THE NEW YORK CENTRAL RAILROAD COMPANY

Income Account

RAILWAY OPERATING REVENUES:                                                                                      1943                      1942   *

Freight.....................      $480,665,605        $428,254,134

Passenger....................        162,017,837          112,259,031

Mail......................          12,908,893            11,999,746

Express.....................          13,778,434            11,132,496

All Other....................          36,754,064            30,020,689
 

Total...................$706,124,833        $593,666,096
 

RAILWAY OPERATING EXPENSES:

Maintenance of Way and Structures (Note A)........      $ 89,735,382        $ 68,547,071

Maintenance of Equipment (Note B)...........        120,590,944          109,096,315

Traffic.....................            7,987,109              7,143,584

Transportation...................        234,558,397          197,544,216

General and All Other................          24,465,267            20,338,412
 

Total...................$477,337,099        $402,669,598
 

NET REVENUE FROM RAILWAY OPERATIONS..........      $228,787,734        $190,996,498

Operating Ratio.................                  67.60                    67.83

Tax Accruals...................        122,035,845            82,890,104

Net Debits for Equipment and Joint Facility Rents          ......          18,227,592            17,706,899
 

NET RAILWAY OPERATING INCOME.............$ 88,524,297       $ 90,399,495
 

Other Income:

Miscellaneous Rent Income.............      $   4,254,857        $    3,349,927

Separately Operated Properties............            1,821,325              2,216,517

Dividend Income (Note C)..............            5,335,004              6,919,987

Income from Funded Securities (Note C).........            4,191,012              4,109,322

Miscellaneous..................            5,531,508              1,682,837
 

Total...................$ 21,133,706        $ 18,278,590
 

TOTAL INCOME....................$109,658,003        $108,678,085

Miscellaneous Deductions from Income...........            1,587,495            11,082,453
 

Income Available for Fixed Charges............$108,070,508       $ 97,595,632
 

Fixed Charges:

Rent for Leased Roads and Equipment (Note C).......      | 21,095,814        $ 22,392,182

Interest on Funded Debt..............          23,563,322            24,533,511

Interest on Unfunded Debt.............               672,121              1,587,756

Amortization of Discount on Funded Debt........                  5,201                        —
 

TiOtal...................$ 45,336,458        $ 48,513,449
 

NET INCOME TRANSFERRED TO EARNED SURPLUS........$ 62,734,050        $ 49,082,183
 

Note A—Includes amortization and depreciation on roadway property.......              $8,965,011                $8,842,087

Note B—Includes amortization and depreciation of equipment.........            $28,193,575              $24,476,159

Also includes depreciation of power-plant machinery.........                 $866,044                   $805,34'^

Note C—Included in other income and rent for leased roads are certain inter-company transactions

representing credits and corresponding debits amounting to........              $3,092,960                $3,979,537

Other  income  also   includes   items  representing  interest  and  dividends   amounting  to              $1,461,431                $1,492,9^0

received on securities of and advances to terminal and other railroad companies
whose properties are jointly used by this Company, as to the major portion of which
a like amount was paid to those companies as rental and included in joint facility rents.