Union Pacific 2007 Annual Report Download - page 52

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48
CONSOLIDATED STATEMENTS OF INCOME
Union Pacific Corporation and Subsidiary Companies
Millions, Except Per Share Amounts,
for the Years Ended December 31,
2007
2006
2005
Operating revenue .................................................................................. $16,283 $15,578 $13,578
Operating expenses:
Salaries, wages, and employee benefits ............................................. 4,591 4,599 4,375
Fuel and utilities................................................................................. 3,164 3,012 2,562
Equipment and other rents ............................................................... 1,423 1,455 1,402
Depreciation....................................................................................... 1,321 1,237 1,175
Materials and supplies ....................................................................... 714 691 546
Casualty costs ..................................................................................... 321 410 411
Purchased services and other costs ................................................... 1,374 1,290 1,312
Total operating expenses........................................................................ 12,908 12,694 11,783
Operating income................................................................................... 3,375 2,884 1,795
Other income.......................................................................................... 116 118 145
Interest expense ...................................................................................... (482) (477) (504)
Income before income taxes .................................................................. 3,009 2,525 1,436
Income taxes ........................................................................................... (1,154) (919) (410)
Net income.............................................................................................. $ 1,855 $ 1,606 $ 1,026
Share and Per Share (note 9):
Earnings per share – basic ................................................................. $ 6.97 $ 5.96 $ 3.89
Earnings per share – diluted.............................................................. $ 6.91 $ 5.91 $ 3.85
Weighted average number of shares – basic..................................... 265.9 269.4 263.4
Weighted average number of shares – diluted ................................. 268.4 272.0 266.5
Dividends declared per share ................................................................. $ 1.49 $ 1.20 $ 1.20
The accompanying notes are an integral part of these Consolidated Financial Statements.