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TELUS 2010 annual report . 169
FINANCIAL STATEMENTS & NOTES: 23
As at December 31, 2010, income tax returns, whether filed or not, pertaining to taxation years that remain open to examination by major
jurisdictions are as follows:
As at December 31 2010 2009
Restricted to appeals Other Restricted to appeals Other
Canada – Federal 1999–2001, 2003 2002, 2004–2010 1999–2001, 2003 2002, 2004–2009
Canada – provincial 1999–2001 2002–2010 1999–2001 2002–2009
United States n.a. 2006–2010 n.a. 2006–2009
Comprehensive income, which incorporates net income, includes all
changes in equity during a period except those resulting from invest-
ments by and distributions to owners.
(f) Comprehensive income (loss)
U.S. GAAP requires that a statement of comprehensive income be
displayed with the same prominence as other financial statements.
Years ended December 31 2010 2009
Canadian Canadian
GAAP other Pension U.S. GAAP other GAAP other Pension U.S. GAAP other
comprehensive and other comprehensive comprehensive and other comprehensive
(millions) income (loss) benefit plans income (loss) income (loss) benefit plans income (loss)
Amount arising $ 74 $ß(198) $ß(124) $ 87 $ß(593) $ß(506)
Income tax expense 20 (54) (34) 29 (154) (125)
Net 54 (144) (90) 58 (439) (381)
Accumulated other comprehensive
income (loss), beginning of period (72) (829) (901) (130) (390) (520)
Accumulated other comprehensive
income (loss), end of period $ß(18) $ß(973) $ß(991) $ß(72) $ß(829) $ß(901)
The closing accumulated other comprehensive income amounts in respect of components of net periodic benefit costs not yet recognized,
and the amounts expected to be recognized in fiscal 2011, are as follows:
As at December 31 2010
Amounts
2009
Accumulated other expected to Accumulated other
comprehensive income amounts be recognized comprehensive income amounts
(millions) Gross Tax effect Net in 2011 Gross Tax effect Net
Pension benefit plans
Unamortized net actuarial loss (gain) $ß1,726 $ß468 $ß1,258 $ß 99 $ß1,528 $ß417 $ß1,111
Unamortized past service costs 27 9 18 4 31 10 21
Unamortized business combination difference (419) (114) (305) – (418) (116) (302)
1,334 363 971 103 1,141 311 830
Other benefit plans
Unamortized net actuarial loss (gain) 4 1 3 – (1) – (1)
$ß1,338 $ß364 $ 974 $ß103 $ß1,140 $ß311 $ 829
No. 140 and No. 167, Amendments to FASB Interpretation No. 46(R).
Earlier application was prohibited. The Company’s current accounting
policies and practices are not affected by the provisions of these topics.
Recently issued accounting standards not yet implemented:
As would affect the Company, there are no U.S. accounting standards
currently issued and not yet implemented that would differ from Canadian
accounting standards currently issued and not yet implemented.
(g) Accounting policy developments
Accounting for transfers of financial assets and consolidation of variable
interest entities: Under U.S. GAAP, for interim and annual reporting
effective with its 2010 fiscal year, the Company is required to comply with
amended standards in respect of transfers of financial assets and vari-
able interest entities, as prescribed by Financial Accounting Standards
Board Statement of Financial Accounting Standards No. 166, Accounting
for Transfers of Financial Assets – an amendment of FASB Statement