10-K/A

1                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K/A

              ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 1996

                          Commission file number 1-7092

                        Illinois Central Railroad Company
             (Exact name of registrant as specified in its charter)

       Delaware                                                   36-2728842
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                              Identification No.)

455 North Cityfront Plaza Drive, Chicago, Illinois              60611-5504
- --------------------------------------------------            ---------------
 (Address of principal executive offices)                       (Zip Code)

               Registrant's telephone number, including area code:
                                 (312) 755-7500





         This Statement is being amended to incorporate Exhibit 27.





     Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant hac duly caused this amendment to be signed on its behalf by the 
undersigned, thereunto duly authorized.

                                      ILLINOIS CENTRAL RAILROAD
                                              Registrant

Date: May 6, 1997                        By: /s/ John V. Mulvaney  
                                                 John V. Mulvaney
                                                  Controller


                        ILLINOIS CENTRAL RAILROAD COMPANY
                                AND SUBSIDIARIES

                                  EXHIBIT INDEX
Exhibit                                                               Sequential
 No.                               Descriptions                         Page No.


27   Financial Data Schedule                                             

EX-27

 

<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                           46300
<SECURITIES>                                         0
<RECEIVABLES>                                    84400
<ALLOWANCES>                                      1300
<INVENTORY>                                      17300
<CURRENT-ASSETS>                                234700
<PP&E>                                         1324700
<DEPRECIATION>                                   38400
<TOTAL-ASSETS>                                 1645900
<CURRENT-LIABILITIES>                           191900
<BONDS>                                              0
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                      482700
<TOTAL-LIABILITY-AND-EQUITY>                   1645900
<SALES>                                         617200
<TOTAL-REVENUES>                                617200
<CGS>                                           397700
<TOTAL-COSTS>                                   397700
<OTHER-EXPENSES>                                (9900)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               26500
<INCOME-PRETAX>                                 202900
<INCOME-TAX>                                     76300
<INCOME-CONTINUING>                             126600
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    126600
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0