Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

QUARTERLY FINANCIAL DATA (unaudited):

The following table sets forth the Company's quarterly results for the years ended December 31, 2014 and 2013 (dollars in thousands, except per share data):

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2014
Operating revenues	$	376,279	$	414,563	$	432,543	$	415,627
Income from operations	$	74,875	$	110,109	$	123,116	$	113,471
Net income	$	39,634	$	60,889	$	72,852	$	87,631
Diluted earnings per common share attributable to Genesee & Wyoming Inc. common stockholders	$	0.70	$	1.07	$	1.27	$	1.53
2013
Operating revenues	$	374,950	$	400,648	$	401,377	$	391,668
Income from operations	$	76,200	$	107,417	$	101,741	$	94,830
Net income	$	82,728	$	65,050	$	66,225	$	58,088
Diluted earnings per common share attributable to Genesee & Wyoming Inc. common stockholders	$	1.46	$	1.14	$	1.16	$	1.03

The quarters shown were affected by the items below:

The first quarter of 2014 included (i) $0.5 million after-tax gain on sale of assets and (ii) $0.7 million after-tax business development and related costs.

The second quarter of 2014 included (i) $2.9 million after-tax credit facility refinancing-related costs, (ii) $1.0 million after-tax gain on sale of assets and (iii) $1.0 million after-tax business development and related costs.

The third quarter of 2014 included (i) $3.9 million tax benefit as a result of receiving consent from the United States IRS to change a tax accounting method retroactively for companies acquired as a result of the RailAmerica acquisition, (ii) $0.9 million after-tax gain on sale of assets, (iii) $0.7 million tax benefit related to differences between book income tax expense and final tax returns filed related to the previous fiscal year and (iv) $0.5 million after-tax business development and related costs.

The fourth quarter of 2014 included (i) $1.0 million after-tax gain on sale of assets, (ii) $19.6 million tax benefit associated with the United States Short Line Tax Credit for first three quarters of 2014, (iii) $7.4 million tax benefit associated with the United States Short Line Tax Credit for fourth quarter of 2014, (iv) $3.5 million tax expense due to the application of the full year 2014 effective tax rate to the results of the first three quarters of 2014 and (v) $1.0 million after-tax business development and related costs.

The first quarter of 2013 included (i) $41.0 million tax benefit associated with the retroactive extension of the United States Short Line Tax Credit for fiscal year 2012 that took place during first quarter of 2013, (ii) $4.0 million tax benefit associated with the United States Short Line Tax Credit for first quarter of 2013, (iii) $8.0 million after-tax RailAmerica integration costs, (iv) $1.3 million after-tax gain on sale of assets and (v) $0.4 million after-tax business development and related costs.

The second quarter of 2013 included (i) $7.5 million tax benefit associated with the United States Short Line Tax Credit, (ii) $0.7 million after-tax gain on sale of assets and (iii) $0.7 million after-tax business development and related costs.

The third quarter of 2013 included (i) $6.8 million tax benefit associated with the United States Short Line Tax Credit, (ii) $0.5 million after-tax gain on sale of assets, (iii) $1.3 million after-tax RailAmerica integration costs, (iv) $1.7 million tax benefit related to differences between book income tax expense and the final tax returns filed in the current year related to the previous fiscal year and (v) $1.3 million after-tax adjustment to depreciation and amortization expense as a result of finalizing the determination of fair values of the assets and liabilities acquired from RailAmerica.

The fourth quarter of 2013 included (i) $7.6 million tax benefit associated with the United States Short Line Tax Credit, (ii) $0.8 million after-tax gain on sale of assets, (iii) $2.0 million tax valuation allowance on foreign tax credits generated in prior years, (iii) $0.7 million after-tax business development and related costs and (iv) $0.6 million after-tax RailAmerica integration and acquisition-related costs.