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|
ý
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the quarterly period ended September 30, 2013
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
For the transition period from to
|
Delaware
|
|
![]() |
|
44-0663509
|
(State or other jurisdiction of
incorporation or organization)
|
|
|
(I.R.S. Employer
Identification No.)
|
|
427 West 12th Street,
Kansas City, Missouri
|
|
|
64105 |
|
(Address of principal executive offices)
|
|
|
(Zip Code)
|
Class
|
|
October 11, 2013
|
Common Stock, $0.01 per share par value
|
|
110,209,276 Shares
|
|
|
Page
|
|
PART I — FINANCIAL INFORMATION
|
|
|
Item 1.
|
||
|
||
|
||
|
||
|
||
|
||
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
PART II — OTHER INFORMATION
|
|
|
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
Item 5.
|
||
Item 6.
|
||
|
Item 1.
|
Financial Statements
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
|
(In millions, except share and per share amounts)
(Unaudited)
|
||||||||||||||
Revenues
|
$
|
621.6
|
|
|
$
|
577.4
|
|
|
$
|
1,753.7
|
|
|
$
|
1,670.2
|
|
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Compensation and benefits
|
111.4
|
|
|
108.4
|
|
|
328.4
|
|
|
323.5
|
|
||||
Purchased services
|
57.2
|
|
|
54.6
|
|
|
160.4
|
|
|
169.3
|
|
||||
Fuel
|
102.7
|
|
|
89.5
|
|
|
286.6
|
|
|
264.7
|
|
||||
Equipment costs
|
39.5
|
|
|
42.9
|
|
|
120.0
|
|
|
124.3
|
|
||||
Depreciation and amortization
|
57.2
|
|
|
49.8
|
|
|
165.0
|
|
|
146.9
|
|
||||
Materials and other
|
53.3
|
|
|
51.5
|
|
|
150.8
|
|
|
142.2
|
|
||||
Elimination of deferred statutory profit sharing liability, net
|
—
|
|
|
—
|
|
|
—
|
|
|
(43.0
|
)
|
||||
Total operating expenses
|
421.3
|
|
|
396.7
|
|
|
1,211.2
|
|
|
1,127.9
|
|
||||
Operating income
|
200.3
|
|
|
180.7
|
|
|
542.5
|
|
|
542.3
|
|
||||
Equity in net earnings of unconsolidated affiliates
|
4.8
|
|
|
4.4
|
|
|
13.8
|
|
|
15.1
|
|
||||
Interest expense
|
(18.3
|
)
|
|
(24.1
|
)
|
|
(61.2
|
)
|
|
(76.6
|
)
|
||||
Debt retirement costs
|
(2.4
|
)
|
|
—
|
|
|
(113.8
|
)
|
|
(18.0
|
)
|
||||
Foreign exchange gain (loss)
|
(1.4
|
)
|
|
3.7
|
|
|
(10.1
|
)
|
|
4.1
|
|
||||
Other expense, net
|
(0.7
|
)
|
|
(0.1
|
)
|
|
(0.5
|
)
|
|
(0.8
|
)
|
||||
Income before income taxes
|
182.3
|
|
|
164.6
|
|
|
370.7
|
|
|
466.1
|
|
||||
Income tax expense
|
63.3
|
|
|
73.9
|
|
|
131.8
|
|
|
179.2
|
|
||||
Net income
|
119.0
|
|
|
90.7
|
|
|
238.9
|
|
|
286.9
|
|
||||
Less: Net income attributable to noncontrolling interest
|
0.6
|
|
|
0.6
|
|
|
1.3
|
|
|
1.4
|
|
||||
Net income attributable to Kansas City Southern and subsidiaries
|
118.4
|
|
|
90.1
|
|
|
237.6
|
|
|
285.5
|
|
||||
Preferred stock dividends
|
0.1
|
|
|
0.1
|
|
|
0.2
|
|
|
0.2
|
|
||||
Net income available to common stockholders
|
$
|
118.3
|
|
|
$
|
90.0
|
|
|
$
|
237.4
|
|
|
$
|
285.3
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share
|
$
|
1.08
|
|
|
$
|
0.82
|
|
|
$
|
2.16
|
|
|
$
|
2.60
|
|
Diluted earnings per share
|
$
|
1.07
|
|
|
$
|
0.82
|
|
|
$
|
2.15
|
|
|
$
|
2.59
|
|
|
|
|
|
|
|
|
|
||||||||
Average shares outstanding
(in thousands):
|
|
|
|
|
|
|
|
||||||||
Basic
|
110,003
|
|
|
109,739
|
|
|
109,956
|
|
|
109,684
|
|
||||
Potentially dilutive common shares
|
370
|
|
|
388
|
|
|
361
|
|
|
377
|
|
||||
Diluted
|
110,373
|
|
|
110,127
|
|
|
110,317
|
|
|
110,061
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
|
(In millions)
(Unaudited) |
||||||||||||||
Net income
|
$
|
119.0
|
|
|
$
|
90.7
|
|
|
$
|
238.9
|
|
|
$
|
286.9
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
||||||||
Unrealized loss on cash flow hedges arising during the period, net of tax of less than $(0.1) million, $(0.2) million, less than $(0.1) million and $(0.6) million, respectively
|
(0.1
|
)
|
|
(0.4
|
)
|
|
(0.2
|
)
|
|
(1.0
|
)
|
||||
Reclassification adjustment from cash flow hedges included in net income, net of tax of $0.1 million, $0.1 million, $0.3 million and $0.2 million, respectively
|
0.1
|
|
|
0.1
|
|
|
0.6
|
|
|
0.3
|
|
||||
Amortization of prior service credit, net of tax of $(0.1) million
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
||||
Foreign currency translation adjustments, net of tax of $0.3 million
|
—
|
|
|
0.5
|
|
|
—
|
|
|
0.7
|
|
||||
Other comprehensive income (loss)
|
—
|
|
|
0.2
|
|
|
0.3
|
|
|
(0.1
|
)
|
||||
Comprehensive income
|
119.0
|
|
|
90.9
|
|
|
239.2
|
|
|
286.8
|
|
||||
Less: Comprehensive income attributable to noncontrolling interest
|
0.6
|
|
|
0.6
|
|
|
1.3
|
|
|
1.4
|
|
||||
Comprehensive income attributable to Kansas City Southern and subsidiaries
|
$
|
118.4
|
|
|
$
|
90.3
|
|
|
$
|
237.9
|
|
|
$
|
285.4
|
|
|
September 30,
2013 |
|
December 31,
2012 |
||||
|
(In millions, except share and per share amounts)
|
||||||
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
95.9
|
|
|
$
|
72.6
|
|
Accounts receivable, net
|
211.5
|
|
|
183.6
|
|
||
Materials and supplies
|
135.4
|
|
|
125.6
|
|
||
Deferred income taxes
|
96.7
|
|
|
92.1
|
|
||
Other current assets
|
78.2
|
|
|
48.4
|
|
||
Total current assets
|
617.7
|
|
|
522.3
|
|
||
Investments
|
42.6
|
|
|
51.5
|
|
||
Restricted funds
|
10.8
|
|
|
14.2
|
|
||
Property and equipment (including concession assets), net
|
6,120.4
|
|
|
5,684.8
|
|
||
Other assets
|
89.5
|
|
|
123.1
|
|
||
Total assets
|
$
|
6,881.0
|
|
|
$
|
6,395.9
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Debt due within one year
|
$
|
51.8
|
|
|
$
|
60.2
|
|
Accounts payable and accrued liabilities
|
403.0
|
|
|
364.6
|
|
||
