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1012620_15_item7_p11_s3
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1012620_14_item7_p59_s3
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All remaining traffic increased by a net 3,941 carloads.
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All remaining traffic increased by a net 440 carloads.
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1012620_15_item7_p33_s3
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1012620_14_item7_p59_s3
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1012620_15_item7_p56_s8
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1012620_14_item7_p59_s8
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Average freight revenues per carload were also positively impacted by the changes in the mix of customers within certain commodity groups, primarily coal and coke traffic, metals traffic, waste traffic and other commodities.
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Average freight revenues per carload were also positively impacted by the changes in the mix of customers within certain commodity groups, primarily metallic ores.
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1012620_15_item7_p14_s0
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1012620_14_item7_p5_s0
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The western end encompasses approximately 670 miles of CP's current operations between Tracy, Minnesota and Rapid City, South Dakota; north of Rapid City to Colony, Wyoming; south of Rapid City to Dakota Junction, Nebraska; and connecting branch lines as well as trackage from Dakota Junction to Crawford, Nebraska, currently leased to the Nebraska Northwestern Railroad (NNW).
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RCP E operates approximately 670 miles of rail line between Tracy, Minnesota and Rapid City, South Dakota; north of Rapid City to Colony, Wyoming; south of Rapid City to Dakota Junction, Nebraska; and connecting branch lines as well as trackage from Dakota Junction to Crawford, Nebraska, currently leased to the Nebraska Northwestern Railroad Inc. (NNW).
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1012620_15_item7_p43_s6
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1012620_14_item7_p68_s5
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Purchased services expense, which consists of the costs of services provided by outside contractors for repairs and maintenance of track property, locomotives, freight cars and other equipment as well as contract labor costs for crewing and drayage services, was $80.6 million in the year ended December 31, 2012 , compared with $78.7 million in the year ended December 31, 2011 , an increase of $1.8 million , or 2.3% .
|
Purchased services expense, which consists of the costs of services provided by outside contractors for repairs and maintenance of track property, locomotives, railcars and other equipment, as well as contract labor costs for crewing services, was $98.7 million in the year ended December 31, 2014 , compared with $122.6 million in the year ended December 31, 2013 , a decrease of $23.9 million , or 19.5% .
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1012620_15_item7_p65_s11
|
1012620_14_item7_p69_s1
|
The decrease was primarily due to the sale of our third-party fuel-sales business South Australia in the third quarter of 2012.
|
The decrease in cost of diesel fuel sold to third parties was primarily due to the sale of our third-party fuel-sales business in South Australia in the third quarter of 2012.
| 2 |
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1012620_15_item7_p14_s1
|
1012620_14_item7_p6_s0
|
Customers on the line ship approximately 52,000 carloads annually of grain, bentonite clay, ethanol, fertilizer and other products.
|
Customers on the RCP E ship approximately 63,000 carloads annually of grain, bentonite clay, ethanol, fertilizer and other products.
| 2 |
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1012620_15_item7_p69_s2
|
1012620_14_item7_p72_s0
|
Provision for Income Taxes The $50.1 million mark-to-market expense associated with the contingent forward sale contract included in our income before income taxes for the year ended December 31, 2012 is a non-deductible expense for income tax purposes.
|
Included in our income before income taxes and income from equity investment for the year ended December 31, 2012 was a $50.1 million mark-to-market expense associated with a contingent forward sale contract, which is a non-deductible expense for income tax purposes.
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1012620_15_item7_p65_s11
|
1012620_14_item7_p75_s10
|
The $6.1 million decrease in fuel sales to third parties was primarily due to the sale of our third-party fuel-sales business in South Australia in the third quarter of 2012.
|
The decrease in cost of diesel fuel sold to third parties was primarily due to the sale of our third-party fuel-sales business in South Australia in the third quarter of 2012.
| 2 |
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1012620_15_item7_p75_s3
|
1012620_14_item7_p76_s3
|
For 2011 , primary drivers of cash used in investing activities were $178.7 million of cash used for capital expenditures, including $78.2 million for new business investments in Australia, and $89.9 million in net cash paid for acquisitions, primarily related to the acquisition of AZER, partially offset by $22.6 million in cash received from grants from outside parties and $9.5 million in proceeds from the disposition of property and equipment.
|
For 2012 , primary drivers of cash used in investing activities were $1.9 billion of net cash paid for acquisitions, primarily related to the acquisition of RailAmerica, and $231.7 million of cash used for capital expenditures, including $101.9 million for new business investments in Australia, partially offset by $39.6 million in cash received from grants from outside parties and $15.3 million in cash proceeds from the sale of property and equipment.
