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SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
(000 OMITTED)
QUARTER ENDED JUNE 30
Net
Railway Railway Revenue
Operating Operating Net Ton-Miles
Revenues Income Income Of Freight
Railroad Year (Note 1)
TOTAL ALL CLASS I 2000 8,506,873 1,066,170 687,188 359,708,893
FREIGHT RR'S 1999 8,383,927 809,452 501,098 351,392,282
-
Burlington Northern - Santa Fe 2000 2,233,146 326,834 257,128 119,680,005
1999 2,187,779 333,677 257,513 120,192,132
-
Consolidated Rail Corp. 2000 0 0 0 0
(See Note Below) 1999 718,887 (38,959) (64,297) 16,033,518
-
CSX Transportation 2000 1,547,954 73,011 22,917 52,561,000
(See Note Below) 1999 1,333,378 82,067 35,638 44,372,800
-
Grand Trunk Western 2000 93,937 13,218 10,403 2,779,749
1999 85,867 20,282 20,421 2,524,651
-
Illinois Central 2000 170,738 30,223 19,003 6,105,718
1999 160,365 30,234 24,743 5,795,373
-
Kansas City Southern 2000 132,323 19,970 10,836 5,056,025
1999 135,307 16,026 8,959 5,427,700
-
Norfolk Southern 2000 1,578,347 225,413 114,126 50,572,103
(See Note Below) 1999 1,193,627 33,942 16,059 36,644,273
-
Soo Line 2000 125,874 5,180 (10,816) 5,127,293
1999 122,291 (161) (3,959) 4,705,835
-
Union Pacific 2000 2,624,554 372,321 263,591 117,827,000
1999 2,446,426 332,344 206,021 115,696,000
-
Norfolk Southern and CSX formally began to exercise operating control over Conrail on June 1, 1999. Thus, there are no reported numbers for Conrail after that date. Norfolk Southern and CSX results for this quarter include former Conrail operations. 1999 results for Conrail are shown separately and are not included with those for Norfolk Southern and CSX.

12 MONTHS ENDED JUNE 30

Net Return
Railway Railway Revenue On Net
Operating Operating Net Ton-Miles Investment
Revenues Income Income Of Freight (%)
Railroad Year (1) (Note 2) (Note 2)
TOTAL ALL CLASS I 2000 33,738,557 3,944,160 2,764,650 1,460,524,839 5.92%
FREIGHT RR'S ............ 1999 33,492,543 3,839,100 2,785,267 1,397,776,939 6.55%

Burlington Northern - Santa Fe 2000 9,182,538 1,480,848 1,243,344 494,686,291 9.48%
1999 8,970,236 1,449,350 1,146,459 473,858,359 9.63%
-
Consolidated Rail Corp. 2000 0 0 0 0 0.00%
(See Note Below) 1999 3,507,332 170,440 132,393 91,364,712 3.03%
-
CSX Transportation 2000 6,055,502 252,339 103,630 208,940,400 2.40%
(See Note Below) 1999 5,087,272 487,777 268,333 172,503,000 6.23%
-
Grand Trunk Western 2000 359,059 80,349 71,160 11,018,188 24.09%
1999 338,286 4,874 9,183 9,547,686 1.77%
-
Illinois Central 2000 697,664 94,877 61,074 25,712,287 8.30%
1999 643,769 128,611 109,763 23,636,322 11.96%
-
Kansas City Southern 2000 542,399 64,562 24,533 21,728,500 7.24%
1999 546,598 71,428 44,736 21,918,497 8.28%
-
Norfolk Southern 2000 6,043,714 507,955 251,444 195,657,543 4.34%
(See Note Below) 1999 4,300,240 522,417 512,156 135,156,962 7.25%
-
Soo Line 2000 550,249 55,448 32,204 21,693,630 5.38%
1999 538,089 39,312 25,807 19,990,401 3.87%
-
Union Pacific 2000 10,307,432 1,407,782 977,261 481,088,000 7.11%
1999 9,560,721 964,891 536,437 449,801,000 4.90%
Norfolk Southern and CSX formally began to exercise operating control over Conrail on June 1, 1999. Thus, there are no reported numbers for Conrail after that date. Norfolk Southern and CSX results for this quarter include former Conrail operations. 1999 results for Conrail are shown separately and are not included with those for Norfolk Southern and CSX.

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 1999 and 1998).
-
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.

SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
(000 OMITTED)
		QUARTER ENDED JUNE 30
			Net
		Railway	Railway		Revenue
		Operating	Operating	Net	Ton-Miles
		Revenues	Income	Income	Of Freight
Railroad	Year		(Note 1)
TOTAL ALL CLASS I	2000	8,506,873	1,066,170	687,188	359,708,893
FREIGHT RR'S	1999	8,383,927	809,452	501,098	351,392,282
-
Burlington Northern - Santa Fe	2000	2,233,146	326,834	257,128	119,680,005
Burlington Northern - Santa Fe	1999	2,187,779	333,677	257,513	120,192,132
-
Consolidated Rail Corp.	2000	0	0	0	0
(See Note Below)	1999	718,887	(38,959)	(64,297)	16,033,518
-
CSX Transportation	2000	1,547,954	73,011	22,917	52,561,000
(See Note Below)	1999	1,333,378	82,067	35,638	44,372,800
-
Grand Trunk Western	2000	93,937	13,218	10,403	2,779,749
	1999	85,867	20,282	20,421	2,524,651
-
Illinois Central	2000	170,738	30,223	19,003	6,105,718
	1999	160,365	30,234	24,743	5,795,373
-
Kansas City Southern	2000	132,323	19,970	10,836	5,056,025
	1999	135,307	16,026	8,959	5,427,700
-
Norfolk Southern	2000	1,578,347	225,413	114,126	50,572,103
(See Note Below)	1999	1,193,627	33,942	16,059	36,644,273
-
Soo Line	2000	125,874	5,180	(10,816)	5,127,293
	1999	122,291	(161)	(3,959)	4,705,835
-
Union Pacific	2000	2,624,554	372,321	263,591	117,827,000
	1999	2,446,426	332,344	206,021	115,696,000
-
Norfolk Southern and CSX formally began to exercise operating control over Conrail on June 1, 1999. Thus, there are no reported numbers for Conrail after that date. Norfolk Southern and CSX results for this quarter include former Conrail operations. 1999 results for Conrail are shown separately and are not included with those for Norfolk Southern and CSX.

		12 MONTHS ENDED JUNE 30

			Net			Return
		Railway	Railway		Revenue	On Net
		Operating	Operating	Net	Ton-Miles	Investment
		Revenues	Income	Income	Of Freight	(%)
Railroad	Year		(1)		(Note 2)	(Note 2)
TOTAL ALL CLASS I	2000	33,738,557	3,944,160	2,764,650	1,460,524,839	5.92%
FREIGHT RR'S ............	1999	33,492,543	3,839,100	2,785,267	1,397,776,939	6.55%

Burlington Northern - Santa Fe	2000	9,182,538	1,480,848	1,243,344	494,686,291	9.48%
	1999	8,970,236	1,449,350	1,146,459	473,858,359	9.63%
-
Consolidated Rail Corp.	2000	0	0	0	0	0.00%
(See Note Below)	1999	3,507,332	170,440	132,393	91,364,712	3.03%
-
CSX Transportation	2000	6,055,502	252,339	103,630	208,940,400	2.40%
(See Note Below)	1999	5,087,272	487,777	268,333	172,503,000	6.23%
-
Grand Trunk Western	2000	359,059	80,349	71,160	11,018,188	24.09%
	1999	338,286	4,874	9,183	9,547,686	1.77%
-
Illinois Central	2000	697,664	94,877	61,074	25,712,287	8.30%
	1999	643,769	128,611	109,763	23,636,322	11.96%
-
Kansas City Southern	2000	542,399	64,562	24,533	21,728,500	7.24%
	1999	546,598	71,428	44,736	21,918,497	8.28%
-
Norfolk Southern	2000	6,043,714	507,955	251,444	195,657,543	4.34%
(See Note Below)	1999	4,300,240	522,417	512,156	135,156,962	7.25%
-
Soo Line	2000	550,249	55,448	32,204	21,693,630	5.38%
	1999	538,089	39,312	25,807	19,990,401	3.87%
-
Union Pacific	2000	10,307,432	1,407,782	977,261	481,088,000	7.11%
	1999	9,560,721	964,891	536,437	449,801,000	4.90%
Norfolk Southern and CSX formally began to exercise operating control over Conrail on June 1, 1999. Thus, there are no reported numbers for Conrail after that date. Norfolk Southern and CSX results for this quarter include former Conrail operations. 1999 results for Conrail are shown separately and are not included with those for Norfolk Southern and CSX.