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Consolidated statement of cash flows (U.S. GAAP, unaudited) - CAD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating activities        
Net income (loss) $ 539 $ 1,237 $ 2,776 $ 3,565
Adjustments for non-cash items:        
Depreciation and depletion 911 508 1,920 1,454
(Gain) loss on asset sales (note 3) 22 (2) 11 (5)
Deferred income taxes and other (200) 53 (231) (186)
Changes in operating assets and liabilities:        
Accounts receivable 444 548 600 (1,040)
Inventories, materials, supplies and prepaid expenses (266) 502 (319) 552
Income taxes payable 18 (47) (63) (208)
Accounts payable and accrued liabilities 2 (1,313) (201) 62
All other items - net [1] 328 1 297 (2)
Cash flows from (used in) operating activities 1,798 1,487 4,790 4,192
Investing activities        
Additions to property, plant and equipment (504) (486) (1,373) (1,444)
Proceeds from asset sales (note 3) 21 0 34 7
Additional investments 0 0 (4) 0
Loans to equity companies - net 1 2 12 16
Cash flows from (used in) investing activities (482) (484) (1,331) (1,421)
Financing activities        
Finance lease obligations - reduction (note 6) (6) (5) (14) (18)
Dividends paid (366) (322) (1,040) (921)
Common shares purchased (b) (note 9) [2] (1,469) (1,206) (1,523) (1,206)
Cash flows from (used in) financing activities (1,841) (1,533) (2,577) (2,145)
Increase (decrease) in cash and cash equivalents (525) (530) 882 626
Cash and cash equivalents at beginning of period 2,386 2,020 979 864
Cash and cash equivalents at end of period [3] $ 1,861 $ 1,490 $ 1,861 $ 1,490
[1]
(c) Includes contributions to registered pension plans.(37)(37)(111)(112)
[2] (b) Includes 2 percent tax paid on repurchases of equity.
[3] (a) Cash equivalents are all highly liquid securities with maturity of three months or less.