(a) | TELUS Corporation Common Share capital - general |
Our authorized share capital is as follows: | | | | | | | | | June 30, | | December 31, | As at | | 2024 | | 2023 | First Preferred Shares | | 1 | billion | | 1 | billion | Second Preferred Shares | | 1 | billion | | 1 | billion | Common Shares | | 4 | billion | | 4 | billion |
Only holders of Common Shares may vote at our general meetings, with each holder of Common Shares entitled to one vote per Common Share held at all such meetings so long as not less than 66-2/3% of the issued and outstanding Common Shares are owned by Canadians. With respect to priority in the payment of dividends and in the distribution of assets in the event of our liquidation, dissolution or winding-up, whether voluntary or involuntary, or any other distribution of our assets among our shareholders for the purpose of winding up our affairs, preferences are as follows: First Preferred Shares; Second Preferred Shares; and finally Common Shares. As at June 30, 2024, approximately 105 million Common Shares were reserved for issuance from Treasury under a dividend reinvestment and share purchase plan (see Note 13(b)); approximately 46 million Common Shares were reserved for issuance from Treasury under a restricted share unit plan (see Note 14(b)); and approximately 12 million Common Shares were reserved for issuance from Treasury under a share option plan (see Note 14(d)). (b)Subsidiary with significant non-controlling interest Our TELUS International (Cda) Inc. subsidiary is incorporated under the Business Corporations Act (British Columbia) and has geographically dispersed operations, with its principal places of business located in Asia, Central America, Europe and North America. Changes in our economic and voting interests during the six-month periods ended June 30, 2024 and 2023, and which are included in the Consolidated statement of changes in owners’ equity, are set out in the following table. | | | | | | | | | | | | Economic interest 1 | | Voting interest 1 | | | | 2024 | | 2023 | | 2024 | | 2023 | | Interest in TELUS International (Cda) Inc., beginning of period | | 56.0 | % | 56.6 | % | 85.4 | % | 72.4 | % | Effect of | | | | | | | | | | Issue of TELUS International (Cda) Inc. subordinate voting shares as consideration in business acquisition | | — | | (1.4) | | — | | (0.2) | | TELUS Corporation acquisition of shares from non-controlling interests 2 | | — | | 0.9 | | — | | 1.2 | | Share-based compensation and other | | (0.2) | | — | | — | | — | | Non-controlling interests conversion of multiple voting shares to subordinate voting shares | | — | | — | | 1.3 | | — | | Interest in TELUS International (Cda) Inc., end of period | | 55.8 | % | 56.1 | % | 86.7 | % | 73.4 | % |
| 1 | Due to the voting rights associated with the multiple voting shares held by TELUS Corporation, our economic and voting interests differ. |
| 2 | Acquisition of shares from non-controlling interests of $NIL (2023 – $57 million), of which $NIL (2023 – $32 million) was charged to amounts recorded in owners’ equity for contributed surplus and the balance was charged to non-controlling interests. |
Summarized financial information Summarized financial information of our TELUS International (Cda) Inc. subsidiary is set out in the accompanying table. | | | | | | | | | | | | June 30, | | June 30, | | December 31, | As at, or for the periods ended, ($ in millions) 1 | | 2024 | | 2023 | | 2023 | Statement of financial position 1 | | | | | | | | | | Current assets | | $ | 1,265 | | | | | $ | 1,122 | Non-current assets | | $ | 5,424 | | | | | $ | 5,395 | Current liabilities | | $ | 1,172 | | | | | $ | 990 | Non-current liabilities | | $ | 2,702 | | | | | $ | 2,829 | Statement of income and other comprehensive income | | | | | | | | | | THREE-MONTH | | | | | | | | | | Revenue and other income | | $ | 936 | | $ | 896 | | | | Net income (loss) | | $ | (5) | | $ | (8) | | | | Comprehensive income (loss) | | $ | 19 | | $ | (67) | | | | SIX-MONTH | | | | | | | | | | Revenue and other income | | $ | 1,860 | | $ | 1,824 | | | | Net income | | $ | 33 | | $ | 10 | | | | Comprehensive income (loss) | | $ | 102 | | $ | (31) | | | | Statement of cash flows | | | | | | | | | | THREE-MONTH | | | | | | | | | | Cash provided by operating activities | | $ | 125 | | $ | 78 | | | | Cash used by investing activities | | $ | (38) | | $ | (34) | | | | Cash provided (used) by financing activities | | $ | (88) | | $ | (43) | | | | SIX-MONTH | | | | | | | | | | Cash provided by operating activities | | $ | 250 | | $ | 143 | | | | Cash used by investing activities | | $ | (72) | | $ | (1,203) | | | | Cash provided (used) by financing activities | | $ | (143) | | $ | 1,082 | | | |
| 1 | As required by IFRS-IASB, this summarized financial information excludes inter-company eliminations. |
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