XML 85 R32.htm IDEA: XBRL DOCUMENT
v3.25.0.1

long-term debt | 12 Months Ended
--- | ---
Dec. 31, 2024
long-term debt |
long-term debt |
26 | long-term debt
(a)Details of long-term debt ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31 (millions) |  | Note |  | 2024 |  | 2023
Senior unsecured | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TELUS Corporation senior notes |  | (b) | ​ | $ | 22,077 | ​ | $ | 20,301
TELUS Corporation commercial paper |  | (c) | ​ | ​ | 1,404 | ​ |  | 1,021
TELUS Corporation credit facilities | ​ | (d) | ​ | ​ | — | ​ | ​ | 1,144
TELUS Communications Inc. debentures |  | (e) | ​ | ​ | 200 | ​ |  | 200
Secured | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TELUS International (Cda) Inc. credit facility |  | (f) | ​ | ​ | 1,703 | ​ |  | 1,781
Other | ​ | (g) | ​ | ​ | 588 | ​ | ​ | 288
​ | ​ | ​ | ​ | ​ | 25,972 | ​ | ​ | 24,735
Lease liabilities | ​ | (h) | ​ | ​ | 2,882 | ​ | ​ | 2,614
Long-term debt |  |  | ​ | $ | 28,854 | ​ | $ | 27,349
Current |  |  | ​ | $ | 3,246 | ​ | $ | 3,994
Non-current |  |  | ​ | ​ | 25,608 | ​ |  | 23,355
Long-term debt |  |  | ​ | $ | 28,854 | ​ | $ | 27,349
​ (b)TELUS Corporation senior notes The notes are senior unsecured and unsubordinated obligations, ranking equally with all of our existing and future unsecured unsubordinated obligations, are senior in right of payment to all of our existing and future subordinated indebtedness, and are effectively subordinated to all existing and future obligations of, or guaranteed by, our subsidiaries. The notes’ indentures contain covenants that, among other things, limit our ability, and that of certain of our subsidiaries, to: grant security in respect of indebtedness; enter into sale-leaseback transactions; and incur new indebtedness. Interest is payable semi-annually. Upon a change in control triggering event, as defined in the supplemental trust indenture, we must offer to repurchase the notes at a price equal to 101% of their principal amount plus accrued and unpaid interest to the repurchase date. The notes issued before September 2023 are redeemable at our option, in whole at any time, or in part from time to time, on not fewer than 30 days’ and not more than 60 days’ prior notice before their respective maturity dates; for notes issued subsequent to August 2023, the notice period is not fewer than 10 days’ and not more than 60 days’ prior notice. On or after the respective redemption present value spread cessation dates set out in the table below, the notes issued before September 2023 are redeemable at our option, in whole but not in part, on not fewer than 30 days’ and not more than 60 days’ prior notice, at redemption prices equal to 100% of their principal amounts; for notes issued subsequent to August 2023, the notice period is not fewer than 10 days’ and not more than 60 days’ prior notice. Accrued and unpaid interest, if any, will be paid to the date fixed for redemption. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Redemption present
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Principal face amount | ​ | value spread
