01—Abstract
Summary
Summary of the 40-F filed March 18, 2003. Cited figures are marked; the original filing is the authoritative source.
Canadian Pacific Railway Limited and Canadian Pacific Railway Company (collectively "Registrants") filed their annual report on Form 40-F for the fiscal year ended December 31, 2002.
This filing serves as their annual report to the U.S. Securities and Exchange Commission, incorporating by reference their audited annual financial statements and Management's Discussion and Analysis (MD&A) from their 2002 Annual Report. Investors should note that this document primarily directs them to these other sections for detailed financial performance and strategic insights.
The company reported that as of December 31, 2002, Canadian Pacific Limited had 158,506,686 common shares issued and outstanding, and Canadian Pacific Railway Company had 347,170,009 ordinary shares issued and outstanding. A key procedural aspect highlighted is the evaluation of disclosure controls and procedures, which management, including the CEO and CFO, concluded were effective as of the reporting period.
02—Key points
Key Highlights
- The filing is a Form 40-F, incorporating by reference the company's 2002 Annual Report, including audited financial statements and MD&A.
- Key financial information is contained within pages 1-58 of the referenced 2002 Annual Report, with specific attention drawn to Note 24 for GAAP reconciliation.
- As of December 31, 2002, Canadian Pacific Limited had 158,506,686 common shares outstanding.
- As of December 31, 2002, Canadian Pacific Railway Company had 347,170,009 ordinary shares outstanding.
- Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective following an evaluation within 90 days of filing.
- No significant changes were made to internal controls or other factors that could affect these controls.
- The filing confirms the company has met its reporting obligations for the preceding 12 months and has been subject to such requirements for the past 90 days.
03—Questions
Frequently Asked Questions
Where can I find the detailed financial performance and analysis for Canadian Pacific for the year ended December 31, 2002?
The detailed financial performance and analysis can be found in the company's 2002 Annual Report, specifically on pages 1 through 19 for Management's Discussion and Analysis (MD&A) and pages 20 through 58 for the audited consolidated financial statements. Note 24 within the financial statements also provides a reconciliation of important differences between Canadian and United States generally accepted accounting principles (GAAP).
What is the significance of the Form 40-F filing?
The Form 40-F is an annual report required by the U.S. Securities and Exchange Commission (SEC) for certain Canadian issuers. For Canadian Pacific Railway Limited and Canadian Pacific Railway Company, this filing incorporates by reference their annual financial statements and MD&A from their home jurisdiction's annual report, making this information available to U.S. investors and the SEC.
What was the company's management's assessment of its internal controls?
Management, including the Chief Executive Officer and Chief Financial Officer, conducted an evaluation of the company's disclosure controls and procedures within 90 days prior to the filing date. They concluded that the design and operation of these controls and procedures were effective. No significant changes were made to internal controls or other factors that could significantly affect these controls during that period.
How many shares of common stock were outstanding for Canadian Pacific at the end of 2002?
At December 31, 2002, Canadian Pacific Limited had 158,506,686 common shares issued and outstanding. Additionally, Canadian Pacific Railway Company had 347,170,009 ordinary shares issued and outstanding.
04—Continue