Burlington Northern Santa Fe reported third quarter 2003 earnings of $0.55 per share, an 8% increase over third quarter 2002 earnings of $0.51 per share. Freight revenues increased 4% to a record $2.37 billion due to strong volumes in consumer products and industrial products. Operating expenses increased 4% due to a 21% rise in fuel costs. Operating income rose 3% to $430 million and the operating ratio was 81.8% compared to 81.6% in the prior year.
Burlington Northern Santa Fe reported earnings of $0.54 per share for the second quarter of 2003, up slightly from $0.51 per share in the second quarter of 2002. Freight revenues increased 3.7% to $2.26 billion due to a 4.6% rise in shipments handled. However, operating income was flat at $412 million as fuel expenses increased $56 million compared to the previous year. The company also repurchased 2 million shares during the quarter as part of its share buyback program.
The document is Burlington Northern Santa Fe Corporation's third quarter 2002 investors' report. It includes:
- BNSF reported earnings of $0.51 per share for Q3 2002, even with adjusted earnings of $0.56 per share for the same period in 2001.
- Freight revenues were $2.28 billion for Q3 2002, even with adjusted revenues of $2.28 billion for Q3 2001.
- Operating income decreased to $421 million for Q3 2002 compared to adjusted operating income of $470 million for Q3 2001, with the operating ratio increasing to 81.6% from 79.4%.
1) Burlington Northern Santa Fe Corporation reported earnings of $0.40 per share for the first quarter of 2003, before a cumulative effect adjustment of $0.10 per share for a change in accounting principle.
2) Freight revenues increased 3% to $2.2 billion compared to the first quarter of 2002, while operating expenses rose $103 million to $1.89 billion due to a $90 million increase in fuel costs.
3) Operating income was $346 million for the quarter, down from $380 million in the prior year due to higher fuel costs, and the operating ratio rose to 84.3% from 82.2% in 2002.
Burlington Northern Santa Fe Corporation reported record third quarter 2004 revenues of $2.74 billion, a 16% increase over 2003. Operating expenses increased due to a $465 million charge to update estimates for asbestos and environmental liabilities. Net income was $2 million compared to $203 million in 2003. Freight volumes increased 12% across consumer, industrial, coal, and agricultural products.
Burlington Northern Santa Fe reported record second quarter earnings in 2004, with EPS of $0.67, up 24% from the second quarter of 2003. Freight revenues increased 17% to a record $2.64 billion, driven by a 2% average price increase and record volumes. Operating income increased 23% to $508 million while the operating ratio improved to 80.7%. The company also announced a 13% increase in its quarterly dividend.
Burlington Northern Santa Fe reported earnings of $0.51 per share for Q2 2002, up slightly from $0.50 per share in Q2 2001. Freight revenues were $2.18 billion, down 3% from the previous year, with declines in coal, agricultural products, and industrial products offsetting growth in consumer products. Operating expenses decreased 2% despite lower fuel prices, helping maintain the operating ratio at 81.4%. The company also repurchased 4.2 million shares during the quarter.
This document is Burlington Northern Santa Fe Corporation's 2007 annual investors' report. It summarizes that BNSF achieved record quarterly and annual revenues in 2007. Fourth quarter earnings were $1.46 per share, slightly higher than the previous year. For the full year, earnings were $5.10 per share, approximately equal to 2006. BNSF exceeded $1 billion in free cash flow before dividends for 2007 and achieved $738 million after dividend payments.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2002. It includes:
1) Key financial highlights for Q4 2002 including $0.54 earnings per share, $2.27 billion in freight revenues, and $436 million in operating income.
2) Annual 2002 results including $2.00 earnings per share, $8.87 billion in freight revenues, and $1.66 billion in operating income.
3) Details of common stock repurchases totaling approximately 116 million shares under their repurchase program.
Burlington Northern Santa Fe reported earnings of $0.54 per share for the second quarter of 2003, up slightly from $0.51 per share in the second quarter of 2002. Freight revenues increased 3.7% to $2.26 billion due to a 4.6% rise in shipments handled. However, operating income was flat at $412 million as fuel expenses increased $56 million compared to the previous year. The company also repurchased 2 million shares during the quarter as part of its share buyback program.
The document is Burlington Northern Santa Fe Corporation's third quarter 2002 investors' report. It includes:
- BNSF reported earnings of $0.51 per share for Q3 2002, even with adjusted earnings of $0.56 per share for the same period in 2001.
- Freight revenues were $2.28 billion for Q3 2002, even with adjusted revenues of $2.28 billion for Q3 2001.
- Operating income decreased to $421 million for Q3 2002 compared to adjusted operating income of $470 million for Q3 2001, with the operating ratio increasing to 81.6% from 79.4%.
1) Burlington Northern Santa Fe Corporation reported earnings of $0.40 per share for the first quarter of 2003, before a cumulative effect adjustment of $0.10 per share for a change in accounting principle.
2) Freight revenues increased 3% to $2.2 billion compared to the first quarter of 2002, while operating expenses rose $103 million to $1.89 billion due to a $90 million increase in fuel costs.
3) Operating income was $346 million for the quarter, down from $380 million in the prior year due to higher fuel costs, and the operating ratio rose to 84.3% from 82.2% in 2002.
Burlington Northern Santa Fe Corporation reported record third quarter 2004 revenues of $2.74 billion, a 16% increase over 2003. Operating expenses increased due to a $465 million charge to update estimates for asbestos and environmental liabilities. Net income was $2 million compared to $203 million in 2003. Freight volumes increased 12% across consumer, industrial, coal, and agricultural products.
Burlington Northern Santa Fe reported record second quarter earnings in 2004, with EPS of $0.67, up 24% from the second quarter of 2003. Freight revenues increased 17% to a record $2.64 billion, driven by a 2% average price increase and record volumes. Operating income increased 23% to $508 million while the operating ratio improved to 80.7%. The company also announced a 13% increase in its quarterly dividend.
Burlington Northern Santa Fe reported earnings of $0.51 per share for Q2 2002, up slightly from $0.50 per share in Q2 2001. Freight revenues were $2.18 billion, down 3% from the previous year, with declines in coal, agricultural products, and industrial products offsetting growth in consumer products. Operating expenses decreased 2% despite lower fuel prices, helping maintain the operating ratio at 81.4%. The company also repurchased 4.2 million shares during the quarter.
This document is Burlington Northern Santa Fe Corporation's 2007 annual investors' report. It summarizes that BNSF achieved record quarterly and annual revenues in 2007. Fourth quarter earnings were $1.46 per share, slightly higher than the previous year. For the full year, earnings were $5.10 per share, approximately equal to 2006. BNSF exceeded $1 billion in free cash flow before dividends for 2007 and achieved $738 million after dividend payments.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2002. It includes:
1) Key financial highlights for Q4 2002 including $0.54 earnings per share, $2.27 billion in freight revenues, and $436 million in operating income.
