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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Earnings $ 413 $ 3,853
Adjustments to reconcile earnings to net cash provided by operating activities:    
Depreciation and amortization 1,831 1,682
Deferred income tax (recovery)/expense (223) 809
Changes in unrealized (gain)/loss on derivative instruments, net 824 (1,112)
Earnings from equity investments (490) (826)
Distributions from equity investments 821 907
Impairment of equity investments 1,736 0
Other 210 36
Changes in operating assets and liabilities 103 (679)
Net cash provided by operating activities 5,225 4,670
Investing activities    
Capital expenditures (2,352) (2,785)
Long-term investments and restricted long-term investments (335) (700)
Distributions from equity investments in excess of cumulative earnings 253 268
Additions to intangible assets (104) (100)
Proceeds from dispositions 245 0
Proceeds from Collection of (Payments to Fund) Long-term Loans to Related Parties 27 (140)
Net cash (used in)/provided by investing activities (2,266) (3,457)
Financing activities    
Net change in short-term borrowings (543) (108)
Net change in commercial paper and credit facility draws 854 4,015
Debenture and term note issues, net of issue costs 3,479 1,195
Debenture and term note repayments (3,268) (2,584)
Contributions from noncontrolling interests 20 9
Distributions to noncontrolling interests (164) (100)
Common shares issued 3 18
Preference share dividends (190) (191)
Common share dividends (3,280) (2,976)
Redemption of preferred shares held by subsidiary 0 (300)
Other (35) (36)
Net cash provided by/(used in) financing activities (3,124) (1,058)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash (14) (25)
Net increase/(decrease) in cash and cash equivalents and restricted cash (179) 130
Cash and cash equivalents and restricted cash at beginning of period 676 637
Cash and cash equivalents and restricted cash at end of period $ 497 $ 767