8-KEarnings & ResultsRegulation FDExhibits & Filings

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

Filed October 25, 2006For Securities:NSC

Summary

Norfolk Southern Corporation (NSC) filed an 8-K on October 25, 2006, to report its third-quarter financial results. The filing highlights the company's financial performance and includes a specific disclosure regarding a non-GAAP financial measure. This non-GAAP measure is presented to offer a clearer comparison of operating results by excluding the impact of Ohio tax legislation from the first nine months of 2005. Investors should note that while the company believes this adjusted figure provides valuable insight for comparing current and prior periods, it is not a substitute for GAAP-reported net income and diluted earnings per share. Management intends to use this non-GAAP measure in future communications, including an analyst meeting held on the same day as the filing.

Key Highlights

  • 1Disclosure of Third Quarter Results: The 8-K filing serves to publicly announce Norfolk Southern's financial results for the third quarter of 2006.
  • 2Use of Non-GAAP Financial Measure: The company is presenting a non-GAAP financial measure to facilitate performance comparisons.
  • 3Exclusion of Ohio Tax Legislation: The non-GAAP measure specifically excludes the impact of Ohio tax legislation from the first nine months of 2005.
  • 4Purpose of Non-GAAP Measure: Management believes this adjusted figure better reflects operating results for comparison to prior periods and other companies.
  • 5Reconciliation Provided: The press release attached as an exhibit includes a verbal reconciliation of the non-GAAP measure.
  • 6Investor Meeting Context: The non-GAAP measure will be used for comparisons at the company's analyst meeting held on October 25, 2006, and in future comparisons.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Norfolk Southern Corporation's third-quarter financial results for 2006 and to disclose the use of a non-GAAP financial measure for comparative analysis.

The non-GAAP financial measure excludes the effects of Ohio tax legislation from the net income and diluted earnings per share for the first nine months of 2005.

Norfolk Southern is using the non-GAAP financial measure because management believes it may be more indicative of operating results for comparison to prior periods and to other companies, especially when assessing year-over-year performance without the specific impact of the Ohio tax legislation.

No, the non-GAAP financial measure should be considered in addition to, not as a substitute for, net income and diluted earnings per share reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP).