Table of Contents. 3. Ridership and Revenue Ticket Revenue and Ridership Summary Ridership and Ticket Revenue by Route Current Month

Transcription

1 Monthly Performance Report For November 2012 January 25, 2013

2 Table of Contents A. Financial Results 1. Summary Performance Report versus Budget Operating Results - Month Operating Results - Year to Date Operating Results - Year end Forecast Capital Spend Summary - Month Capital Spend Summary - Year to Date Capital Spend Summary - Year end Forecast 2. Metrics Metrics 3. Ridership and Revenue Ticket Revenue and Ridership Summary Ridership and Ticket Revenue by Route Current Month Year to Date Ridership and Revenue - Sleeper Class 4. Actual and Forecast Results Income Statement by Business Lines Month, YTD & Forecast vs. Budget and Prior Year Capital Project Overview Regular Projects Mechanical Production Report Engineering Production Report 5. Actual Analysis to Prior Year Consolidated Income Statement Consolidated Statements of Cash Flows Balance Sheet Page # A-1.1 A-1.2 A-1.3 A-1.4 A-1.5 A-1.6 A-2.1 A-3.1 A-3.4 A-3.5 A-3.6 A-4.1 A-4.6 A-4.8 A-4.10 A-5.1 A-5.4 A-5.5 B. Legislative Report Legislative Updates B-1 C. Route Performance Report Fully Allocated Summary YTD Route Results C-1 D. Workforce Statistics Headcount Data D-1 Other Employee Costs D-3 E. Performance Indicators Delay Minutes Summary Report E-1 Host Railroad Delay Minutes Report E-2 On-Time Performance E-7 i

3 INANCIAL ESULTS

4 Operating Results for the Month of November 2012 ($ millions) November November Fav/(Unfav) FY13 Budget to Budget Comments Revenues: Adjusted Ticket Revenue $170.4 $179.4 ($9.0) Due to service disruptions caused by hurricane Sandy; lost ticket revenue estimated at $16M. Food & Beverage (0.7) Due to volume related decreases in ridership. State Support Total Passenger Related (9.7) Other Revenue (3.0) Reimbursable work affected by the service disruption. Total Revenues $240.5 $253.2 ($12.7) Expenses: Salaries, Wages & Benefits $172.6 $165.1 ($7.5) Increased health insurance costs due to higher claims activity. Train Operations (1.7) Unfavorable connecting motor coach costs and host railroad fees. Fuel, Power and Utilities (2.0) Due to higher diesel fuel rates and the valuation of fuel hedges due to market declines. Materials (1.1) Maintenance of Way costs related to Sandy. Facility & Communications Timing of data communications costs and lower discretionary spending on office equipment. Advertising and Sales Lower advertising and volume related decrease in credit card commissions. Casualty and Other Claims (0.4) Increase in the accrued liability for 3rd party claims activity. Depreciation, net Lower than budgeted asset base. Other Expenses Professional Fees Reflects the timing of professional fees in various corporate departments. Data Processing Services (0.7) Reflects the timing of 3rd party technology services, favorable year to date. Maintenance of Way Services (0.2) Unfavorable leased vehicles. Remaining Other Expenses Favorable environmental clean up, passenger inconvenience and financing costs. Indirect Cost Capitalized to P&E (7.4) (11.4) (4.0) Lower than budgeted capital spending. Total Expenses $342.1 $332.6 ($9.5) Net Loss from Operations $101.6 $79.4 ($22.2) Interest Expense, net Lower interest expense due to the termination of the Equity portion of a HSR facility lease. Net Loss $107.2 $86.5 ($20.7) A - 1.1