2) Annual 2002 results including $2.00 earnings per share, $8.87 billion in freight revenues, and $1.66 billion in operating income.
3) Details of common stock repurchases totaling approximately 116 million shares under their repurchase program.
Burlington Northern Santa Fe reported record quarterly revenue and earnings per share for Q2 2005. Freight revenues increased 15% compared to Q2 2004, reaching a record $3.04 billion. Operating income increased 40% to a record $710 million while the operating ratio improved to 76.7% from 80.7% in Q2 2004. The board also approved an 18% increase in the quarterly dividend to $0.20 per share.
This document provides Burlington Northern Santa Fe Corporation's financial results for the 2nd quarter of 2008. It includes:
- Freight revenues increased 16% to $4.35 billion compared to $3.74 billion in 2Q2007, driven by improved yields and higher fuel surcharges.
- Operating income was $714 million compared to $841 million in 2Q2007, with a $474 million increase in fuel expenses and $175 million environmental charge.
- Net income was $350 million compared to $433 million in 2Q2007, with earnings per share of $1.00 compared to $1.20 previously.
- Capital expenditures for 2008 will increase to $2.
The document is Burlington Northern Santa Fe Corporation's second quarter 2007 investors' report. It summarizes that freight revenues increased 4% to $3.74 billion compared to second quarter 2006, but operating income decreased slightly to $841 million due to a $93 million rise in fuel expenses. Earnings per share were $1.20 compared to $1.27 in second quarter 2006. The report also provides details on financial results, operating statistics, and revenues by commodity for the quarter.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2004. Some key points:
- BNSF reported record quarterly earnings of $0.91 per share for Q4 2004, up 49% from $0.61 per share in Q4 2003. Revenues also reached a record at $2.92 billion for the quarter.
- Freight revenues increased 19% year-over-year for Q4 driven by double-digit growth across all four business groups.
- Operating expenses grew 15% for the quarter due to a 10% increase in volumes and higher fuel prices.
- The operating ratio improved to 77.1% for Q4
- Burlington Northern Santa Fe (BNSF) reported third quarter 2008 earnings of $2.00 per diluted share, up from $1.48 per diluted share in third quarter 2007.
- Freight revenues increased 21% to $4.77 billion compared to third quarter 2007, driven by improved yields and higher fuel surcharges of $570 million from increased fuel prices.
- Operating expenses were $3.70 billion compared to $3.07 billion in third quarter 2007, with fuel expenses rising $501 million due to higher fuel prices.
- BNSF operates one of the largest rail networks in North America and transports a variety of commodities and goods.
Burlington Northern Santa Fe reported record quarterly earnings for Q3 2006. Freight revenues increased 19% to $3.82 billion due to increases in volume, price, and fuel surcharges. Operating income was also up, increasing 18% to $920 million. Coal, consumer products, and agricultural products revenues all saw double-digit growth compared to Q3 2005, driving the revenue and earnings increases.
The document is Burlington Northern Santa Fe Corporation's third quarter 2001 investors' report. Key points:
- Earnings per share were $0.58 compared to $0.64 in third quarter 2000. Freight revenues were $2.31 billion, even with last year.
- Operating expenses were higher by $69 million due to increased compensation, benefits, and fuel costs. Operating income was $502 million versus $571 million in 2000.
- 4.1 million shares were repurchased in the quarter, bringing the total under the buyback program to 101.1 million shares.
- The report provides financial statements and statistics on revenues, expenses, operations, and capital expenditures for
1) The document provides cautionary statements regarding Southern Company's forward-looking financial information for 2009, noting various factors that could cause actual results to differ from expectations.
2) It summarizes drivers of earnings growth between 2007 and 2008, and provides Southern Company's capital expenditure forecast and major projects for 2009-2011.
3) Southern Company aims for long-term average earnings per share growth of 6% annually and provides earnings per share guidance of $2.30 to $2.45 for 2009.
Burlington Northern Santa Fe reported record quarterly earnings, revenues, and earnings per share for the second quarter of 2006. Freight revenues increased 18% to $3.59 billion due to a 9% increase in volume and higher fuel surcharges. Operating income was a record $863 million, up 22% from the second quarter of 2005. The operating ratio improved to 76.0% due to volume growth across all business units and record coal loadings, leading to BNSF's 17th consecutive quarter of year-over-year volume growth.
This document is Burlington Northern Santa Fe Corporation's annual investors' report for 2005. Some key points:
- BNSF achieved record quarterly and annual revenue and earnings per share in 2005. Fourth quarter earnings were $1.13 per share, up 24% from 2004. Annual earnings were a record $4.01 per share.
- Freight revenues for the fourth quarter of 2005 increased 18% to $3.45 billion compared to 2004. For the full year, freight revenues increased 17% to $12.6 billion.
- Operating income for the fourth quarter was $800 million, up 20% from 2004. For 2005, operating income increased 73% to $2.92
This document is Burlington Northern Santa Fe Corporation's Investors' Report for the first quarter of 2005. It includes:
- Record first quarter earnings of $0.83 per share, a 60% increase over the same period last year. Freight revenues increased 18% to $2.9 billion, also a record.
- Operating income increased 55% to $634 million due to 18% revenue growth and a 5 point reduction in operating ratio to 78.1%.
- Revenues increased double-digits across all business groups, especially consumer products which grew 22% due to international and trucking volume increases.
- The company transported a record number of cars/units and revenue ton miles
Burlington Northern Santa Fe Corporation reported record quarterly earnings of $1.09 per diluted share for Q3 2005. Freight revenues increased 18% to a record $3.22 billion compared to Q3 2004. Operating income reached a quarterly record of $778 million. The operating ratio continued to decrease to 75.8%. Revenue growth was seen across all business groups, especially in consumer products and agricultural products.
Burlington Northern Santa Fe Corporation reported record quarterly and annual earnings in 2006. For the fourth quarter, earnings per share increased 26% compared to the previous year. Freight revenues increased 9% to $3.77 billion due to a 4% rise in volume. Operating income rose 18% to $942 million and the operating ratio improved to 75.0%. For the full year 2006, earnings per share increased 27% and the company exceeded $1 billion in free cash flow before dividends.
burlington northern santa fe 4Q 2008 Investors Reportfinance16
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2008. Some key points:
- For Q4 2008, BNSF reported earnings of $1.79 per diluted share, a 23% increase over Q4 2007. Freight revenues increased 3% to $4.25 billion.
- For full year 2008, BNSF achieved earnings of $6.08 per diluted share, a 19% increase over 2007. Operating revenues increased 14% to $18 billion.
- Operating expenses increased $1.8 billion for the full year, primarily due to a $1.3 billion increase in fuel expenses from higher fuel prices.
- BNSF
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2001. It includes key financial information such as earnings results for Q4 and full year 2001, operating revenues and expenses, balance sheet information, and cash flow information. Specifically, it notes that Q4 2001 earnings were $0.46 per share including workforce reduction costs, or $0.57 per share excluding those costs. For the full year, earnings were $1.87 per share including unusual items, or $2.08 per share excluding unusual items. It also highlights free cash flow of $443 million for the full year, up 3% from 2000.
