INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 348	$ 431
Reconciliation of net income to cash provided by operating activities:
Depreciation and amortization	170	166
Deferred income taxes	41	67
Pension funding in excess of expense	(72)	(60)
Foreign exchange loss (gain) on long-term debt	49	(28)
Other operating activities, net	(21)	(85)
Change in non-cash working capital balances related to operations	(118)	(180)
Cash provided by operating activities	397	311
Investing activities
Additions to properties	(241)	(230)
Proceeds from sale of properties and other assets	4	3
Other	(1)	5
Cash used in investing activities	(238)	(222)
Financing activities
Dividends paid	(82)	(73)
Issuance of CP Common Shares	8	28
Purchase of CP Common Shares	(298)	0
Repayment of long-term debt, excluding commercial paper	(5)	(5)
Cash used in financing activities	(377)	(50)
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents	5	(2)
Cash position
(Decrease) increase in cash and cash equivalents	(213)	37
Cash and cash equivalents at beginning of period	338	164
Cash and cash equivalents at end of period	125	201
Supplemental disclosures of cash flow information:
Income taxes paid	104	170
Interest paid	$ 143	$ 150