​ |  | ​ |  | ​ |  | ​ | ​ |  | Effective |  | ​ | ​ |  | Outstanding at |  | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Issue | ​ | interest | ​ | Originally | ​ | financial | ​ | Basis | ​ | Cessation
Series | ​ | Issued | ​ | Maturity | ​ | price | ​ | rate 1 | ​ | issued | ​ | statement date | ​ | points 2 |  | date
3.35% Notes, Series CK |  | April 2013 |  | April 2024 | ​ | $ | 994.35 | ​ | 3.41 | % | $ | 1.1 | billion | $ | NIL | ​ | 36 | ​ | Jan. 2, 2024
3.75% Notes, Series CQ |  | September 2014 |  | January 2025 | ​ | $ | 997.75 | ​ | 3.78 | % | $ | 800 | million | $ | 800 | million | 38.5 | ​ | Oct. 17, 2024
3.75% Notes, Series CV |  | December 2015 |  | March 2026 | ​ | $ | 992.14 | ​ | 3.84 | % | $ | 600 | million | $ | 600 | million | 53.5 | ​ | Dec. 10, 2025
2.75% Notes, Series CZ | ​ | July 2019 | ​ | July 2026 | ​ | $ | 998.73 | ​ | 2.77 | % | $ | 800 | million | $ | 800 | million | 33 | ​ | May 8, 2026
2.80% U.S. Dollar Notes 3 |  | September 2016 | ​ | February 2027 | ​ | US$ | 991.89 | ​ | 2.89 | % | US$ | 600 | million | US$ | 600 | million | 20 | ​ | Nov. 16, 2026
3.70% U.S. Dollar Notes 3 |  | March 2017 |  | September 2027 | ​ | US$ | 998.95 | ​ | 3.71 | % | US$ | 500 | million | US$ | 500 | million | 20 | ​ | June 15, 2027
2.35% Notes, Series CAC |  | May 2020 |  | January 2028 | ​ | $ | 997.25 | ​ | 2.39 | % | $ | 600 | million | $ | 600 | million | 48 | ​ | Nov. 27, 2027
3.625% Notes, Series CX |  | March 2018 |  | March 2028 | ​ | $ | 989.49 | ​ | 3.75 | % | $ | 600 | million | $ | 600 | million | 37 | ​ | Dec. 1, 2027
4.80% Notes, Series CAO | ​ | February 2024 | ​ | December 2028 | ​ | $ | 998.95 | ​ | 4.83 | % | $ | 700 | million | $ | 700 | million | 28 | ​ | Nov. 15, 2028
3.30% Notes, Series CY |  | April 2019 |  | May 2029 | ​ | $ | 991.75 | ​ | 3.40 | % | $ | 1.0 | billion | $ | 1.0 | billion | 43.5 | ​ | Feb. 2, 2029
5.00% Notes, Series CAI | ​ | September 2022 | ​ | September 2029 | ​ | $ | 995.69 | ​ | 5.07 | % | $ | 350 | million | $ | 350 | million | 46.5 | ​ | July 13, 2029
3.15% Notes, Series CAA |  | December 2019 |  | February 2030 | ​ | $ | 996.49 | ​ | 3.19 | % | $ | 600 | million | $ | 600 | million | 39.5 | ​ | Nov. 19, 2029
5.60% Notes, Series CAM | ​ | September 2023 | ​ | September 2030 | ​ | $ | 998.85 | ​ | 5.62 | % | $ | 500 | million | $ | 500 | million | 46 | ​ | July 9, 2030
2.05% Notes, Series CAD | ​ | October 2020 | ​ | October 2030 | ​ | $ | 997.93 | ​ | 2.07 | % | $ | 500 | million | $ | 500 | million | 38 | ​ | July 7, 2030
4.95% Notes, Series CAP | ​ | February 2024 | ​ | February 2031 | ​ | $ | 997.07 | ​ | 5.00 | % | $ | 600 | million | $ | 600 | million | 34.5 | ​ | Dec. 18, 2030
4.65% Notes, Series CAQ | ​ | August 2024 | ​ | August 2031 | ​ | $ | 999.11 | ​ | 4.66 | % | $ | 700 | million | $ | 700 | million | 38.5 | ​ | June 13, 2031
2.85% Sustainability-Linked Notes, Series CAF | ​ | June 2021 | ​ | November 2031 | ​ | $ | 997.52 | ​ | 2.88 | % 4 | $ | 750 | million | $ | 750 | million | 34 | ​ | Aug. 13, 2031
3.40% U.S. Dollar Sustainability-Linked Notes 3 | ​ | February 2022 | ​ | May 2032 | ​ | US$ | 997.13 | ​ | 3.43 | % 4 | US$ | 900 | million | US$ | 900 | million | 25 | ​ | Feb. 13, 2032
