EX-99.5 6 d814708dex995.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: October 31, 2019     BELL CANADA
    By:   (signed) Thierry Chaumont                
    Name:   Thierry Chaumont
    Title:   Senior Vice-President and Controller

LOGO

    BELL CANADA

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION (1)

For the periods ended September 30, 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, 2018 and the unaudited consolidated interim financial report for the nine months ended September 30, 2019.

For the periods ended September 30:

 

    

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

 

     

 

2019

 

     

 

2018

 

     

 

2019

 

    

 

2018

 

    

 

2019

 

    

 

2018

 

    

 

2019

 

     

 

2018

 

     

 

2019

 

     

 

2018

 

          
     

Three

months

     

Three
months

     

Nine
months

     

Nine
months

     

Three
months

     

Three
months

     

Nine
months

     

Nine
months

     

Three
months

     

Three
months

     

Nine
months

     

Nine
months

     

Three
months

    

Three
months

    

Nine
months

    

Nine

months

    

Three
months

     

Three
months

     

Nine
months

     

Nine
months

          

Operating revenues

      —        —        —        —        5,984        5,877        17,649        17,254        —        —        —        —        —       —       (1 )      (1 )      5,984        5,877        17,648        17,253     

Net earnings from continuing operations attributable to owners

      904        850        2,481        2,286        959        888        2,596        2,351        35        33        103        103        (994 )      (921 )      (2,699 )      (2,454 )      904        850        2,481        2,286     

Net earnings attributable to owners

     
 904
  
     
 850
  
     
 2,481
  
     
 2,286
  
     
 959
  
     
 888
  
     
 2,596
  
     
 2,351
  
     
 35
  
     
 33
  
     
 103
  
     
 103
  
     
 (994
 ) 
    
 (921
 ) 
    
 (2,699
 ) 
    
 (2,454
 ) 
    
 904
  
     
 850
  
     
 2,481
  
     
 2,286
  
         

As at September 30, 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

 

            
     

 

Sept. 30,
2019

 

     

 

Dec. 31,
2018

 

     

 

Sept. 30,
2019

 

     

 

Dec. 31,
2018

 

     

 

Sept. 30,

2019

 

     

 

Dec. 31,

2018

 

     

 

Sept. 30,
2019

 

    

 

Dec. 31,
2018

 

    

 

Sept. 30,
2019

 

     

 

Dec. 31,
2018

 

          

Total Current Assets

      685        576        8,333        7,400        383        286        (3,146 )      (2,469 )      6,255        5,793     

Total Non-current Assets

      23,393        22,429        47,754        44,616        50        53        (16,826 )      (15,791 )      54,371        51,307     

Total Current Liabilities

      3,047        2,531        10,404        10,317        72        50        (3,146 )      (2,469 )      10,377        10,429     

Total Non-current Liabilities

     

 

 104

 

  

 

     

 

 113

 

  

 

     

 

 28,276

 

  

 

     

 

 25,231

 

  

 

     

 

 36

 

  

 

     

 

 84

 

  

 

     

 

 570

 

  

 

    

 

 554

 

  

 

    

 

 28,986

 

  

 

     

 

 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