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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
OPERATING REVENUES $ 571,480 $ 594,990 $ 1,129,569 $ 1,169,651
OPERATING EXPENSES:        
Labor and benefits 179,943 179,838 364,251 363,554
Equipment rents 32,010 34,802 64,243 68,889
Purchased services 54,034 61,045 105,282 125,147
Depreciation and amortization 62,517 65,745 125,143 131,735
Diesel fuel used in train operations 41,504 45,623 86,141 91,774
Electricity used in train operations 2,226 2,044 4,550 4,278
Casualties and insurance 11,839 12,984 23,211 22,950
Materials 31,294 32,376 62,514 64,845
Trackage rights 21,727 23,303 43,367 44,281
Net loss/(gain) on sale and impairment of assets 980 (823) (510) (1,859)
Restructuring and related costs 7,561 9,362 15,195 9,645
Other expenses, net 31,645 25,566 62,272 54,374
Total operating expenses 477,280 491,865 955,659 979,613
OPERATING INCOME 94,200 103,125 173,910 190,038
Interest income 824 584 1,371 1,082
Interest expense (27,399) (28,940) (55,009) (54,176)
Other income/(loss), net 2,614 288 3,033 (1,752)
Income before income taxes 70,239 75,057 123,305 135,192
Provision for income taxes (18,866) (26,446) (33,126) (10,556)
Net income 51,373 48,611 90,179 124,636
Net (loss)/income attributable to noncontrolling interest (68) 4,443 32 5,370
Net income attributable to Genesee & Wyoming Inc. $ 51,441 $ 44,168 $ 90,147 $ 119,266
Basic earnings per common share attributable to Genesee & Wyoming Inc. common stockholders: $ 0.91 $ 0.74 $ 1.60 $ 1.96
Weighted average shares - Basic 56,536 59,996 56,433 60,946
Diluted earnings per common share attributable to Genesee & Wyoming Inc. common stockholders $ 0.90 $ 0.73 $ 1.58 $ 1.93
Weighted average shares - Diluted 57,272 60,879 57,182 61,841