5.25% Sustainability-Linked Notes, Series CAG | ​ | September 2022 | ​ | November 2032 | ​ | $ | 996.73 | ​ | 5.29 | % 4 | $ | 1.1 | billion | $ | 1.1 | billion | 51.5 | ​ | Aug. 15, 2032
4.95% Sustainability-Linked Notes, Series CAJ |  | March 2023 |  | March 2033 | ​ | $ | 998.28 | ​ | 4.97 | % 4 | $ | 500 | million | $ | 500 | million | 54.5 | ​ | Dec. 28, 2032
5.75% Sustainability-Linked Notes, Series CAK |  | September 2023 |  | September 2033 | ​ | $ | 997.82 | ​ | 5.78 | % 4 | $ | 850 | million | $ | 850 | million | 52 | ​ | June 8, 2033
5.10% Sustainability-Linked Notes, Series CAN | ​ | February 2024 | ​ | February 2034 | ​ | $ | 996.44 | ​ | 5.15 | % 4 | $ | 500 | million | $ | 500 | million | 38.5 | ​ | Nov. 15, 2033
4.40% Notes, Series CL | ​ | April 2013 | ​ | April 2043 | ​ | $ | 997.68 | ​ | 4.41 | % | $ | 600 | million | $ | 600 | million | 47 | ​ | Oct. 1, 2042
5.15% Notes, Series CN | ​ | November 2013 | ​ | November 2043 | ​ | $ | 995.00 | ​ | 5.18 | % | $ | 400 | million | $ | 400 | million | 50 | ​ | May 26, 2043
4.85% Notes, Series CP | ​ | Multiple 5 | ​ | April 2044 | ​ | $ | 987.91 | 5 | 4.93 | % 5 | $ | 500 | million 5 | $ | 900 | million 5 | 46 | ​ | Oct. 5, 2043
4.75% Notes, Series CR | ​ | September 2014 | ​ | January 2045 | ​ | $ | 992.91 | ​ | 4.80 | % | $ | 400 | million | $ | 400 | million | 51.5 | ​ | July 17, 2044
4.40% Notes, Series CU | ​ | March 2015 | ​ | January 2046 | ​ | $ | 999.72 | ​ | 4.40 | % | $ | 500 | million | $ | 500 | million | 60.5 | ​ | July 29, 2045
4.70% Notes, Series CW | ​ | Multiple 6 | ​ | March 2048 | ​ | $ | 998.06 | 6 | 4.71 | % 6 | $ | 325 | million 6 | $ | 475 | million 6 | 58.5 | ​ | Sept. 6, 2047
4.60% U.S. Dollar Notes 3 | ​ | June 2018 | ​ | November 2048 | ​ | US$ | 987.60 | ​ | 4.68 | % | US$ | 750 | million | US$ | 750 | million | 25 | ​ | May 16, 2048
4.30% U.S. Dollar Notes 3 | ​ | May 2019 | ​ | June 2049 | ​ | US$ | 990.48 | ​ | 4.36 | % | US$ | 500 | million | US$ | 500 | million | 25 | ​ | Dec. 15, 2048
3.95% Notes, Series CAB | ​ | Multiple 7 | ​ | February 2050 | ​ | $ | 997.54 | 7 | 3.97 | % 7 | $ | 400 | million 7 | $ | 800 | million 7 | 57.5 | ​ | Aug. 16, 2049
4.10% Notes, Series CAE | ​ | April 2021 | ​ | April 2051 | ​ | $ | 994.70 | ​ | 4.13 | % | $ | 500 | million | $ | 500 | million | 53 | ​ | Oct. 5, 2050
5.65% Notes, Series CAH | ​ | September 2022 | ​ | September 2052 | ​ | $ | 996.13 | ​ | 5.68 | % | $ | 550 | million | $ | 550 | million | 61.5 | ​ | Mar. 13, 2052
5.95% Notes, Series CAL | ​ | September 2023 | ​ | September 2053 | ​ | $ | 992.67 | ​ | 6.00 | % | $ | 400 | million | $ | 400 | million | 61.5 | ​ | Mar. 8, 2053
​
1 | The effective interest rate represents the yield the notes would provide to an initial debt holder if held to maturity and, in respect of sustainability-linked notes, no trigger events or MFN step-ups occur.
2 | For Canadian dollar-denominated notes, the redemption price is the greater of (i) the present value of the notes discounted at the Government of Canada yield plus the redemption present value spread calculated over the period to the cessation date, or (ii) 100% of the principal amount thereof.
