Canadian Pacific Kansas City Limited (CP)

Canadian Pacific Railway Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	4,265	3,718	3,927	3,517	2,852	2,444
Depreciation & Amortization	1,988	1,900	1,543	853	811	779
Loss (Gain) From Sale of Investments	-333	-	7,175	-	-	-
Loss (Gain) on Equity Investments	-	-	70	83	141	-
Other Operating Activities	-406	-373	-8,270	-219	-50	-32
Change in Accounts Receivable	-133	-133	-317	-147	32	-61
Change in Inventory	-36	-36	1	-27	-14	-15
Change in Accounts Payable	202	202	57	95	-108	-308
Change in Other Net Operating Assets	-58	-9	-49	-13	24	-5
Operating Cash Flow	5,489	5,269	4,137	4,142	3,688	2,802
Operating Cash Flow Growth	12.00%	27.36%	-0.12%	12.31%	31.62%	-6.29%
Capital Expenditures	-3,096	-2,863	-2,499	-1,557	-1,532	-1,671
Sale of Property, Plant & Equipment	61	64	57	58	96	22
Cash Acquisitions	-	-	298	-	-	-379
Investment in Securities	493	-	7	-	-12,299	-
Other Investing Activities	-73	3	-25	3	5	-2
Investing Cash Flow	-2,615	-2,796	-2,162	-1,496	-13,730	-2,030
Short-Term Debt Issued	-	713	1,095	-	-	275
Long-Term Debt Issued	-	-	-	-	11,306	958
Total Debt Issued	3,861	713	1,095	-	11,306	1,233
Short-Term Debt Repaid	-	-	-	-415	-454	-
Long-Term Debt Repaid	-	-2,327	-2,395	-1,207	-359	-84
Total Debt Repaid	-2,535	-2,327	-2,395	-1,622	-813	-84
Net Debt Issued (Repaid)	1,326	-1,614	-1,300	-1,622	10,493	1,149
Issuance of Common Stock	66	69	69	32	25	52
Repurchase of Common Stock	-3,545	-	-	-	-	-1,509
Common Dividends Paid	-769	-709	-707	-707	-507	-467
Other Financing Activities	-6	2	-17	-	-75	11
Financing Cash Flow	-2,928	-2,252	-1,955	-2,297	9,936	-764
Foreign Exchange Rate Adjustments	2	54	-7	20	41	6
Net Cash Flow	-52	275	13	369	-65	14
Free Cash Flow	2,393	2,406	1,638	2,585	2,156	1,131
Free Cash Flow Growth	14.83%	46.89%	-36.63%	19.90%	90.63%	-15.79%
Free Cash Flow Margin	15.92%	16.54%	13.05%	29.33%	26.97%	14.67%
Free Cash Flow Per Share	2.58	2.57	1.75	2.77	3.16	1.66
Cash Interest Paid	857	814	825	641	426	443
Cash Income Tax Paid	1,084	958	906	408	552	582
Levered Free Cash Flow	2,272	2,329	1,476	1,269	1,532	957.88
Unlevered Free Cash Flow	2,803	2,830	1,958	1,677	1,807	1,244
Change in Working Capital	-25	24	-308	-92	-66	-389

Updated Oct 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q