CONSOLIDATED STATEMENT OF CASH FLOWS For the periods ended
12 Months
15 Months
Ended March
Ended March
Notes
31, 2017
31, 2016
(millions)
OPERATING ACTIVITIES Net income
$ 111
$ 146
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
17 17
11 11
(63) (13)
Depreciation and amortization
110
96 46 36
Net finance expenses
20
58
Other losses on disposal and impairment of assets Employee future benefits paid in excess of expense
7
(2)
(1)
306
247
Net change in non-cash working capital related to operations
41
(22)
Cash provided by operating activities
347
225
INVESTING ACTIVITIES
Additions to intangible assets
(15)
(12)
Additions to property, plant and equipment
(225)
(183)
Proceeds on disposal of assets
2
1
Decommissioning costs
(3)
(4)
Cash used in investing activities
(241)
(198)
FINANCING ACTIVITIES
Debt retirement funds redemptions Debt retirement funds installments Decrease in short-term debt Proceeds of long-term debt Repayment of long-term debt
7 7
7
12
(12)
(9) (6)
–
13 13
62
149
(50) (60) (47)
(100)
Interest paid Dividends paid
(47) (36) (37)
Cash used in financing activities
(100)
6
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(10)
5
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
11
$ 11
CASH AND CASH EQUIVALENTS, END OF PERIOD
$
1
(See accompanying notes)
48
Consolidated Financial Statements
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