INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ 590	$ 602
Reconciliation of net income to cash provided by operating activities:
Depreciation and amortization	210	202
Deferred income tax (recovery) expense	(1)	51
Pension recovery and funding	(72)	(61)
Equity earnings of Kansas City Southern	(198)	0
Foreign exchange gain on debt and lease liabilities	0	(33)
Dividend from Kansas City Southern	334	0
Other operating activities, net	(83)	(88)
Change in non-cash working capital balances related to operations	(167)	(91)
Cash provided by operating activities	613	582
Investing activities
Additions to properties	(226)	(323)
Proceeds from sale of properties and other assets	15	37
Other	5	0
Cash used in investing activities	(206)	(286)
Financing activities
Dividends paid	(177)	(127)
Issuance of CP Common Shares	8	8
Repayment of long-term debt, excluding commercial paper	(542)	(21)
Net issuance of commercial paper	320	93
Acquisition-related financing fees	0	(33)
Cash used in financing activities	(391)	(80)
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents	0	(3)
Cash position
Increase in cash, cash equivalents, and restricted cash	16	213
Cash, cash equivalents, and restricted cash at beginning of period	82	147
Cash, cash equivalents, and restricted cash at end of period	98	360
Supplemental disclosures of cash flow information:
Income taxes paid	159	133
Interest paid	$ 150	$ 155