CANADIAN PACIFIC KANSAS CITY LTD/CN (CP) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

Swipe to see the full flow
CANADIAN PACIFIC KANSAS CITY LTD/CN cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $3,713,000,000.00Depreciation and amortization (Note 10, 12, 14) → Operating adjustments reconciliation: $1,900,000,000.00Deferred income tax expense (recovery) (Note 10) → Operating adjustments reconciliation: $28,000,000.00Change in non-cash working capital balances related to operations (Note 21) → Operating adjustments reconciliation: $24,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,556,000,000.00Operating adjustments reconciliation → Pension recovery and funding (Note 22): $305,000,000.00Operating adjustments reconciliation → Settlement of foreign currency forward contracts (Note 17): $65,000,000.00Operating adjustments reconciliation → Other operating activities, net: $14,000,000.00Operating adjustments reconciliation → Settlement of Mexican taxes (Note 6): $12,000,000.00Proceeds from sale of properties and other assets → investing reconciliation: $64,000,000.00Other investing activities, net → investing reconciliation: $3,000,000.00investing reconciliation → Additions to properties: $2,825,000,000.00investing reconciliation → Additions to Meridian Speedway properties: $38,000,000.00Net cash used in financing activities → financing reconciliation: $2,252,000,000.00Net issuance (repayment) of commercial paper (Note 16) → financing reconciliation: $439,000,000.00Net increase in short-term borrowings (Note 16) → financing reconciliation: $274,000,000.00Issuance of Common Shares (Note 20) → financing reconciliation: $69,000,000.00Other financing activities, net → financing reconciliation: $2,000,000.00financing reconciliation → Repayment of long-term debt, excluding commercial paper (Note 16): $2,327,000,000.00financing reconciliation → Dividends paid: $709,000,000.00Net cash used in investing activities → investing reconciliation: $2,796,000,000.00Exchange-rate effect → Cash sources and uses: $54,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $464,000,000.00Net cash from operating activities → Cash sources and uses: $5,269,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $739,000,000.00Cash sources and uses → Net cash used in investing activities: $2,796,000,000.00Cash sources and uses → Net cash used in financing activities: $2,252,000,000.00Settlement of foreign currency forward contracts (Note 17): -$65,000,000.00Settlement of foreign currency forward contracts(Note 17)−$65.00 MDeferred income tax expense (recovery) (Note 10): $28,000,000.00Deferred income taxes+$28.00 MEquity earnings of Kansas City Southern (Note 10, 11): $0.00Pension recovery and funding (Note 22): -$305,000,000.00Pension expense, noncash−$305.00 MDepreciation and amortization (Note 10, 12, 14): $1,900,000,000.00Depreciation & amortization+$1.90 BRemeasurement loss of Kansas City Southern (Note 10): $0.00Other operating activities, net: -$14,000,000.00Other operating, net−$14.00 MNet income (loss): $3,713,000,000.00Net income (loss)+$3.71 BSettlement of Mexican taxes (Note 6): -$12,000,000.00Settlement of Mexican taxes (Note 6)−$12.00 MChange in non-cash working capital balances related to operations (Note 21): $24,000,000.00Other current items, net+$24.00 MDividends from Kansas City Southern (Note 11): $0.00Net cash from operating activities: $5,269,000,000.00Operating cash+$5.27 BOperating adjustments reconciliation: $1,952,000,000.00Repayment of term loan (Note 16): $0.00Net issuance (repayment) of commercial paper (Note 16): $439,000,000.00Commercial paper, net+$439.00 MIssuance of Common Shares (Note 20): $69,000,000.00Common stock issued+$69.00 MNet increase in short-term borrowings (Note 16): $274,000,000.00Credit lines, net+$274.00 MAcquisition-related financing fees (Note 10): $0.00Other financing activities, net: $2,000,000.00Other financing, net+$2.00 MDividends paid: -$709,000,000.00Common dividends paid−$709.00 MRepayment of long-term debt, excluding commercial paper (Note 16): -$2,327,000,000.00Debt & capital securities repaid−$2.33 BNet cash used in financing activities: -$2,252,000,000.00. Cash required to fund net