Consolidated Statements of Cash Flows

For the years ended December 31 ($Cdn thousands)	Note	2015	2014
See accompanying notes to consolidated financial statements.
Operating activities
Net earnings		$63,362	$183,413
Adjustments for:
Depreciation and amortization		312,518	338,983
Deferred charges		5,834	61,869
Unrealized losses on derivatives		92,166	40,569
Share-based compensation	25	16,853	15,808
Loss on sale of assets		2,326	44,762
Finance costs	20	103,615	111,853
Finance income		(5,417)	(7,402)
Share of loss from equity-accounted investees		758	17,141
Impairment charge	9,12	215,488	326,693
Other income	21	(54,409)	(35,353)
Discontinued operation	6	—	(127,243)
Income tax recovery	22	(142,630)	(175,268)
Interest received		3,922	5,935
Income taxes paid		(92,758)	(233,716)
Other operating items	24	(71,618)	(87,862)
Net cash provided by operations		450,010	480,182
Investing activities
Additions to property, plant and equipment		(358,562)	(480,108)
Increase in long-term receivables, investments and other		17,557	11,569
Proceeds from sale of property, plant and equipment		198	701
Net cash used in investing (continuing operations)		(340,807)	(467,838)
Net cash provided by investing (discontinued operation)	6	—	447,096
Net cash used in investing		(340,807)	(20,742)
Financing activities
Increase in debt		—	496,476
Decrease in debt		(10)	(351,046)
Interest paid		(69,507)	(78,144)
Proceeds from issuance of shares, stock option plan		—	6,228
Contributions from non-controlling interest		—	794
Dividends paid		(158,313)	(158,200)
Net cash used in financing		(227,830)	(83,892)
Increase (decrease) in cash and cash equivalents, during the year		(118,627)	375,548
Exchange rate changes on foreign currency cash balances		10,648	3,126
Cash and cash equivalents, beginning of year		566,583	187,909
Cash and cash equivalents, end of year		$458,604	$566,583
Cash and cash equivalents is comprised of:
Cash		$240,603	$86,664
Cash equivalents		218,001	479,919
Cash and cash equivalents		$458,604	$566,583