| Segmented information |
Segmented information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2025 |
Note |
Bell CTS Canada (1) |
Bell CTS U.S. (2) |
Bell
CTS |
Bell
Media |
Inter-
segment
eliminations |
BCE |
| Operating revenues |
|
|
|
|
|
|
|
|
| External service revenues |
|
|
18,000 |
|
392 |
|
18,392 |
|
2,815 |
|
— |
|
21,207 |
|
| Inter-segment service revenues |
|
|
28 |
|
— |
|
28 |
|
339 |
|
(367) |
|
— |
|
| Operating service revenues |
|
|
18,028 |
|
392 |
|
18,420 |
|
3,154 |
|
(367) |
|
21,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| External/operating product revenues |
|
|
3,261 |
|
— |
|
3,261 |
|
— |
|
— |
|
3,261 |
|
| Total external revenues |
|
|
21,261 |
|
392 |
|
21,653 |
|
2,815 |
|
— |
|
24,468 |
|
| Total inter-segment revenues |
|
|
28 |
|
— |
|
28 |
|
339 |
|
(367) |
|
— |
|
Total operating revenues (3) |
|
|
21,289 |
|
392 |
|
21,681 |
|
3,154 |
|
(367) |
|
24,468 |
|
| Operating costs |
|
5 |
(11,584) |
|
(221) |
|
(11,805) |
|
(2,372) |
|
367 |
|
(13,810) |
|
Adjusted EBITDA (4) |
|
|
9,705 |
|
171 |
|
9,876 |
|
782 |
|
— |
|
10,658 |
|
| Severance, acquisition and other costs |
|
6 |
|
|
|
|
|
(517) |
|
| Depreciation and amortization |
18, |
20 |
|
|
|
|
|
(5,238) |
|
| Finance costs |
|
|
|
|
|
|
|
|
| Interest expense |
|
7 |
|
|
|
|
|
(1,775) |
|
Net return on post-employment benefit
plans |
|
28 |
|
|
|
|
|
102 |
|
| Impairment of assets |
|
8 |
|
|
|
|
|
(1,027) |
|
| Net gains on investments |
|
9 |
|
|
|
|
|
5,217 |
|
| Other income |
|
10 |
|
|
|
|
|
287 |
|
| Income taxes |
|
11 |
|
|
|
|
|
(1,193) |
|
| Net earnings |
|
|
|
|
|
|
|
6,514 |
|
| Property, plant and equipment |
|
18 |
28,402 |
|
4,114 |
|
32,516 |
|
1,025 |
|
— |
|
33,541 |
|
| Finite-life intangible assets |
|
20 |
6,007 |
|
862 |
|
6,869 |
|
952 |
|
— |
|
7,821 |
|
| Indefinite-life intangible assets |
|
20 |
8,574 |
|
261 |
|
8,835 |
|
578 |
|
— |
|
9,413 |
|
| Goodwill |
|
23 |
8,286 |
|
3,003 |
|
11,289 |
|
1,942 |
|
— |
|
13,231 |
|
| Capital expenditures |
|
|
3,153 |
|
388 |
|
3,541 |
|
159 |
|
— |
|
3,700 |
| (1)Includes all subsidiaries of Bell CTS with the exception of Ziply Fiber and its subsidiaries. (2)Includes the results of Ziply Fiber exclusively. (3)Revenues from Bell CTS Canada and Bell Media are substantially generated in Canada and revenues from Bell CTS U.S. are generated in the U.S. (4)The chief operating decision maker uses primarily one measure of profit to make decisions and assess performance, being operating revenues less operating costs.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended December 31, 2024 |
Note |
Bell CTS |
Bell Media |
Inter-segment
eliminations |
BCE |
| Operating revenues |
|
|
|
|
|
|
|
External service revenues |
|
|
18,256 |
|
2,817 |
|
— |
|
21,073 |
|
|
Inter-segment service revenues |
|
|
27 |
|
334 |
|
(361) |
|
— |
|
| Operating service revenues |
|
18,283 |
|
3,151 |
|
(361) |
|
21,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| External/operating product revenues |