Total current liabilities
|
454.8
|
|
|
424.8
|
|
||
Long-term debt
|
1,728.6
|
|
|
1,547.6
|
|
||
Deferred income taxes
|
985.4
|
|
|
894.2
|
|
||
Other noncurrent liabilities and deferred credits
|
129.5
|
|
|
128.6
|
|
||
Total liabilities
|
3,298.3
|
|
|
2,995.2
|
|
||
Commitments and contingencies
|
—
|
|
|
—
|
|
||
Stockholders’ equity:
|
|
|
|
||||
$25 par, 4% noncumulative, preferred stock, 840,000 shares authorized, 649,736 shares issued, 242,170 shares outstanding
|
6.1
|
|
|
6.1
|
|
||
$.01 par, common stock, 400,000,000 shares authorized; 123,352,185 shares issued; 110,208,760 and 110,131,353 shares outstanding at September 30, 2013 and December 31, 2012, respectively
|
1.1
|
|
|
1.1
|
|
||
Paid-in capital
|
939.3
|
|
|
925.3
|
|
||
Retained earnings
|
2,332.9
|
|
|
2,166.5
|
|
||
Accumulated other comprehensive loss
|
(2.1
|
)
|
|
(2.4
|
)
|
||
Total stockholders’ equity
|
3,277.3
|
|
|
3,096.6
|
|
||
Noncontrolling interest
|
305.4
|
|
|
304.1
|
|
||
Total equity
|
3,582.7
|
|
|
3,400.7
|
|
||
Total liabilities and equity
|
$
|
6,881.0
|
|
|
$
|
6,395.9
|
|
|
Nine Months Ended
|
||||||
|
September 30,
|
||||||
|
2013
|
|
2012
|
||||
|
(In millions)
(Unaudited)
|
||||||
Operating activities:
|
|
|
|
||||
Net income
|
$
|
238.9
|
|
|
$
|
286.9
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
165.0
|
|
|
146.9
|
|
||
Deferred income taxes
|
86.9
|
|
|
142.3
|
|
||
Equity in net earnings of unconsolidated affiliates
|
(13.8
|
)
|
|
(15.1
|
)
|
||
Share-based compensation
|
11.3
|
|
|
8.3
|
|
||
Excess tax benefit from share-based compensation
|
(3.7
|
)
|
|
(22.2
|
)
|
||
Deferred compensation
|
—
|
|
|
7.3
|
|
||
Elimination of deferred statutory profit sharing liability
|
—
|
|
|
(47.8
|
)
|
||
Distributions from unconsolidated affiliates
|
6.5
|
|
|
7.3
|
|
||
Debt retirement costs
|
113.8
|
|
|
18.0
|
|
||
Changes in working capital items:
|
|
|
|
||||
Accounts receivable
|
(28.8
|
)
|
|
(38.9
|
)
|
||
Materials and supplies
|
(7.0
|
)
|
|
(10.0
|
)
|
||
Other current assets
|
(16.9
|
)
|
|
3.0
|
|
||
Accounts payable and accrued liabilities
|
16.5
|
|
|
49.6
|
|
||
Other, net
|
3.8
|
|
|
(19.6
|
)
|
||
Net cash provided by operating activities
|
572.5
|
|
|
516.0
|
|
||
|
|
|
|
||||
Investing activities:
|
|
|
|
||||
Capital expenditures
|
(381.8
|
)
|
|
(296.3
|
)
|
||
Purchase of equipment under operating leases
|
(155.1
|
)
|
|
(22.9
|
)
|
||
Property investments in MSLLC
|
(25.0
|
)
|
|
(31.4
|
)
|
||
Proceeds from disposal of property
|
6.2
|
|
|
12.2
|
|
||
Other, net
|
(8.1
|
)
|
|
10.2
|
|
||
Net cash used for investing activities
|
(563.8
|
)
|
|
(328.2
|
)
|
||
|
|
|
|
||||
Financing activities:
|
|
|
|
||||
Proceeds from issuance of long-term debt
|
1,468.7
|
|
|
329.7
|
|
||
Repayment of long-term debt
|
(1,301.8
|
)
|
|
(363.8
|
)
|
||
Debt costs
|
(109.3
|
)
|
|
(19.3
|
)
|
||
Dividends paid
|
(47.6
|
)
|
|
(43.1
|
)
|
||
Excess tax benefit from share-based compensation
|
3.7
|
|
|
22.2
|
|
||
Proceeds from employee stock plans
|
0.9
|
|
|
1.1
|
|
||
Net cash provided by (used for) financing activities
|
14.6
|
|
|
(73.2
|
)
|
||
Cash and cash equivalents:
|
|
|
|
||||
Net increase during each period
|
23.3
|
|
|
114.6
|
|
||
At beginning of year
|
72.6
|
|
|
72.4
|
|
||
At end of period
|
$
|
95.9
|
|
|
$
|
187.0
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
Net income available to common stockholders for purposes of computing basic and diluted earnings per share
|
$
|
118.3
|
|
|
$
|
90.0
|
|
|
$
|
237.4
|
|
|
$
|
285.3
|
|
Weighted-average number of shares outstanding (
in thousands
):
|
|
|
|
|
|
|
|
||||||||
Basic shares
|
110,003
|
|
|
109,739
|
|
|
109,956
|
|
|
109,684
|
|
||||
Effect of dilution
|
370
|
|
|
388
|
|
|
361
|
|
|
377
|
|
||||
Diluted shares
|
110,373
|
|
|
110,127
|
|
|
110,317
|
|
|
110,061
|
|
||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share
|
$
|
1.08
|
|
|
$
|
0.82
|
|
|
$
|
2.16
|
|
|
$
|
2.60
|
|
Diluted earnings per share
|
$
|
1.07
|
|
|
$
|
0.82
|
|
|
$
|
2.15
|
|
|
$
|
2.59
|
|
|
|
|
|
|
|
|
|
||||||||
Potentially dilutive shares excluded from the calculation (
in thousands
):
|
|
|
|
|
|
|
|
||||||||
Stock options excluded as their inclusion would be anti-dilutive
|
—
|
|
|
—
|
|
|
74
|
|
|
81
|
|
|
September 30,
2013 |
|
December 31,
2012 |
||||
Land
|
$
|
209.2
|
|
|
$
|
208.9
|
|
Concession land rights
|
141.2
|
|
|
141.2
|
|
||
Road property
|
5,885.0
|
|
|
5,664.4
|
|
||
Equipment
|
1,248.4
|
|
|
962.6
|
|
||
Technology and other
|
147.3
|
|
|
148.1
|
|
||
Construction in progress
|
157.6
|
|
|
156.2
|
|
||
Total property
|
7,788.7
|
|
|
7,281.4
|
|
||
Accumulated depreciation and amortization
|
1,668.3
|
|
|
1,596.6
|
|
||
Property and equipment (including concession assets), net
|
$
|
6,120.4
|
|
|
$
|
5,684.8
|
|
|
Derivative Liabilities
|
||||||||
|
Balance Sheet Location
|
|
September 30,
2013 |
|
December 31, 2012
|
||||
Derivatives designated as hedging instruments:
|
|
|
|
|
|
||||
Interest rate swaps
|
Accounts payable and accrued liabilities
|
|
$
|
0.2
|
|
|
$
|
—
|
|
Interest rate swaps
|
Other noncurrent liabilities and deferred credits
|
|
—
|
|
|
0.9
|
|
||
Total derivatives designated as hedging instruments
|
|
|
0.2
|
|
|
0.9
|
|
||
|
|
|
|
|
|
||||
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
||||
Foreign currency forward contracts
|
Accounts payable and accrued liabilities
|
|
6.3
|
|
|
—
|
|
||
Total derivatives not designated as hedging instruments
|
|
|
6.3
|
|
|
—
|
|
||
Total derivative liabilities
|
|
|
$
|
6.5
|
|
|
$
|
0.9
