4,000,000	3,000,000	102,000,000	231,000,000	315,000,000	102,000,000	25,000,000	15,000,000	17,000,000	18,000,000	6,000,000	182,000,000	12,000,000	163,000,000	12,500,000	11,800,000
dividends payable	639,000,000	634,000,000	610,000,000	578,000,000	577,000,000	554,000,000	550,000,000	529,000,000	526,000,000	506,000,000	502,000,000	480,000,000	449,000,000	430,000,000	404,000,000	403,000,000	374,000,000	371,000,000	352,000,000	338,000,000	326,000,000	329,000,000	326,000,000	313,000,000	313,000,000	299,000,000	299,000,000	299,000,000	299,000,000		292,000,000	293,000,000		283,000,000	284,000,000	272,000,000	274,000,000	261,000,000	263,000,000	252,000,000	253,000,000	243,000,000	234,000,000	224,000,000	222,000,000	213,000,000	222,000,000	208,000,000	188,000,000	179,000,000	178,000,000	170,000,000	152,000,000	150,000,000	151,000,000	151,000,000	143,600,000
advance billings and customer deposits	977,000,000	1,021,000,000	1,027,000,000	950,000,000	1,024,000,000	1,000,000,000	971,000,000	937,000,000	942,000,000	929,000,000	891,000,000	872,000,000	854,000,000	796,000,000	770,000,000	772,000,000	733,000,000	695,000,000	675,000,000	649,000,000	653,000,000	667,000,000	653,000,000	615,000,000	615,000,000	782,000,000	624,000,000	782,000,000	782,000,000		769,000,000	785,000,000		775,000,000	737,000,000	747,000,000	749,000,000	758,000,000	760,000,000	753,000,000	739,000,000	743,000,000	739,000,000	745,000,000	729,000,000	698,000,000	713,000,000	703,000,000	655,000,000	642,000,000	634,000,000	634,000,000	687,000,000	674,000,000	660,000,000	689,000,000	643,300,000	634,700,000
provisions	293,000,000	244,000,000	260,000,000	235,000,000	243,000,000	274,000,000	317,000,000	345,000,000	240,000,000	208,000,000	166,000,000	114,000,000	96,000,000	81,000,000	85,000,000	73,000,000	75,000,000	243,000,000	288,000,000	93,000,000	129,000,000	79,000,000	129,000,000	122,000,000	122,000,000	78,000,000	69,000,000	78,000,000	78,000,000	473,000,000	66,000,000	69,000,000	399,000,000	73,000,000	124,000,000	170,000,000	170,000,000	173,000,000	197,000,000	133,000,000	156,000,000	115,000,000	73,000,000	85,000,000	110,000,000	48,000,000	54,000,000	49,000,000	88,000,000	74,000,000	110,000,000	107,000,000
current maturities of long-term debt	3,200,000,000	4,465,000,000	3,776,000,000	2,613,000,000	3,334,000,000	4,916,000,000	3,994,000,000	4,376,000,000	3,716,000,000	2,511,000,000	2,541,000,000	4,212,000,000	2,927,000,000	2,283,000,000	2,587,000,000	1,432,000,000	1,055,000,000	1,224,000,000	1,332,000,000	1,056,000,000	836,000,000	1,341,000,000	836,000,000	787,000,000	787,000,000	1,404,000,000	852,000,000	1,404,000,000	1,404,000,000		1,357,000,000	1,297,000,000		1,386,000,000	1,327,000,000	850,000,000	1,688,000,000	2,189,000,000	856,000,000	1,512,000,000	725,000,000	644,000,000	1,197,000,000	626,000,000		205,000,000		545,000,000	1,066,000,000	1,062,000,000	1,284,000,000	1,277,000,000	82,000,000	82,000,000	3,000,000	4,000,000	4,600,000	6,500,000
current derivative liabilities	13,000,000	79,000,000	9,000,000	15,000,000	7,000,000	3,000,000	25,000,000	4,000,000	39,000,000	8,000,000	18,000,000	13,000,000	24,000,000	13,000,000	34,000,000	32,000,000	12,000,000	6,000,000	23,000,000	2,000,000	9,000,000	19,000,000	9,000,000	8,000,000	8,000,000	33,000,000	6,000,000	33,000,000	33,000,000		30,000,000	35,000,000		10,000,000	12,000,000	12,000,000	20,000,000	35,000,000	2,000,000	1,000,000			6,000,000	1,000,000	1,000,000	1,000,000	2,000,000
non-current liabilities
