EX-99.5 6 995-selected_q119.htm BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION

Exhibit 99.5

NOTICE OF RELIANCE
SECTION 13.4 OF NATIONAL INSTRUMENT 51-102
CONTINUOUS DISCLOSURE OBLIGATIONS

To: | Alberta Securities Commission British Columbia Securities Commission Manitoba Securities Commission Financial and Consumer Services Commission, New Brunswick Office of the Superintendent of Securities, Newfoundland and Labrador Nova Scotia Securities Commission Ontario Securities Commission Office of the Superintendent of Securities, Prince Edward Island Autorité des marchés financiers Financial and Consumer Affairs Authority of Saskatchewan Toronto Stock Exchange

Notice is hereby given that Bell Canada relies on the continuous disclosure documents filed by BCE Inc. pursuant to the exemption from the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) provided in Section 13.4 of NI 51-102.

The continuous disclosure documents of BCE Inc. can be found for viewing in electronic format at www.sedar.com.

Attached to this notice and forming part thereof is the consolidating summary financial information for BCE Inc. as required by Section 13.4 of NI 51-102.

Dated: May 2, 2019

BELL CANADA
By: | (signed) Thierry Chaumont
Name: | Thierry Chaumont
Title: | Senior Vice-President and Controller

BELL CANADA

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION (1)
For the periods ended March 31, 2019 and 2018
(in millions of Canadian dollars)

BCE Inc. fully and unconditionally guarantees the payment obligations of its 100% owned subsidiary Bell Canada under the public debt issued by Bell Canada. Accordingly, the following summary financial information is provided by Bell Canada in compliance with the requirements of section 13.4 of National Instrument 51-102 (Continuous Disclosure Obligations) providing for an exemption for certain credit support issuers. The tables below contain selected summary financial information for (i) BCE Inc. (as credit supporter), (ii) Bell Canada (as credit support issuer) on a consolidated basis, (iii) BCE Inc.’s subsidiaries, other than Bell Canada, on a combined basis, (iv) consolidating adjustments, and (v) BCE Inc. and all of its subsidiaries on a consolidated basis, in each case for the periods indicated. Such summary financial information for BCE Inc. and Bell Canada and all other subsidiaries is intended to provide investors with meaningful and comparable financial information about BCE Inc. and its subsidiaries. This summary financial information should be read in conjunction with BCE Inc.’s audited consolidated financial statements for the year ended December 31, 2018 and the unaudited consolidated interim financial report for the three months ended March 31, 2019.

For the periods ended March 31:

| BCE INC. (“CREDIT SUPPORTER”)(2) | BELL CANADA CONSOLIDATED (“CREDIT SUPPORT ISSUER”) | SUBSIDIARIES OF BCE INC. OTHER THAN BELL CANADA(3) | CONSOLIDATING ADJUSTMENTS(4) | BCE INC. CONSOLIDATED
| 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018
Operating revenues | — | — | 5,734 | 5,591 | — | — | — | (1) | 5,734 | 5,590
Net earnings from continuing operations attributable to owners | 778 | 697 | 773 | 687 | 33 | 35 | (806) | (722) | 778 | 697
Net earnings attributable to owners | 778 | 697 | 773 | 687 | 33 | 35 | (806) | (722) | 778 | 697

As at March 31, 2019 and December 31, 2018, respectively:

| BCE INC. (“CREDIT SUPPORTER”)(2) | BELL CANADA CONSOLIDATED (“CREDIT SUPPORT ISSUER”) | SUBSIDIARIES OF BCE INC. OTHER THAN BELL CANADA(3) | CONSOLIDATING ADJUSTMENTS(4) | BCE INC. CONSOLIDATED
| Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018
Total Current Assets | 572 | 576 | 7,856 | 7,400 | 317 | 286 | (2,711) | (2,469) | 6,034 | 5,793
Total Non-current Assets | 22,526 | 22,429 | 47,105 | 44,616 | 52 | 53 | (15,877) | (15,791) | 53,806 | 51,307
Total Current Liabilities | 2,771 | 2,531 | 10,861 | 10,317 | 63 | 50 | (2,711) | (2,469) | 10,984 | 10,429
Total Non-current Liabilities | 98 | 113 | 27,608 | 25,231 | 51 | 84 | 561 | 554 | 28,318 | 25,982

(1) | The summary financial information is prepared in accordance with International Financial Reporting Standards (IFRS) and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly-accountable enterprises. As required, BCE adopted IFRS 16 – Leases effective January 1, 2019 using a modified retrospective approach whereby the financial results of prior periods presented were not restated and continue to be reported under IAS 17 – Leases, as permitted by IFRS 16.
(2) | This column accounts for investments in all subsidiaries of BCE Inc. under the equity method.
(3) | This column accounts for investments in all subsidiaries of BCE Inc. (other than Bell Canada) on a consolidated basis.
(4) | This column includes the necessary amounts to eliminate the intercompany balances between BCE Inc., Bell Canada and other subsidiaries and other adjustments to arrive at the information for BCE Inc. on a consolidated basis.