5 Operating Results for the Year to Date Period Ending November 2012 ($ millions) November November Fav/(Unfav) YTD FY13 YTD Budget to Budget Comments Revenues: Adjusted Ticket Revenue $336.8 $350.0 ($13.2) Due to service disruptions caused by hurricane Sandy; lost ticket revenue estimated at $26M. Food & Beverage (0.9) Due to volume related decreases in ridership. State Support (8.5) California, New York and Michigan contracts are unsigned as of November. Total Passenger Related (22.6) Other Revenue (5.0) Reimbursable work affected by the service disruption. Total Revenues $470.9 $498.5 ($27.6) Expenses: Salaries, Wages & Benefits $337.6 $326.5 ($11.1) Increased health insurance costs due to higher claims activity. Train Operations (0.4) Unfavorable connecting motor coach costs and host railroad fees. Fuel, Power and Utilities (5.5) Due to the valuation of fuel hedges due to market declines and higher diesel fuel rates. Materials (2.0) Maintenance of Way costs related to Sandy and truck and wheelset repairs. Facility & Communications Timing of data communications costs and lower discretionary spending on office equipment. Advertising and Sales Lower advertising and volume related decrease in credit card commissions. Casualty and Other Claims (3.0) Adjustments to increase accrued outstanding passenger and other claims liability. Depreciation, net Higher than budgeted asset base. Other Expenses Professional Fees Reflects the timing of professional fees in various corporate departments. Data Processing Services Favorable software licensing fees. Maintenance of Way Services Lower roadway maintenance costs. Remaining Other Expenses Due to favorable passenger inconvenience costs. Indirect Cost Capitalized to P&E (16.9) (23.9) (7.0) Lower than budgeted capital spend. Total Expenses $672.4 $661.5 ($10.9) Net Loss from Operations $201.5 $163.0 ($38.5) Interest Expense, net (8.6) Includes an adjustment due to the termination of the Equity portion of a HSR facility lease. Net Loss $192.9 $177.1 ($15.8) A - 1.2

6 Forecast Operating Results for the Year Ending September FY13 ($ millions) Year-End Year-End Fav/(Unfav) FY13 Budget to Budget Comments Revenues: Adjusted Ticket Revenue $2,052.6 $2,075.7 ($23.1) Lower ticket revenue due to service interruptions caused by hurricane Sandy. Food & Beverage (0.9) Due to volume related decreases in ridership. State Support Timing related to prior period revenue payments. Total Passenger Related 2, ,397.0 (16.3) Other Revenue (5.1) Reflects slightly lower reimbursable activity. Total Revenues $2,938.9 $2,960.3 ($21.4) Expenses: Salaries, Wages & Benefits $2,105.7 $2,077.9 ($27.8) Due to increases in accrued health benefit costs due to claim activity and in the Tier 2 tax rate. Train Operations (0.4) Fuel, Power and Utilities (13.9) Primarily due to the valuation of fuel hedges due to market declines. Materials (6.6) Increased maintenance of way costs due to hurricane Sandy. Facility & Communications Lower data communications costs and building maintenance expenses. Advertising and Sales Volume related decrease in commissions and credit card fees due to lower revenue. Casualty and Other Claims (0.2) Depreciation, net Lower than budgeted asset base. Other Expenses (6.7) Forecast additional roadway maintenance project costs. Indirect Cost Capitalized to P&E (132.5) (132.9) (0.4) Total Expenses $4,180.5 $4,133.1 ($47.4) Net Loss from Operations $1,241.6 $1,172.8 ($68.8) Interest Expense, net Reflects an adjustment due to the termination of the Equity portion of a HSR facility lease. Net Loss $1,298.7 $1,252.7 ($46.0) Adjustment (1) ($866.4) ($856.5) $9.9 Operating Support excluding IG's office Requirement $432.3 Federal Operating Support $396.2 Variance - Fav / (Unfav) ($36.1) (1) Adjustment to exclude Depreciation, Net Interest, Project related costs covered by Capital funding (PRJ), non-cash portion of OPEBs and the Inspector General's office. A - 1.3

7 Capital Spending for the Month of November 2012 Capital Spend ($ millions) November November Under/(Over) FY13 Authorized Authorized Comments Engineering $25.2 $40.3 $15.1 Continued delay in start up of most programs. - ADA (2.3) Timing of station improvements. Mechanical Due to the timing of electric locomotive and single level car progress payments. All Else * Primarily due to the timing of Security (DHS funded) projects. Total $59.0 $92.1 $33.1 * Excludes early buyout and Inspector General projects. A - 1.4

