XML 59 R42.htm IDEA: XBRL DOCUMENT
v3.25.0.1

BUSINESS COMBINATIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of detailed information about business combination [abstract] |
Disclosure of detailed information about business combinations | The following table summarizes the fair value of the consideration paid and the fair value assigned to each major class of assets and liabilities as at April 3, 2023.
(In millions of dollars) |  |  | Total
Cash consideration 1 |  |  | 19,033 |
Issuance of 23.6 million Class B Non-Voting shares 2 |  |  | 1,450 |
Fair value of consideration transferred |  |  | 20,483 |
Net identifiable asset or liability: |  |  |
Accounts receivable (net of allowance for doubtful accounts of $31 million) |  |  | 310 |
Other current assets 3 |  |  | 2,448 |
Property, plant and equipment 4 |  |  | 8,022 |
Intangible assets 5 |  |  | 5,974 |
Investments |  |  | 123 |
Other long-term assets 3 |  |  | 48 |
Bank advances |  |  | (25) |
Short-term borrowings 6 |  |  | (200) |
Accounts payable and accrued liabilities |  |  | (545) |
Other current liabilities |  |  | (33) |
Contract liabilities 7 |  |  | (164) |
Current portion of long-term debt 8 |  |  | (1,000) |
Current portion of lease liabilities 9 |  |  | (59) |
Provisions |  |  | (6) |
Long-term debt 8 |  |  | (3,526) |
Lease liabilities 9 |  |  | (268) |
Other long-term liabilities 10 |  |  | (109) |
Deferred tax liabilities 11 |  |  | (2,693) |
Total fair value of identifiable net assets acquired |  |  | 8,297 |
Goodwill 12 |  |  | 12,186 |
1 Includes $151 million of cash used to settle Shaw stock-based compensation programs. 2 Recorded at fair value based on the market price of RCI Class B Non-Voting shares on the acquisition date. 3 Consists of contract assets, inventories, prepaid expenses, and other assets as described in note 31. 4 Includes land and buildings, cable networks, computer equipment and software, customer premise equipment, leasehold improvements, equipment and vehicles, and right-of-use assets. Property, plant and equipment (excluding land) are expected to be amortized over remaining useful lives of 1 to 36 years. 5 Includes customer relationships, brand names, and other intangible assets. Intangible assets of $270 million, $5,314 million, and $390 million were allocated to our Wireless, Cable West (i.e. legacy Shaw), and Satellite cash-generating units (CGUs), respectively. Customer relationships, brand names, and other intangible assets are expected to be amortized over average useful lives of eight to fifteen years, three years, and fifteen years, respectively. 6 Short-term borrowings were repaid in April 2023 (see note 21). 7 Represents the fair value of the cost required to fulfill the related contractual obligations. 8 Represents the notional principal value of Shaw's outstanding senior notes of $4,550 million and the fair value decrement of $24 million, which will be amortized into finance costs using the effective interest method over the respective remaining terms of the outstanding senior notes, representing a weighted average term to maturity of 9.7 years and weighted average interest rate of 4.7%. 9 Represents the present value of future lease payments at the April 3, 2023 incremental borrowing rate of the consolidated company. 10 Includes the fair value of the cost required to fulfill the related pension and post-employment obligations. 11 Represents the net deferred income tax liability relating to the estimated fair values of assets acquired and liabilities assumed. 12 Goodwill arises principally from the expected synergies following the integration of Shaw, and future growth of our combined business and customer base as a result of the acquisition. Goodwill is not deductible for tax purposes. Goodwill arising from the transaction of $432 million, $11,675 million, and $79 million has been allocated to our Wireless, Cable (group), and Satellite CGUs, respectively. The table below summarizes the aggregated purchase price allocations for these acquisitions.
(In millions of dollars) |  |  |  | Total
Cash consideration 1 |  |  |  | 153 |
Fair value of consideration |  |  |  | 153 |
Net identifiable asset or liability: |  |  |  |
Current assets |  |  |  | 12 |
Property, plant and equipment |  |  |  | 20 |
Intangible assets 2 |  |  |  | 83 |
