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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD
CAD in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Earnings/(loss) CAD 2,309 CAD (159) CAD 1,608
Earnings from discontinued operations     (46)
Depreciation and amortization 2,240 2,024 1,577
Deferred income taxes (Note 25) 43 7 587
Changes in unrealized (gains)/loss on derivative instruments, net (509) 2,373 (96)
Cash distributions in excess of equity earnings 171 244 196
Impairment 1,620 536 18
Gains on dispositions (Note 27) (848) (94) (38)
Hedge ineffectiveness 61 (20) 210
Inventory revaluation allowance 245 410 174
Unrealized (gains)/loss on intercompany loan 43 (131) (16)
Other 198 69 131
Changes in environmental liabilities, net of recoveries (4) (43) (78)
Changes in operating assets and liabilities (Note 29) (358) (645) (1,699)
Cash provided by continuing operations 5,211 4,571 2,528
Cash provided by discontinued operations     19
Net operating activities 5,211 4,571 2,547
Investing activities      
Additions to property, plant and equipment (5,128) (7,273) (10,524)
Joint venture financing (1)    
Long-term investments (467) (622) (854)
Restricted long-term investments (46) (49)  
Additions to intangible assets (127) (101) (208)
Acquisitions (644) (106) (394)
Proceeds from dispositions 1,379 146 85
Affiliate loans, net (118) 59 13
Changes in restricted cash (40) 13 (13)
Cash used in continuing operations (5,192) (7,933) (11,895)
Cash provided by discontinued operations     4
Net investing activities (5,192) (7,933) (11,891)
Financing activities      
Net change in bank indebtedness and short-term borrowings 14 (588) 734
Net change in commercial paper and credit facility draws (2,297) 1,507 4,212
Southern Lights project financing repayments     (1,519)
Debenture and term note issues - Southern Lights     1,507
Debenture and term note issues 4,080 3,767 5,414
Debenture and term note repayments (1,946) (1,023) (1,348)
Contributions from noncontrolling interests 28 615 212
Distributions to noncontrolling interests (720) (680) (535)
Contributions from redeemable noncontrolling interests 591 670 323
Distributions to redeemable noncontrolling interests (202) (114) (79)
Preference shares issued 737   1,365
Common shares issued 2,260 57 478
Preference share dividends (293) (288) (245)
Common share dividends (1,150) (950) (749)
Net financing activities 1,102 2,973 9,770
Effect of translation of foreign denominated cash and cash equivalents (19) 143 59
Increase/(decrease) in cash and cash equivalents 1,102 (246) 485
Cash and cash equivalents at beginning of year - continuing operations 1,015 1,261 756
Cash and cash equivalents at beginning of year - discontinued operations     20
Cash and cash equivalents at end of year 2,117 1,015 1,261
Cash and cash equivalents - continuing operations 2,117 1,015 1,261
Supplementary cash flow information      
Income taxes paid 194 80 9
Interest paid CAD 1,820 CAD 1,835 CAD 1,435