EX-99.5 6 d891191dex995.htm BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION

Exhibit 99.5

NOTICE OF RELIANCE

SECTION 13.4 OF NATIONAL INSTRUMENT 51-102

CONTINUOUS DISCLOSURE OBLIGATIONS

 

To:

Alberta Securities Commission

British Columbia Securities Commission

Manitoba Securities Commission

Financial and Consumer Services Commission, New Brunswick

Office of the Superintendent of Securities, Newfoundland and Labrador

Nova Scotia Securities Commission

Ontario Securities Commission

Office of the Superintendent of Securities, Prince Edward Island

Autorité des marchés financiers

Financial and Consumer Affairs Authority of Saskatchewan

Toronto Stock Exchange

 

Notice is hereby given that Bell Canada relies on the continuous disclosure documents filed by BCE Inc. pursuant to the exemption from the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) provided in Section 13.4 of NI 51-102.

The continuous disclosure documents of BCE Inc. can be found for viewing in electronic format at www.sedar.com.

 

Attached to this notice and forming part thereof is the consolidating summary financial information for BCE Inc. as required by Section 13.4 of NI 51-102.

 

Dated: March 11, 2020

 

   

BELL CANADA

   

By:

  

(signed) Thierry Chaumont                    

   

Name:

  

Thierry Chaumont

   

Title:

  

Senior Vice-President, Controller and Tax

 

LOGO

 

  Bell Canada

 

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION(1)

For the periods ended December 31, 2019 and 2018

(in millions of Canadian dollars)

BCE Inc. fully and unconditionally guarantees the payment obligations of its 100% owned subsidiary Bell Canada under the public debt issued by Bell Canada. Accordingly, the following summary financial information is provided by Bell Canada in compliance with the requirements of section 13.4 of National Instrument 51-102 (Continuous Disclosure Obligations) providing for an exemption for certain credit support issuers. The tables below contain selected summary financial information for (i) BCE Inc. (as credit supporter), (ii) Bell Canada (as credit support issuer) on a consolidated basis, (iii) BCE Inc.’s subsidiaries, other than Bell Canada, on a combined basis, (iv) consolidating adjustments, and (v) BCE Inc. and all of its subsidiaries on a consolidated basis, in each case for the periods indicated. Such summary financial information for BCE Inc. and Bell Canada and all other subsidiaries is intended to provide investors with meaningful and comparable financial information about BCE Inc. and its subsidiaries. This summary financial information should be read in conjunction with BCE Inc.’s audited consolidated financial statements for the year ended December 31, 2019.

For the periods ended December 31:

 

                                                                                                                                                                                             
     BCE INC.
(“CREDIT SUPPORTER”)(2)		     BELL CANADA CONSOLIDATED
(“CREDIT SUPPORT ISSUER”)		     SUBSIDIARIES OF BCE INC.
OTHER THAN BELL CANADA(3)		     CONSOLIDATING
     ADJUSTMENTS(4)    		     BCE INC.
CONSOLIDATED		  
     2019     2018     2019     2018     2019     2018     2019     2018     2019     2018  

Operating revenues

     –       –       23,966       23,470       –       –       (2 )      (2 )      23,964       23,468    

Net earnings from continuing operations attributable to owners

     3,191       2,929       3,386       3,009       137       124       (3,523 )      (3,133 )      3,191       2,929  

Net earnings attributable to owners

     3,191       2,929       3,386       3,009       137       124       (3,523 )      (3,133 )      3,191       2,929  

As at December 31, 2019 and December 31, 2018, respectively:

 

     BCE INC.
(“CREDIT SUPPORTER”)(2)		     BELL CANADA CONSOLIDATED
(“CREDIT SUPPORT ISSUER”)		     SUBSIDIARIES OF BCE INC.
OTHER THAN BELL CANADA(3)		     CONSOLIDATING
      ADJUSTMENTS(4)       		    

BCE INC.

CONSOLIDATED

  
     Dec. 31,
2019		     Dec. 31,
2018		    

Dec. 31,

2019

    

Dec. 31,

2018

    

Dec. 31,

2019

    

Dec. 31,

2018

       Dec. 31,
2019		       Dec. 31,
2018		       Dec. 31,
2019		    

  Dec. 31,    

2018    

Total Current Assets

     651       576       7,687       7,400       420       286       (3,238 )      (2,469 )      5,520       5,793    

Total Non-current Assets

     23,745       22,429       48,030       44,616       39       53       (17,188 )      (15,791 )      54,626       51,307  

Total Current Liabilities

     3,219       2,531       9,721       10,317       75       50       (3,238 )      (2,469 )      9,777       10,429  

Total Non-current Liabilities

     103       113       28,254       25,231       29       84       575       554       28,961       25,982  

 

(1) 

The summary financial information is prepared in accordance with International Financial Reporting Standards (IFRS) and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly-accountable enterprises. As required, BCE adopted IFRS 16 - Leases effective January 1, 2019 using a modified retrospective approach whereby the financial results of prior periods presented were not restated and continue to be reported under IAS 17 - Leases, as permitted by IFRS 16.

(2) 

This column accounts for investments in all subsidiaries of BCE Inc. under the equity method.

(3) 

This column accounts for investments in all subsidiaries of BCE Inc. (other than Bell Canada) on a consolidated basis.

(4) 

This column includes the necessary amounts to eliminate the intercompany balances between BCE Inc., Bell Canada and other subsidiaries and other adjustments to arrive at the information for BCE Inc. on a consolidated basis.