Business Context and Reporting Period
This Form 6-K filing by Canadian Pacific Railway Limited and Canadian Pacific Railway Company covers the month of March 2009. The report primarily serves to incorporate the Registrants' Annual Report for the year ended December 31, 2008, by reference. The filing also includes updated earnings coverage ratios for the twelve-month period ended December 31, 2008, and consent letters from PricewaterhouseCoopers LLP dated February 23, 2009.
Key Financial Metrics
The filing text provided does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the incorporated 2008 Annual Report (pages 3 through 109), which is filed separately on Form 40-F. The text explicitly notes the inclusion of "updated earnings coverage ratios" for the twelve-month period ended December 31, 2008, but does not state the specific ratio values.
Material Changes
The filing text does not provide specific data regarding material changes in financial performance compared to prior periods. It references the submission of updated earnings coverage ratios, implying a revision or update to previously reported figures, but the magnitude of any change is not detailed in this document.
Guidance, Outlook, and Risks
The provided text contains no management commentary, forward-looking guidance, specific risk factors, or discussion of contingencies. The document is procedural, focusing on the incorporation of the 2008 Annual Report and audit consents into various Registration Statements (Forms S-8 and F-9).
Investor Verification Checklist
- Verify the specific values for the updated earnings coverage ratios for the twelve-month period ended December 31, 2008, by reviewing Exhibit 99.2.
- Review the full 2008 Annual Report (filed on Form 40-F) for detailed revenue, profit, and balance sheet data, as this Form 6-K only incorporates it by reference.
- Confirm the audit opinion details in the PricewaterhouseCoopers LLP consent letters (Exhibits 99.3 and 99.4) regarding the 2008 financial statements.
- Check the referenced Registration Statements (S-8 Nos. 333-140955, 333-127943, 333-13962, and F-9 No. 333-142347) to understand how the incorporated documents affect outstanding securities offerings.