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Financial and capital management (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023

December 31, 2022

CLASSIFICATION

FAIR VALUE METHODOLOGY

NOTE

CARRYING VALUE

FAIR VALUE

CARRYING VALUE

FAIR VALUE

Debt securities and other debt

Debt due within one year and long-term debt

Quoted market price of debt

24,

25

29,049

28,225

25,061

23,026

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
			CLASSIFICATION			NOTE			CARRYING VALUE OF ASSET (LIABILITY)			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, 2023
Publicly-traded and privately-held investments(3)			Other non-current assets			21			587			10			—			577
Derivative financial instruments			Other current assets, trade payables and other liabilities, other non-current assets and liabilities						(488)			—			(488)			—
Other			Other non-current assets and liabilities						147			—			216			(69)
December 31, 2022
Publicly-traded and privately-held investments(3)			Other non-current assets			21			215			9			—			206
Derivative financial instruments			Other current assets, trade payables and other liabilities, other non-current assets and liabilities						72			—			72			—
MLSE financial liability(4)			Trade payables and other liabilities			23			(149)			—			—			(149)
Other			Other non-current assets and liabilities						108			—			184			(76)

(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 revenue and earnings multiples. For certain privately-held investments, changes in our valuation assumption relating to revenue and earnings multiples may result in a significant increase (decrease) in the fair value of our level 3 financial instruments.

(3)Unrealized gains and losses are recorded in Other comprehensive (loss) income in the statements of comprehensive income and are reclassified from Accumulated other comprehensive loss to the deficit in the statements of financial position when realized.

(4)Represented BCE’s obligation to repurchase the Master Trust Fund's 9% interest in MLSE at a price not less than an agreed minimum price. In January 2023, BCE repurchased the interest in MLSE held by the Master Trust Fund for a cash consideration of $149 million.

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
			CLASSIFICATION			NOTE			CARRYING VALUE OF ASSET (LIABILITY)			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, 2023
Publicly-traded and privately-held investments(3)			Other non-current assets			21			587			10			—			577
Derivative financial instruments			Other current assets, trade payables and other liabilities, other non-current assets and liabilities						(488)			—			(488)			—
Other			Other non-current assets and liabilities						147			—			216			(69)
December 31, 2022
Publicly-traded and privately-held investments(3)			Other non-current assets			21			215			9			—			206
Derivative financial instruments			Other current assets, trade payables and other liabilities, other non-current assets and liabilities						72			—			72			—
MLSE financial liability(4)			Trade payables and other liabilities			23			(149)			—			—			(149)
Other			Other non-current assets and liabilities						108			—			184			(76)

(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 revenue and earnings multiples. For certain privately-held investments, changes in our valuation assumption relating to revenue and earnings multiples may result in a significant increase (decrease) in the fair value of our level 3 financial instruments.

(3)Unrealized gains and losses are recorded in Other comprehensive (loss) income in the statements of comprehensive income and are reclassified from Accumulated other comprehensive loss to the deficit in the statements of financial position when realized.

(4)Represented BCE’s obligation to repurchase the Master Trust Fund's 9% interest in MLSE at a price not less than an agreed minimum price. In January 2023, BCE repurchased the interest in MLSE held by the Master Trust Fund for a cash consideration of $149 million.

Change in allowance for doubtful accounts

The following table provides the change in allowance for doubtful accounts for trade receivables.

			NOTE						2023			2022
Balance, January 1									(129)			(136)
Additions									(126)			(109)
Usage and reversals									137			116
Balance, December 31			12						(118)			(129)

The following table provides the change in allowance for doubtful accounts for contract assets.

						NOTE						2023			2022
Balance, January 1												(19)			(20)
Additions												(40)			(20)
Usage and reversals												41			21
Balance, December 31												(18)			(19)
Current												(6)			(7)
Non-current												(12)			(12)
Balance, December 31						14						(18)			(19)

Details on trade receivables not impaired

The following table provides further details on trade receivables, net of allowance for doubtful accounts.

AT DECEMBER 31						2023			2022
Trade receivables not past due						3,158			3,215
Trade receivables past due
			Under 60 days			421			434
			60 to 120 days			209			253
			Over 120 days			53			71
Trade receivables, net of allowance for doubtful accounts						3,841			3,973

Maturity analysis for recognized financial liabilities

The following table is a maturity analysis for recognized financial liabilities at December 31, 2023 for each of the next five years and thereafter.

AT DECEMBER 31, 2023						NOTE			2024			2025			2026			2027			2028			THERE- AFTER			TOTAL
Total debt, excluding lease liabilities						25			2,172			2,690			1,609			1,742			2,120			19,337			29,670
Lease liabilities (1)						25			1,245			1,034			673			403			334			2,041			5,730
Notes payable						24			207			—			—			—			—			—			207
Loan secured by receivables						24			1,588			—			—			—			—			—			1,588
Interest payable on long-term debt, notes payable and loan secured by receivables									1,301			1,133			1,060			1,019			962			10,548			16,023
Net (receipts) payments on cross currency interest rate swaps and interest rate swaps									(6)			18			(5)			(11)			(9)			(70)			(83)
Total									6,507			4,875			3,337			3,153			3,407			31,856			53,135

(1) Includes imputed interest of $873 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, 2023.

TYPE OF HEDGE			BUY CURRENCY			AMOUNT TO RECEIVE			SELL CURRENCY			AMOUNT TO PAY			MATURITY			HEDGED ITEM
Cash flow(1)			USD			1,207			CAD			1,609			2024			Loans
Cash flow			USD			150			CAD			201			2024			Commercial paper
Cash flow			USD			624			CAD			790			2024			Anticipated purchases
Cash flow			PHP			2,885			CAD			69			2024			Anticipated purchases
Cash flow			USD			495			CAD			645			2025			Anticipated purchases
Economic			USD			210			CAD			277			2024			Anticipated purchases
Economic - options(2)			USD			175			CAD			225			2024			Anticipated purchases
Economic - call options			USD			244			CAD			327			2024			Anticipated purchases
Economic - call options			CAD			225			USD			156			2024			Anticipated purchases
Economic - put options			USD			519			CAD			675			2024			Anticipated purchases
Economic			USD			120			CAD			158			2025			Anticipated purchases
Economic - options(2)			USD			65			CAD			85			2025			Anticipated purchases
Economic - call options			USD			540			CAD			694			2025			Anticipated purchases
Economic - put options			USD			360			CAD			461			2025			Anticipated purchases

(1)    Forward contracts to hedge loans secured by receivables under our securitization program. See Note 24, Debt due within one year, for additional information.

(2) Foreign currency options with a leverage provision and a profit cap limitation.

Summary of key ratios

The following table provides a summary of our key ratios.

AT DECEMBER 31						2023			2022
Net debt leverage ratio						3.48			3.30
Adjusted EBITDA to adjusted net interest expense ratio						6.94			8.50

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