8 Capital Spending for the Year to Date period Ending November 2012 Capital Spend ($ millions) November November Under/(Over) YTD FY13 YTD Auth Authorized Comments Engineering $47.8 $89.6 $41.8 Delays in most programs with the exception of design and PTC work. - ADA (2.5) Timing of station improvements. Mechanical Due to the timing of electric locomotive and single level car progress payments. All Else * Primarily due to the timing of DHS Police funded projects. Total $107.9 $174.5 $66.6 * Excludes early buyout and Inspector General projects. A - 1.5

9 Forecast Capital Spending for the Year Ending September 2013 Capital Spend ($ millions) Total Authorized Under/(Over) FY13 FY13 Authorized Comments Engineering $543.1 $543.4 $0.3 - ADA Mechanical All Else (2.8) Awaiting reprograming of Labor Management System. Total $1,238.4 $1,236.6 ($1.8) Capital Spend ($ millions) by Fund Source Total Authorized Under/(Over) FY13 FY13 Authorized General Capital $711.8 $710.0 ($1.8) - ADA State and Local Other Fed & Misc Total $1,238.4 $1,236.6 ($1.8) * Excludes early buyout and Inspector General projects. A - 1.6

10 METRICS

11 Key Performance Indicators Results For the Month Ended November 30, 2012 Budget Prior Year Actual Budget/Goal Prior Year (1) Fav / (Unfav) (2) Fav / (Unfav) (2) KPIs RASM - Revenue per Seat Mile (a) $0.187 $0.191 $0.184 ($0.004) $0.003 CASM - Expenses per Seat Mile (b) $0.207 $0.206 $0.195 ($0.001) ($0.013) (NTS) Cost Recovery Ratio (c) 90% 93% 95% -2% -4% Ridership (000's) 2,560 2,690 2,631 (131) (72) Passenger Miles per total core employee (000's) On-Time Performance (Endpoint) 85.8% 85.0% 81.9% 0.8% 3.9% Customer Satisfaction Index (d) (2) 1 Host Railroad Performance (e) 867 n/a 1,026 n/a 159 Other Indicators Seat Miles (000's) 1,060,429 1,094,143 1,088,650 (33,714) (28,221) Passenger Miles (000's) 534, , ,365 (30,694) (17,623) Train Miles (000's) 3,059 3,137 3,134 (78) (75) Average Load Factor 50.4% 51.7% 50.7% -1.3% -0.3% Core diesel gallons per train mile (f) Seat Miles per total core employee (000's) Customer Injuries 168 n/a 169 n/a 1 Equipment - % of Units in Service: (g) Locomotive Fleet 83.5% n/a 85.0% n/a 1.5% Passenger Fleet 90.8% n/a 90.2% n/a -0.6% Unadjusted Ticket Revenue ($000's) $174,314 $183,750 $175,085 ($9,437) ($772) Average Ticket Yield $ $ $ $ $ Average Ticket Price $68.10 $68.30 $66.54 ($0.20) $1.56 Core Revenue per Train Mile (h) $69.46 $73.70 $69.14 ($4.24) $0.33 Core Expenses per Train Mile (i) $82.60 $77.74 $72.17 $4.86 ($10.44) Total Operating Ratio (j) (0.12) (0.17) Total Cost Recovery Ratio (k) 69.0% 75.2% 78.1% -6.2% -9.2% Average cost per gallon of diesel (l) $3.41 $3.14 $3.08 ($0.27) ($0.33) Notes: (a) This is calculated as NTS Total Operating Revenue divided by Available Seat Miles to be consistent with the KPI's. (b) This is calculated as NTS Total Operating Expense less Depreciation and non-cash OPEB's divided by Available Seat Miles. (c) This is calculated as RASM divided by CASM. (d) CSI score has a one month lag. (e) Minutes of delay per ten thousand Train Miles. (f) Beginning in February FY11, train gallons include only fuel used on operating routes. (g) As of April FY11, In Service statistics are obtained from the WMS system, which may not match prior Monthly Performance Reports. (h) This is calculated as Total Core Operating Revenue divided by Total Train Miles. (i) This is calculated as Total Core Operating Expense less Depreciation and non-cash OPEB's divided by Total Train Miles. (j) This is calculated as Total Operating Expenses by Total Operating Revenue. (k) This is calculated as Total Operating Revenue divided by Total Operating Expenses. (l) This includes net Fuel Hedge. (1) Beginning in FY10, statistics are from the Amtrak Performance Tracking (APT) System, which may not match prior Monthly Performance Reports. (2) Variances may not foot due to rounding. A - 2.1

12 Key Performance Indicators Results for Fiscal YTD November 30, 2012 Actual / Prior Year / Budget Prior Year Average * Budget/Goal Average (1)* Fav / (Unfav) (2) Fav / (Unfav) (2) KPIs RASM - Revenue per Seat Mile (a) $0.181 $0.187 $0.176 ($0.006) $0.005 CASM - Expenses per Seat Mile (b) $0.205 $0.205 $0.194 ($0.001) ($0.012) (NTS) Cost Recovery Ratio (c) 88% 92% 91% -3% -3% Ridership (000's) 5,156 5,357 5,217 (201) (61) Passenger Miles per total core employee (000's) * On-Time Performance (Endpoint) 84.2% 85.0% 81.3% -0.8% 2.9% Customer Satisfaction Index (d) (1) 2 Host Railroad Performance (e) 1,852 n/a 2,112 n/a 260 Other Indicators Seat Miles (000's) 2,120,858 2,180,475 2,174,980 (59,617) (54,122) Passenger Miles (000's) 1,073,964 1,125,264 1,095,605 (51,300) (21,642) Train Miles (000's) 6,118 6,359 6,355 (241) (238) Average Load Factor 50.6% 51.6% 50.4% -1.0% 0.3% Core diesel gallons per train mile (f) * Seat Miles per total core employee (000's) * Customer Injuries 381 n/a 365 n/a (16) Equipment - % of Units in Service: (g) Locomotive Fleet * 82.7% n/a 85.1% n/a 2.5% Passenger Fleet * 89.8% n/a 88.7% n/a -1.1% Unadjusted Ticket Revenue ($000's) $345,258 $358,460 $340,359 ($13,202) $4,899 Average Ticket Yield $ $ $ $ $ Average Ticket Price $66.96 $66.91 $65.24 $0.05 $1.72 Core Revenue per Train Mile (h) $67.65 $71.28 $65.26 ($3.62) $2.40 Core Expenses per Train Mile (i) $81.27 $75.90 $70.68 $5.37 ($10.59) Total Operating Ratio (j) (0.11) (0.12) Total Cost Recovery Ratio (k) 69.0% 74.6% 75.2% -5.7% -6.2% Average cost per gallon of diesel (l) $3.54 $3.16 $2.85 ($0.38) ($0.69) Notes: (a) This is calculated as NTS Total Operating Revenue divided by Available Seat Miles to be consistent with the KPI's. (b) This is calculated as NTS Total Operating Expense less Depreciation and non-cash OPEB's divided by Available Seat Miles. (c) This is calculated as RASM divided by CASM. (d) CSI score has a one month lag. (e) Minutes of delay per ten thousand Train Miles. (f) Beginning in February FY11, train gallons include only fuel used on operating routes. (g) As of April FY11, In Service statistics are obtained from the WMS system, which may not match prior Monthly Performance Reports. (h) This is calculated as Total Core Operating Revenue divided by Total Train Miles. (i) This is calculated as Total Core Operating Expense less Depreciation and non-cash OPEB's divided by Total Train Miles. (j) This is calculated as Total Operating Expenses by Total Operating Revenue. (k) This is calculated as Total Operating Revenue divided by Total Operating Expenses. (l) This includes net Fuel Hedge. (1) Beginning in FY10, statistics are from the Amtrak Performance Tracking (APT) System, which may not match prior Monthly Performance Reports. (2) Variances may not foot due to rounding. * Note: These metrics are reported as the YTD average. A - 2.2

