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Consolidated Statement of Cash Flows - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net earnings $ 239 $ 796 $ 161
Depreciation and amortization 531 621 599
Gain on sale of assets and other (1) (3) (32)
Accretion of provisions 50 48 49
Decommissioning and restoration costs settled (41) (37) (35)
Deferred income tax (recovery) expense (63) 34 127
Unrealized loss (gain) from risk management activities 2 (36) 385
Unrealized foreign exchange gain (29) (9) (82)
Provisions and contract liabilities 23 (1) 19
Asset impairment charges 46 (48) 9
Equity (loss) income, net of distributions from investments 0 2 (4)
Other non-cash items 1 (27) (3)
Cash flow from operations before changes in working capital 758 1,340 1,193
Change in non-cash operating working capital 38 124 (316)
Cash flow from operating activities 796 1,464 877
Investing activities      
Additions to property, plant and equipment (311) (875) (918)
Additions to intangibles assets (10) (13) (31)
Restricted cash (1) 1 0
(Advances) repayment from loan receivable (1)    
(Advances) Repayments from loan receivable   11 18
Acquisitions, net of cash acquired (217) 0 (10)
Investments (5) (13) (10)
Proceeds on sale of property, plant and equipment 4 29 66
Realized gain on financial instruments 1 18 27
Decrease in finance lease receivable 21 55 46
Other 19 (25) 45
Change in non-cash investing working capital balances (20) (2) 26
Cash flow used in investing activities (520) (814) (741)
Financing activities      
Net increase (decrease) in borrowings under credit facilities 143 (46) 449
Repayment of long-term debt (131) (164) (621)
Issuance of long-term debt 0 39 532
Repurchase of common shares under NCIB (143) (87) (52)
Proceeds on issuance of common shares 12 5 3
Realized gain (loss) on financial instruments 4 (30) 42
Acquisition of TransAlta Renewables 0 (811) 0
Distributions paid to subsidiaries’ non-controlling interests (40) (223) (187)
Decrease in lease liabilities (6) (10) (9)
Financing fees and other (1) 1 (13)
Change in non-cash financing working capital balances (6) 3 (2)
Cash flow (used in) from financing activities (291) (1,432) 45
Cash flow (used in) from operating, investing and financing activities (15) (782) 181
Effect of translation on foreign currency cash 4 (4) 6
(Decrease) increase in cash and cash equivalents (11) (786) 187
Cash and cash equivalents, beginning of year 348 1,134 947
Cash and cash equivalents, end of year 337 348 1,134
Supplemental cash flow information      
Cash taxes paid 104 94 67
Cash interest paid 269 277 229
Cash interest received 30 54 20
Common shares      
Financing activities      
Dividends paid (71) (58) (54)
Preferred shares      
Financing activities      
Dividends paid $ (52) $ (51) $ (43)