[PDF] DELIVERING COMMITMENTS 6 févr. 2017 3

View - Download DELIVERING COMMITMENTS

Previous PDF

Next PDF

fifl

DELIVERINGCOMMITMENTS

fiflfl wayli oappp ertngvunsu$t 2 (numbers in milliohns, except per-share amounts) Desc fl fl

016 A1n2ualR1e6po2URlrlptlON

NUECMUUNUUCIHL

GpSuBl2TRuB2R16 A1Un2ualR1e6upONNHCDDLNPCMWM

Kle26pSuBlNflNUCMMINHCEEE

22

JlR2OQ1Rl22Y2V1O6SN

NM,UPNI,LL

22

JlR2OQ1Rl2Y2F6 telUFN

NM,UENI,PX

.6r6FlpFO2alR2OQ1RUlN

NH,PINH,HH

.6r6FlpF2a1n:ute2RU1e6u

LI" PL"

...1OQ2aRur6FlF2Vn2ualR1e6poU21Se6r6e6lO H

NNHCXEDNHCXUM

JRualRen21FF6e6upONflNHCPDMNHCUUD

†Rll2S1OQ2‡uA UCH

NflflNMHPNWXW

ˆue1 21OOleO

P N

NPLCUPXNPPCEPP

ˆue1 2FlVe2Nfl

fl

NUECEXPNDCXDM

‰euSŠQu FlRO'2lOEt6enNfl

NUHCUDDNUHCLED

‰Q1RlO2uteOe1pF6poU

HXW,D PED,H

‰euSŠQu FlRO'2lOEt6en2alR2OQ1RlUN

NLE,XPNLE,HI

ŽalR1e6po2R1e6u

WH,I" IX,H"

.lVe:eu:eue1 :S1a6Ue1 6‘1e6up2R1e6u2 flLM,P" LH,E"

FINANCIAL HIGHLIGHTS

016 A1n2ŽalR1e6po20lrlptlO2

(in millions)

161616525252545454

NUUCIHL

NUECMUUNPCMWM

NHCDDL

NWXW NMHP

GpSuBl2TRuB22016 A1n22ŽalR1e6upO2

(in millions) †Rll2...1OQ2† uA U2 (in millions)

Description of BusAiness

Norfolk Southern

Corporation

(NYSE: NSC) is one of the nation"s premier transportation companies. Our

Norfolk Southern

Railway Company

subsidiary operates approximately

19,500 route miles

in 22 states and the

District of Columbia,

serves every major container port in the eastern United

States, and provides

efficient connections to other rail carriers.

We operate the most

extensive intermodal network in the East and are a major transporter of coal, automotive, and industrial products.

12/11 12/12 12/13 12/14 12/15 12/16$ 250

$ 200 $ 150 $ 100 $ 50 $ 0

ˆue1 2‰euSŠQu FlR20letRpO

L 2 (dollars) H2

2JR6uR2nl1R2ptBVlRO2Q1rl2Vllp2Rlr6OlF2eu2Rl‡lSe2RlUeRuOalSe6rl21Fuae6up2uT2—‰"2UKu,2HEUI:EXC2'GBaRurlBlpeO2eu2-Ba unll2‰Q1Rl:™1OlF22J1nBlpe2—SSutpe6poU,Ÿ20lTlRlpSl2eQl2'0UlOEt6RlF2—SSutpe6poU2...Q1polOŸ2OlSe6up2uT2GelB2UDC2Kuel2U2uT2†uRB2UE:“C2a1ol2“LLC2TuR26pUTuRB1e6up22up2eQl26Ba1SeO2uT2U—‰"2Ku,2HEUI:EX,

P2 ■2 KuRTu Š2‰uteQlRp2...uRa,2...uBBup2‰euSŠ ■ ‰˜J2016 Ru1F2‰euSŠ2JR6Sl2GpFl¡ ■ ‰˜J2...uBauO6el:MEE2‰euSŠ2JR6Sl2GpFl¡ A At the beginning of 2016, Norfolk Southern launched a new 2ve-year plan to improve customer service, drive productivity and growth, and enhance shareholder value. In a year marked by economic volatility, our Thoroughbred team delivered on those commitments by meeting or exceeding key targets for the year and putting us well on our way to achieving our 2020 goals. Thanks to our hardworking employees, we improved service across the network. We achieved $250 million in savings, which surpassed our 2rst-year target of $130 million and advanced us toward our annual savings goal of $650 million by 2020. We lowered expenses in all areas of operations, idling low-volume rail yards, consolidating operating territories, and running longer trains. We rationalized 1,000 miles of secondary lines.

