Operating Activities

Net Income

1,715

1,086

601

Charges and Credits to Income not Involving Cash (Note 20a)

2,136

2,073

1,629

Exploration Expense

402

326

362

Changes in Non-Cash Working Capital (Note 20b)

119

(348)

(177)

Other

(18)

(307)

(41)

4,354

2,830

2,374

Financing Activities

Proceeds from Long-Term Notes

–

1,660

–

Repayment of Medium-Term Notes and Debentures

(125)

(150)

(93)

Proceeds from (Repayment of) Term Credit Facilities, Net

803

(697)

1,044

Proceeds from (Repayment of) Short-Term Borrowings, Net

(4)

(150)

160

Proceeds from Canexus Notes

51

–

–

Proceeds from (Repayment of) Term Credit Facilities of Canexus, Net

(20)

60

2

Dividends on Common Shares

(92)

(53)

(52)

Distributions Paid to Non-Controlling Interests

(17)

(28)

(28)

Issue of Common Shares and Exercise of Tandem Options for Shares (Note 15b)

64

56

48

Repurchase of Common Shares for Cancellation (Note 15b)

(338)

–

–

Other

–

(21)

–

322

677

1,081

Investing Activities

Capital Expenditures

Exploration and Development

(2,895)

(3,132)

(3,198)

Proved Property Acquisitions

(22)

(151)

(13)

Chemicals, Corporate and Other

(149)

(118)

(119)

Business Acquisitions, Net of Cash Acquired
(Note 5)

–

–

(78)

Proceeds on Disposition of Assets

6

4

27

Changes in Non-Cash Working Capital (Note 20b)

(124)

130

134

Changes in Restricted Cash

106

(16)

(127)

Other

(111)

2

(14)

(3,189)

(3,281)

(3,388)

Effect of Exchange Rate Changes on
Cash and Cash Equivalents

310

(121)

(14)

Increase in Cash and Cash Equivalents

1,797

105

53

Cash and Cash Equivalents, Beginning of Year

206

101

48

Cash and Cash Equivalents, End of Year

2,003

206

101