| ($ millions) | 2006 | 2005 | ||
| Cash provided by (used in) | ||||
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $ | 834 | $ | 831 |
| Items not requiring outlay of cash | ||||
| Depreciation, depletion and accretion | 255 | 198 | ||
| Amortization | 3 | 3 | ||
| Foreign exchange on long-term debt | (1) | (36) | ||
| Future income tax expense | 18 | 1 | ||
| Other | 1 | 2 | ||
| Net change in deferred items | 10 | 6 | ||
| Funds from operations | 1,120 | 1,005 | ||
| Change in non-cash working capital (Note 20(a)) | 22 | (56) | ||
| Cash from operating activities | 1,142 | 949 | ||
| Financing activities | ||||
| Net drawdown (repayment) of bank credit facilities (Note 8) | (92) | 73 | ||
| Unitholder distributions (Note 15) | (512) | (184) | ||
| Issuance of Trust Units (Note 12(a)) | 250 | 99 | ||
| Change in non-cash working capital (Note 20(a)) | – | (46) | ||
| Cash used in financing activities | (354) | (58) | ||
| Investing activities | ||||
| Capital expenditures | (300) | (800) | ||
| Acquisition of Canadian Arctic Gas Ltd. (Note 3) | (199) | – | ||
| Disposition of properties (Note 3) | 28 | – | ||
| Reclamation trust | (5) | (4) | ||
| Change in non-cash working capital (Note 20(a)) | (47) | (17) | ||
| Cash used in investing activities | (523) | (821) | ||
| Increase in cash and cash equivalents | 265 | 70 | ||
| Cash and cash equivalents, beginning of year | 88 | 18 | ||
| Cash and cash equivalents, end of year | $ | 353 | 88 | |
| Cash and cash equivalents consist of: | ||||
| Cash | $ | 8 | $ | 2 |
| Short-term investments | 345 | 86 | ||
| $ | 353 | $ | 88 | |
| Supplementary Information (Note 20(b)) | ||||
See Notes to Consolidated Financial Statements.
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| Consolidated Balance Sheets |  Print This Section |
Notes to Consolidated Financial Statements |
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