Telus 2011 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2011 Telus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 182

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182

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 are subject to inherent risks and uncertainties and require the Company to make assumptions. 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
2012 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 © 2012 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
2011 highlights gatefold
results at a glance 1
snapshot of operations: wireless 2
snapshot of operations: wireline 4
CEO letter to investors 6
2011 scorecard 14
2012 targets 15
community investment 16
questions and answers 18
board of directors and executive leadership team 22
where we are 25
financial review
2011 financial and operating highlights 27
CFO letter to investors 28
corporate governance 30
financial and operating statistics 32
management’s discussion and analysis 38
financial statements and notes 103
glossary 170
investor information 172
online information 177
why invest in TELUS back cover
who we are
TELUS is a leading national telecommunications
company in Canada, with $10.4 billion of annual revenue
and 12.7 million customer connections including
7.3 million wireless subscribers, 3.6 million wireline
network access lines, 1.3 million Internet subscribers
and more than 500,000 TELUS TV® customers.
TELUS provides a wide range of telecommunications
products and services including wireless, data,
Internet protocol (IP), voice, television, entertainment
and video. In support of our community investment
philosophy – we give where we liveTM – TELUS,
our team members and retirees have contributed
more than $260 million to charitable and not-for-
profit organizations and volunteered 4.2 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
1/2 INCH GETS TRIMMED OFF FOR GATEFOLD