For U.S. dollar-denominated notes, the redemption price is the greater of (i) the present value of the notes discounted at the U.S. Adjusted Treasury Rate (at the U.S. Treasury Rate for the 3.40% U.S. Dollar Sustainability-Linked Notes) plus the redemption present value spread calculated over the period to the cessation date, or (ii) 100% of the principal amount thereof. ​
3 | We have entered into foreign exchange derivatives (cross currency interest rate exchange agreements) that effectively convert the principal payments and interest obligations to Canadian dollar obligations as follows:
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Canadian dollar |  | ​ | ​
​ | ​ | Interest rate | ​ | equivalent | ​ | Exchange
Series | ​ | fixed at | ​ | principal | ​ | rate
2.80% U.S. Dollar Notes |  | 2.95 | % | $ | 792 | million | $ | 1.3205
3.70% U.S. Dollar Notes |  | 3.41 | % | $ | 667 | million | $ | 1.3348
3.40% U.S. Dollar Sustainability-Linked Notes | ​ | 3.89 | % | $ | 1,148 | million | $ | 1.2753
4.60% U.S. Dollar Notes |  | 4.41 | % | $ | 974 | million | $ | 1.2985
4.30% U.S. Dollar Notes |  | 4.27 | % | $ | 672 | million | $ | 1.3435
​
4 | If we have not obtained a sustainability performance target verification assurance certificate for the fiscal year ending December 31, 2030, the sustainability-linked notes will incur increased interest rates from the trigger date through to their individual maturities. The interest rate on certain sustainability-linked notes may also increase (MFN step-up) if we fail to meet additional sustainability and/or environmental, social or governance targets specified in a sustainability-linked bond; the interest rate on these notes, however, in no event can exceed the initial rate by more than the combined MFN step-up and trigger event limit, regardless of whether as a result of not obtaining a sustainability performance target verification assurance certificate and/or any targets provided for in one or more future sustainability-linked bonds. Similarly, if we redeem any sustainability-linked notes without having obtained a sustainability performance target verification assurance certificate at the end of the fiscal year immediately preceding the redemption date, any interest accrued will be determined using the following rates:
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Sustainability performance target verification assurance certificate |  | Aggregate |  | Redemption |
​ |  | ​ |  | ​ |  | Post-trigger |  | MFN step‑up | ​ | interest accrual |
​ | ​ | ​ | ​ | ​ | ​ | event | ​ | and trigger | ​ | rate if certificate |
Series | ​ | Fiscal year | ​ | Trigger date | ​ | interest rate | ​ | event limit | ​ | not obtained |
2.85% Sustainability-Linked Notes, Series CAF |  | 2030 |  | Nov. 14, 2030 |  | 3.85 | % | N/A |  | 3.85 | %
3.40% U.S. Dollar Sustainability-Linked Notes |  | 2030 |  | Nov. 14, 2030 |  | 4.40 | % | 1.50 | % | 4.40 | %
5.25% Sustainability-Linked Notes, Series CAG |  | 2030 |  | Nov. 15, 2030 |  | 6.00 | % | 1.50 | % | 6.00 | %
4.95% Sustainability-Linked Notes, Series CAJ | ​ | 2030 | ​ | Mar. 28, 2031 | ​ | 5.70 | % | 1.50 | % | 5.70 | %
5.75% Sustainability-Linked Notes, Series CAK | ​ | 2030 | ​ | Apr. 30, 2031 | ​ | 6.35 | % | 1.20 | % | 6.35 | %
5.10% Sustainability-Linked Notes, Series CAN |  | 2030 |  | Feb. 15, 2031 |  | 5.60 | % | 1.00 | % | 5.60 | %
​
5 | $500 million of 4.85% Notes, Series CP were issued in April 2014 at an issue price of $998.74 and an effective interest rate of 4.86%. This series of notes was reopened in December 2015 and a further $400 million of notes were issued at an issue price of $974.38 and an effective interest rate of 5.02%.
6 | $325 million of 4.70% Notes, Series CW were issued in March 2017 at an issue price of $990.65 and an effective interest rate of 4.76%. This series of notes was reopened in February 2018 and a further $150 million of notes were issued in March 2018 at an issue price of $1,014.11 and an effective interest rate of 4.61%.