|
|
Derivatives in Cash Flow
Hedging Relationships
|
|
Amount of
Gain/(Loss)
Recognized in OCI
on Derivative
(Effective Portion)
|
|
Location of Gain/(Loss) Reclassified from Accumulated
OCI into Income
(Effective Portion)
|
|
Amount of Gain/(Loss) Reclassified
from Accumulated
OCI into Income (Effective Portion)
|
||||||||||||
|
|
2013
|
|
2012
|
|
|
|
2013
|
|
2012
|
||||||||
Interest rate swaps
|
|
$
|
(0.1
|
)
|
|
$
|
(0.6
|
)
|
|
Interest expense
|
|
$
|
(0.2
|
)
|
|
$
|
(0.2
|
)
|
Total
|
|
$
|
(0.1
|
)
|
|
$
|
(0.6
|
)
|
|
|
|
$
|
(0.2
|
)
|
|
$
|
(0.2
|
)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Derivatives Not Designated as Hedging Instruments
|
|
Location of Gain/(Loss) Recognized in Income on Derivative
|
|
Amount of Gain/(Loss) Recognized in Income on Derivative
|
||||||||||||||
|
|
|
|
|
|
|
|
2013
|
|
2012
|
||||||||
Foreign currency forward contracts
|
|
Foreign exchange gain (loss)
|
|
$
|
(1.3
|
)
|
|
$
|
—
|
|
||||||||
Total
|
|
|
|
|
|
|
|
$
|
(1.3
|
)
|
|
$
|
—
|
|
Derivatives in Cash Flow
Hedging Relationships
|
|
Amount of
Gain/(Loss)
Recognized in OCI
on Derivative
(Effective Portion)
|
|
Location of Gain/(Loss) Reclassified from Accumulated
OCI into Income
(Effective Portion)
|
|
Amount of Gain/(Loss) Reclassified
from Accumulated
OCI into Income (Effective Portion)
|
||||||||||||
|
|
2013
|
|
2012
|
|
|
|
2013
|
|
2012
|
||||||||
Interest rate swaps
|
|
$
|
(0.2
|
)
|
|
$
|
(1.6
|
)
|
|
Interest expense
|
|
$
|
(0.5
|
)
|
|
$
|
(0.5
|
)
|
|
|
|
|
|
|
Debt retirement costs
|
|
(0.4
|
)
|
|
—
|
|
||||||
Total
|
|
$
|
(0.2
|
)
|
|
$
|
(1.6
|
)
|
|
|
|
$
|
(0.9
|
)
|
|
$
|
(0.5
|
)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Derivatives Not Designated as Hedging Instruments
|
|
Location of Gain/(Loss) Recognized in Income on Derivative
|
|
Amount of Gain/(Loss) Recognized in Income on Derivative
|
||||||||||||||
|
|
|
|
|
|
|
|
2013
|
|
2012
|
||||||||
Foreign currency forward contracts
|
|
Foreign exchange gain (loss)
|
|
$
|
(6.3
|
)
|
|
$
|
—
|
|
||||||||
Total
|
|
|
|
|
|
|
|
$
|
(6.3
|
)
|
|
$
|
—
|
|
|
Three Months Ended September 30, 2013
|
|
Three Months Ended September 30, 2012
|
||||||||||||||||||||
|
Kansas City
Southern
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Equity
|
|
Kansas City
Southern
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Equity
|
||||||||||||
Beginning balance
|
$
|
3,178.5
|
|
|
$
|
304.8
|
|
|
$
|
3,483.3
|
|
|
$
|
2,937.4
|
|
|
$
|
295.0
|
|
|
$
|
3,232.4
|
|
Net income
|
118.4
|
|
|
0.6
|
|
|
119.0
|
|
|
90.1
|
|
|
0.6
|
|
|
90.7
|
|
||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
0.2
|
|
||||||
Dividends on common stock
|
(23.6
|
)
|
|
—
|
|
|
(23.6
|
)
|
|
(21.5
|
)
|
|
—
|
|
|
(21.5
|
)
|
||||||
Dividends on $25 par preferred stock
|
(0.1
|
)
|
|
—
|
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
(0.1
|
)
|
||||||
Options exercised and stock subscribed, net of shares withheld for employee taxes
|
0.7
|
|
|
—
|
|
|
0.7
|
|
|
0.8
|
|
|
—
|
|
|
0.8
|
|
||||||
Tax benefit from share-based compensation
|
0.4
|
|
|
—
|
|
|
0.4
|
|
|
8.1
|
|
|
—
|
|
|
8.1
|
|
||||||
Share-based compensation
|
3.0
|
|
|
—
|
|
|
3.0
|
|
|
2.6
|
|
|
—
|
|
|
2.6
|
|
||||||
Ending balance
|
$
|
3,277.3
|
|
|
$
|
305.4
|
|
|
$
|
3,582.7
|
|
|
$
|
3,017.6
|
|
|
$
|
295.6
|
|
|
$
|
3,313.2
|
|
|
Nine Months Ended September 30, 2013
|
|
Nine Months Ended September 30, 2012
|
||||||||||||||||||||
|
Kansas City
Southern
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Equity
|
|
Kansas City
Southern
Stockholders’
Equity
|
|
Noncontrolling
Interest
|
|
Total
Equity
|
||||||||||||
Beginning balance
|
$
|
3,096.6
|
|
|
$
|
304.1
|
|
|
$
|
3,400.7
|
|
|
$
|
2,764.5
|
|
|
$
|
294.2
|
|
|
$
|
3,058.7
|
|
Net income
|
237.6
|
|
|
1.3
|
|
|
238.9
|
|
|
285.5
|
|
|
1.4
|
|
|
286.9
|
|
||||||
Other comprehensive income (loss)
|
0.3
|
|
|
—
|
|
|
0.3
|
|
|
(0.1
|
)
|
|
—
|
|
|
(0.1
|
)
|
||||||
Dividends on common stock
|
(71.0
|
)
|
|
—
|
|
|
(71.0
|
)
|
|
(64.4
|
)
|
|
—
|
|
|
(64.4
|
)
|
||||||
Dividends on $25 par preferred stock
|
(0.2
|
)
|
|
—
|
|
|
(0.2
|
)
|
|
(0.2
|
)
|
|
—
|
|
|
(0.2
|
)
|
||||||
Options exercised and stock subscribed, net of shares withheld for employee taxes
|
(1.0
|
)
|
|
—
|
|
|
(1.0
|
)
|
|
1.8
|
|
|
—
|
|
|
1.8
|
|
||||||
Tax benefit from share-based compensation
|
3.7
|
|
|
—
|
|
|
3.7
|
|
|
22.2
|
|
|
—
|
|
|
22.2
|
|
||||||
Share-based compensation
|
11.3
|
|
|
—
|
|
|
11.3
|
|
|
8.3
|
|
|
—
|
|
|
8.3
|
|
||||||
Ending balance
|
$
|
3,277.3
|
|
|
$
|
305.4
|
|
|
$
|
3,582.7
|
|
|
$
|
3,017.6
|
|
|
$
|
295.6
|
|
|
$
|
3,313.2
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
Cash dividends declared per common share
|
$
|
0.215
|
|
|
$
|
0.195
|
|
|
$
|
0.645
|
|
|
$
|
0.585
|
|
|
Nine Months Ended September 30,
|
||||||
|
2013
|
|
2012
|
||||
Balance at beginning of year
|
$
|
34.4
|
|
|
$
|
40.1
|
|
Accruals
|
6.6
|
|
|
7.5
|
|
||
Change in estimate
|
4.1
|
|
|
(7.0
|
)
|
||
Payments
|
(7.8
|
)
|
|
(5.6
|
)
|
||
Balance at end of period
|
$
|
37.3
|
|
|
$
|
35.0
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||
Revenues
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
U.S.
|
$
|
334.9
|
|
|
$
|
311.2
|
|
|
$
|
945.0
|
|
|
$
|
910.5
|
|
Mexico
|
286.7
|
|
|
266.2
|
|
|
808.7
|
|
|
759.7
|
|
||||
Total revenues
|
$
|
621.6
|
|
|
$
|
577.4
|
|
|
$
|
1,753.7
|
|
|
$
|
1,670.2
|
|
|
|
|
|
|
|
|
|
||||||||
Property and equipment (including concession assets), net
|
|
|
|
|
September 30,
2013 |
|
December 31,
2012 |
||||||||
U.S.
