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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Earnings/(loss) $ (1,364) $ 2,023
Adjustments to reconcile earnings to net cash provided by operating activities:    
Depreciation and amortization 882 840
Deferred income tax (recovery)/expense (713) 435
Changes in unrealized (gain)/loss on derivative instruments, net 1,556 (538)
Earnings from equity investments (163) (413)
Distributions from equity investments 428 466
Impairment of equity investments 1,736 0
Other 253 30
Changes in operating assets and liabilities 194 (667)
Net cash provided by operating activities 2,809 2,176
Investing activities    
Capital expenditures (1,147) (1,612)
Long-term investments and restricted long-term investments (87) (565)
Distributions from equity investments in excess of cumulative earnings 77 139
Additions to intangible assets (69) (26)
Affiliate loans, net (44) (84)
Net cash (used in)/provided by investing activities (1,270) (2,148)
Financing activities    
Net change in short-term borrowings (63) (154)
Net change in commercial paper and credit facility draws 1,159 2,773
Debenture and term note issues, net of issue costs 990 1,195
Debenture and term note repayments (1,657) (1,789)
Contributions from noncontrolling interests 15 3
Distributions to noncontrolling interests (76) (46)
Common shares issued 1 18
Preference share dividends (96) (90)
Common share dividends (1,641) (1,486)
Redemption of preferred shares held by subsidiary 0 (300)
Other (18) (25)
Net cash provided by/(used in) financing activities (1,386) 99
Effect of translation of foreign denominated cash and cash equivalents and restricted cash 11 (7)
Net increase/(decrease) in cash and cash equivalents and restricted cash 164 120
Cash and cash equivalents and restricted cash at beginning of period 676 637
Cash and cash equivalents and restricted cash at end of period $ 840 $ 757