Telus 2014 Annual Report Download - page 5

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developments, competitive environment, economic performance in Canada, our
earnings and free cash flow, and levels of capital expenditures and spectrum licence
purchases. Quarterly dividend decisions are subject to our Board of Directors’
(Board) assessment and determination based on the Company’s financial position
and outlook. The share purchase program may be affected by the change in our
intention to purchase shares, and the assessment and determination of our Board
from time to time. Consequently, there can be no assurance that these programs will
be maintained through 2016.
 Human resource matters including recruitment, retention and appropriate training in
a highly competitive industry; and the future outcome of collective bargaining for the
contract with the Telecommunications Workers Union (TWU), which expires at the
end of 2015.
 Ability to successfully implement cost reduction initiatives and realize planned
savings, net of restructuring and other like costs, without losing customer service
focus or negatively impacting business operations. Initiatives include: our earnings
enhancement program to drive improvements in earnings before interest, income
taxes, depreciation and amortization (EBITDA); business integrations; business
process outsourcing; internal offshoring and reorganizations; procurement initiatives;
and real estate consolidation.
 Process risks including: our reliance on legacy systems and ability to implement and
support new products and services and business operations; our ability to implement
effective change management for system replacements and upgrades, process
redesigns and business integrations; implementation of complex large enterprise
deals that may be adversely impacted by available resources, system limitations and
degree of co-operation from other service providers; our ability to successfully
manage operations in foreign jurisdictions; information security and privacy
breaches, including data loss or theft of data; and real estate joint venture
development risks.
 Tax matters including: complex tax laws that may be subject to interpretation by the
tax authorities that may differ from our interpretations; changes in tax laws, including
tax rates; elimination of income tax deferrals through the use of different tax year-
ends for operating partnerships and corporate partners; and international tax
complexity and compliance.
 Business continuity events including: our ability to maintain customer service and
operate our networks in the event of human error or human-caused threats, such as
electronic attacks and equipment failures that could cause various degrees of
network outages; supply chain disruptions; natural disaster threats, epidemics and
pandemics; and the completeness and effectiveness of business continuity and
disaster recovery plans and responses.
 Litigation and legal matters including: our ability to successfully defend against
investigations, claims and lawsuits, including class actions pending against us; and
the complexity of legal compliance in domestic and foreign jurisdictions.
 Acquisitions or divestitures including: our ability to successfully integrate acquisitions
or complete divestitures in a timely manner, and realize expected strategic benefits.
 Health, safety and environmental developments and other risk factors discussed
herein and listed from time to time in our reports and public disclosure documents,
including our annual report, annual information form, and other filings with securities
commissions or similar regulatory authorities in Canada (on SEDAR at sedar.com)