WEEKLY KEY METRICS: FEBRUARY 18, 2017

These measures represent only some of the indicators of railroad performance.

2,685M

Revenue ton miles

Feb 11, 2017: 2,573M
Feb 4, 2017: 2,7321M

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49,830 Cars

weekly carloads

Feb 11, 2017: 48,188
Feb 4, 2017: 50,551

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21.9 MPH

AVG Train speed

Feb 10, 2017: 21.5 MPH
Feb 3, 2017: 22.5 MPH

 

7.1 HRS

AVG Terminal dwell

Feb 10, 2017: 7.5 HRS
Feb 3, 2017: 7.2 HRS

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Weekly RTMs vs. Prior Year

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CP reports carload data on a weekly basis to the Association of American Railroads (AAR). The links above contain the carload data provided to the AAR as well as the same data re​organized to reflect the line of business categories used by CP for financial reporting purposes (including total RTMs).

Carload and RTM data is published every Monday by 2pm Eastern Time.

CP reports train speed, terminal dwell and cars on-line on a weekly basis. We would note that the definitions CP uses to calculate these performance measures are not directly comparable to the definitions used by other Class 1 railroads and/or the AAR. Please refer to the Definitions tab for the details of how CP’s performance metrics differ from the definitions used by the AAR.

These measures represent only some of the indicators of railroad performance. Readers are therefore cautioned not to rely solely on this information as an indication of CP’s overall performance, financial or otherwise, as it may be misleading when viewed in isolation.​

How do AAR Groups relate to CP Line of Business?

AAR Group CP Line of Business
​1 ​Grain Canadian Grain, U.S. Grain
2 Farm Products, Ex. Grain ​Canadian Grain, U.S. Grain
3 Metallic Ores Mines, Metals & Consumer Products
4 Coal Coal
5 Crushed Stone, Gravel and Sand Mines, Metals & Consumer Products
6 Nonmetallic Minerals Fertilizers & sulphur (85%+), Mines, Metals & Consumer Products
7 Grain Mill Products Grain
8 Food and Kindred Products Canadian Grain & US Grain (90%), Mines, Metals & Consumer Products (10%)
9 Primary Forest Products Forest products
10 Lumber and Wood Products Forest products
11 Pulp, Paper, and Allied Products Forest products
12 Chemicals Potash (50%), Chemicals & plastics (40%), Fertilizers & sulphur (10%)
13 Petroleum Products Crude (65%), Chemicals & plastics (35%)
14 Stone, Clay and Glass Products Mines, Metals & Consumer Products
15 Coke Coal
16 Metals and Products Mines, Metals & Consumer Products
17 Motor Vehicles and Equipment Automotive
18 Iron and Steel Scrap Mines, Metals & Consumer Products
19 Waste and Scrap Materials Mines, Metals & Consumer Products (70%), Chemicals & plastics (25%), Forest products (5%)
20 All Other Carloads
21 TC on Chassis Intermodal
21 TC w/o Chassis Intermodal

Definitions

CP uses the following definitions for performance metrics (click icon to learn more)

Train Speed

Train Speed

Train Speed measures the line-haul movement from origin to destination. The average speed is calculated by dividing train-miles by total hours operated, excluding yard and local trains, passenger trains, maintenance of way trains. System-wide average train speeds are given for the following train types:

  • Intermodal
  • Manifest
  • Multilevel
  • Coal Unit
  • Grain Unit
  • All trains

Terminal Dwell (Hours)

Terminal Dwell (Hours)

Terminal Dwell is the average time a car resides within terminal boundaries expressed in hours. The measurement begins with a customer release, received interchange, or train arrival event and ends with a customer placement (actual or constructive), delivered or offered in interchange, or train departure event. This will exclude stored, bad ordered, and maintenance of way cars.

Cars on line

Cars on line

Cars On Line is the average of the daily on-line inventory of freight cars. Articulated cars are counted as a single unit. Cars on private tracks (e.g., at a customer's facility) are counted on the last railroad on which they were located. Maintenance of way cars are excluded.

Cars on Line figures are reported by car type for the following car types:

  • Box -> A,B,R
  • Covered Hopper -> C
  • Gondola -> E,G
  • Intermodal -> P,Q,S
  • Tank -> T
  • Open Top Hopper -> H,J,K
  • Other -> L, F

And by car ownership:

  • System Car:Owned by the railroad on which it is located
  • Foreign RR: Owned by a railroad other than the one on which it is located
  • Private: Owned by a non-railroad (i.e., has a car initial that ends in "X") and not leased to a railroad

Definition Changes

As our company transforms and changes, we continue to look for ways to provide better visibility into the drivers of CP’s performance. Below are some key definition changes that have taken place in recent years.

