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condensed interim consolidated statements of cash flows - CAD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES        
Net income (loss) $ 196 $ 498 $ 420 $ 902
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation and amortization 1,006 831 2,028 1,673
Deferred income taxes (36) (5) (129) (6)
Share-based compensation expense, net 30 42 73 68
Net employee defined benefit plans expense 16 25 31 52
Employer contributions to employee defined benefit plans (7) (8) (16) (25)
Non-current contract assets 16 11 30 37
Non-current unbilled customer finance receivables (8) 113 (22) 31
Unrealized change in forward element of virtual power purchase agreements 7 (80) 26 (80)
Loss from equity accounted investments 4 3 8 7
Other (79) (68) (58) (72)
Net change in non-cash operating working capital (28) (112) (513) (202)
Cash provided by operating activities 1,117 1,250 1,878 2,385
INVESTING ACTIVITIES        
Cash payments for capital assets, excluding spectrum licences (777) (1,016) (1,753) (2,029)
Cash payments for spectrum licences (5)   (5)  
Cash payments for acquisitions, net   (353) (1,262) (480)
Advances to, and investment in, real estate joint ventures and associates (112) (2) (117) (2)
Real estate joint venture receipts 2 1 4 2
Proceeds on disposition 7 7 7 12
Investment in portfolio investments and other (23) (75) (115) (140)
Cash used by investing activities (908) (1,438) (3,241) (2,637)
FINANCING ACTIVITIES        
Dividends paid to holders of Common Shares (320) (290) (638) (583)
Issue (repayment) of short-term borrowings, net 1 171 490 165
Long-term debt issued 1,836 1,770 5,517 4,057
Redemptions and repayment of long-term debt (1,898) (1,770) (4,270) (3,629)
Shares of subsidiary purchased from non-controlling interests, net (57) (85) (57) (85)
Other 1   (4) (14)
Cash provided (used) by financing activities (437) (204) 1,038 (89)
CASH POSITION        
Decrease in cash and temporary investments, net (228) (392) (325) (341)
Cash and temporary investments, net, beginning of period 877 774 974 723
Cash and temporary investments, net, end of period 649 382 649 382
SUPPLEMENTAL DISCLOSURE OF OPERATING CASH FLOWS        
Interest paid (295) (195) (581) (375)
Interest received 3   7 1
Income taxes paid, net $ (152) $ (130) $ (279) $ (238)