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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Earnings $ 6,314 $ 3,416 $ 5,827
Adjustments to reconcile earnings to net cash provided by operating activities:      
Depreciation and amortization 3,852 3,712 3,391
Deferred income tax expense (Note 25) 1,091 447 1,156
Unrealized derivative fair value gain, net (Note 24) (173) (756) (1,751)
Income from equity investments (1,711) (1,136) (1,503)
Distributions from equity investments 1,630 1,392 1,804
Impairment of long-lived assets 0 0 423
Impairment of equity investments 111 2,351 0
(Gain)/loss on dispositions (319) (6) 254
Other 77 268 56
Changes in operating assets and liabilities (Note 28) (1,616) 93 (259)
Net cash provided by operating activities 9,256 9,781 9,398
Investing activities      
Capital expenditures (7,818) (5,405) (5,492)
Long-term investments and restricted long-term investments (640) (487) (1,159)
Distributions from equity investments in excess of cumulative earnings 533 705 417
Additions to intangible assets (275) (215) (200)
Acquisitions (3,785) (24) 0
Proceeds from dispositions 1,263 265 2,110
Affiliate loans, net 65 (16) (314)
Other 0 0 (20)
Net cash used in investing activities (10,657) (5,177) (4,658)
Financing activities      
Net change in short-term borrowings 394 223 (127)
Net change in commercial paper and credit facility draws 2,960 1,542 825
Debenture and term note issues, net of issue costs 8,032 5,230 6,176
Debenture and term note repayments (2,264) (4,463) (4,668)
Contributions from noncontrolling interests 15 23 12
Distributions to noncontrolling interests (271) (300) (254)
Common shares issued 5 5 18
Preference share dividends (367) (380) (383)
Common share dividends (6,766) (6,560) (5,973)
Redemption of preferred shares held by subsidiary (Note 20) (415) 0 (300)
Other (87) (90) (71)
Net cash provided by/(used in) financing activities 1,236 (4,770) (4,745)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash (5) (20) 44
Net increase/(decrease) in cash and cash equivalents and restricted cash (170) (186) 39
Cash and cash equivalents and restricted cash at beginning of year 490 676 637
Cash and cash equivalents and restricted cash at end of year 320 490 676
Supplementary cash flow information      
Cash paid for income taxes 489 524 571
Cash paid for interest, net of amount capitalized 2,427 2,538 2,738
Property, plant and equipment non-cash accruals $ 831 $ 801 $ 730