Financial History

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Financial History

(In millions of dollars, except per share amounts, subscriber count results, churn, ARPA, ARPU, percentages, and ratios) As at or years ended December 31
2021 2020 2019 2018 2017 1
Revenue
Wireless 2021: 8,768 2020: 8,530 2019: 9,250 2018: 9,200 2017: 8,569
Cable 2021: 4,072 2020: 3,946 2019: 3,954 2018: 3,932 2017: 3,894
Media 2021: 1,975 2020: 1,606 2019: 2,072 2018: 2,168 2017: 2,153
Corporate items and intercompany eliminations 2021: (160) 2020: (166) 2019: (203) 2018: (204) 2017: (247)
Total revenue 2021: 14,655 2020: 13,916 2019: 15,073 2018: 15,096 2017: 14,369
Total service revenue 3 2021: 12,533 2020: 11,955 2019: 12,965 2018: 12,974 2017: 12,550
Adjusted EBITDA 4
Wireless 2021: 4,214 2020: 4,067 2019: 4,345 2018: 4,090 2017: 3,726
Cable 2021: 2,013 2020: 1,935 2019: 1,919 2018: 1,874 2017: 1,819
Media 2021: (127) 2020: 51 2019: 140 2018: 196 2017: 127
Corporate items and intercompany eliminations 2021: (213) 2020: (196) 2019: (192) 2018: (177) 2017: (170)
Total adjusted EBITDA 2021: 5,887 2020: 5,857 2019: 6,212 2018: 5,983 2017: 5,502
Net income 2021: 1,558 2020: 1,592 2019: 2,043 2018: 2,059 2017: 1,845
Adjusted net income 5 2021: 1,803 2020: 1,725 2019: 2,135 2018: 2,241 2017: 1,902
Cash provided by operating activities 2021: 4,161 2020: 4,321 2019: 4,526 2018: 4,288 2017: 3,938
Free cash flow 4 2021: 1,671 2020: 2,366 2019: 2,278 2018: 2,134 2017: 1,685
Capital expenditures 2021: 2,788 2020: 2,312 2019: 2,807 2018: 2,790 2017: 2,436
Earnings per share
Basic 2021: $3.09 2020: $3.15 2019: $3.99 2018: $4.00 2017: $3.58
Diluted 2021: $3.07 2020: $3.13 2019: $3.97 2018: $3.99 2017: $3.57
Adjusted earnings per share 4
Basic 2021: $3.57 2020: $3.42 2019: $4.17 2018: $4.35 2017: $3.69
Diluted 2021: $3.56 2020: $3.40 2019: $4.15 2018: $4.34 2017: $3.68
Statements of Financial Position:
Assets
Property, plant and equipment 2021: 14,666 2020: 14,018 2019: 13,934 2018: 11,780 2017: 11,143
Goodwill 2021: 4,024 2020: 3,973 2019: 3,923 2018: 3,905 2017: 3,905
Intangible assets 2021: 12,281 2020: 8,926 2019: 8,905 2018: 7,205 2017: 7,244
Investments 2021: 2,493 2020: 2,536 2019: 2,830 2018: 2,134 2017: 2,561
Other assets 2021: 8,499 2020: 9,401 2019: 7,427 2018: 6,894 2017: 5,637
Total assets 2021: 41,963 2020: 38,854 2019: 37,019 2018: 31,918 2017: 30,490
Liabilities and Shareholders' Equity
Long-term liabilities 2021: 22,812 2020: 22,695 2019: 21,639 2018: 16,903 2017: 16,111
Current liabilities 2021: 8,619 2020: 6,586 2019: 5,964 2018: 6,836 2017: 6,883
Total liabilities 2021: 31,431 2020: 29,281 2019: 27,603 2018: 23,739 2017: 22,994
Shareholders' equity 2021: 10,532 2020: 9,573 2019: 9,416 2018: 8,179 2017: 7,496
Total liabilities and shareholders' equity 2021: 41,963 2020: 38,854 2019: 37,019 2018: 31,918 2017: 30,490
Subscriber count results (000s) 3
Wireless subscribers 5 2021: 11,297 2020: 10,943 2019: 10,840 2018: 10,783 2017: 10,482
Internet subscribers 6,7 2021: 2,665 2020: 2,598 2019: 2,534 2018: 2,430 2017: 2,321
Ignite TV subscribers 8 2021: 788 2020: 544 2019: 326 2018: 2017:
Customer Relationships 7,8 2021: 2,581 2020: 2,530 2019: 2510 2018: 2017:
Additional Wireless metrics 3
Postpaid churn (monthly) 2021: 0.95% 2020: 1.00% 2019: 1.11% 2018: 1.10% 2017: 1.2%
Blended ABPU (monthly) 9 2021: 2020: $63.24 2019: $66.23 2018: $64.74 2017: $62.31
Blended ARPU (monthly) 2021: $50.26 2020: $50.75 2019: $55.49 2018: $55.64 2017: $54.23
Additional Cable metrics
ARPA (monthly) 8,9 2021: $132.58 2020: $130.70 2019: $131.71 2018: 2017:
Penetration 8 2021: 54.9% 2020: 55.3% 2019: 56.1% 2018: 2017:
Additional consolidated metrics
Revenue growth 2021: 5% 2020: (8%) 2019: -% 2018: 5% 2017: 5%
Adjusted EBITDA growth 2021: 1% 2020: (6%) 2019: 4% 2018: 9% 2017: 9%
Dividends declared per share 2021: $2.00 2020: $2.00 2019: $2.00 2018: $1.92 2017: $1.92
Dividend payout ratio of net income 3,9 2021: 64.8% 2020: 63.4% 2019: 50.0% 2018: 48.0% 2017: 53.6%
Dividend payout ratio of free cash flow 3,9 2021: 60.4% 2020: 42.7% 2019: 44.9% 2018: 55.8% 2017: 58.6%
Return on assets 3,9 2021: 3.7% 2020: 4.1% 2019: 5.5% 2018: 6.5% 2017: 6.1%
Debt leverage ratio 10 2021: 3.4 2020: 3.0 2019: 2.9 2018: 2.5 2017: 2.7