share-based compensation (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| share-based compensation |
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| Schedule of share-based compensation expense |
| | | | | | | | | | | | | | | | | | | | | Periods ended June 30 (millions) | | | | 2024 | | 2023 | | | | | | | | Associated | | Statement | | | | | Associated | | Statement | | | | | Employee | | operating | | of cash | | Employee | | operating | | of cash | | | | | benefits | | cash | | flows | | benefits | | cash | | flows | | | Note | | expense 1 | | outflows | | adjustment | | expense | | outflows | | adjustment | THREE-MONTH | | | | | | | | | | | | | | | | | | | | | Restricted share units | | (b) | | $ | 42 | | $ | (3) | | $ | 39 | | $ | 30 | | $ | — | | $ | 30 | Employee share purchase plan | | (c) | | | 8 | | | (8) | | | — | | | 12 | | | (12) | | | — | | | | | $ | 50 | | $ | (11) | | $ | 39 | | $ | 42 | | $ | (12) | | $ | 30 | TELUS technology solutions | | | | $ | 37 | | $ | (9) | | $ | 28 | | $ | 39 | | $ | (12) | | $ | 27 | TELUS digital experience | | | | | 13 | | | (2) | | | 11 | | | 3 | | | — | | | 3 | | | | | $ | 50 | | $ | (11) | | $ | 39 | | $ | 42 | | $ | (12) | | $ | 30 | SIX-MONTH | | | | | | | | | | | | | | | | | | | | | Restricted share units | | (b) | | $ | 72 | | $ | (6) | | $ | 66 | | $ | 74 | | $ | (2) | | $ | 72 | Employee share purchase plan | | (c) | | | 16 | | | (16) | | | — | | | 23 | | | (23) | | | — | Share option awards | | (d) | | | — | | | — | | | — | | | 1 | | | — | | | 1 | | | | | $ | 88 | | $ | (22) | | $ | 66 | | $ | 98 | | $ | (25) | | $ | 73 | TELUS technology solutions | | | | $ | 73 | | $ | (18) | | $ | 55 | | $ | 76 | | $ | (24) | | $ | 52 | TELUS digital experience | | | | | 15 | | | (4) | | | 11 | | | 22 | | | (1) | | | 21 | | | | | $ | 88 | | $ | (22) | | $ | 66 | | $ | 98 | | $ | (25) | | $ | 73 |
| 1 | Within employee benefits expense (see Note 8) for the three-month and six-month periods ended June 30, 2024, restricted share units expense of $42 (2023 – $32) and $68 (2023 – $74), respectively, is presented as share-based compensation expense and the balance is included in restructuring costs (see Note 16) of the TELUS technology solutions segment. |
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| TELUS Corporation restricted share units |
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| share-based compensation |
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| Schedule of restricted share units |
| | | | | | | June 30, | | December 31, | As at | | 2024 | | 2023 | Restricted share units without market performance conditions | | | | | Restricted share units with service conditions only | | 9,348,363 | | 5,769,038 | Notional subset affected by non-market performance conditions | | 735,577 | | 429,281 | | | 10,083,940 | | 6,198,319 | Restricted share units with market performance conditions | | | | | Notional subset affected by relative total shareholder return performance condition | | 2,021,139 | | 1,191,563 | Number of non-vested restricted share units | | 12,105,079 | | 7,389,882 |
| | | | | | | | | | Number of restricted | | Weighted | | | share units 1 | | average | | | | | | | grant-date | | | Non-vested | | Vested | | fair value | THREE-MONTH PERIOD | | | | | | | | Outstanding, April 1, 2024 | | | | | | | | Non-vested | | 10,079,801 | | — | | $ | 26.70 | Vested | | — | | 32,745 | | $ | 24.40 | Granted | | | | | | | | Initial award | | 62,899 | | — | | $ | 22.21 | In lieu of dividends | | 175,316 | | 570 | | $ | 21.06 | Vested | | (57,877) | | 57,877 | | $ | 26.69 | Settled – in cash | | — | | (57,876) | | $ | 26.69 | Forfeited | | (176,199) | | — | | $ | 27.11 | Outstanding, June 30, 2024 | | | | | | | | Non-vested | | 10,083,940 | | — | | $ | 26.70 | Vested | | — | | 33,316 | | $ | 28.83 | SIX-MONTH PERIOD | | | | | | | | Outstanding, January 1, 2024 | | | | | | | | Non-vested | | 6,198,319 | | — | | $ | 28.68 | Vested | | — | | 32,521 | | $ | 28.97 | Granted | | | | | | | | Initial award | | 4,083,914 | | — | | $ | 24.06 | In lieu of dividends | | 274,081 | | 1,092 | | $ | 21.92 | Vested | | (117,986) | | 117,986 | | $ | 24.70 | Settled – in cash | | — | | (118,283) | | $ | 24.71 | Forfeited | | (354,388) | | — | | $ | 26.44 | Outstanding, June 30, 2024 | | | | | | | | Non-vested | | 10,083,940 | | — | | $ | 26.70 | Vested | | — | | 33,316 | | $ | 28.83 |
