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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
OPERATING REVENUES $ 501,375 $ 542,219 $ 983,991 $ 939,249
OPERATING EXPENSES:        
Labor and benefits 155,948 165,296 319,062 297,414
Equipment rents 38,426 43,483 76,856 65,515
Purchased services 51,632 56,177 98,134 80,558
Depreciation and amortization 50,924 48,048 100,254 90,265
Diesel fuel used in train operations 28,251 37,895 53,717 67,592
Electricity used in train operations 3,304 4,977 6,669 5,366
Casualties and insurance 9,442 10,038 19,562 18,561
Materials 21,393 26,929 42,984 45,624
Trackage rights 21,152 22,172 41,728 35,505
Net (gain)/loss on sale and impairment of assets (308) (490) 12,517 (807)
Restructuring costs 4,970 0 6,097 0
Other expenses 29,047 28,243 62,221 61,585
Total operating expenses 414,181 442,768 839,801 767,178
OPERATING INCOME 87,194 99,451 144,190 172,071
Interest income 336 124 411 150
Interest expense (17,741) (17,772) (35,716) (31,280)
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments 0 0 0 (18,686)
Other income, net 722 334 1,453 648
Income before income taxes 70,511 82,137 110,338 122,903
Provision for income taxes (22,112) (29,300) (34,920) (46,162)
Net income $ 48,399 $ 52,837 $ 75,418 $ 76,741
Basic earnings per common share $ 0.85 $ 0.94 $ 1.32 $ 1.37
Weighted average shares - Basic 57,187 55,976 57,106 55,902
Diluted earnings per common share $ 0.83 $ 0.92 $ 1.30 $ 1.34
Weighted average shares - Diluted 58,117 57,143 58,036 57,132