2015
2014
(In millions of dollars, except per share amounts)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Operating revenue
Wireless
5,670
1,973
1,903
1,794
7,305
1,898
1,880
1,800
1,727
Cable
2,610
871
869
870
3,467
871
864
872
860
Business Solutions
282
94
94
94
382
97
96
95
94
Media
1,519
473
582
464
1,826
544
440
475
367
Corporate items and intercompany eliminations
(119)
(27)
(45)
(47)
(130)
(44)
(28)
(30)
(28)
Operating revenue
9,962
3,384
3,403
3,175
12,850
3,366
3,252
3,212
3,020
Adjusted operating profit (loss)
Wireless
2,485
879
841
765
3,246
725
888
843
790
Cable
1,232
416
414
402
1,665
424
409
423
409
Business Solutions
86
31
27
28
122
34
32
28
28
Media
116
58
90
(32)
131
78
23
54
(24)
Corporate items and intercompany eliminations
(113)
(39)
(35)
(39)
(145)
(28)
(40)
(35)
(42)
Adjusted operating profit 1
3,806
1,345
1,337
1,124
5,019
1,233
1,312
1,313
1,161
Deduct (add):
Stock-based compensation
39
13
14
12
37
12
9
11
5
Depreciation and amortization
1,697
576
562
559
2,144
560
533
532
519
Restructuring, acquisition and other
88
37
42
9
173
43
91
30
9
Finance costs
582
190
182
210
817
202
202
188
225
Other (income) expense
(36)
(59)
26
(3)
1
(10)
12
9
(10)
Net income before income taxes
1,436
588
511
337
1,847
426
465
543
413
Income taxes
354
124
148
82
506
129
133
138
106
Net income
1,082
464
363
255
1,341
297
332
405
307
Earnings per share:
Basic
2.10
0.90
0.70
0.50
2.60
0.58
0.64
0.79
0.60
Diluted
2.09
0.90
0.70
0.48
2.56
0.57
0.64
0.76
0.57
Net income
1,082
464
363
255
1,341
297
332
405
307
Add (deduct):
Stock-based compensation
39
13
14
12
37
12
9
11
5
Restructuring, acquisition and other
88
37
42
9
173
43
91
30
9
Gain on acquisition of Mobilicity
(102)
(102)
-
-
-
-
-
-
-
Loss on non-controlling interest purchase obligation
72
72
-
-
-
-
-
-
-
Loss on repayment of long-term debt
7
-
-
7
29
-
-
-
29
Income tax impact of above items
(33)
(12)
(13)
(8)
(62)
(11)
(27)
(14)
(10)
Income tax adjustment, legislative tax change
6
-
6
-
14
14
-
-
-
Adjusted net income 1
1,159
472
412
275
1,532
355
405
432
340
Adjusted earnings per share1:
Basic
2.25
0.92
0.80
0.53
2.97
0.69
0.79
0.84
0.66
Diluted
2.24
0.91
0.80
0.53
2.96
0.69
0.78
0.84
0.66
2015
2014
(In millions of dollars, except capital intensity and per share amounts)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Additions to property, plant and equipment
Wireless
631
195
256
180
978
258
285
254
181
Cable
722
244
254
224
1,055
291
274
239
251
Business Solutions
122
41
48
33
146
53
28
39
26
Media
32
12
11
9
94
28
23
29
14
Corporate
160
79
52
29
93
34
28
15
16
Total additions to property, plant and equipment
1,667
571
621
475
2,366
664
638
576
488
Capital intensity 1
Wireless
12.2%
11.0%
15.0%
10.8%
14.5%
15.2%
16.5%
15.2%
11.1%
Cable
27.7%
28.0%
29.2%
25.7%
30.4%
33.4%
31.7%
27.4%
29.2%
Business Solutions
43.3%
43.6%
51.1%
35.1%
38.2%
54.6%
29.2%
41.1%
27.7%
Media
2.1%
2.5%
1.9%
1.9%
5.1%
5.1%
5.2%
6.1%
3.8%
Consolidated
16.7%
16.9%
18.2%
15.0%
18.4%
19.7%
19.6%
17.9%
16.2%
Adjusted operating profit 2
3,806
1,345
1,337
1,124
5,019
1,233
1,312
1,313
1,161
Deduct (add):
Additions to property, plant and equipment
1,667
571
621
475
2,366
664
638
576
488
Interest on borrowings, net of capitalized interest
547
180
179
188
756
192
192
189
183
Cash income taxes paid (received)