|
|
|
|
|
$
|
3,454.6
|
|
|
$
|
3,126.2
|
|
||||
Mexico
|
|
|
|
|
2,665.8
|
|
|
2,558.6
|
|
||||||
Total property and equipment (including concession assets), net
|
|
|
|
|
$
|
6,120.4
|
|
|
$
|
5,684.8
|
|
|
Three Months Ended September 30, 2013
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Revenues
|
$
|
—
|
|
|
$
|
295.9
|
|
|
$
|
10.7
|
|
|
$
|
325.1
|
|
|
$
|
(10.1
|
)
|
|
$
|
621.6
|
|
Operating expenses
|
1.1
|
|
|
212.3
|
|
|
9.9
|
|
|
208.8
|
|
|
(10.8
|
)
|
|
421.3
|
|
||||||
Operating income (loss)
|
(1.1
|
)
|
|
83.6
|
|
|
0.8
|
|
|
116.3
|
|
|
0.7
|
|
|
200.3
|
|
||||||
Equity in net earnings (losses) of unconsolidated affiliates
|
114.8
|
|
|
(0.2
|
)
|
|
1.8
|
|
|
4.3
|
|
|
(115.9
|
)
|
|
4.8
|
|
||||||
Interest expense
|
(0.1
|
)
|
|
(17.8
|
)
|
|
—
|
|
|
(12.3
|
)
|
|
11.9
|
|
|
(18.3
|
)
|
||||||
Debt retirement costs
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.4
|
)
|
|
—
|
|
|
(2.4
|
)
|
||||||
Foreign exchange loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.4
|
)
|
|
—
|
|
|
(1.4
|
)
|
||||||
Other income (expense), net
|
11.0
|
|
|
1.0
|
|
|
—
|
|
|
(0.2
|
)
|
|
(12.5
|
)
|
|
(0.7
|
)
|
||||||
Income before income taxes
|
124.6
|
|
|
66.6
|
|
|
2.6
|
|
|
104.3
|
|
|
(115.8
|
)
|
|
182.3
|
|
||||||
Income tax expense
|
6.2
|
|
|
25.7
|
|
|
0.9
|
|
|
30.4
|
|
|
0.1
|
|
|
63.3
|
|
||||||
Net income
|
118.4
|
|
|
40.9
|
|
|
1.7
|
|
|
73.9
|
|
|
(115.9
|
)
|
|
119.0
|
|
||||||
Less: Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
0.6
|
|
|
—
|
|
|
—
|
|
|
0.6
|
|
||||||
Net income attributable to Kansas City Southern and subsidiaries
|
118.4
|
|
|
40.9
|
|
|
1.1
|
|
|
73.9
|
|
|
(115.9
|
)
|
|
118.4
|
|
||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Comprehensive income attributable to Kansas City Southern and subsidiaries
|
$
|
118.4
|
|
|
$
|
40.9
|
|
|
$
|
1.1
|
|
|
$
|
73.9
|
|
|
$
|
(115.9
|
)
|
|
$
|
118.4
|
|
|
Three Months Ended September 30, 2012
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Revenues
|
$
|
—
|
|
|
$
|
278.0
|
|
|
$
|
6.8
|
|
|
$
|
301.7
|
|
|
$
|
(9.1
|
)
|
|
$
|
577.4
|
|
Operating expenses
|
0.9
|
|
|
202.2
|
|
|
9.0
|
|
|
194.3
|
|
|
(9.7
|
)
|
|
396.7
|
|
||||||
Operating income (loss)
|
(0.9
|
)
|
|
75.8
|
|
|
(2.2
|
)
|
|
107.4
|
|
|
0.6
|
|
|
180.7
|
|
||||||
Equity in net earnings (losses) of unconsolidated affiliates
|
86.6
|
|
|
(0.1
|
)
|
|
1.5
|
|
|
3.4
|
|
|
(87.0
|
)
|
|
4.4
|
|
||||||
Interest expense
|
(0.1
|
)
|
|
(15.1
|
)
|
|
—
|
|
|
(21.9
|
)
|
|
13.0
|
|
|
(24.1
|
)
|
||||||
Debt retirement costs
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Foreign exchange gain
|
—
|
|
|
—
|
|
|
—
|
|
|
3.7
|
|
|
—
|
|
|
3.7
|
|
||||||
Other income, net
|
11.6
|
|
|
1.9
|
|
|
—
|
|
|
—
|
|
|
(13.6
|
)
|
|
(0.1
|
)
|
||||||
Income (loss) before income taxes
|
97.2
|
|
|
62.5
|
|
|
(0.7
|
)
|
|
92.6
|
|
|
(87.0
|
)
|
|
164.6
|
|
||||||
Income tax expense (benefit)
|
7.1
|
|
|
24.3
|
|
|
(0.2
|
)
|
|
42.7
|
|
|
—
|
|
|
73.9
|
|
||||||
Net income (loss)
|
90.1
|
|
|
38.2
|
|
|
(0.5
|
)
|
|
49.9
|
|
|
(87.0
|
)
|
|
90.7
|
|
||||||
Less: Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
0.6
|
|
|
—
|
|
|
—
|
|
|
0.6
|
|
||||||
Net income (loss) attributable to Kansas City Southern and subsidiaries
|
90.1
|
|
|
38.2
|
|
|
(1.1
|
)
|
|
49.9
|
|
|
(87.0
|
)
|
|
90.1
|
|
||||||
Other comprehensive income (loss)
|
0.2
|
|
|
(0.3
|
)
|
|
—
|
|
|
0.7
|
|
|
(0.4
|
)
|
|
0.2
|
|
||||||
Comprehensive income (loss) attributable to Kansas City Southern and subsidiaries
|
$
|
90.3
|
|
|
$
|
37.9
|
|
|
$
|
(1.1
|
)
|
|
$
|
50.6
|
|
|
$
|
(87.4
|
)
|
|
$
|
90.3
|
|
|
Nine Months Ended September 30, 2013
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Revenues
|
$
|
—
|
|
|
$
|
836.1
|
|
|
$
|
30.9
|
|
|
$
|
916.6
|
|
|
$
|
(29.9
|
)
|
|
$
|
1,753.7
|
|
Operating expenses
|
3.7
|
|
|
617.8
|
|
|
28.5
|
|
|
593.0
|
|
|
(31.8
|
)
|
|
1,211.2
|
|
||||||
Operating income (loss)
|
(3.7
|
)
|
|
218.3
|
|
|
2.4
|
|
|
323.6
|
|
|
1.9
|
|
|
542.5
|
|
||||||
Equity in net earnings of unconsolidated affiliates
|
222.7
|
|
|
1.0
|
|
|
4.0
|
|
|
11.2
|
|
|
(225.1
|
)
|
|
13.8
|
|
||||||
Interest expense
|
(0.1
|
)
|
|
(49.4
|
)
|
|
—
|
|
|
(47.4
|
)
|
|
35.7
|
|
|
(61.2
|
)
|
||||||
Debt retirement costs
|
—
|
|
|
(1.5
|
)
|
|
—
|
|
|
(112.3
|
)
|
|
—
|
|
|
(113.8
|
)
|
||||||
Foreign exchange loss
|
—
|
|
|
(1.6
|
)
|
|
—
|
|
|
(8.5
|
)
|
|
—
|
|
|
(10.1
|
)
|
||||||
Other income (expense), net
|
33.4
|
|
|
4.2
|
|
|
(0.1
|
)
|
|
(0.4
|
)
|
|
(37.6
|
)
|
|
(0.5
|
)
|
||||||
Income before income taxes
|
252.3
|
|
|
171.0
|
|
|
6.3
|
|
|
166.2
|
|
|
(225.1
|
)
|
|
370.7
|
|
||||||
Income tax expense
|
14.7
|
|
|
63.9
|
|
|
2.3
|
|
|
50.8
|
|
|
0.1
|
|
|
131.8
|
|
||||||
Net income
|
237.6
|
|
|
107.1
|
|
|
4.0
|
|
|
115.4
|
|
|
(225.2
|
)
|
|
238.9
|
|
||||||
Less: Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
1.3
|
|
|
—
|
|
|
—
|
|
|
1.3
|
|
||||||
Net income attributable to Kansas City Southern and subsidiaries
|
237.6
|
|
|
107.1
|
|
|
2.7
|
|
|
115.4
|
|
|
(225.2
|
)
|
|
237.6
|
|
||||||
Other comprehensive income
|
0.3
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
|
(0.4
|
)
|
|
0.3
|
|
||||||
Comprehensive income attributable to Kansas City Southern and subsidiaries
|
$
|
237.9
|
|
|
$
|
107.5
|
|
|
$
|
2.7
|
|
|
$
|
115.4
|
|
|
$
|
(225.6
|
)
|
|
$
|
237.9
|
|
|
Nine Months Ended September 30, 2012
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Revenues
|
$
|
—
|
|
|
$
|
811.4
|
|
|
$
|
18.5
|
|
|
$
|
866.8
|
|
|
$
|
(26.5
|
)
|
|
$
|
1,670.2
|
|
Operating expenses
|
3.2
|
|
|
603.1
|
|
|
24.8
|
|
|
525.2
|
|
|
(28.4
|
)
|
|
1,127.9
|
|
||||||
Operating income (loss)
|
(3.2
|
)
|
|
208.3
|
|
|
(6.3
|
)
|
|
341.6
|
|
|
1.9
|
|
|
542.3
|
|
||||||
Equity in net earnings (losses) of unconsolidated affiliates
|
261.0
|