long-term debt	25,789,000,000	27,729,000,000	24,948,000,000	25,387,000,000	24,817,000,000	24,450,000,000	23,355,000,000	23,457,000,000	22,872,000,000	24,055,000,000	22,496,000,000	20,927,000,000	17,925,000,000	18,250,000,000	17,185,000,000	18,856,000,000	17,834,000,000	17,884,000,000	17,142,000,000	16,140,000,000	13,265,000,000	14,434,000,000	13,265,000,000	13,096,000,000	13,096,000,000	12,256,000,000	13,138,000,000	12,256,000,000	12,256,000,000	12,261,000,000	12,261,000,000	12,247,000,000	12,291,000,000	12,291,000,000	11,604,000,000	11,604,000,000	10,834,000,000	10,487,000,000	11,182,000,000	10,200,000,000	10,598,000,000	10,795,000,000	7,988,000,000	7,494,000,000	7,493,000,000	6,699,000,000	6,698,000,000	5,711,000,000	5,508,000,000	5,506,000,000	5,503,000,000	4,910,000,000	6,072,000,000	6,090,000,000	6,509,000,000	6,348,000,000	6,033,400,000	5,512,300,000
other long-term liabilities	933,000,000	995,000,000	913,000,000	865,000,000	752,000,000	745,000,000	867,000,000	623,000,000	722,000,000	647,000,000	636,000,000	586,000,000	907,000,000	771,000,000	831,000,000	1,265,000,000	1,096,000,000	715,000,000	806,000,000	670,000,000	738,000,000	706,000,000	738,000,000	934,000,000	934,000,000	847,000,000	873,000,000	847,000,000	847,000,000	827,000,000	827,000,000	764,000,000	744,000,000	744,000,000	736,000,000	731,000,000	709,000,000	710,000,000	688,000,000	1,081,000,000	862,000,000	707,000,000	609,000,000	616,000,000	649,000,000	1,345,000,000	1,502,000,000	1,682,000,000	1,343,000,000	793,000,000	567,000,000	555,000,000	1,281,000,000	1,271,000,000	1,190,000,000	1,295,000,000	1,588,000,000	1,680,700,000
deferred income taxes	4,137,000,000	4,293,000,000	4,241,000,000	4,180,000,000	4,279,000,000	4,345,000,000	4,390,000,000	4,351,000,000	4,414,000,000	4,465,000,000	4,437,000,000	4,523,000,000	4,056,000,000	4,170,000,000	4,002,000,000	3,776,000,000	3,583,000,000	3,529,000,000	3,204,000,000	3,214,000,000	3,152,000,000	3,130,000,000	3,152,000,000	2,980,000,000	2,980,000,000	2,500,000,000	2,926,000,000	2,500,000,000	2,500,000,000	2,404,000,000	2,404,000,000	2,347,000,000	2,223,000,000	2,223,000,000	2,107,000,000	2,263,000,000	2,155,000,000	2,093,000,000	2,155,000,000	1,988,000,000	2,012,000,000	1,944,000,000	2,026,000,000	1,973,000,000	1,891,000,000	1,620,000,000	1,449,000,000	1,624,000,000	1,600,000,000	1,793,000,000	1,831,000,000	1,746,000,000
liabilities	41,341,000,000	44,526,000,000	41,199,000,000	40,059,000,000	40,266,000,000	40,375,000,000	38,834,000,000	38,954,000,000	38,098,000,000	37,956,000,000	36,388,000,000	36,443,000,000	31,935,000,000	31,588,000,000	29,872,000,000	30,730,000,000	28,716,000,000	28,026,000,000	27,316,000,000	25,872,000,000	22,724,000,000	24,352,000,000	22,724,000,000	22,380,000,000	22,380,000,000	21,285,000,000	21,705,000,000	21,285,000,000	21,285,000,000		21,069,000,000	20,603,000,000		20,409,000,000	19,793,000,000	19,399,000,000	19,131,000,000	19,059,000,000	18,734,000,000	18,516,000,000	18,164,000,000	17,603,000,000	14,940,000,000	13,724,000,000	13,551,000,000	13,326,000,000	13,293,000,000	12,759,000,000	12,418,000,000	12,103,000,000	12,067,000,000	11,934,000,000
owners’ equity
common equity	15,873,000,000	15,220,000,000	15,607,000,000	15,771,000,000	15,809,000,000	16,008,000,000	16,112,000,000	16,317,000,000	16,407,000,000	16,607,000,000	16,569,000,000	16,780,000,000	15,116,000,000	15,014,000,000	14,556,000,000	12,074,000,000	12,136,000,000	12,768,000,000	10,548,000,000	10,754,000,000	10,259,000,000	10,278,000,000	10,259,000,000	9,924,000,000	9,924,000,000	8,221,000,000	9,508,000,000	8,221,000,000	8,221,000,000	8,458,000,000	8,458,000,000	8,373,000,000	8,122,000,000	8,122,000,000	7,917,000,000	8,281,000,000	8,073,000,000	7,658,000,000	7,672,000,000	7,420,000,000	7,534,000,000	7,678,000,000	8,160,000,000	8,176,000,000	8,015,000,000	7,267,000,000	7,471,000,000
