Annual report - About TELUS

consolidated statement of cash flow
Years Ended December 31 (millions)
OPERATING ACTIVITIES
2000 1999
Net income
Items not affecting cash:
$ 461.0 $ 349.7
Depreciation and amortization 1,187.9 1,054.6
Goodwill amortization 24.3 7.5
Future income taxes (Note 7) 152.0 (10.1)
Non-cash restructuring related write-offs – 79.9
Gain on disposal of property and investments (Note 16) – (36.9)
Sinking fund earnings (4.1) (12.6)
> 64
Other, net (16.5) (26.1)
Operating cash flow 1,804.6 1,406.0
Provision for future cash restructuring costs – 329.5
Operating cash flow adjusted for restructuring costs 1,804.6 1,735.5
Net change in non-cash working capital (169.5) (90.4)
Cash provided by operating activities 1,635.1 1,645.1
INVESTING ACTIVITIES
Capital expenditures (1,441.3) (1,199.2)
Acquisition of Clearnet Communications Inc., net of cash acquired (1,857.4) –
Other acquisitions, net of cash acquired (606.6) –
Proceeds from the sale of property and investments (Note 16) 96.9 40.2
Merger costs – (51.9)
Other (22.7) 12.6
Cash used by investing activities (3,831.1) (1,198.3)
FINANCING ACTIVITIES
Common shares issued 14.4 3.5
Repurchase of common shares – (1.8)
Dividends to shareholders (353.0) (334.9)
Long-term debt issued 234.9 44.2
Redemptions of long-term debt (1,764.8) (258.4)
Sinking fund withdrawal 109.5 32.7
Change in short-term obligations 4,112.4 (47.7)
Other (24.9) 1.9
Cash provided (used) by financing activities 2,328.5 (560.5)
CASH POSITION
Increase (decrease) in cash 132.5 (113.7)
Cash and temporary investments (bank indebtedness), beginning of year (32.3) 81.4
Cash and temporary investments (bank indebtedness), end of year $ 100.2 $ (32.3)
SUPPLEMENTAL DISCLOSURE
Interest paid $ 234.5 $ 204.7
Income taxes paid $ 291.0 $ 341.6
The accompanying notes are an integral part of these financial statements