Chapter 3
Long-Term Assets
140
Canadian National Railway
The long-term asset portion of Canadian National Railway’s Balance Sheet is presented
underneath the current assets section, as shown below.
60
2014 Annual Report
U.S. GAAP
Canadian National Railway Company
Consolidated Balance Sheet
In millions
December 31,
2014
2013
Assets
Current assets
Cash and cash equivalents
$
52
$
214
Restricted cash and cash equivalents
(Note 10)
463
448
Accounts receivable
(Note 6)
928
815
Material and supplies
335
274
Deferred and receivable income taxes
(Note 4)
163
137
Other
125
89
Total current assets
2,066
1,977
Properties
(Note 7)
28,514
26,227
Pension asset
(Note 12)
882
1,662
Intangible and other assets
(Note 8)
330
297
Total assets
$ 31,792
$ 30,163
Liabilities and shareholders’ equity
Current liabilities
Accounts payable and other
(Note 9)
$ 1,657
$ 1,477
Current portion of long-term debt
(Note 10)
544
1,021
Total current liabilities
2,201
2,498
Deferred income taxes
(Note 4)
6,902
6,537
Other liabilities and deferred credits
(Note 11)
704
815
Pension and other postretirement benefits
(Note 12)
650
541
Long-term debt
(Note 10)
7,865
6,819
Shareholders’ equity
Common shares
(Note 13)
3,718
3,795
Additional paid-in capital
(Note 13)
439
220
Accumulated other comprehensive loss
(Note 15)
(2,427)
(1,850)
Retained earnings
11,740
10,788
Total shareholders’ equity
13,470
12,953
Total liabilities and shareholders’ equity
$ 31,792
$ 30,163
See accompanying notes to consolidated financial statements.
On behalf of the Board:
Robert Pace
Claude Mongeau
Director
Director
Below is Canadian National Railway’s Note 7.
Notes t Consolidated Financial Statements
7 Properties
December 31, 2014
December 31, 2013
Depreciation
Accumulated
Accumulated
In millions
rate
Cost depreciation
Net
Cost
depreciation
Net
Properties including capital leases
Track and roadway
(1)
2%
$ 29,995
$ 7,332
$ 22,663
$ 27,833
$ 7,103
$ 20,730
Rolling st ck
5%
5,552
2,107
3,445
5,193
1,894
3,299
Buildings
2%
1,545
560
985
1,392
521
871
Information technology
(2)
11%
1,068
492
576
1,000
455
545
Other
5%
1,549
704
845
1,388
606
782
Total properties including capital leases
$ 39,709
$ 11,195
$ 28,514
$ 36,806
$ 10,579
$ 26,227
Capital leases included in properties
rack and oadway
(3)
$
417
$
63
$
354
$
417
$
58
$
359
Rolling stock
808
292
516
982
358
624
Buildings
109
23
86
109
21
88
Other
108
29
79
102
22
80
Total capital leases included in properties
$ 1,442
$
407
$ 1,035
$ 1,610
$ 459
$ 1,151
(1) Includes $2,079 million and $1,911 million of land as at December 31, 2014 and December 31, 2013, respectively.
(2) The Company capitalized $102 million in 2014 and $85 million in 2013 of internally developed software costs pursuant to FASB ASC 350-40, Intangibles – Goodwill and Other, Internal – Use
Software.
(3) Includes $108 million of right-of-way access in both years.
8 Intangible and other assets
In millions
December 31,
2014
2013
Deferred and long-term receivables
$
141
$
109
Intangible assets
62
59
Investments
(1) (2)
58
57
9 Accounts payable and other
In millions
December 31,
2014
2013
Trade payables
$
464
$
408
Payroll-related accruals
317
351
Income and other taxes
208
96