non-controlling interests	1,649,000,000	882,000,000	1,179,000,000	1,156,000,000	1,236,000,000	1,225,000,000	1,190,000,000	1,189,000,000	1,172,000,000	1,224,000,000	1,089,000,000	1,040,000,000	943,000,000	924,000,000	906,000,000	528,000,000	357,000,000	274,000,000	111,000,000	101,000,000	82,000,000	86,000,000	82,000,000	80,000,000	80,000,000	42,000,000	72,000,000	42,000,000	42,000,000	39,000,000	39,000,000	37,000,000	30,000,000	30,000,000																21,000,000	26,000,000	79,000,000	21,000,000	21,000,000	24,000,000	23,000,000	21,900,000	22,000,000
contingent liabilities
		9,324,000,000			6,416,000,000				5,928,000,000
prepaid expenses			509,000,000	779,000,000	874,000,000	818,000,000	682,000,000	775,000,000	808,000,000	758,000,000	617,000,000	780,000,000	528,000,000	581,000,000	616,000,000	484,000,000	588,000,000	596,000,000	547,000,000	618,000,000	539,000,000	626,000,000	539,000,000	619,000,000	619,000,000	260,000,000	614,000,000	260,000,000	260,000,000		359,000,000	416,000,000		353,000,000	233,000,000	307,000,000	359,000,000	325,000,000	213,000,000	331,000,000	381,000,000	334,000,000	312,000,000	269,000,000	168,000,000	241,000,000	305,000,000	178,000,000	144,000,000	200,000,000	247,000,000	208,000,000	173,000,000	105,000,000
3800 mhz spectrum licences deposits						124,000,000
approved by the directors:
/s/ “david l. mowat”
david l. mowat
director
3500 mhz spectrum licences deposits														389,000,000
3
current assets - sum																		4,768,000,000			3,841,000,000				3,853,000,000	2,884,000,000		2,884,000,000	2,884,000,000			2,612,000,000				2,497,000,000		2,594,000,000			2,350,000,000		2,089,000,000				2,396,000,000
non-current assets - sum																		36,300,000,000			29,224,000,000				28,531,000,000	26,664,000,000		26,664,000,000	26,664,000,000			26,401,000,000				25,195,000,000		24,123,000,000			23,348,000,000		21,011,000,000				18,368,000,000
current liabilities - sum																		5,299,000,000			4,841,000,000				4,650,000,000	5,190,000,000		5,190,000,000	5,190,000,000			4,839,000,000				4,369,000,000		5,348,000,000			4,336,000,000		4,098,000,000				3,418,000,000
non-current liabilities - sum																		22,727,000,000			17,883,000,000				17,730,000,000	16,095,000,000		16,095,000,000	16,095,000,000			15,764,000,000				15,030,000,000		13,711,000,000			13,828,000,000		10,842,000,000				9,875,000,000
owners’ equity - sum																		13,042,000,000			10,341,000,000				10,004,000,000	8,263,000,000		8,263,000,000	8,263,000,000			8,410,000,000				8,293,000,000
cash from operating activities																														1,133,000,000			709,000,000
cash used by investing activities
cash used by financing activities
increase in cash and temporary investments																														117,000,000			362,000,000
cash and temporary investments, net, beginning of period																														371,000,000			432,000,000
cash and temporary investments, net, end of period																														488,000,000			794,000,000
three-month periods ended march 31																																	2,017,000,000
cash from financing activities																																	475,000,000
real estate joint venture advances																																					41,000,000	74,000,000	66,000,000	57,000,000	140,000,000	127,000,000
non-controlling interest																																			19,000,000	12,000,000	8,000,000
commitments and contingent liabilities
real estate joint ventures																																								25,000,000	24,000,000	22,000,000	13,000,000	12,000,000	11,000,000	11,000,000	11,000,000