190
(66)
61
195
460
102
112
112
134
Free cash flow 2
1,402
660
476
266
1,437
275
370
436
356
Weighted average number of shares outstanding
515
515
515
515
515
515
515
515
515
Free cash flow per share 2
2.72
1.28
0.92
0.52
2.79
0.53
0.72
0.85
0.69
Dividends declared
741
247
247
247
942
235
235
235
235
Dividends per share
1.44
0.48
0.48
0.48
1.83
0.4575
0.4575
0.4575
0.4575
(In millions of dollars)
Q3'15
Q2'15
Q1'15
Q4'14
Q3'14
Q2'14
Q1'14
ASSETS
Current assets:
Cash and cash equivalents
-
7
-
176
104
9
2,181
Accounts receivable
1,648
1,562
1,440
1,591
1,452
1,396
1,313
Inventories
269
283
380
251
305
242
253
Other current assets
240
265
328
191
260
300
284
Current portion of derivative instruments
178
118
149
136
94
38
105
Total current assets
2,335
2,235
2,297
2,345
2,215
1,985
4,136
Property, plant and equipment
10,758
10,709
10,610
10,655
10,494
10,354
10,268
Intangible assets
7,274
6,843
6,537
6,588
6,586
6,455
3,195
Investments
2,274
2,395
1,866
1,898
1,682
1,667
1,636
Derivative instruments
1,742
1,106
1,430
788
437
169
310
Other long-term assets
211
207
357
356
349
346
1,012
Deferred tax assets
9
9
9
9
39
38
45
Goodwill
3,887
3,882
3,883
3,883
3,759
3,759
3,759
Total assets
28,490
27,386
26,989
26,522
25,561
24,773
24,361
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Bank advances
11
-
27
-
-
-
-
Short-term borrowings
859
1,017
1,035
842
787
808
650
Accounts payable and accrued liabilities
2,337
2,153
2,141
2,578
2,401
2,034
1,839
Income tax payable
86
54
-
47
188
137
52
Current portion of provisions
12
4
7
7
6
6
6
Unearned revenue
410
426
495
443
382
404
403
Current portion of long-term debt
1,000
1,000
-
963
930
886
918
Current portion of derivative instruments
52
47
75
40
68
93
52
Total current liabilities
4,767
4,701
3,780
4,920
4,762
4,368
3,920
Provisions
51
52
52
55
37
37
37
Long-term debt
15,487
14,889
15,490
13,824
13,612
13,335
13,536
Derivative instruments
76
35
100
11
-
46
20
Other long-term liabilities
530
497
360
462
273
246
226
Deferred tax liabilities
1,831
1,744
1,766
1,769
1,628
1,619
1,704
Total liabilities
22,742
21,918
21,548
21,041
20,312
19,651
19,443
Shareholders' equity
5,748
5,468
5,441
5,481
5,249
5,122
4,918
Total liabilities and shareholders' equity
28,490
27,386
26,989
26,522
25,561
24,773
24,361
2015
2014
(In millions of dollars, except margins)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Operating revenue
Network revenue
5,155
1,776
1,707
1,672
6,743
1,701
1,732
1,674
1,636
Equipment sales
515
197
196
122
562
197
148
126
91
Operating revenue
5,670
1,973
1,903
1,794
7,305
1,898
1,880
1,800
1,727
Operating expenses
Cost of equipment
1,276
460
423
393
1,488
497
361
333
297
Other operating expenses
1,909
634
639
636
2,571
676
631
624
640
Operating expenses
3,185
1,094
1,062
1,029
4,059
1,173
992
957
937
Adjusted operating profit
2,485
879
841
765
3,246
725
888
843
790
Adjusted operating profit margin as a % of network revenue
48.2%
49.5%
49.3%
45.8%
48.1%
42.6%
51.3%
50.4%
48.3%
Additions to property, plant and equipment
631
195
256
180
978
258
285
254
181
2015
2014
(In thousands, except churn, ARPA, and ARPU)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Postpaid
Gross additions
989
399
313
277
1,238
297
336
312
293
Net additions (losses)
75
77
24
(26)
(1)