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1012620_15_item7_p14_s0
|
1012620_14_item7_p78_s0
|
The western end encompasses approximately 670 miles of CP's current operations between Tracy, Minnesota and Rapid City, South Dakota; north of Rapid City to Colony, Wyoming; south of Rapid City to Dakota Junction, Nebraska; and connecting branch lines as well as trackage from Dakota Junction to Crawford, Nebraska, currently leased to the Nebraska Northwestern Railroad (NNW).
|
RCP E operates approximately 670 miles of rail line between Tracy, Minnesota and Rapid City, South Dakota; north of Rapid City to Colony, Wyoming; south of Rapid City to Dakota Junction, Nebraska; and connecting branch lines as well as trackage from Dakota Junction to Crawford, Nebraska, currently leased to the Nebraska Northwestern Railroad Inc. (NNW).
| 2 |
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1012620_15_item7_p14_s1
|
1012620_14_item7_p79_s0
|
Customers on the line ship approximately 52,000 carloads annually of grain, bentonite clay, ethanol, fertilizer and other products.
|
Customers on the RCP E ship approximately 63,000 carloads annually of grain, bentonite clay, ethanol, fertilizer and other products.
| 2 |
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1012620_15_item7_p19_s4
|
1012620_14_item7_p81_s7
|
On February 13, 2013, we exercised our option to convert all of the outstanding Preferred Stock issued to Carlyle into 5,984,232 shares of our Class A common stock.
|
On February 13, 2013, we exercised our option to convert all of the outstanding Series A-1 Preferred Stock into 5,984,232 shares of our Class A Common Stock.
| 2 |
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1012620_15_item7_p99_s1
|
1012620_14_item7_p85_s3
|
The Credit Agreement is collateralized by a substantial portion of the real and personal property assets of our domestic subsidiaries that have guaranteed the United States obligations under the Credit Agreement and a substantial portion of the personal property assets of our foreign subsidiaries that have guaranteed the foreign obligations under the Credit Agreement.
|
The Amended and Restated Credit Agreement is collateralized by a substantial portion of our real and personal property assets of our domestic subsidiaries that have guaranteed the United States obligations under the credit agreement and a substantial portion of the personal property assets of our foreign subsidiaries that have guaranteed the foreign obligations under the credit agreement.
| 2 |
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1012620_15_item7_p97_s1
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1012620_14_item7_p87_s0
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The Credit Agreement contains a number of customary affirmative and negative covenants that, among other things, limit or prohibit our ability, subject to certain exceptions, to incur additional indebtedness; create liens; make investments; pay dividends on capital stock or redeem, repurchase or retire capital stock; consolidate or merge or make acquisitions or dispose of assets; enter into sale and leaseback transactions; engage in any business unrelated to the business currently conducted by us; sell or issue capital stock of any of our restricted subsidiaries; change our fiscal year; enter into certain agreements containing negative pledges and upstream limitations and engage in certain transactions with affiliates.
|
Those covenants, among other things, limit or prohibit our ability, subject to certain exceptions, to incur additional indebtedness; create liens; make investments; pay dividends on capital stock or redeem, repurchase or retire capital stock; consolidate or merge or make acquisitions or dispose of assets; enter into sale and leaseback transactions; engage in any business unrelated to the business currently conducted by us; sell or issue capital stock of any of our restricted subsidiaries; change our fiscal year; enter into certain agreements containing negative pledges and upstream limitations and engage in certain transactions with affiliates.
