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 SEPTEMBER 30
Net
Railway Railway Revenue
Operating Operating Net Ton-Miles
Revenues Income Income Of Freight
Railroad Year (1)
TOTAL ALL CLASS I 1998 8,332,009 870,608 576,888 347,929,146
FREIGHT RR'S (1)............ 1997 8,307,789 1,151,857 1,108,424 335,766,087
Burlington Northern - Santa Fe 1998 2,306,136 415,021 330,653 118,362,204
1997 2,136,366 320,611 314,562 106,129,000
Consolidated Rail Corp. 1998 948,029 (42,604) (63,465) 26,245,050
1997 913,395 120,990 101,162 24,831,340
CSX Transportation 1998 1,201,029 131,837 67,030 41,495,000
1997 1,214,645 140,482 136,624 40,345,300
Grand Trunk Western 1998 73,356 (48,118) (49,052) 2,166,758
1997 82,409 3,480 3,939 2,248,612
Illinois Central 1998 161,422 37,771 30,989 5,784,938
1997 152,833 33,977 30,785 5,228,324
Kansas City Southern 1998 139,344 19,974 13,200 5,431,671
1997 128,125 18,430 8,044 4,767,820
Norfolk Southern 1998 1,048,170 171,155 169,751 33,353,512
1997 1,047,999 213,969 205,150 33,790,335
Soo Line 1998 138,662 15,039 10,631 5,072,013
1997 137,429 23,759 16,285 5,006,356
Union Pacific 1998 2,315,861 170,533 67,151 110,018,000
1997 2,494,588 276,159 291,873 113,419,000
12 MONTHS ENDED SEPTEMBER 30
Net Return
Railway Railway Revenue On Net
Operating Operating Net Ton-Miles Investment
Revenues Income Income Of Freight (%)
Railroad (1) (2)
TOTAL ALL CLASS I 32,991,227 3,461,415 2,565,233 1,367,341,236 6.29%
FREIGHT RR'S (1)............ 33,190,026 4,153,589 3,621,139 1,356,704,839 8.43%
Burlington Northern - Santa Fe 8,870,463 1,318,116 1,160,367 462,332,209 9.59%
8,313,618 1,107,317 1,000,540 421,745,400 8.71%
Consolidated Rail Corp. 3,746,297 348,458 255,468 102,027,548 6.38%
3,613,488 155,036 33,583 96,308,554 2.99%
CSX Transportation 4,975,396 656,429 484,678 168,360,000 8.93%
4,963,432 660,724 611,968 163,680,000 9.24%
Grand Trunk Western 334,780 (44,309) (44,222) 9,705,864 -21.72%
381,261 (2,494) 413 9,653,998 -1.25%
Illinois Central 654,314 156,490 136,011 23,257,215 15.05%
609,397 146,363 134,389 22,068,863 14.66%
Kansas City Southern 554,443 44,718 (78,010) 21,590,166 4.93%
495,616 59,474 20,118 18,559,063 6.65%
Norfolk Southern 4,254,642 731,823 762,774 135,050,316 10.68%
4,187,086 840,539 738,034 134,007,137 12.80%
Soo Line 540,761 59,540 46,560 20,666,918 6.98%
592,562 185,407 176,570 21,947,618 23.25%
Union Pacific 9,060,131 190,150 (158,393) 424,351,000 1.02%
10,033,566 1,001,223 905,524 468,734,206 6.77%
SOURCES OF DATA:
Railway Operating Revenues, Net Railway Operating Income, and Net Income are from the "Quarterly Report of Revenues, Expenses, and Income - Railroads" (Form RE&I).
Revenue Ton Miles of Freight are from the "Quarterly Condensed Balance Sheet - Railroads (Form CBS).
NOTES:
(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 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 1997 and 1996).
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.