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Rail Transportation : Financial, Accounting and Costing Matters![](/web/20061210174427im_/http://www.cta-otc.gc.ca/images/common/spacer.gif)
Agency Approved Cost of Capital Rates: For Regulatory Purposes Other Than Grain and Interswitching Rates
Canadian National Railway Company (CN)
|
Long-Term Debt |
Deferred Taxes |
Common Equity |
Cost of Capital |
Year |
Rate |
Rate |
Pre-Tax |
Pre-Tax Weighted Rate
|
2000 |
7.73% |
0.00% |
18.33% |
11.87% |
2001 |
7.68% |
0.00% |
15.22% |
11.95% |
2002 |
7.13% |
0.00% |
12.50% |
9.94% |
2003 |
5.95% |
0.00% |
11.66% |
9.12% |
2004 |
5.95% |
0.00% |
10.78% |
8.24% |
2005 |
5.46% |
0.00% |
10.04% |
7.75% |
Canadian Pacific Railway Company (CPR)
|
Long-Term Debt |
Deferred Taxes |
Common Equity |
Cost of Capital |
Year |
Rate |
Rate |
Pre-Tax |
Pre-Tax Weighted Rate
|
2000 |
8.42% |
0.00% |
18.14% |
11.82% |
2001 |
8.79% |
0.00% |
15.39% |
11.44% |
2002 |
8.01% |
0.00% |
13.39% |
10.07% |
2003 |
6.78% |
0.00% |
11.84% |
8.76% |
2004 |
6.43% |
0.00% |
11.26% |
8.42% |
2005 |
5.58% |
0.00% |
10.58% |
7.78% |
|