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Consolidated Statement of Cash Flows - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net earnings (loss) $ 796 $ 161 $ (425)
Depreciation and amortization 621 599 719
Gain on sale of assets and other (3) (32) (54)
Accretion of provisions 48 49 32
Decommissioning and restoration costs settled (37) (35) (18)
Deferred income tax expense (recovery) 34 127 (11)
Unrealized loss (gain) from risk management activities (36) 385 (34)
Unrealized foreign exchange gain (9) (82) (24)
Provisions and contract liabilities (1) 19 (41)
Asset impairment charges (48) 9 648
Equity income, net of distributions from investments 2 (4) (5)
Other non-cash items (27) (3) 40
Cash flow from operations before changes in working capital 1,340 1,193 827
Change in non-cash operating working capital 124 (316) 174
Cash flow from operating activities 1,464 877 1,001
Investing activities      
Additions to property, plant and equipment (875) (918) (480)
Additions to intangibles assets (13) (31) (9)
Restricted cash 1 0 (1)
Repayments (advances) in loan receivable 11 18  
Repayments (advances) in Loan receivable     (3)
Acquisitions, net of cash acquired 0 (10) (120)
Investments (13) (10) 0
Proceeds on sale of Pioneer Pipeline 0 0 128
Proceeds on sale of property, plant and equipment 29 66 39
Realized gain (loss) on financial instruments 18 27 (6)
Decrease in finance lease receivable 55 46 41
Other (25) 45 (16)
Change in non-cash investing working capital balances (2) 26 (45)
Cash flow used in investing activities (814) (741) (472)
Financing activities      
Net increase (decrease) in borrowings under credit facilities (46) 449 (114)
Repayment of long-term debt (164) (621) (92)
Issuance of long-term debt 39 532 173
Repurchase of common shares under NCIB (87) (52) (4)
Proceeds on issuance of common shares 5 3 8
Realized gain (loss) on financial instruments (30) 42 3
Acquisition of TransAlta Renewables (811) 0 0
Distributions paid to subsidiaries' non-controlling interests (223) (187) (156)
Decrease in lease liabilities (10) (9) (8)
Financing fees and other 1 (13) (4)
Change in non-cash financing working capital balances 3 (2) (1)
Cash flow from (used in) financing activities (1,432) 45 (282)
Cash flow from (used in) operating, investing and financing activities (782) 181 247
Effect of translation on foreign currency cash (4) 6 (3)
Increase (decrease) in cash and cash equivalents (786) 187 244
Cash and cash equivalents, beginning of year 348 1,134 947
Cash and cash equivalents, end of year 348 1,134 947
Supplemental cash flow information      
Cash taxes paid 94 67 57
Cash interest paid 277 229 220
Cash interest received 54 20 7
Common shares      
Financing activities      
Dividends paid (58) (54) (48)
Preferred shares      
Financing activities      
Dividends paid $ (51) $ (43) $ (39)