1  /  CP 2018 ANNUAL REPORT PART I Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 28 Item 6. Selected Financial Data 30 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 65 Item 8. Financial Statements and Supplementary Data 66 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 117 Item 9A. Controls and Procedures 117 Item 9B. Other Information 119 CANADIAN PACIFIC RAILWAY LIMITED FORM 10-K TABLE OF CONTENTS PART II Item 1. Business 3 Item 1A. Risk Factors 17 Item 1B. Unresolved Staff Comments 19 Item 2. Properties 20 Item 3. Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 Executive Officers of the Registrant 25 Page PART III PART IV Item 10. Directors, Executive Officers and Corporate Governance 121 Item 11. Executive Compensation 121 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 121 Item 13. Certain Relationships and Related Transactions, and Director Independence 121 Item 14. Principal Accounting Fees and Services 121 Item 15. Exhibits, Financial Statement Schedule 123 Signatures 129