Telus 2010 Annual Report Download - page 2

Caution regarding forward-looking statements summary
This document contains statements about expected future events and financial and operating performance of TELUS that are forward-looking. By their nature,
forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the
assumptions, predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-
looking statements as a number of factors could cause assumptions, actual future performance and events to differ materially from those expressed in the
forward-looking statements. Accordingly this document is subject to the disclaimer and qualified in its entirety by the assumptions (including assumptions for
2011 targets), qualifications and risk factors referred to in Management’s discussion and analysis starting on page 38 of this annual report and in other TELUS
public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov).
TELUS disclaims any intention or obligation to update or revise forward-looking statements, except as required by law, and reserves the right to change, at any
time at its sole discretion, its current practice of updating annual targets and guidance.
All financial information is reported in Canadian dollars unless otherwise specified.
Copyright © 2011 TELUS Corporation. All rights reserved. Certain products and services named in this report are trademarks. The symbols ™ and ® indicate
those owned by TELUS Corporation or its subsidiaries. All other trademarks are the property of their respective owners.
WHAT’S INSIDE
CORPORATE REVIEW
what we offer gatefold
2010 financial and operating highlights gatefold
TELUS at a glance 1
CEO letter to investors 2
review of operations 10
2010 scorecard and 2011 targets 14
community investment 16
questions and answers 18
board of directors and executive leadership team 22
where we are 25
FINANCIAL REVIEW 26
CFO letter to investors 27
corporate governance 30
financial and operating statistics 32
management’s discussion and analysis 38
consolidated financial statements and notes 113
glossary 170
investor information 172
corporate social responsibility back cover
WHO WE ARE
TELUS is a leading national telecommunications
company in Canada, with $9.8 billion of annual revenue
and 12.3 million customer connections including
7.0 million wireless subscribers, 3.7 million wireline
network access lines, 1.2 million Internet subscribers
and more than 300,000 TELUS TV® customers. TELUS
provides a wide range of communications products
and services including data, Internet protocol (IP), voice,
entertainment and video. In support of our philosophy
to give where we live, TELUS, our team members
and retirees have contributed $211 million to charitable
and not-for-profit organizations and volunteered
3.7 million hours to local communities since 2000.
OUR VALUES
.We embrace change and initiate opportunity
.We have a passion for growth
.We believe in spirited teamwork
.We have the courage to innovate
LIONS JOIN OUR FAMILY
At TELUS, we use nature-based imagery to help us communicate
our services in a way that is simple and easy to understand. In the next
step of our spirited journey, our lion plays a leading role in this year’s
annual report. What better critter to demonstrate the courage shown by
the TELUS team in our relentless pursuit of innovation.
2006 2007 2008 2009