Third Quarter 2012 Results John P. Rathbone Executive Vice President Finance and Chief Financial Officer
Operating Results Third Quarter 2012 vs. 2011 ($ Millions) Third Qtr Third Qtr (Unfavorable) 2012 2011 $ % Railway operating revenues $ 2,693 $ 2,889 $ (196) (7%)
Operating Results Third Quarter 2012 vs. 2011 ($ Millions) Third Qtr Third Qtr (Unfavorable) 2012 2011 $ % Railway operating revenues $ 2,693 $ 2,889 $ (196) (7%) Railway operating expenses 1,962 1,951 (11) (1%) Income from railway operations $ 731 $ 938 $ (207) (22%) Railway operating ratio 72.9 67.5 (5.4) (8%)
Railway Operating Expense Analysis Third Quarter 2012 vs. 2011 ($ Millions) + $16 + $13 Compensation Fuel and benefits $-- Materials Depreciation Purchased and other services - $6 and rents - $12 Net Increase $11 Million / 1%
Railway Operating Expense Analysis Third Quarter 2012 vs. 2011 ($ Millions) + $16 + $13 Compensation Fuel and benefits $-- Materials Depreciation Purchased and other services - $6 and rents - $12 Net Increase $11 Million / 1%
Railway Operating Expense Analysis Third Quarter 2012 vs. 2011 ($ Millions) + $16 + $13 Compensation Fuel and benefits $-- Materials Depreciation Purchased and other services - $6 and rents - $12 Net Increase $11 Million / 1%
Fuel Expense Analysis Third Quarter 2012 vs. 2011 ($ Millions) + $4 - $10 $385 $379 Third Qtr Higher Lower Third Qtr 2011 Prices Consumption 2012
Railway Operating Expense Analysis Third Quarter 2012 vs. 2011 ($ Millions) + $16 + $13 Compensation Fuel and benefits $-- Materials Depreciation Purchased and other services - $6 and rents - $12 Net Increase $11 Million / 1%
Compensation and Benefits Analysis Third Quarter 2012 vs. 2011 ($ Millions) (Decrease) Increase Incentive and stock compensation $ (19) Employee activity levels (13) Pay rates 13 Pension and post-retirement medical 6 Other 1 Net decrease $ (12)
Other Income - Net Third Quarter 2012 vs. 2011 ($ Millions) (Unfavorable) Third Qtr Third Qtr Favorable 2012 2011 $ % (28) Gains on the sale of property $ 2 $ 30 $ (93%) Coal royalties (22%) 18 23 (5) Corporate-owned life insurance 10 -- 8 (2) All other 5 9 (4) (44%) Other income - net $ 33 $ 60 $ (27) (45%) Interest expense on debt $ $ $ (10) 124 114 (9%)
Income Before Income Taxes Third Quarter ($ Millions) Change vs. Prior Period: - 28% $884 $640 2011 2012
Income Taxes Third Quarter ($ Millions) Change vs. Prior Period: - 28% $330 $238 2011 2012
Net Income and Diluted Earnings per Share Third Quarter ($ Millions except per share) Net Income Diluted Earnings per Share Change vs. Prior Period: - 27% Change vs. Prior Period: - 22% $554 $1.59 $402 $1.24 2011 2012 2011 2012
Cash Flows and Related Balances First Nine Months 2012 vs. 2011 ($ Millions) Source 2012 2011 (Use) Cash from operating activities $ 2,476 $ 2,764 $ (288) Property additions 1,522 1,433 (89) *Free cash flow $ 954 $ 1,331 $ (377) Proceeds from borrowings – net $ 1,291 $ 396 $ 895 Share repurchases 1,150 1,611 461 Dividends 467 432 (35) Debt repayments 358 592 234 *Please see reconciliation to GAAP posted on our web site.
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