This excerpt taken from the GWR 10-K filed Mar 15, 2006.
18. QUARTERLY FINANCIAL DATA (Unaudited):
(in thousands, except per share data)
2005 FORM 10K Genesee & Wyoming Inc. F-35
GENESEE & WYOMING INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The second quarter of 2005 included a $0.5 million after-tax non-cash foreign currency translation adjustment on intercompany debt in Mexico.
The third quarter of 2005 included: (i) $0.7 million of after-tax expense for the cost of stock options due to the early adoption of FAS123R, (ii) a one-time tax benefit of $0.7 million related to a change of tax law in Mexico, and (iii) a $2.4 million after-tax gain from the sale of surplus rail.
The fourth quarter of 2005 included: (i) $0.7 million of after-tax expense for the cost of stock options due to the early adoption of FAS123R, (ii) $0.9 million of after-tax expense related to an accrual for historical land tax liabilities at the Australian Railroad Group and (iii) $0.5 million of after-tax expense associated with the sale of GWIs Western Australian operations.
The fourth quarter of 2004 included a $1.1 million non-cash after-tax charge related to the Companys debt refinancing.
The fourth quarter of 2004 also included an additional tax accrual of $1.0 million, of which $257,000 related to the first three quarters of 2004 and $785,000 related to a revaluation of its pre-2004 net U.S. deferred tax liabilities resulting from an increase in the Companys U.S. effective tax rate.