aws-3 spectrum licences deposits																																										302,000,000
700 mhz spectrum licences deposits																																												229,000,000
derivative assets																																														13,000,000	18,000,000	9,000,000	14,000,000	21,000,000	8,000,000	9,000,000	2,000,000	1,000,000	8,000,000	10,000,000	8,600,000	5,100,000
real estate joint venture																																																11,000,000
investments																																																58,000,000	21,000,000	22,000,000	21,000,000	21,000,000	40,000,000	41,000,000	43,000,000	42,000,000	21,000,000	32,400,000
common share and non-voting share equity																																																7,686,000,000	7,513,000,000	7,857,000,000	8,059,000,000	8,040,000,000	7,709,000,000	7,554,000,000	7,290,000,000
current portion of derivative liabilities																																																		2,000,000	5,000,000	423,000,000	48,000,000	62,000,000	78,000,000	75,000,000	61,500,000	50,000,000
property, plant, equipment and other																																																					7,637,000,000	7,729,000,000	7,375,000,000	7,317,000,000	7,171,200,000	7,124,000,000
restructuring accounts payable and accrued liabilities																																																					86,000,000	135,000,000	50,000,000	51,000,000	20,800,000	30,200,000
current portion of future income taxes																																																					288,000,000	294,000,000	419,000,000	459,000,000	725,600,000	638,300,000
future income taxes																																																					1,362,000,000	1,319,000,000	1,255,000,000	1,255,000,000	1,128,800,000	1,100,800,000
total liabilities																																																					11,452,000,000	11,644,000,000
prepaid expenses and other																																																							240,000,000	220,000,000	238,900,000	295,000,000
capital assets
intangible assets subject to amortization																																																							1,312,000,000	1,317,000,000	1,280,600,000	1,288,900,000
intangible assets with indefinite lives																																																							3,849,000,000	3,849,000,000	2,966,500,000	2,966,500,000
other assets
liabilities and shareholders’ equity
shareholders’ equity																																																								7,182,000,000	7,066,300,000	6,994,400,000
short-term investments
deferred charges																																																								1,513,000,000	1,473,200,000	1,418,100,000
payment for advanced wireless services spectrum licences																																																									881,600,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-06-30	2024-03-31	2023-12-31	2023-06-30	2023-03-31	2021-12-31	2021-03-31	2020-12-31	2020-03-31	2019-12-31	2018-12-31	2018-02-08	2017-06-30	2017-02-09	2016-08-05	2016-05-05	2016-02-11	2015-08-07	2015-05-07	2014-08-07	2014-05-08	2014-02-13	2013-08-08	2013-02-15	2012-02-23	2011-08-05	2011-05-05	2010-05-05	2009-05-07	2008-12-31	2008-08-08

operating activities
net income	-245,000,000	301,000,000	320,000,000	221,000,000	140,000,000	730,000,000	196,000,000	224,000,000	1,340,000,000	333,000,000	939,000,000	353,000,000	1,336,000,000	1,177,000,000	282,000,000	386,000,000	881,000,000	416,000,000	378,000,000	261,000,000	341,000,000	415,000,000	381,000,000	377,000,000	290,000,000	286,000,000	291,000,000	889,000,000	324,000,000	328,000,000	268,000,000	322,000,000	842,900,000	267,000,000
adjustments to reconcile net income to cash from operating activities:
