| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
2,440 | 1,951 | 2,405 | 1,599 | |||
Reconciliation of net income to cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
706 | 696 | 661 | 640 | |||
Deferred income tax expense | ||||||
181 | 256 | -210 | 320 | |||
Pension recovery and funding | ||||||
-360 | -321 | -237 | -138 | |||
Foreign exchange loss (gain) on debt and lease liabilities | ||||||
-94 | 168 | -186 | - | |||
Foreign exchange loss (gain) on long-term debt | ||||||
- | - | - | 79 | |||
Settlement of forward starting swaps on debt issuance | ||||||
0 | 24 | 0 | 0 | |||
Other operating activities, net | ||||||
143 | -79 | -113 | -198 | |||
Change in non-cash working capital balances related to operations | ||||||
26 | -65 | 138 | 55 | |||
Cash provided by operating activities | ||||||
2,990 | 2,712 | 2,182 | 2,089 | |||
Investing activities | ||||||
Additions to properties | ||||||
1,647 | 1,551 | 1,340 | 1,182 | |||
Investment in Central Maine & Quebec Railway | ||||||
174 | - | - | - | |||
Proceeds from sale of properties and other assets | ||||||
26 | 78 | 42 | 116 | |||
Other investing activities | ||||||
8 | -15 | -3 | 3 | |||
Cash used in investing activities | ||||||
-1,803 | -1,458 | -1,295 | -1,069 | |||
Financing activities | ||||||
Dividends paid | ||||||
412 | 348 | 310 | 255 | |||
Issuance of CP Common Shares | ||||||
26 | 24 | 45 | 21 | |||
Purchase of CP Common Shares | ||||||
1,134 | 1,103 | 381 | 1,210 | |||
Issuance of long-term debt, excluding commercial paper | ||||||
397 | 638 | 0 | 0 | |||
Repayment of long-term debt, excluding commercial paper | ||||||
500 | 753 | 32 | 38 | |||
Net repayment of commercial paper | ||||||
524 | 0 | 0 | -8 | |||
Settlement of forward starting swaps on de-designation | ||||||
0 | 0 | 22 | 0 | |||
Other financing activities | ||||||
-12 | 0 | 0 | -3 | |||
Cash (used in) provided by financing activities | ||||||
-1,111 | -1,542 | -700 | -1,493 | |||
Effect of foreign currency fluctuations on U.S. dollar-denominated cash and cash equivalents | ||||||
-4 | 11 | -13 | -13 | |||
Cash position | ||||||
Increase in cash and cash equivalents | ||||||
72 | -277 | 174 | -486 | |||
Supplemental disclosures of cash flow information: | ||||||
Income taxes paid | ||||||
506 | 318 | 425 | 322 | |||
Interest paid | ||||||
444 | 463 | 475 | 488 | |||
CMQ | ||||||
Investment in Central Maine & Quebec Railway | ||||||
174 | 0 | 0 | - | |||