Kansas City Southern Reports Fourth Quarter and Full-Year 2015
Fourth Quarter 2015 Results
-
Revenue of $598 million, a decrease of 7% from fourth quarter 2014.
-
Operating income of $219 million, 2% higher than a year ago.
-
Operating ratio of 63.4%, compared with 66.7% in fourth quarter 2014.
-
Diluted earnings per share of $1.28. Adjusted diluted earnings per
share of $1.23 for fourth quarter 2015, a 3% decrease compared to
fourth quarter 2014.
Kansas City Southern (KCS) (NYSE:KSU) reported fourth quarter 2015
revenues of $598 million. Overall, carload volumes were 2% lower than in
fourth quarter 2014. Excluding the estimated impacts of Mexican peso
depreciation and lower U.S. fuel prices, revenue was flat compared to
the fourth quarter of 2014.
Operating expenses in the fourth quarter were $379 million, 12% lower
than 2014. Excluding the estimated impacts of Mexican peso depreciation
and lower U.S. fuel prices, operating expenses decreased 3% compared to
the fourth quarter of 2014.
Operating income for the fourth quarter of 2015 was $219 million
compared with $214 million a year ago, a 2% increase. KCS reported a
fourth quarter 2015 operating ratio of 63.4%, a 3.3 point improvement
from fourth quarter 2014. Reported net income in the fourth quarter of
2015 totaled $140 million, or $1.28 per diluted share, compared with
$142 million, or $1.28 per diluted share, in the fourth quarter of 2014.
Excluding debt retirement and exchange costs, and the impacts of foreign
exchange rate fluctuations, adjusted diluted earnings per share for
fourth quarter 2015 was $1.23 compared to $1.27 in 2014.
For the full year of 2015, revenue was $2.4 billion, down 6% from 2014.
Carloads for 2015 were 2.2 million, a decrease of 3% from the prior
year. After adjusting for lease termination costs, full-year operating
income was $813 million. Full-year 2015 adjusted operating income
decreased 4% from the prior year’s adjusted operating income. The
Company’s 2015 adjusted operating ratio was 66.4% compared with the
adjusted operating ratio of 67.1% in 2014, a 0.7 point improvement.
Reported net income in 2015 totaled $485 million, or $4.40 per diluted
share, compared with $504 million, or $4.55 per diluted share, in 2014.
Excluding lease termination, debt retirement and exchange costs, and the
impacts of foreign exchange rate fluctuations, adjusted diluted earnings
per share for 2015 was $4.49 compared to $4.82 in 2014.
“KCS’ ability to react to a rapidly changing market and operational
conditions was clearly evidenced during the fourth quarter in which not
only did the Company have to contend with an unsettled economy but also
with a hurricane in Mexico and floods in a key section of its U.S. rail
network,” stated Chief Executive Officer David L. Starling. “Despite
these challenges, KCS attained a fourth quarter 2015 operating ratio of
63.4%, a 3.3 point improvement from the prior year. System velocity and
system dwell metrics also improved, returning KCS to the top tier of
Class I railroads in these categories.
“Though our industry still must contend with economic uncertainty in
2016, the progress we have made during 2015 gives us confidence that KCS
is positioned to maximize its near-term and longer-term business
opportunities.”