depreciation and amortization	1,004,000,000	992,000,000		994,000,000	1,063,000,000	3,069,000,000	1,006,000,000	1,022,000,000	2,412,000,000	789,000,000	2,239,000,000	725,000,000	1,928,000,000	1,695,000,000	564,000,000	526,000,000	1,532,000,000	499,000,000	500,000,000	518,000,000	464,000,000	456,000,000	444,000,000	463,000,000	461,000,000	446,000,000	478,000,000	1,367,000,000	442,000,000	444,000,000	453,000,000	427,000,000	1,276,900,000	419,500,000
impairment of goodwill	500,000,000
deferred income taxes	-83,000,000	-6,000,000		-70,000,000	-98,000,000	-42,000,000	-36,000,000	-93,000,000	41,000,000	3,000,000	-16,000,000		53,000,000		187,000,000	93,000,000		32,000,000			119,000,000		32,000,000	19,000,000	98,000,000	121,000,000	167,000,000	121,000,000	129,000,000	44,000,000
share-based compensation expense	37,000,000	42,000,000		39,000,000	27,000,000	90,000,000		43,000,000	103,000,000	35,000,000	2,000,000	23,000,000		-28,000,000		23,000,000		22,000,000	16,000,000		25,000,000		23,000,000	16,000,000
net employee defined benefit plans expense	14,000,000	15,000,000		17,000,000	17,000,000	57,000,000	16,000,000	15,000,000	83,000,000	26,000,000	77,000,000	27,000,000	58,000,000	71,000,000	21,000,000	20,000,000	70,000,000	22,000,000	22,000,000	37,000,000	26,000,000	28,000,000	22,000,000	22,000,000	27,000,000	28,000,000					7,000,000	4,000,000
employer contributions to employee defined benefit plans	-5,000,000	-5,000,000		-6,000,000	-8,000,000	-21,000,000	-7,000,000	-9,000,000	-43,000,000	-16,000,000	-41,000,000
gain on contributions of real estate to joint ventures		-8,000,000
loss from equity accounted investments	-2,000,000			5,000,000	5,000,000					4,000,000		8,000,000
gain on purchase of long-term debt
other	-23,000,000	-11,000,000		-31,000,000	-16,000,000	-115,000,000	-79,000,000	2,000,000		-17,000,000	-24,000,000	33,000,000				24,000,000	21,000,000		4,000,000	4,000,000	18,000,000				7,000,000	3,000,000	2,000,000			4,000,000	1,000,000
net change in non-cash operating working capital	-31,000,000	-243,000,000		219,000,000	-213,000,000	-510,000,000	-28,000,000	-466,000,000	-218,000,000	-210,000,000	464,000,000	60,000,000		173,000,000	20,000,000	67,000,000				206,000,000
cash from operating activities	1,166,000,000	1,077,000,000	1,077,000,000	1,388,000,000		3,192,000,000	1,117,000,000	761,000,000	3,066,000,000		3,672,000,000	1,177,000,000	2,779,000,000	2,992,000,000	979,000,000	1,126,000,000	2,187,000,000	892,000,000	563,000,000	863,000,000	943,000,000	718,000,000	855,000,000	598,000,000	726,000,000	707,000,000	703,000,000	1,678,000,000	533,000,000	393,000,000	414,000,000	614,000,000
investing activities
cash payments for capital assets, excluding spectrum licences	-598,000,000	-654,000,000		-666,000,000	-812,000,000	-2,437,000,000	-777,000,000	-976,000,000	-2,381,000,000	-750,000,000	-2,156,000,000
cash payments for spectrum licences				-496,000,000		-5,000,000	-5,000,000			-251,000,000
cash payments for acquisitions	-450,000,000	-11,000,000		-78,000,000	-89,000,000	-1,278,000,000		-1,262,000,000	-157,000,000	-137,000,000	-2,656,000,000
advances to, and investment in, real estate joint ventures and associates				-2,000,000	-3,000,000	-119,000,000	-112,000,000	-5,000,000	-34,000,000	-15,000,000
real estate joint venture receipts		1,000,000		1,000,000	2,000,000	9,000,000	2,000,000	2,000,000	3,000,000	1,000,000	4,000,000	2,000,000	6,000,000	3,000,000		1,000,000	53,000,000	41,000,000		1,000,000	1,000,000	1,000,000	1,000,000			1,000,000
proceeds on disposition	7,000,000	66,000,000		7,000,000	14,000,000		7,000,000				1,000,000				16,000,000	3,000,000