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1012620_15_item7_p45_s9
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1012620_14_item7_p8_s5
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See Note 10 , Derivative Financial Instruments , to our Consolidated Financial Statements included elsewhere in this Annual Report for further details on the contingent forward sale contract.
|
See Note 10 , Derivative Financial Instruments , to our Consolidated Financial Statements included elsewhere in this Annual Report for further details on the repayment and termination of our cross-currency swap agreements.
| 2 |
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1012620_15_item7_p109_s2
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1012620_14_item7_p99_s3
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The balance from our North American European Operations resulted predominately from a derailment in Alabama (the Aliceville Derailment) in November 2013.
|
The balance from our North American European Operations resulted predominately from our anticipated insurance recoveries associated with a derailment in Alabama (the Aliceville Derailment) in November 2013.
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1012620_15_item7_p69_s11
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1012620_14_item7_p9_s0
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, 2013 were $4.79 with 56.7 million weighted average shares outstanding, compared with diluted EPS attributable to our common stockholders of $1.02 with 51.3 million weighted average shares outstanding in the year ended December 31, 2012 .
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Our diluted EPS in the year ended December 31, 2013 were $4.79 with 56.7 million weighted average shares outstanding, compared with diluted EPS in the year ended December 31, 2012 of $1.02 with 51.3 million weighted average shares outstanding.
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1012620_15_item7_p6_s5
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1012620_14_item7_p9_s0
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, 2013 were $4.79 with 56.7 million weighted average shares outstanding, compared with diluted EPS attributable to our common stockholders of $1.02 with 51.3 million weighted average shares outstanding in the year ended December 31, 2012 .
|
Our diluted earnings per common share (EPS) attributable to our common stockholders in the year ended December 31, 2014 were $4.58 with 57.0 million weighted average shares outstanding, compared with diluted EPS attributable to our common stockholders of $4.79 with 56.7 million weighted average shares outstanding in the year ended December 31, 2013 .
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1012620_16_item7_p98_s2
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1012620_15_item7_p109_s2
|
The balance from our North American European Operations resulted predominately from our anticipated insurance recoveries associated with a derailment in Alabama (the Aliceville Derailment) in November 2013.
|
The balance from our North American Operations resulted predominately from our anticipated insurance recoveries associated with a derailment in Alabama (the Aliceville Derailment) in November 2013 and a trestle fire in Oregon in August 2015.
| 2 |
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1012620_16_item7_p14_s0
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1012620_15_item7_p11_s0
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When we discuss either revenues from existing operations or same railroad revenues, we are referring to the change in our revenues, period-over-period, associated with operations that we managed in both periods (i.e., excluding the impact of acquisitions).
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When we discuss either operating ratios from existing operations or same railroad operating ratios, we are referring to the change in our operating ratio, period-over-period, associated with operations that we managed in both periods (excluding the impact of acquisitions).
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1012620_16_item7_p31_s0
|
1012620_15_item7_p11_s0
|
When we discuss either revenues from existing operations or same railroad revenues, we are referring to the change in our revenues, period-over-period, associated with operations that we managed in both periods (i.e., excluding the impact of acquisitions).
|
When we discuss expenses from existing operations, we are referring to the change in our expenses, period-over-period, associated with operations that we managed in both periods (excluding the impact of acquisitions).
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1012620_16_item7_p18_s11
|
1012620_15_item7_p11_s3
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All remaining traffic increased by a net 440 carloads.
|
All remaining traffic increased by a net 21 carloads.
| 2 |
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1012620_16_item7_p116_s3
|
1012620_15_item7_p127_s1
|
If the carrying amount of the asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess.
|
For indefinite-lived intangible assets, if the carrying amount of the asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess.
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1012620_16_item7_p121_s0
|
1012620_15_item7_p131_s3
|
Accruals for FELA claims by our railroad employees and third-party personal injury or other claims are recorded in the period when such claims are determined to be probable and estimable.