7 | $400 million of 3.95% Notes, Series CAB were issued in December 2019 at an issue price of $991.54 and an effective interest rate of 4.00%. This series of notes was reopened in May 2020 and a further $400 million of notes were issued at an issue price of $1,003.53 and an effective interest rate of 3.93%.
(c)TELUS Corporation commercial paper TELUS Corporation has an unsecured commercial paper program, backstopped by our $2.75 billion revolving syndicated credit facility (see (d)), which is used for general corporate purposes, including capital expenditures and investments. Subject to conditions related to debt ratings, this program allows us to issue commercial paper up to a maximum aggregate equivalent amount at any one time of $2.2 billion (US$1.5 billion maximum). We use foreign currency forward contracts to manage currency risk arising from U.S. dollar-denominated commercial paper. Although commercial paper debt matures within one year, we classify it as a current portion of long-term debt as these amounts are supported by the revolving credit facility and we expect that they will continue to be supported by the revolving credit facility, which has no repayment requirements within the next year. As at December 31, 2024, we had $1.4 billion (2023 - $1.0 billion) of commercial paper outstanding, all of which was denominated in U.S. dollars (US$1.0 billion; 2023 - US$0.8 billion), with an effective average interest rate of 4.9%, maturing through June 2025.
(d) | TELUS Corporation credit facilities
As at December 31, 2024, TELUS Corporation had a $2.75 billion unsecured revolving syndicated bank credit facility, expiring on July 14, 2028 (unchanged from December 31, 2023), with a syndicate of financial institutions, which is used for general corporate purposes, including the backstopping of commercial paper. As at June 30, 2024, TELUS Corporation had repaid a $1.1 billion unsecured non-revolving syndicated bank credit facility, which was to be used for general corporate purposes and was to mature July 9, 2024; as at December 31, 2023, we had drawn $1.1 billion on the facility. The TELUS Corporation credit facilities incur interest at prime rate, U.S. Dollar Base Rate, Canadian Overnight Repo Rate Average (CORRA) or term secured overnight financing rate (SOFR) (as such terms are used or defined in the credit facilities), plus applicable margins. The credit facilities include customary representations, warranties and covenants, including two financial quarter-end ratio tests: our leverage ratio must not exceed 4.25:1.00; and our operating cash flow to interest expense ratio must not be less than 2.00:1.00, all as defined in the credit facilities. TELUS Corporation’s continued access to these credit facilities does not depend upon TELUS Corporation maintaining a specific credit rating. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31 (millions) |  | 2024 |  | 2023
Net available |  | $ | 1,346 |  | $ | 1,729
Backstop of commercial paper | ​ | ​ | 1,404 | ​ | ​ | 1,021
Gross available revolving $2.75 billion bank credit facility |  | $ | 2,750 |  | $ | 2,750
​ As at December 31, 2024, we had $62 million of letters of credit outstanding (2023 – $60 million), issued under various uncommitted facilities. These letter of credit facilities are in addition to our ability to provide letters of credit under our committed revolving bank credit facility. Additionally, we had arranged $338 million of incremental letters of credit to allow us to participate in the Innovation, Science and Economic Development Canada 3800 MHz band spectrum auction that was held in October-November 2023, as discussed further in Note 18(a). These incremental letters of credit were extinguished concurrent with when we fully funded the purchase of the spectrum licences.
(e) | TELUS Communications Inc. debentures
The 8.80% Series B Debentures were issued in September 1995 for $200 million at a price of $995.10 by AGT Limited (a predecessor corporation of TELUS Communications Inc.), and are governed by a Trust Indenture dated August 24, 1994, and a supplemental trust indenture dated September 22, 1995. Interest is payable semi-annually. Before their maturity in September 2025, we may redeem these debentures at our option, in whole at any time, or in part from time to time, on not fewer than 30 days’ prior notice. The redemption price is the greater of (i) the present value of the debentures discounted at the Government of Canada yield plus a 15 basis point redemption present value spread, or (ii) 100% of the principal amount. Any accrued and unpaid interest will be paid to the redemption date. These debentures became obligations of TELUS Communications Inc. pursuant to an amalgamation on January 1, 2001, are not secured and are governed by certain covenants, including a negative pledge and a limitation on additional debt issuance, subject to a debt to capitalization ratio and an interest coverage test. TELUS Corporation has guaranteed the payment of the debentures’ principal and interest since June 12, 2009.
