Annual report - About TELUS

10. CAPITAL ASSETS, NET
Accumulated
Depreciation and
Cost Amortization Net Book Value
(millions) 2000 1999
Telecommunications assets $ 13,887.6 $ 8,293.2 $ 5,594.4 $ 4,132.9
Assets leased to customers 416.3 303.4 112.9 51.1
Buildings 1,224.5 649.4 575.1 560.5
Office equipment & furniture 637.4 403.7 233.7 155.6
Assets under capital lease
Intangible assets:
77.5 40.3 37.2 25.4
Subscriber base 284.1 5.9 278.2 –
Spectrum licenses 3,565.2 18.7 3,546.5 –
Other 861.5 536.9 324.6 382.6
20,954.1 10,251.5 10,702.6 5,308.1
Land 85.3 – 85.3 82.8
Plant under construction 679.9 – 679.9 443.6
Materials and supplies 63.2 – 63.2 43.8
11. DEFERRED CHARGES
$ 21,782.5 $ 10,251.5 $ 11,531.0 $ 5,878.3
(millions) 2000 1999
Pension plan contributions in excess of charges to income $ 168.2 $ 81.2
Cost of issuing debt securities, less amortization 24.0 11.2
Other 24.5 24.7
12. SHORT-TERM OBLIGATIONS
Amounts due for redemption within one year are as follows:
$ 216.7 $ 117.1
(millions) 2000 1999
Notes payable under commercial paper programs $ 904.0 $ 246.5
Bank borrowings 3,913.7 –
Current maturities of long-term debt 215.6 326.7
$ 5,033.3 $ 573.2
Notes payable under commercial paper programs are unsecured. At December 31, 1999, $380.0 million of commercial
paper notes was classified as long-term debt on the basis of the availability of a $380.0 million long-term credit facility
agreement. In addition, the Company had in place committed operating lines of credit of $311.0 million. This long-term
credit facility was replaced in the year 2000 by new bank credit facilities and all commercial paper notes outstanding at
December 31, 2000, are classified as part of Short-Term Obligations. At December 31, 2000, outstanding notes payable
under these programs range in maturity from 3 to 197 days and carry a weighted average interest rate of 5.86%.
Other short-term borrowings include debt incurred by TELUS Corporation under new bank credit facilities, with total
aggregate availability of up to $6.25 billion. These 364-day facilities, newly established in the year 2000 and with the
acquisition of Clearnet, replaced the majority of TELUS’ existing bank credit facilities. Credit is available in two tranches,
for the following purposes: to finance the acquisition of Clearnet, to refinance existing and acquired indebtedness and for
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