8-KEarnings & ResultsRegulation FD

NORFOLK SOUTHERN CORP 8-K Report, Financial Results (Jan 25, 2006)

Filed January 25, 2006For Securities:NSC

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Norfolk Southern Corporation's 2005 year-end financial results and to disclose financial information, including the use of non-GAAP financial measures for comparative analysis.

The non-GAAP financial measures exclude the effects of the Conrail corporate reorganization that occurred in the third quarter of 2004 and the effects of Ohio tax legislation enacted in the second quarter of 2005.

Management believes that excluding these specific items provides a clearer and more indicative view of the company's operating results for comparison purposes, both to prior periods and to other companies in the industry.

The filing states that these non-GAAP financial measures are reconciled within the press release (Exhibit 99) attached to the 8-K and will also be reconciled on the Registrant's website. They are intended to be considered in addition to, not as a substitute for, GAAP-reported figures.