Union Pacific 2009 Annual Report Download - page 23

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23
Item 6. Selected Financial Data
The following table presents as of, and for the years ended, December 31, our selected financial data for
each of the last five years. The selected financial data should be read in conjunction with Management’s
Discussion and Analysis of Financial Condition and Results of Operations, Item 7, and with the Financial
Statements and Supplementary Data, Item 8. The information below is not necessarily indicative of future
financial condition or results of operations.
Millions of Dollars, Except per Share Amounts,
Carloads, Employee Statistics, and Ratios 2009 2008 2007 2006 2005 [a]
For the Year Ended December 31
Operating revenues [b] $ 14,143
$
17,970 $ 16,283
$
15,578 $ 13,578
Operating income 3,392 4,075 3,375 2,884 1,795
Net income 1,898 2,338 1,855 1,606 1,026
Earnings per share - basic [c] 3.77 4.58 3.49 2.98 1.95
Earnings per share - diluted [c] 3.75 4.54 3.46 2.95 1.92
Dividends declared per share [c] 1.08 0.98 0.745 0.60 0.60
Cash provided by operating activities 3,234 4,070 3,277 2,880 2,595
Cash used for capital investments (2,384) (2,780) (2,496) (2,242) (2,169)
Cash used for common share repurchases - (1,609) (1,375) - -
At December 31
Total assets $ 42,410
$
39,722 $ 38,033
$
36,515 $ 35,620
Debt due after one year 9,636 8,607 7,543 6,000 6,760
Common shareholders' equity 16,941 15,447 15,585 15,312 13,707
Equity per common share [d] 33.54 30.70 29.87 28.34 25.70
Additional Data
Freight revenues [b] $ 13,373
$
17,118 $ 15,486
$
14,791 $ 12,856
Revenue carloads (units) (000) 7,786 9,261 9,733 9,852 9,544
Operating margin (%) [e] 24.0 22.7 20.7 18.5 13.2
Operating ratio (%) [e] 76.0 77.3 79.3 81.5 86.8
Average employees (000) 43.5 48.2 50.1 50.7 49.7
Operating revenues per employee (000) $ 325.1
$
372.8 $ 325.0
$
307.2 $ 273.2
Financial Ratios (%)
Debt to capital [f] 36.8 36.6 33.0 30.7 35.1
Return on average common shareholders' equity [g] 11.7 15.1 12.0 11.1 7.8
[a] 2005 net income includes a $118 million tax expense reduction to reflect a reduction in the estimated deferred income tax
liability.
[b]
I
ncludes fuel surcharge revenue of $605 million, $2,323 million, $1,478 million, $1,619 million, and $963 million for 2009,
2008, 2007, 2006, and 2005, respectively, which partially offsets increased operating expenses for fuel. Fuel surcharg
e
revenue is not comparable from year to year due to implementation of new mileage-based fuel surcharge programs in eac
h
respective year. See further discussion in Management’s Discussion and Analysis of Financial Condition and Results
of Operations – Results of Operations – Operating Revenues, Item 7.
[c] Earnings per share and dividends have been restated to reflect the May 28, 2008 stock split.
[d] Equity per common share is calculated as follows: common shareholders’ equity divided by common shares issued less
treasury shares outstanding. Shares have been adjusted to reflect the May 28, 2008 stock split.
[e] Operating margin is defined as operating income divided by operating revenues. Operating ratio is defined as operatin
g
expenses divided by operating revenues.
[f] Debt to capital is determined as follows: total debt divided by total debt plus equity.
[g]
R
eturn on average common shareholders' equity is determined as follows: Net income divided by average commo
n
shareholders' equity.