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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Profit (loss) for the year $ 2,915 $ (944)
Depreciation and amortization 1,583 1,510
Provision for (recovery of) income taxes 1,617 (192)
(Impairment reversal) asset impairment (215) 1,244
Gain on sale of investments and assets (4) (75)
Loss on debt redemption or purchase 0 11
Net finance expense 210 268
Income taxes paid (849) (233)
Remeasurement of decommissioning and restoration provisions for closed operations 35 169
QB2 variable consideration to IMSA and ENAMI 141 (56)
Other 179 102
Net change in non-cash working capital items (874) (241)
Net cash from operating activities 4,738 1,563
Investing activities    
Expenditures on property, plant and equipment (4,046) (3,129)
Capitalized production stripping costs (667) (499)
Expenditures on investments and other assets (160) (190)
Proceeds from investments and assets 54 146
Net cash used in investing activities (4,819) (3,672)
Financing activities    
Proceeds from debt 1,639 2,426
Revolving credit facilities (335) 363
Redemption, purchase or repayment of debt (155) (457)
Repayment of lease liabilities (139) (163)
QB2 advances from SMM/SC 326 41
Interest and finance charges paid (400) (363)
Issuance of Class B subordinate voting shares 50 1
Purchase and cancellation of Class B subordinate voting shares 0 (207)
Dividends paid (106) (106)
Contributions from non-controlling interests 113 2
Distributions to non-controlling interests (57) (9)
Other liabilities 120 0
Net cash used in financing activities 1,056 1,528
Effect of exchange rate changes on cash and cash equivalents 2 5
Net increase (decrease) in cash and cash equivalents 977 (576)
Cash and cash equivalents at beginning of year 450 1,026
Cash and cash equivalents at end of year $ 1,427 $ 450