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Consolidated Statements of Cash Flows - CAD
CAD in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating Activities    
Net earnings from continuing operations CAD 86,536 CAD 55,642
Adjustments and items not affecting cash:    
Depreciation and amortization 151,627 115,399
Deferred taxes 36,403 13,133
Unrealized loss (gain) on derivative financial instruments (1,990) 3,046
Share-based compensation expense 5,455 3,203
Cost of equity funds used for construction purposes (2,424) (1,910)
Pension and post-employment expense (3,333) (2,050)
Write-down of long-lived assets and loss on disposal 1,781 8,463
Write-down of long-lived assets 220 0
Increase in deferred income 550 0
Changes in non-cash operating items (note 23) (11,149) (1,790)
Changes in non-cash operating items from discontinued operations 0 1,262
Cash used in discontinued operations (1,806) (1,682)
Net Cash Provided by (Used in) Operating Activities, Total 261,870 192,716
Financing Activities    
Cash dividends on common shares (79,121) (57,848)
Cash dividends on preferred shares (10,400) (9,503)
Cash contributions from non-controlling interests 15,222 11,845
Production-based cash contributions from non-controlling interest 10,815 8,976
Cash distributions to non-controlling interests (2,936) (4,738)
Issuance of common shares, net of costs 144,694 261,452
Proceeds from subscription receipts 0 110,503
Issuance of preferred shares, net of costs 0 96,271
Acquisition of non-controlling interest 0 (127,121)
Increase in long-term debt 248,811 236,528
Decrease in long-term debt (196,149) (286,552)
Increase in other long-term liabilities 31,544 18,618
Decrease in other long-term liabilities (6,182) (3,091)
Net Cash Provided by (Used in) Financing Activities, Total 156,298 255,340
Investing Activities    
Increase (decrease) in other assets 281 (13,785)
Distributions received in excess of equity income 1,386 264
Receipt of principal on notes receivable 29,273 280
Additions to property, plant and equipment (204,195) (432,373)
Acquisitions of long-term investments (138,560) (25,432)
Acquisitions of operating entities (3,717) (8,757)
Proceeds from sale of long-lived assets 5,516 26,535
Net Cash Provided by (Used in) Investing Activities, Total (310,016) (453,268)
Effect of exchange rate differences on cash 6,928 646
Increase (decrease) in cash and cash equivalents 115,080 (4,566)
Cash and cash equivalents, beginning of year 9,273 13,839
Cash and cash equivalents, end of year 124,353 9,273
Supplemental disclosure of cash flow information:    
Cash paid during the year for interest expense 69,610 57,098
Cash paid during the year for income taxes 6,153 2,571
Non-cash financing and investing activities:    
Property, plant and equipment acquisitions in accruals 44,834 25,568
Issuance of common shares under dividend reinvestment plan and share-based compensation plans CAD 30,645 CAD 18,129