21
 

INCOME ACCOUNT
 

Operating income
Railway operations

Railway operating revenues (Note A)
Railway operating expenses
 

Year Ended
Dec. 31, 1945
10,74576 miles

operated

2654,363,799 34

580,680,969 88
 

Year Ended
Dec. 31, 1944
10,746-27 miles

operated

$714,963,384 73

531,839,633 04
 

Increase
 

$48,841,336 84
 

Net revenue from railway operations          $73,682,829 46       $183,123,751 69
 

Percentage of expenses to revenues {Operating Ratio)
Railway tax accruals
 

Railway operating income
 

Equipment rents, net debit
Joint facility rents, net debit
 

(88-74)
$6,423,158 60

$67,259,670 86

$14,397,298 29
2,918,051 49
 

(74-39)
$98,372,902 80

$84,750,848 89

$16,354,368 26
2,637,396 14
 

(14-35)
 

$280,655 35
 

Net railway operating income          $49,944,321 08          $65,759,084 49
 

Other income
Revenues from miscellaneous operations
Income from lease of road and equipment
Miscellaneous rent income
Miscellaneous non-operating physical property
Separately operated properties—Profit
Dividend income
Income from funded securities
Income from unfunded securities and accounts
Income from sinking and other reserve funds
Release of premium on funded debt
Miscellaneous income

Total other income

Total income

Miscellaneous deductions from income
Expenses of miscellaneous operations
Taxes on miscellaneous operating property
Miscellaneous rents
Miscellaneous tax accruals
Separately operated properties—Loss
Miscellaneous income charges
Delayed income debits

Total miscellaneous deductions

Income available for fixed charges

Fixed charges
Rent for leased roads and equipment
Interest on funded debt
Interest on unfunded debt
Amortization of discount on funded debt
 

$20,306,058 27          $20,028,424 54
 

$70,250,379 35        $85,787,509 03
 

$416,181 39

75,727 10

264,930 76

794,459 84

94,793 60

115,926 52
 

$1,762,019 21
 

$478,331 35

74,179 49

283,796 89

586,304 36

98,987 35

237,827 74

2,050,342 34

$3,809,769 52
 

$277,633 73
 

$1,547 61
208,155 48
 

,488,360 14          $81,977,739 51
 

$19,741,893 42

21,838,396 90

2,455,119 15

40,425 45
 

$20,753,411  14

22,745,735 92

2,675,500 05

13,153 47
 

$27,271 98
 

Total fixed charges          $44,075,834 92          $46,187,800 58
 

524,412,525 22
 

$35,789,938 93
 

$13,015,668 04

$71,783,212 27
),935 39
 

$3,225,577
 

$10,411,955 66

$29,765,002 73

$854,309 60
 

$3,184,561 94
$1,459,481 55
 

$2,603,712 38
$42,018,209 54
 

$41,015 14
 

Decrease
-51 mile

$60,599,585  39

$109,440,922 23

$91,949,744  20

$17,491,178  03

$1,957,069  97

$15,814,763  41
 

$487,935 45
 

$591,703 48
 


 

$103,768 03
 

261,316 18
 

275,669 60
 


 

14,353 42
 

4,495,426 72
 

4,482,215 96
 

$13,210 76
 


 

2,567,758 78
 

1,831,267 61
 

736,491 17
 


 

516,530 62
 

1,065,988 84
 


 

549,458 22
 

4,630,969 02
 

5,343,773 11
 


 

712,804 09
 

4,743,027 67
 

4,210,472 64
 

532,555 03
 


 

1,753,557 06
 

1,626,804 19
 

126,752 87
 


 

36,963 84
 

37,239 25
 


 

275 41
 

18,311 03
 

21,139 25
 


 

2,828 22
 

794,261 90
 

542,150 61
 

252,111 29
 


 

$15,537,129 68

$62,149 96

18,866 13

4,193 75

121,901 22

2,050,342 34
 

$2,047,750 31
$13,489,379 37
 

$1,011,517 72
907,339 02
220,380 90
 

$2,111,965 66
$11,377,413 71
 

$13,374 21
 

Net income

Included in railway operatino expenses are:
Road property depreciation and amortization
Equipment depreciation and amortization
Shop and power-plant machinery depreciation

Included in other income and rent for leased roads and equip¬
ment are certain inter-company transactions representing
credits and corresponding debits amounting to

Also included in other income are items representing interest

and dividends amounting to                                                                  $1,459,246 10            $1,459,48155                                                         $235 45

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 by this Company to those companies as rental and included in joint facility rents.

Note A—After deduction of                                                                     $4,768,040 11               $778,414 56"        $3,989,625 55

for  estimated   refund   to  United   States    governmental
agencies on account land grant equalization and other government recharges.