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Consolidated statements of cash flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities    
Net earnings $ 2,973 $ 3,050
Adjustments to reconcile net earnings to cash flows from operating activities    
Severance, acquisition and other costs 136 190
Depreciation and amortization 4,014 3,844
Post-employment benefit plans cost 335 314
Net interest expense 987 942
Losses on investments 34 5
Income taxes 995 1,069
Contributions to post-employment benefit plans (539) (413)
Payments under other post-employment benefit plans (75) (77)
Severance and other costs paid (138) (147)
Interest paid (990) (965)
Income taxes paid (net of refunds) (650) (675)
Acquisition and other costs paid (79) (155)
Net change in operating assets and liabilities 381 376
Cash flows from operating activities 7,384 7,358
Cash flows used in investing activities    
Capital expenditures (3,971) (4,034)
Business acquisitions (395) (1,649)
Disposition of intangibles and other assets 68 323
Acquisition of spectrum licenses (56) 0
Other investing activities (32) (77)
Cash flows used in investing activities (4,386) (5,437)
Cash flows used in financing activities    
(Decrease) increase in notes payable (123) 333
Issue of long-term debt 2,996 3,011
Repayment of long-term debt (2,713) (2,653)
Issue of common shares 11 117
Purchase of shares for settlement of share-based payments (222) (224)
Repurchase of common shares (175) 0
Cash dividends paid on common shares (2,679) (2,512)
Cash dividends paid on preferred shares (149) (127)
Cash dividends paid by subsidiaries to non-controlling interest (16) (34)
Return of capital to non-controlling interest (51) 0
Other financing activities (77) (60)
Cash flows used in financing activities (3,198) (2,149)
Net decrease in cash (17) (161)
Cash at beginning of year 442 603
Cash at end of year 425 442
Net decrease in cash equivalents (183) (67)
Cash equivalents at beginning of year 183 250
Cash equivalents at end of year $ 0 $ 183