CNI FY 2011 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

FY 2011 Earnings

Reported February 3, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$6.6B	—	$6.1B	—	8.8%
Op. Income	$2.4B	—	$2.2B	—	9.0%
Gross Margin	39.6%	—	40.9%	—	-1.3pp
Net Margin	27.2%	—	25.4%	—	1.9pp
EPS (Diluted)	$4.02	—	$3.31	—	21.5%
Free Cash Flow	$988M	—	$1.0B	—	-4.4%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$202M
Cost & Expenses	$4.2B
OPERATING INCOME	$2.4B
Interest Income	$0
Interest Expense	$249M
Other Income/Expenses	$44M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$658M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$647M
EBIT	$2.7B
EBITDA	$3.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$202M
Cost & Expenses	$4.2B
OPERATING INCOME	$2.4B
Interest Income	$0
Interest Expense	$249M
Other Income/Expenses	$44M
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$658M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$647M
EBIT	$2.7B
EBITDA	$3.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$647M
Stock-Based Compensation	$0
Deferred Income Tax	$388M
Other Non-Cash Items	-$650M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$76M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$203M
Common Stock Repurchased	-$1.0B
Common Dividends Paid	-$428M
Other Financing Activities	$56M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$988M
Net Change in Cash	-$285M

Balance Sheet

Item	Amount
Cash & Equivalents	$74M
Short-Term Investments	$0
Net Receivables	$689M
Inventory	$147M
Other Current Assets	$442M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$17.5B
Goodwill	$0
Intangible Assets	$39M
Long-Term Investments	$23M
Tax Assets	$0
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$17.7B
TOTAL ASSETS	$19.0B
Account Payables	$325M
Short-Term Debt	$99M
Deferred Revenue	$0
Other Current Liabilities	$182M
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$4.7B
Deferred Revenue NC	$801M
Deferred Tax Liabilities	$3.9B
Other Non-Current Liabilities	$557M
TOTAL NON-CURRENT LIABILITIES	$10.0B
TOTAL LIABILITIES	$11.2B
Common Stock	$3.0B
Additional Paid-In Capital	$3.0B
Retained Earnings	$6.9B
Treasury Stock	$0
Accum. Other Comp. Income	-$2.1B
Other Equity	-$3.0B
TOTAL STOCKHOLDERS' EQUITY	$7.8B
Minority Interest	$0
TOTAL EQUITY	$7.8B
TOTAL LIABILITIES & EQUITY	$19.0B
Total Debt	$4.8B
Net Debt	$4.7B