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This excerpt taken from the KSU 10-K filed Feb 27, 2007. Year
Ended December 31, 2006, Compared with the Year Ended
December 31, 2005
Net Income. Consolidated net income increased
$139.9 million excluding the 2005 non-recurring
VAT/Put
settlement for the year ended December 31, 2006, compared
to the same period in 2005. Including the $131.9 million VAT/Put
settlement in 2005, consolidated net income increased
$8 million. Operating income increased by
$242.0 million primarily driven by targeted price increases
and fuel surcharge, new and expanded existing business in both
the U.S. and Mexico segments, and the integration of KCSM
operations and a full year of consolidated operating results.
Operating expenses increased by only 5% due to increased
efficiencies from the integration of KCSM.
Table of Contents
The following summarizes the consolidated income statement
components of KCS (in millions).
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