$BCE
BCE INC
CIK:0000718940|SEC Filings
Consolidated statements of cash flows - CAD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|||
| Cash flows from operating activities | ||||
| Net earnings | $ 6,514 | $ 375 | ||
| Adjustments to reconcile net earnings to cash flows from operating activities | ||||
| Severance, acquisition and other costs | 517 | 454 | ||
| Depreciation and amortization | 5,238 | 5,041 | ||
| Post-employment benefit plans cost | 96 | 142 | ||
| Net interest expense | 1,696 | 1,590 | ||
| Impairment of assets | 1,027 | 2,190 | ||
| Net gains on investments | (5,217) | (57) | ||
| Net early debt redemption gains | (249) | 0 | ||
| Net equity losses from investments in associates and joint ventures | 0 | 247 | ||
| Income taxes | 1,193 | 577 | ||
| Contributions to post-employment benefit plans | (49) | (52) | ||
| Payments under other post-employment benefit plans | (59) | (61) | ||
| Severance and other costs paid | (425) | (330) | ||
| Interest paid | (1,808) | (1,759) | ||
| Income taxes paid (net of refunds) | (737) | (783) | ||
| Acquisition and other costs paid | (87) | (52) | ||
| Net change in operating assets and liabilities | (657) | (534) | ||
| Cash flows from operating activities | 6,993 | 6,988 | ||
| Cash flows used in investing activities | ||||
| Capital expenditures | (3,700) | (3,897) | ||
| Decrease in short-term investments | 400 | 600 | ||
| Business acquisitions | (4,905) | (624) | ||
| Business dispositions | 102 | 0 | ||
| Increase in investments | [1] | (83) | (34) | |
| Decrease in investments | [1] | 4,684 | 12 | |
| Spectrum licences | (3) | (531) | ||
| Other investing activities | [1] | (95) | 36 | |
| Cash flows used in investing activities | (3,600) | (4,438) | ||
| Cash flows used in financing activities | ||||
| Increase in notes payable | 452 | 1,945 | ||
| Issue of long-term debt | 7,809 | 3,834 | ||
| Repayment of long-term debt | (10,092) | (3,303) | ||
| Purchase of shares for settlement of share-based payments | (216) | (235) | ||
| Repurchase of preferred shares | (182) | (92) | ||
| Cash dividends paid on common shares | (2,026) | (3,613) | ||
| Cash dividends paid on preferred shares | (151) | (187) | ||
| Cash dividends paid by subsidiaries to non-controlling interest | (51) | (68) | ||
| Other financing activities | (189) | (31) | ||
| Cash flows used in financing activities | (4,646) | (1,750) | ||
| Effect of exchange rate changes on cash and cash equivalents | 1 | 0 | ||
| Net (decrease) increase in cash | (1,258) | 1,025 | ||
| Cash at beginning of year | 1,572 | 547 | ||
| Cash at end of year | 314 | 1,572 | ||
| Net increase (decrease) in cash equivalents | 6 | (225) | ||
| Cash equivalents at beginning of year | 0 | 225 | ||
| Cash equivalents at end of year | $ 6 | $ 0 | ||
| ||||
Consolidated statements of financial position - CAD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets | ||
| Cash | $ 314 | $ 1,572 |
| Cash equivalents | 6 | 0 |
| Short-term investments | 0 | 400 |
| Trade and other receivables | 4,474 | 4,489 |
| Inventory | 389 | 420 |
| Contract assets | 575 | 477 |
| Contract costs | 849 | 702 |
| Prepaid expenses | 379 | 259 |
| Other current assets | 414 | 524 |
| Assets held for sale | 7 | 80 |
| Total current assets | 7,407 | 8,923 |
| Non-current assets | ||
| Contract assets | 272 | 282 |
| Contract costs | 959 | 888 |
| Property, plant and equipment | 33,541 | 30,001 |
| Intangible assets | 17,234 | 16,786 |
| Deferred tax assets | 178 | 136 |
| Investments in associates and joint ventures | 396 | 341 |
| Post-employment benefit assets | 4,310 | 3,578 |
| Other non-current assets | 2,637 | 2,289 |
| Goodwill | 13,231 | 10,261 |
| Total non-current assets | 72,758 | 64,562 |
| Total assets | 80,165 | 73,485 |
| Current liabilities | ||
| Trade payables and other liabilities | 4,392 | 4,507 |
| Contract liabilities | 872 | 774 |
| Interest payable | 435 | 392 |
| Dividends payable | 425 | 933 |
| Current tax liabilities | 567 | 42 |
| Debt due within one year | 6,155 | 7,669 |
| Liabilities held for sale | 10 | 529 |
| Total current liabilities | 12,856 | 14,846 |
| Non-current liabilities | ||
| Contract liabilities | 374 | 350 |
| Long-term debt | 34,904 | 32,835 |
| Deferred tax liabilities | 6,105 | 5,244 |
| Post-employment benefit obligations | 1,151 | 1,204 |
| Other non-current liabilities | 1,465 | 1,646 |
| Total non-current liabilities | 43,999 | 41,279 |
| Total liabilities | 56,855 | 56,125 |
| Commitments and contingencies | ||
| Equity attributable to BCE shareholders | ||
| Contributed surplus | 1,308 | 1,278 |
| Accumulated other comprehensive income (loss) | 573 | (159) |
| Deficit | (3,642) | (8,441) |
| Total equity attributable to BCE shareholders | 23,020 | 17,071 |
| Non-controlling interest | 290 | 289 |
| Total equity | 23,310 | 17,360 |
| Total liabilities and equity | 80,165 | 73,485 |
| Preferred shares | ||
| Equity attributable to BCE shareholders | ||
| Stated capital | 3,288 | 3,533 |
| Common shares | ||
| Equity attributable to BCE shareholders | ||
| Stated capital | $ 21,493 | $ 20,860 |