Telus 2010 Annual Report Download - page 36
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32 . TELUS 2010 annual report
9.6
9.8
7.6
7.1
8.7
8.1
9.1
9.7
36.3
37.3
41.1
39.7
41.6
40.8
41.4
39.1
OPERATING REVENUES AND EBITDA6 MARGIN ($ billions and %)
EBITDA margin (%)
10
09
08
07
06
05
04
03
ANNUAL CONSOLIDATED FINANCIALS
Consolidated
Statement of income (millions) 2010 2009 2008 2007 2006 2005 2004 2003
Operating revenues $ß 9,779 $ß 9,606 $ß 9,653 $ß 9,074 $ß 8,681 $ß 8,143 $ß 7,581 $ß 7,146
Operations expense1 6,062 5,925 5,815 5,465 4,998 4,769 4,413 4,277
Restructuring costs 74 190 59 20 68 54 53 28
EBITDA 3,643 3,491 3,779 3,589 3,615 3,320 3,115 2,841
Depreciation and amortization 1,735 1,722 1,713 1,615 1,576 1,624 1,643 1,653
Operating income 1,908 1,769 2,066 1,974 2,039 1,696 1,472 1,188
Other expense, net 32 32 36 36 28 18 9 23
Financing costs before debt redemption loss 458 433 463 440 505 590 613 640
Debt redemption loss 52 99 – – – 33 – –
Income before income taxes 1,366 1,205 1,567 1,498 1,506 1,055 850 525
Income taxes 328 203 436 233 353 330 264 181
Net income $ß 1,038 $ß 1,002 $ß 1,131 $ß 1,265 $ß 1,153 $ 725 $ 586 $ 344
Net income attributable to common shares
and non-voting shares $ß 1,034 $ 998 $ß 1,128 $ß 1,258 $ß 1,145 $ 717 $ 580 $ 337
Share information2 2010 2009 2008 2007 2006 2005 2004 2003
Average shares outstanding – basic (millions) 320 318 320 332 344 357 355 349
Shares issued (millions) 4 – – – 4 12 9 6
Shares repurchased (millions) – – 7 14 16 21 2 –
Year-end shares outstanding (millions) 322 318 318 324 338 350 359 352
Earnings per share – basic $ß 3.23 $ß 3.14 $ß 3.52 $ß 3.79 $ß 3.33 $ß 2.01 $ß 1.63 $ß 0.97
Dividends declared per share 2.00 1.90 1.825 1.575 1.20 0.875 0.65 0.60
Financial position (millions) 2010 2009 2008 2007 2006 2005 2004 2003
Capital assets, at cost3 $ß35,100 $ß34,357 $ß32,581 $ß30,129 $ß28,661 $ß27,456 $ß26,632 $ß25,778
Accumulated depreciation and amortization3 22,244 21,480 20,098 19,007 17,679 16,514 15,411 14,215
Total assets 19,599 19,219 19,021 16,849 16,522 16,208 17,791 17,398
Net debt4 6,869 7,312 7,286 6,141 6,278 6,294 6,628 7,871
Total capitalization5 15,088 14,959 14,524 13,100 13,253 13,190 13,650 14,371
Long-term debt 5,313 6,090 6,348 4,584 3,475 4,616 6,300 6,571
Owners’ equity 8,201 7,575 7,108 6,855 6,975 6,896 7,022 6,500
3.14
3.23
1.63
3.33
2.01
3.79
3.52
1.90
2.00
0.65
0.97
0.60
1.20
0.875
1.575
1.825
BASIC EARNINGS AND DIVIDENDS PER SHARE ($)
dividends per share
10
09
08
07
06
05
04
03