CNI FY 2010 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

FY 2010 Earnings

Reported February 9, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$6.1B	—	$5.4B	—	12.6%
Op. Income	$2.2B	—	$1.8B	—	25.7%
Gross Margin	40.9%	—	71.1%	—	-30.2pp
Net Margin	25.4%	—	25.2%	—	0.2pp
EPS (Diluted)	$3.31	—	$1.43	—	130.6%
Free Cash Flow	$1.0B	—	$641M	—	61.1%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$3.6B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$269M
Cost & Expenses	$3.9B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$263M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$565M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$610M
EBIT	$2.4B
EBITDA	$3.0B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$3.6B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$269M
Cost & Expenses	$3.9B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$263M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$565M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$610M
EBIT	$2.4B
EBITDA	$3.0B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$610M
Stock-Based Compensation	$0
Deferred Income Tax	$306M
Other Non-Cash Items	-$111M
Change in Working Capital	-$150M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$148M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	-$135M
Common Stock Repurchased	-$668M
Common Dividends Paid	-$368M
Other Financing Activities	$84M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$1.0B
Net Change in Cash	$101M

Balance Sheet

Item	Amount
Cash & Equivalents	$358M
Short-Term Investments	$0
Net Receivables	$567M
Inventory	$154M
Other Current Assets	$84M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$16.8B
Goodwill	$0
Intangible Assets	$511M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$17.3B
TOTAL ASSETS	$18.4B
Account Payables	$280M
Short-Term Debt	$395M
Deferred Revenue	$0
Other Current Liabilities	$448M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$4.0B
Deferred Revenue NC	$186M
Deferred Tax Liabilities	$3.8B
Other Non-Current Liabilities	$789M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$10.2B
Common Stock	$0
Additional Paid-In Capital	$3.1B
Retained Earnings	$6.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.3B
Minority Interest	$0
TOTAL EQUITY	$8.3B
TOTAL LIABILITIES & EQUITY	$18.4B
Total Debt	$4.5B
Net Debt	$4.1B