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Financial and capital management (Tables) | 12 Months Ended
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Dec. 31, 2020
Financial Instruments [Abstract] |
Fair value details of financial instruments measured at amortized cost | The following table provides the fair value details of other financial instruments measured at amortized cost in the statements of financial position.
|  |  |  |  | December 31, 2020 | December 31, 2019
| CLASSIFICATION | FAIR VALUE METHODOLOGY | NOTE | CARRYING VALUE | FAIR VALUE | CARRYING VALUE | FAIR VALUE
CRTC deferral account obligation | Trade payables and other liabilities and other non-current liabilities | Present value of estimated future cash flows discounted using observable market interest rates | 22, | 27 | 82 |  | 86 |  | 82 |  | 85 |
Debt securities and other debt | Debt due within one year and long-term debt | Quoted market price of debt | 23, | 24 | 20,525 |  | 24,366 |  | 18,653 |  | 20,905 |
Disclosure of fair value measurement of assets | The following table provides the fair value details of financial instruments measured at fair value in the statements of financial position.
|  |  |  | FAIR VALUE OF ASSET (LIABILITY)
| CLASSIFICATION | NOTE | CARRYING VALUE | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OBSERVABLE MARKET DATA (LEVEL 2)(1) | NON-OBSERVABLE MARKET INPUTS (LEVEL 3)(2)
December 31, 2020 |  |  |  |  |  |
Publicly-traded and privately-held investments | Other non-current assets | 20 | 126 |  | 3 |  | — |  | 123 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities |  | (51) |  | — |  | (51) |  | — |
MLSE financial liability(3) | Trade payables and other liabilities | 22 | (149) |  | — |  | — |  | (149) |
Other | Other non-current assets and liabilities |  | 109 |  | — |  | 167 |  | (58) |
December 31, 2019 |  |  |  |  |  |
Publicly-traded and privately-held investments | Other non-current assets | 20 | 129 |  | 2 |  | — |  | 127 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities |  | 165 |  | — |  | 165 |  | — |
MLSE financial liability(3) | Trade payables and other liabilities | 22 | (135) |  | — |  | — |  | (135) |
Other | Other non-current assets and liabilities |  | 71 |  | 1 |  | 128 |  | (58) |
(1)Observable market data such as equity prices, interest rates, swap rate curves and foreign currency exchange rates. (2)Non-observable market inputs such as discounted cash flows and earnings multiples. A reasonable change in our assumptions would not result in a significant increase (decrease) to our level 3 financial instruments. (3)Represents BCE’s obligation to repurchase the Master Trust Fund’s 9% interest in MLSE at a price not less than an agreed minimum price, should the Master Trust Fund exercise its put option. The obligation to repurchase is marked to market each reporting period and any gain or loss is recorded in Other (expense) income in the income statements.
Disclosure of fair value measurement of liabilities | The following table provides the fair value details of financial instruments measured at fair value in the statements of financial position.
|  |  |  | FAIR VALUE OF ASSET (LIABILITY)
| CLASSIFICATION | NOTE | CARRYING VALUE | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OBSERVABLE MARKET DATA (LEVEL 2)(1) | NON-OBSERVABLE MARKET INPUTS (LEVEL 3)(2)
December 31, 2020 |  |  |  |  |  |
Publicly-traded and privately-held investments | Other non-current assets | 20 | 126 |  | 3 |  | — |  | 123 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities |  | (51) |  | — |  | (51) |  | — |
MLSE financial liability(3) | Trade payables and other liabilities | 22 | (149) |  | — |  | — |  | (149) |
Other | Other non-current assets and liabilities |  | 109 |  | — |  | 167 |  | (58) |
December 31, 2019 |  |  |  |  |  |
Publicly-traded and privately-held investments | Other non-current assets | 20 | 129 |  | 2 |  | — |  | 127 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities |  | 165 |  | — |  | 165 |  | — |
MLSE financial liability(3) | Trade payables and other liabilities | 22 | (135) |  | — |  | — |  | (135) |
Other | Other non-current assets and liabilities |  | 71 |  | 1 |  | 128 |  | (58) |
(1)Observable market data such as equity prices, interest rates, swap rate curves and foreign currency exchange rates. (2)Non-observable market inputs such as discounted cash flows and earnings multiples. A reasonable change in our assumptions would not result in a significant increase (decrease) to our level 3 financial instruments. (3)Represents BCE’s obligation to repurchase the Master Trust Fund’s 9% interest in MLSE at a price not less than an agreed minimum price, should the Master Trust Fund exercise its put option. The obligation to repurchase is marked to market each reporting period and any gain or loss is recorded in Other (expense) income in the income statements.
