EX-99.6 7 d333083dex996.htm BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION

Exhibit 99.6

NOTICE OF RELIANCE

SECTION 13.4 OF NATIONAL INSTRUMENT 51-102

CONTINUOUS DISCLOSURE OBLIGATIONS

 

To:

Alberta Securities Commission

British Columbia Securities Commission

Manitoba Securities Commission

Financial and Consumer Services Commission, New Brunswick

Office of the Superintendent of Securities, Newfoundland and Labrador

Nova Scotia Securities Commission

Ontario Securities Commission

Office of the Superintendent of Securities, Prince Edward Island

Autorité des marchés financiers

Financial and Consumer Affairs Authority of Saskatchewan

Toronto Stock Exchange

 

Notice is hereby given that Bell Canada relies on the continuous disclosure documents filed by BCE Inc. pursuant to the exemption from the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) provided in Section 13.4 of NI 51-102.

The continuous disclosure documents of BCE Inc. can be found for viewing in electronic format at www.sedar.com.

Attached to this notice and forming part thereof is the consolidating summary financial information for BCE Inc. as required by Section 13.4 of NI 51-102.

 

Dated: March 11, 2021          
        BELL CANADA
        By:   (signed) Thierry Chaumont              
                         Name:   Thierry Chaumont
        Title:   Senior Vice-President, Controller and Tax

 

LOGO


 

  BELL CANADA

 

 

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION (1)

For the periods ended December 31, 2020 and 2019

(in millions of Canadian dollars)

BCE Inc. fully and unconditionally guarantees the payment obligations of its 100% owned subsidiary Bell Canada under the public debt issued by Bell Canada. Accordingly, the following summary financial information is provided by Bell Canada in compliance with the requirements of section 13.4 of National Instrument 51-102 (Continuous Disclosure Obligations) providing for an exemption for certain credit support issuers. The tables below contain selected summary financial information for (i) BCE Inc. (as credit supporter), (ii) Bell Canada (as credit support issuer) on a consolidated basis, (iii) BCE Inc.’s subsidiaries, other than Bell Canada, on a combined basis, (iv) consolidating adjustments, and (v) BCE Inc. and all of its subsidiaries on a consolidated basis, in each case for the periods indicated. Such summary financial information for BCE Inc. and Bell Canada and all other subsidiaries is intended to provide investors with meaningful and comparable financial information about BCE Inc. and its subsidiaries. This summary financial information should be read in conjunction with BCE Inc.’s audited consolidated financial statements for the year ended December 31, 2020. On June 1, 2020, BCE announced that it had entered into an agreement to sell substantially all of its data centre operations. As a result, we have reclassified amounts related to the sale for the previous year to discontinued operations in the income statements to make them consistent with the presentation for the current year. The sale was completed in the fourth quarter of 2020.

For the periods ended December 31:

 

       BCE INC.            BELL CANADA CONSOLIDATED                SUBSIDIARIES OF BCE INC.                  CONSOLIDATING              BCE INC.  
            (“CREDIT SUPPORTER”)(2)            (“CREDIT SUPPORT ISSUER”)        OTHER THAN BELL CANADA(3)        ADJUSTMENTS(4)            CONSOLIDATED      
            2020         2019                   2020         2019                   2020           2019                     2020           2019                   2020           2019         

Operating revenues

                        22,885       23,795                             (2     (2          22,883       23,793    

Net earnings from continuing operations attributable to owners

       2,408       3,162                       2,599       3,357                       120       137            (2,719     (3,494          2,408       3,162    

Net earnings attributable to owners

       2,634       3,191                  2,940       3,386                  120       137                       (3,060     (3,523                     2,634       3,191          

As at December 31, 2020 and December 31, 2019, respectively:

 

       BCE INC.            BELL CANADA CONSOLIDATED                SUBSIDIARIES OF BCE INC.                  CONSOLIDATING              BCE INC.  
            (“CREDIT SUPPORTER”)(2)            (“CREDIT SUPPORT ISSUER”)        OTHER THAN BELL CANADA(3)        ADJUSTMENTS(4)            CONSOLIDATED      
       Dec. 31,     Dec. 31,              Dec. 31,     Dec. 31,              Dec. 31,     Dec. 31,              Dec. 31,     Dec. 31,              Dec. 31,     Dec. 31,        
            2020     2019                   2020     2019                   2020     2019                   2020     2019                   2020     2019         

Total Current Assets

       711       651                       9,291       7,687                       337       420                       (4,651     (3,238                     5,688       5,520    

Total Non-current Assets

       24,971       23,745            48,444       48,030            38       39            (18,476     (17,188          54,977       54,626    

Total Current Liabilities

       4,589       3,219            8,238       9,721            95       75            (4,651     (3,238          8,271       9,777    

Total Non-current Liabilities

       104       103                  30,367       28,254                        29                  594       575                  31,065       28,961          

 

(1) 

The summary financial information is prepared in accordance with International Financial Reporting Standards (IFRS) and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly-accountable enterprises.

(2) 

This column accounts for investments in all subsidiaries of BCE Inc. under the equity method.

(3) 

This column accounts for investments in all subsidiaries of BCE Inc. (other than Bell Canada) on a consolidated basis.

(4) 

This column includes the necessary amounts to eliminate the intercompany balances between BCE Inc., Bell Canada and other subsidiaries and other adjustments to arrive at the information for BCE Inc. on a consolidated basis.