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Accruals for claims are recorded in the period when such claims are determined to be probable and estimable.
| 2 |
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1012620_16_item7_p26_s0
|
1012620_15_item7_p13_s0
|
Changes in Operations United States Rapid City, Pierre Eastern Railroad, Inc.: On May 30, 2014, our new subsidiary, RCP E, purchased the assets comprising the western end of CP's DM E rail line for a cash purchase price of $218.6 million , including the purchase of materials and supplies, railcars, equipment and vehicles.
|
On May 30, 2014, our new subsidiary, RCP E, purchased the assets comprising the western end of Canadian Pacific Railway Limited's (CP) Dakota, Minnesota Eastern Railroad Corporation (DM E) rail line for a cash purchase price of $218.6 million , including the purchase of materials and supplies, railcars, equipment and vehicles.
| 2 |
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1012620_16_item7_p24_s2
|
1012620_15_item7_p13_s2
|
The results of operations from RCP E have been included in our statement of operations since the acquisition date within our North American European Operations segment.
|
The results of operations from Pinsly Arkansas have been included in our consolidated statement of operations since the acquisition date within our North American Operations segment.
| 2 |
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1012620_16_item7_p54_s0
|
1012620_15_item7_p32_s0
|
The following table compares freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2014 and 2013 (dollars in thousands, except average freight revenues per carload):
|
The following table sets forth our U.K./European Operations freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2015 and 2014 (dollars in thousands, except average freight revenues per carload):
| 2 |
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1012620_16_item7_p67_s0
|
1012620_15_item7_p32_s0
|
The following table compares freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2014 and 2013 (dollars in thousands, except average freight revenues per carload):
|
The following table sets forth our North American Operations freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2014 and 2013 , assuming the 2014 foreign currency exchange rates were applicable to both periods (dollars in thousands, except average freight revenues per carload):
| 2 |
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1012620_16_item7_p77_s0
|
1012620_15_item7_p32_s0
|
The following table compares freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2014 and 2013 (dollars in thousands, except average freight revenues per carload):
|
The following table sets forth our Australian Operations freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2014 and 2013 , assuming the 2014 foreign currency exchange rates were applicable to both periods (dollars in thousands, except average freight revenues per carload):
| 2 |
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1012620_16_item7_p18_s11
|
1012620_15_item7_p33_s3
|
All remaining traffic increased by a net 440 carloads.
|
All remaining traffic increased by a net 21 carloads.
| 2 |
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1012620_16_item7_p61_s3
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses for the year ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1,
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1012620_16_item7_p73_s8
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our North American Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1,
1,
1,
-1
] |
1012620_16_item7_p76_s0
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p81_s0
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1,
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1012620_16_item7_p83_s3
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our U.K./European Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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[
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1,
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] |
1012620_16_item7_p84_s4
|
1012620_15_item7_p34_s0
|
The following table sets forth freight revenues by commodity group for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our U.K./European Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p41_s0
|
1012620_15_item7_p35_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our North American Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p50_s0
|
1012620_15_item7_p35_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our Australian Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p71_s0
|
1012620_15_item7_p35_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our North American Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p41_s20
|
1012620_15_item7_p36_s6
|
The carload increase was primarily due to increased shipments in the western United States.
|
The increase in carloads was primarily due to increased copper concentrate shipments in the western United States.
| 2 |
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1012620_16_item7_p73_s8
|
1012620_15_item7_p37_s20
|
The following table compares non-freight revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our North American Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p76_s0
|
1012620_15_item7_p37_s20
|
The following table compares non-freight revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p81_s0
|
1012620_15_item7_p37_s20
|
The following table compares non-freight revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p83_s3
|
1012620_15_item7_p37_s20
|
The following table compares non-freight revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our U.K./European Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p84_s4
|
1012620_15_item7_p37_s20
|
The following table compares non-freight revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our U.K./European Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p46_s7
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues and carloads by new operations and existing operations for the years ended December 31, 2015 and 2014 (dollars in thousands):
| 2 |
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1012620_16_item7_p60_s0
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our operating revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p66_s0
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our North American Operations operating revenues and carloads by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p73_s8
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our North American Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p76_s0
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p81_s0
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p83_s3
|
1012620_15_item7_p38_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our U.K./European Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p1_s1
|
1012620_15_item7_p3_s1
|
Without an extension to the tax credit, we expect our income tax rate to increase significantly in 2015.
