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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - CAD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating activities        
Net income $ 635 $ 724 $ 1,044 $ 1,158
Reconciliation of net income to cash provided by operating activities:        
Depreciation and amortization 195 183 387 343
Deferred income tax expense (recovery) 49 (18) 88 20
Pension recovery and funding (62) (89) (127) (177)
Foreign exchange (gain) loss on debt and lease liabilities (86) (37) 129 (82)
Other operating activities, net 27 18 (45) 63
Change in non-cash working capital balances related to operations 77 (60) (152) (191)
Cash provided by operating activities 835 721 1,324 1,134
Investing activities        
Additions to properties (502) (459) (857) (683)
Investment in Central Maine & Quebec Railway 19 0 19 0
Proceeds from sale of properties and other assets 5 8 7 14
Other investing activities 10 (4) 1 (5)
Cash used in investing activities (468) (455) (830) (674)
Financing activities        
Dividends paid (112) (91) (226) (182)
Issuance of CP Common Shares 5 10 29 14
Purchase of CP Common Shares (44) (257) (545) (464)
Issuance of long-term debt, excluding commercial paper (1) 0    
Issuance of long-term debt, excluding commercial paper     958 397
Repayment of long-term debt, excluding commercial paper (10) (480) (25) (485)
Net (repayment) issuance of commercial paper (20) 246 (573) 246
Net (decrease) increase in short-term borrowings (140) 0 5 0
Other financing activities 0 0 11 0
Cash used in financing activities (322) (572) (366) (474)
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents (15) (1) 16 (2)
Cash position        
Increase (decrease) in cash and cash equivalents 30 (307) 144 (16)
Cash and cash equivalents at beginning of period 247 352 133 61
Cash and cash equivalents at end of period 277 45 277 45
Supplemental disclosures of cash flow information:        
Income taxes paid 5 108 144 257
Interest paid $ 63 $ 83 $ 220 $ 232