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Economic Data

The Surface Transportation Board collects a series of economic data for regulatory purposes and to monitor the financial health of the freight railroad industry.  Descriptions of the data collected by the Board and links to the data are provided below.  Such data has been divided into two categories:

Data that the Board issues in regulatory proceedings

  • Revenue Deflators
  • Revenue Shortfall Allocation Methodology Figures
  • Cost of Capital Figures
  • Revenue Adequacy Figures

Data that is submitted by the railroads and posted by the Board

  • Annual R-1 Reports
  • Revenues & Earnings
  • Carloads & Volumes
  • Employment & Wage
  • Fuel Surcharges

Note that this page does not contain information regarding the following three items, as there are separate pages devoted to those topics:

Rail Cost Adjustment Factor        Uniform Rail Costing System        Carload Waybill Sample

Need Assistance:  Blank versions of these forms are provided below, as well as a table showing the due dates for the various required reports.  For questions about the data displayed on this page, please contact the Office of Economics at .

Data Issued in Regulatory Proceedings

For regulatory purposes, the Board categorizes rail carriers into three classes: Class I, Class II, and Class III. The classes are based on the carrier’s annual operating revenues. Current thresholds establish Class I carriers as any carrier earning revenue greater than $1.032 billion, Class II carriers as those earning revenue between $46.3 million and $1.032 billion, and Class III carriers as those earning revenue less than $46.3 million. See 49 C.F.R. § 1201 (1-1 Classification of Carriers).

To account for inflation, the Board each year calculates Deflator Factors to adjust railroad annual operating revenues to 2019 levels. The railroad revenue deflator formula is based on the Railroad Freight Price Index developed by the Bureau of Labor Statistics. The formula is as follows:

Current Year’s Revenues × (2019 Average Index/Current Year’s Average Index).

Using the deflator factors, the Board can determine the annual revenue threshold for classification purposes.  For 2022, the most recent year for which deflator factors have been calculated, the figures are provided below:

  • Deflator Factor: 0.8721
  • Threshold for Class I carriers:  $1,032,002,719
  • Threshold for Class II carriers:  $46,325,455

For years 2009 to 2016, the Board published the annual deflator factors in the Federal Register, but not in a formal agency docket.  Beginning with year 2017, the Board begin publishing the deflator factors in Indexing the Annual Operating Revenues of Railroads, Docket No. EP 748.  To view the deflator factors and thresholds for prior years, click here.

Data Submitted by Railroads

Class I railroads are required to file an Annual Report of Finances and Operations, known as the R-1, that contains information about their finances and operating statistics.  49 U.S.C. § 11145(b)(1) & 49 C.F.R. § 1241.11.  Each Class I railroad is required to submit a report from an independent accountant stating that specified data in the railroad’s R-1 have been examined, using agreed-upon procedures, and have been found to be in compliance with the Uniform System of Accounts for Railroad Companies, 49 C.F.R. Part 1201See Certification of Railroad Annual Report R-1 By Independent Accountant, 1 I.C.C.2d 902, Docket No. EP 460 (October 11, 1985).  To review the current certification procedures, click here.

Within the R-1 reports is a section titled Schedule 250.  This schedule is used to develop rate of return on net investment (ROI) for use in revenue adequacy determinations.  A railroad is considered revenue adequate under 49 U.S.C. § 10704(a) if it achieves a ROI equal to at least the current cost of capital for the railroad industry.  More information on the concept of revenue adequacy is available under the “Revenue Adequacy” tab above.

The Annual R-1 Reports and Schedules 250 for all Class I railroads are available here.

 Due Dates and Blank Forms

Form R-1 March 31 of the Following Year Form R-1 (EXCEL) Form R-1 (PDF)
Form R-1 Sched. 250 April 30 of the Following Year Part of R-1 form Part of R-1 Form
Form STB-54 (Carload Loaded & Terminated) 90 Days After End of Year Form STB-54 (EXCEL) Form STB-54 (PDF)
Quarterly Revenue, Expenses & Income (REI) 30 Days After Close of Quarter Form RE&I (EXCEL) Form RE&I (PDF)
Quarter Condensed Balance Sheet (CBS) 30 Days After Close of Quarter Form CBS (EXCEL) Form CBS (PDF)
Quarterly Commodity Statistics (QCS) 60 Days After End of Quarter Form QCS (EXCEL) Form QCS (PDF)
Annual Commodity Statistics 60 Days After End of Year Same as Quarterly QCS Form Same as Quarterly QCS Form
Annual Wage Form A & B 45 Days After End of Year Wage Form A&B (EXCEL) Wage Form A&B (PDF)
Quarterly Wage Form A & B 30 Days After End of Quarter Same as Annual Wage Form A&B Same as Annual Wage Form A&B
Fuel Cost, Consumption, & Surcharge 30 Days After End of Quarter Quarterly Fuel Report (EXCEL) Quarterly Fuel Report (PDF)
Employment Form C 15 Days After End of Month Form C (EXCEL) Form C (PDF)
Annual Report of Tare Weight Data No later than May 31 Form Tare Weight (EXCEL)
Form Tare Weight Consolidated (EXCEL)
Form Tare Weight (PDF)
Form Tare Weight Consolidated (PDF)
Annual Report of Loss and Damage Data No later than May 31 Form Loss & Damage (EXCEL)
Form Loss & Damage Consolidated (EXCEL)
Form Loss & Damage (PDF)
Form Loss & Damage Consolidated (PDF)