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Consolidated Statements of Cash Flows (unaudited) - CAD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Activities        
Net Earnings (Loss) $ 820 $ 1,864 $ 2,996 $ 3,366
Depreciation, Depletion and Amortization 1,218 1,197 3,646 3,374
Deferred Income Tax Expense (Recovery) (46) (2) (124) (416)
Unrealized (Gain) Loss on Risk Management 7 72 31 88
Unrealized Foreign Exchange (Gain) Loss (108) 59 101 (99)
Realized Foreign Exchange (Gain) Loss on Non-Operating Items 0 98 0 98
(Gain) loss on divestiture of assets [1] (17) 0 (121) 22
Re-measurement of Contingent Payments 0 67 30 83
Unwinding of Discount on Decommissioning Liabilities 56 55 169 165
(Income) Loss From Equity-Accounted Affiliates (11) (11) (48) (23)
Distributions Received From Equity-Accounted Affiliates 15 23 133 117
Expense from share-based payment transactions (13) 144 (143) 90
Other 39 (119) (107) (124)
Settlement of Decommissioning Liabilities (74) (68) (170) (157)
Net Change in Non-Cash Working Capital 588 (641) 813 (2,142)
Cash From (Used in) Operating Activities 2,474 2,738 7,206 4,442
Investing Activities        
Cash Acquired Through Business Combination (4) (32) (19) (501)
Capital Investment (1,346) (1,025) (3,537) (3,128)
Proceeds From Divestitures 22 1 47 12
Net Change in Investments and Other 1 (8) (63) (101)
Net Change in Non-Cash Working Capital 19 (37) (41) (297)
Cash From (Used in) Investing Activities (1,308) (1,101) (3,613) (4,015)
Net Cash Provided (Used) Before Financing Activities 1,166 1,637 3,593 427
Financing Activities        
Net Issuance (Repayment) of Short-Term Borrowings (35) 14 (74) (101)
Repayment of Long-Term Debt 0 (1,346) 0 (1,346)
Principal Repayment of Leases (74) (70) (219) (216)
Common Shares Issued Under Stock Option Plans 1 25 51 43
Purchase of Common Shares Under NCIB (732) (361) (1,337) (711)
Payment for Purchase of Warrants 0 (600) 0 (600)
Proceeds From Exercise of Warrants 8 5 25 16
Other (5) (3) (7) (3)
Cash From (Used in) Financing Activities (1,175) (2,600) (2,764) (3,674)
Effect of Foreign Exchange on Cash and Cash Equivalents (41) 58 48 (15)
Increase (Decrease) in Cash and Cash Equivalents (50) (905) 877 (3,262)
Cash and Cash Equivalents, Beginning of Period 3,154 2,167 2,227 4,524
Cash and Cash Equivalents, End of Period 3,104 1,262 3,104 1,262
Common shares        
Financing Activities        
Dividends paid (329) (264) (925) (729)
Variable Dividends Paid on Common Shares     (251)  
Preferred Shares        
Financing Activities        
Dividends paid $ (9) $ 0 $ (27) $ (27)
[1] Revised presentation as of January 1, 2024. See Note 3.