|
|
(0.2
|
)
|
|
4.4
|
|
|
12.3
|
|
|
(262.4
|
)
|
|
15.1
|
|
||||||
Interest expense
|
(0.1
|
)
|
|
(50.2
|
)
|
|
—
|
|
|
(66.5
|
)
|
|
40.2
|
|
|
(76.6
|
)
|
||||||
Debt retirement costs
|
—
|
|
|
(18.0
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(18.0
|
)
|
||||||
Foreign exchange gain
|
—
|
|
|
—
|
|
|
—
|
|
|
4.1
|
|
|
—
|
|
|
4.1
|
|
||||||
Other income (expense), net
|
35.2
|
|
|
9.9
|
|
|
—
|
|
|
(3.8
|
)
|
|
(42.1
|
)
|
|
(0.8
|
)
|
||||||
Income (loss) before income taxes
|
292.9
|
|
|
149.8
|
|
|
(1.9
|
)
|
|
287.7
|
|
|
(262.4
|
)
|
|
466.1
|
|
||||||
Income tax expense (benefit)
|
7.4
|
|
|
58.2
|
|
|
(0.5
|
)
|
|
114.1
|
|
|
—
|
|
|
179.2
|
|
||||||
Net income (loss)
|
285.5
|
|
|
91.6
|
|
|
(1.4
|
)
|
|
173.6
|
|
|
(262.4
|
)
|
|
286.9
|
|
||||||
Less: Net income attributable to noncontrolling interest
|
—
|
|
|
—
|
|
|
1.4
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
||||||
Net income (loss) attributable to Kansas City Southern and subsidiaries
|
285.5
|
|
|
91.6
|
|
|
(2.8
|
)
|
|
173.6
|
|
|
(262.4
|
)
|
|
285.5
|
|
||||||
Other comprehensive income (loss)
|
(0.1
|
)
|
|
(0.7
|
)
|
|
—
|
|
|
1.0
|
|
|
(0.3
|
)
|
|
(0.1
|
)
|
||||||
Comprehensive income (loss) attributable to Kansas City Southern and subsidiaries
|
$
|
285.4
|
|
|
$
|
90.9
|
|
|
$
|
(2.8
|
)
|
|
$
|
174.6
|
|
|
$
|
(262.7
|
)
|
|
$
|
285.4
|
|
|
September 30, 2013
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current assets
|
$
|
26.1
|
|
|
$
|
259.6
|
|
|
$
|
7.9
|
|
|
$
|
356.7
|
|
|
$
|
(32.6
|
)
|
|
$
|
617.7
|
|
Investments
|
—
|
|
|
9.7
|
|
|
—
|
|
|
32.9
|
|
|
—
|
|
|
42.6
|
|
||||||
Investments in consolidated subsidiaries
|
2,460.8
|
|
|
(1.7
|
)
|
|
459.4
|
|
|
—
|
|
|
(2,918.5
|
)
|
|
—
|
|
||||||
Restricted funds
|
—
|
|
|
—
|
|
|
—
|
|
|
10.8
|
|
|
—
|
|
|
10.8
|
|
||||||
Property and equipment (including concession assets), net
|
—
|
|
|
2,579.4
|
|
|
200.4
|
|
|
3,340.6
|
|
|
—
|
|
|
6,120.4
|
|
||||||
Other assets
|
1.4
|
|
|
134.6
|
|
|
—
|
|
|
37.2
|
|
|
(83.7
|
)
|
|
89.5
|
|
||||||
Total assets
|
$
|
2,488.3
|
|
|
$
|
2,981.6
|
|
|
$
|
667.7
|
|
|
$
|
3,778.2
|
|
|
$
|
(3,034.8
|
)
|
|
$
|
6,881.0
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current liabilities
|
$
|
(836.7
|
)
|
|
$
|
1,004.0
|
|
|
$
|
128.3
|
|
|
$
|
191.8
|
|
|
$
|
(32.6
|
)
|
|
$
|
454.8
|
|
Long-term debt
|
0.2
|
|
|
730.0
|
|
|
0.2
|
|
|
1,081.9
|
|
|
(83.7
|
)
|
|
1,728.6
|
|
||||||
Deferred income taxes
|
20.0
|
|
|
639.2
|
|
|
131.8
|
|
|
194.4
|
|
|
—
|
|
|
985.4
|
|
||||||
Other liabilities
|
6.8
|
|
|
95.4
|
|
|
0.5
|
|
|
26.8
|
|
|
—
|
|
|
129.5
|
|
||||||
Stockholders’ equity
|
3,298.0
|
|
|
513.0
|
|
|
101.5
|
|
|
2,283.3
|
|
|
(2,918.5
|
)
|
|
3,277.3
|
|
||||||
Noncontrolling interest
|
—
|
|
|
—
|
|
|
305.4
|
|
|
—
|
|
|
—
|
|
|
305.4
|
|
||||||
Total liabilities and equity
|
$
|
2,488.3
|
|
|
$
|
2,981.6
|
|
|
$
|
667.7
|
|
|
$
|
3,778.2
|
|
|
$
|
(3,034.8
|
)
|
|
$
|
6,881.0
|
|
|
December 31, 2012
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current assets
|
$
|
2.4
|
|
|
$
|
236.4
|
|
|
$
|
5.4
|
|
|
$
|
318.6
|
|
|
$
|
(40.5
|
)
|
|
$
|
522.3
|
|
Investments
|
—
|
|
|
23.9
|
|
|
—
|
|
|
27.6
|
|
|
—
|
|
|
51.5
|
|
||||||
Investments in consolidated subsidiaries
|
2,242.0
|
|
|
(0.2
|
)
|
|
454.8
|
|
|
—
|
|
|
(2,696.6
|
)
|
|
—
|
|
||||||
Restricted funds
|
—
|
|
|
—
|
|
|
—
|
|
|
14.2
|
|
|
—
|
|
|
14.2
|
|
||||||
Property and equipment (including concession assets), net
|
—
|
|
|
2,275.0
|
|
|
204.3
|
|
|
3,205.5
|
|
|
—
|
|
|
5,684.8
|
|
||||||
Other assets
|
1.3
|
|
|
190.6
|
|
|
—
|
|
|
67.7
|
|
|
(136.5
|
)
|
|
123.1
|
|
||||||
Total assets
|
$
|
2,245.7
|
|
|
$
|
2,725.7
|
|
|
$
|
664.5
|
|
|
$
|
3,633.6
|
|
|
$
|
(2,873.6
|
)
|
|
$
|
6,395.9
|
|
Liabilities and equity:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Current liabilities
|
$
|
(881.1
|
)
|
|
$
|
1,058.9
|
|
|
$
|
131.4
|
|
|
$
|
156.1
|
|
|
$
|
(40.5
|
)
|
|
$
|
424.8
|
|
Long-term debt
|
0.2
|
|
|
569.6
|
|
|
0.3
|
|
|
1,090.3
|
|
|
(112.8
|
)
|
|
1,547.6
|
|
||||||
Deferred income taxes
|
2.7
|
|
|
575.5
|
|
|
130.0
|
|
|
186.0
|
|
|
—
|
|
|
894.2
|
|
||||||
Other liabilities
|
6.7
|
|
|
116.4
|
|
|
0.4
|
|
|
28.8
|
|
|
(23.7
|
)
|
|
128.6
|
|
||||||
Stockholders’ equity
|
3,117.2
|
|
|
405.3
|
|
|
98.3
|
|
|
2,172.4
|
|
|
(2,696.6
|
)
|
|
3,096.6
|
|
||||||
Noncontrolling interest
|
—
|
|
|
—
|
|
|
304.1
|
|
|
—
|
|
|
—
|
|
|
304.1
|
|
||||||
Total liabilities and equity
|
$
|
2,245.7
|
|
|
$
|
2,725.7
|
|
|
$
|
664.5
|
|
|
$
|
3,633.6
|
|
|
$
|
(2,873.6
|
)
|
|
$
|
6,395.9
|
|
|
Nine Months Ended September 30, 2013
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net cash provided
|
$
|
67.3
|
|
|
$
|
187.2
|
|
|
$
|
2.3
|
|
|
$
|
320.7
|
|
|
$
|
(5.0
|
)
|
|
$
|
572.5
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Capital expenditures
|
—
|
|
|
(246.6
|
)
|
|
(1.9
|
)
|
|
(133.7
|
)
|
|
0.4
|
|
|
(381.8
|
)
|
||||||
Purchase of equipment under operating leases
|
—
|
|
|
(88.6
|
)
|
|
—
|
|
|
(66.5
|
)
|
|
—
|
|
|
(155.1
|
)
|
||||||
Property investments in MSLLC
|
—
|
|
|
—
|
|
|
—
|
|
|
(25.0
|
)
|
|
—
|
|
|
(25.0
|
)
|
||||||
Proceeds from repayment of loans to affiliates
|
—
|
|
|
97.4
|
|
|
—
|
|
|
—
|
|
|
(97.4
|
)
|
|
—
|
|
||||||
Loans to affiliates
|
—
|
|
|
(69.5
|
)
|
|
—
|
|
|
—
|
|
|
69.5
|
|
|
—
|
|
||||||
Other investing activities
|
(0.7
|
)
|
|
(5.3
|
)
|
|
(1.0
|
)
|
|
4.2
|
|
|
0.9
|
|
|
(1.9
|
)
|
||||||
Net cash used
|
(0.7
|
)
|
|
(312.6
|
)
|
|
(2.9
|
)
|
|
(221.0
|
)
|
|
(26.6
|
)
|
|
(563.8
|
)
|
||||||
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Proceeds from issuance of long-term debt
|
—
|
|
|
487.9
|
|
|
—
|
|
|
980.8
|
|
|
—
|
|
|
1,468.7
|
|
||||||
Repayment of long-term debt
|
—
|
|
|
(336.5
|
)
|
|
(0.1
|
)
|
|
(965.2
|
)
|
|
—
|
|
|
(1,301.8
|
)
|
