STB Ralroad Economic Data Content:

SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
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CLASS I FREIGHT RAILROAD SELECTED EARNINGS DATA
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(000 OMITTED)
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QUARTER ENDED SEPTEMBER 30
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Net
Railway Railway Revenue
Operating Operating Net Ton-Miles
Revenues Income Income Of Freight
Railroad Year (1)
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TOTAL ALL CLASS I 1997 8,315,242 1,193,729 1,108,424 335,766,087
FREIGHT RR'S (1)............ 1996 8,165,136 1,199,761 1,072,303 334,590,800
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Burlington Northern - Santa Fe 1997 2,144,748 345,527 314,562 106,129,000
1996 2,043,472 284,048 276,849 101,273,000
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Consolidated Rail Corp. 1997 913,395 120,990 101,162 24,831,340
1996 900,883 161,167 136,483 24,037,608
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CSX Transportation 1997 1,214,645 140,482 136,624 40,345,300
1996 1,210,930 146,731 132,820 39,133,000
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Grand Trunk Western 1997 82,409 3,480 3,939 2,248,612
1996 90,020 17,052 9,225 2,243,125
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Illinois Central 1997 152,833 33,977 30,785 5,228,324
1996 150,822 36,820 30,194 4,987,904
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Kansas City Southern 1997 128,125 18,430 8,044 4,767,820
1996 125,545 20,510 7,263 4,675,897
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Norfolk Southern 1997 1,047,999 213,969 205,150 33,790,335
1996 1,020,201 213,563 208,205 32,812,911
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Soo Line 1997 137,429 23,759 16,285 5,006,356
1996 161,349 27,244 21,649 5,919,714
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Union Pacific 1997 2,493,659 293,115 291,873 113,419,000
1996 2,461,914 292,626 249,615 119,507,641




12 MONTHS ENDED SEPTEMBER 30
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Net Return
Railway Railway Revenue On Net
Operating Operating Net Ton-Miles Investment
Revenues Income Income Of Freight (%)
(1) (2)
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TOTAL ALL CLASS I 33,208,219 4,235,638 3,580,147 1,355,941,204 8.59%
FREIGHT RR'S (1)............ 32,583,434 3,417,853 3,011,361 1,329,295,831 7.19%
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Burlington Northern - Santa Fe 8,342,965 1,132,233 1,044,493 421,745,400 8.91%
8,194,672 660,224 605,797 406,123,704 5.67%
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Consolidated Rail Corp. 3,600,976 195,213 68,904 95,514,822 3.76%
3,607,703 240,958 157,528 94,201,617 4.68%
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CSX Transportation 4,963,432 660,724 611,968 163,680,000 9.24%
4,883,437 571,275 550,654 159,863,400 8.31%
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Grand Trunk Western 381,261 (2,494) 413 9,684,095 -1.25%
345,834 29,965 12,935 9,449,408 22.38%
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Illinois Central 609,397 146,363 134,389 22,068,863 14.66%
622,258 151,809 128,251 21,990,184 16.14%
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Kansas City Southern 495,616 59,474 20,118 18,559,063 6.65%
495,802 71,776 16,504 18,228,183 7.17%
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Norfolk Southern 4,187,086 840,539 738,034 134,007,137 12.80%
4,075,067 757,839 736,368 130,028,360 11.97%
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Soo Line 592,562 185,407 176,570 21,947,618 23.25%
688,110 (126,672) (149,424) 25,401,917 -19.12%
Union Pacific 10,034,924 1,018,179 785,258 468,734,206 6.88%
9,670,551 1,060,679 952,748 464,009,058 7.17%


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.
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(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. 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 1996 and 1995).
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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.