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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Profit for the year from continuing operations $ 4,070 $ 3,170
Depreciation and amortization 1,674 1,487
Provision for income taxes 2,495 1,518
Impairment reversal 0 (215)
Loss on debt redemption or purchase 58 0
Net finance expense 150 185
Income taxes paid (1,217) (849)
Remeasurement of decommissioning and restoration provisions for closed operations 83 35
QB2 variable consideration to IMSA and ENAMI 188 141
Other 147 185
Net change in non-cash working capital items (107) (884)
Net cash provided by continuing operating activities 7,541 4,773
Net cash provided by (used in) discontinued operating activities 442 (35)
Net cash from operating activities 7,983 4,738
Investing activities    
Expenditures on property, plant and equipment (4,423) (3,966)
Capitalized production stripping costs (1,042) (667)
Expenditures on investments and other assets (199) (160)
Proceeds from investments and assets 113 54
Net cash used in continuing investing activities (5,551) (4,739)
Net cash used in discontinued investing activities (129) (80)
Net cash used in investing activities (5,680) (4,819)
Financing activities    
Proceeds from debt 569 1,639
Revolving credit facilities 0 (335)
Redemption, purchase or repayment of debt (1,323) (155)
Repayment of lease liabilities (138) (130)
QB2 advances from SMM/SC 899 326
Interest and finance charges paid (459) (380)
Issuance of Class B subordinate voting shares 234 50
Purchase and cancellation of Class B subordinate voting shares (1,392) 0
Dividends paid (532) (106)
Contributions from non-controlling interests 307 113
Distributions to non-controlling interests (78) (57)
Other liabilities (46) 120
Net cash provided by (used in) continuing financing activities (1,959) 1,085
Net cash used in discontinued financing activities (31) (29)
Net cash used in financing activities (1,990) 1,056
Increase in cash and cash equivalents 313 975
Cash balance related to assets held for sale (35) 0
Effect of exchange rate changes on cash and cash equivalents 178 2
Cash and cash equivalents at beginning of year 1,427 450
Cash and cash equivalents at end of year $ 1,883 $ 1,427