payments.Financing cash−$2.25 Bfinancing reconciliation: $3,036,000,000.00Proceeds from sale of properties and other assets: $64,000,000.00Other asset sales+$64.00 MOther investing activities, net: $3,000,000.00Other investing, net+$3.00 MAdditions to Meridian Speedway properties: -$38,000,000.00Meridian Speedway additions−$38.00 MAdditions to properties: -$2,825,000,000.00PP&E purchases−$2.83 BProceeds from settlement of government securities (Note 16): $0.00Investment in government securities (Note 16): $0.00Cash acquired on control of Kansas City Southern (Note 10): $0.00Net cash used in investing activities: -$2,796,000,000.00. Cash required to fund net payments.Investing cash−$2.80 Binvesting reconciliation: $2,863,000,000.00Cash sources and uses: $5,787,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $464,000,000.00Beginning cash$464.00 MEnding cash: Cash, cash equivalents, and restricted cash: $739,000,000.00Ending cash$739.00 MExchange-rate effect: $54,000,000.00FX effect+$54.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.44 BOperating cash − cash spent on PP&ECash flow / Net income1.42×Operating cash flow ÷ net incomeNet cash change+$275.00 MEnding cash − beginning cash
Chart details

CANADIAN PACIFIC KANSAS CITY LTD/CN cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
464,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
5,269,000,000 US dollars. Net cash provided.
Settlement of foreign currency forward contracts (Note 17)
negative 65,000,000 US dollars
Deferred income tax expense (recovery) (Note 10)
28,000,000 US dollars
Equity earnings of Kansas City Southern (Note 10, 11)
0 US dollars
Pension recovery and funding (Note 22)
negative 305,000,000 US dollars
Depreciation and amortization (Note 10, 12, 14)
1,900,000,000 US dollars
Remeasurement loss of Kansas City Southern (Note 10)
0 US dollars
Other operating activities, net
negative 14,000,000 US dollars
Net income (loss)
3,713,000,000 US dollars
Settlement of Mexican taxes (Note 6)
negative 12,000,000 US dollars
Change in non-cash working capital balances related to operations (Note 21)
24,000,000 US dollars
Dividends from Kansas City Southern (Note 11)
0 US dollars
Investing activities
negative 2,796,000,000 US dollars. Net cash used.
Proceeds from sale of properties and other assets
64,000,000 US dollars
Other investing activities, net
3,000,000 US dollars
Additions to Meridian Speedway properties
negative 38,000,000 US dollars
Additions to properties
negative 2,825,000,000 US dollars
Proceeds from settlement of government securities (Note 16)
0 US dollars
Investment in government securities (Note 16)
0 US dollars
Cash acquired on control of Kansas City Southern (Note 10)
0 US dollars
Financing activities
negative 2,252,000,000 US dollars. Net cash used.
Repayment of term loan (Note 16)
0 US dollars
Net issuance (repayment) of commercial paper (Note 16)
439,000,000 US dollars
Issuance of Common Shares (Note 20)
69,000,000 US dollars
Net increase in short-term borrowings (Note 16)
274,000,000 US dollars
Acquisition-related financing fees (Note 10)
0 US dollars
Other financing activities, net
2,000,000 US dollars
Dividends paid
negative 709,000,000 US dollars
Repayment of long-term debt, excluding commercial paper (Note 16)
negative 2,327,000,000 US dollars
Operating adjustment reconciliation
1,952,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
3,036,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,863,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
54,000,000 US dollars
Ending cash on Dec 31, 2024
739,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
5,787,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
275,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.42×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
5,269,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
2,825,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,444,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.56B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 5,269,000,000 US dollars minus 2,825,000,000 US dollars equals 2,444,000,000 US dollars.
CANADIAN PACIFIC KANSAS CITY LTD/CN (CP) FY2024 Annual Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!