Norfolk Southern (NSC) FY2012 results: revenue $11.0 billion, down 1.2% on the year
Norfolk Southern Corp. (NSC) reported revenue of $11.0 billion for fiscal 2012, the year ended 31 December 2012, down 1.2% on the year before. Net income was $1.7 billion, down 8.7%, and diluted earnings per share $5.37. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2013.
Revenue
$11.0 billion
-1.2% on the year
FY2007FY2012
Operating margin
28.3%
28.8% a year earlier
FY2007FY2012
Net income
$1.7 billion
-8.7% on the year
FY2007FY2012
Diluted EPS
$5.37
-1.5% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
11,040
11,172
9,516
-1.2%
Operating income
3,124
3,213
2,676
-2.8%
Operating margin
28.3%
28.8%
28.1%
Interest expense
495
455
462
+8.8%
Pre-tax income
2,758
2,918
n/a
-5.5%
Income tax
1,009
1,002
871
+0.7%
Effective tax rate
36.6%
34.3%
n/a
Net income
1,749
1,916
1,488
-8.7%
Net margin
15.8%
17.2%
15.6%
Diluted EPS
$5.37
$5.45
$4.00
-1.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
3,065
3,227
2,714
-5.0%
Capital expenditure
2,241
2,160
1,470
+3.8%
Free cash flow
824
1,067
1,244
-22.8%
Free cash flow margin
7.5%
9.6%
13.1%
Cash from investing
-1,994
-1,772
-1,456
Cash from financing
-694
-2,006
-1,427
Share-based compensation
45.0
61.0
67.0
-26.2%
Buybacks
1,288
2,051
863
-37.2%
Dividends paid
624
576
514
+8.3%
Dividend per share
$1.94
$1.66
$1.40
+16.9%
Diluted shares, weighted
n/a
n/a
372m
Shares outstanding at period end
314m
330m
357m
-4.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
9,760
9,911
10,669
-1.5%
Debt
8,682
7,540
7,025
+15.1%
Other liabilities
11,900
11,087
10,505
+7.3%
Total liabilities and equity
30,342
28,538
28,199
+6.3%
Fixed assets
25,736
24,469
23,231
+5.2%
Investments
2,315
2,259
2,476
+2.5%
Cash and equivalents
653
276
827
+136.6%
Receivables
1,109
1,022
807
+8.5%
Other assets
529
512
858
+3.3%
Total assets
30,342
28,538
28,199
+6.3%
10-K for the year ended 31 December 2012, filed 15 February 2013: the filing.