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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
OPERATING REVENUES $ 583,694 $ 603,304 $ 1,713,263 $ 1,772,955
OPERATING EXPENSES:        
Labor and benefits 175,500 175,853 539,751 539,407
Equipment rents 30,926 35,325 95,169 104,214
Purchased services 51,055 53,717 156,337 178,864
Depreciation and amortization 63,026 65,392 188,169 197,127
Diesel fuel used in train operations 41,533 45,713 127,674 137,487
Electricity used in train operations 1,794 2,742 6,344 7,020
Casualties and insurance 11,658 9,912 34,869 32,862
Materials 32,435 32,744 94,949 97,589
Trackage rights 21,266 22,838 64,633 67,119
Net gain on sale and impairment of assets (641) (642) (1,151) (2,501)
Restructuring and related costs 3,561 3,286 18,756 12,931
Other expenses, net 38,825 28,604 101,097 82,978
Total operating expenses 470,938 475,484 1,426,597 1,455,097
OPERATING INCOME 112,756 127,820 286,666 317,858
Interest income 1,244 417 2,615 1,499
Interest expense (25,386) (26,429) (80,395) (80,605)
Other income/(loss), net 1,132 1,515 4,165 (237)
Income before income taxes 89,746 103,323 213,051 238,515
Provision for income taxes (19,975) (31,013) (53,101) (41,569)
Net income 69,771 72,310 159,950 196,946
Net income attributable to noncontrolling interest 2,979 2,720 3,011 8,090
Net income attributable to Genesee & Wyoming Inc. $ 66,792 $ 69,590 $ 156,939 $ 188,856
Basic earnings per common share attributable to Genesee & Wyoming Inc. common stockholders: $ 1.18 $ 1.18 $ 2.78 $ 3.13
Weighted average shares - Basic 56,638 59,168 56,497 60,343
Diluted earnings per common share attributable to Genesee & Wyoming Inc. common stockholders $ 1.16 $ 1.16 $ 2.74 $ 3.08
Weighted average shares - Diluted 57,532 60,131 57,297 61,255