|
|
|
|
|
|
|
|
GAAP Reconciliations ($ in millions, except per share
amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Diluted Earnings per Share to
|
|
|
|
|
|
|
|
Adjusted Diluted Earnings per Share
|
|
|
Three Months Ended December 31, 2015
|
|
|
|
Income Before Income Taxes
|
|
Income Tax Expense
|
|
Net Income
|
|
Diluted Earnings per Share
|
As reported
|
|
|
$
|
186.7
|
|
|
$
|
46.7
|
|
|
$
|
140.0
|
|
|
$
|
1.28
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
Debt retirement and exchange costs
|
|
|
7.6
|
|
|
2.7
|
|
|
4.9
|
|
|
0.05
|
|
Foreign exchange loss
|
|
|
4.5
|
|
|
1.4
|
|
|
3.1
|
|
|
0.03
|
|
Foreign exchange component of income taxes
|
|
|
—
|
|
|
13.9
|
|
|
(13.9
|
)
|
|
(0.13
|
)
|
Adjusted
|
|
|
$
|
198.8
|
|
|
$
|
64.7
|
|
|
134.1
|
|
|
|
Less: Noncontrolling interest
|
|
|
|
|
|
|
(0.7
|
)
|
|
|
Adjusted net income available to common
|
|
|
|
|
|
|
|
|
|
stockholders - see (a) below
|
|
|
|
|
|
|
$
|
133.4
|
|
|
$
|
1.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2014
|
|
|
|
Income Before Income Taxes
|
|
Income Tax Expense
|
|
Net Income
|
|
Diluted Earnings per Share
|
As reported
|
|
|
$
|
170.2
|
|
|
$
|
28.5
|
|
|
$
|
141.7
|
|
|
$
|
1.28
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
Foreign exchange loss
|
|
|
31.4
|
|
|
9.4
|
|
|
22.0
|
|
|
0.20
|
|
Foreign exchange component of income taxes
|
|
|
—
|
|
|
22.9
|
|
|
(22.9
|
)
|
|
(0.21
|
)
|
Adjusted
|
|
|
$
|
201.6
|
|
|
$
|
60.8
|
|
|
140.8
|
|
|
|
Less: Noncontrolling interest
|
|
|
|
|
|
|
(0.7
|
)
|
|
|
Adjusted net income available to common
|
|
|
|
|
|
|
|
|
|
stockholders - see (a) below
|
|
|
|
|
|
|
$
|
140.1
|
|
|
$
|
1.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Reconciliations (continued) ($ in millions,
except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Diluted Earnings per Share to
|
|
|
|
|
|
Adjusted Diluted Earnings per Share (continued)
|
|
|
Twelve Months Ended December 31, 2015
|
|
|
|
Income Before Income Taxes
|
|
Income Tax Expense
|
|
Net Income
|
|
Diluted Earnings per Share
|
As reported
|
|
|
$
|
672.6
|
|
|
$
|
187.3
|
|
|
$
|
485.3
|
|
|
$
|
4.40
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
Lease termination costs
|
|
|
9.6
|
|
|
2.9
|
|
|
6.7
|
|
|
0.06
|
|
Debt retirement and exchange costs
|
|
|
7.6
|
|
|
2.7
|
|
|
4.9
|
|
|
0.04
|
|
Foreign exchange loss
|
|
|
56.6
|
|
|
17.0
|
|
|
39.6
|
|
|
0.36
|
|
Foreign exchange component of income taxes
|
|
|
—
|
|
|
40.5
|
|
|
(40.5
|
)
|
|
(0.37
|
)
|
Adjusted
|
|
|
$
|
746.4
|
|
|
$
|
250.4
|
|
|
496.0
|
|
|
|
Less: Noncontrolling interest and preferred stock dividends
|
|
|
|
|
|
|
(2.0
|
)
|
|
|
Adjusted net income available to common
|
|
|
|
|
|
|
|
|
|
stockholders - see (a) below
|
|
|
|
|
|
|
$
|
494.0
|
|
|
$
|
4.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended December 31, 2014
|
|
|
|
Income Before Income Taxes
|
|
Income Tax Expense
|
|
Net Income
|
|
Diluted Earnings per Share
|
As reported
|
|
|
$
|
713.1
|
|
|
$
|
208.8
|
|
|
$
|
504.3
|
|
|
$
|
4.55
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
Lease termination costs
|
|
|
38.3
|
|
|
13.0
|
|
|
25.3
|
|
|
0.23
|
|
Debt retirement and exchange costs
|
|
|
6.6
|
|
|
2.2
|
|
|
4.4
|
|
|
0.04
|
|
Foreign exchange loss
|
|
|
35.5
|
|
|
10.6
|
|
|
24.9
|
|
|
0.22
|
|
Foreign exchange component of income taxes
|
|
|
—
|
|
|
24.2
|
|
|
(24.2
|
)
|
|
(0.22
|
)
|
Adjusted
|
|
|
$
|
793.5
|
|
|
$
|
258.8
|
|
|
534.7
|
|
|
|
Less: Noncontrolling interest and preferred stock dividends
|
|
|
|
|
|
|
(1.9
|
)
|
|
|
Adjusted net income available to common
|
|
|
|
|
|
|
|
|
|