(f) | TELUS International (Cda) Inc. credit facility
As at December 31, 2024 and 2023, TELUS International (Cda) Inc. had a credit facility, secured by its assets, expiring on January 3, 2028, with a syndicate of financial institutions, including TELUS Corporation. The facility is comprised of US$800 million in revolving components and US$1.2 billion in amortizing term loan components, with TELUS Corporation as approximately 7.2% lender in both components. The facility is non-recourse to TELUS Corporation. The outstanding revolving components and term loan components had a weighted average interest rate of 6.5% as at December 31, 2024. ​ The TELUS International (Cda) Inc. credit facility bears interest at prime rate, U.S. Dollar Base Rate or term secured overnight financing rate (SOFR) (all such terms as used or defined in the credit facility), plus applicable margins. The credit facility includes customary representations, warranties and covenants, with two financial quarter-end ratio tests: the TELUS International (Cda) Inc. quarter-end net debt to operating cash flow ratio must not exceed 3.75:1.00 through fiscal 2025 (2023 – fiscal 2024), and 3.25:1.00 thereafter; and the quarter-end operating cash flow to debt service (interest and scheduled principal repayment) ratio must not be less than 1.50:1.00; all as defined in the credit facility. The term loan components are subject to amortization schedules which require that 5% of the principal advanced be repaid each year of the term of the agreement, with the balance due at maturity. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Revolving | ​ | Term loan | ​ | ​ | ​
As at December 31 (millions) |  | components |  | components 1 |  | Total
2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available | ​ | US$ | 611 | ​ | US$ | — | ​ | US$ | 611
Outstanding | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Due to other | ​ | ​ | 175 | ​ | ​ | 1,017 | ​ | ​ | 1,192
Due to TELUS Corporation | ​ | ​ | 14 | ​ | ​ | 78 | ​ | ​ | 92
​ | ​ | US$ | 800 | ​ | US$ | 1,095 | ​ | US$ | 1,895
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available | ​ | US$ | 492 | ​ | US$ | — | ​ | US$ | 492
Outstanding | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Due to other | ​ | ​ | 286 | ​ | ​ | 1,072 | ​ | ​ | 1,358
Due to TELUS Corporation | ​ | ​ | 22 | ​ | ​ | 83 | ​ | ​ | 105
​ | ​ | US$ | 800 | ​ | US$ | 1,155 | ​ | US$ | 1,955
​
1 | Relative to amounts owed to the syndicate of financial institutions, excluding TELUS Corporation, we have entered into foreign exchange derivatives (cross currency interest rate exchange agreements) that effectively convert an amortizing amount of US$409 of principal payments, and associated interest obligations, to European euro obligations with an effective fixed interest rate of 2.6% and an effective fixed exchange rate of US$1.088:€1.00 on the principal amount; the initial notional amount of these foreign exchange derivatives was US$448. These have been accounted for as a net investment hedge in a foreign operation (see Note 4).
(g) | Other
Other liabilities incur interest at 4.4%, are secured by the AWS-4 spectrum licences associated with these other liabilities, and are subject to amortization schedules, so that the principal is repaid over the periods to maturity, the last period ending March 31, 2035.
(h) | Lease liabilities
Lease liabilities are subject to amortization schedules, so that the principal is repaid over various periods, which include reasonably expected renewals. The weighted average interest rate on lease liabilities was approximately 6.1% as at December 31, 2024.
