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Consolidated Statements of Cash Flows - CAD
CAD in Millions
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating activities    
Net income CAD 2,262 CAD 3,133
Adjustments:    
Increase in insurance contract liabilities 20,023 18,014
Increase in investment contract liabilities 173  
(Increase) decrease in reinsurance assets 2,269 (842)
Amortization of (premium) discount on invested assets 230 78
Other amortization 560 693
Net realized and unrealized (gains) losses and impairment on assets (7,188) (2,804)
Deferred income tax recovery (331) (235)
Stock option expense 15 19
Cash provided by (used in) operating activities before undernoted items 18,013 18,056
Changes in policy related and operating receivables and payables (222) (1,039)
Cash provided by (used in) operating activities 17,791 17,017
Investing activities    
Purchases and mortgage advances (87,224) (104,059)
Disposals and repayments 70,720 82,001
Change in investment broker net receivables and payables 227 (186)
Net cash decrease from sale and purchase of subsidiaries and businesses (10) (495)
Cash provided by (used in) investing activities (16,287) (22,739)
Financing activities    
Decrease in repurchase agreements and securities sold but not yet purchased (29) (23)
Issue of long-term debt, net (note 11)   3,899
Redemption of long-term debt (note 11) (607) (158)
Issue of capital instruments, net (note 12) 2,209 479
Redemption of capital instruments (note 12) (899) (949)
Secured borrowing from securitization transactions 741 847
Changes in deposits from Bank clients, net 261 (157)
Shareholders' dividends paid in cash (1,780) (1,593)
Contributions from (distributions to) non-controlling interests, net (6) 10
Common shares issued, net (note 13) 124 66
Preferred shares issued, net (note 13)   884
Cash provided by (used in) financing activities 14 3,305
Cash and short-term securities    
Increase (decrease) during the year 1,518 (2,417)
Effect of foreign exchange rate changes on cash and short-term securities (658) (347)
Balance, beginning of year 14,238 17,002
Balance, December 31 15,098 14,238
Cash and short-term securities    
Gross cash and short-term securities, beginning of year 15,151 17,885
Net payments in transit, included in other liabilities, beginning of year (913) (883)
Balance, beginning of year 14,238 17,002
Gross cash and short-term securities, end of year 15,965 15,151
Net payments in transit, included in other liabilities, end of year (867) (913)
Balance, December 31 15,098 14,238
Supplemental disclosures on cash flow information    
Interest received 10,596 10,550
Interest paid 1,118 983
Income taxes paid CAD 1,360 CAD 841