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Consolidated statement of cash flows (U.S. GAAP, unaudited) - CAD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ 1,195 $ 1,248
Adjustments for non-cash items:    
Depreciation and depletion 490 490
(Gain) loss on asset sales (note 3) (2) (9)
Deferred income taxes and other (164) (56)
Changes in operating assets and liabilities:    
Accounts receivable (722) 436
Inventories, materials, supplies and prepaid expenses (196) (479)
Income taxes payable (234) (2,077)
Accounts payable and accrued liabilities 707 (255)
All other items - net [1] 2 (119)
Cash flows from (used in) operating activities 1,076 (821)
Investing activities    
Additions to property, plant and equipment (497) (429)
Proceeds from asset sales (note 3) 4 14
Loans to equity companies - net 12 1
Cash flows from (used in) investing activities (481) (414)
Financing activities    
Finance lease obligations - reduction (note 6) (5) (5)
Dividends paid (278) (266)
Common shares purchased (note 9) 0 0
Cash flows from (used in) financing activities (283) (271)
Increase (decrease) in cash and cash equivalents 312 (1,506)
Cash and cash equivalents at beginning of period 864 3,749
Cash and cash equivalents at end of period [2] $ 1,176 $ 2,243
[1]
(b) Included contributions to registered pension plans.(37)(42)
[2] (a) Cash equivalents are all highly liquid securities with maturity of three months or less.