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FINANCIAL RESULTS OF OPERATIONS


HERE IS WHAT WE EARNED

OPERATING REVENUES

Freight

1962...$209,222,917
1961...$204,862,561

Passenger

1962...$11,690,756
1961...$10,069,969

Mail

1962...$8,813,235
1961...$8,664,408

Express

1962...$1,489,278
1961...$1,441,369

Other transportation revenues (Switching, milk, baggage, etc.)

1962...$2,272,440
1961...$2,267,708

Incidental operating revenues (Dining car receipts, rentals, demurrage, handling iron ore at Allouez Docks, etc.)

1962...$5,451,797
1961...$5,645,903

Total Railway Operating Revenues

1962...$238,940,423
1961...$232,951,918

OTHER INCOME SOURCES

Burlington dividends (We own 48.59% of the capital stock of the Chicago, Burlington & Quincy Railroad Co.)

1962...$6,226,343
1961...$6,226,343

Dividends from other investments

1962...$715,288
1961...$595,973

Income from bonds, notes and other investments

1962...$2,130,690
1961...$2,178,756

Income from lease or rental of road and equipment, miscellaneous rents, etc.

1962...$1,916,988
1961...$1,918,985

Total Other Income

1962...$10,989,309
1961...$10,920,057

TOTAL INCOME

1962...$249,929,732
1961...$243,871,975


THESE WERE OUR EXPENSES

To operate and maintain the railway

1962...$187,808,766
1961...$185,066,905

Taxes took a big bite of our income

1962...$25,680,369
1961...$27,696,616

We paid rentals on equipment, joint use of rail lines and other property

1962...$2,278,164
1961...$3,425,996

We had fixed charges, mainly interest to our bondholders

1962...$7,985,820
1961...$8,152,617

And there were miscellaneous expenses, such as rents, taxes, etc., incident to other than railway operations.

1962...$1,157,627
1961...$897,421

OUR TOTAL EXPENDITURES

1962...$224,910,746
1961...$225,239,555


WHAT WE DID WITH NET EARNINGS

Remember, we took in $249,929,732 in 1962. Deducting expenses from this gross income we arrive at our net, or "profits"

1962...$25,018,986
1961...$18,632,420

Our net income was split two ways: one part went to our 44,351 stockholders as dividends - the interest we pay them for the use of their money

1962...$18,220,775
1961...$18,236,342

The remainder or "surplus", was kept in the business to pay for improvements, retire debt, build up reserves against lean years, etc.

1962...$6,798,211
1961...$396,078