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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net earnings $ 8,295 $ 9,077
Adjustments for:    
Depreciation, depletion, amortization and impairment 6,435 8,786
Deferred income tax expense (recovery) 560 (990)
Accretion 532 316
Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt (184) 729
Change in fair value of financial instruments and trading inventory (5) (38)
Bargain purchase gain and revaluations (1,125)  
(Gain) loss on disposal of assets (992) 45
Loss on extinguishment of long-term debt   32
Share-based compensation 108 328
Settlement of decommissioning and restoration liabilities (390) (314)
Other 91 130
Increase in non-cash working capital (981) (2,421)
Cash flow provided by operating activities 12,344 15,680
Investing Activities    
Capital and exploration expenditures (5,828) (4,987)
Capital expenditures classified as assets held for sale (108) (133)
Acquisitions (2,394)  
Proceeds from disposal of assets 1,882 315
Other investments (83) (36)
Decrease in non-cash working capital 20 52
Cash flow used in investing activities (6,511) (4,789)
Financing Activities    
Net (decrease) increase in short-term debt (2,343) 1,473
Repayment of long-term debt (5) (5,128)
Issuance of long-term debt 1,500  
Lease liability payments (331) (329)
Issuance of common shares under share option plans 187 496
Repurchase of common shares (2,233) (5,135)
Distributions relating to non-controlling interest (16) (9)
Dividends paid on common shares (2,749) (2,596)
Cash flow used in financing activities (5,990) (11,228)
Decrease in Cash and Cash Equivalents (157) (337)
Effect of foreign exchange on cash and cash equivalents (94) 112
Cash and cash equivalents at beginning of year 1,980 2,205
Cash and Cash Equivalents at End of Year 1,729 1,980
Supplementary Cash Flow Information    
Interest paid 887 973
Income taxes paid $ 2,604 $ 4,737