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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating activities        
Net income $ 903 $ 1,325 $ 1,677 $ 2,125
Reconciliation of net income to cash provided by operating activities:        
Depreciation and amortization (Note 8) 473 410 940 635
Deferred income tax expense (recovery) (Note 4, 8) 18 (7,953) 35 (7,928)
Pension recovery and funding (Note 12) (75) (78) (151) (155)
Equity earnings of Kansas City Southern (Note 8, 9) 0 (26) 0 (230)
Remeasurement loss of Kansas City Southern (Note 8) 0 7,175 0 7,175
Dividend from Kansas City Southern (Note 9) 0 0 0 300
Settlement of foreign currency forward contracts (Note 11) 0 0 (65) 0
Other operating activities, net (69) 28 (68) (19)
Changes in non-cash working capital balances related to operations 28 11 (75) (129)
Net cash provided by operating activities 1,278 892 2,293 1,774
Investing activities        
Additions to properties (808) (628) (1,335) (1,034)
Additions to Meridian Speedway properties (16) (8) (20) (8)
Proceeds from sale of properties and other assets 9 12 10 16
Cash acquired on control of Kansas City Southern (Note 8) 0 298 0 298
Investment in government securities (Note 12) 0 (267) 0 (267)
Other investing activities, net 33 (24) 21 (24)
Net cash used in investing activities (782) (617) (1,324) (1,019)
Financing activities        
Dividends paid (178) (176) (355) (353)
Issuance of Common Shares 20 19 42 37
Repayment of long-term debt, excluding commercial paper (Note 10) (149) (610) (220) (1,096)
Net (repayment) issuance of commercial paper (Note 10) (157) 550 (362) 550
Acquisition-related financing fees (Note 12) 0 (15) 0 (15)
Other 0 (1) 0 (1)
Net cash used in financing activities (464) (233) (895) (878)
Effect of foreign currency fluctuations on foreign-denominated cash and cash equivalents 6 (7) 19 (3)
Cash position        
Net increase (decrease) in cash and cash equivalents 38 35 93 (126)
Cash and cash equivalents at beginning of period 519 290 464 451
Cash and cash equivalents at end of period 557 325 557 325
Supplemental cash flow information        
Income taxes paid 309 259 551 443
Interest paid $ 161 $ 271 $ 406 $ 418