(58)
17
38
2
Total postpaid subscribers 2,3
8,240
8,240
8,163
8,139
8,073
8,073
8,131
8,114
8,076
Churn (monthly)
1.25%
1.31%
1.19%
1.24%
1.27%
1.46%
1.31%
1.13%
1.20%
ARPA (monthly)
$ 110.27
$ 113.34
$ 110.14
$ 107.47
$ 106.41
$ 107.95
$ 108.97
$ 105.55
$ 103.10
Prepaid
Gross additions
498
218
154
126
507
138
165
128
76
Net additions (losses)
48
77
8
(37)
(52)
11
41
(31)
(73)
Total prepaid subscribers 3,4
1,579
1,579
1,348
1,340
1,377
1,377
1,366
1,325
1,356
Churn (monthly)
3.55%
3.08%
3.63%
3.99%
3.42%
3.09%
3.12%
3.92%
3.55%
Blended ARPU
$ 59.86
$ 61.02
$ 60.01
$ 58.75
$ 59.41
$ 59.86
$ 60.96
$ 59.18
$ 57.63
2015
2014
(In millions of dollars, except margins)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14 1
Q3'14
Q2'14
Q1'14
Operating revenue
Internet
995
344
327
324
1,245
317
311
312
305
Television
1,266
415
425
426
1,734
433
433
437
431
Phone
343
110
115
118
478
118
118
121
121
Service revenue
2,604
869
867
868
3,457
868
862
870
857
Equipment sales
6
2
2
2
10
3
2
2
3
Operating revenue
2,610
871
869
870
3,467
871
864
872
860
Operating expenses
Cost of equipment
2
-
1
1
6
2
1
1
2
Other operating expenses
1,376
455
454
467
1,796
445
454
448
449
Operating expenses
1,378
455
455
468
1,802
447
455
449
451
Adjusted operating profit
1,232
416
414
402
1,665
424
409
423
409
Adjusted operating profit margin
47.2%
47.8%
47.6%
46.2%
48.0%
48.7%
47.3%
48.5%
47.6%
Additions to property, plant and equipment
722
244
254
224
1,055
291
274
239
251
2015
2014
(In thousands)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14 1
Q3'14
Q2'14
Q1'14
Internet
Net additions (losses)
21
24
4
(7)
34
(4)
16
2
20
Total Internet subscribers 3,4
2,032
2,032
2,008
2,004
2,011
2,011
1,999
1,983
1,981
Television
Net losses
(104)
(31)
(32)
(41)
(119)
(36)
(30)
(33)
(20)
Total Television subscribers 3,4
1,920
1,920
1,951
1,983
2,024
2,024
2,044
2,074
2,107
Phone
Net (losses) additions
(45)
(14)
(11)
(20)
(14)
(18)
(7)
1
10
Total Phone subscribers 3,4
1,105
1,105
1,119
1,130
1,150
1,150
1,157
1,164
1,163
Cable homes passed 3,4
4,130
4,130
4,106
4,085
4,068
4,068
4,025
4,004
3,990
Total service units 5
Net losses
(128)
(21)
(39)
(68)
(99)
(58)
(21)
(30)
10
Total service units 3,4
5,057
5,057
5,078
5,117
5,185
5,185
5,200
5,221
5,251
2015
2014
(In millions of dollars, except margins)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Operating revenue
Next generation
214
71
73
70
271
71
69
67
64
Legacy
65
22
20
23
106
24
26
27
29
Service revenue
279
93
93
93
377
95
95
94
93
Equipment sales
3
1
1
1
5
2
1
1
1
Operating revenue
282
94
94
94
382
97
96
95
94
Operating expenses
196
63
67
66
260
63
64
67
66
Adjusted operating profit
86
31
27
28
122
34
32
28
28
Adjusted operating profit margin
30.5%
33.0%
28.7%
29.8%
31.9%
35.1%
33.3%
29.5%
29.8%
Additions to property, plant and equipment
122
41
48
33
146
53
28
39
26
2015
2014
(In millions of dollars, except margins)
Total
Q3'15
Q2'15
Q1'15
Total
Q4'14
Q3'14
Q2'14
Q1'14
Operating revenue
1,519
473
582
464
1,826
544
440
475
367
Operating expenses
1,403
415
492
496
1,695
466
417
421
391
Adjusted operating profit (loss)
116
58
90
(32)
131
78
23
54
(24)
Adjusted operating profit (loss) margin
7.6%
12.3%
15.5%
(6.9%)
7.2%
14.3%
5.2%
11.4%
(6.5%)
Additions to property, plant and equipment
32
12
11
9
94
28
23
29
14