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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities    
Earnings $ 1,492 $ 1,278 [1],[2]
Adjustments for:    
Share of profit from equity accounted investees (Note 10) (370) (411) [2]
Distributions from equity accounted investees (Note 10) 575 622 [2]
Depreciation and amortization (Note 8 & 9) 511 417 [2]
Impairment of investment in equity accounted investees (Note 10) 300 0 [1],[2]
Unrealized loss (gain) on commodity-related derivative financial instruments 13 (73) [2]
Net finance costs (Note 19) 294 279 [2]
Net interest paid (Note 19) (269) (259) [2]
Income tax expense (Note 11) 36 464 [2]
Taxes paid (141) (26) [2]
Share-based compensation expense (Note 23) 66 63 [2]
Share-based compensation payment (50) (32) [2]
Loss on asset disposal (1) 19 [2]
Net change in contract liabilities (30) 11 [2]
Other 0 (13) [2]
Change in non-cash operating working capital 106 (83) [2]
Cash flow from operating activities 2,532 2,256 [2]
Financing activities    
Bank borrowings and issuance of debt 2,153 1,366 [2]
Repayment of loans and borrowings (1,866) (1,998) [2]
Repayment of lease liability (68)  
Issuance of medium term notes (Note 14) 2,318 700 [2]
Issue costs and financing fees (14) (8) [2]
Exercise of stock options 151 61 [2]
Dividends paid (1,323) (1,247) [2]
Cash flow provided by (used in) financing activities 1,351 (1,126) [2]
Investing activities    
Capital expenditures (1,645) (1,226) [2]
Contributions to equity accounted investees (Note 10) (206) (58) [2]
Acquisitions (Note 6) (2,009) 0 [2]
Interest paid during construction (Note 19) (42) (35) [2]
Recovery of assets or proceeds from sale 7 5 [2]
Advances to related parties (63) (84) [2]
Changes in non-cash investing working capital and other 48 87 [2]
Cash flow used in investing activities (3,910) (1,311) [2]
Change in cash and cash equivalents (27) (181) [2]
Effect of movement in exchange rates on cash held (1) 17 [2]
Cash and cash equivalents, beginning of period [2] 157 [3] 321
Cash and cash equivalents, end of period $ 129 $ 157 [2],[3]
[1] Pembina has applied IFRS 16 Leases at January 1, 2019 using the modified retrospective approach and has not restated comparative information. See Note 3.
[2] Pembina has applied IFRS 16 Leases at January 1, 2019 using the modified retrospective approach and has not restated comparative information. See Note 3.
[3] Pembina has applied IFRS 16 Leases at January 1, 2019 using the modified retrospective approach and has not restated comparative information. See Note 3.