联合太平洋Union Pacific Corporation (UNP) 2002年年度报告「NYSE」.pdf

1、Letter toShareholders1625PAGEBuildingAmericaAnnual Reporton Form10-KUnion Pacific Corporation 2002 Annual Report$MILLIONSNet IncomeUnion Pacific Corporation*excluding$72 million after-tax work force reduction charge99000102$810$914*$842$966$1,341$MILLIONSOperating IncomeUnion Pacific Corporation9900

2、0102$1,804$1,903$2,072$2,324$MILLIONSOperating RevenuesUnion Pacific Corporation99000102$11,237$11,878$11,973$12,4912002 Stock Price ComparisonUNPDOWS&P-17%-23%+5%Millions of Dollars,Except Ratios and Per Share Amounts200220012000aFor the YearOperating Revenue.$12,491$11,973$11,878Operating Income .

3、2,3242,0721,903Net Income.1,341966842Net Income Per Share-Basic .5.323.903.42Net Income Per Share-Diluted .5.053.773.34Dividends Per Share.0.830.800.80Operating Cash Flow.2,2501,9922,053Capital Investments .1,8871,7361,783At Year-EndTotal Assets .$32,764$31,551$30,917Total Debt .7,7048,0808,351Commo

4、n ShareholdersEquity.10,6519,5758,662Equity Per Common Share .41.9938.2635.09Financial Ratios(%)Operating Margin.18.617.316.0Operating Ratio .81.482.784.0Debt to Capital Employedb.38.842.245.1Return on Average Common ShareholdersEquity.13.310.610.1a2000 operating income and net income included a wor

5、k force reduction charge of$115 million pre-tax and$72 million after-tax(see note 13 to the Consolidated Financial Statements in Form 10-K).bDebt to capital employed is computed as follows:total debt divided by debt plus equity plus convertible preferred securities.F I N A N C I A L H I G H L I G H

6、T S1UNION PACIFICOur annual report will detail theaccomplishments of 2002,but letme share some of the highlights:Commitments Made and KeptOur targets for 2002 were toachieve 1 to 3 percent revenuegrowth,a rail-operating ratio below80 percent,free cash flow of$350million to$450 million,andimproved re