Change in allowance for doubtful accounts | The following table provides the change in allowance for doubtful accounts for trade receivables, including the current portion of wireless device financing plan receivables, which reflects an increase in 2020 mainly as a result of the impact of the COVID-19 pandemic.
| NOTE |  | 2020 | 2019 |  |
Balance, January 1 |  |  | (62) |  | (51) |  |  |
Additions |  |  | (134) |  | (114) |  |  |
Usage and reversals |  |  | 47 |  | 103 |  |  |
Balance, December 31 | 12 |  |  | (149) |  | (62) |  |  |
The following table provides the change in allowance for doubtful accounts for contract assets.
|  | NOTE |  | 2020 | 2019
Balance, January 1 |  |  | (68) |  | (73) |
Additions |  |  | (31) |  | (28) |
Usage and reversals |  |  | 40 |  | 33 |
Balance, December 31 |  |  | (59) |  | (68) |
Current |  |  | (29) |  | (32) |
Non-current |  |  | (30) |  | (36) |
Balance, December 31 | 14 |  | (59) |  | (68) |
Details on trade receivables not impaired | The following table provides further details on trade receivables, net of allowance for doubtful accounts.
AT DECEMBER 31 | 2020 | 2019
Trade receivables not past due | 2,574 |  | 2,082 |
Trade receivables past due |  |
| Under 60 days | 432 |  | 541 |
| 60 to 120 days | 214 |  | 232 |
| Over 120 days | 45 |  | 64 |
Trade receivables, net of allowance for doubtful accounts | 3,265 |  | 2,919 |
Maturity analysis for recognized financial liabilities | The following table is a maturity analysis for recognized financial liabilities at December 31, 2020 for each of the next five years and thereafter.
AT DECEMBER 31, 2020 | NOTE | 2021 | 2022 | 2023 | 2024 | 2025 | THERE- AFTER | TOTAL
Long-term debt |  | 24 | 221 |  | 1,785 |  | 1,665 |  | 1,278 |  | 2,125 |  | 13,540 |  | 20,614 |
Notes payable |  | 23 | 392 |  | — |  | — |  | — |  | — |  | — |  | 392 |
Lease liabilities (1) |  |  | 921 |  | 832 |  | 611 |  | 459 |  | 406 |  | 2,077 |  | 5,306 |
Loan secured by trade receivables |  | 23 | 1,050 |  | — |  | — |  | — |  | — |  | — |  | 1,050 |
Interest payable on long-term debt, notes payable and loan secured by trade receivables |  |  | 844 |  | 824 |  | 756 |  | 693 |  | 641 |  | 7,623 |  | 11,381 |
Net (receipts) payments on cross currency basis swaps |  |  | (1) |  | (1) |  | — |  | — |  | — |  | 64 |  | 62 |
MLSE financial liability |  | 22 | 149 |  | — |  | — |  | — |  | — |  | — |  | 149 |
Total |  |  |  | 3,576 |  | 3,440 |  | 3,032 |  | 2,430 |  | 3,172 |  | 23,304 |  | 38,954 |
(1) Includes imputed interest of $950 million.
Details on outstanding foreign currency forward contracts and cross currency basis swaps | The following table provides further details on our outstanding foreign currency forward contracts and options as at December 31, 2020.
TYPE OF HEDGE | BUY CURRENCY | AMOUNT TO RECEIVE | SELL CURRENCY | AMOUNT TO PAY | MATURITY | HEDGED ITEM
Cash flow | USD | 675 |  | CAD | 885 |  | 2021 | Anticipated transactions
Cash flow | USD | 274 |  | CAD | 349 |  | 2021 | Commercial paper
Cash flow | PHP | 2,174 |  | CAD | 59 |  | 2021 | Anticipated transactions
Cash flow | USD | 479 |  | CAD | 614 |  | 2022 | Anticipated transactions
Cash flow - call options | USD | 231 |  | CAD | 299 |  | 2022 | Anticipated transactions
Cash flow - put options | USD | 231 |  | CAD | 295 |  | 2022 | Anticipated transactions
Economic | USD | 130 |  | CAD | 180 |  | 2021 | Anticipated transactions
Economic - call options | USD | 12 |  | CAD | 17 |  | 2021 | Anticipated transactions
Economic - call options | CAD | 17 |  | USD | 12 |  | 2021 | Anticipated transactions
Economic - put options | USD | 120 |  | CAD | 154 |  | 2021 | Anticipated transactions
Economic - put options | USD | 99 |  | CAD | 123 |  | 2022 | Anticipated transactions
Summary of key ratios | The following table provides a summary of our key ratios.
AT DECEMBER 31 | 2020 | 2019
Net debt leverage ratio | 2.93 |  | 2.81 |
Adjusted EBITDA to net interest expense ratio | 8.32 |  | 8.50 |

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