Offer to purchase CLEARNET.pdf - About TELUS

7. ACCOUNTS RECEIVABLE
TELUS CORPORATION
(FORMERLY BCT.TELUS COMMUNICATIONS INC.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
December 31, 1999
1999 1998
(millions)
Trade receivables ................................................... $544.7 $557.1
Current portion of leases receivable ..................................... 55.1 46.1
Other ........................................................... 29.3 56.5
$629.1 $659.7
Under an agreement dated November 20, 1997, TELUS Communications (B.C.) Inc. sold, with minimal
recourse, accounts receivable for aggregate cash proceeds of $150 million. Pursuant to the agreement, the
purchaser will use the proceeds of collection to purchase further receivables. This agreement, which expires
in November 2002, is extendable upon the Company’s request.
8. PROPERTY, PLANT AND EQUIPMENT, NET
Accumulated
Net Book Value
Cost Depreciation
(millions)
1999 1998
Telecommunications assets ....................... $10,970.2 $6,837.3 $4,132.9 $4,281.2
Assets leased to customers ....................... 198.7 147.6 51.1 49.7
Buildings .................................... 1,164.1 603.6 560.5 569.3
Office equipment & furniture ..................... 447.8 292.2 155.6 145.3
Assets under capital lease ........................ 68.2 42.8 25.4 8.2
Other ...................................... 991.4 613.7 377.7 411.2
13,840.4 8,537.2 5,303.2 5,464.9
Land....................................... 82.8 — 82.8 84.7
Plant under construction ......................... 443.6 — 443.6 223.2
Materials and supplies .......................... 43.8 — 43.8 54.8
$14,410.6 $8,537.2 $5,873.4 $5,827.6
9. DEFERRED CHARGES
1999 1998
(millions)
Pension plan contributions in excess of charges to income ..................... $ 81.2 $ 71.1
Cost of issuing debt securities, less amortization ............................ 11.2 12.8
Investment in New Media & Broadcast Fund .............................. 9.1 9.9
Deferred merger costs ............................................... — 8.7
Other ........................................................... 15.6 19.3
$117.1 $121.8
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