INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - CAD CAD in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net income	CAD 431	CAD 540
Reconciliation of net income to cash provided by operating activities:
Depreciation and amortization	166	162
Deferred income taxes	67	93
Pension funding in excess of expense	(60)	(42)
Foreign exchange (gain) loss on long-term debt	(28)	(181)
Other operating activities, net	(85)	(66)
Change in non-cash working capital balances related to operations	(180)	(288)
Cash provided by operating activities	311	218
Investing activities
Additions to properties	(230)	(278)
Proceeds from sale of properties and other assets	3	60
Other	5	0
Cash used in investing activities	(222)	(218)
Financing activities
Dividends paid	(73)	(54)
Issuance of CP Common Shares	28	5
Repayment of long-term debt	(5)	(11)
Other	0	(2)
Cash used in financing activities	(50)	(62)
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents	(2)	(17)
Cash position
(Decrease) increase in cash and cash equivalents	37	(79)
Cash and cash equivalents at beginning of period	164	650
Cash and cash equivalents at end of period	201	571
Supplemental disclosures of cash flow information:
Income taxes paid	170	192
Interest paid	CAD 150	CAD 155