$CP
CANADIAN PACIFIC KANSAS CITY LTD/CN

2020 Q2 Form 10-Q Financial Statement

#000001687520000024 Filed on July 22, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue 1.792B CADs 1.977B CADs 1.767B CADs
YoY Change -9.36% 12.97% 6.32%
Cost Of Revenue $181.0M $290.0M $266.0M
YoY Change -37.59% 2.47% -1.48%
Gross Profit $1.611B $1.687B $1.501B
YoY Change -4.51% 15.0% 7.83%
Gross Profit Margin 89.9% 85.33% 84.95%
Selling, General & Admin $380.0M $417.0M $441.0M
YoY Change -8.87% 8.59% 8.35%
% of Gross Profit 23.59% 24.72% 29.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization 195.0M CADs $183.0M $160.0M
YoY Change 6.56% 6.4% -5.88%
% of Gross Profit 12.1% 10.85% 10.66%
Operating Expenses $1.022B $1.155B $1.224B
YoY Change -11.52% 2.85% 9.09%
Operating Profit 770.0M CADs 822.0M CADs 543.0M CADs
YoY Change -6.33% 31.1% 0.56%
Interest Expense -$33.00M -$71.00M -$66.00M
YoY Change -53.52% -55.63% -59.51%
% of Operating Profit -4.29% -8.64% -12.15%
Other Income/Expense, Net 86.00M CADs $40.00M $47.00M
YoY Change 115.0% -176.92% -192.16%
Pretax Income 824.0M CADs $848.0M $573.0M
YoY Change -2.83% 51.97% 21.91%
Income Tax 189.0M CADs $124.0M $139.0M
% Of Pretax Income 22.94% 14.62% 24.26%
Net Earnings 635.0M CADs 724.0M CADs 434.0M CADs
YoY Change -12.29% 66.06% 24.71%
Net Earnings / Revenue 35.44% 36.62% 24.56%
Basic Earnings Per Share $0.94 $5.19 $3.10
Diluted Earnings Per Share $0.93 $5.17 $3.09
COMMON SHARES
Basic Shares Outstanding 678.2M shares 139.7M shares 140.1M shares
Diluted Shares Outstanding 680.5M shares 140.2M shares 140.5M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $277.0M $45.00M $352.0M
YoY Change 515.56% -11.76% 181.6%
Cash & Equivalents $277.0M $45.00M $352.0M
Short-Term Investments
Other Short-Term Assets $110.0M $80.00M $98.00M
YoY Change 37.5% -22.33% -29.5%
Inventory $192.0M $195.0M $182.0M
Prepaid Expenses
Receivables $776.0M $795.0M $744.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.355B $1.115B $1.376B
YoY Change 21.52% 11.5% 23.19%
LONG-TERM ASSETS
Property, Plant & Equipment $20.02B $18.49B $18.41B
YoY Change 8.28% 4.96% 6.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $223.0M $210.0M $201.0M
YoY Change 6.19% 8.81% 8.06%
Other Assets $460.0M $466.0M $470.0M
YoY Change -1.29% 628.13% 473.17%
Total Long-Term Assets $22.21B $20.82B $20.53B
YoY Change 6.67% 5.76% 6.94%
TOTAL ASSETS
Total Short-Term Assets $1.355B $1.115B $1.376B
Total Long-Term Assets $22.21B $20.82B $20.53B
Total Assets $23.56B $21.93B $21.91B
YoY Change 7.43% 6.03% 7.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.577B $1.329B $1.241B
YoY Change 18.66% 9.56% 4.9%
Accrued Expenses $72.00M $71.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $185.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $91.00M $88.00M $496.0M
YoY Change 3.41% -83.91% -34.39%
Total Short-Term Liabilities $1.668B $1.674B $1.808B
YoY Change -0.36% -4.89% -6.76%
LONG-TERM LIABILITIES
Long-Term Debt $9.457B $8.266B $8.427B
YoY Change 14.41% 4.16% 10.87%
Other Long-Term Liabilities $544.0M $598.0M $574.0M
YoY Change -9.03% 174.31% 180.0%
Total Long-Term Liabilities $544.0M $598.0M $574.0M
YoY Change -9.03% 174.31% 180.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.668B $1.674B $1.808B
Total Long-Term Liabilities $544.0M $598.0M $574.0M
Total Liabilities $16.10B $14.78B $15.10B
YoY Change 8.94% 4.71% 8.73%
SHAREHOLDERS EQUITY
Retained Earnings $7.872B $7.125B $6.630B
YoY Change 10.48% 15.12% 9.19%
Common Stock $2.043B $2.041B $2.043B
YoY Change 0.1% -0.83% -1.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity 7.465B CADs $7.157B $6.814B
YoY Change
Total Liabilities & Shareholders Equity $23.56B $21.93B $21.91B
YoY Change 7.43% 6.03% 7.84%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income 635.0M CADs 724.0M CADs 434.0M CADs
YoY Change -12.29% 66.06% 24.71%
Depreciation, Depletion And Amortization 195.0M CADs $183.0M $160.0M
YoY Change 6.56% 6.4% -5.88%
Cash From Operating Activities 835.0M CADs $721.0M $413.0M
YoY Change 15.81% 1.41% 4.03%
INVESTING ACTIVITIES
Capital Expenditures 502.0M CADs $459.0M $224.0M
YoY Change 9.37% 11.14% -7.05%
Acquisitions
YoY Change
Other Investing Activities -10.00M CADs $4.000M $1.000M
YoY Change -350.0% 0.0%
Cash From Investing Activities -468.0M CADs -$455.0M -$219.0M
YoY Change 2.86% 11.52% -7.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net 39.00M CADs $247.0M $203.0M
YoY Change -84.21% -3.89% -30.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -322.0M CADs -572.0M 98.00M
YoY Change -43.71% 50.13% -125.99%
NET CHANGE
Cash From Operating Activities 835.0M CADs 721.0M 413.0M
Cash From Investing Activities -468.0M CADs -455.0M -219.0M
Cash From Financing Activities -322.0M CADs -572.0M 98.00M
Net Change In Cash 30.00M CADs -307.0M 291.0M
YoY Change -109.77% 314.86% -236.62%
FREE CASH FLOW
Cash From Operating Activities 835.0M CADs $721.0M $413.0M
Capital Expenditures 502.0M CADs $459.0M $224.0M
Free Cash Flow 333.0M CADs $262.0M $189.0M
YoY Change 27.1% -12.08% 21.15%

Facts In Submission

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CANADIAN PACIFIC RAILWAY LTD/CN
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136100000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140400000 shares
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2480000000
CY2020Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5000000
CY2020Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-35000000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
30000000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2450000000
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2027000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
0
CY2019Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-18000000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18000000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2009000000
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2522000000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2000000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-70000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
72000000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2450000000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2043000000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-2000000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-36000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
34000000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2009000000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
41000000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
43000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1000000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
3000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
816000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
776000000
CY2019Q4 us-gaap Commercial Paper
CommercialPaper
397000000 USD
CY2020Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
12115000000
CY2019Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
10149000000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54000000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
39000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
73000000
CY2020Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
82000000
CY2019Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
77000000
cp Expected Time Period For Payment Of Provision For Environmental Remediation
ExpectedTimePeriodForPaymentOfProvisionForEnvironmentalRemediation
P10Y

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