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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating activities        
Net income $ 837 $ 780 $ 2,514 $ 2,905
Reconciliation of net income to cash provided by operating activities:        
Depreciation and amortization 472 451 1,412 1,086
Deferred income tax expense (recovery) (Note 4, 8) 5 3 40 (7,925)
Pension recovery and funding (Note 12) (79) (76) (230) (231)
Equity earnings of Kansas City Southern (Note 8, 9) 0 0 0 (230)
Remeasurement loss of Kansas City Southern (Note 8) 0 0 0 7,175
Dividend from Kansas City Southern (Note 9) 0 0 0 300
Settlement of Mexican taxes (Note 4) (2) (75) (2) (75)
Settlement of foreign currency forward contracts (Note 11) 0 0 (65) 0
Other operating activities, net 59 11 (9) (8)
Changes in non-cash working capital balances related to operations (20) (67) (95) (196)
Net cash provided by operating activities 1,272 1,027 3,565 2,801
Investing activities        
Additions to properties (748) (733) (2,083) (1,767)
Additions to Meridian Speedway properties (9) (19) (29) (27)
Proceeds from sale of properties and other assets 9 12 19 28
Cash acquired on control of Kansas City Southern (Note 8) 0 0 0 298
Investment in government securities 0 0 0 (267)
Other investing activities, net (12) (2) 9 (26)
Net cash used in investing activities (760) (742) (2,084) (1,761)
Financing activities        
Dividends paid (177) (177) (532) (530)
Issuance of Common Shares 13 13 55 50
Repayment of long-term debt, excluding commercial paper (Note 10) (89) (12) (309) (1,108)
Net (repayment) issuance of commercial paper (Note 10) (343) (147) (705) 403
Acquisition-related financing fees 0 (2) 0 (17)
Other financing activities, net 0 1 0 0
Net cash used in financing activities (596) (324) (1,491) (1,202)
Effect of foreign currency fluctuations on foreign-denominated cash and cash equivalents (10) 8 9 5
Cash position        
Net decrease in cash and cash equivalents (94) (31) (1) (157)
Cash and cash equivalents at beginning of period 557 325 464 451
Cash and cash equivalents at end of period 463 294 463 294
Supplemental cash flow information        
Income taxes paid 173 205 724 648
Interest paid $ 157 $ 152 $ 563 $ 570