|
Without an extension to the tax credit, we expect our income tax rate to increase significantly in 2017.
| 2 |
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1012620_16_item7_p73_s8
|
1012620_15_item7_p42_s0
|
The following table sets forth a comparison of our operating expenses in the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our North American Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p76_s0
|
1012620_15_item7_p42_s0
|
The following table sets forth a comparison of our operating expenses in the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p81_s0
|
1012620_15_item7_p42_s0
|
The following table sets forth a comparison of our operating expenses in the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p84_s4
|
1012620_15_item7_p42_s0
|
The following table sets forth a comparison of our operating expenses in the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our U.K./European Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p74_s2
|
1012620_15_item7_p43_s1
|
The increase in labor and benefits expense consisted of $20.6 million from existing operations and $9.8 million from new operations.
|
The increase consisted of $16.5 million from existing operations and $9.8 million from new operations.
| 2 |
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1012620_16_item7_p82_s11
|
1012620_15_item7_p43_s4
|
Equipment rents expense was $82.7 million in the year ended December 31, 2014 , compared with $77.6 million in the year ended December 31, 2013 , an increase of $5.1 million , or 6.6% .
|
Materials expense was $7.7 million for the year ended December 31, 2014 , compared with $2.6 million for the year ended December 31, 2013 , an increase of $5.1 million .
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1012620_16_item7_p75_s6
|
1012620_15_item7_p43_s5
|
The increase in equipment rents expense consisted of $0.9 million from existing operations and $4.3 million from new operations.
|
The increase consisted of $11.1 million from existing operations and $4.3 million from new operations.
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1012620_16_item7_p45_s17
|
1012620_15_item7_p43_s7
|
The decrease in purchased services consisted of $27.0 million from existing operations, partially offset by $3.2 million from new operations.
|
The decrease consisted of $14.3 million from existing operations, partially offset by $3.3 million from new operations.
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1012620_16_item7_p52_s14
|
1012620_15_item7_p43_s7
|
The decrease in purchased services consisted of $27.0 million from existing operations, partially offset by $3.2 million from new operations.
|
The decrease consisted of $8.0 million from existing operations, partially offset by $7.2 million from new operations.
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1012620_16_item7_p75_s19
|
1012620_15_item7_p43_s7
|
The decrease in purchased services consisted of $27.0 million from existing operations, partially offset by $3.2 million from new operations.
|
The decrease consisted of $16.0 million from existing operations, partially offset by $4.2 million from new operations.
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1012620_16_item7_p75_s3
|
1012620_15_item7_p43_s7
|
The decrease in purchased services consisted of $27.0 million from existing operations, partially offset by $3.2 million from new operations.
|
The decrease consisted of $7.7 million from existing operations, partially offset by $3.2 million from new operations.
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1012620_16_item7_p82_s14
|
1012620_15_item7_p45_s4
|
The increase was primarily attributable to a new customer in Europe and expanded services for an iron ore customer in South Australia that moves over a segment of track owned by a third party.
|
The increase in trackage rights expense was primarily attributable to expanded services for an iron ore customer that moves over a segment of track owned by a third party.
| 2 |
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1012620_16_item7_p34_s0
|
1012620_15_item7_p46_s3
|
Provision for Income Taxes Our income tax provision for the year ended December 31, 2014 was $107.1 million , which represented 29.1% of income before income taxes and income from equity investment.
|
Provision for Income Taxes Our income tax provision for the year ended December 31, 2015 was $75.9 million , which represented 25.2% of income before income taxes.
| 2 |
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1012620_16_item7_p35_s0
|
1012620_15_item7_p47_s0
|
The United States track maintenance credit is an income tax credit for Class II and Class III railroads, as defined by the STB, to reduce their federal income tax based on qualified railroad track maintenance expenditures (the Short Line Tax Credit).
|
The United States Short Line Tax Credit is an income tax track maintenance credit for Class II and Class III railroads to reduce their federal income tax based on qualified railroad track maintenance expenditures.