||||||
Debt costs
|
—
|
|
|
(5.6
|
)
|
|
—
|
|
|
(103.7
|
)
|
|
—
|
|
|
(109.3
|
)
|
||||||
Dividends paid
|
(47.6
|
)
|
|
—
|
|
|
—
|
|
|
(5.0
|
)
|
|
5.0
|
|
|
(47.6
|
)
|
||||||
Proceeds from loans from affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
69.5
|
|
|
(69.5
|
)
|
|
—
|
|
||||||
Repayment of loans from affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
(97.4
|
)
|
|
97.4
|
|
|
—
|
|
||||||
Other financing activities
|
4.6
|
|
|
—
|
|
|
0.6
|
|
|
0.7
|
|
|
(1.3
|
)
|
|
4.6
|
|
||||||
Net cash provided (used)
|
(43.0
|
)
|
|
145.8
|
|
|
0.5
|
|
|
(120.3
|
)
|
|
31.6
|
|
|
14.6
|
|
||||||
Cash and cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net increase (decrease)
|
23.6
|
|
|
20.4
|
|
|
(0.1
|
)
|
|
(20.6
|
)
|
|
—
|
|
|
23.3
|
|
||||||
At beginning of year
|
0.1
|
|
|
29.6
|
|
|
0.1
|
|
|
42.8
|
|
|
—
|
|
|
72.6
|
|
||||||
At end of period
|
$
|
23.7
|
|
|
$
|
50.0
|
|
|
$
|
—
|
|
|
$
|
22.2
|
|
|
$
|
—
|
|
|
$
|
95.9
|
|
|
Nine Months Ended September 30, 2012
|
||||||||||||||||||||||
|
Parent
|
|
KCSR
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated
KCS
|
||||||||||||
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net cash provided
|
$
|
20.2
|
|
|
$
|
206.5
|
|
|
$
|
1.5
|
|
|
$
|
287.9
|
|
|
$
|
(0.1
|
)
|
|
$
|
516.0
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Capital expenditures
|
—
|
|
|
(157.6
|
)
|
|
(1.4
|
)
|
|
(137.3
|
)
|
|
—
|
|
|
(296.3
|
)
|
||||||
Purchase of equipment under operating leases
|
—
|
|
|
(19.7
|
)
|
|
—
|
|
|
(3.2
|
)
|
|
—
|
|
|
(22.9
|
)
|
||||||
Property investments in MSLLC
|
—
|
|
|
—
|
|
|
—
|
|
|
(31.4
|
)
|
|
—
|
|
|
(31.4
|
)
|
||||||
Proceeds from repayment of loans to affiliates
|
—
|
|
|
65.6
|
|
|
—
|
|
|
—
|
|
|
(65.6
|
)
|
|
—
|
|
||||||
Other investing activities
|
(0.3
|
)
|
|
5.7
|
|
|
(0.3
|
)
|
|
16.6
|
|
|
0.7
|
|
|
22.4
|
|
||||||
Net cash used
|
(0.3
|
)
|
|
(106.0
|
)
|
|
(1.7
|
)
|
|
(155.3
|
)
|
|
(64.9
|
)
|
|
(328.2
|
)
|
||||||
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Proceeds from issuance of long-term debt
|
—
|
|
|
329.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
329.7
|
|
||||||
Repayment of long-term debt
|
—
|
|
|
(348.0
|
)
|
|
(0.1
|
)
|
|
(15.7
|
)
|
|
—
|
|
|
(363.8
|
)
|
||||||
Debt costs
|
—
|
|
|
(19.3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(19.3
|
)
|
||||||
Dividends paid
|
(43.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(43.1
|
)
|
||||||
Repayment of loans from affiliates
|
—
|
|
|
—
|
|
|
—
|
|
|
(65.6
|
)
|
|
65.6
|
|
|
—
|
|
||||||
Other financing activities
|
23.3
|
|
|
—
|
|
|
0.3
|
|
|
0.3
|
|
|
(0.6
|
)
|
|
23.3
|
|
||||||
Net cash provided (used)
|
(19.8
|
)
|
|
(37.6
|
)
|
|
0.2
|
|
|
(81.0
|
)
|
|
65.0
|
|
|
(73.2
|
)
|
||||||
Cash and cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net increase
|
0.1
|
|
|
62.9
|
|
|
—
|
|
|
51.6
|
|
|
—
|
|
|
114.6
|
|
||||||
At beginning of year
|
—
|
|
|
49.0
|
|
|
0.1
|
|
|
23.3
|
|
|
—
|
|
|
72.4
|
|
||||||
At end of period
|
$
|
0.1
|
|
|
$
|
111.9
|
|
|
$
|
0.1
|
|
|
$
|
74.9
|
|
|
$
|
—
|
|
|
$
|
187.0
|
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
|
Three Months Ended
|
|
Change
Dollars
|
||||||||
|
September 30,
|
|
|||||||||
|
2013
|
|
2012
|
|
|||||||
Revenues
|
$
|
621.6
|
|
|
$
|
577.4
|
|
|
$
|
44.2
|
|
Operating expenses
|
421.3
|
|
|
396.7
|
|
|
24.6
|
|
|||
Operating income
|
200.3
|
|
|
180.7
|
|
|
19.6
|
|
|||
Equity in net earnings of unconsolidated affiliates
|
4.8
|
|
|
4.4
|
|
|
0.4
|
|
|||
Interest expense
|
(18.3
|
)
|
|
(24.1
|
)
|
|
5.8
|
|
|||
Debt retirement costs
|
(2.4
|
)
|
|
—
|
|
|
(2.4
|
)
|
|||
Foreign exchange gain (loss)
|
(1.4
|
)
|
|
3.7
|
|
|
(5.1
|
)
|
|||
Other expense, net
|
(0.7
|
)
|
|
(0.1
|
)
|
|
(0.6
|
)
|
|||
Income before income taxes
|
182.3
|
|
|
164.6
|
|
|
17.7
|
|
|||
Income tax expense
|
63.3
|
|
|
73.9
|
|
|
(10.6
|
)
|
|||
Net income
|
119.0
|
|
|
90.7
|
|
|
28.3
|
|
|||
Less: Net income attributable to noncontrolling interest
|
0.6
|
|
|
0.6
|
|
|
—
|
|
|||
Net income attributable to Kansas City Southern and subsidiaries
|
$
|
118.4
|
|
|
$
|
90.1
|
|
|
$
|
28.3
|
|
|
Nine Months Ended
|
|
Change
Dollars
|
||||||||
|
September 30,
|
|
|||||||||
|
2013
|
|
2012
|
|
|||||||
Revenues
|
$
|
1,753.7
|
|
|
$
|
1,670.2
|
|
|
$
|
83.5
|
|
Operating expenses
|
1,211.2
|
|
|
1,127.9
|
|
|
83.3
|
|
|||
Operating income
|
542.5
|
|
|
542.3
|
|
|
0.2
|
|
|||
Equity in net earnings of unconsolidated affiliates
|
13.8
|
|
|
15.1
|
|
|
(1.3
|
)
|
|||
Interest expense
|
(61.2
|
)
|
|
(76.6
|
)
|
|
15.4
|
|
|||
Debt retirement costs
|
(113.8
|
)
|
|
(18.0
|
)
|
|
(95.8
|
)
|
|||
Foreign exchange gain (loss)
|
(10.1
|
)
|
|
4.1
|
|
|
(14.2
|
)
|
|||
Other expense, net
|
(0.5
|
)
|
|
(0.8
|
)
|
|
0.3
|
|
|||
Income before income taxes
|
370.7
|
|
|
466.1
|
|
|
(95.4
|
)
|
|||
Income tax expense
|
131.8
|
|
|
179.2
|
|
|
(47.4
|
)
|
|||
Net income
|
238.9
|
|
|
286.9
|
|
|
(48.0
|
)
|
|||
Less: Net income attributable to noncontrolling interest
|
1.3
|
|
|
1.4
|
|
|
(0.1
|
)
|
|||
Net income attributable to Kansas City Southern and subsidiaries
|
$
|
237.6
|
|
|
$
|
285.5
|
|
|
$
|
(47.9
|
)
|
|
Revenues
|
|
Carloads and Units
|
|
Revenue per Carload/Unit
|
|||||||||||||||||||||||||
|
Three Months Ended
|
|
|
|
Three Months Ended
|
|
|
|
Three Months Ended
|
|
|
|||||||||||||||||||
|
September 30,
|
|
|
|
September 30,
|
|
|
|
September 30,
|
|
|
|||||||||||||||||||
|
2013
|
|
2012
|
|
% Change
|
|
2013
|
|
2012
|
|
% Change
|
|
2013
|
|
2012
|
|
% Change
|
|||||||||||||
Chemical and petroleum
|
$
|
109.5
|
|
|
$
|
106.4
|
|
|
3
|
%
|
|
62.2
|
|
|
62.8
|
|
|
(1
|
%)
|
|
$
|
1,760
|
|
|
$
|
1,694
|
|
|
4
|
%
|
Industrial and consumer products
|
148.0
|
|
|
138.0
|
|
|
7
|
%
|
|
85.8
|
|
|
85.5
|
|
|
—
|
|
|
1,725
|
|
|
1,614
|
|
|
7
|
%
|
||||
