XML 55 R20.htm IDEA: XBRL DOCUMENT
v3.26.1

Financial assets and liabilities | 6 Months Ended
--- | ---
Jun. 30, 2026
Financial Instruments [Abstract] |
Financial assets and liabilities | Financial assets and liabilities Fair value The following table provides the fair value details of certain financial instruments measured at amortized cost in the statements of financial position.
|  |  | June 30, 2026 | December 31, 2025
| Classification | Fair value methodology | 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 | 33,581 |  | 33,837 |  | 31,236 |  | 31,286 |
The following table provides the fair value details of financial instruments measured at fair value in the statements of financial position.
|  | Fair value
| Classification | 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)
June 30, 2026 |  |  |  |  |
Publicly-traded and privately-held investments (3) (4) | Other non-current assets | 352 |  | 184 |  | — |  | 168 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities | (268) |  | — |  | (268) |  | — |
Investments | Other non-current assets | 247 |  | — |  | 247 |  | — |
December 31, 2025 |  |  |  |  |
Publicly-traded and privately-held investments (3) | Other non-current assets | 1,198 |  | 105 |  | — |  | 1,093 |
Derivative financial instruments | Other current assets, trade payables and other liabilities, other non-current assets and liabilities | (513) |  | — |  | (513) |  | — |
Investments | Other non-current assets | 246 |  | — |  | 246 |  | — |
(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, prices of comparable investments and revenue and earnings multiples. For certain privately-held investments, changes in our valuation assumptions may result in a significant change in the fair value of our level 3 financial instruments. (3)Unrealized gains and losses are recorded in Other comprehensive income in the consolidated statements of comprehensive income and are reclassified from Accumulated other comprehensive (loss) income to the Deficit in the statements of financial position when realized. (4)In Q1 2026, our investment in the Montréal Canadiens was reclassified to Investments in associates and joint ventures in the statements of financial position. See Note 10, Investments in associates and joint ventures, for additional details. Market risk Currency exposures In 2026, following the repurchase of a portion of certain U.S. dollar debt prior to maturity, we proportionately terminated the corresponding cross currency interest rate swaps used to hedge the U.S. currency exposure of this debt. Specifically, we terminated cross currency interest rate swaps with a notional amount of $353 million in U.S. dollars ($464 million in Canadian dollars) relating to our Series US-1 Notes, $98 million in U.S. dollars ($132 million in Canadian dollars) relating to our Series US-2 Notes, $109 million in U.S. dollars ($139 million in Canadian dollars) relating to our Series US-4 Notes, $91 million in U.S. dollars ($114 million in Canadian dollars) relating to our Series US-5 Notes, $84 million in U.S. dollars ($106 million in Canadian dollars) relating to our Series US-6 Notes and $143 million in U.S. dollars ($182 million in Canadian dollars) relating to our Series US-7 Notes. The fair value of the cross currency interest rate swaps at the date of termination was a net liability of $82 million. In 2026, we entered into cross currency interest rate swaps with a notional amount of $650 million in U.S. dollars ($899 million in Canadian dollars) to hedge the U.S. currency exposure of our Series US-11 Notes maturing in 2036. The fair value of the cross currency interest rate swaps at June 30, 2026 was a net asset of $6 million recognized in Other current assets, Other non-current assets and Other non-current liabilities in the statements of financial position. In 2026, we entered into amortizing cross currency interest rate swaps with a notional amount of $213 million in U.S. dollars ($292 million in Canadian dollars) to hedge the U.S. currency exposure of other debt maturing in 2029. The fair value of the amortizing cross currency interest rate swaps at June 30, 2026 was a net asset of $9 million recognized in Other current assets, Other non-current assets and Other non-current liabilities in the statements of financial position. See Note 11, Debt, for additional details. The following table provides further details on our outstanding foreign currency forward contracts and options at June 30, 2026.
