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Consolidated Statements of Cash Flows
$ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
CAD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
CAD ($)
Dec. 31, 2019
USD ($)
Operating activities        
Profit (loss) for the year $ (944)   $ (588)  
Depreciation and amortization 1,510   1,619  
Provision for (recovery of) income taxes (192)   120  
Asset impairments 1,244   2,690  
Gain on sale of investments and assets (75)   (17)  
Loss on debt redemption or purchase 11   224  
Gain on debt prepayment option 0   (105)  
Net finance expense 268   218  
Income taxes paid (233)   (595)  
Remeasurement of decommissioning and restoration provisions for closed operations   $ 169   $ 104
Other 46   (26)  
Net change in non-cash working capital items (241)   (160)  
Net cash from operating activities 1,563   3,484  
Investing activities        
Expenditures on property, plant and equipment (3,129)   (2,788)  
Capitalized production stripping costs (499)   (680)  
Expenditures on investments and other assets (190)   (178)  
Proceeds from investments and assets 146   80  
Net cash used in investing activities (3,672)   (3,566)  
Financing activities        
Proceeds from debt   2,426   0
Redemption or purchase and repayment of debt (457) (268) (835)  
Revolving credit facilities   $ 363   $ 0
Repayment of lease liabilities (163)   (150)  
QB2 advances from SMM/SC 41   938  
QB2 equity contributions by SMM/SC 0   797  
QB2 partnering and financing transaction costs paid (8)   (113)  
Interest and finance charges paid (355)   (386)  
Issuance of Class B subordinate voting shares 1   10  
Purchase and cancellation of Class B subordinate voting shares (207)   (661)  
Dividends paid (106)   (111)  
Distributions to non-controlling interests (7)   (26)  
Net cash used in financing activities 1,528   (537)  
Effect of exchange rate changes on cash and cash equivalents 5   (89)  
Net increase (decrease) in cash and cash equivalents (576)   (708)  
Cash and cash equivalents at beginning of year 1,026   1,734  
Cash and cash equivalents at end of year $ 450   $ 1,026