10
 

THE NEW YORK CENTRAL RAILROAD COMPANY
 

Income Account

RAILWAY OPERATING REVENUES:                                                                       j^^^                    ^,j^^

Freight...................      $418,643,637      $468,283,532

Passenger..................         169,444,180        180,965,132

Mail....................           14,506,546          13,613,142

Express...................           12,362,952          13,953,905

All Other..................          39,406,484         38,147,674

Total..................      $654,363,799      $714,963,385

RAILWAY OPERATING EXPENSES:

Maintenance of Way and Structures (Note A)......      $107,722,599      $106,222,923

Maintenance OF Equipment (Note B)..........         175,072,390        127,501,305

Traffic...................            9,054,871            9,283,768

Transportation.................        260,458,406        261,400,205

General and All Other..............          28,372,704          27,431,432

Total..................      $580,680,970      $531,839,633

NET REVENUE FROM RAILWAY OPERATIONS                                          $ 73,682,829      $183,123,752

Operating Ratio................                   88.74                  74.39

Tax Accruals.................            6,423,158          98,372,903

Net Debits FOR Equipment AND Joint Facility Rents.....           17,315,350          18,991,765

NET RAILWAY OPERATING INCOME..........      $ 49,944,321      $ 65,759,084

Other Income:   (Note C)..............

Miscellaneous Rent Income...........      $    4,495,427      $    4,482,216

Separately Operated Properties..........               516,530            1,065,989

Dividend Income...............            4,630,969            5,343,773

Income from Funded Securities..........            4,743,028            4,210,473

Miscellaneous...............            5,920,104           4,925,974

Total..................      $ 20,306,058      $ 20,028,425

TOTAL INCOME                                                                                                        3 70,250,379      $ 85,787,509

Miscellaneous Deductions from Income.........             1,762,019           3,809,769

Income Available for Fixed Charges..........      $ 68,488,360      $ 81,977,740

Fixed Charges:

Rent for Leased Roads AND Equipment (Note C).....      $19,741,893      $20,753,411

Interest on Funded Debt............          21,838,397          22,745,736

Interest ON Unfunded Debt...........            2,455,119            2,675,500

Amortization of Discount on Funded DEBr......                 40,426                 13,154

Total..................      $ 44,075,835      $ 46,187,801

NET INCOME TRANSFERRED TO EARNED SURPLUS   ....        $ 24,412,525      $ 35,789,939

Note A—Includes amortization and depreciation on roadway property.       ...         $    13,015,668        $    10,411,956

Note B—Includes amortization and depreciation of equipment......         $    71,783,213        $    29,765,003

Also includes depreciation of shop and power-plant machinery      ...         $         840,935        $         854,310

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

transactions representing credits and corresponding debits amounting to        $      3,225,577        $      3,184,562

Other   income   also   includes   items   representing   interest   and   dividends

amounting  to...............         $      1,459,246        $      1,459,482

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