investment in portfolio investments and other	-52,000,000	-4,000,000		-21,000,000	20,000,000	-139,000,000	-23,000,000	-92,000,000	-111,000,000	-1,000,000
cash used by investing activities	-1,093,000,000	-602,000,000		-1,255,000,000	-992,000,000	-3,957,000,000	-908,000,000	-2,333,000,000	-4,002,000,000	-1,153,000,000	-4,989,000,000
financing activities
dividends paid to holders of common shares	-405,000,000	-402,000,000		-431,000,000	-359,000,000	-977,000,000	-320,000,000	-318,000,000	-774,000,000	-251,000,000	-698,000,000
issue (repayment) of short-term borrowings	-390,000,000	399,000,000		940,000,000		488,000,000	1,000,000	489,000,000	8,000,000		-15,000,000
long-term debt issued	6,469,000,000	1,663,000,000		1,222,000,000	2,567,000,000	6,415,000,000	1,836,000,000	3,681,000,000	3,339,000,000	975,000,000	4,455,000,000	1,377,000,000	6,000,000,000	4,320,000,000	1,039,000,000	1,543,000,000	4,390,000,000	2,041,000,000	1,246,000,000	2,882,000,000	447,000,000	2,847,000,000	3,148,000,000	761,000,000	1,180,000,000	1,700,000,000	2,364,000,000	3,368,000,000	1,780,000,000	630,000,000	875,000,000	3,574,000,000	10,012,500,000	2,862,000,000
redemptions and repayment of long-term debt	-3,048,000,000	-1,990,000,000		-3,101,000,000	-850,000,000	-5,765,000,000	-1,898,000,000	-2,372,000,000	-3,512,000,000	-1,536,000,000	-3,585,000,000
equity of subsidiary issued to non-controlling interest
shares of subsidiary purchased from non-controlling interests							-57,000,000
cash used by financing activities
cash position
increase in cash and temporary investments	2,668,000,000	145,000,000		-1,237,000,000		-665,000,000		-97,000,000	194,000,000	1,055,000,000	663,000,000	523,000,000	-32,000,000		21,000,000				255,000,000			1,519,000,000	5,000,000		304,000,000	250,000,000	62,000,000			6,000,000	5,000,000
cash and temporary investments, net, beginning of period	1,014,000,000	869,000,000		2,164,000,000	864,000,000	325,000,000	877,000,000	974,000,000	-1,335,000,000	848,000,000	-436,000,000	535,000,000	197,000,000	-174,000,000	488,000,000	794,000,000	-205,000,000	478,000,000	223,000,000	141,000,000	1,579,000,000	60,000,000	52,000,000	336,000,000	32,000,000	22,000,000	45,000,000	-4,000,000	23,000,000	17,000,000	41,000,000	4,000,000	-25,700,000	49,100,000
cash and temporary investments, net, end of period	3,682,000,000	1,014,000,000		927,000,000	2,164,000,000	-340,000,000	649,000,000	877,000,000	-1,141,000,000	1,903,000,000	227,000,000	1,058,000,000	165,000,000	-19,000,000	509,000,000	371,000,000	22,000,000	428,000,000	478,000,000	223,000,000	77,000,000	1,579,000,000	57,000,000	52,000,000	336,000,000	272,000,000	107,000,000	-10,000,000	21,000,000	23,000,000	46,000,000	65,000,000	-31,900,000	45,700,000
supplemental disclosure of operating cash flows
interest paid	-308,000,000	-371,000,000		-315,000,000	-334,000,000	-889,000,000	-295,000,000	-286,000,000	-552,000,000	-199,000,000	-545,000,000	-177,000,000	-506,000,000	-410,000,000	-126,000,000	-125,000,000	-378,000,000	-132,000,000	-123,000,000	-129,000,000	-129,000,000	-85,000,000	-124,000,000	-61,000,000	-114,000,000	-130,000,000
interest received	17,000,000	5,000,000		10,000,000	11,000,000	19,000,000	3,000,000	4,000,000	5,000,000	2,000,000	9,000,000	3,000,000	5,000,000	7,000,000	5,000,000	1,000,000		1,000,000		21,000,000	3,000,000			1,000,000	1,000,000	2,000,000	1,000,000						2,600,000	700,000
income taxes paid	-143,000,000	-154,000,000		-115,000,000	-80,000,000	-326,000,000	-152,000,000	-127,000,000						-148,000,000		-33,000,000	-452,000,000	-150,000,000	-273,000,000	-7,000,000	-63,000,000	-115,000,000	-122,000,000	-224,000,000	-120,000,000	-82,000,000
