Page 93 - Suncor AR English

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended December 31 ($ millions) 2013 2012

(restated –
note 6)
Operating Activities
.......................................................................................................................................................................................................................................................
Net earnings 3 911 2 740
.......................................................................................................................................................................................................................................................
Adjustments for:
.......................................................................................................................................................................................................................................................
Depreciation, depletion, amortization and impairment 4 892 6 446 .......................................................................................................................................................................................................................................................
Deferred income taxes 382 729
.......................................................................................................................................................................................................................................................
Accretion 192 182
.......................................................................................................................................................................................................................................................
Unrealized foreign exchange loss (gain) on U.S. dollar denominated debt 605 (181)
.......................................................................................................................................................................................................................................................
Change in fair value of derivative contracts 95 10
.......................................................................................................................................................................................................................................................
Gain on disposal of assets (137) (44)
.......................................................................................................................................................................................................................................................
Share-based compensation 214 214
.......................................................................................................................................................................................................................................................
Exploration 82 145
.......................................................................................................................................................................................................................................................
Settlement of decommissioning and restoration liabilities (423) (433) .......................................................................................................................................................................................................................................................
Recognition of risk mitigation proceeds (300) —
.......................................................................................................................................................................................................................................................
Other (101) (75)
.......................................................................................................................................................................................................................................................
Decrease (increase) in non-cash working capital (note 15) 688 (874)

Cash flow provided by operating activities 10 100 8 859

Investing Activities
.......................................................................................................................................................................................................................................................
Capital and exploration expenditures (6 777) (6 957)
.......................................................................................................................................................................................................................................................
Acquisitions (note 33) (515) — .......................................................................................................................................................................................................................................................
Proceeds from disposal of assets 943 67
.......................................................................................................................................................................................................................................................
Proceeds from risk mitigation instruments — 300
.......................................................................................................................................................................................................................................................
Divestiture of pipeline contract (note 24) (76) —
.......................................................................................................................................................................................................................................................
Other investments (18) (3)
.......................................................................................................................................................................................................................................................
Increase in non-cash working capital (note 15) (90) (51)

Cash flow used in investing activities (6 533) (6 644)

.......................................................................................................................................................................................................................................................
Financing Activities

Net change in short-term debt (32) 13 .......................................................................................................................................................................................................................................................
Net change in long-term debt 170 414
.......................................................................................................................................................................................................................................................
Repayment of long-term debt (312) —
.......................................................................................................................................................................................................................................................
Issuance of common shares under share option plans 112 188
.......................................................................................................................................................................................................................................................
Purchase of common shares for cancellation, net of option premiums (note 25) (1 675) (1 451)
.......................................................................................................................................................................................................................................................
Dividends paid on common shares (1 095) (756)

Cash flow used in financing activities
(2 832)
(1 592)

Increase in Cash and Cash Equivalents
735
623
.......................................................................................................................................................................................................................................................
Effect of foreign exchange on cash and cash equivalents 82 (19)
.......................................................................................................................................................................................................................................................
Cash and cash equivalents at beginning of year 4 385 3 781

Cash and Cash Equivalents at End of Year 5 202 4 385

Supplementary Cash Flow Information
.......................................................................................................................................................................................................................................................
Interest paid 711 642
.......................................................................................................................................................................................................................................................
Income taxes paid 1 339 1 510

The accompanying notes are an integral part of the consolidated financial statements.

SUNCOR ENERGY INC. ANNUAL REPORT 2013 89