SaskEnergy Second Quarter Report - September 30, 2021

Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited)

For the Six Months Ended September 30,

(millions)

Notes

2021

2020

OPERATING ACTIVITIES Net income

$

27

$

12

Add (deduct) items not requiring an outlay of cash Net change in fair value of derivative instrument assets and liabilities Change in revaluation of natural gas in storage to net realizable value

(52)

12 12

(24)

-

(6)

61 29

Depreciation and amortization

57 27

Net finance expenses

16

(1) (1)

Net gain on disposal of assets

(2) (1)

Other non-cash items

63 39

63 18 81

Net change in non-cash working capital related to operations

102

Cash provided by operating activities

INVESTING ACTIVITIES Additions to intangible assets

(2)

(5)

(120)

Additions to property, plant and equipment

(97)

4

Net proceeds on disposal of assets

1

(4)

Decommissioning costs

(2)

(122)

Cash used in investing activities

(103)

FINANCING ACTIVITIES Debt retirement funds redemptions Debt retirement funds installments

-

12

(11)

(9)

23

Proceeds from short-term debt Repayment of short-term debt Proceeds from long-term debt Repayment of long-term debt

-

-

(67)

50

10

160

-

(34)

(3)

Repayment of principal on lease liability

9

(3)

(29) (11)

Interest paid Dividends paid

(29)

(4)

19

Cash provided by financing activities

26

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

$

(1)

$

4

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

-

1

CASH AND CASH EQUIVALENTS, END OF PERIOD

$

(1)

$

5

The accompanying notes are an integral part of the condensed consolidated financial statements

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