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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating Activities    
Net earnings $ 6,016 $ 8,295
Adjustments for:    
Depreciation, depletion, amortization and impairment 6,954 6,435
Deferred income tax (recovery) expense (294) 560
Accretion 592 532
Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt 714 (184)
Change in fair value of financial instruments and trading inventory (122) (5)
Bargain purchase gain and revaluations   (1,125)
Gain on disposal of assets (25) (992)
Loss on extinguishment of long-term debt 170  
Share-based compensation (57) 108
Settlement of decommissioning and restoration liabilities (488) (390)
Other 386 91
Decrease (increase) in non-cash working capital 2,114 (981)
Cash flow provided by operating activities 15,960 12,344
Investing Activities    
Capital and exploration expenditures (6,483) (5,828)
Capital expenditures on assets held for sale   (108)
Acquisitions, net of cash acquired   (2,394)
Proceeds from disposal of assets 51 1,882
Other investments (52) (83)
Decrease in non-cash working capital 12 20
Cash flow used in investing activities (6,472) (6,511)
Financing Activities    
Net decrease in short-term debt (503) (2,343)
Repayment of long-term debt (1,566) (5)
Issuance of long-term debt   1,500
Lease liability payments (471) (331)
Issuance of common shares under share option plans 385 187
Repurchase of common shares (2,908) (2,233)
Distributions relating to non-controlling interest (16) (16)
Dividends paid on common shares (2,803) (2,749)
Cash flow used in financing activities (7,882) (5,990)
Increase (Decrease) in Cash and Cash Equivalents 1,606 (157)
Effect of foreign exchange on cash and cash equivalents 149 (94)
Cash and cash equivalents at beginning of year 1,729 1,980
Cash and Cash Equivalents at End of Year 3,484 1,729
Supplementary Cash Flow Information    
Interest paid 914 887
Income taxes paid $ 1,751 $ 2,604