CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Millions		6 Months Ended
		Jun. 30, 2025	Jun. 30, 2024
Operating activities
Earnings		$ 4,811	$ 3,566
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization		2,799	2,466
Deferred income tax expense		791	613
Unrealized derivative fair value loss/(gain), net (Note 9)		(1,375)	923
Income from equity investments		(1,239)	(1,185)
Distributions from equity investments		1,059	1,037
Impairment of long-lived assets		330	0
Gain on disposition of equity investments		0	(1,091)
Other		(44)	143
Changes in operating assets and liabilities		(841)	(507)
Net cash provided by operating activities		6,291	5,965
Investing activities
Capital expenditures		(3,623)	(2,533)
Long-term, restricted and other investments		(1,380)	(1,294)
Distributions from equity investments in excess of cumulative earnings		384	463
Additions to intangible assets		(124)	(93)
Acquisitions		0	(10,454)
Proceeds from disposition of equity investments		130	2,724
Other		(35)	(43)
Net cash used in investing activities		(4,648)	(11,230)
Financing activities
Net change in short-term borrowings		385	(200)
Net change in commercial paper and credit facility draws		(497)	2,963
Debenture and term note issues, net of issue costs		6,530	6,348
Debenture and term note repayments		(4,079)	(4,561)
Contributions from noncontrolling interests		7	2
Distributions to noncontrolling interests		(195)	(167)
Common shares issued, net of issue costs		6	2,485
Preference share dividends		(206)	(188)
Common share dividends		(4,109)	(3,890)
Net change in affiliate loans		25	15
Other		(33)	(20)
Net cash (used in)/provided by financing activities		(2,166)	2,787
Effect of translation of foreign denominated cash and cash equivalents and restricted cash		(55)	192
Net change in cash and cash equivalents and restricted cash		(578)	(2,286)
Cash and cash equivalents and restricted cash at beginning of period	[1]	2,000	5,985
Cash and cash equivalents and restricted cash at end of period	[1]	$ 1,422	$ 3,699

[1] As at June 30, 2025 and December 31, 2024, long-term restricted cash of $136 million (June 30, 2024 - $96 million) and $105 million (December 31, 2023 - nil), respectively, was included in Restricted long-term investments and cash in the Consolidated Statements of Financial Position.