| PROPERTY, PLANT AND EQUIPMENT |
9. PROPERTY, PLANT AND EQUIPMENT Changes in the net carrying amount of property, plant and equipment are as follows: | | | | | | | | | | | | | | | | | | Land, | | | | | | | | | | | | | | buildings and | | | | | Telecom- | | Projects | | | | | | leasehold | | Furniture and | | munication | | under | | | | | | improvements | | equipment | | networks | | development | | Total | Cost | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of December 31, 2023 | | $ | 237.2 | | $ | 1,311.1 | | $ | 7,959.4 | | $ | 159.4 | | $ | 9,667.1 | Additions1 | | | 0.9 | | | 52.1 | | | 247.3 | | | 145.7 | | | 446.0 | Net change in additions financed with non-cash balances2 | | | — | | | (3.2) | | | (69.1) | | | 17.8 | | | (54.5) | Reclassification | | | 0.9 | | | 8.9 | | | 146.6 | | | (156.4) | | | — | Retirement, disposals and other | | | (2.3) | | | (59.4) | | | (92.4) | | | — | | | (154.1) | Balance as of December 31, 2024 | | | 236.7 | | | 1,309.5 | | | 8,191.8 | | | 166.5 | | | 9,904.5 | Additions1 | | | 0.7 | | | 118.8 | | | 200.7 | | | 167.8 | | | 488.0 | Net change in additions financed with non-cash balances2 | | | — | | | (7.5) | | | 8.0 | | | 5.2 | | | 5.7 | Reclassification | | | 0.5 | | | 9.2 | | | 124.5 | | | (134.2) | | | — | Retirement, disposals and other | | | (2.4) | | | (58.0) | | | (94.8) | | | 0.5 | | | (154.7) | Balance as of December 31, 2025 | | $ | 235.5 | | $ | 1,372.0 | | $ | 8,430.2 | | $ | 205.8 | | $ | 10,243.5 | | | | | | | | | | | | | | | | | Accumulated depreciation and impairment losses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of December 31, 2023 | | $ | 106.2 | | $ | 1,090.1 | | $ | 5,317.9 | | $ | — | | $ | 6,514.2 | Depreciation | | | 9.8 | | | 70.0 | | | 455.4 | | | — | | | 535.2 | Retirement, disposals and other | | | (2.3) | | | (91.7) | | | (85.2) | | | — | | | (179.2) | Balance as of December 31, 2024 | | | 113.7 | | | 1,068.4 | | | 5,688.1 | | | — | | | 6,870.2 | Depreciation | | | 7.8 | | | 65.2 | | | 407.2 | | | — | | | 480.2 | Retirement, disposals and other | | | (2.1) | | | (56.7) | | | (87.3) | | | — | | | (146.1) | Balance as of December 31, 2025 | | $ | 119.4 | | $ | 1,076.9 | | $ | 6,008.0 | | $ | — | | $ | 7,204.3 | | | | | | | | | | | | | | | | | Net carrying amount | | | | | | | | | | | | | | | | As of December 31, 2024 | | $ | 123.0 | | $ | 241.1 | | $ | 2,503.7 | | $ | 166.5 | | $ | 3,034.3 | As of December 31, 2025 | | | 116.1 | | | 295.1 | | | 2,422.2 | | | 205.8 | | | 3,039.2 |
| 1 | Net of government credits received for large investment projects ($35.2 million in 2025 and $26.7 million in 2024) and of deferred subsidies used for the roll-out of telecommunications services in various regions of Québec ($17.3 million in 2025 and $2.8 million in 2024). |
| 2 | Includes also the net change in government credits receivable for large investment projects (increases of $6.2 million in 2025 and $67.5 million in 2024). |
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