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Consolidated Statements of Cash Flows - CAD
CAD in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income CAD 3,538 CAD 3,167 CAD 2,612
Adjustments to reconcile net income to net cash provided from operating activities:      
Depreciation and amortization 1,158 1,050 980
Deferred income taxes 600 416 331
Gain on disposal of property 0 (80) (69)
Gain on disposal of investment 0 0 0
Changes in operating assets and liabilities:      
Accounts receivable 188 (59) 32
Material and supplies 4 (51) (38)
Accounts payable and other (282) 0 (245)
Other current assets 46 5 13
Pensions and other, net (112) (67) (68)
Net cash provided by operating activities 5,140 4,381 3,548
Investing activities      
Property additions (2,706) (2,297) (1,973)
Acquisitions, net of cash acquired 0 0 0
Disposal of property 0 173 52
Change in restricted cash and cash equivalents (60) (15) 73
Other, net (61) (37) (4)
Net cash used in investing activities (2,827) (2,176) (1,852)
Financing activities      
Issuance of debt 841 1,022 1,582
Repayment of debt (752) (822) (1,413)
Net issuance (repayment) of commercial paper 451 (277) 268
Common shares issued for stock options exercised, excess tax benefits, and other 75 30 31
Repurchase of common shares (1,742) (1,505) (1,400)
Purchase of common shares by Share Trusts 100 0 0
Dividends paid (996) (818) (724)
Net cash used in financing activities (2,223) (2,370) (1,656)
Effect of foreign exchange fluctuations on US dollar-denominated cash and cash equivalents 11 3 19
Net increase (decrease) in cash and cash equivalents 101 (162) 59
Cash and cash equivalents, beginning of year 52 214 155
Cash and cash equivalents, end of year CAD 153 CAD 52 CAD 214