Investment in KCS (Tables)

3 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Summarized financial information

The following table presents summarized financial information for KCS, on its historical cost basis:

Statement of Income

(in millions of Canadian dollars)(1)	For the three months ended March 31, 2023		For the three months ended March 31, 2022
Total revenues	$	1,187	$	986
Total operating expenses	779		617
Operating income	408		369
Less: Other(2)	74		39
Income before income taxes	334		330
Net income	$	246	$	238

(1) Amounts translated at exchange rates averaging $1.00 USD = $1.35 CAD for the three months ended March 31, 2023 and $1.00 USD= $1.27 CAD for the three months ended March 31, 2022.

(2) Includes Equity in net earnings of KCS's affiliates, Interest expense, FX loss, and Other income, net.