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Consolidated statements of cash flows

Consolidated statements of cash flows

 

FOR THE YEAR ENDED DECEMBER 31
(IN MILLIONS OF CANADIAN DOLLARS)
NOTE   2016   2015  

Cash flows from operating activities

           

Net earnings

    3,087   2,730  

Adjustments to reconcile net earnings to cash flows from operating activities

           

Severance, acquisition and other costs

6   135   446  

Depreciation and amortization

13, 14   3,508   3,420  

Post-employment benefit plans cost

22   305   391  

Net interest expense

    875   900  

Gains on investments

8   (58 ) (72 )

Income taxes

9   1,110   924  

Contributions to post-employment benefit plans

22   (725 ) (566 )

Payments under other post-employment benefit plans

22   (76 ) (75 )

Severance and other costs paid

    (231 ) (190 )

Interest paid

    (882 ) (911 )

Income taxes paid (net of refunds)

    (565 ) (672 )

Acquisition and other costs paid

    (126 ) (292 )

Net change in operating assets and liabilities

    286   241  

Cash flows from operating activities

    6,643   6,274  

Cash flows used in investing activities

           

Capital expenditures

4   (3,771 ) (3,626 )

Business acquisitions

3   (404 ) (311 )

Business dispositions

3   18   409  

Decrease in investments

    107   11  

Acquisition of spectrum licences

14   (1 ) (535 )

Loan to related party

3   (517 )  

Other investing activities

    (16 ) (62 )

Cash flows used in investing activities

    (4,584 ) (4,114 )

Cash flows used in financing activities

           

Increase in notes payable

    991   76  

Issue of long-term debt

20   2,244   1,498  

Repayment of long-term debt

20   (2,516 ) (2,084 )

Issue of common shares

25   99   952  

Common shares issuance cost

25     (35 )

Repurchase of shares for settlement of share-based payments

26   (106 ) (138 )

Cash dividends paid on common shares

    (2,305 ) (2,169 )

Cash dividends paid on preferred shares

    (126 ) (150 )

Cash dividends paid by subsidiaries to non-controlling interest

    (46 ) (41 )

Other financing activities

    (54 ) (22 )

Cash flows used in financing activities

    (1,819 ) (2,113 )

Net increase (decrease) in cash

    503   (42 )

Cash at beginning of year

    100   142  

Cash at end of year

    603   100  

Net (decrease) increase in cash equivalents

    (263 ) 89  

Cash equivalents at beginning of year

    513   424  

Cash equivalents at end of year

    250   513  
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