Employee Counts (Q1 2016)

In Q1 2016, CP amended its definition of "Employees."  CP's prior employee definition reflected only full-time employees who had worked more than 40 hours in a pay period; as our business continues to change and evolve, the company has determined that a better and more fulsome definition should capture all employees regardless of the number of hours worked. 

The definition of workforce – the metric most commonly referenced by management – remains unchanged.

Previous definition - Employee: ​An employee is defined as an individual, including trainees, who has worked more than 40 hours in a standard biweekly pay period. This excludes part time employees, contractors, and consultants.

New definition - Employee: An employee is defined as an individual currently engaged in full-time or part-time employment with CP.

  • Workforce is defined as employees plus contractors and consultants.​

A spreadsheet summarizing the impact to CP's historical employee counts can be found HERE

Revenue Categories (Q2 2014)

To provide the investment community with better visibility into CP’s revenue drivers, in Q2 2014, CP began to breakout its revenue-generating lines of business into more detail:

  • Grain was split into Canadian Grain and US Grain
  • Fertilizers and Sulphur was split into Potash and Fertilizers & Sulphur
  • Industrial Products was split into Crude; Chemicals & Plastics; Metals, Minerals & Consumer Products
  • Intermodal was split into Domestic Intermodal and International Intermodal
  • Coal, Forest Products, and Automotive remain unchanged

A spreadsheet showing the impact of these changes on our historical results can be downloaded HERE

Expense Reclassification (Q2 2014)

Billings to third parties for the recovery of costs incurred for freight car repairs and servicing have been reclassified from “Purchased services and other” to “​Compensation and benefits” and “Materials” in order to match the billings with the costs incurred on behalf of the third parties. Total operating expenses are unchanged as a result of this reclassification.

A spreadsheet showing the impact of these changes on our historical results can be downloaded HERE

Performance Metrics (Q3 2013)

On September 1, 2013 CP updated its definitions for terminal dwell and train speed to better reflect how operational performance is tracked and measured by management.  As a result of these updates, CP’s performance measures are no longer comparable to the metrics reported by other Class 1 railroads on the AAR’s Railroad Performance Measures website.

Train Speed
Updated CP Definition AAR Definition

Train Speed measures the line-haul movement from origin to destination. The average speed is calculated by dividing train-miles by total hours operated, excluding yard and local trains, passenger trains, maintenance of way trains. System-wide average train speeds are given for the following train types:

  • Intermodal
  • Manifest
  • Multilevel
  • Coal Unit
  • Grain Unit
  • All trains

Train Speed measures the line-haul movement between terminals. The average speed is calculated by dividing train-miles by total hours operated, excluding yard and local trains, passenger trains, maintenance of way trains. System-wide average train speeds are given for the following train types:

  • Intermodal
  • Manifest
  • Multilevel
  • Coal Unit
  • Grain Unit
  • All trains
Terminal Dwell
Updated CP Definition AAR Definition

Terminal Dwell is the average time a car resides within terminal boundaries expressed in hours. The measurement begins with a customer release, received interchange, or train arrival event and ends with a customer placement (actual or constructive), delivered or offered in interchange, or train departure event. This will exclude stored, bad ordered, and maintenance of way cars.

CP’s Major Yards:

  • Calgary, AB
  • Chicago, IL
  • Edmonton, AB
  • Montreal, QC
  • Moose Jaw, SK
  • St Paul, MN
  • Thunder Bay, ON
  • Toronto, ON
  • Vancouver, BC
  • Winnipeg, MB

Terminal Dwell is the average time a car resides at the specified terminal location expressed in hours. The measurement begins with a customer release, received interchange, or train arrival event and ends with a customer placement (actual or constructive), delivered or offered in interchange, or train departure event. Cars that move through a terminal on a run-through train are excluded, as are stored, bad ordered, and maintenance of way cars.

CP’s Major Yards:

  • Calgary, AB
  • Chicago, IL
  • Milwaukee, WI
  • Montreal, QC
  • Moose Jaw, SK
  • St. Paul, MN
  • Thunder Bay, ON
  • Toronto, ON
  • Vancouver, BC
  • Winnipeg, MB