Type of hedge | Buy currency | Amount to receive | Sell currency | Amount to pay | Maturity | Hedged item
Cash flow (1) | USD | 1,132 |  | CAD | 1,604 |  | 2026 | Loans
Cash flow | USD | 425 |  | CAD | 589 |  | 2026 | Commercial paper
Cash flow | USD | 442 |  | CAD | 587 |  | 2026 | Anticipated purchases
Cash flow | PHP | 4,752 |  | CAD | 110 |  | 2026 | Anticipated purchases
Cash flow | USD | 440 |  | CAD | 589 |  | 2027 | Anticipated purchases
Cash flow | USD | 120 |  | CAD | 156 |  | 2028 | Anticipated purchases
Economic - call options | USD | 60 |  | CAD | 79 |  | 2026 | Anticipated purchases
Economic - options (2) | USD | 10 |  | CAD | 13 |  | 2026 | Anticipated purchases
Economic - call options | CAD | 261 |  | USD | 180 |  | 2026 | Anticipated purchases
Economic - put options | USD | 80 |  | CAD | 105 |  | 2026 | Anticipated purchases
Economic - put options | CAD | 67 |  | USD | 50 |  | 2026 | Anticipated purchases
Economic - call options | USD | 75 |  | CAD | 99 |  | 2027 | Anticipated purchases
Economic - put options | USD | 60 |  | CAD | 79 |  | 2027 | Anticipated purchases
Economic - options (2) | USD | 44 |  | CAD | 59 |  | 2027 | Anticipated purchases
Economic - call options | CAD | 360 |  | USD | 240 |  | 2028 | Anticipated purchases
Economic - put options | USD | 120 |  | CAD | 156 |  | 2028 | Anticipated purchases
Economic - call options | USD | — |  | CAD | 7 |  | 2028 | Anticipated purchases
(1)Forward contracts to hedge loans secured by receivables under our securitization program. (2)Foreign currency options with a leverage provision and a profit cap limitation. A 10% depreciation (appreciation) in the value of the Canadian dollar relative to the U.S. dollar would result in a loss of $42 million (gain of $3 million) recognized in net earnings at June 30, 2026 and a gain of $16 million (gain of $13 million) recognized in Other comprehensive income at June 30, 2026, with all other variables held constant. Interest rate exposures In 2026, following the repurchase of a portion of our Series M-45 MTN debentures prior to maturity, we terminated the corresponding interest rate swaps with a notional amount of $200 million used to hedge the fair value of these debentures and interest rate swaps with a notional amount of $200 million to hedge the interest cost of these debentures. The fair value of the interest rate swaps at the date of termination was a net liability of $8 million, of which $5 million and $3 million is reflected in the initial fair value of the interest rate swaps relating to our Series EO Notes and Series M-45 MTN debentures, respectively. In 2026, we entered into interest rate swaps to hedge the fair value and interest cost of debt instruments as follows:
Debt | Fair value hedge | Hedge of interest cost
Series | Maturity | Notional amount | Maturity | Notional amount | Maturity
E Notes | 2056 | 750 |  | 2036 | 750 |  | 2031
EH Notes | 2041 | 400 |  | 2041 | 400 |  | 2031
EO Notes | 2053 | 150 |  | 2046 | 150 |  | 2031-2032
EU Notes | 2054 | 150 |  | 2046 | 150 |  | 2032
M-45 MTN debentures | 2047 | 33 |  | 2047 | 33 |  | 2028
M-61 MTN debentures | 2053 | 400 |  | 2046 | 400 |  | 2031
M-68 MTN debentures | 2033 | 750 |  | 2029 | — |  | — |
M-70 MTN debentures | 2056 | 700 |  | 2046 | 700 |  | 2031
The fair value of these interest rate swaps at June 30, 2026 was a net liability of $1 million recognized in Other current assets, Other non-current assets, Trade payables and other liabilities and Other non-current liabilities in the statements of financial position and reflects an initial liability of $8 million, as described above. See Note 11, Debt, for additional details. A 1% increase (decrease) in interest rates would result in a loss of $24 million (gain of $12 million) recognized in net earnings and a gain of $87 million (loss of $83 million) recognized in Other comprehensive income for the six months ended June 30, 2026, with all other variables held constant. Equity price exposures We use equity forward contracts on BCE’s common shares to hedge economically the cash flow exposure related to the settlement of equity settled share-based compensation plans. The fair value of our equity forward contracts at June 30, 2026 and December 31, 2025 was a net liability of $219 million and $187 million, respectively, recognized in Other current assets, Trade payables and other liabilities, and Other non-current liabilities in the statements of financial position. A loss of $62 million and $29 million for the three and six months ended June 30, 2026, respectively, and a loss of $43 million and $42 million for the three and six months ended June 30, 2025, respectively, relating to the equity forward contracts is recognized in Other income (expense) in the income statements. A 5% increase (decrease) in the market price of BCE’s common shares would result in a gain (loss) of $15 million recognized in net earnings at June 30, 2026, with all other variables held constant.

X
- Definition Financial Instruments [Abstract] + References No definition available. + Details
Name: | bce_FinancialInstrumentsAbstract
Namespace Prefix: | bce_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Section Scope -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS07_g3-5A_TI -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration