Summary
Norfolk Southern Corporation (NSC) filed an 8-K on January 25, 2006, to report its 2005 year-end financial results and provide a regulatory disclosure. The primary focus of the filing is the release of financial performance data for the twelve months ending December 31, 2005, along with comparative data for the prior year. Crucially, the report highlights the company's use of non-GAAP financial measures to present its results. These adjusted figures exclude the impact of the Conrail corporate reorganization from 2004 and the effects of Ohio tax legislation enacted in 2005. Management asserts that these exclusions provide a clearer view of operating results for comparative purposes, both internally and against other industry players, and will be a key component of their analyst meetings and future reporting.
Key Highlights
- 1NSC filed an 8-K on January 25, 2006, reporting its 2005 year-end financial results.
- 2The filing includes financial performance for the twelve months ending December 31, 2005.
- 3The company is utilizing non-GAAP financial measures for reporting purposes.
- 4Adjusted figures exclude the impact of the 2004 Conrail corporate reorganization.
- 5Adjusted figures also exclude the effects of Ohio tax legislation enacted in 2005.
- 6Management believes these non-GAAP measures offer a better comparison of operating results.
- 7These adjusted measures will be used in analyst meetings and future comparisons.