| 2 |
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1012620_16_item7_p8_s0
|
1012620_15_item7_p49_s2
|
The results of operations of our foreign entities are maintained in the respective local currency (the Australian dollar, the Canadian dollar and the Euro) and then translated into United States dollars at the applicable exchange rates for inclusion in our consolidated financial statements.
|
Exhibits, Financial Statement Schedules" of this Annual Report, the results of operations of the foreign entities are maintained in the respective local currency and then translated into United States dollars at the applicable exchange rates for inclusion in the consolidated financial statements.
| 2 |
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1012620_16_item7_p24_s1
|
1012620_15_item7_p4_s1
|
We funded the acquisition with borrowings under our Amended and Restated Credit Agreement.
|
We funded the acquisition with borrowings under our Prior Credit Agreement.
| 2 |
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1012620_16_item7_p73_s8
|
1012620_15_item7_p50_s0
|
The following table sets forth our North American European Operations and Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our North American Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1,
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1012620_16_item7_p76_s0
|
1012620_15_item7_p50_s0
|
The following table sets forth our North American European Operations and Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p81_s0
|
1012620_15_item7_p50_s0
|
The following table sets forth our North American European Operations and Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p83_s3
|
1012620_15_item7_p50_s0
|
The following table sets forth our North American European Operations and Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth our U.K./European Operations operating revenues for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p84_s4
|
1012620_15_item7_p50_s0
|
The following table sets forth our North American European Operations and Australian Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
|
The following table sets forth operating expenses from our U.K./European Operations for the years ended December 31, 2014 and 2013 (dollars in thousands):
| 2 |
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1012620_16_item7_p52_s17
|
1012620_15_item7_p52_s1
|
The increase in operating expenses consisted of $33.2 million from new operations and $2.3 million from existing operations.
|
The increase consisted of $2.8 million from existing operations and $2.3 million from new operations.
| 2 |
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1012620_16_item7_p54_s0
|
1012620_15_item7_p55_s0
|
The following table compares freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2013 and 2012 (dollars in thousands, except average freight revenues per carload):
|
The following table sets forth our U.K./European Operations freight revenues, carloads and average freight revenues per carload for the years ended December 31, 2015 and 2014 (dollars in thousands, except average freight revenues per carload):
| 2 |
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1012620_16_item7_p18_s3
|
1012620_15_item7_p56_s3
|
All remaining traffic decreased by a net 37 carloads.
|
All remaining traffic decreased by a net 4,027 carloads.
| 2 |
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1012620_16_item7_p40_s3
|
1012620_15_item7_p56_s3
|
All remaining traffic decreased by a net 37 carloads.
|
All remaining traffic decreased by a net 4,027 carloads.
| 2 |
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1012620_16_item7_p41_s0
|
1012620_15_item7_p57_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our North American Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p50_s0
|
1012620_15_item7_p57_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our Australian Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p71_s0
|
1012620_15_item7_p57_s0
|
The following information discusses the significant changes in freight revenues from existing operations by commodity group.
|
The following information discusses the significant changes in our North American Operations freight revenues from existing operations by commodity group excluding the impact of foreign currency.
| 2 |
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1012620_16_item7_p46_s7
|
1012620_15_item7_p60_s0
|
The following table sets forth non-freight revenues by new operations and existing operations for the years ended December 31, 2013 and 2012 (dollars in thousands):
|
The following table sets forth our Australian Operations operating revenues and carloads by new operations and existing operations for the years ended December 31, 2015 and 2014 (dollars in thousands):
| 2 |
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1012620_16_item7_p33_s7
|
1012620_15_item7_p66_s11
|
The increase in interest expense was primarily due to a higher debt balance resulting from the acquisition of RailAmerica.
|
The increase in interest expense was primarily due to a higher debt balance resulting from the acquisition of Freightliner.
| 2 |
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1012620_16_item7_p64_s13
|
1012620_15_item7_p6_s5
|
Our diluted earnings per common share (EPS) attributable to our common stockholders in the year ended December 31, 2014 were $4.58 with 57.0 million weighted average shares outstanding, compared with diluted EPS attributable to our common stockholders of $4.79 with 56.7 million weighted average shares outstanding in the year ended December 31, 2013 .