13 SUMMARY METRICS Results as of November, 2012 Locomotives- RASM - Revenue % of per Units Seat out Mile of Service RASM YTD Actual - FY13 Budget/Goal Prior Year - FY12 YTD - ACTUAL YTD - BUDGET/GOAL YTD - PRIOR YEAR 28% $0.22 $0.20 % out of service Revenue per Seat Mile 26% 24% 22% 20% 18% 16% $0.20 $0.18 $0.16 $0.14 Better Worse RASM $0.19 $0.18 $0.17 $0.16 $0.15 $0.14 $ % 12% $0.12 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 Oct $0.175 Nov $0.187 Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY13 - LocoBudget/Goal 81.8% $ % $0.191 $0.175 $0.157 $0.163 $0.186 $0.204 $0.202 $0.216 $0.202 $0.202 $0.188 FY12 - LocoPrior Year 85.2% - FY12 $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $0.179 $0.12 November-12 YTD - ACTUAL $0.181 YTD - $0.187 BUDGET/GOAL YTD - PRIOR $0.176 YEAR CASM - Expenses per Seat Mile CASM YTD Actual - FY13 Budget/Goal Prior Year - FY12 YTD - ACTUAL YTD - BUDGET/GOAL YTD - PRIOR YEAR CASM - Expenses per Seat Mile $0.30 $0.28 $0.26 $0.24 $0.22 $0.20 $0.18 $0.16 Worse Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 $0.204 $0.207 Budget/Goal $0.203 $0.206 $0.203 $0.217 $0.224 $0.213 $0.222 $0.233 $0.235 $0.213 $0.223 $0.222 Prior Year - FY12 $0.193 $0.195 $0.197 $0.228 $0.218 $0.212 $0.188 $0.248 $0.243 $0.198 $0.199 $0.214 CASM $0.24 $0.23 $0.22 $0.21 $0.20 $0.19 $0.18 $0.17 $0.16 $0.15 $0.14 November-12 YTD - ACTUAL $0.205 YTD - BUDGET/GOAL $0.205 YTD - PRIOR YEAR $0.194 A - 2.3

14 SUMMARY METRICS Results as of November, 2012 (NTS) Cost Recovery Ratio CRR YTD Actual - FY13 Budget/Goal Prior Year - FY12 Actual - FY13 Budget/Goal Prior Year - FY % 120.0% RASM/CASM 110.0% 100.0% 90.0% 80.0% 70.0% Worse Core (NTS) Recovery Ratio 90.0% 80.0% 70.0% 60.0% 60.0% 50.0% Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY % 90.2% Budget/Goal 90.5% 92.6% 86.2% 72.7% 72.8% 87.5% 91.9% 86.6% 92.0% 94.6% 90.5% 84.6% Prior Year - FY % 94.7% 82.4% 65.7% 68.9% 81.7% 111.6% 78.1% 82.5% 95.4% 89.3% 83.9% 50.0% November-12 Actual - FY13 88% Budget/Goal 92% Prior Year - FY12 91% 3,000 RIDERSHIP (000's) Actual - FY13 Budget/Goal Prior Year - FY12 6,000 YTD (000's) Actual - FY13 Budget/Goal Prior Year - FY12 2,800 5,000 2,600 # of Riders 2,400 2,200 2,000 Worse # of Riders 4,000 3,000 1,800 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 2,596 2,560 Budget/Goal 2,666 2,690 2,568 2,287 2,255 2,808 2,845 2,820 2,858 2,878 2,814 2,503 Prior Year - FY12 2,586 2,631 2,511 2,229 2,232 2,763 2,764 2,735 2,672 2,752 2,570 2,389 2,000 November-12 Actual - FY13 5,156 Budget/Goal 5,357 Prior Year - FY12 5,217 A - 2.4

15 SUMMARY METRICS Results as of November, 2012 Passenger Miles per Core employee (000's) YTD Average (000's) Actual - FY13 Budget/Goal Prior Year - FY12 FY11 Avg FY10 Avg Actual - FY13 Budget/Goal FY10 Avg FY09 Avg Passenger Miles/Core Employee Worse Avg Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY Budget/Goal Prior Year - FY FY11 Avg 32 FY10 Avg 31 Passenger Miles/Core Employee November-12 Actual - FY13 30 Budget/Goal 32 FY10 Avg 32 FY09 Avg 31 Seat Miles per Core employee (000's) YTD Average (000's) Seat Miles/Core Employee Actual - FY13 Budget - FY12 Prior Year - FY12 FY11 Avg FY10 Avg Worse Avg Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY Budget - FY Prior Year - FY FY11 Avg 61 FY10 Avg 61 Seat Miles/Core Employee Actual - FY13 Budget/Goal FY11 Avg FY10 Avg November-12 Actual - FY13 59 Budget/Goal 62 FY11 Avg 61 FY10 Avg 61 A - 2.5