Accounts payable and accrued liabilities |  |  |  | (11) |
Long-term liabilities |  |  |  | (3) |
Deferred tax liabilities |  |  |  | (11) |
Total fair value of identifiable net assets acquired |  |  |  | 90 |
Goodwill 3 |  |  |  | 63 |
1 Includes $12 million of cash not yet paid as at December 31, 2023 that was subject to customary closing conditions. 2 Primarily reflects customer relationships with estimated useful lives of 6 to 20 years. 3 Goodwill arises principally from the expected synergies following these acquisitions and future growth of our combined businesses as a result of the acquisitions. Goodwill is not deductible for tax purposes.
Disclosure of detailed information about property, plant and equipment | Property, plant and equipment will be amortized over their remaining estimated useful lives, estimated as follows.
Asset | Basis | Estimated remaining useful life
Buildings | Diminishing balance | 1 to 36 years
Cable and wireless network | Straight-line | 1 to 30 years
Computer equipment and software | Straight-line | 1 to 10 years
Customer premise equipment | Straight-line | 1 to 5 years
Leasehold improvements | Straight-line | Over shorter of estimated useful life or lease term
Equipment and vehicles | Diminishing balance | 1 to 10 years
Right-of-use assets | Straight-line | Over remaining lease term
We depreciate property, plant and equipment over its estimated useful life by charging depreciation expense to net income as follows:
Asset | Basis | Estimated useful life
Buildings | Diminishing balance | 15 to 40 years
Cable and wireless network | Straight-line | 3 to 40 years
Computer equipment and software | Straight-line | 4 to 10 years
Customer premise equipment | Straight-line | 3 to 6 years
Leasehold improvements | Straight-line | Over shorter of estimated useful life or lease term
Equipment and vehicles | Diminishing balance | 3 to 20 years
The tables below summarize our property, plant and equipment as at December 31, 2024 and 2023.
(In millions of dollars) | Land and buildings | Cable and wireless networks | Computer equipment and software | Customer premise equipment | Leasehold improvements | Equipment and vehicles | Construction in process | Total owned assets | Right-of- use assets (note 9) | Total property, plant and equipment
Cost |  |  |  |  |  |  |  |  |  |
As at January 1, 2024 | 1,447 |  | 30,499 |  | 7,931 |  | 3,003 |  | 817 |  | 1,451 |  | 2,264 |  | 47,412 |  | 3,744 |  | 51,156 |
Additions and transfers | 296 |  | 2,466 |  | 425 |  | 285 |  | 37 |  | 121 |  | 470 |  | 4,100 |  | 480 |  | 4,580 |
Disposals and other | 262 |  | (815) |  | (442) |  | (83) |  | (11) |  | (45) |  | — |  | (1,134) |  | (177) |  | (1,311) |
As at December 31, 2024 | 2,005 |  | 32,150 |  | 7,914 |  | 3,205 |  | 843 |  | 1,527 |  | 2,734 |  | 50,378 |  | 4,047 |  | 54,425 |
Accumulated depreciation |  |  |  |  |  |  |  |  |  |
As at January 1, 2024 | 474 |  | 16,040 |  | 5,590 |  | 2,073 |  | 447 |  | 1,017 |  | — |  | 25,641 |  | 1,183 |  | 26,824 |
Depreciation | 106 |  | 2,068 |  | 866 |  | 492 |  | 63 |  | 70 |  | — |  | 3,665 |  | 408 |  | 4,073 |
Disposals and other | 134 |  | (766) |  | (468) |  | (148) |  | (14) |  | (43) |  | — |  | (1,305) |  | (239) |  | (1,544) |
As at December 31, 2024 | 714 |  | 17,342 |  | 5,988 |  | 2,417 |  | 496 |  | 1,044 |  | — |  | 28,001 |  | 1,352 |  | 29,353 |
Net carrying amount |  |  |  |  |  |  |  |  |  |
As at January 1, 2024 | 973 |  | 14,459 |  | 2,341 |  | 930 |  | 370 |  | 434 |  | 2,264 |  | 21,771 |  | 2,561 |  | 24,332 |
As at December 31, 2024 | 1,291 |  | 14,808 |  | 1,926 |  | 788 |  | 347 |  | 483 |  | 2,734 |  | 22,377 |  | 2,695 |  | 25,072 |

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

X
- Definition The disclosure of detailed information about business combinations. [Refer: Total for all business combinations [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 3 -IssueDate 2024-01-01 -Section Disclosures application of paragraphs 59 and 61 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=3&code=ifrs-tx-2024-en-r&doctype=Appendix&subtype=B&dita_xref=IFRS03_gB64-B67_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2024-01-01 -Paragraph 73 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2024-en-r&anchor=para_73&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration