← CANADIAN NATIONAL RAILWAY CO

Annual Trend FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — $5.1b $5.6b $4.4b $4.7b
Net Income (Loss) Attributable to Parent — $5.1b $5.6b $4.4b $4.7b
Depreciation, Depletion and Amortization — $1.7b $1.8b $1.9b $1.9b
Depreciation, Depletion and Amortization — $1.7b $1.8b $1.9b $1.9b
Depreciation — $1.7b $1.8b $1.9b $1.9b
Depreciation Amortization Depletion — $1.7b $1.8b $1.9b $1.9b
Deferred Income Tax Expense (Benefit) — — ($288.0m) $325.0m $334.0m
Deferred Income Tax — $404.0m ($288.0m) $325.0m $334.0m
Deferred Tax — $404.0m ($288.0m) $325.0m $334.0m
Payment, Tax Withholding, Share-based Payment Arrangement — — $51.0m $52.0m $9.0m
Share-based Payment Arrangement, Expense — — $64.0m $74.0m $106.0m
Gain (Loss) on Disposition of Property Plant Equipment — — $129.0m $0 $0
Income Tax Expense (Benefit) — — $863.0m $1.4b $1.5b
Interest Expense Nonoperating — — $722.0m $891.0m $913.0m
Other Nonoperating Income (Expense) — — $134.0m $42.0m $88.0m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable — — ($71.0m) ($205.0m) ($92.0m)
Environmental Remediation Expense — — $32.0m $47.0m $48.0m
Equity Securities, FV-NI, Gain (Loss) — — $0 $0 —
Foreign Currency Transaction Gain (Loss), before Tax — — $7.0m $12.0m $32.0m
Goodwill — — $70.0m $71.0m $100.0m
Nonoperating Income (Expense) — — $134.0m $42.0m $88.0m
Operating Expenses — — — — —
Proceeds from Stock Options Exercised — — $49.0m $41.0m $56.0m
Beginning Cash Position — $1.3b $834.0m $924.0m $401.0m
Cash Flow From Continuing Financing Activities — ($4.7b) ($3.4b) ($3.6b) ($3.4b)
Cash Flow From Continuing Investing Activities — ($2.5b) ($3.5b) ($3.6b) ($3.7b)
Change In Account Payable — ($9.0m) ($191.0m) ($107.0m) $220.0m
Change In Inventory — ($82.0m) ($18.0m) ($6.0m) ($24.0m)
Change In Other Current Assets — ($30.0m) $85.0m $0 ($123.0m)
Change In Payable — ($9.0m) ($191.0m) ($107.0m) $220.0m
Change In Payables And Accrued Expense — ($9.0m) ($191.0m) ($107.0m) $220.0m
Change In Receivables — ($290.0m) $71.0m $205.0m $92.0m
Change In Working Capital — ($411.0m) ($53.0m) $92.0m $165.0m
Changes In Account Receivables — ($290.0m) $71.0m $205.0m $92.0m
Changes In Cash — ($510.0m) $91.0m ($528.0m) ($35.0m)
End Cash Position — $834.0m $924.0m $401.0m $363.0m
Financing Cash Flow — ($4.7b) ($3.4b) ($3.6b) ($3.4b)
Free Cash Flow — $3.9b $3.8b $3.1b $3.4b
Gain Loss On Sale Of PPE — $0 ($129.0m) $0 $0
Investing Cash Flow — ($2.5b) ($3.5b) ($3.6b) ($3.7b)
Net Business Purchase And Sale — $0 ($390.0m) $0 $0
Net PPE Purchase And Sale — ($2.8b) ($3.1b) ($3.5b) ($3.7b)
Operating Gains Losses — ($387.0m) ($547.0m) ($307.0m) ($410.0m)
Other Non Cash Items — $214.0m $411.0m $249.0m $302.0m
Pension And Employee Benefit Expense — ($387.0m) ($418.0m) ($385.0m) ($410.0m)
Proceeds From Stock Option Exercised — $37.0m $45.0m $36.0m $51.0m
Purchase Of Business — $0 ($390.0m) $0 $0
Purchase Of PPE — ($2.8b) ($3.2b) ($3.5b) ($3.7b)
Repurchase Of Capital Stock — ($4.8b) ($4.6b) ($2.6b) ($2.1b)
Sale Of Business $886.0m $0 $0 — —
Sale Of PPE — $0 $129.0m $0 $0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax — — — — —
Net Cash Provided by (Used in) Operating Activities — $6.7b $7.0b $6.7b $7.0b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment — ($2.8b) $3.2b $3.5b $3.7b
Payments to Acquire Businesses, Net of Cash Acquired — — $390.0m $0 $0
Gain (Loss) on Sale of Investments — — — — —
Payments for (Proceeds from) Other Investing Activities — — $20.0m $58.0m $55.0m
Net Other Investing Changes — $240.0m ($20.0m) ($58.0m) ($55.0m)
Net Cash Provided by (Used in) Investing Activities — — ($3.5b) ($3.6b) ($3.7b)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — — $2.6b $3.5b $2.0b
Issuance Of Debt — $14.1b $18.2b $23.7b $27.4b
Long Term Debt Issuance — $1.9b $2.6b $3.5b $2.0b
Net Issuance Payments Of Debt — $2.1b $3.2b $1.1b $907.0m
Net Long Term Debt Issuance — $1.5b $2.3b $2.4b $1.5b
Net Short Term Debt Issuance — $563.0m $908.0m ($1.4b) ($612.0m)
Short Term Debt Issuance — $12.2b $15.6b $20.2b $25.5b
Repayments of Long-term Debt — — $250.0m $1.0b $446.0m
Long Term Debt Payments — ($383.0m) ($250.0m) ($1.0b) ($446.0m)
Repayment Of Debt — ($12.1b) ($15.0b) ($22.7b) ($26.5b)
Short Term Debt Payments — ($11.7b) ($14.7b) ($21.6b) ($26.1b)
Net Common Stock Issuance — ($4.8b) ($4.6b) ($2.6b) ($2.1b)
Payments for Repurchase of Common Stock — — $4.6b $2.6b $2.1b
Payments of Ordinary Dividends, Common Stock — — $2k $2k $2k
Common Stock Payments — ($4.8b) ($4.6b) ($2.6b) ($2.1b)
Cash Dividends Paid — ($2.0b) ($2.1b) ($2.1b) ($2.2b)
Common Stock Dividend Paid — ($2.0b) ($2.1b) ($2.1b) ($2.2b)
Proceeds from (Payments for) Other Financing Activities — — ($28.0m) ($50.0m) ($56.0m)
Net Other Financing Charges — $35.0m ($13.0m) $68.0m ($6.0m)
Net Cash Provided by (Used in) Financing Activities — — ($3.4b) ($3.6b) ($3.4b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — ($1.0m) $5.0m ($3.0m)
Effect Of Exchange Rate Changes — $3.0m ($1.0m) $5.0m ($3.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — $90.0m ($523.0m) ($38.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $924.0m $401.0m $363.0m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — ($507.0m) $90.0m ($523.0m) ($38.0m)
Interest Paid, Excluding Capitalized Interest, Operating Activities — $542.0m $776.0m $926.0m $979.0m
Income Taxes Paid, Net — $1.3b $1.2b $1.2b $935.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.