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Consolidated Statements of Cash Flows - CAD
CAD in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income CAD 3,640 CAD 3,538 CAD 3,167
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,225 1,158 1,050
Deferred income taxes 704 600 416
Gain on disposal of property (76) 0 (80)
Changes in operating assets and liabilities:      
Accounts receivable (3) 188 (59)
Material and supplies (2) 4 (51)
Accounts payable and other (51) (282) 0
Other current assets 21 46 5
Pensions and other, net (256) (112) (67)
Net cash provided by operating activities 5,202 5,140 4,381
Investing activities      
Property additions (2,695) (2,706) (2,297)
Disposal of property 85 0 173
Change in restricted cash and cash equivalents 27 (60) (15)
Other, net (72) (61) (37)
Net cash used in investing activities (2,655) (2,827) (2,176)
Financing activities      
Issuance of debt 1,509 841 1,022
Repayment of debt (955) (752) (822)
Net issuance (repayment) of commercial paper 137 451 (277)
Settlement of foreign exchange forward contracts on long-term debt (21) 0 0
Issuance of common shares for stock options exercised 61 79 30
Withholding taxes remitted on the net settlement of equity settled awards (44) (2) 0
Repurchase of common shares (1,992) (1,742) (1,505)
Purchase of common shares for settlement of other equity settled awards (15) (2) 0
Purchase of common shares by Share Trusts (60) (100) 0
Dividends paid (1,159) (996) (818)
Net cash used in financing activities (2,539) (2,223) (2,370)
Effect of foreign exchange fluctuations on US dollar-denominated cash and cash equivalents 15 11 3
Net increase (decrease) in cash and cash equivalents 23 101 (162)
Cash and cash equivalents, beginning of year 153 52 214
Cash and cash equivalents, end of year CAD 176 CAD 153 CAD 52