Consolidated Financial Statements (unaudited)
Condensed Consolidated Statement of Cash Flows
For the Three Months Ended June 30,
(millions)
Notes
2025
2024
OPERATING ACTIVITIES Net income (loss)
$
5
$
(10)
Add 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
10 10
6
3 1
-
Depreciation and amortization
35 20 66
34 19 47 32 79
Net finance expenses
14
Net change in non-cash working capital related to operations
(15)
Cash provided by operating activities
51
INVESTING ACTIVITIES Additions to intangible assets
(3)
(2)
Additions to property, plant and equipment
(63)
(32)
Decommissioning costs
(1)
(2)
Cash used in investing activities
(67)
(36)
FINANCING ACTIVITIES Debt retirement funds redemptions Debt retirement funds installments Net proceeds from short-term debt Net repayment of short-term debt
44
10
(11)
(10)
30
-
-
(70)
Proceeds from long-term debt Repayment of long-term debt
8 8 7
74
145
(75)
(100)
Repayment of principal on lease liability
(1)
(1)
Interest paid Dividends paid
(29) (16)
(29)
(6)
Cash provided by (used in) financing activities
16
(61)
DECREASE IN CASH AND CASH EQUIVALENTS
$
-
$
(18)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
$
2
$
20
CASH AND CASH EQUIVALENTS, END OF PERIOD
$
2
$
2
The accompanying notes are an integral part of the condensed consolidated financial statements
16
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