Offer to purchase CLEARNET.pdf - About TELUS

TELUS CORPORATION
PRO FORMA CONSOLIDATED STATEMENT OF INCOME
For the year ended December 31, 1999
(unaudited)
TELUS
Pro Forma
Combined Adjustments Pro Forma
Corporation Clearnet 2(a)
(millions)
2(b) Consolidated
(except per share amounts)
Operating Revenues
Wireless .................................... $ 974.4 $ 353.5 $1,327.9 $ — $1,327.9
Other ..................................... 4,897.9 — 4,897.9 — 4,897.9
5,872.3 353.5 6,225.8 — 6,225.8
Operating Expenses
Wireless .................................... 595.0 550.8 1,145.8 — 1,145.8
Other ..................................... 2,949.9 — 2,949.9 — 2,949.9
3,544.9 550.8 4,095.7 — 4,095.7
EBITDA*
Wireless .................................... 379.4 (197.3) 182.1 — 182.1
Other ..................................... 1,948.0 — 1,948.0 — 1,948.0
2,327.4 (197.3) 2,130.1 — 2,130.1
Depreciation and amortization ................... 1,055.2 183.8 1,239.0 — 1,239.0
Operating Income (Loss) ....................... 1,272.2 (381.1) 891.1 — 891.1
Other income, net ............................ 40.2 13.0 53.2 — 53.2
Financing costs ............................... 188.7 211.0 399.7 200.6 600.3
Restructuring costs ............................
Income (Loss) Before Income Taxes and Non-controlling
466.3 — 466.3 — 466.3
Interest .................................. 657.4 (579.1) 78.3 (200.6) (122.3)
Income taxes ................................ 296.9 2.7 299.6 (352.5) (52.9)
Income (Loss) Before Non-controlling Interest ........ 360.5 (581.8) (221.3) 151.9 (69.4)
Non-controlling interest ........................ 3.9 — 3.9 — 3.9
Net Income (Loss) Before Goodwill Charges ......... 356.6 (581.8) (225.2) 151.9 (73.3)
Goodwill amortization ......................... 6.9 — 6.9 241.6 248.5
Net Income (Loss) ............................ 349.7 (581.8) (232.1) (89.7) (321.8)
Preference and preferred share dividends ............ 3.5 — 3.5 — 3.5
Common Share Income (Loss) ...................
Earnings (Loss) per Share ($)
Income (loss) before restructuring costs and goodwill
$ 346.2 $(581.8) $ (235.6) $ (89.7) $ (325.3)
charges ................................... 2.61 (10.65) — — 0.65
Common share income (loss) ....................
Average Class A Equivalent Shares Outstanding
1.46 (10.65) — — (1.12)
(millions) ................................. — 54.6 — — —
Average Common Shares Outstanding (millions) ...... 236.6 — — 53.9 290.5
Effective tax rate ............................. 45.2% (0.5)% — — 43.2%
* EBITDA — Earnings Before Interest, Taxes, Depreciation and Amortization.
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