STB Ralroad Economic Data Content:

SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
(000 OMITTED)
QUARTER ENDED MARCH 31
Net
Railway Railway Revenue
Operating Operating Net Ton-Miles
Revenues Income Income Of Freight
Railroad Year (1)
TOTAL ALL CLASS I 1997 $8,230,874 $927,289 $625,468 342,724,068
FREIGHT RR'S (1)............ 1996 8,029,882 900,844 801,425 329,312,861
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BNSF 1997 2,034,718 202,667 186,737 107,345,400
1996 2,027,720 234,986 222,370 101,578,000
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CONRAIL 1997 877,650 120,150 59,698 23,271,385
1996 861,363 53,402 28,713 22,958,721
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CSX 1997 1,247,519 156,515 131,166 41,270,000
1996 1,195,093 117,720 107,276 39,583,000
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GTW 1997 93,740 9,892 8,720 2,611,177
1996 90,885 (1,601) 4,537 2,454,511
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IC 1997 154,237 38,665 31,857 5,933,574
1996 162,610 36,508 30,166 5,945,952
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KCS 1997 120,570 13,809 4,023 4,440,036
1996 123,297 15,418 1,984 4,480,910
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NS 1997 1,046,003 214,103 127,199 33,340,127
1996 1,016,671 169,900 162,266 32,420,873
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SOO 1997 150,899 4,067 (927) 6,007,369
1996 176,298 27,841 21,411 6,694,832
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UP 1997 2,505,538 167,421 76,995 118,505,000
1996 2,375,945 246,670 222,702 113,196,062
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12 MONTHS ENDED MARCH 31
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Net Return
Railway Railway Revenue On Net
Operating Operating Net Ton-Miles Investment
Revenues Income Income Of Freight (%)
(1) (2)
TOTAL ALL CLASS I $32,924,736 $4,397,458 $3,734,384 1,351,208,978 8.92%
FREIGHT RR'S (1)............ 32,291,465 2,945,255 2,547,100 1,309,417,480 6.20%
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BNSF 8,208,593 1,034,663 973,506 414,933,400 8.14%
8,170,939 565,109 482,776 400,758,011 4.86%
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CONRAIL 3,613,535 493,825 366,478 95,082,790 9.52%
3,581,368 317,075 231,950 92,667,005 6.15%
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CSX 4,961,499 647,282 601,366 161,804,000 9.05%
4,819,759 413,614 401,770 159,136,800 6.02%
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GTW 380,813 29,822 (1,345) 9,636,171 15.00%
329,169 (164,533) (160,915) 8,867,401 -122.90%
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IC 609,233 145,399 130,338 22,119,267 14.56%
639,622 150,651 115,813 23,950,221 16.01%
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KCS 488,908 64,109 19,016 18,133,731 7.17%
499,840 64,803 5,147 18,650,264 6.47%
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NS 4,130,370 831,928 731,245 131,365,947 12.67%
4,029,326 721,906 709,805 128,473,574 11.41%
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SOO 643,562 158,847 139,152 23,996,410 19.92%
691,970 (135,770) (169,709) 25,639,532 -20.50%
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UP 9,888,223 991,583 774,628 474,137,262 6.70%
9,529,472 1,012,400 930,463 451,274,672 6.85%
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SOURCES OF DATA:
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Railway Operating Revenues, Net Railway Operating Income, and Net Income are from the
"Quarterly Report of Revenues, Expenses, and Income - Railroads (Form RE&I).
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Revenue Ton Miles of Freight are from the "Quarterly Condensed Balance Sheet - Railroads
(Form CBS).
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NOTES:
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(1) Net Railway Operating Income is the difference between railway operating revenues and the
total of railway operating expenses, railway tax accruals, and net equipment and joint
facility rents.
(2) Return on Net Investment (ROI) is the ratio of net railway operating income to net investment in
railway property used in transportation services at end of previous calendar year. The latter
includes an allowance for working capital. Accumulated deferred income tax reserves are
are subtracted from the net investment base. Since net investment figures are only available
on an end-of-year basis from the Annual Report Form R-1's, filed on March 31 of each year,
the net investment bases used to compute returns on net investment in this report are the most
recent year-end figures available (data as of the end of 1996 and 1995).
-
ROI's, as computed by the Board for its annual determination of the revenue adequacy of each
Class I railroad, will differ from the ROI's computed for this report. ROI's for the revenue
adequacy determination are based upon the average of the beginning and end-of-year net
investment bases, while ROI's for this report are based on end-of-year data only. Also, ROI's
for revenue adequacy determinations are computed using data reported by the class I railroads
in Annual Report Form R-1, Schedule 250, "Consolidated Information for Revenue Adequacy
Determination." The data contained in Schedule 250 differ somewhat from the data in the Form
RE&I, and are therefore not totally compatible.