16 SUMMARY METRICS Results as of November, 2012 Passenger Miles/Seat Miles 70% 60% 50% 40% 30% Average Load Factor Actual - FY13 Budget/Goal Prior Year - FY12 Worse Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY % 50.4% Budget/Goal 51.5% 51.7% 50.9% 45.2% 46.8% 55.4% 57.5% 56.5% 63.3% 62.2% 60.6% 52.2% Prior Year - FY % 50.7% 50.1% 44.0% 46.7% 54.9% 55.1% 53.9% 59.4% 59.3% 56.9% 51.2% Passenger Miles/Seat Miles YTD Actual - FY13 Budget/Goal Prior Year - FY12 55% 50% 45% 40% 35% November-12 Actual - FY % Budget/Goal 51.6% Prior Year - FY % ON TIME PERFORMANCE Actual - FY13 Prior Year - FY12 Actual - FY13 YTD Prior Year - FY12 90% 100% % Trains on Time 85% 80% 75% Better % Trains on Time 80% 60% 40% 70% Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY % 85.8% Prior Year - FY % 81.9% 85.9% 85.5% 88.7% 85.8% 86.1% 84.0% 79.2% 74.5% 78.8% 85.2% 20% November-12 Actual - FY % Prior Year - FY % A - 2.6

17 SUMMARY METRICS Results as of November, 2012 TICKET REVENUE ($000's) Actual - FY13 Budget/Goal Prior Year - FY12 YTD ($000's) Actual - FY13 Budget/Goal Prior Year - FY12 $500,000 $200,000 $450,000 Ticket Revenue $180,000 $160,000 $140,000 Worse Ticket Revenue $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $120,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 170, ,314 Budget/Goal 174, , , , , , , , , , , ,511 Prior Year - FY12 165, , , , , , , , , , , ,274 $100,000 November-12 Actual - FY13 $345,258 Budget/Goal $358,460 Prior Year - FY12 $340,359 TICKET YIELD YTD Actual - FY13 Budget/Goal Prior Year - FY12 Actual - FY13 Budget/Goal Prior Year - FY12 Ticket Rev/Psgr Mile $ $ $ $ $ $ $ $ $ Better Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 $ $ Budget/Goal $ $ $ $ $ $ $ $ $ $ $ $ Prior Year - FY12 $ $ $ $ $ $ $ $ $ $ $ $ Ticket Rev/Psgr Mile $ $ $ $ $ $ $ $ $ $ $ November-12 Actual - FY13 $ Budget/Goal $ Prior Year - $ FY12 A - 2.7

18 SUMMARY METRICS Results as of November, 2012 Gallons per train mile Actual - FY13 Budget/Goal Prior Year - FY12 FY10 Avg FY09 Avg YTD Fuel Gallons/Train Mile Better Avg Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY Budget/Goal Prior Year - FY FY10 Avg 2.3 FY09 Avg 2.3 Fuel Gallons/Train Mile Actual - FY13 Budget/Goal Prior Year - FY12 FY11 FY10 Avg November-12 Actual - FY Budget/Goal 2.2 Prior Year - FY FY FY10 Avg 2.2 Average Cost per diesel gallon Actual - FY13 Budget/Goal Prior Year - FY12 YTD Actual - FY13 Budget/Goal Prior Year - FY12 Fuel Cost/Fuel Gallons $5.00 $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 Worse Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual - FY13 $3.66 $3.41 Budget/Goal $3.17 $3.14 $3.24 $3.28 $3.35 $3.26 $3.16 $3.05 $3.12 $3.19 $3.23 $2.86 Prior Year - FY12 $2.58 $3.08 $3.06 $4.18 $2.09 $3.38 $3.20 $4.64 $3.08 $2.44 $2.48 $3.63 Fuel Cost/Fuel Gallons $3.80 $3.60 $3.40 $3.20 $3.00 $2.80 $2.60 $2.40 $2.20 $2.00 November-12 Actual - FY13 $3.54 Budget/Goal $3.16 Prior Year - FY12 $2.85 A - 2.8

