Investment in Kansas City Southern (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

The following tables present summarized financial information for KCS, on its historical cost basis:

Consolidated Statements of Income


(in millions of Canadian dollars)(1)	For the period January 1 to April 13, 2023		For the year ended December 31, 2022(3)		For the period December 14 to December 31, 2021
Total revenues	$	1,351	$	4,390	$	178
Total operating expenses	888		2,794		287
Operating income (loss)	463		1,596		(109)
Less: Other(2)	83		(119)		12
Income (loss) before income taxes	380		1,715		(121)
Net income (loss)	$	280	$	1,287	$	(106)

(1) Amounts translated at the average FX rate for the period from January 1 to April 13, 2023 of $1.00 USD = $1.35 CAD, for the year ended December 31, 2022 of $1.00 USD = $1.30 CAD, and for the period from December 14 to 31, 2021 of $1.00 USD = $1.28 CAD.

(2) Includes Equity in net earnings of KCS's affiliates, Interest expense, FX loss, Gain on settlement of treasury lock agreements, and Other income, net.

(3) Certain 2022 comparative figures have been revised to conform with current year's presentation regarding translation of KCS's historical results from U.S. dollars to Canadian dollars.

Consolidated Balance Sheet


(in millions of Canadian dollars)(1)	As at December 31, 2022
Assets
Current assets	$	1,441
Properties	12,680
Other non-current assets	340

Liabilities
Current liabilities	$	1,748
Long-term debt	4,232
Other non-current liabilities	1,987
Non-controlling interest	448

(1) Amounts translated at the December 31, 2022 year-end at FX rate of $1.00 USD = $1.35 CAD.