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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2023
CAD ($)
Dec. 31, 2022
CAD ($)
Operating activities:    
Net income for the year $ 849 $ 1,680
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 4,121 2,576
Program rights amortization 70 61
Finance costs 2,047 1,233
Income tax expense 517 609
Post-employment benefits contributions, net of expense 46 19
Losses from associates and joint ventures 412 31
Other 5 (55)
Cash provided by operating activities before changes in net operating assets and liabilities, income taxes paid, and interest paid 8,067 6,154
Change in net operating assets and liabilities (627) (152)
Income taxes paid (439) (455)
Interest paid, net (1,780) (1,054)
Cash provided by operating activities 5,221 4,493
Investing activities:    
Capital expenditures (3,934) (3,075)
Additions to program rights (74) (47)
Changes in non-cash working capital related to capital expenditures and intangible assets (2) (200)
Acquisitions and other strategic transactions, net of cash acquired (16,215) (9)
Other 25 68
Cash used in investing activities (20,200) (3,263)
Financing activities:    
Net (repayment of) proceeds received from short-term borrowings (1,439) 707
Net issuance of long-term debt 5,040 12,711
Net proceeds (payments) on settlement of debt derivatives and forward contracts 492 (11)
Transaction costs incurred (284) (726)
Principal payments of lease liabilities (370) (316)
Dividends paid (960) (1,010)
Cash provided by financing activities 2,479 11,355
Change in cash and cash equivalents and restricted cash and cash equivalents (12,500) 12,585
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period 13,300 715
Cash and cash equivalents and restricted cash and cash equivalents, end of period 800 13,300
Cash and cash equivalents 463  
Restricted cash and cash equivalents 0 12,837
Cash and cash equivalents and restricted cash and cash equivalents, end of period $ 800 $ 13,300