Offer to purchase CLEARNET.pdf - About TELUS

The following table restates the major balance sheet categories to reflect the application of U.S. GAAP:
Six Months Ended Three Months Ended
June 30 March 31
2000 1999 2000 1999
(unaudited) (unaudited)
(millions)
Current assets ................................... $ 1,349.1 $ 1,113.5 $ 1,353.4 $ 1,122.0
Property, plant & equipment ........................ 5,854.0 5,245.3 5,390.2 5,192.6
Goodwill ....................................... 843.4 408.6 404.7 410.7
Intangible assets ................................. 3,863.9 3,983.5 3,893.8 4,013.4
Deferred income tax assets ......................... 497.0 808.0 554.3 834.5
Other assets .................................... 373.4 419.3 353.2 392.5
$12,780.8 $11,978.2 $11,949.6 $11,965.7
Current liabilities ................................ $ 2,254.0 $ 2,016.8 $ 1,813.5 $ 1,916.3
Long-term debt .................................. 1,806.7 1,606.9 1,571.4 1,725.8
Other long-term liabilities .......................... 153.2 152.0 138.0 159.5
Deferred income tax liabilities ....................... 1,777.5 1,832.4 1,791.2 1,846.2
Non-controlling interest ............................ 83.4 10.4 13.4 9.4
Shareholders’ equity .............................. 6,706.0 6,359.7 6,622.1 6,308.5
$12,780.8 $11,978.2 $11,949.6 $11,965.7
The following table reconciles shareholders’ equity for the differences between Canadian and U.S. GAAP:
Six Months Ended Three Months Ended
June 30 March 31
2000 1999 2000 1999
(unaudited) (unaudited)
(millions)
Shareholders’ Equity under Canadian GAAP ................
Adjustments:
$4,476.8 $4,127.9 $4,392.1 $4,076.1
Purchase versus Pooling Accounting ..................... 2,361.4 2,404.0 2,372.2 2,414.6
Asset Impairment .................................. (132.2) (172.2) (142.2) (182.2)
Shareholders’ Equity under U.S. GAAP ................... $6,706.0 $6,359.7 $6,622.1 $6,308.5
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