$CP
CANADIAN PACIFIC KANSAS CITY LTD/CN

2020 Q4 Form 10-Q Financial Statement

#000001687520000032 Filed on October 20, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue 2.012B CADs 1.863B CADs 1.979B CADs
YoY Change -2.75% -5.86% 4.27%
Cost Of Revenue $223.0M $193.0M $260.0M
YoY Change -19.2% -25.77% -4.76%
Gross Profit $1.789B $1.670B $1.719B
YoY Change -0.22% -2.85% 5.78%
Gross Profit Margin 88.92% 89.64% 86.86%
Selling, General & Admin $467.0M $421.0M $388.0M
YoY Change 8.35% 8.51% -2.51%
% of Gross Profit 26.1% 25.21% 22.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $197.0M 195.0M CADs $185.0M
YoY Change 10.67% 5.41% 6.32%
% of Gross Profit 11.01% 11.68% 10.76%
Operating Expenses $861.0M $1.084B $1.110B
YoY Change -4.65% -2.34% 0.18%
Operating Profit 928.0M CADs 779.0M CADs 869.0M CADs
YoY Change 4.27% -10.36% 10.0%
Interest Expense -$184.0M -$152.0M -$137.0M
YoY Change 145.33% 10.95% 87.67%
% of Operating Profit -19.83% -19.51% -15.77%
Other Income/Expense, Net $253.0M 36.00M CADs -$29.00M
YoY Change 212.35% -224.14% -161.7%
Pretax Income $997.0M 787.0M CADs $829.0M
YoY Change 11.27% -5.07% 0.97%
Income Tax $195.0M 189.0M CADs $211.0M
% Of Pretax Income 19.56% 24.02% 25.45%
Net Earnings 802.0M CADs 598.0M CADs 618.0M CADs
YoY Change 20.78% -3.24% -0.64%
Net Earnings / Revenue 39.86% 32.1% 31.23%
Basic Earnings Per Share $1.19 $0.88 $4.47
Diluted Earnings Per Share $1.19 $0.88 $4.46
COMMON SHARES
Basic Shares Outstanding 134.5M shares 676.2M shares 138.1M shares
Diluted Shares Outstanding 679.0M shares 138.7M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.0M $183.0M $145.0M
YoY Change 10.53% 26.21% -3.33%
Cash & Equivalents 147.0M CADs $183.0M $145.0M
Short-Term Investments
Other Short-Term Assets 141.0M CADs $116.0M $83.00M
YoY Change 56.67% 39.76% 27.69%
Inventory $208.0M $185.0M $188.0M
Prepaid Expenses
Receivables 825.0M CADs $840.0M $770.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets 1.321B CADs $1.324B $1.186B
YoY Change 9.17% 11.64% 4.96%
LONG-TERM ASSETS
Property, Plant & Equipment 20.42B CADs $20.17B $18.91B
YoY Change 6.61% 6.66% 6.28%
Goodwill 329.0M CADs
YoY Change 69.59%
Intangibles
YoY Change
Long-Term Investments 0.000 CADs $223.0M $215.0M
YoY Change -100.0% 3.72% 6.97%
Other Assets 438.0M CADs $470.0M $462.0M
YoY Change -2.88% 1.73% 579.41%
Total Long-Term Assets 22.32B CADs $22.46B $21.35B
YoY Change 5.49% 5.2% 6.88%
TOTAL ASSETS
Total Short-Term Assets 1.321B CADs $1.324B $1.186B
Total Long-Term Assets 22.32B CADs $22.46B $21.35B
Total Assets 23.64B CADs $23.79B $22.54B
YoY Change 5.69% 5.54% 6.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.404B $1.380B $1.342B
YoY Change -13.55% 2.83% 12.87%
Accrued Expenses 294.0M CADs $73.00M
YoY Change -15.52%
Deferred Revenue
YoY Change
Short-Term Debt $820.0M $0.00 $455.0M
YoY Change 58.91% -100.0%
Long-Term Debt Due $366.0M $841.0M $220.0M
YoY Change 340.96% 282.27% -54.17%
Total Short-Term Liabilities 2.653B CADs $2.221B $2.090B
YoY Change 15.75% 6.27% 25.22%
LONG-TERM LIABILITIES
Long-Term Debt $8.585B $8.945B $8.308B
YoY Change 5.23% 7.67% 6.43%
Other Long-Term Liabilities 585.0M CADs $576.0M $579.0M
YoY Change 4.09% -0.52% 149.57%
Total Long-Term Liabilities 585.0M CADs $576.0M $579.0M
YoY Change 4.09% -0.52% 149.57%
TOTAL LIABILITIES
Total Short-Term Liabilities 2.653B CADs $2.221B $2.090B
Total Long-Term Liabilities 585.0M CADs $576.0M $579.0M
Total Liabilities 16.32B CADs $16.21B $15.32B
YoY Change 6.69% 5.77% 9.61%
SHAREHOLDERS EQUITY
Retained Earnings 8.095B CADs $7.961B $7.180B
YoY Change 7.22% 10.88% 6.88%
Common Stock 2.038B CADs $2.034B $2.027B
YoY Change -0.15% 0.35% -1.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity 7.319B cads 7.579B CADs $7.215B
YoY Change
Total Liabilities & Shareholders Equity 23.64B CADs $23.79B $22.54B
