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Emergis provides e-business solutions to the financial services industry in North America and the health-care industry in Canada. It auto- mates transactions between companies and allows them to interact and transact elec- tronically. Before Emergis sold its Security business it also provided organizations with the related security services. Before Emergis sold its US Health operations, it also operated cost contain- ment networks that process medical claims for health- care payers, including insur- ance companies and self-insured entities. 

## Notes to Consolidated Financial Statements 

The table below shows the significant components of income tax expense relating to earnings from continu- ing operations. 

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The table below shows future income taxes resulting from temporary differences between the carrying amounts of assets and liabilities for accounting pur- poses and the amounts used for tax purposes, as well as tax loss carryforwards. 

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At December 31, 2004, BCE had $3,029 million in non-capital loss carryforwards. We: 

• recognized a future tax asset of $826 million for finan- cial reporting purposes for approximately $2,425 mil- lion of the non-capital loss carryforwards. Of the total, $2,319 million expires in varying annual amounts until the end of 2011. The balance expires in varying annual amounts from 2012 to 2024. 

• did not recognize a future tax asset for financial reporting purposes for approximately $604 million of the non-capital loss carryforwards. Of the total, 

$599 million expires in varying annual amounts until the end of 2011. The balance expires in varying annual amounts from 2012 to 2024. 

At December 31, 2004, BCE had $4,225 million in capital loss carryforwards, which can be carried for- ward indefinitely. We: 

• recognized a future tax asset of $23 million for finan- cial reporting purposes for approximately $102 mil- lion of the capital loss carryforwards 

• did not recognize a future tax asset for financial reporting purposes on the balance. 

## Note 9 : Discontinued Operations 

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The table below is a summarized statement of opera- tions for the discontinued operations. 

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## Emergis 

In May 2004, our board of directors approved the sale of our 63.9% interest in Emergis. In June 2004, BCE completed the sale of its interest in Emergis by way of a secondary public offering. 

