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
2018 2017 1 2016 2 2015 2 2014 2
Revenue
Wireless 2018: 9,200 2017: 8,569 2016: 7,916 2015: 7,651 2014: 7,305
Cable 3 2018: 3,932 2017: 3,894 2016: 3,871 2015: 3,870 2014: 3,867
Media 2018: 2,168 2017: 2,153 2016: 2,146 2015: 2,079 2014: 1,826
Corporate items and intercompany eliminations 3 2018: (204) 2017: (247) 2016: (231) 2015: (186) 2014: (148)
Total revenue 2018: 15,096 2017: 14,369 2016: 13,702 2015: 13,414 2014: 12,850
Total service revenue 4,5 2018: 12,974 2017: 12,550 2016: 13,027 2015: 12,649 2014:
Adjusted EBITDA 6
Wireless 2018: 4,090 2017: 3,726 2016: 3,262 2015: 3,217 2014: 3,232
Cable 3 2018: 1,874 2017: 1,819 2016: 1,773 2015: 1,751 2014: 1,760
Media 2018: 196 2017: 127 2016: 159 2015: 167 2014: 125
Corporate items and intercompany eliminations 3 2018: (177) 2017: (170) 2016: (163) 2015: (159) 2014: (135)
Total adjusted EBITDA 2018: 5,983 2017: 5,502 2016: 5,031 2015: 4,976 2014: 4,982
Net income 2018: 2,059 2017: 1,845 2016: 835 2015: 1,342 2014: 1,341
Adjusted net income 6 2018: 2,241 2017: 1,902 2016: 1,432 2015: 1,433 2014: 1,508
Cash provided by operating activities 2018: 4,288 2017: 3,938 2016: 3,957 2015: 3,747 2014: 3,698
Free cash flow 6 2018: 2,134 2017: 1,685 2016: 1,705 2015: 1,676 2014: 1,437
Capital expenditures 2018: 2,790 2017: 2,436 2016: 2,352 2015: 2,440 2014: 2,366
Earnings per share
Basic 2018: $4.00 2017: $3.58 2016: $1.62 2015: $2.61 2014: $2.60
Diluted 2018: $3.99 2017: $3.57 2016: $1.62 2015: $2.60 2014: $2.56
Adjusted earnings per share 6
Basic 2018: $4.35 2017: $3.69 2016: $2.78 2015: $2.78 2014: $2.93
Diluted 2018: $4.34 2017: $3.68 2016: $2.77 2015: $2.77 2014: $2.92
Statements of Financial Position:
Assets
Property, plant and equipment 2018: 11,780 2017: 11,143 2016: 10,749 2015: 10,997 2014: 10,655
Goodwill 2018: 3,905 2017: 3,905 2016: 3,905 2015: 3,905 2014: 3,897
Intangible assets 2018: 7,205 2017: 7,244 2016: 7,130 2015: 7,243 2014: 6,588
Investments 2018: 2,134 2017: 2,561 2016: 2,174 2015: 2,271 2014: 1,898
Other assets 2018: 6,894 2017: 5,637 2016: 4,384 2015: 4,773 2014: 3,498
Total assets 2018: 31,918 2017: 30,490 2016: 28,342 2015: 29,189 2014: 26,536
Liabilities and Shareholders' Equity
Long-term liabilities 2018: 16,903 2017: 16,111 2016: 17,960 2015: 18,536 2014: 16,205
Current liabilities 2018: 6,836 2017: 6,883 2016: 5,113 2015: 5,017 2014: 4,920
Total liabilities 2018: 23,739 2017: 22,994 2016: 23,073 2015: 23,553 2014: 21,125
Shareholders' equity 2018: 8,179 2017: 7,496 2016: 5,269 2015: 5,636 2014: 5,411
Total liabilities and shareholders' equity 2018: 31,918 2017: 30,490 2016: 28,342 2015: 29,189 2014: 26,536
Subscriber count results (000s) 4
Wireless subscribers 2018: 10,783 2017: 10,482 2016: 10,274 2015: 9,877 2014: 9,450
Internet subscribers 2018: 2,430 2017: 2,321 2016: 2,145 2015: 2,048 2014: 2,011
Television subscribers 2018: 1,685 2017: 1,740 2016: 1,820 2015: 1,896 2014: 2,024
Phone subscribers 2018: 1,116 2017: 1,108 2016: 1,094 2015: 1,090 2014: 1,150
Additional Wireless metrics 4
Postpaid churn (monthly) 2018: 1.10% 2017: 1.2% 2016: 1.23% 2015: 1.27% 2014: 1.27%
Blended ABPU (monthly) 7 2018: $64.74 2017: $62.31 2016: 2015: 2014:
Blended ARPU (monthly) 2018: $55.64 2017: $54.23 2016: $60.42 2015: $59.71 2014: $59.41
Additional consolidated metrics
Revenue growth 2018: 5% 2017: 5% 2016: 2% 2015: 4% 2014: 1%
Adjusted EBITDA growth 2018: 9% 2017: 9% 2016: 1% 2015: 0% 2014: 2%
Dividends declared per share 2018: $1.92 2017: $1.92 2016: $1.92 2015: $1.92 2014: $1.83
Dividend payout ratio of net income 4 2018: 48.0% 2017: 53.6% 2016: 118.3% 2015: 73.6% 2014: 70.2%
Dividend payout ratio of free cash flow 4,6 2018: 55.8% 2017: 58.6% 2016: 57.9% 2015: 58.9% 2014: 65.6%
Return on assets 4 2018: 6.5% 2017: 6.1% 2016: 2.9% 2015: 4.6% 2014: 5.1%
Debt leverage ratio 6 2018: 2.5 2017: 2.7 2016: 3.0 2015: 3.1 2014: 2.9