Agriculture and minerals
|
97.1
|
|
|
90.7
|
|
|
7
|
%
|
|
53.1
|
|
|
50.2
|
|
|
6
|
%
|
|
1,829
|
|
|
1,807
|
|
|
1
|
%
|
||||
Energy
|
94.6
|
|
|
89.3
|
|
|
6
|
%
|
|
84.0
|
|
|
82.5
|
|
|
2
|
%
|
|
1,126
|
|
|
1,082
|
|
|
4
|
%
|
||||
Intermodal
|
95.8
|
|
|
82.0
|
|
|
17
|
%
|
|
256.8
|
|
|
243.3
|
|
|
6
|
%
|
|
373
|
|
|
337
|
|
|
11
|
%
|
||||
Automotive
|
51.4
|
|
|
48.2
|
|
|
7
|
%
|
|
28.0
|
|
|
28.1
|
|
|
—
|
|
|
1,836
|
|
|
1,715
|
|
|
7
|
%
|
||||
Carload revenues, carloads and units
|
596.4
|
|
|
554.6
|
|
|
8
|
%
|
|
569.9
|
|
|
552.4
|
|
|
3
|
%
|
|
$
|
1,046
|
|
|
$
|
1,004
|
|
|
4
|
%
|
||
Other revenue
|
25.2
|
|
|
22.8
|
|
|
11
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total revenues (i)
|
$
|
621.6
|
|
|
$
|
577.4
|
|
|
8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
(i) Included in revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Fuel surcharge
|
$
|
86.8
|
|
|
$
|
72.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
Carloads and Units
|
|
Revenue per Carload/Unit
|
|||||||||||||||||||||||||
|
Nine Months Ended
|
|
|
|
Nine Months Ended
|
|
|
|
Nine Months Ended
|
|
|
|||||||||||||||||||
|
September 30,
|
|
|
|
September 30,
|
|
|
|
September 30,
|
|
|
|||||||||||||||||||
|
2013
|
|
2012
|
|
% Change
|
|
2013
|
|
2012
|
|
% Change
|
|
2013
|
|
2012
|
|
% Change
|
|||||||||||||
Chemical and petroleum
|
$
|
320.9
|
|
|
$
|
306.3
|
|
|
5
|
%
|
|
184.1
|
|
|
185.2
|
|
|
(1
|
%)
|
|
$
|
1,743
|
|
|
$
|
1,654
|
|
|
5
|
%
|
Industrial and consumer products
|
434.3
|
|
|
413.8
|
|
|
5
|
%
|
|
254.7
|
|
|
254.2
|
|
|
—
|
|
|
1,705
|
|
|
1,628
|
|
|
5
|
%
|
||||
Agriculture and minerals
|
264.8
|
|
|
308.6
|
|
|
(14
|
%)
|
|
149.4
|
|
|
168.1
|
|
|
(11
|
%)
|
|
1,772
|
|
|
1,836
|
|
|
(3
|
%)
|
||||
Energy
|
256.2
|
|
|
228.2
|
|
|
12
|
%
|
|
229.3
|
|
|
218.3
|
|
|
5
|
%
|
|
1,117
|
|
|
1,045
|
|
|
7
|
%
|
||||
Intermodal
|
262.2
|
|
|
226.5
|
|
|
16
|
%
|
|
722.7
|
|
|
679.4
|
|
|
6
|
%
|
|
363
|
|
|
333
|
|
|
9
|
%
|
||||
Automotive
|
148.0
|
|
|
125.3
|
|
|
18
|
%
|
|
81.0
|
|
|
75.2
|
|
|
8
|
%
|
|
1,827
|
|
|
1,666
|
|
|
10
|
%
|
||||
Carload revenues, carloads and units
|
1,686.4
|
|
|
1,608.7
|
|
|
5
|
%
|
|
1,621.2
|
|
|
1,580.4
|
|
|
3
|
%
|
|
$
|
1,040
|
|
|
$
|
1,018
|
|
|
2
|
%
|
||
Other revenue
|
67.3
|
|
|
61.5
|
|
|
9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total revenues (i)
|
$
|
1,753.7
|
|
|
$
|
1,670.2
|
|
|
5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
(i) Included in revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Fuel surcharge
|
$
|
236.9
|
|
|
$
|
208.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues by commodity group
for the three months ended |
||
September 30, 2013
|
||
Chemical and petroleum
. Revenues increased $3.1 million for the three months ended September 30, 2013, compared to the same period in 2012, due to a 4% increase in revenue per carload/unit. Revenues increased $14.6 million for the nine months ended September 30, 2013, compared to the same period in 2012, due to a 5% increase in revenue per carload/unit. Revenues increased due to higher demand for gases and chemicals used to manufacture glass and other industrial products and positive petroleum pricing. During the third quarter of 2013, petroleum volumes decreased due to weather related delays in Mexico.
|
|
![]() |
Industrial and consumer products
. Revenues increased $10.0 million for the three months ended September 30, 2013, compared to the same period in 2012, as revenue per carload/unit increased 7%. Revenues increased $20.5 million for the nine months ended September 30, 2013, compared to the same period in 2012, due to a 5% increase in revenue per carload/unit. Metals and scrap revenues increased due to a high demand for slab and steel coil driven by strength in the automotive and oil and gas industries, offset by lower building material volumes due to increasing lumber prices and a decrease in other volumes as a result of lost business in the third quarter of 2013. For the nine months ended September 30, 2013, forest products revenues increased due to pulp and paper as a result of longer average length of haul attributable to cross border manufacturing demand in Mexico for the first half of 2013.
|
|
![]() |
Agriculture and minerals
. Revenues increased $6.4 million for the three months ended September 30, 2013, compared to the same period in 2012, due to a 6% increase in carload/unit volumes and a 1% increase in revenue per carload/unit. For the nine months ended September 30, 2013, revenues decreased $43.8 million due to an 11% reduction in carload/unit volumes and a 3% decrease in revenue per carload/unit. Grain volumes and average length of haul decreased in the third quarter of 2012 through the second quarter of 2013 as a result of the severe drought conditions experienced in the Midwestern region of the U.S. during 2012.
|
|
![]() |
Revenues by commodity group
for the three months ended |
||
September 30, 2013
|
||
Energy.
Revenues increased $5.3 million for the three months ended September 30, 2013, compared to the same period in 2012, due to a 4% increase in revenue per carload/unit and a 2% increase in carload/unit volumes. Revenues increased $28.0 million for the nine months ended September 30, 2013, compared to the same period in 2012, due to a 7% increase in revenue per carload/unit and a 5% increase in carload/unit volumes. Crude oil volumes increased as a result of new business. Pet coke volumes increased due to new business and increased highway project demand for cement. Frac sand volumes also increased due to strong demand driven by higher crude oil prices. For the nine months ended September 30, 2013, these increases were partially offset by the decline in utility coal volumes due to extended coal utility unit outages.