cash provided (used) by financing activities	2,595,000,000	-330,000,000		-1,370,000,000			-437,000,000															1,727,000,000	667,000,000		365,000,000	57,000,000				68,000,000			241,200,000
operating revenues			5,331,000,000
operating revenues and other income			5,381,000,000
total operating expenses			4,622,000,000
net income attributable to common shares			358,000,000
adjusted net income			380,000,000
basic eps			240,000
adjusted basic eps			250,000
ebitda			1,770,000,000
adjusted ebitda			1,838,000,000
capital expenditures	0	0	551,000,000	0		0	0	0	0		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	1,166,000,000	1,077,000,000	1,628,000,000	1,388,000,000		3,192,000,000	1,117,000,000	761,000,000	3,066,000,000		3,672,000,000	1,177,000,000	2,779,000,000	2,992,000,000	979,000,000	1,126,000,000	2,187,000,000	892,000,000	563,000,000	863,000,000	943,000,000	718,000,000	855,000,000	598,000,000	726,000,000	707,000,000	703,000,000	1,678,000,000	533,000,000	393,000,000	414,000,000	614,000,000
free cash flow			534,000,000
total telecom subscriber connections			20,175,000,000
healthcare lives covered			76,200,000
adjustments to reconcile net income to cash provided by operating activities:
non-current contract assets					15,000,000	7,000,000	16,000,000	14,000,000	1,000,000	15,000,000	81,000,000	65,000,000	58,000,000
non-current unbilled customer finance receivables					-48,000,000	-64,000,000	-8,000,000	-14,000,000	-144,000,000	-23,000,000	-69,000,000
unrealized changes in virtual power purchase agreements forward element					66,000,000
cash provided by operating activities					950,000,000					939,000,000																								461,000,000
cash payments for spectrum licences and 3800 mhz spectrum licences deposits					-124,000,000
cash provided by financing activities					1,342,000,000					1,269,000,000
increase (decrease) in cash and temporary investments					1,300,000,000															82,000,000												61,000,000
income from equity accounted investments							4,000,000	4,000,000
cash from financing activities						100,000,000		1,475,000,000				1,305,000,000							352,000,000
unrealized change in forward element of virtual power purchase agreements							7,000,000	19,000,000
adjustments to reconcile net income to cash provided by operating activities:
share-based compensation expense							30,000,000
decrease in cash and temporary investments							-228,000,000
supplemental disclosure of operating cash flows
gain on disposition of financial solutions business
common shares issued										1,300,000,000		1,495,000,000
shares of subsidiary issued and sold to (purchased from) non-controlling interests
in respect of comprehensive income									-501,000,000	-182,000,000	-199,000,000	-93,000,000	-532,000,000
in respect of business acquisitions										-38,000,000
shares of subsidiary issued and sold to non-controlling interests										827,000,000
8 \| december 31, 2021
cash payments for spectrum licences and 3500 mhz spectrum licences deposits
advances to, and investment in, real estate joint ventures and associate											-92,000,000
shares of subsidiary issued to non-controlling interests												209,000,000
december 31, 2020 \| 9
5
loss (income) from equity accounted investments
shares settled from treasury														0
advances to real estate joint ventures
proceeds on dispositions													4,000,000							47,000,000		5,000,000		5,000,000	5,000,000	1,000,000
treasury shares acquired
shares of subsidiary (purchased from) issued to non-controlling interests
notes to consolidated financial statements
general application
1.
2.
3.
4.
