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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD
CAD in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating activities        
Earnings CAD 423 CAD 833 CAD 202 CAD 1,326
Earnings from discontinued operations       (46)
Depreciation and amortization 485 393 959 759
Deferred income taxes 183 277 (139) 346
Changes in unrealized (gains)/loss on derivative instruments, net (352) (607) 1,131 (363)
Cash distributions in excess of equity earnings 80 37 126 49
Impairment (Note 6) 456   456  
Gain on disposition (Note 4) (29)   (34) (16)
Hedge ineffectiveness (Note 11) (12) 5 (30) 31
Inventory revaluation allowance 2   45 2
Other 20 1 (86) 35
Changes in regulatory assets and liabilities 21 10 32 15
Changes in environmental liabilities, net of recoveries (10) 10 (20) (36)
Changes in operating assets and liabilities 83 (147) 218 (976)
Cash provided by continuing operations 1,350 812 2,860 1,126
Cash provided by discontinued operations (Note 4)       19
Net operating activities 1,350 812 2,860 1,145
Investing activities        
Additions to property, plant and equipment (1,973) (2,635) (3,563) (5,043)
Long-term investments (37) (212) (179) (525)
Additions to intangible assets (43) (58) (62) (111)
Acquisitions     (106)  
Proceeds from disposition 34   34 19
Affiliate loans, net 3 3 6 6
Changes in restricted cash (9) 16 (21) 21
Cash provided by continuing operations (2,025) (2,886) (3,891) (5,633)
Cash provided by discontinued operations (Note 4)       4
Net investing activities (2,025) (2,886) (3,891) (5,629)
Financing activities        
Net change in bank indebtedness and short-term borrowings (95) 83 (551) 444
Net change in commercial paper and credit facility draws 1,215 377 2,236 1,215
Debenture and term note issues   1,928   3,456
Debenture and term note repayments (19) (425) (395) (625)
Contributions from noncontrolling interests 54 40 579 81
Distributions to noncontrolling interests (166) (130) (324) (260)
Distributions to redeemable noncontrolling interests (26) (19) (53) (37)
Preference shares issued   490   758
Common shares issued 32 390 40 406
Preference share dividends (71) (57) (142) (111)
Common share dividends (238) (187) (479) (372)
Net financing activities 686 2,490 911 4,955
Effect of translation of foreign denominated cash and cash equivalents 7 (17) 68 1
Increase/(decrease) in cash and cash equivalents 18 399 (52) 472
Cash and cash equivalents at beginning of period - discontinued operations       20
Cash and cash equivalents at beginning of period - continuing operations 1,191 849 1,261 756
Cash and cash equivalents at end of period 1,209 1,248 1,209 1,248
Cash and cash equivalents - continuing operations CAD 1,191 CAD 849 CAD 1,261 CAD 756