|
|
![]() |
|
Three Months Ended
|
|
|
|||||||||||
|
September 30,
|
|
Change
|
|||||||||||
|
2013
|
|
2012
|
|
Dollars
|
|
Percent
|
|||||||
Compensation and benefits
|
$
|
111.4
|
|
|
$
|
108.4
|
|
|
$
|
3.0
|
|
|
3
|
%
|
Purchased services
|
57.2
|
|
|
54.6
|
|
|
2.6
|
|
|
5
|
%
|
|||
Fuel
|
102.7
|
|
|
89.5
|
|
|
13.2
|
|
|
15
|
%
|
|||
Equipment costs
|
39.5
|
|
|
42.9
|
|
|
(3.4
|
)
|
|
(8
|
%)
|
|||
Depreciation and amortization
|
57.2
|
|
|
49.8
|
|
|
7.4
|
|
|
15
|
%
|
|||
Materials and other
|
53.3
|
|
|
51.5
|
|
|
1.8
|
|
|
3
|
%
|
|||
Total operating expenses
|
$
|
421.3
|
|
|
$
|
396.7
|
|
|
$
|
24.6
|
|
|
6
|
%
|
|
Nine Months Ended
|
|
|
|||||||||||
|
September 30,
|
|
Change
|
|||||||||||
|
2013
|
|
2012
|
|
Dollars
|
|
Percent
|
|||||||
Compensation and benefits
|
$
|
328.4
|
|
|
$
|
323.5
|
|
|
$
|
4.9
|
|
|
2
|
%
|
Purchased services
|
160.4
|
|
|
169.3
|
|
|
(8.9
|
)
|
|
(5
|
%)
|
|||
Fuel
|
286.6
|
|
|
264.7
|
|
|
21.9
|
|
|
8
|
%
|
|||
Equipment costs
|
120.0
|
|
|
124.3
|
|
|
(4.3
|
)
|
|
(3
|
%)
|
|||
Depreciation and amortization
|
165.0
|
|
|
146.9
|
|
|
18.1
|
|
|
12
|
%
|
|||
Materials and other
|
150.8
|
|
|
142.2
|
|
|
8.6
|
|
|
6
|
%
|
|||
Elimination of deferred statutory profit sharing liability, net
|
—
|
|
|
(43.0
|
)
|
|
43.0
|
|
|
(100
|
%)
|
|||
Total operating expenses
|
$
|
1,211.2
|
|
|
$
|
1,127.9
|
|
|
$
|
83.3
|
|
|
7
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 30,
|
|
September 30,
|
||||||||
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||
Income tax expense using the statutory rate in effect
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
Tax effect of:
|
|
|
|
|
|
|
|
||||
Difference between U.S. and foreign tax rate
|
(3.1
|
%)
|
|
(3.2
|
%)
|
|
(3.1
|
%)
|
|
(3.1
|
%)
|
State and local income tax provision, net
|
1.8
|
%
|
|
1.3
|
%
|
|
1.8
|
%
|
|
1.4
|
%
|
Foreign exchange (i)
|
0.2
|
%
|
|
10.7
|
%
|
|
0.5
|
%
|
|
5.7
|
%
|
Deferred tax asset valuation allowance reduction for state net operating losses
|
—
|
|
|
(0.3
|
%)
|
|
—
|
|
|
(2.5
|
%)
|
Reversal of previously recognized benefit due to court ruling
|
—
|
|
|
—
|
|
|
1.2
|
%
|
|
—
|
|
Inflation and other, net
|
0.8
|
%
|
|
1.4
|
%
|
|
0.2
|
%
|
|
1.9
|
%
|
Effective tax rate
|
34.7
|
%
|
|
44.9
|
%
|
|
35.6
|
%
|
|
38.4
|
%
|
(i)
|
Income taxes paid in Mexico are paid in Mexican pesos, and as a result, the effective income tax rate reflects fluctuations in the value of the Mexican peso against the U.S. dollar measured by the forward exchange rate. Most significantly, any gain or loss from the revaluation of net U.S. dollar-denominated monetary liabilities (primarily debt) into Mexican pesos is included in Mexican taxable income under Mexican tax law. As a result, a strengthening of the Mexican peso against the U.S. dollar for the reporting period will generally increase the Mexican cash tax obligation and the effective income tax rate, and a weakening of the Mexican peso against the U.S. dollar for the reporting period will generally decrease the Mexican cash tax obligation and the effective tax rate. To hedge its exposure to this risk, during the first half of 2013, the Company entered into foreign currency forward contracts with an aggregate notional amount of $325.0 million. The foreign currency forward contracts are measured at fair value each period and any change in fair value is recognized in foreign exchange gain (loss) within the consolidated statements of income as described above.
|
|
Nine Months Ended
|
||||||
|
September 30,
|
||||||
|
2013
|
|
2012
|
||||
Cash flows provided by (used for):
|
|
|
|
||||
Operating activities
|
$
|
572.5
|
|
|
$
|
516.0
|
|
Investing activities
|
(563.8
|
)
|
|
(328.2
|
)
|
||
Financing activities
|
14.6
|
|
|
(73.2
|
)
|
||
Net increase in cash and cash equivalents
|
23.3
|
|
|
114.6
|
|
||
Cash and cash equivalents beginning of year
|
72.6
|
|
|
72.4
|
|
||
Cash and cash equivalents end of period
|
$
|
95.9
|
|
|
$
|
187.0
|
|
|
Nine Months Ended
|
||||||
|
September 30,
|
||||||
|
2013
|
|
2012
|
||||
Roadway capital program
|
$
|
230.9
|
|
|
$
|
210.8
|
|
Equipment
|
82.9
|
|
|
14.8
|
|
||
Capacity
|
29.8
|
|
|
25.3
|
|
||
Information technology
|
8.4
|
|
|
4.7
|
|
||
Other
|
20.0
|
|
|
18.4
|
|
||
Total capital expenditures (accrual basis)
|
372.0
|
|
|
274.0
|
|
||
Change in capital accruals
|
9.8
|
|
|
22.3
|
|
||
Total cash capital expenditures
|
$
|
381.8
|
|
|
$
|
296.3
|
|
|
|
|
|
||||
Purchase of equipment under operating leases
|
$
|
155.1
|
|
|
$
|
22.9
|
|
Item 3.
|
Quantitative and Qualitative Disclosures about Market Risk
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
Item 3.
|
Defaults upon Senior Securities
|
Item 4.
|
Mine Safety Disclosures
|
Item 5.
|
Other Information
|
Item 6.
|
Exhibits
|
Exhibit
No.
|
|
Description of Exhibits Filed with this Report
|
31.1
|
|
Principal Executive Officer’s Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 is attached to this Form 10-Q as Exhibit 31.1.
|
|
|
|
31.2
|
|
Principal Financial Officer’s Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 is attached to this Form 10-Q as Exhibit 31.2.
|
|
|
|
32.1
|
|
Principal Executive Officer’s Certification furnished Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 is attached to this Form 10-Q as Exhibit 32.1.
|
|
|
|
32.2
|
|
Principal Financial Officer’s Certification furnished Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 is attached to this Form 10-Q as Exhibit 32.2.
|
|
|
|
101
|
|
The following unaudited financial information from Kansas City Southern’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, formatted in XBRL (Extensible Business Reporting Language) includes: (i) Consolidated Statements of Income for the three and nine months ended September 30, 2013 and 2012, (ii) Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2013 and 2012, (iii) Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012, (iv) Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and 2012, and (v) the Notes to Consolidated Financial Statements.
|
|
|
|
Exhibit
No.
|
|
Description of Exhibits Incorporated by Reference
|
3.1
|
|
Amended and Restated Bylaws of Kansas City Southern, as amended and restated on September 13, 2013, filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed on September 20, 2013 (File No. 1-4717), is incorporated herein by reference as Exhibit 3.1.
|
|
|
|
4.1
|
|
Form of Rule 144A Restricted Global Note representing the 2.35% Senior Notes due 2020, filed as Exhibit 4.4.1 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., filed on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.1.
|
|
|
|
4.2
|
|
Form of Regulation S Restricted Global Note representing the 2.35% Senior Notes due 2020, filed as Exhibit 4.4.2 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., filed on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.2.
|
|
|
|
4.3
|
|
Special Global Note representing the 2.35% Senior Notes due 2020, filed as Exhibit 4.4.3 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., filed on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.3.
|
|
|
|
4.4
|
|
Form of Rule 144A Restricted Global Note representing the 3.0% Senior Notes due 2023, filed as Exhibit 4.5.1 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., filed on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.4.
|
|
|
|
4.5
|
|
Form of Regulation S Restricted Global Note representing the 3.0% Senior Notes due 2023, filed as Exhibit 4.5.2 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.5.
|
|
|
|
4.6
|
|
Special Global Note representing the 3.0% Senior Notes due 2023, filed as Exhibit 4.5.3 to the Registration Statement on Form S-4 for Kansas City Southern de México, S.A. de C.V., filed on August 26, 2013 (File No. 333-190820), is incorporated herein by reference as Exhibit 4.6.
|
|
|
|
Kansas City Southern
|
|
/s/ M
ICHAEL
W. U
PCHURCH
|
Michael W. Upchurch
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
|
|
/s/ M
ARY
K. S
TADLER
|
Mary K. Stadler
|
Senior Vice President and Chief Accounting Officer
|
(Principal Accounting Officer)
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
Expeditors International of Washington, Inc. | EXPD |
No Suppliers Found
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|