The document is Burlington Northern Santa Fe Corporation's 2nd Quarter 2001 Investors' Report. It summarizes that:
1) Earnings were $0.50 per diluted share compared to $0.53 per diluted share in the same period last year, with revenues remaining even despite 2% higher ton-miles.
2) Operating expenses were $65 million higher due to factors like flooding in the Midwest and higher fuel costs.
3) Operating income decreased to $428 million from $483 million last year, and the operating ratio increased to 80.9% from 78.4% last year.
Duke Energy reported second quarter 2003 earnings per share of $0.46, including $0.16 from asset sales. Performance was impacted by cooler weather reducing electricity demand. Total first half 2003 earnings were $0.71 per share, including a $0.18 accounting change charge. Duke exceeded its $1.5 billion asset sale target and expects full-year earnings between $1.35-$1.60 per share.
Burlington Northern Santa Fe Corporation reported financial results for the first quarter of 2004 with the following highlights:
- Revenue increased 11% to $2.49 billion driven by an 8% increase in units handled.
- Operating income rose 19% to $410 million and the operating ratio improved to 83.3% from 84.3% in the prior year.
- Earnings per share increased 30% to $0.52 compared to $0.40 in the first quarter of 2003, excluding the effect of an accounting change.
- Capital expenditures totaled $392 million for the quarter focused on maintenance and expansion projects.
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
Progress Energy reported 2004 ongoing earnings of $3.06 per share and GAAP earnings of $3.13 per share. For the fourth quarter, ongoing earnings were $0.62 per share and GAAP earnings were $0.80 per share. For 2005, ongoing earnings guidance was set at $2.90 to $3.20 per share. Key drivers for 2005 earnings included customer growth and usage offset by higher O&M costs and the sale of Progress Rail. Significant events in 2004 included hurricane impacts, regulatory filings, and asset sales.
Burlington Northern Santa Fe reported record quarterly revenue and earnings per share for Q2 2005. Freight revenues increased 15% compared to Q2 2004, reaching a record $3.04 billion. Operating income increased 40% to a record $710 million while the operating ratio improved to 76.7% from 80.7% in Q2 2004. The board also approved an 18% increase in the quarterly dividend to $0.20 per share.
This document provides Burlington Northern Santa Fe Corporation's financial results for the 2nd quarter of 2008. It includes:
- Freight revenues increased 16% to $4.35 billion compared to $3.74 billion in 2Q2007, driven by improved yields and higher fuel surcharges.
- Operating income was $714 million compared to $841 million in 2Q2007, with a $474 million increase in fuel expenses and $175 million environmental charge.
- Net income was $350 million compared to $433 million in 2Q2007, with earnings per share of $1.00 compared to $1.20 previously.
- Capital expenditures for 2008 will increase to $2.
The document is Burlington Northern Santa Fe Corporation's second quarter 2007 investors' report. It summarizes that freight revenues increased 4% to $3.74 billion compared to second quarter 2006, but operating income decreased slightly to $841 million due to a $93 million rise in fuel expenses. Earnings per share were $1.20 compared to $1.27 in second quarter 2006. The report also provides details on financial results, operating statistics, and revenues by commodity for the quarter.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2004. Some key points:
- BNSF reported record quarterly earnings of $0.91 per share for Q4 2004, up 49% from $0.61 per share in Q4 2003. Revenues also reached a record at $2.92 billion for the quarter.
- Freight revenues increased 19% year-over-year for Q4 driven by double-digit growth across all four business groups.
- Operating expenses grew 15% for the quarter due to a 10% increase in volumes and higher fuel prices.
- The operating ratio improved to 77.1% for Q4
- Burlington Northern Santa Fe (BNSF) reported third quarter 2008 earnings of $2.00 per diluted share, up from $1.48 per diluted share in third quarter 2007.
- Freight revenues increased 21% to $4.77 billion compared to third quarter 2007, driven by improved yields and higher fuel surcharges of $570 million from increased fuel prices.
- Operating expenses were $3.70 billion compared to $3.07 billion in third quarter 2007, with fuel expenses rising $501 million due to higher fuel prices.
- BNSF operates one of the largest rail networks in North America and transports a variety of commodities and goods.
Burlington Northern Santa Fe reported record quarterly earnings for Q3 2006. Freight revenues increased 19% to $3.82 billion due to increases in volume, price, and fuel surcharges. Operating income was also up, increasing 18% to $920 million. Coal, consumer products, and agricultural products revenues all saw double-digit growth compared to Q3 2005, driving the revenue and earnings increases.
The document is Burlington Northern Santa Fe Corporation's third quarter 2001 investors' report. Key points:
- Earnings per share were $0.58 compared to $0.64 in third quarter 2000. Freight revenues were $2.31 billion, even with last year.
- Operating expenses were higher by $69 million due to increased compensation, benefits, and fuel costs. Operating income was $502 million versus $571 million in 2000.
- 4.1 million shares were repurchased in the quarter, bringing the total under the buyback program to 101.1 million shares.
- The report provides financial statements and statistics on revenues, expenses, operations, and capital expenditures for
1) The document provides cautionary statements regarding Southern Company's forward-looking financial information for 2009, noting various factors that could cause actual results to differ from expectations.
2) It summarizes drivers of earnings growth between 2007 and 2008, and provides Southern Company's capital expenditure forecast and major projects for 2009-2011.
3) Southern Company aims for long-term average earnings per share growth of 6% annually and provides earnings per share guidance of $2.30 to $2.45 for 2009.
Burlington Northern Santa Fe reported record quarterly earnings, revenues, and earnings per share for the second quarter of 2006. Freight revenues increased 18% to $3.59 billion due to a 9% increase in volume and higher fuel surcharges. Operating income was a record $863 million, up 22% from the second quarter of 2005. The operating ratio improved to 76.0% due to volume growth across all business units and record coal loadings, leading to BNSF's 17th consecutive quarter of year-over-year volume growth.
This document is Burlington Northern Santa Fe Corporation's annual investors' report for 2005. Some key points:
- BNSF achieved record quarterly and annual revenue and earnings per share in 2005. Fourth quarter earnings were $1.13 per share, up 24% from 2004. Annual earnings were a record $4.01 per share.
- Freight revenues for the fourth quarter of 2005 increased 18% to $3.45 billion compared to 2004. For the full year, freight revenues increased 17% to $12.6 billion.
- Operating income for the fourth quarter was $800 million, up 20% from 2004. For 2005, operating income increased 73% to $2.92
This document is Burlington Northern Santa Fe Corporation's Investors' Report for the first quarter of 2005. It includes:
- Record first quarter earnings of $0.83 per share, a 60% increase over the same period last year. Freight revenues increased 18% to $2.9 billion, also a record.
- Operating income increased 55% to $634 million due to 18% revenue growth and a 5 point reduction in operating ratio to 78.1%.
- Revenues increased double-digits across all business groups, especially consumer products which grew 22% due to international and trucking volume increases.
- The company transported a record number of cars/units and revenue ton miles
Burlington Northern Santa Fe Corporation reported record quarterly earnings of $1.09 per diluted share for Q3 2005. Freight revenues increased 18% to a record $3.22 billion compared to Q3 2004. Operating income reached a quarterly record of $778 million. The operating ratio continued to decrease to 75.8%. Revenue growth was seen across all business groups, especially in consumer products and agricultural products.
Burlington Northern Santa Fe Corporation reported record quarterly and annual earnings in 2006. For the fourth quarter, earnings per share increased 26% compared to the previous year. Freight revenues increased 9% to $3.77 billion due to a 4% rise in volume. Operating income rose 18% to $942 million and the operating ratio improved to 75.0%. For the full year 2006, earnings per share increased 27% and the company exceeded $1 billion in free cash flow before dividends.
burlington northern santa fe 4Q 2008 Investors Reportfinance16
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2008. Some key points:
- For Q4 2008, BNSF reported earnings of $1.79 per diluted share, a 23% increase over Q4 2007. Freight revenues increased 3% to $4.25 billion.
- For full year 2008, BNSF achieved earnings of $6.08 per diluted share, a 19% increase over 2007. Operating revenues increased 14% to $18 billion.
- Operating expenses increased $1.8 billion for the full year, primarily due to a $1.3 billion increase in fuel expenses from higher fuel prices.
- BNSF
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2001. It includes key financial information such as earnings results for Q4 and full year 2001, operating revenues and expenses, balance sheet information, and cash flow information. Specifically, it notes that Q4 2001 earnings were $0.46 per share including workforce reduction costs, or $0.57 per share excluding those costs. For the full year, earnings were $1.87 per share including unusual items, or $2.08 per share excluding unusual items. It also highlights free cash flow of $443 million for the full year, up 3% from 2000.
The document is Burlington Northern Santa Fe Corporation's 2nd Quarter 2001 Investors' Report. It summarizes that:
1) Earnings were $0.50 per diluted share compared to $0.53 per diluted share in the same period last year, with revenues remaining even despite 2% higher ton-miles.
2) Operating expenses were $65 million higher due to factors like flooding in the Midwest and higher fuel costs.
3) Operating income decreased to $428 million from $483 million last year, and the operating ratio increased to 80.9% from 78.4% last year.
Duke Energy reported second quarter 2003 earnings per share of $0.46, including $0.16 from asset sales. Performance was impacted by cooler weather reducing electricity demand. Total first half 2003 earnings were $0.71 per share, including a $0.18 accounting change charge. Duke exceeded its $1.5 billion asset sale target and expects full-year earnings between $1.35-$1.60 per share.
Burlington Northern Santa Fe Corporation reported financial results for the first quarter of 2004 with the following highlights:
- Revenue increased 11% to $2.49 billion driven by an 8% increase in units handled.
- Operating income rose 19% to $410 million and the operating ratio improved to 83.3% from 84.3% in the prior year.
- Earnings per share increased 30% to $0.52 compared to $0.40 in the first quarter of 2003, excluding the effect of an accounting change.
- Capital expenditures totaled $392 million for the quarter focused on maintenance and expansion projects.
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
Progress Energy reported 2004 ongoing earnings of $3.06 per share and GAAP earnings of $3.13 per share. For the fourth quarter, ongoing earnings were $0.62 per share and GAAP earnings were $0.80 per share. For 2005, ongoing earnings guidance was set at $2.90 to $3.20 per share. Key drivers for 2005 earnings included customer growth and usage offset by higher O&M costs and the sale of Progress Rail. Significant events in 2004 included hurricane impacts, regulatory filings, and asset sales.
1) Richard F. Wallman, a director of Lear Corp, reported transactions involving Lear common stock on January 31, 2009. He acquired over 1,000 shares and disposed of over 1,000 shares.
2) He also beneficially owned over 25,000 shares of Lear common stock and over 89,000 restricted shares as of January 31, 2009.
3) The restricted shares were granted in 2009 and will vest according to the terms of the 2009 incentive plan.
burlington northern santa fe 10K corp 2008 exhibitsfinance16
This document provides an exhibit index for Burlington Northern Santa Fe Corporation and Subsidiaries. The index lists 27 exhibits that are being incorporated by reference. The exhibits include articles of incorporation, bylaws, instruments defining security holder rights like indentures, material contracts such as compensation plans, and certifications.
El cuento narra la amistad entre un gusano y un escarabajo. Sin embargo, la compañera del escarabajo cuestiona esta amistad debido a las diferencias entre ambos insectos. El escarabajo pone a prueba la amistad alejándose del gusano. Este último muere tratando de encontrar a su amigo, lo que hace que el escarabajo aprenda que la verdadera amistad va más allá de las apariencias o diferencias.
Raquel y Vero están probando subir videos a una plataforma. Quieren verificar que pueden publicar contenido audiovisual en línea de manera exitosa. Están realizando una prueba para confirmar que el proceso de carga y publicación de videos funcione sin problemas.
Burlington Northern Santa Fe Corporation reported double-digit earnings per share growth for the fourth quarter of 2003. Freight revenues increased 8% to a record $2.46 billion compared to $2.27 billion in the fourth quarter of 2002. Consumer products, industrial products, and agricultural products revenues all increased compared to the prior year. Operating expenses increased 8% to $2.02 billion, driven by a 9% increase in units handled and higher fuel prices. Net income for the full year 2003 was $816 million compared to $760 million in 2002.
Illinois Tool Works Inc. is a leading diversified manufacturing company with nearly 600 decentralized business units that produce highly engineered fasteners, components, equipment, consumable systems, and specialty products for customers around the world. In 2000, ITW's revenues were $10 billion and it employed around 55,000 people across 43 countries. ITW operates across several product categories including engineered products, specialty systems, and consumer products, serving major end markets like construction, automotive, general industrial, and consumer durables.
El documento presenta conceptos clave de Web 2.0 como presentaciones electrónicas, navegación, aprendizaje electrónico y autónomo, producción y compartición de conocimiento. Enumera herramientas como blogs, slideshare, podcasts, bookmarks y wikis. Discutes cambios en los paradigmas educativos con docentes, estudiantes, escuelas e Internet integrándose en la sociedad.
The bodies of 11 innocent Sinhalese villagers killed by LTTE terrorists in an attack on the remote village of Karametiya were buried in a single grave in Inginiyagala. A total of 21 villagers were shot dead and around 12 others injured when suspected LTTE cadres stormed the village, firing indiscriminately and chasing those trying to flee. The frightened villagers had moved to Inginiyagala for security reasons following the attack. Police had launched a search operation to find the perpetrators.
Kohl's operates over 500 department stores across 37 states and online. In 2003, net sales increased 12.7% to over $10 billion however net income decreased 8.1% due to issues with inventory levels, customer experience, and marketing. In 2004, Kohl's plans to open 95 new stores and expand existing categories through partnerships for beauty products and new brands. The company believes its focus on national brands, value, and convenience positions it for continued growth.
The document is Illinois Tool Works' (ITW) proxy statement filed with the SEC on March 28, 2006. It provides notice of ITW's annual meeting to be held on May 5, 2006, where shareholders will vote on the election of 10 directors, approval of an amendment to increase authorized shares, approval of the 2006 Stock Incentive Plan, ratification of auditors, and any shareholder proposals. The proxy statement provides background information on each item to be voted on and asks shareholders to vote using the enclosed proxy card.
This document is the 2001 Annual Report to Shareholders for Burlington Northern Santa Fe Corporation. It contains the following key information:
1) The CEO discusses BNSF's progress on its strategic priorities of People, Growth, Ease of Doing Business, Service, and Efficiency in 2001, noting challenges from the economic slowdown but some record achievements.
2) Safety improvements were made but injuries remained level, while discussions progressed with unions on safety agreements.
3) Revenues were flat in 2001 due to economic conditions, but some business lines like Mexico grew, and new customers and services helped capture additional market share.
4) Financial results disappointed expectations for revenue and operating ratio goals, though costs
Third-Quarter 2007 Results and Financial Outlook
- Core operating earnings were $170 million, up $70 million from a year ago, reflecting cost performance and restructuring savings.
- Full-year outlook increased, with core operating earnings expected in the $680 million range and free cash flow of $350 million.
- Seating sales were $2.88 billion and earnings were $181 million, up due to performance and restructuring. Electrical and electronics sales were $693 million with earnings of $4 million, impacted by industry pricing.
The document is a supplement to the proxy statement for Fluor Corporation's annual shareholder meeting providing updated information. It notes that proposal 3 in the original proxy statement asked shareholders to approve increasing authorized common stock from 150 million to 400 million shares, but the board now recommends increasing it to only 375 million shares. It includes the full text of the amended article fourth that would be added to the certificate of incorporation reflecting this revised increase in authorized common stock. Shareholders who have already voted are not required to vote again unless wanting to change their vote.
This document provides an agenda and summaries from ITW's fourth quarter 2005 conference call. The call covered ITW's financial performance, operating results by manufacturing segment, 2006 forecasts, and Q&A. Key highlights included 8% revenue growth and 11.2% operating income growth in Q4 2005 compared to 2004. Operating margins increased 0.6% to 18.1%. The document also summarized performance and forecasts for various ITW segments such as Engineered Products in North America and internationally.
This document is a Form 10-Q quarterly report filed by Illinois Tool Works Inc. with the SEC for the quarter ended September 30, 2007. It includes Illinois Tool Works' statement of income and statement of financial position for this quarter. The statement of income shows revenues of $4.1 billion and net income of $491 million. The statement of financial position lists the company's assets of $14.9 billion including cash, receivables, inventory and plant/equipment. It also lists liabilities of $5.4 billion including debt and payables, and stockholders' equity of $9.4 billion.
Burlington Northern Santa Fe reported record quarterly earnings, revenues, and operating income in the third quarter of 2007. Freight revenues increased 4% to $3.95 billion due to strong yields and volume growth in agricultural products. Operating income grew 9% to $1 billion, also a record. While economic softness reduced consumer and industrial volumes, this was offset by higher revenues from agricultural, coal, and industrial shipments. The company expects near-term challenges from the economy, housing market, and fuel prices but remains optimistic about long-term growth prospects.
1) Burlington Northern Santa Fe reported record first quarter revenues of $3.54 billion, up 5% from the first quarter of 2006, despite flat freight volumes. Net income was $349 million or $0.96 per diluted share, compared to $410 million or $1.09 per diluted share in the prior year.
2) Operating expenses increased $281 million primarily due to an $81 million environmental and technology charge as well as higher fuel costs. Freight revenues increased in all major commodity groups due to rate increases and fuel surcharges.
3) Capital expenditures totaled $537 million for the quarter, with $311 million spent on track maintenance including rail, ties, and surfacing
1) Burlington Northern Santa Fe reported record first quarter revenues and earnings per share that were 31% higher than the previous year. Freight revenues increased 16% to $3.37 billion due to volume growth and rate increases including fuel surcharges.
2) Operating income increased 25% to $792 million while the operating ratio improved to 76.5% from 78.1% the previous year.
3) All four business groups - Consumer Products, Industrial Products, Coal, and Agricultural Products - experienced double-digit revenue growth in the quarter.
1. Burlington Northern Santa Fe reported first quarter 2002 earnings of $0.45 per share, up from $0.34 per share in first quarter 2001, which included non-recurring losses.
2. Freight revenues decreased 6% to $2.14 billion due to softer demand across all major product sectors and mild winter weather reducing coal shipments.
3. Operating expenses decreased 4% to $1.8 billion due to reductions in fuel costs, compensation, and equipment rents, partially offsetting the revenue decline.
This document is Burlington Northern Santa Fe Corporation's 2008 Annual Investors' Report. Some key points:
- For Q4 2008, BNSF reported earnings of $1.79 per diluted share, up 23% from $1.46 in Q4 2007, with freight revenues rising 3% to $4.25 billion.
- For full year 2008, BNSF achieved earnings of $6.08 per diluted share, a 19% increase over 2007, with operating revenues reaching $18.0 billion, up 14% from 2007.
- Operating expenses in 2008 were $14.1 billion, up from $12.3 billion in 2007, primarily due to a $1.
Burlington Coat Factory announced its third quarter fiscal 2009 results. Key highlights include:
- Total sales increased 3.4% compared to last year, while comparable store sales decreased 4.3%.
- Adjusted EBITDA grew 12.9% to $136.5 million due to cost reductions and sales from new stores.
- SG&A expenses as a percentage of sales improved by 1.7% compared to last year.
- The company expects to reduce costs by over $60 million during the third and fourth quarters.
allstate Quarterly Investor Information Earnings Press Release 2003 3rd finance7
Allstate reported strong financial results for the third quarter of 2003, with net income increasing 177% compared to the third quarter of 2002. Operating income also increased, driven by higher underwriting income in Property-Liability from increased premiums earned and favorable loss trends, partially offset by higher catastrophe losses. Premiums and deposits for Allstate Financial reached a record level. The company increased its guidance for full-year 2003 operating income per share.
Oceaneering International reported record first quarter earnings for the period ending March 31, 2009. Revenue was $435 million and net income was $44.3 million, or $0.80 per share. This was an increase from the same period in 2008 due to growth in ROV and Subsea Projects operating profits. While first quarter results exceeded guidance, earnings are expected to decline for the rest of the year relative to 2008 due to anticipated decreases in demand, though the ROV business is expected to achieve profit growth. Full year 2009 EPS guidance was raised to a range of $3.10 to $3.60.
- Marathon Oil Corporation reported Q4 2006 net income of $1.079 billion compared to $1.265 billion in Q4 2005. Full year 2006 net income was $5.234 billion compared to $3.032 billion in 2005.
- Upstream segment income decreased in Q4 2006 due to lower natural gas prices and volumes as well as higher costs, but increased for the full year due to higher oil volumes and prices.
- Downstream segment income decreased in Q4 2006 but increased for the full year due to Marathon's acquisition of a minority interest in 2005.
- Pro forma revenues for Sprint Nextel increased 8% in the third quarter of 2006, while adjusted EPS before amortization rose 7% compared to the previous year.
- The company reported progress on improving margins through merger integration and operational changes to strengthen its competitive position.
- IP and wireless data services grew substantially and positioned the company as an industry leader.
- The company began a stock buyback program of up to $6 billion to be executed over 18 months.
1) Burlington Northern Santa Fe Corporation reported record first quarter 2008 earnings of $1.30 per diluted share, up from $0.96 per diluted share in the first quarter of 2007.
2) Freight revenues increased 17% to $4.14 billion driven by growth in agricultural, coal, and industrial volumes as well as higher fuel surcharges from increased fuel prices.
3) Operating expenses grew due to a $357 million increase in fuel costs from higher fuel prices, while operating income increased to $875 million.
The document is CSX Corporation's quarterly financial report for the second quarter of 2009. Key points include:
- Revenue declined 25% to $2.2 billion due to a 21% drop in volume and lower fuel surcharges.
- Earnings per share were $0.78 compared to $0.93 in the previous year.
- Cost cutting measures helped operating income reach $582 million despite difficult market conditions.
The document provides a reconciliation of non-GAAP measures for Aramark Corporation and its subsidiaries for fiscal years 2003 and 2002. It excludes certain items from its operating results and margins for better comparability. Specifically, it excludes $32 million in business interruption proceeds, a $10.7 million investment write-down, and prior year gains totaling $43.7 million. It also excludes results from the recently acquired Fine Host business. Excluding these items, Aramark's operating income was $535.2 million in fiscal 2003, with an operating margin of 5.8%.
This document provides consolidated financial highlights for Burlington Northern Santa Fe Corporation for the years 1991-1995. Some key points:
- Revenues grew from $4.559 billion in 1991 to $6.183 billion in 1995. Operating income improved from a loss of $239 million in 1991 to income of $526 million in 1995, excluding unusual merger-related charges.
- Net income was $92 million in 1995 but would have been $416 million without accounting changes and debt retirement costs related to the merger.
- Capital expenditures were $1.042 billion in 1995 and are planned to be nearly $1.7 billion in 1996 to support revenue growth and cost reduction initiatives.
This document summarizes the financial performance of Burlington Northern Santa Fe Corporation for the years 1992-1996. It reports that in 1996:
- Operating income increased 14% to $1.75 billion compared to 1995 on a comparable basis.
- Revenues reached $8.19 billion despite a drop in agricultural commodities revenues.
- Operating expenses were $178 million below 1995 levels, lowering the operating ratio to 78.6%.
- Net income grew 21% to $889 million, or $5.70 per share, compared to $733 million in 1995.
This annual report summarizes Burlington Northern Santa Fe Corporation's financial and operational performance in 1998. Some key highlights include:
- Revenues reached a record $8.94 billion, a 6.8% increase over 1997.
- Adjusted operating income grew 16% to a record $2.16 billion.
- Adjusted net income exceeded $1.12 billion, a 19% improvement over 1997.
- The operating ratio improved to 75.9%, nearly 2 points better than 1997's adjusted ratio.
- Safety continued to improve, with reductions in reportable injuries and rail accidents.
Burlington Northern Santa Fe Corporation's 1999 Annual Report summarizes the company's performance in 1999 and compares it to 1994, the year before the BNSF merger. Key points:
1) BNSF achieved record results in safety, customer service, efficiency and financial performance in 1999 compared to 1994.
2) Safety metrics like lost workdays and injuries dropped significantly. Customer service improved with 91% on-time performance. Operating expenses per ton-mile dropped 20-25%.
3) Financial results were also much stronger, with operating income reaching a record $2.24 billion, up 14% annually from 1994. The operating ratio improved 9 points to 75.4%.
Burlington Northern Santa Fe Corporation's 2000 Annual Report summarizes the company's performance for the year. Key points include:
- Revenues grew to $9.2 billion while operating expenses only increased 1% despite a $230 million rise in fuel costs.
- Intermodal revenues increased 6% to a record level while safety and efficiency improvements were made.
- However, weak coal demand, high fuel prices, and a slow US economy impacted results for the year.
- Over the past five years since the Burlington Northern and Santa Fe merger, significant progress has been made in safety, service, efficiency and financials.
BNSF is a major railroad network in the United States that transports a variety of goods. In 2003, BNSF saw revenue growth of 5% driven by strong intermodal growth, though on-time performance fell short of goals. Safety performance reached record levels with injury rates down significantly. Looking forward, BNSF aims to continue revenue growth through initiatives like expanding intermodal capacity and pursuing market-based pricing across all business lines.
Burlington Northern Santa Fe Corporation reported earnings of $0.36 per diluted share for the first quarter of 2001, compared to $0.55 per diluted share for the same period in 2000. Freight revenues were $2.26 billion, up slightly due to a 4% increase in ton-miles. Operating expenses increased 7% to $1.87 billion due to higher fuel costs, severe winter weather, and increased energy costs. The operating ratio was 81.5% compared to 77.3% in 2000. Revenue from agricultural commodities increased 11% while industrial revenues declined 3% and coal revenues declined 1% compared to the first quarter of 2000.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
2. BURLINGTON NORTHERN SANTA FE CORPORATION
INVESTORS' REPORT - UNAUDITED
3rd Quarter 2003
INDEX
Page
Earnings Press Release 1-3
Consolidated Income Information 4
Consolidated Balance Sheet Information 5
Consolidated Cash Flow Information 6
Operating Statistics 7
Revenue Statistics by Commodity 8
Capital Expenditures and Track Maintenance 9
Supplemental Operating Expense Information 10
3. NEWS
Investor Contact: Marsha Morgan FOR IMMEDIATE RELEASE
(817) 352-6452
Media Contact: Richard Russack
(817) 867-6425
Burlington Northern Santa Fe Reports
Third-Quarter 2003 Results
• Third-quarter 2003 earnings was $0.55 per share, or 8 percent higher, compared
with third-quarter 2002 earnings of $0.51 per share.
• Freight revenues increased $83 million, or 4 percent, to a record $2.37 billion
compared with the 2002 third quarter.
• Operating income was $430 million compared with $419 million a year ago.
• Fuel expense was $45 million, or 21 percent, higher than fuel expense in the third
quarter of 2002.
FORT WORTH, Texas, October 21, 2003 - Burlington Northern Santa Fe Corporation
(BNSF) (NYSE: BNI) today reported third-quarter 2003 earnings of $0.55 per share compared
with third-quarter 2002 earnings of $0.51 per share.
“Strong volumes in international and truckload intermodal coupled with an increasing
export demand for wheat and growing demand for paper, construction products and building
products contributed to record third-quarter revenues,” said Matthew K. Rose, BNSF Chairman,
President and Chief Executive Officer. “We saw improvements in pricing and volume despite
the continued softness of the U.S. manufacturing sector,” Rose pointed out.
Freight revenues for the third quarter increased $83 million, or 4 percent, to a record
$2.37 billion compared with 2002 third-quarter revenues of $2.28 billion. Third-quarter freight
revenues included increased fuel surcharges of $22 million compared with the prior year.
Consumer Products revenues increased $48 million, or 5 percent, to a record $929 million
1
4. reflecting continued growth in the international, truckload and perishables sectors as well as
growth in existing business. Industrial Products revenues rose $30 million, or 6 percent, to a
record $554 million reflecting strong demand for paper, lumber, aggregates and clay.
Agricultural Products revenues were up $29 million, or 9 percent, to $371 million, as a result of
increased export demand for wheat and greater ethanol shipments from Midwest plants to
California. Coal revenues decreased $24 million, or 5 percent, to $511 million as a result of less
demand due to milder summer weather and flooding at mines in the Powder River Basin which
limited loadings.
Operating expenses of $1.97 billion were $76 million, or 4 percent, higher than the same
period in 2002. Increases in operating expense were primarily driven by a $45 million, or 21
percent, increase in fuel expense compared with the third quarter of 2002.
Operating income rose $11 million, or 3 percent, to $430 million for the third quarter of
2003 from $419 million for the third quarter of 2002. BNSF’s operating ratio was 81.8 percent
compared to 81.6 percent for the same period in the prior year.
Common Stock Repurchases
During the third quarter of 2003, BNSF repurchased approximately 2 million shares of
its common stock at an average price of $27.93 per share. This brings total repurchases under
BNSF’s 150-million share-repurchase program to approximately 122 million shares as of
September 30, 2003, at an average price of $26.01 per share since the program was announced
in July 1997.
BNSF’s subsidiary, The Burlington Northern and Santa Fe Railway Company, operates
one of the largest railroad networks in North America, with about 32,500 route miles covering
28 states and two Canadian provinces. BNSF is an industry leader in Web-enabling a variety of
customer transactions at www.bnsf.com. The railway is among the world's top transporters of
intermodal traffic, moves more grain than any other American railroad, transports the mineral
components of many of the products we depend on daily, and hauls enough coal to generate
about ten percent of the electricity produced in the United States.
Financial information follows.
2
5. Statements made in this release concerning projections or expectations of financial or
operational performance, or concerning other future events or objectives or results, are
quot;forward-looking statementsquot; within the meaning of the federal securities laws. Forward-
looking statements involve a number of risks and uncertainties and actual results may differ
materially from that projected or implied in those statements. Important factors that could cause
such differences include, but are not limited to, economic and industry conditions: material
adverse changes in economic or industry conditions, both within the United States and globally,
customer demand, effects of adverse economic conditions affecting shippers, adverse economic
conditions in the industries and geographic areas that produce and consume freight, competition
and consolidation within the transportation industry, commodity concentrations, the extent to
which BNSF is successful in gaining new long-term relationships with customers or retaining
existing ones, changes in fuel prices, changes in the securities and capital markets, and changes
in labor costs and labor difficulties, including stoppages affecting either BNSF’s operations or
our customers’ abilities to deliver goods to BNSF for shipment; legal and regulatory factors:
developments and changes in laws and regulations and the ultimate outcome of shipper and rate
claims subject to adjudication, environmental investigations or proceedings and other types of
claims and litigation; and operating factors: technical difficulties, changes in operating
conditions and costs, the Company’s ability to achieve its operational and financial initiatives
and to contain costs, as well as natural events such as severe weather, floods and earthquakes or
other disruptions of the Company’s operating systems, structures, or equipment.
The Company cautions against placing undue reliance on forward-looking statements,
which reflect its current beliefs and are based on information currently available to it as of the
date a forward-looking statement is made. The Company undertakes no obligation to revise
forward-looking statements to reflect future events, changes in circumstances, or changes in
beliefs. In the event the Company does update any forward-looking statement, no inference
should be made that the Company will make additional updates with respect to that statement,
related matters, or any other forward-looking statement. Any corrections or revisions may
appear in the Company’s public filings with the Securities and Exchange Commission (SEC),
which are accessible at www.sec.gov or on the Company’s website at www.bnsf.com, and which
you are advised to consult. Investors are encouraged to read the Company's earnings release
and investors' report together with its SEC filings for a more complete picture and better
understanding of the Company and its financial disclosures.
3
6. Burlington Northern Santa Fe Corporation
Consolidated Income Information*
(Dollars in millions, except per share data)
Three Months Nine Months
Ended September 30, Ended September 30,
2003 2002 2003 2002
Operating revenues
Freight revenues $ 2,365 $ 2,282 $ 6,830 $ 6,603
Other revenues 30 26 91 75
Total operating revenues 2,395 2,308 6,921 6,678
Operating expenses
Compensation and benefits 764 732 2,181 2,151
Purchased services 314 302 927 858
Depreciation and amortization 232 235 683 696
Equipment rents 180 182 529 534
Fuel 260 215 797 606
Materials and other 215 223 616 613
Total operating expenses 1,965 1,889 5,733 5,458
Operating income 430 419 1,188 1,220
Interest expense 106 107 318 321
Other (income) expense, net (4) 5 1 7
Income before income taxes and cumulative effect of
accounting change 328 307 869 892
Income tax expense 125 115 318 334
Income before cumulative effect of accounting change 203 192 551 558
Cumulative effect of accounting change, net of tax (a) - - 39 -
Net income $ 203 $ 192 $ 590 $ 558
Diluted earnings per share before cumulative effect
of accounting change $ 0.55 $ 0.51 $ 1.48 $ 1.46
Diluted earnings per share after cumulative effect
of accounting change $ 0.55 $ 0.51 $ 1.58 $ 1.46
Diluted average shares outstanding (in millions) 371.4 379.5 372.4 382.4
Operating ratio (b) 81.8% 81.6% 82.6% 81.5%
(a) Reflects the adoption of Statement of Financial Accounting Standards (SFAS) No. 143, Accounting for Asset
Retirement Obligations. This standard changed the way the rail industry accounts for asset retirement costs.
(b) Calculated as Total operating expenses less Other revenues divided by Freight revenues.
* Certain prior period amounts have been reclassified to conform with the current period presentation.
4
7. Burlington Northern Santa Fe Corporation
Consolidated Balance Sheet Information
(Dollars in millions, except per share amounts)
September 30, December 31,
2003 2002
Assets
Current assets:
Cash and cash equivalents $ 30 $ 28
Accounts receivable, net 158 141
Materials and supplies 217 226
Current portion of deferred income taxes 323 314
Other current assets 111 82
Total current assets 839 791
Property and equipment, net 24,827 24,022
Other assets 1,004 954
Total assets $ 26,670 $ 25,767
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and other current liabilities $ 2,049 $ 1,918
Long-term debt due within one year 143 173
Total current liabilities 2,192 2,091
Long-term debt and commercial paper 6,826 6,641
Deferred income taxes 7,308 6,975
Casualty and environmental liabilities 444 444
Minimum pension liability 368 368
Employee merger and separation costs 151 170
Other liabilities 1,129 1,146
Total liabilities 18,418 17,835
Stockholders' equity:
Common stock and additional paid-in capital 5,717 5,669
Retained earnings 6,070 5,625
Treasury stock (3,296) (3,114)
Unearned compensation (41) (39)
Accumulated other comprehensive loss (198) (209)
Total stockholders' equity 8,252 7,932
Total liabilities and stockholders' equity $ 26,670 $ 25,767
Book value per share $ 22.24 $ 21.11
Common shares outstanding (in millions) 371.0 375.8
Net debt to total capitalization* 45.7% 46.1%
* Net debt is calculated as total debt less Cash and cash equivalents, and capitalization is calculated as the sum of net debt
and Total stockholders' equity.
5
8. Burlington Northern Santa Fe Corporation
Consolidated Cash Flow Information
(in millions)
Three Months Nine Months
Ended September 30, Ended September 30,
2003 2002 2003 2002
Operating activities
Net income $ 203 $ 192 $ 590 $ 558
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 232 235 683 696
Deferred income taxes 109 96 292 286
Employee merger and separation costs paid (19) (17) (37) (48)
Cumulative effect of accounting change - - (39) -
Other, net (19) 1 (36) (32)
Changes in working capital 138 90 82 19
Net cash provided by operating activities 644 597 1,535 1,479
Investing activities
Capital expenditures (478) (375) (1,313) (1,016)
Other, net (29) (29) (61) (127)
Net cash used for investing activities (507) (404) (1,374) (1,143)
Financing activities
Net (repayments) borrowings (55) (200) 133 67
Dividends paid (46) (46) (135) (138)
Purchase of BNSF common stock (55) (82) (178) (281)
Proceeds from stock options exercised 5 5 23 40
Other financing activities 1 (1) (2) (3)
Net cash used for financing activities (150) (324) (159) (315)
Increase (decrease) in cash and cash equivalents (13) (131) 2 21
Cash and cash equivalents:
Beginning of period 43 178 28 26
End of period $ 30 $ 47 $ 30 $ 47
6
9. Burlington Northern Santa Fe Corporation
Operating Statistics *
Three Months Nine Months
Ended September 30, Ended September 30,
2003 2002 2003 2002
Cars/units (in thousands) 2,213 2,142 6,384 6,105
Average revenues per car/unit $ 1,069 $ 1,065 $ 1,070 $ 1,082
Revenue ton miles (in millions) 128,549 124,547 373,913 364,792
Gross ton miles (in millions) 230,275 222,967 671,063 649,762
RTM/GTM 0.56 0.56 0.56 0.56
Freight revenue/thousand RTM $ 18.40 $ 18.32 $ 18.27 $ 18.10
Operating expense/thousand RTM $ 15.29 $ 15.17 $ 15.33 $ 14.96
Freight revenue/thousand GTM $ 10.27 $ 10.23 $ 10.18 $ 10.16
Operating expense/thousand GTM $ 8.53 $ 8.47 $ 8.54 $ 8.40
Compensation and benefits/thousand GTM $ 3.32 $ 3.28 $ 3.25 $ 3.31
Average employees 36,834 37,745 36,628 37,536
Period end employees 36,875 37,243 36,875 37,243
Thousand RTM/average employee 3,490 3,300 10,208 9,718
Thousand GTM/average employee 6,252 5,907 18,321 17,310
Gallons of fuel used (in millions) 301 291 890 857
Average price per gallon of fuel (cents) (a) 86.4 73.9 89.6 70.7
GTM/gallon of fuel 765 766 754 758
Freight train miles (in millions) 39 37 113 108
GTM/freight train hours (in thousands) 132 139 135 144
Route Miles Operated 32,377 32,944 32,377 32,944
(a) Includes handling, taxes and hedge effect.
* Certain prior period amounts have been reclassified to conform with the current period presentation.
7
11. Burlington Northern Santa Fe Corporation
Capital Expenditures and Track Maintenance
Three Months Nine Months
Ended September 30, Ended September 30,
2003 2002 2003 2002
Capital expenditures (in millions)
Maintenance of way
Rail $ 58 $ 62 $ 183 $ 168
Ties 63 62 196 198
Surfacing 52 53 124 122
Other 83 93 250 237
Total maintenance of way 256 270 753 725
Mechanical 36 36 84 98
Information services 17 21 42 62
Other 24 24 62 51
Total maintenance of business 333 351 941 936
New locomotive acquisitions 51 - 207 -
Terminal and line expansion 87 24 154 73
Other 7 - 11 7
$
Total capital expenditures $ 478 $ 375 $ 1,313 1,016
$
Operating lease commitments $ - $ 41 $ - 147
$
Total capital commitments $ 478 $ 416 $ 1,313 1,163
Track maintenance
Track miles of rail laid
Maintenance of business 204 260 560 579
Expansion projects 60 2 93 4
Total 264 262 653 583
Cross ties inserted (thousands)
Maintenance of business 649 523 1,869 1,972
Expansion projects 129 10 205 17
Total 778 533 2,074 1,989
Track resurfaced (miles) 4,283 4,273 10,094 10,000
9
12. Burlington Northern Santa Fe Corporation
Supplemental Operating Expense Information*
(in millions)
1st 2nd 3rd
2003 Operating expenses Quarter Quarter Quarter
Compensation and benefits $ 718 $ 699 $ 764
Purchased services 301 312 314
Depreciation and amortization 226 225 232
Equipment rents 169 180 180
Fuel 274 263 260
Materials and other 198 203 215
Total operating expenses $ 1,886 $ 1,882 $ 1,965
1st 2nd 3rd 4th Full
22002 Operating expenses Quarter Quarter Quarter Quarter Year
Compensation and benefits $ 719 $ 700 $ 732 $ 743 $ 2,894
Purchased services 275 281 302 288 1,146
Depreciation and amortization 230 231 235 235 931
Equipment rents 175 177 182 164 698
Fuel 184 207 215 227 833
Materials and other 200 190 223 208 821
Total operating expenses $ 1,783 $ 1,786 $ 1,889 $ 1,865 $ 7,323
* Certain prior period amounts have been reclassified to conform with the current period presentation.
10