Telus 2011 Annual Report Download - page 115

TELUS 2011 ANNUAL REPORT . 111
FINANCIAL STATEMENTS & NOTES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2011
TELUS Corporation was incorporated under the Company Act (British Columbia) on October 26, 1998, under the name BCT.TELUS Communications Inc.
(BCT). On January 31, 1999, pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act among BCT, BC TELECOM Inc.
and the former Alberta-based TELUS Corporation (TC), BCT acquired all of the shares of BC TELECOM Inc. and TC in exchange for Common Shares
and Non-Voting Shares of BCT, and BC TELECOM Inc. was dissolved. On May 3, 2000, BCT changed its name to TELUS Corporation and in February
2005, TELUS Corporation transitioned under the Business Corporations Act (British Columbia), successor to the Company Act (British Columbia).
TELUS Corporation maintains its registered office at 3777 Kingsway, Burnaby, British Columbia, V5H 3Z7.
TELUS Corporation is one of Canada’s largest telecommunications companies providing a wide range of telecommunications services and products
incuding wireless, data, Internet protocol, voice and television.
The terms “TELUS” or “Company” are used to mean TELUS Corporation and, where the context of the narrative permits, or requires, its subsidiaries.
Notes to consolidated financial statements Page Description
GENERAL APPLICATION
1. Summary of significant accounting policies 112 Summary review of accounting policies and principles and the methods used in their application
by the Company
2. Accounting policy developments 118 Summary review of generally accepted accounting principle developments that do, will or may
affect the Company
3. Capital structure financial policies 119
Summary review of the Company’s objectives, policies and processes for managing its capital structure
4. Financial instruments 121 Summary schedules and review of financial instruments, including the management of associated
risks and fair values
CONSOLIDATED RESULTS OF OPERATIONS FOCUSED
5. Segmented information 129 Summary disclosure of segmented information regularly reported to the Company’s chief operating
decision-maker
6. Other operating income 130 Summary schedule and review of items comprising other operating income
7. Employee benefits expense 130 Summary schedule of employee benefits expense
8. Financing costs 131 Summary schedule of items comprising financing costs
9. Income taxes 131 Summary schedule of income tax expense, reconciliations of statutory rate income tax expense
to income tax expense and analyses of deferred income tax liability
10. Other comprehensive income 133 Details of other comprehensive income and accumulated amounts
11. Per share amounts 133 Summary schedule and review of numerators and denominators used in calculating per share
amounts and related disclosures
12. Dividends per share 134 Summary schedule of dividends declared and review of dividend reinvestment plan
13. Share-based compensation 135 Summary schedules and review of compensation arising from share option awards, restricted
stock units and employee share purchase plan
14. Employee future benefits 137 Summary schedules and review of employee future benefits and related disclosures
CONSOLIDATED FINANCIAL POSITION FOCUSED
15. Property, plant and equipment 145 Summary schedule of items comprising property, plant and equipment
16. Intangible assets and goodwill 146 Summary schedule of items comprising intangible assets, including goodwill and review of reported
fiscal year acquisitions from which goodwill arose
17. Real estate joint venture 150 Summary review of real estate joint venture and related disclosures
18. Short-term borrowings 151 Review of short-term borrowings and related disclosures
19. Provisions 151 Summary schedules and review of items comprising provisions, including restructuring activities
20. Long-term debt 154
Summary schedule of long-term debt and related disclosures
21. Common Share and Non-Voting Share equity 156 Review of Common Share and Non-Voting Share equity items, including share option price stratification
22. Commitments and contingent liabilities 158 Summary review of lease obligations, contingent liabilities, claims and lawsuits
OTHER
23. Related party transactions 160 Summary schedules, including review of transactions with key management personnel
24. Additional financial information 161 Summary schedules of items comprising certain primary financial statement line items
25. Explanation of transition to IFRS-IASB 162 Summary schedules and review of differences arising because of the convergence of Canadian
generally accepted accounting principles with International Financial Reporting Standards as issued
by the International Accounting Standards Board