EX-99.2 3 selected_a2013.htm BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION Bell Canada Unaudited Selected Summary Financial Information

Exhibit 99.2

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 12, 2014

BELL CANADA

 

By: (signed) Karyn A. Brooks
Name: Karyn A. Brooks
Title: Senior Vice-President and Controller


 

Bell Canada

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION(1)
For the periods ended December 31, 2013 and 2012
(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, 2013. On January 1, 2013 we adopted the required amendments for IAS 19 – Employee Benefits and IFRS 11 – Joint Arrangements. As a result, we have reclassified some of the figures for the comparative period to make them consistent with the current period’s presentations.

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

CONSOLIDATED

 

2013 2012 2013 2012 2013 2012 2013 2012 2013 2012

Operating Revenues

20,402 19,980 (2) (2) 20,400 19,978

Net earnings from continuing operations attributable to owners

2,106 2,595 2,073 2,532 (2,073) (2,532) 2,106 2,595

Net earnings attributable to owners

2,106 2,595 2,073 2,532 (2,073) (2,532) 2,106 2,595

As at December 31, 2013 and 2012, 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

CONSOLIDATED

 

Dec. 31,
2013
Dec. 31,
2012
Dec. 31,
2013

Dec. 31,
2012

Dec. 31,
2013
Dec. 31,
2012
Dec. 31,
2013
Dec. 31,
2012
Dec. 31,
2013

Dec. 31,
2012

Total Current Assets

1,357 1,449 5,076 3,918 53 53 (1,416) (1,507) 5,070 3,913

Total Non-current Assets

14,522 13,302 33,795 30,491 21 21 (8,024) (6,758) 40,314 37,056

Total Current Liabilities

604 593 8,701 7,657 (1,415) (1,504) 7,890 6,746

Total Non-current Liabilities

264 283 20,326 18,555 654 660 21,244 19,498

 

(1) The summary financial information is prepared in accordance with International Financial Reporting Standards and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly -accountable enterprises.
(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.