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Annual Reports

F I N A N C I A L   H I G H L I G H T S
Union Pacific Corporation and Subsidiary Companies


Millions of Dollars, Except Ratios and Per Share Amounts 2000  [a] 1999  [b] 1998 [c]

For the Year
Operating Revenues $11,878 $11,237 $10,514  
Operating Income (Loss) 1,903 1,804 (171)  
Income (Loss) from Continuing Operations 842 783 (633)  
Income from Discontinued Operations 27  
Net Income (Loss) 842 810 (633)  
Per Share – Basic:
Income (Loss) from Continuing Operations 3.42 3.17 (2.57)  
Income from Discontinued Operations 0.11  
Net Income (Loss) 3.42 3.28 (2.57)  
Per Share – Diluted:
Income (Loss) from Continuing Operations 3.34 3.12 (2.57)  
Income from Discontinued Operations 0.10  
Net Income (Loss) 3.34 3.22 (2.57)  
Dividends Per Share 0.80 0.80 0.80  
Operating Cash Flow 1,958 1,869 565  
Capital Investments 1,783 1,834 2,111  

At Year-End
Assets $30,499 $29,888 $29,374  
Total Debt 8,351 8,640 8,692  
Common Shareholders' Equity 8,662 8,001 7,393  
Equity Per Common Share 35.09 32.29 29.88  

Financial Ratios (%)
Operating Ratio 84.0 83.9 101.6  
Debt to Capital Employed 45.1 47.6 49.4  
Return on Average Common Shareholders' Equity 10.1 10.5 (8.1)  

[a] 2000 operating income and net income included a work force reduction charge of $115 million pre-tax and $72 million after-tax (see note 15 to the consolidated financial statements).

[b] 1999 income from discontinued operations included a one-time, after-tax gain of $27 million from the adjustment of a liability established in connection with the discontinued operations of a former subsidiary (see note 3 to the consolidated financial statements).

[c] 1998 operating loss and net loss included a $547 million pre- and after-tax charge for the revaluation of Overnite goodwill (see note 1 to the consolidated financial statements).

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