In a challenging environment, our commitment

to enhancing service and controlling costs pushed our 2016 operating ratio to 68.9 percent, an all-time record for the company.

The productivity improvements we achieved

also helped us to deliver strong bottom-line results. Earnings per share grew 10 percent year-over-year in 2016. a)t-t16)b)4e55a-dafbb ghNbk6f)6S56-akb)eS6Ne5b e55t)eN6t-be-kb)t116N1a-Nbb

Ntbf4ela4t5kalblaNhl-fb

Through the continued successful execution

of our strategic plan, we signi2cantly improved Norfolk Southern"s pro2tability during the year. Income from railway operations and net income both increased by 7 percent, which largely re0ected an

11 percent decrease in operating expenses.

Our success in improving the company"s

pro2tability is remarkable because weak commodity prices and a sluggish industrial economy were headwinds for the entire freight rail industry in 2016. Norfolk Southern"s annual revenue of $9.9 billion decreased by 6 percent as compared to 2015. Total volume and revenue per unit were each down 3 percent. Coal volume dropped 16 percent and general merchandise volume was 2 percent lower. Intermodal volume was

0at overall, but excluding Triple Crown, domestic intermodal grew

4 percent while international rose 7 percent. Against this backdrop,

driving net income growth was an outstanding accomplishment for Norfolk Southern employees.

DEAR FELLOW SHAREHOLDERS:

OUR MANAGEMENT TEAM

(left to right) e5e-bf4e"

1elNebfNa"elN

g655bde5e-wt y61bf8h6laf

16wab"4aa5al

)6-k3bael4elN OUR

MANAGEMENT

w4w$lc2w7

5wrfwlcf07wrf

,6$8-l0wr2wrf

In 2016, we funded $1.9 billion of property

additions to ensure safe and efficient operations and promote growth. Among strategic capital investments in 2016 were track infrastructure additions in Pennsylvania and New York on the 282-mile former

Delaware & Hudson line to strengthen our

competitive position in the Northeast. We made progress on positive train control and invested in technology that will undergird future productivity and growth.

While reinvesting in our company and its

infrastructure, we also demonstrated our continued commitment to shareholder returns.

In 2016, the board of directors approved total

cash dividend payments of $695 million, extending the company"s dividend-paying track record to 138 consecutive quarters.

In addition, Norfolk Southern repurchased

$803 million of company stock.

ADAPTING TO CHANGE

AND IMPROVING SERVICE

TO DRIVE VALUE

Over the past few years, we have changed

the way we think about our operations amid shifting market conditions and industry dynamics. With declines in coal, we are more focused than ever on services that will help convert freight from highway to rail.

Our management team began a structured

dialogue with key customers, seeking feedback on how we can improve our

service and grow our business.With our customers" input, we are developing key performance indicators to measure service against shared expectations. Using new information systems, we are refining how we track freight cars so that equipment arrives on schedule and in good repair. We are modernizing our e-commerce platforms

to provide our customers with a superior service product and to make it easier to do business with us. We are changing the way we do business in order to meet and exceed our customers" expectations and to drive superior value creation for shareholders.

A SUSTAINABLE OPERATION

As we drive growth and value through

our strategic plan, we remain committed to continuously improving sustainability practices throughout our business. For us, improvements in locomotive fuel-efficiency, reliability, and emissions reduction are cornerstones of sustainability and business strategy. We are expanding our use of energy management technologies and purchasing new locomotives that meet the most stringent emissions standards. Through our innovative locomotive rebuilding program - the ultimate in rail industry recycling - we are converting older locomotives to like-new units. These upgrades cost half as much as new models and produce locomotives that are reliable, efficient, andquotesdbs_dbs50.pdfusesText_50

[PDF] asvp droit et devoir

[PDF] at-a-glance 2017 74-02

[PDF] atelier de cartographie de sciences po

[PDF] atestat filiera tehnologica

[PDF] atkins physical chemistry 9th edition pdf

[PDF] atlas anatomia omului

[PDF] atlas compta maroc

[PDF] atlas des sols tunisiens pdf

[PDF] atlas du gouvernorat de bizerte

[PDF] atlas du gouvernorat de nabeul

[PDF] atlas géographique du monde pdf

[PDF] atlas ophtalmologie pdf

[PDF] atlas simec maroc

[PDF] atlas vent de l algérie

[PDF] atmosphère hydrosphère climats du passé ? l'avenir corrigé