| 1 | Excluding the notional subset of restricted share units affected by the relative total shareholder return performance condition. |
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| TELUS International (Cda) Inc. restricted share units |
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| share-based compensation |
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| Schedule of restricted share units |
| | | | | | | | | | Number of restricted | | Weighted | | | share units | | average | | | | | | | grant-date | | | Non-vested | | Vested | | fair value | THREE-MONTH PERIOD | | | | | | | | Outstanding, April 1, 2024 | | 5,238,584 | | — | | US$ | 13.38 | Granted – initial award | | 9,333,403 | | — | | US$ | 5.82 | Vested | | (353,945) | | 353,945 | | US$ | 16.83 | Settled in equity | | — | | (353,945) | | US$ | 16.83 | Forfeited | | (262,797) | | — | | US$ | 23.01 | Outstanding, June 30, 2024 | | 13,955,245 | | — | | US$ | 8.05 | SIX-MONTH PERIOD | | | | | | | | Outstanding, January 1, 2024 | | 2,615,746 | | — | | US$ | 21.36 | Granted – initial award | | 12,594,420 | | 39,116 | | US$ | 6.64 | Vested | | (788,303) | | 788,303 | | US$ | 20.59 | Settled in equity | | — | | (827,419) | | US$ | 20.03 | Forfeited | | (466,618) | | — | | US$ | 23.31 | Outstanding, June 30, 2024 | | 13,955,245 | | — | | US$ | 8.05 |
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| TELUS Corporation share options |
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| share-based compensation |
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| Schedule of stock options |
| | | | | | | | | | | Periods ended June 30, 2024 | | Three months | | Six months | | | Number of | | Weighted | | Number of | | Weighted | | | share | | average share | | share | | average share | | | options | | option price 1 | | options | | option price 1 | Outstanding, beginning of period | | 1,690,001 | | $ | 22.38 | | 1,778,901 | | $ | 22.35 | Exercised 2 | | (6,000) | | $ | 21.25 | | (64,200) | | $ | 21.35 | Forfeited | | (62,700) | | $ | 21.79 | | (93,400) | | $ | 21.97 | Outstanding, end of period | | 1,621,301 | | $ | 22.41 | | 1,621,301 | | $ | 22.41 | Exercisable, end of period | | — | | | — | | 1,621,001 | | $ | 22.41 |
| 1 | The weighted average remaining contractual life is 3.0 years. |
| 2 | For the three-month and six-month periods ended June 30, 2024, the weighted average price at the dates of exercise were $22.31 and $23.76, respectively. |
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| TELUS International (Cda) Inc. share options |
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| share-based compensation |
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| Schedule of stock options |
| | | | | | | | | | | Periods ended June 30, 2024 | | Three months | | Six months | | | Number of | | Weighted | | Number of | | Weighted | | | share | | average share | | share | | average share | | | options | | option price 1 | | options | | option price 1 | Outstanding, beginning of period | | 2,452,934 | | US$ | 9.89 | | 2,536,783 | | US$ | 10.39 | Forfeited | | — | | US$ | — | | (83,849) | | US$ | 25.00 | Outstanding, end of period | | 2,452,934 | | US$ | 9.89 | | 2,452,934 | | US$ | 9.89 | Exercisable, end of period | | — | | | — | | 2,363,846 | | US$ | 9.32 |
| 1 | For 2,096,582 share options, the range of share option prices is US$4.87 – US$8.95 per TELUS International (Cda) Inc. subordinated voting share and the weighted average remaining contractual life is 2.5 years; for the balance of share options, the price is US$25.00 and the weighted average remaining contractual life is 6.7 years. |
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