stockholders - see (a) below
|
|
|
|
|
|
|
$
|
532.8
|
|
|
$
|
4.82
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Reconciliations (continued) ($ in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Operating Expenses to Adjusted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended
|
Operating Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
Operating expenses as reported
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,615.0
|
|
|
$
|
1,768.0
|
|
Adjustment for lease termination costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9.6
|
)
|
|
(38.3
|
)
|
Adjusted operating expenses - see (b) below
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,605.4
|
|
|
$
|
1,729.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income as reported
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
803.8
|
|
|
$
|
809.1
|
|
Adjusted operating income - see (b) below
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
813.4
|
|
|
847.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating ratio (c) as reported
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
66.8
|
%
|
|
68.6
|
%
|
Adjusted operating ratio - see (b) and (c) below
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
66.4
|
%
|
|
67.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue Change Excluding Estimated Foreign Exchange
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and U.S. Fuel Price Impacts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change %
|
Reported revenues for the three months ended December 31, 2015
|
|
|
|
|
|
|
|
|
|
|
$
|
598.0
|
|
|
|
Reported revenues for the three months ended December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
642.5
|
|
|
|
Revenue change
|
|
|
|
|
|
|
|
|
|
|
(44.5
|
)
|
|
(7
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated foreign exchange impact
|
|
|
|
|
|
|
|
|
|
|
20.2
|
|
|
|
Estimated U.S. fuel price impact
|
|
|
|
|
|
|
|
|
|
|
27.2
|
|
|
|
Revenue change excluding foreign exchange and U.S. fuel price
|
|
|
|
|
|
|
|
|
|
|
|
|
|
impacts - see (d) below
|
|
|
|
|
|
|
|
|
|
|
$
|
2.9
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expense Change Excluding Estimated Foreign
|
|
|
|
|
|
Exchange and U.S. Fuel Price Impacts
|
|
|
|
|
|
|
|
|
|
|
Change %
|
Reported operating expenses for the three months ended December 31,
2015
|
|
|
$
|
379.1
|
|
|
|
Reported operating expenses for the three months ended December 31,
2014
|
|
|
428.6
|
|
|
|
Operating expense change
|
|
|
(49.5
|
)
|
|
(12
|
%)
|
|
|
|
|
|
|
Estimated foreign exchange impact
|
|
|
20.4
|
|
|
|
Estimated U.S. fuel price impact
|
|
|
15.2
|
|
|
|
Operating expense change excluding foreign exchange and U.S. fuel
price
|
|
|
|
|
|
impacts - see (d) below
|
|
|
$
|
(13.9
|
)
|
|
(3
|
%)
|
|
|
|
|
|
|
|
|
|
(a)
|
|
The Company believes adjusted diluted earnings per share is
meaningful as it allows investors to evaluate the Company's
performance for different periods on a more comparable basis by
excluding the impact of changes in foreign currency exchange rates
and items that are not directly related to the ongoing operations of
the Company.
|
(b)
|
|
The Company believes adjusted operating expenses, operating income
and operating ratio are meaningful as they allow investors to
evaluate the Company's performance for different periods on a more
comparable basis by excluding items that are not directly related to
the ongoing operations of the Company.
|
(c)
|
|
Operating ratio is calculated by dividing operating expenses by
revenues; or in the case of adjusted operating ratio, adjusted
operating expenses divided by revenues.
