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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income $ 361.5 $ 316.5 [1]
Add (deduct) items not affecting cash:    
Amortization of intangible assets 123.8 102.0
Net impairment of lease assets and property and equipment 34.9 0.3
Deferred income taxes (42.4) (50.4) [1]
Share-based compensation 43.0 60.1
Provisions 65.3 27.7
Other non-cash items (1.6) (5.5)
Cash flows from (used in) operations before changes in working capital 779.3 632.3
Trade and other receivables (123.7) (26.5)
Unbilled receivables (44.3) (71.1)
Contract assets (27.2) (4.9)
Prepaid expenses 3.4 (4.8)
Income taxes net recoverable 27.7 (17.6)
Trade and other payables and other accruals (59.6) (59.6) [1]
Deferred revenue 47.5 72.2
Increase (decrease) in working capital (176.2) (112.3)
Net cash flows from operating activities 603.1 520.0 [1]
INVESTING ACTIVITIES    
Business acquisitions, net of cash acquired (555.0) (75.6)
Purchase of investments held for self-insured liabilities (40.0) (110.4)
Proceeds from sale of investments held for self-insured liabilities 73.8 72.8
Purchase of property and equipment and intangible assets (99.0) (100.6)
Other 15.2 12.1
Net cash flows used in investing activities (605.0) (201.7)
FINANCING ACTIVITIES    
Net proceeds from issue of senior unsecured notes and bilateral term credit facility 0.0 348.8
Net proceeds from (repayment of) revolving credit facility 175.0 (455.2)
Repayment of notes payable and other financing obligations (101.1) (27.7) [1]
Net repayment of bank indebtedness (7.9) (42.4)
Net lease payments (124.1) (125.0)
Proceeds from issue of share capital, net of transaction costs 0.0 277.8
Payment of dividends to shareholders (94.0) (84.9)
Other 0.0 (0.7)
Net cash flows used in financing activities (152.1) (109.3) [1]
Foreign exchange gain (loss) on cash held in foreign currency 29.6 (4.4)
Net (decrease) increase in cash and cash equivalents (124.4) 204.6
Cash and cash equivalents, beginning of the year 352.9 148.3
Cash and cash equivalents, end of the year 228.5 352.9
Property, plant and equipment    
Add (deduct) items not affecting cash:    
Depreciation 67.7 59.9
Right-of-use assets    
Add (deduct) items not affecting cash:    
Depreciation $ 127.1 $ 121.7
[1] Revised for change in accounting policy (see Note 6.c)