Summary
Norfolk Southern Corporation (NSC) filed an 8-K on October 26, 2005, primarily to disclose its third-quarter 2005 financial results via an attached press release. The filing highlights the use of non-GAAP financial measures to provide a clearer comparison of operational performance by excluding specific, non-recurring items. These excluded items include the impact of the Conrail corporate reorganization from the prior year's third quarter and first nine months, and the effects of newly enacted Ohio tax legislation impacting the first nine months of 2005.
Key Highlights
- 1NSC announced its third-quarter 2005 financial results via a press release filed with the SEC.
- 2The company utilized non-GAAP financial measures in its reporting to facilitate year-over-year comparisons.
- 3These non-GAAP measures exclude the impact of the Conrail corporate reorganization from Q3 2004 and the first nine months of 2004.
- 4The company also excluded the effects of Ohio tax legislation enacted in Q2 2005 from the first nine months of 2005 results for comparative purposes.
- 5Management believes these adjusted measures offer better insights into ongoing operating results compared to GAAP figures.
- 6The non-GAAP measures are intended for use in comparisons with prior periods and other companies, and will be discussed at the analyst meeting scheduled for October 26, 2005.
- 7The filing includes an Exhibit 99, which is the press release detailing the financial results and the reconciliation of non-GAAP measures.