Total carloads for January 2006 were 112,829, up 6.9% from 105,507 in January 2005. The acquisition of the Alcoa railroads and the Fremont line in Michigan net of the impact of the sale of the San Luis and Rio Grande Railroad in December 2005 and the three Alberta properties in January 2006, accounted for 1,396 carloads of the increase. On a "same railroad" basis, January 2006 carloads increased 5.9% to 107,170, from 101,244 in January 2005. The 5,926 carload increase in 2006 was driven primarily by strong demand for Coal, an increase in shipments of Lumber & Forest Products, and Bridge Traffic.
Historically, the Company has found that carload information may be indicative of freight revenue on its railroads, but may not be indicative of total revenue, operating expenses, operating income or net income. Attached is a comparison of North America carloads by commodity group for the periods ended January 31, 2006 and 2005. "Same railroad" totals exclude carloads associated with railroads, or portions of railroads, sold or acquired by the Company after January 1, 2005.