consolidated results of operations focused
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
consolidated financial position focused
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
real estate joint ventures advances
issue of shares by subsidiary to non-controlling interests
cash (used) provided by financing activities
periods ended september 30
cash payment for spectrum licences
periods ended march 31
real estate joint ventures advances and contributions
real estate joint ventures receipts
purchases of common shares for cancellation
cash flow statement information
cash provided
profitability ratios
dividend payout1
return on common equity2
debt and coverage ratios
ebitda interest coverage ratio3
net debt to ebitda ratio4,5
other metrics
ebitda5 less capital expenditures
free cash flow (millions)6
capex intensity7
total customer connections (000s)8
employee-related information
total salaries and benefits (millions)5
total active employees9
full-time equivalent (fte) employees
consolidated
repayment of short-term borrowings
purchase of common shares for cancellation
income taxes received															8,000,000
consolidated statements of income
operating income
income before income taxes
earnings per share
adjusted basic eps1
diluted eps
dividends declared per common share
basic weighted-average common shares outstanding
consolidated statements of cash flows
capital expenditures2
other highlights
subscriber connections3
ebitda (earnings before interest, income taxes, depreciation and amortization)1
restructuring and other costs1
adjusted ebitda4
adjusted ebitda margin5
free cash flow1
net debt to ebitda — excluding restructuring and other costs1
issuance and repayment of short-term borrowings																		3,000,000			400,000,000		5,000,000
operations
earnings before interest, taxes, depreciation and amortization (ebitda)1
ebitda margin
ebitda – excluding restructuring and other costs1
adjusted ebitda1
basic earnings per share
adjusted basic eps1,3
dividends declared per share
dividend payout ratio (%)1
wireless segment
external revenue
adjusted ebitda1 margin on total revenue
wireline segment
financial position
total assets
net debt1
return on common equity (%)5
liquidity and capital resources
cash from operations
free cash flow (before dividends)1
net debt to ebitda ratio1,2
customer connections4
wireless subscribers
internet subscribers
residential network access lines
total tv subscribers
total customer connections
2017 targets we continued to pursue our proven national growth strategy focused on wireless and data 2017 results we achieved our revenues and earnings targets, supported by profitable customer growth in wireless and wireline and cost efficiencies 2018 targets our targets reflect revenue, earnings and dividend growth, supported by customer growth, continued network investments and an ongoing focus on efficiency
subscriber connections2
adjusted ebitda3
adjusted ebitda margin4
issue of shares by subsidiary to non-controlling interest																		292,000,000
cash payments for acquisitions and related investments
cash payments for spectrum licences and spectrum licence deposits
adjustments to reconcile net income to cash provided by operating activities:
cash payments for spectrum licences deposits
cash payments for capital assets, excluding 700 mhz spectrum licences
cash payments for 700 mhz spectrum licences
dividends paid to holders of equity shares
cash payments for 700 mhz spectrum licences deposits
non-voting shares issued																											1,000,000		2,000,000	17,000,000
share-based compensation																										13,000,000			5,000,000		1,000,000	9,000,000	-3,400,000	10,100,000
real estate joint venture advances and contributions
gain on re-measured 51% transactel (barbados) inc. interest
dividends paid to holders of common shares and non-voting shares
issuance and repayment of short-term borrowing																												-31,000,000		22,000,000
acquisition of additional equity interest in subsidiary from non-controlling interest
dividends paid by a subsidiary to non-controlling interest and other
supplemental disclosure of cash flows
interest																											-109,000,000	-316,000,000	-145,000,000	-61,000,000	-36,000,000	-49,000,000	-413,900,000	-175,800,000
income taxes (inclusive of investment tax credits) (paid)																											-13,000,000	-107,000,000	-50,000,000	-66,000,000
gain on 51% transactel (barbados) inc. interest re-measured at acquisition-date fair value and subsequent adjustment to contingent consideration
acquisitions and other
proceeds from the sale of property and other assets																															3,000,000		3,700,000	3,300,000
net change in non-cash investing working capital
dividends paid by a subsidiary to non-controlling interest
gain on 51% transactel (barbados) inc. interest re-measured at acquisition date fair value
net change in non-cash working capital
dividends to holders of common shares and non-voting shares
dividends paid by a subsidiary to non-controlling interests
future income taxes																															31,000,000		47,500,000	179,200,000
restructuring costs, net of cash payments
amortization of deferred gains on sale-leaseback of buildings, amortization of deferred items and other
common shares and non-voting shares issued																																1,000,000		200,000
income taxes (inclusive of investment tax credits (note 8)) received																															-251,000,000
amortization of deferred gains on sale-leaseback of buildings, amortization of deferred charges and other																																20,000,000	2,700,000
capital expenditures excluding advanced wireless services spectrum licences
payment for advanced wireless services spectrum licences
acquisitions
purchase of common shares and non-voting shares for cancellation
income taxes (inclusive of investment tax credits (note 9)) received
change in non-current materials and supplies, purchase of investments and other
dividends to shareholders
income taxes (inclusive of investment tax credits received																																-214,000,000		-5,900,000
capital expenditures excluding advance wireless services spectrum licences

TELUS Corporation(NYSE:TU)

TELUS Corporation
(NYSE:TU)