|
Our diluted EPS for the year ended December 31, 2014 were $4.58 with 57.0 million weighted average shares outstanding, compared with diluted EPS for the year ended December 31, 2013 of $4.79 with 56.7 million weighted average shares outstanding.
| 2 |
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1012620_16_item7_p8_s0
|
1012620_15_item7_p70_s2
|
The results of operations of our foreign entities are maintained in the respective local currency (the Australian dollar, the Canadian dollar and the Euro) and then translated into United States dollars at the applicable exchange rates for inclusion in our consolidated financial statements.
|
Exhibits, Financial Statement Schedules" of this Annual Report, the results of operations of the foreign entities are maintained in the respective local currency and then translated into United States dollars at the applicable exchange rates for inclusion in the consolidated financial statements.
| 2 |
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1012620_16_item7_p24_s1
|
1012620_15_item7_p80_s1
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We funded the acquisition with borrowings under our Amended and Restated Credit Agreement.
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We funded the acquisition with borrowings under our Prior Credit Agreement.
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1012620_17_item7_p3_s10
|
1012620_16_item7_p0_s3
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We expect to make capital investments totaling $225 million in 2016.
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We expect to make capital investments totaling $252 million in 2017.
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1012620_17_item7_p176_s0
|
1012620_16_item7_p101_s0
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(3) Includes the fair value of our interest rate swaps of $12.5 million .
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(c) Includes the fair value of our interest rate swaps of $15.2 million .
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1012620_16_item7_p102_s3
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1012620_17_item7_p200_s1
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1012620_16_item7_p120_s1
|
Our property policies currently have various self-insured retentions, which vary based on the type and location of the incident, that are currently up to $1.0 million per occurrence, except in Australia where our self-insured retention for property damage due to a cyclone or flood is A$2.5 million .
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Our property policies currently have various self-insured retentions, which vary based on the type and location of the incident, that are currently up to $2.5 million per occurrence.
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1012620_17_item7_p202_s5
|
1012620_16_item7_p121_s2
|
Recently Issued Accounting Standards See Note 20 , Recently Issued Accounting Standards , to our Consolidated Financial Statements set forth in "Part IV Item 15.
|
Other Employee Benefit Programs to our Consolidated Financial Statements set forth in "Part IV Item 15.
| 2 |
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1012620_17_item7_p194_s5
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1012620_16_item7_p121_s3
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Exhibits, Financial Statement Schedules" of this Annual Report.
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Exhibits, Financial Statement Schedules" of this Annual Report for additional information regarding ERS.
| 2 |
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1012620_17_item7_p198_s5
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1012620_16_item7_p121_s3
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Exhibits, Financial Statement Schedules" of this Annual Report for additional information regarding ERS.
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1012620_17_item7_p111_s0
|
1012620_16_item7_p13_s4
|
Income from operations for the year ended December 31, 2015 was $384.3 million , compared with $421.6 million for the year ended December 31, 2014 .
|
Operating Income/Operating Ratio Operating income was $384.3 million for the year ended December 31, 2015 , compared with $421.6 million for the year ended December 31, 2014 .
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1012620_17_item7_p21_s0
|
1012620_16_item7_p14_s0
|
When we discuss either operating ratios from existing operations or same railroad operating ratios, we are referring to the change in our operating ratio, period-over-period, associated with operations that we managed in both periods (excluding the impact of acquisitions).
|
When we discuss either operating revenues from existing operations or same railroad operating revenues, we are referring to the change in our operating revenues, period-over-period, associated with operations that we managed in both periods (i.e., excluding the impact of acquisitions).
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1012620_17_item7_p2_s0
|
1012620_16_item7_p14_s0
|
When we discuss either operating ratios from existing operations or same railroad operating ratios, we are referring to the change in our operating ratio, period-over-period, associated with operations that we managed in both periods (excluding the impact of acquisitions).
|
When we discuss results from existing operations or same railroad operations, we are referring to the change in our results, period-over-period, associated with operations that we managed in both periods ( i.e. , excluding the impact of acquisitions).
| 2 |
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