Agency-approved cost of capital rates for other regulatory purposes

Canadian National Railway Company (CN)
YearLong-Term Debt
Rate
Deferred Taxes
Rate
Common Equity
Pre-Tax
Cost of Capital
Pre-Tax Weighted Rate
20154.54%0.00%9.04%5.44%
20144.42%0.00%9.56%5.86%
20134.72%0.00%9.36%6.25%
20124.87%0.00%8.50%6.04%
20115.32%0.00%9.51%6.88%
20105.37%0.00%7.10%5.45%
20095.10%0.00%7.49%5.69%
20085.39%0.00%10.82%6.88%
20075.62%0.00%11.45%8.27%
20065.61%0.00%11.51%8.75%
20055.46%0.00%10.04%7.75%
20045.95%0.00%10.78%8.24%
20035.95%0.00%11.66%9.12%
20027.13%0.00%12.50%9.94%
20017.68%0.00%15.22%11.95%
20007.73%0.00%18.33%11.87%
Canadian Pacific Railway Company (CP)
YearLong-Term Debt
Rate
Deferred Taxes
Rate
Common Equity
Pre-Tax
Cost of Capital
Pre-Tax Weighted Rate
20155.33%0.00%11.17%7.47%
20145.34%0.00%11.29%7.48%
20135.40%0.00%11.02%7.37%
20125.88%0.00%10.18%7.32%
20115.43%0.00%11.10%7.76%
20105.59%0.00%7.83%6.00%
20095.98%0.00%8.04%6.33%
20085.74%0.00%9.83%7.53%
20075.40%0.00%12.32%9.14%
20065.50%0.00%11.16%8.19%
20055.58%0.00%10.58%7.78%
20046.43%0.00%11.26%8.42%
20036.78%0.00%11.84%8.76%
20028.01%0.00%13.39%10.07%
20018.79%0.00%15.39%11.44%
20008.42%0.00%18.14%11.82%
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