YoY Change 5.69% 5.54% 6.77%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income 802.0M CADs 598.0M CADs 618.0M CADs
YoY Change 20.78% -3.24% -0.64%
Depreciation, Depletion And Amortization $197.0M 195.0M CADs $185.0M
YoY Change 10.67% 5.41% 6.32%
Cash From Operating Activities $985.0M 493.0M CADs $823.0M
YoY Change -4.65% -40.1% 22.29%
INVESTING ACTIVITIES
Capital Expenditures -$330.0M 484.0M CADs $464.0M
YoY Change -34.0% 4.31% 7.91%
Acquisitions
YoY Change
Other Investing Activities -$387.0M 1.000M CADs $1.000M
YoY Change 130.36% 0.0%
Cash From Investing Activities -$717.0M -483.0M CADs -$461.0M
YoY Change 7.34% 4.77% 8.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net 397.0M CADs $494.0M
YoY Change -19.64% -12450.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -298.0M -100.0M CADs -263.0M
YoY Change -20.32% -61.98% 80.14%
NET CHANGE
Cash From Operating Activities 985.0M 493.0M CADs 823.0M
Cash From Investing Activities -717.0M -483.0M CADs -461.0M
Cash From Financing Activities -298.0M -100.0M CADs -263.0M
Net Change In Cash -30.00M -94.00M CADs 100.0M
YoY Change 233.33% -194.0% 1.01%
FREE CASH FLOW
Cash From Operating Activities $985.0M 493.0M CADs $823.0M
Capital Expenditures -$330.0M 484.0M CADs $464.0M
Free Cash Flow $1.315B 9.000M CADs $359.0M
YoY Change -14.22% -97.49% 47.74%

Facts In Submission

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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139800000 shares
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2450000000
CY2020Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1000000
CY2020Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-35000000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
34000000
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2416000000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2009000000
CY2019Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1000000
CY2019Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-16000000
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
17000000
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1992000000
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
1000000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-105000000
CY2020Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
11860000000
CY2019Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
10149000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
106000000
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2416000000
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
-1000000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-52000000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
51000000
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1992000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
43000000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
0
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
3000000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
880000000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000000
CY2020Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
840000000
CY2020Q3 us-gaap Commercial Paper
CommercialPaper
345000000 USD
CY2019Q4 us-gaap Commercial Paper
CommercialPaper
397000000 USD
CY2020Q3 cp Debtandfinanceleaseliabilities
Debtandfinanceleaseliabilities
9327000000
CY2019Q4 cp Debtandfinanceleaseliabilities
Debtandfinanceleaseliabilities
8241000000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
56000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
110000000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
88000000
CY2020Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
81000000
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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