Telus 2011 Annual Report Download - page 50
Download and view the complete annual report
Please find page 50 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.-
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
 |
 |
46 . TELUS 2011 ANNUAL REPORT
Consolidated 2012 targets
See Caution regarding forward-looking statements at the beginning
of the MD&A.
10
09
08
07
CONSOLIDATED REVENUE ($ millions)
12 target 10,700 to 11, 000
9,779
9,606
10,397
9,792
11
10
10*
09*
*Previous Canadian GAAP
10
09
08
07
CONSOLIDATED EBITDA ($ millions)
12 target 3,800 to 4,000
3,643
3,491
3,778
3,650
11
10
10*
09*
*Previous Canadian GAAP
EBITDA is a non-GAAP measure.
10
09
08
07
BASIC EARNINGS PER SHARE ($)
12 target 3.75 to 4.15
3.23
3.14
3.76
3.27
11
10
10*
09*
*Previous Canadian GAAP
10
09
08
07
CONSOLIDATED CAPITAL EXPENDITURES ($ millions)
12 target approx. 1,850
2,103
1,847
1,721
11
10
09
09*
Assumptions for 2012 targets
Ongoing intense wireless and wireline competition in both business
and consumer markets
Continued downward re-pricing of legacy services
Wireless industry penetration of the Canadian population to increase
between 4.0 and 4.5 percentage points, with wireless industry
subscriber growth to remain robust due to a combination of increased
competition and accelerated adoption of smartphones, tablets
and data applications
TELUS wireless domestic voice ARPU erosion offset by increased data
and international roaming ARPU growth
Wireless acquisition and retention expenses to increase due to
increased loading of more expensive smartphones, including upgrades,
and to support a larger subscriber base
Ongoing investments for deployment of LTE wireless technology
in urban markets
Wireline data revenue growth greater than legacy service revenue
declines due to continued wireline broadband expansion and upgrades
supporting Optik TV and Optik High Speed Internet subscriber sales.
Legacy service revenue declines reflect continued erosion in network
access lines and long distance revenue
A preliminary pension accounting discount rate was confirmed at
4.5% (75 basis points lower than 2011) and the preliminary expected
long-term return was estimated at 6.5% and subsequently set at
6.75% (25 basis points lower than 2011)
A discretionary pension contribution of $100 million was made in
January 2012 (a similar discretionary contribution of $200 million was
made in January 2011)
Approximately $25 million in restructuring costs to support operating
and capital efficiency initiatives, supplemented by value-for-money
initiatives to improve efficiency and effectiveness that do not involve
restructuring charges
Financing costs of approximately $350 million ($377 million in 2011)
Statutory income tax rate of approximately 25 to 26% (27.2% in 2011)
Cash income taxes of approximately $150 to $200 million
($150 million in 2011).