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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD
CAD in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income CAD 1,352 CAD 1,476 CAD 875
Reconciliation of net income to cash provided by operating activities:      
Depreciation and amortization 595 552 565
Deferred income taxes 234 354 212
Pension funding in excess of expense (49) (132) (55)
Asset impairment 0 0 435
Other operating activities, net 52 (3) (80)
Change in non-cash working capital balance related to operations 275 (124) (2)
Cash provided by operating activities 2,459 2,123 1,950
Investing activities      
Additions to properties (1,522) (1,449) (1,236)
Proceeds from the sale of west end of Dakota, Minnesota and Eastern Railroad 0 236 0
Proceeds from the sale of Delaware & Hudson South 281 0 0
Proceeds from sale of properties and other assets 114 52 73
Change in restricted cash and cash equivalents used to collateralize letters of credit 0 411 (411)
Other 4 0 (23)
Cash used in investing activities (1,123) (750) (1,597)
Financing activities      
Dividends paid (226) (244) (244)
Issuance of CP Common Shares 43 62 83
Purchase of CP Common Shares (2,787) (2,050) 0
Issuance of long-term debt, excluding commercial paper 3,411 0 0
Repayment of long-term debt, excluding commercial paper (505) (183) (56)
Net (repayment) issuance of commercial paper (893) 771 0
Settlement of foreign exchange forward on long-term debt 0 17 0
Other 0 (3) (3)
Cash used in financing activities (957) (1,630) (220)
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents 45 7 10
Cash position      
Increase (decrease) in cash and cash equivalents 424 (250) 143
Cash and cash equivalents at beginning of year 226 476 333
Cash and cash equivalents at end of year 650 226 476
Supplemental disclosures of cash flow information:      
Income taxes paid 176 226 31
Interest paid CAD 336 CAD 309 CAD 295