19 RIDERSHIP AND REVENUE

20 Ticket Revenue and Ridership Summary November 2012 Due to the impacts of Hurricane Sandy on travel in the northeast at the beginning of November FY13, overall Amtrak ridership for the month was -3% vs last year and -5% vs Budget. November ticket revenues were slightly below (-½%) last November and -5% vs Budget. At this point it is estimated that 180,000 trips worth nearly $16 million in ticket revenues were lost in November alone due to both cancelled trains and lower demand in impacted markets. Total ticket revenue losses due to the storm (October and November combined) are expected to be between -$25 million and -$27 million. Trends generally returned to normal prior to the Thanksgiving holiday period which was the best ever in Amtrak s history. Total Amtrak ridership for the Thanksgiving period was nearly 736,000 trips (+2% vs last year) with ticket revenues of $56 million (+8% vs last year) November FY13 Ridership (millions) Ticket Revenue ($ millions) % change vs. % change vs. Service FY13 FY12 Budget FY12 Budget FY13 FY12 Budget FY12 Budget Amtrak Total $174.3 $175.1 $ NEC Spine $92.5 $95.7 $ Acela $42.7 $46.5 $ Northeast Regional $49.6 $49.2 $ Other Short Distance $41.3 $40.0 $ Long Distance $40.5 $39.4 $ November FY13 Amtrak on-time performance was 86% which was +4 points vs last November. Acela OTP was 89% which was down 1 point from last year. Northeast Regional OTP was the same as last year at 84%. OTP on other short distance trains was up 5 points from last year at 87%. Long Distance OTP in November was 80%, +10 points vs last year. November FY13 gasoline prices averaged $3.52/gallon nationwide, down 8% from last month, and slightly up (+2%) from November FY12. Fiscal year-to-date through November FY13, Amtrak ridership of 5.16 million trips was -1% vs same period FY12 and -4% vs Budget. Ticket revenues of $345 million were +1% vs FY12 and -4% vs Budget October-November FY13 Ridership (millions) Ticket Revenue ($ millions) % change vs. % change vs. Service FY13 FY12 Budget FY12 Budget FY13 FY12 Budget FY12 Budget Amtrak Total $345.3 $340.4 $ NEC Spine $186.6 $186.8 $ Acela $89.3 $92.3 $ Northeast Regional $97.0 $94.3 $ Other Short Distance $78.6 $75.6 $ Long Distance $80.1 $78.0 $ A - 3.1

21 Acela Due to the impacts of Hurricane Sandy, November FY13 Acela ridership was down 15% from last November and was -16% vs Budget. Ticket revenues were -8% vs last year and -13% vs Budget. An estimated 53,000 trips worth $8.4 million in ticket revenues were lost on Acela in November due to the hurricane. Both November ridership and ticket revenues would have exceeded last year and Budget if not for the hurricane. First class ridership was -16% vs last year. Business class ridership was -15% vs last November. By market segment, November FY13 ridership was -12% vs November FY12 in south of New York markets, -19% in north of New York markets, and -13% in through New York markets. Boston-Philadelphia continues to perform well ahead of last year due to the pull-out of Southwest Airlines in that market. Thanksgiving period ridership on Acela this year was down 4% despite operating at full service Acela Year-over-Year % Change Ridership Ticket Revenues Year Ago Budget Year Ago Budget 1st Qtr. FY12-3% -5% +2% -2% 2nd Qtr FY12 +1% -5% 0% -9% 3rd Qtr FY12-1% -3% +5% +2% 4th Qtr FY12 +6% -1% +1% -2% October FY13-4% -5% +2% -4% November FY13-15% -16% -8% -13% Northeast Regional Northeast Regional November FY13 ridership was -7% vs last year and -9% vs Budget. Ticket revenues were +1% vs last year but -3% vs Budget. Hurricane Sandy impacted this route in November with estimated losses of 85,000 trips worth $5.9 million in ticket revenues. Both ridership and ticket revenues would have exceeded Budget if not for the hurricane. Business class ridership was -9% vs last November while coach class ridership was down 7%. By market segment, November FY13 ridership vs FY12 was -9% in south of New York markets, -4% in north of New York markets, but +1% in through New York markets due to the continued strong performance of the Boston-Philadelphia market resulting from the exit of Southwest Airlines earlier in Thanksgiving period ridership was up 1% from last year on Northeast Regional Northeast Regional Year-over-Year % Change Ridership Ticket Revenues Year Ago Budget Year Ago Budget 1st Qtr. FY12 +6% +3% +5% -2% 2nd Qtr FY12 +10% +4% +8% -2% 3rd Qtr FY12 +4% +6% +11% +10% 4th Qtr FY12 +6% +4% +13% +8% October FY13-3% -7% +5% -2% November FY13-7% -9% +1% -3% A - 3.2

