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
2019 2018 2017 1 2016 2 2015 2
Revenue
Wireless 2019: 9,250 2018: 9,200 2017: 8,569 2016: 7,916 2015: 7,651
Cable 2019: 3,954 2018: 3,932 2017: 3,894 2016: 3,871 2015: 3,870
Media 2019: 2,072 2018: 2,168 2017: 2,153 2016: 2,146 2015: 2,079
Corporate items and intercompany eliminations 2019: (203) 2018: (204) 2017: (247) 2016: (231) 2015: (186)
Total revenue 2019: 15,073 2018: 15,096 2017: 14,369 2016: 13,702 2015: 13,414
Total service revenue 4 2019: 12,965 2018: 12,974 2017: 12,550 2016: 13,027 2015: 12,649
Adjusted EBITDA 5
Wireless 2019: 4,345 2018: 4,090 2017: 3,726 2016: 3,262 2015: 3,217
Cable 2019: 1,919 2018: 1,874 2017: 1,819 2016: 1,773 2015: 1,751
Media 2019: 140 2018: 196 2017: 127 2016: 159 2015: 167
Corporate items and intercompany eliminations 2019: (192) 2018: (177) 2017: (170) 2016: (163) 2015: (159)
Total adjusted EBITDA 2019: 6,212 2018: 5,983 2017: 5,502 2016: 5,031 2015: 4,976
Net income 2019: 2,043 2018: 2,059 2017: 1,845 2016: 835 2015: 1,342
Adjusted net income 5 2019: 2,135 2018: 2,241 2017: 1,902 2016: 1,432 2015: 1,433
Cash provided by operating activities 2019: 4,526 2018: 4,288 2017: 3,938 2016: 3,957 2015: 3,747
Free cash flow 5 2019: 2,278 2018: 2,134 2017: 1,685 2016: 1,705 2015: 1,676
Capital expenditures 2019: 2,807 2018: 2,790 2017: 2,436 2016: 2,352 2015: 2,440
Earnings per share
Basic 2019: $3.99 2018: $4.00 2017: $3.58 2016: $1.62 2015: $2.61
Diluted 2019: $3.97 2018: $3.99 2017: $3.57 2016: $1.62 2015: $2.60
Adjusted earnings per share 5
Basic 2019: $4.17 2018: $4.35 2017: $3.69 2016: $2.78 2015: $2.78
Diluted 2019: $4.15 2018: $4.34 2017: $3.68 2016: $2.77 2015: $2.77
Statements of Financial Position:
Assets
Property, plant and equipment 2019: 13,934 2018: 11,780 2017: 11,143 2016: 10,749 2015: 10,997
Goodwill 2019: 3,923 2018: 3,905 2017: 3,905 2016: 3,905 2015: 3,905
Intangible assets 2019: 8,905 2018: 7,205 2017: 7,244 2016: 7,130 2015: 7,243
Investments 2019: 2,830 2018: 2,134 2017: 2,561 2016: 2,174 2015: 2,271
Other assets 2019: 7,427 2018: 6,894 2017: 5,637 2016: 4,384 2015: 4,773
Total assets 2019: 37,019 2018: 31,918 2017: 30,490 2016: 28,342 2015: 29,189
Liabilities and Shareholders' Equity
Long-term liabilities 2019: 21,639 2018: 16,903 2017: 16,111 2016: 17,960 2015: 18,536
Current liabilities 2019: 5,964 2018: 6,836 2017: 6,883 2016: 5,113 2015: 5,017
Total liabilities 2019: 27,603 2018: 23,739 2017: 22,994 2016: 23,073 2015: 23,553
Shareholders' equity 2019: 9,416 2018: 8,179 2017: 7,496 2016: 5,269 2015: 5,636
Total liabilities and shareholders' equity 2019: 37,019 2018: 31,918 2017: 30,490 2016: 28,342 2015: 29,189
Subscriber count results (000s) 4
Wireless subscribers 2019: 10,840 2018: 10,783 2017: 10,482 2016: 10,274 2015: 9,877
Internet subscribers 2019: 2,534 2018: 2,430 2017: 2,321 2016: 2,145 2015: 2,048
Television subscribers 2019: 1,579 2018: 1,685 2017: 1,740 2016: 1,820 2015: 1,896
Phone subscribers 2019: 1,072 2018: 1,116 2017: 1,108 2016: 1,094 2015: 1,090
Additional Wireless metrics 4
Postpaid churn (monthly) 2019: 1.11% 2018: 1.10% 2017: 1.2% 2016: 1.23% 2015: 1.27%
Blended ABPU (monthly) 6 2019: $66.23 2018: $64.74 2017: $62.31 2016: 2015:
Blended ARPU (monthly) 2019: $55.49 2018: $55.64 2017: $54.23 2016: $60.42 2015: $59.71
Additional consolidated metrics
Revenue growth 2019: -% 2018: 5% 2017: 5% 2016: 2% 2015: 4%
Adjusted EBITDA growth 2019: 4% 2018: 9% 2017: 9% 2016: 1% 2015: 0%
Dividends declared per share 2019: $2.00 2018: $1.92 2017: $1.92 2016: $1.92 2015: $1.92
Dividend payout ratio of net income 4 2019: 50.0% 2018: 48.0% 2017: 53.6% 2016: 118.3% 2015: 73.6%
Dividend payout ratio of free cash flow 4,5 2019: 44.9% 2018: 55.8% 2017: 58.6% 2016: 57.9% 2015: 58.9%
Return on assets 4 2019: 5.5% 2018: 6.5% 2017: 6.1% 2016: 2.9% 2015: 4.6%
Debt leverage ratio 5 2019: 2.9 2018: 2.5 2017: 2.7 2016: 3.0 2015: 3.1