accounting policy developments (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| accounting policy developments |
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| Schedule of the impacts of application of IFRS 16 on the Consolidated statements of income and other comprehensive income |
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Three months
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Six months
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Excluding
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Excluding
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effects of
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IFRS 16
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As currently
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effects of
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IFRS 16
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As currently
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Periods ended June 30, 2019 (millions except per share amounts)
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IFRS 16
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effects
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reported
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IFRS 16
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effects
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reported
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Operating revenues
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$
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3,596
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$
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1
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$
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3,597
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$
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7,102
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$
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1
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$
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7,103
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Operating expenses
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Goods and services purchased
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1,532
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(66)
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1,466
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3,036
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(149)
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2,887
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Employee benefits expense
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758
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—
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758
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1,464
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—
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1,464
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Depreciation
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424
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46
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470
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846
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94
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940
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Amortization of intangible assets
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163
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—
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163
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310
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—
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310
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2,877
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(20)
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2,857
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5,656
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(55)
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5,601
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Operating income
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719
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21
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740
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1,446
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56
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1,502
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Financing costs
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173
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16
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189
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326
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31
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357
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Income before income taxes
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546
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5
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551
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1,120
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25
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1,145
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Income taxes
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29
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2
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31
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181
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7
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188
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Net income
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517
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3
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520
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939
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18
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957
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Other comprehensive income
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Cumulative foreign currency translation adjustment
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12
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(1)
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11
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13
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4
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17
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Other
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18
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—
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18
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(7)
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—
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(7)
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30
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(1)
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29
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6
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4
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10
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Comprehensive income
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$
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547
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$
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2
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$
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549
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$
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945
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$
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22
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$
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967
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Net income attributable to:
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Common Shares
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$
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513
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$
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4
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$
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517
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$
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926
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$
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19
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$
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945
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Non-controlling interests
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4
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(1)
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3
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13
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(1)
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12
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$
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517
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$
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3
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$
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520
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$
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939
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$
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18
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$
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957
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Comprehensive income attributable to:
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Common Shares
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$
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540
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$
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3
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$
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543
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$
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928
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$
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21
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$
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949
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Non-controlling interests
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7
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(1)
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6
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17
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1
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18
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$
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547
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$
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2
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$
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549
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$
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945
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$
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22
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$
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967
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Net income per Common Share
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Basic
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$
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0.85
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$
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0.01
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$
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0.86
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$
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1.54
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$
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0.03
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$
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1.57
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Diluted
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$
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0.85
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$
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0.01
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$
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0.86
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$
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1.54
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$
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0.03
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$
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1.57
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| Schedule of the impact of the application of IFRS 16 on the Consolidated statements of financial position |
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Excluding
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effects of
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IFRS 16
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As currently
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As at January 1, 2019 (millions)
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Note
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IFRS 16
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effects
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reported
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Current assets
|
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Prepaid expense
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$
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539
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$
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12
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$
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551
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Non-current assets
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Property, plant and equipment, net
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17
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$
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12,091
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$
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1,041
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$
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13,132
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Current liabilities
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Accounts payable and accrued liabilities
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$
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2,570
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$
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(6)
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$
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2,564
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Provisions
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$
|
129
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$
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(9)
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$
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120
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Current maturities of long-term debt
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$
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836
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$
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180
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$
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1,016
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Non-current liabilities
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|
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Provisions
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25
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$
|
728
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$
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(48)
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$
|
680
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Long-term debt
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$
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13,265
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$
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1,201
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$
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14,466
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Other long-term liabilities
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$
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731
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$
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(50)
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$
|
681
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Deferred income taxes
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$
|
3,148
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$
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(53)
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$
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3,095
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Owners’ equity
|
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|
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Retained earnings
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$
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4,474
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$
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(153)
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$
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4,321
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Accumulated other comprehensive income – cumulative foreign currency translation adjustment
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|
11
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$
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12
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$
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(1)
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$
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11
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Non-controlling interests
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$
|
82
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$
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(8)
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$
|
74
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| Schedule of the impact of application of IFRS 16 on Consolidated statements of cash flows |
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|
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|
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Three months
|
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Six months
|
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|
|
Excluding
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|
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|
|
Excluding
|
|
|
|
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|
|
|
|
|
effects of
|
|
IFRS 16
|
|
As currently
|
|
effects of
|
|
IFRS 16
|
|
As currently
|
|
Periods ended June 30, 2019 (millions)
|
|
IFRS 16
|
|
effects
|
|
reported
|
|
IFRS 16
|
|
effects
|
|
reported
|
|
OPERATING ACTIVITIES
|
|
|
|
|
|
|
|
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Net income
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$
|
517
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|
$
|
3
|
|
$
|
520
|
|
$
|
939
|
|
$
|
18
|
|
$
|
957
|
|
Adjustments to reconcile net income to cash provided by operating activities:
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|
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|
|
|
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Depreciation and amortization
|
|
|
587
|
|
|
46
|
|
|
633
|
|
|
1,156
|
|
|
94
|
|
|
1,250
|
|
Deferred income taxes
|
|
|
(41)
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|
|
2
|
|
|
(39)
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|
|
(15)
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|
7
|
|
|
(8)
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|
All other operating activity line items
|
|
|
45
|
|
|
1
|
|
|
46
|
|
|
(257)
|
|
|
8
|
|
|
(249)
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|
Cash provided by operating activities
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|
|
1,108
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|
|
52
|
|
|
1,160
|
|
|
1,823
|
|
|
127
|
|
|
1,950
|
|
INVESTING ACTIVITIES
|
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|
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Cash used by investing activities
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(1,600)
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|
|
—
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|
|
(1,600)
|
|
|
(2,562)
|
|
|
—
|
|
|
(2,562)
|
|
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Redemptions and repayment of long-term debt
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(1,565)
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(52)
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(1,617)
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|
|
(2,407)
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|
|
(127)
|
|
|
(2,534)
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|
All other financing activity line items
|
|
|
1,686
|
|
|
—
|
|
|
1,686
|
|
|
2,949
|
|
|
—
|
|
|
2,949
|
|
Cash provided (used) by financing activities
|
|
|
121
|
|
|
(52)
|
|
|
69
|
|
|
542
|
|
|
(127)
|
|
|
415
|
|
CASH POSITION
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and temporary investments, net
|
|
$
|
(371)
|
|
$
|
—
|
|
$
|
(371)
|
|
$
|
(197)
|
|
$
|
—
|
|
$
|
(197)
|
|
SUPPLEMENTAL DISCLOSURE OF OPERATING CASH FLOWS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest paid
|
|
$
|
(131)
|
|
$
|
(16)
|
|
$
|
(147)
|
|
$
|
(295)
|
|
$
|
(31)
|
|
$
|
(326)
|
|