v3.22.4
Consolidated Statements of Income - CAD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Revenues $ 17,107 $ 14,477 $ 13,819
Operating expenses      
Labor and fringe benefits 2,935 2,879 2,723
Purchased services and material 2,191 2,082 2,152
Fuel 2,518 1,513 1,152
Depreciation and amortization 1,729 1,598 1,589
Equipment rents 338 336 432
Casualty and other 556 506 508
Loss (recovery) on assets held for sale 0 (137) 486
Transaction-related costs 0 84 0
Total operating expenses 10,267 8,861 9,042
Operating income 6,840 5,616 4,777
Interest expense (548) (610) (554)
Other components of net periodic benefit income 498 407 [1] 292 [1]
Merger termination fee 0 886 0
Other income (loss) (27) 43 6
Income before income taxes 6,763 6,342 [1] 4,521 [1]
Income tax expense (1,645) (1,443) [1] (976) [1]
Net income $ 5,118 $ 4,899 [1] $ 3,545 [2]
Earnings per share      
Basic (in dollars per share) $ 7.46 $ 6.91 [1] $ 4.98 [1]
Diluted (in dollars per share) $ 7.44 $ 6.90 [1] $ 4.97 [1]
Weighted-average number of shares      
Basic (in shares) 686.4 708.5 711.3
Diluted (in shares) 688.3 710.3 713.0
[1] In the first quarter of 2022, the Company changed its method of calculating market-related values of pension assets for its defined benefit plans using a retrospective approach. Comparative figures have been restated to conform to the change in methodology. See Note 2 – Change in accounting policy for additional information.
[2] In the first quarter of 2022, the Company changed its method of calculating market-related values of pension assets for its defined benefit plans using a retrospective approach. Comparative figures have been restated to conform to the change in methodology. See Note 2 – Change in accounting policy for additional information.