v3.26.1
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating activities        
Net income $ 1,024 $ 1,234 $ 1,869 $ 2,143
Reconciliation of net income to net cash provided by operating activities:        
Depreciation and amortization 519 493 1,031 997
Deferred income tax expense 54 9 69 35
Pension recovery and funding (Note 12) (96) (95) (195) (190)
Gain on sale of equity investment (Note 4) 0 (333) 0 (333)
Settlement of Mexican taxes 0 (1) 0 (12)
Other operating activities, net 105 39 93 28
Changes in non-cash working capital balances related to operations 120 9 (165) (157)
Net cash provided by operating activities 1,726 1,355 2,702 2,511
Investing activities        
Additions to properties (758) (743) (1,422) (1,454)
Additions to Meridian Speedway properties (8) (12) (13) (24)
Proceeds from sale of properties and other assets 4 4 12 15
Proceeds from sale of equity investment (Note 4) 0 493 0 493
Other investing activities, net 0 (48) (11) (51)
Net cash used in investing activities (762) (306) (1,434) (1,021)
Financing activities        
Dividends paid (204) (210) (408) (387)
Issuance of Common Shares 30 30 55 38
Purchase of Common Shares (Note 11) (1,283) (1,393) (1,963) (1,740)
Repayment of long-term debt, excluding commercial paper (Note 9) (352) (5) (697) (940)
Issuance of long-term debt, excluding commercial paper (Note 9) 0 1,392 1,621 3,102
Net issuance (repayment) of commercial paper (Note 9) 778 (722) 284 (1,175)
Net issuance (repayment) of short-term borrowings (Note 9) 0 8 0 (277)
Other financing activities, net 0 (1) (4) (6)
Net cash used in financing activities (1,031) (901) (1,112) (1,385)
Effect of foreign currency fluctuations on foreign-denominated cash and cash equivalents 24 (44) 26 (45)
Cash position        
Net (decrease) increase in cash and cash equivalents (43) 104 182 60
Cash and cash equivalents at beginning of period 409 695 184 739
Cash and cash equivalents at end of period 366 799 366 799
Supplemental cash flow information        
Income taxes paid 286 409 577 646
Interest paid $ 247 $ 234 $ 450 $ 414