|
3,336 |
|
— |
|
— |
|
3,336 |
|
|
Total external revenues |
|
|
21,592 |
|
2,817 |
|
— |
|
24,409 |
|
|
Total inter-segment revenues |
|
|
27 |
|
334 |
|
(361) |
|
— |
|
Total operating revenues (1) |
|
|
21,619 |
|
3,151 |
|
(361) |
|
24,409 |
|
| Operating costs |
|
5 |
|
(11,788) |
|
(2,393) |
|
361 |
|
(13,820) |
|
Adjusted EBITDA (2) |
|
|
9,831 |
|
758 |
|
— |
|
10,589 |
|
| Severance, acquisition and other costs |
|
6 |
|
|
|
(454) |
|
| Depreciation and amortization |
18, |
20 |
|
|
|
(5,041) |
|
| Finance costs |
|
|
|
|
|
|
|
Interest expense |
|
7 |
|
|
|
(1,713) |
|
|
Net return on post-employment benefit plans |
|
28 |
|
|
|
66 |
|
| Impairment of assets |
|
8 |
|
|
|
(2,190) |
|
| Net gains on investments |
|
9 |
|
|
|
57 |
|
Other expense (3) |
|
10 |
|
|
|
(362) |
|
| Income taxes |
|
11 |
|
|
|
(577) |
|
| Net earnings |
|
|
|
|
|
375 |
|
| Property, plant and equipment |
|
18 |
28,880 |
|
1,121 |
|
— |
|
30,001 |
|
| Finite-life intangible assets |
|
20 |
6,157 |
|
887 |
|
— |
|
7,044 |
|
| Indefinite-life intangible assets |
|
20 |
8,611 |
|
1,131 |
|
— |
|
9,742 |
|
| Goodwill |
|
23 |
8,266 |
|
1,995 |
|
— |
|
10,261 |
|
| Capital expenditures |
|
|
3,746 |
|
151 |
|
— |
|
3,897 |
| (1)In 2024, we had two segments, Bell CTS and Bell Media, and their revenues were substantially generated in Canada. (2)The chief operating decision maker uses primarily one measure of profit to make decisions and assess performance, being operating revenues less operating costs. (3)We have presented amounts from the previous period to make them consistent with the presentation for the current period.
|
| Revenues by services and products |
The following table presents our revenues disaggregated by type of services and products by segment.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| For the year ended December 31 |
|
|
|
2025 |
|
|
2024 |
Services (1) |
|
|
|
|
|
|
|
| Wireless voice and data |
|
|
|
7,053 |
|
|
|
7,136 |
|
Wireline data (2) |
|
|
|
8,439 |
|
|
|
8,117 |
|
Wireline voice (3) |
|
|
|
2,520 |
|
|
|
2,672 |
|
Media (4) |
|
|
|
2,882 |
|
|
|
2,830 |
|
| Other wireline services |
|
|
|
313 |
|
|
|
318 |
|
| Total services |
|
|
|
21,207 |
|
|
|
21,073 |
|
Products (5) |
|
|
|
|
|
|
|
| Wireless |
|
|
|
2,634 |
|
|
|
2,715 |
|
Wireline (6) |
|
|
|
627 |
|
|
|
621 |
|
| Total products |
|
|
|
3,261 |
|
|
|
3,336 |
|
| Total operating revenues |
|
|
|
24,468 |
|
|
|
24,409 |
| (1)Our service revenues are generally recognized over time. (2)Wireline data for the year ended December 31, 2025 includes $322 million of revenues from Bell CTS U.S. (3)Wireline voice for the year ended December 31, 2025 includes $70 million of revenues from Bell CTS U.S. (4)Includes Crave direct-to-consumer revenues. (5)Our product revenues are generally recognized at a point in time. (6)Included in the year ended December 31, 2025 is revenue from a finance lease related to our first artificial intelligence (AI) facility.
|