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Consolidated statement of cash flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Generated from Operations      
Net income $ 785 $ 2,046 $ 4,913
Depreciation and amortization 2,584 2,522 2,590
Goodwill and asset impairment charges and other (Notes 6 and 14) 453 2,775 0
Deferred income taxes (Note 19) 174 (185) (58)
Income from equity investments (Note 11) (1,054) (898) (1,019)
Impairment of equity investment (Notes 7 and 11) 3,048 0 0
Distributions received from operating activities of equity investments (Note 11) 1,025 975 1,123
Employee post-retirement benefits funding, net of expense (Note 27) (29) (5) (19)
Net (gain)/loss on sale of assets (Note 30) 0 (30) 50
Equity allowance for funds used during construction (248) (191) (235)
Unrealized losses/(gains) on financial instruments 135 194 (103)
Expected credit loss provision 163 0 0
Foreign exchange losses on loan receivable from affiliate (Note 12) 28 41 86
Other (50) (67) 57
Increase in operating working capital (Note 29) (639) (287) (327)
Net cash provided by operations 6,375 6,890 7,058
Investing Activities      
Capital expenditures (Note 4) (6,678) (5,924) (8,013)
Capital projects in development (Note 4) (49) 0 (122)
Contributions to equity investments (Notes 4, 7 and 11) (3,433) (1,210) (765)
Keystone XL contractual recoveries (Note 6) 571 0 0
Proceeds from sales of assets, net of transaction costs 0 35 3,407
Loans to affiliate issued, net (Notes 7 and 12) (11) (239) 0
Other distributions from equity investments (Note 11) 2,632 73 0
Deferred amounts and other (41) (447) (559)
Net cash used in investing activities (7,009) (7,712) (6,052)
Financing Activities      
Notes payable issued/(repaid), net 766 1,003 (220)
Long-term debt issued, net of issue costs 2,508 10,730 5,770
Long-term debt repaid (1,338) (7,758) (3,977)
Junior subordinated notes issued, net of issue costs 1,008 495 0
Gain/(loss) on settlement of financial instruments 23 (10) (130)
Redeemable non-controlling interest repurchased (Note 6) 0 (633) 0
Contributions from redeemable non-controlling interest (Note 6) 0 0 1,033
Dividends on common shares (3,192) (3,317) (2,987)
Dividends on preferred shares (106) (141) (159)
Distributions to non-controlling interests (44) (74) (221)
Distributions on Class C Interests (Note 6) (43) (16) 0
Common shares issued, net of issue costs 1,905 148 91
Preferred shares redeemed (Note 25) (1,000) (500) 0
Acquisition of TC PipeLines, LP transaction costs (Note 23) 0 (15) 0
Net cash provided by/(used in) financing activities 487 (88) (800)
Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents 94 53 (19)
(Decrease)/Increase in Cash and Cash Equivalents (53) (857) 187
Cash and Cash Equivalents, Beginning of year 673 1,530 1,343
Cash and Cash Equivalents, End of year $ 620 $ 673 $ 1,530