Telus 2010 Annual Report Download - page 124

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120 . TELUS 2010 annual report
Years ended December 31 (millions) Note 2010 2009
Operating Activities
Net income $ß1,038 $ß1,002
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization 1,735 1,722
Future income taxes 213 (83)
Share-based compensation 12(a) (30) (23)
Net employee defined benefit plans expense 31 20
Employer contributions to employee defined benefit plans (140) (180)
Restructuring costs, net of cash payments 7 (24) 84
Other (41) 23
Net change in non-cash working capital 21(c) (236) 339
Cash provided by operating activities 2,546 2,904
Investing Activities
Capital expenditures 6, 15, 16 (1,721) (2,103)
Acquisitions 16(e) – (26)
Proceeds from the sale of property and other assets 10 –
Other 4 1
Cash used by investing activities (1,707) (2,128)
Financing Activities
Common Shares and Non-Voting Shares issued 15 1
Dividends paid to holders of Common Shares and Non-Voting Shares 11(a) (473) (602)
Long-term debt issued 18, 21(c) 3,725 9,112
Redemptions and repayment of long-term debt 18, 21(c) (4,127) (9,244)
Dividends paid by a subsidiary to non-controlling interests (3) (6)
Cash used by financing activities (863) (739)
Cash Position
Increase (decrease) in cash and temporary investments, net (24) 37
Cash and temporary investments, net, beginning of period 41 4
Cash and temporary investments, net, end of period $ 17 $ 41
Supplemental Disclosure of Cash Flows
Interest (paid) 21(c) $ß (471) $ß (567)
Interest received $ 3 $ 54
Income taxes (inclusive of Investment Tax Credits) (paid), net 9 $ß (311) $ß (266)
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS