Union Pacific 2010 Annual Report Download - page 22

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22
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, Except per Share Amounts,
Carloads, Employee Statistics, and Ratios 2010 2009 2008 2007 2006
For the Year Ended December 31
Operating revenues [a] $ 16,965 $ 14,143 $ 17,970 $ 16,283 $ 15,578
Operating income 4,981 3,379 4,070 3,364 2,871
Net income 2,780 1,890 2,335 1,848 1,598
Earnings per share - basic [b] 5.58 3.76 4.57 3.47 2.97
Earnings per share - diluted [b] 5.53 3.74 4.53 3.44 2.94
Dividends declared per share [b] 1.31 1.08 0.98 0.745 0.60
Cash provided by operating activities 4,105 3,204 4,044 3,248 2,853
Cash used in investing activities (2,488) (2,145) (2,738) (2,397) (2,015)
Cash used in financing activities (2,381) (458) (935) (800) (784)
Cash used for common share repurchases (1,249) - (1,609) (1,375) -
At December 31
Total assets $ 43,088 $ 42,184 $ 39,509 $ 37,825 $ 36,318
Long-term obligations 22,373 22,701 21,314 19,328 17,589
Debt due after one year 9,003 9,636 8,607 7,543 6,000
Common shareholders' equity 17,763 16,801 15,315 15,456 15,190
Equity per common share [c] 36.14 33.27 30.43 29.62 28.11
Additional Data
Freight revenues [a] $ 16,069 $ 13,373 $ 17,118 $ 15,486 $ 14,791
Revenue carloads (units) (000) 8,815 7,786 9,261 9,733 9,852
Operating margin (%) [d] 29.4 23.9 22.6 20.7 18.4
Operating ratio (%) [d] 70.6 76.1 77.4 79.3 81.6
Average employees (000) 42.9 43.5 48.2 50.1 50.7
Operating revenues per employee (000) $ 395.5 $ 325.1 $ 372.8 $ 325.0 $ 307.2
Financial Ratios (%)
Debt to capital [e] 34.2 37.0 36.8 33.2 30.9
Return on average common
shareholders' equity [f] 16.1 11.8 15.2 12.1 11.1
[a] Includes fuel surcharge revenue of $1,237 million, $605 million, $2,323 million, $1,478 million, and $1,619 million for 2010,
2009, 2008, 2007, and 2006, respectively, which partially offsets increased operating expenses for fuel. Fuel surcharge
revenue is not comparable from year to year due to implementation of new mileage-based fuel surcharge programs in each
respective year. (See further discussion in Management’s Discussion and Analysis of Financial Condition and Results o
f
Operations – Results of Operations – Operating Revenues, Item 7.)
[b] Earnings per share and dividends have been restated to reflect the May 28, 2008 stock split.
[c] 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.
[d] Operating margin is defined as operating income divided by operating revenues. Operating ratio is defined as operatin
g
expenses divided by operating revenues.
[e] Debt to capital is determined as follows: total debt divided by total debt plus equity.
[f] Return on average common shareholders' equity is determined as follows: Net income divided by average common
shareholders' equity.