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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
OPERATING REVENUES $ 501,002 $ 546,299 $ 1,484,993 $ 1,485,548
OPERATING EXPENSES:        
Labor and benefits 156,235 158,675 475,297 456,089
Equipment rents 36,778 44,630 113,634 110,145
Purchased services 50,991 55,291 149,125 135,849
Depreciation and amortization 50,841 48,303 151,095 138,568
Diesel fuel used in train operations 30,134 34,264 83,851 101,856
Electricity used in train operations 3,226 5,164 9,895 10,530
Casualties and insurance 9,252 11,466 28,814 30,027
Materials 19,678 25,140 62,662 70,764
Trackage rights 22,781 21,765 64,509 57,270
Net (gain)/loss on sale and impairment of assets (524) (1,174) 11,993 (1,981)
Restructuring costs 223 0 6,320 0
Other expenses 29,536 25,216 91,757 86,801
Total operating expenses 409,151 428,740 1,248,952 1,195,918
OPERATING INCOME 91,851 117,559 236,041 289,630
Interest income 416 225 827 375
Interest expense (17,333) (17,464) (53,049) (48,744)
Loss on settlement of foreign currency forward purchase contracts 0 0 0 (18,686)
Other income/(loss), net 1,494 (103) 2,947 545
Income before income taxes 76,428 100,217 186,766 223,120
Provision for income taxes (19,643) (36,855) (54,563) (83,017)
Net income $ 56,785 $ 63,362 $ 132,203 $ 140,103
Basic earnings per common share $ 0.99 $ 1.12 $ 2.31 $ 2.47
Weighted average shares - Basic 57,266 56,819 57,160 56,673
Diluted earnings per common share $ 0.98 $ 1.10 $ 2.28 $ 2.42
Weighted average shares - Diluted 58,180 57,846 58,083 57,833