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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Earnings/(loss) $ 2,014 $ (1,364)
Adjustments to reconcile earnings/(loss) to net cash provided by operating activities:    
Depreciation and amortization 932 882
Deferred income tax expense/(recovery) 369 (713)
Changes in unrealized (gain)/loss on derivative instruments, net (Note 9) (315) 1,556
Income from equity investments (395) (163)
Distributions from equity investments 388 428
Impairment of equity investments (Note 8) 0 1,736
Gain on disposition (41) 0
Other 30 253
Changes in operating assets and liabilities (418) 194
Net cash provided by operating activities 2,564 2,809
Investing activities    
Capital expenditures (2,059) (1,147)
Long-term investments and restricted long-term investments (61) (87)
Distributions from equity investments in excess of cumulative earnings 61 77
Additions to intangible assets (65) (69)
Proceeds from disposition 122 0
Affiliate loans, net 44 (44)
Net cash used in investing activities (1,958) (1,270)
Financing activities    
Net change in short-term borrowings (27) (63)
Net change in commercial paper and credit facility draws 1,727 1,159
Debenture and term note issues, net of issue costs 629 990
Debenture and term note repayments (912) (1,657)
Contributions from noncontrolling interests 3 15
Distributions to noncontrolling interests (66) (76)
Common shares issued 0 1
Preference share dividends (92) (96)
Common share dividends (1,691) (1,641)
Redemption of preferred shares held by subsidiary (115) 0
Other (21) (18)
Net cash used in financing activities (565) (1,386)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash (7) 11
Net increase in cash and cash equivalents and restricted cash 34 164
Cash and cash equivalents and restricted cash at beginning of period 490 676
Cash and cash equivalents and restricted cash at end of period $ 524 $ 840