|
(d)
|
|
The Company believes revenue and operating expense changes excluding
foreign exchange and U.S. fuel price impacts are meaningful measures
as they allow investors to evaluate the Company's performance for
different periods on a more comparable basis by excluding the
impacts of fluctuations in foreign currency exchange rates and U.S.
fuel price by holding these rates constant between the reporting
periods.
|
|
|
|
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE:
KSU) is a transportation holding company that has railroad investments
in the U.S., Mexico and Panama. Its primary U.S. holding is KCSR,
serving the central and south central U.S. Its international holdings
include Kansas City Southern de Mexico, S.A. de C.V., serving
northeastern and central Mexico and the port cities of Lázaro Cárdenas,
Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway
Company, providing ocean-to-ocean freight and passenger service along
the Panama Canal. KCS’ North American rail holdings and strategic
alliances are primary components of a NAFTA Railway system, linking the
commercial and industrial centers of the U.S., Mexico and Canada.
This news release contains “forward-looking statements” within the
meaning of the securities laws concerning potential future events
involving KCS and its subsidiaries, which could materially differ from
the events that actually occur. Words such as “projects,”
“estimates,” “forecasts,” “believes,” “intends,” “expects,”
“anticipates,” and similar expressions are intended to identify many of
these forward-looking statements. Such forward-looking statements
are based upon information currently available to management and
management’s perception thereof as of the date hereof. Differences
that actually occur could be caused by a number of external factors over
which management has little or no control, including: competition and
consolidation within the transportation industry; the business
environment in industries that produce and use items shipped by rail;
loss of the rail concession of KCS’ subsidiary, Kansas City Southern de
México, S.A. de C.V.; the termination of, or failure to renew,
agreements with customers, other railroads and third parties; interest
rates; access to capital; disruptions to KCS’ technology infrastructure,
including its computer systems; natural events such as severe weather,
hurricanes and floods; market and regulatory responses to climate
change; credit risk of customers and counterparties and their failure to
meet their financial obligations; legislative and regulatory
developments and disputes; rail accidents or other incidents or
accidents on KCS’ rail network or at KCS’ facilities or customer
facilities involving the release of hazardous materials, including toxic
inhalation hazards; fluctuation in prices or availability of key
materials, in particular diesel fuel; dependency on certain key
suppliers of core rail equipment; changes in securities and capital
markets; availability of qualified personnel; labor difficulties,
including strikes and work stoppages; insufficiency of insurance to
cover lost revenue, profits or other damages; acts of terrorism or risk
of terrorist activities; war or risk of war; domestic and international
economic conditions; political and economic conditions in Mexico and the
level of trade between the United States and Mexico; increased demand
and traffic congestion; the outcome of claims and litigation involving
KCS or its subsidiaries; and other factors affecting the operation of
the business. More detailed information about factors that could
affect future events may be found in filings by KCS with the Securities
and Exchange Commission, including KCS’ Annual Report on Form 10-K for
the year ended December 31, 2014 (File No. 1-4717) and subsequent
reports. Forward-looking statements are not, and should not be
relied upon as, a guarantee of future performance or results, nor will
they necessarily prove to be accurate indications of the times at or by
which any such performance or results will be achieved. As a
result, actual outcomes and results may differ materially from those
expressed in forward-looking statements. KCS is not obligated to
update any forward-looking statements to reflect future events or
developments.
|
|
|
|
|
|
|
|
|
|
Kansas City Southern and Subsidiaries
|
Consolidated Statements of Income
|
(In millions, except share and per share amounts)
|
(Unaudited)
|
|
|
|
Three Months Ended
|
|
Twelve Months Ended
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Revenues
|
|
|
$
|
598.0
|
|
|
$
|
642.5
|
|
|
$
|
2,418.8
|
|
|
$
|
2,577.1
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
|
103.9
|
|
|
123.2
|
|
|
442.2
|
|
|
474.5
|
|
Purchased services
|
|
|
50.9
|
|
|
62.0
|
|
|
223.0
|
|
|
245.2
|
|
Fuel
|
|
|
69.9
|
|
|
95.1
|
|
|
306.9
|
|
|
415.9
|
|
Equipment costs
|
|
|
29.2
|
|
|
29.6
|
|
|
119.4
|
|
|
119.2
|
|
Depreciation and amortization
|
|
|
73.9
|
|
|
67.3
|
|
|
284.6
|
|
|
258.1
|
|
Materials and other
|
|
|
51.3
|
|
|
51.4
|
|
|
229.3
|
|
|
216.8
|
|
Lease termination costs
|
|
|
—
|
|
|
—
|
|
|
9.6
|
|
|
38.3
|
|
Total operating expenses
|
|
|
379.1
|
|
|
428.6
|
|
|
1,615.0
|
|
|
1,768.0
|
|
Operating income
|
|
|
218.9
|
|
|
213.9
|
|
|
803.8
|
|
|
809.1
|
|
Equity in net earnings of unconsolidated affiliates
|
|
|
3.9
|
|
|
4.5
|
|
|
18.3
|
|
|
21.1
|
|
Interest expense
|
|
|
(23.7
|
)
|
|
(18.3
|
)
|
|
(81.9
|
)
|
|
(72.8
|
)
|
Debt retirement and exchange costs
|
|
|
(7.6
|
)
|
|
—
|
|
|
(7.6
|
)
|
|
(6.6
|
)
|
Foreign exchange loss
|
|
|
(4.5
|
)
|
|
(31.4
|
)
|
|
(56.6
|
)
|
|
(35.5
|
)
|
Other income (expense), net
|
|
|
(0.3
|
)
|
|
1.5
|
|
|
(3.4
|
)
|
|
(2.2
|
)
|
Income before income taxes
|
|
|
186.7
|
|
|
170.2
|
|
|
672.6
|
|
|
713.1
|
|
Income tax expense
|
|
|
46.7
|
|
|
28.5
|
|
|
187.3
|
|
|
208.8
|
|
Net income
|
|
|
140.0
|
|
|
141.7
|
|
|
485.3
|
|
|
504.3
|
|
Less: Net income attributable to noncontrolling interest
|
|
|
0.7
|
|
|
0.7
|
|
|
1.8
|
|
|
1.7
|
|
Net income attributable to Kansas City Southern and subsidiaries
|
|
|
139.3
|
|
|
141.0
|
|
|
483.5
|
|
|
502.6
|
|
Preferred stock dividends
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
0.2
|
|
Net income available to common stockholders
|
|
|
$
|
139.3
|
|
|
$
|
141.0
|
|
|
$
|
483.3
|
|
|
$
|
502.4
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
|
|
$
|
1.28
|
|
|
$
|
1.28
|
|
|
$
|
4.41
|
|
|
$
|
4.56
|
|
Diluted earnings per share
|
|
|
$
|
1.28
|
|
|
$
|
1.28
|
|
|
$
|
4.40
|
|
|
$
|
4.55
|
|
|
|
|
|
|
|
|
|
|
|
Average shares outstanding (in thousands):
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
108,521
|
|
|
110,227
|
|
|
109,709
|
|
|
110,163
|
|
Potentially dilutive common shares
|
|
|
216
|
|
|
266
|
|
|
206
|
|
|
270
|
|
Diluted
|
|
|
108,737
|
|
|
110,493
|
|
|
109,915
|
|
|
110,433
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas City Southern and Subsidiaries
|
Revenue & Carload/Units by Commodity - Fourth Quarter 2015
and 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
Carloads and Units
|
|
|
|
Revenue per
|
|
|
|
|
|
(in millions)
|
|
|
|
(in thousands)
|
|
|
|
Carload/Unit
|
|
|
|
|
|
Fourth Quarter
|
|
%
|
|
Fourth Quarter
|
|
%
|
|
Fourth Quarter
|
|
%
|
|
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical & Petroleum
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals
|
|
|
$
|
52.9
|
|
|
$
|
53.3
|
|
|
(1
|
%)
|
|
28.0
|
|
|
28.3
|
|
|
(1
|
%)
|
|
$
|
1,889
|
|
|
$
|
1,883
|
|
|
—
|
|
Petroleum
|
|
|
35.3
|
|
|
32.4
|
|
|
9
|
%
|
|
20.4
|
|
|
17.0
|
|
|
20
|
%
|
|
1,730
|
|
|
1,906
|
|
|
(9
|
%)
|
Plastics
|
|
|
32.2
|
|
|
29.6
|
|
|
9
|
%
|
|
18.1
|
|
|
16.3
|
|
|
11
|
%
|
|
1,779
|
|
|
1,816
|
|
|
(2
|
%)
|
Total
|
|
|
120.4
|
|
|
115.3
|
|
|
4
|
%
|
|
66.5
|
|
|
61.6
|
|
|
8
|
%
|
|
1,811
|
|
|
1,872
|
|
|
(3
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial & Consumer Products
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forest Products
|
|
|
64.2
|
|
|
67.4
|
|
|
(5
|
%)
|
|
29.8
|
|
|
32.4
|
|
|
(8
|
%)
|
|
2,154
|
|
|
2,080
|
|
|
4
|
%
|
Metals & Scrap
|
|
|
45.5
|
|
|
65.4
|
|
|
(30
|
%)
|
|
25.3
|
|
|
33.9
|
|
|
(25
|
%)
|
|
1,798
|
|
|
1,929
|
|
|
(7
|
%)
|
Other
|
|
|
19.9
|
|
|
18.3
|
|
|
9
|
%
|
|
17.3
|
|
|
17.6
|
|
|
(2
|
%)
|
|
1,150
|
|
|
1,040
|
|
|
11
|
%
|
Total
|
|
|
129.6
|
|
|
151.1
|
|
|
(14
|
%)
|
|
72.4
|
|
|
83.9
|
|
|
(14
|
%)
|
|
1,790
|
|
|
1,801
|
|
|
(1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture & Minerals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grain
|
|
|
56.7
|
|
|
65.7
|
|
|
(14
|
%)
|
|
31.7
|
|
|
34.7
|
|
|
(9
|
%)
|
|
1,789
|
|
|
1,893
|
|
|
(5
|
%)
|
Food Products
|
|
|
37.5
|
|
|
35.9
|
|
|
4
|
%
|
|
17.6
|
|
|
15.9
|
|
|
11
|
%
|
|
2,131
|
|
|
2,258
|
|
|
(6
|
%)
|
Ores & Minerals
|
|
|
7.0
|
|
|
5.5
|
|
|
27
|
%
|
|
8.0
|
|
|
5.7
|
|
|
40
|
%
|
|
875
|
|
|
965
|
|
|
(9
|
%)
|
Stone, Clay & Glass
|
|
|
7.4
|
|
|
6.6
|
|
|
12
|
%
|
|
3.2
|
|
|
2.9
|
|
|
10
|
%
|
|
2,313
|
|
|
2,276
|
|
|
2
|
%
|
Total
|
|
|
108.6
|
|
|
113.7
|
|
|
(4
|
%)
|
|
60.5
|
|
|
59.2
|
|
|
2
|
%
|
|
1,795
|
|
|
1,921
|
|
|
(7
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility Coal
|
|
|
44.2
|
|
|
42.7
|
|
|
4
|
%
|
|
52.9
|
|
|
44.2
|
|
|
20
|
%
|
|
836
|
|
|
966
|
|
|
(13
|
%)
|
Coal & Petroleum Coke
|
|
|
9.4
|
|
|
10.9
|
|
|
(14
|
%)
|
|
16.2
|
|
|
15.4
|
|
|
5
|
%
|
|
580
|
|
|
708
|
|
|
(18
|
%)
|
Frac Sand
|
|
|
5.9
|
|
|
15.4
|
|
|
(62
|
%)
|
|
4.1
|
|
|
7.8
|
|
|
(47
|
%)
|
|
1,439
|
|
|
1,974
|
|
|
(27
|
%)
|
Crude Oil
|
|
|
8.3
|
|
|
7.5
|
|
|
11
|
%
|
|
6.1
|
|
|
4.2
|
|
|
45
|
%
|
|
1,361
|
|
|
1,786
|
|
|
(24
|
%)
|
Total
|
|
|
67.8
|
|
|
76.5
|
|
|
(11
|
%)
|
|
79.3
|
|
|
71.6
|
|
|
11
|
%
|
|
855
|
|
|
1,068
|
|
|
(20
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermodal
|
|
|
93.4
|
|
|
102.4
|
|
|
(9
|
%)
|
|
244.3
|
|
|
261.0
|
|
|
(6
|
%)
|
|
382
|
|
|
392
|
|
|
(3
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive
|
|
|
54.7
|
|
|
60.6
|
|
|
(10
|
%)
|
|
32.8
|
|
|
32.5
|
|
|
1
|
%
|
|
1,668
|
|
|
1,865
|
|
|
(11
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL FOR COMMODITY GROUPS
|
|
|
574.5
|
|
|
619.6
|
|
|
(7
|
%)
|
|
555.8
|
|
|
569.8
|
|
|
(2
|
%)
|
|
$
|
1,034
|
|
|
$
|
1,087
|
|
|
(5
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Revenue
|
|
|
23.5
|
|
|
22.9
|
|
|
3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
|
$
|
598.0
|
|
|
$
|
642.5
|
|
|
(7
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas City Southern and Subsidiaries
|
Revenue & Carload/Units by Commodity - Years Ended December
31, 2015 and 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
Carloads and Units
|
|
|
|
Revenue per
|
|
|
|
|
|
(in millions)
|
|
|
|
(in thousands)
|
|
|
|
Carload/Unit
|
|
|
|
|
|
Years Ended
|
|
%
|
|
Years Ended
|
|
%
|
|
Years Ended
|
|
%
|
|
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical & Petroleum
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals
|
|
|
$
|
215.6
|
|
|
$
|
214.3
|
|
|
1
|
%
|
|
115.8
|
|
|
115.2
|
|
|
1
|
%
|
|
$
|
1,862
|
|
|
$
|
1,860
|
|
|
—
|
|
Petroleum
|
|
|
136.9
|
|
|
124.5
|
|
|
10
|
%
|
|
76.3
|
|
|
68.2
|
|
|
12
|
%
|
|
1,794
|
|
|
1,826
|
|
|
(2
|
%)
|
Plastics
|
|
|
121.7
|
|
|
114.2
|
|
|
7
|
%
|
|
67.6
|
|
|
63.5
|
|
|
6
|
%
|
|
1,800
|
|
|
1,798
|
|
|
—
|
|
Total
|
|
|
474.2
|
|
|
453.0
|
|
|
5
|
%
|
|
259.7
|
|
|
246.9
|
|
|
5
|
%
|
|
1,826
|
|
|
1,835
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial & Consumer Products
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forest Products
|
|
|
269.7
|
|
|
271.5
|
|
|
(1
|
%)
|
|
127.1
|
|
|
129.6
|
|
|
(2
|
%)
|
|
2,122
|
|
|
2,095
|
|
|
1
|
%
|
Metals & Scrap
|
|
|
221.9
|
|
|
272.3
|
|
|
(19
|
%)
|
|
120.7
|
|
|
141.4
|
|
|
(15
|
%)
|
|
1,838
|
|
|
1,926
|
|
|
(5
|
%)
|
Other
|
|
|
78.8
|
|
|
79.5
|
|
|
(1
|
%)
|
|
72.7
|
|
|
76.4
|
|
|
(5
|
%)
|
|
1,084
|
|
|
1,041
|
|
|
4
|
%
|
Total
|
|
|
570.4
|
|
|
623.3
|
|
|
(8
|
%)
|
|
320.5
|
|
|
347.4
|
|
|
(8
|
%)
|
|
1,780
|
|
|
1,794
|
|
|
(1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture & Minerals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grain
|
|
|
231.0
|
|
|
258.2
|
|
|
(11
|
%)
|
|
132.9
|
|
|
137.7
|
|
|
(3
|
%)
|
|
1,738
|
|
|
1,875
|
|
|
(7
|
%)
|
Food Products
|
|
|
142.7
|
|
|
137.6
|
|
|
4
|
%
|
|
64.7
|
|
|
60.0
|
|
|
8
|
%
|
|
2,206
|
|
|
2,293
|
|
|
(4
|
%)
|
Ores & Minerals
|
|
|
27.2
|
|
|
23.0
|
|
|
18
|
%
|
|
28.9
|
|
|
24.0
|
|
|
20
|
%
|
|
941
|
|
|
958
|
|
|
(2
|
%)
|
Stone, Clay & Glass
|
|
|
28.4
|
|
|
27.8
|
|
|
2
|
%
|
|
12.3
|
|
|
12.2
|
|
|
1
|
%
|
|
2,309
|
|
|
2,279
|
|
|
1
|
%
|
Total
|
|
|
429.3
|
|
|
446.6
|
|
|
(4
|
%)
|
|
238.8
|
|
|
233.9
|
|
|
2
|
%
|
|
1,798
|
|
|
1,909
|
|
|
(6
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility Coal
|
|
|
140.6
|
|
|
199.1
|
|
|
(29
|
%)
|
|
173.7
|
|
|
192.5
|
|
|
(10
|
%)
|
|
809
|
|
|
1,034
|
|
|
(22
|
%)
|
Coal & Petroleum Coke
|
|
|
39.6
|
|
|
40.9
|
|
|
(3
|
%)
|
|
61.2
|
|
|
60.3
|
|
|
1
|
%
|
|
647
|
|
|
678
|
|
|
(5
|
%)
|
Frac Sand
|
|
|
38.4
|
|
|
63.7
|
|
|
(40
|
%)
|
|
23.1
|
|
|
32.3
|
|
|
(28
|
%)
|
|
1,662
|
|
|
1,972
|
|
|
(16
|
%)
|
Crude Oil
|
|
|
33.7
|
|
|
23.1
|
|
|
46
|
%
|
|
22.8
|
|
|
14.1
|
|
|
62
|
%
|
|
1,478
|
|
|
1,638
|
|
|
(10
|
%)
|
Total
|
|
|
252.3
|
|
|
326.8
|
|
|
(23
|
%)
|
|
280.8
|
|
|
299.2
|
|
|
(6
|
%)
|
|
899
|
|
|
1,092
|
|
|
(18
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermodal
|
|
|
381.5
|
|
|
395.8
|
|
|
(4
|
%)
|
|
990.3
|
|
|
1,019.6
|
|
|
(3
|
%)
|
|
385
|
|
|
388
|
|
|
(1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive
|
|
|
218.7
|
|
|
238.4
|
|
|
(8
|
%)
|
|
126.5
|
|
|
127.1
|
|
|
—
|
|
|
1,729
|
|
|
1,876
|
|
|
(8
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL FOR COMMODITY GROUPS
|
|
|
2,326.4
|
|
|
2,483.9
|
|
|
(6
|
%)
|
|
2,216.6
|
|
|
2,274.1
|
|
|
(3
|
%)
|
|
$
|
1,050
|
|
|
$
|
1,092
|
|
|
(4
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Revenue
|
|
|
92.4
|
|
|
93.2
|
|
|
(1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
|
$
|
2,418.8
|
|
|
$
|
2,577.1
|
|
|
(6
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160122005129/en/ Copyright Business Wire 2016
Source: Business Wire
(January 22, 2016 - 8:00 AM EST)
News by QuoteMedia
www.quotemedia.com
|