(i) | Long-term debt maturities
Anticipated requirements for long-term debt repayments, calculated for long-term debt owed as at December 31, 2024, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Composite long-term debt denominated in | ​ | Canadian dollars | ​ | U.S. dollars | ​ | Other currencies | ​ |  | ​
​ | ​ | Long-term | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Long-term | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | debt, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | debt, | ​ | ​ | ​ | ​ | Currency swap agreement | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | excluding | ​ | Leases | ​ | ​ | ​ | ​ | excluding | ​ | Leases | ​ | amounts to be exchanged | ​ | ​ | ​ | ​ | Leases | ​ |  | ​
Years ending December 31 (millions) |  | leases |  | (Note 19) |  | Total |  | leases |  | (Note 19) |  | (Receive) 1 |  | Pay |  | Total |  | (Note 19) |  | Total
2025 | ​ | $ | 1,047 | ​ | $ | 579 | ​ | $ | 1,626 | ​ | $ | 1,485 | ​ | $ | 36 | ​ | $ | (1,464) | ​ | $ | 1,426 | ​ | $ | 1,483 | ​ | $ | 57 | ​ | $ | 3,166
2026 | ​ | ​ | 1,450 | ​ | ​ | 494 | ​ | ​ | 1,944 | ​ |  | 80 | ​ | ​ | 34 | ​ |  | (32) | ​ |  | 32 | ​ |  | 114 | ​ | ​ | 47 | ​ |  | 2,105
2027 | ​ | ​ | 52 | ​ | ​ | 394 | ​ | ​ | 446 | ​ | ​ | 1,663 | ​ | ​ | 30 | ​ | ​ | (1,615) | ​ | ​ | 1,491 | ​ | ​ | 1,569 | ​ | ​ | 35 | ​ | ​ | 2,050
2028 | ​ | ​ | 1,955 | ​ | ​ | 237 | ​ | ​ | 2,192 | ​ | ​ | 1,475 | ​ | ​ | 21 | ​ | ​ | (492) | ​ | ​ | 469 | ​ | ​ | 1,473 | ​ | ​ | 28 | ​ | ​ | 3,693
2029 | ​ | ​ | 1,408 | ​ | ​ | 158 | ​ | ​ | 1,566 | ​ | ​ | — | ​ | ​ | 25 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25 | ​ | ​ | 20 | ​ | ​ | 1,611
2030-2034 | ​ | ​ | 6,902 | ​ | ​ | 301 | ​ | ​ | 7,203 | ​ | ​ | 1,295 | ​ | ​ | 28 | ​ | ​ | (1,295) | ​ | ​ | 1,148 | ​ | ​ | 1,176 | ​ | ​ | 33 | ​ | ​ | 8,412
Thereafter | ​ | ​ | 5,541 | ​ | ​ | 304 | ​ | ​ | 5,845 | ​ | ​ | 1,799 | ​ | ​ | — | ​ | ​ | (1,799) | ​ | ​ | 1,646 | ​ | ​ | 1,646 | ​ | ​ | 6 | ​ | ​ | 7,497
Future cash outflows in respect of composite long-term debt principal repayments | ​ | ​ | 18,355 | ​ | ​ | 2,467 | ​ | ​ | 20,822 | ​ | ​ | 7,797 | ​ | ​ | 174 | ​ | ​ | (6,697) | ​ | ​ | 6,212 | ​ | ​ | 7,486 | ​ | ​ | 226 | ​ | ​ | 28,534
Future cash outflows in respect of associated interest and like carrying costs 2 | ​ | ​ | 9,038 | ​ | ​ | 574 | ​ | ​ | 9,612 | ​ | ​ | 2,762 | ​ | ​ | 76 | ​ | ​ | (2,501) | ​ | ​ | 2,230 | ​ | ​ | 2,567 | ​ | ​ | 60 | ​ | ​ | 12,239
Undiscounted contractual maturities (Note 4(c)) | ​ | $ | 27,393 | ​ | $ | 3,041 | ​ | $ | 30,434 | ​ | $ | 10,559 | ​ | $ | 250 | ​ | $ | (9,198) | ​ | $ | 8,442 | ​ | $ | 10,053 | ​ | $ | 286 | ​ | $ | 40,773
​
1 | Where applicable, cash flows reflect foreign exchange rates as at December 31, 2024.
2 | Future cash outflows in respect of associated interest and like carrying costs for commercial paper and amounts drawn under our credit facilities (if any) have been calculated based upon the rates in effect as at December 31, 2024.

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of non-current borrowings. + References No definition available. + Details
Name: | tu_DisclosureOfLongTermBorrowingsExplanatory
Namespace Prefix: | tu_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration