|
|
($ in millions, except per-share amounts)
|
|
2002
|
|
|
20031
|
|
% Increase
(Decrease)
|
|
|
Financial Results
|
|
|
|
|
|
|
|
|
Railway operating revenues
|
$
|
6,270
|
|
$
|
6,468
|
|
3
|
|
Income from railway operations1
|
$
|
1,158
|
|
$
|
1,064
|
|
(8)
|
|
Railway operating ratio1
|
|
81.5
|
%
|
|
83.5
|
%
|
2
|
|
Income from continuing operations before
accounting changes1
|
$
|
460
|
|
$
|
411
|
|
(11 )
|
|
Earnings per share from continuing operations
before accounting changes — diluted1
|
$
|
1.18
|
|
$
|
1.05
|
|
(11)
|
| |
|
|
|
|
|
|
|
|
Financial Position
|
|
|
|
|
|
|
|
|
Total assets
|
$
|
19,956
|
|
$
|
20,596
|
|
3
|
|
Total debt2
|
$
|
7,364
|
|
$
|
7,160
|
|
(3)
|
|
Stockholders’ equity
|
$
|
6,500
|
|
$
|
6,976
|
|
7
|
|
Debt to total capitalization ratio2
|
|
53.1
|
%
|
|
50.7
|
%
|
(5)
|
|
Stockholders’ equity per share
|
$
|
16.71
|
|
$
|
17.83
|
|
7
|
| |
|
|
|
|
|
|
|
|
Other Information
|
|
|
|
|
|
|
|
|
Year-end stock price
|
$
|
19.99
|
|
$
|
23.65
|
|
18
|
|
Dividends per share
|
$
|
0.26
|
|
$
|
0.30
|
|
15
|
|
Price/earnings ratio at year end
|
|
16.9
|
|
|
17.3
|
|
2
|
|
Number of shareholders at year end
|
|
51,418
|
|
|
52,091
|
|
1
|
|
Shares outstanding at year end
|
|
388,985,340
|
|
|
391,152,863
|
|
1
|
|
Number of employees at year end
|
|
28,514
|
|
|
28,160
|
|
(1)
|
1 Results in 2003 include the costs of a voluntary
separation program and a charge to recognize the impairment
of certain telecommunications assets. The costs of the voluntary
separation program reduced income from railway operations by
$107 million and increased the railway operating ratio by 1.6
percentage points. These two items reduced income from continuing
operations before accounting changes by $119 million or 30 cents
per diluted share.
2 Excludes notes payable to Conrail
|
|