Canadian National Railway pany(CNI) - 2025 Q3 - Quarterly Report

M A N A G E M E N T'S D I S C U S S I O N A N D A N A LY S I S C o n t e n t s | Forward-looking statements | 33 | | --- | --- | | Introduction | 34 | | Quarterly highlights | 34 | | 2025 Business outlook and assumptions | 35 | | Financial highlights | 36 | | Results of operations | 37 | | Non-GAAP measures | 38 | | Re venues | 42 | | Operating expenses | 47 | | Other income and expenses | 48 | | Summary of quarterly financial data | 49 | | Liquidity and capital resources | 49 | | Off balance sheet arrangem ...