BCE Inc. Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	6,460	344	2,263	2,868	2,840
Depreciation & Amortization	5,238	3,899	3,885	3,797	3,758
Other Amortization	-	1,142	1,033	926	851
Asset Writedown & Restructuring Costs	1,119	2,243	99	233	160
Loss (Gain) From Sale of Investments	-5,217	-57	-80	-24	6
Loss (Gain) on Equity Investments	-	247	581	42	-
Other Operating Activities	50	-296	322	198	108
Change in Accounts Receivable	-	-	-	-59	278
Change in Other Net Operating Assets	-657	-534	-157	384	7
Operating Cash Flow	6,993	6,988	7,946	8,365	8,008
Operating Cash Flow Growth	0.07%	-12.06%	-5.01%	4.46%	3.28%
Capital Expenditures	-3,700	-3,897	-4,581	-5,133	-4,852
Cash Acquisitions	-4,992	-624	-222	-429	-12
Divestitures	102	-	209	52	-
Sale (Purchase) of Intangibles	-3	-531	-183	-3	-2,082
Investment in Securities	5,001	600	-1,000	-	-
Other Investing Activities	-8	14	-4	-4	-72
Investing Cash Flow	-3,600	-4,438	-5,781	-5,517	-7,018
Short-Term Debt Issued	-	-	-	700	-
Long-Term Debt Issued	8,261	5,779	5,195	2,062	5,336
Total Debt Issued	8,261	5,779	5,195	2,762	5,336
Short-Term Debt Repaid	-	-	-	-	-150
Long-Term Debt Repaid	-10,092	-3,303	-2,653	-2,023	-2,751
Total Debt Repaid	-10,092	-3,303	-2,653	-2,023	-2,901
Net Debt Issued (Repaid)	-1,831	2,476	2,542	739	2,435
Issuance of Common Stock	-	-	18	171	261
Repurchase of Common Stock	-216	-235	-223	-255	-297
Preferred Dividends Paid	-151	-187	-182	-136	-125
Common Dividends Paid	-2,026	-3,613	-3,486	-3,312	-3,132
Dividends Paid	-2,177	-3,800	-3,668	-3,448	-3,257
Other Financing Activities	-240	-99	-71	-70	-67
Financing Cash Flow	-4,646	-1,750	-1,542	-2,988	-925
Foreign Exchange Rate Adjustments	1	-	-	-	-
Miscellaneous Cash Flow Adjustments	-	225	-175	-50	-
Net Cash Flow	-1,252	1,025	448	-190	65
Free Cash Flow	3,293	3,091	3,365	3,232	3,156
Free Cash Flow Growth	6.54%	-8.14%	4.12%	2.41%	-11.15%
Free Cash Flow Margin	13.46%	12.66%	13.64%	13.37%	13.46%
Free Cash Flow Per Share	3.54	3.39	3.69	3.54	3.48
Cash Interest Paid	1,808	1,759	1,486	1,197	1,080
Cash Income Tax Paid	737	783	700	749	913
Levered Free Cash Flow	3,265	2,422	2,777	2,841	572.75
Unlevered Free Cash Flow	4,374	3,493	3,698	3,557	1,249
Change in Working Capital	-657	-534	-157	325	285

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q