22 State Supported & Other Short Distance Corridors November FY13 ridership on state supported and other short distance trains was +2% vs November FY12 but about -1% vs Budget. Ticket revenues were +3% vs last year but -2% vs Budget. Both ridership and ticket revenues would have been ahead of Budget if not for Hurricane Sandy which impacted this business line with estimated losses of about 39,000 trips worth $1.6 million in ticket revenues in November alone. Nearly half of the ridership losses were on the Empire NY-Albany corridor. The Downeaster in November was up 16% vs last year due in part to the extended service to Brunswick, ME. In addition, several other short distance routes also performed well during the month including Wolverine (+15%), Pacific Surfliner (+9%), San Joaquin (+14%), and Piedmont (+16%) Short Distance Corridor Year-over-Year % Change Ridership Ticket Revenues Year Ago Budget Year Ago Budget 1st Qtr. FY12 +1% +3% +8% +1% 2nd Qtr FY12 +5% 0% +9% +1% 3rd Qtr FY12 +2% -1% +7% +4% 4th Qtr FY12 +2% -5% +7% -2% October FY13 +4% 0% +5% -1% November FY13 +2% -1% +3% -2% Long Distance November FY13 long distance train ridership was generally on par with last year but -1% vs Budget. Ticket revenues were +3% vs last year but -1% vs Budget. Coach ridership was on par with last November and sleeper ridership was +2% vs last year. Losses on long distance trains in November due to Hurricane Sandy were smaller than October. About 4,000 trips worth about $350,000 were lost at the beginning of the month due to the storm impacts. The Crescent s ridership was down 13% from last year with most of it due to trips lost south of Atlanta. Ridership trends were especially strong in November on the Texas Eagle (+13%) and Coast Starlight (+8%) Long Distance Year-over-Year % Change Ridership Ticket Revenues Year Ago Budget Year Ago Budget 1st Qtr. FY12 +2% 0% +5% +1% 2nd Qtr FY12 +5% +1% +5% 0% 3rd Qtr FY12 +5% +1% +9% +2% 4th Qtr FY12 +8% -4% +10% -4% October FY13 -½% -2% +3% -2% November FY13 0% -1% +3% -1% A - 3.3

23 Confidential/Proprietary/Deliberative Process Materials November FY13 Ridership Ticket Revenue % change vs. % change vs. NEC Spine FY13 FY12 Budget FY12 Budget FY13 FY12 Budget FY12 Budget 1 - Acela 260, , , $42,729,563 $46,481,728 $49,101, Northeast Regional 647, , , $49,611,885 $49,158,350 $51,338, Special Trains 2, $176,030 $26,000 $26, Subtotal 910,332 1,004,021 1,021, $92,517,478 $95,666,078 $100,465, State Supported and Other Short Distance Corridors 3 - Ethan Allen 3,729 4,007 4, $204,895 $209,357 $216, Vermonter 6,860 6,923 7, $452,690 $433,932 $450, Albany-Niagara Falls-Toronto 30,468 32,628 32, $1,801,286 $2,008,393 $2,082, Downeaster 46,808 40,267 42, $695,661 $556,451 $607, New Haven-Springfield 32,629 32,596 32, $1,110,482 $1,079,836 $1,120, Keystone 118, , , $3,004,859 $3,153,217 $3,285, Empire (NYP-ALB) 76,267 90,644 91, $3,225,402 $3,875,151 $4,013, Chicago-St. Louis (Lincoln Service) 54,744 52,393 56, $1,452,321 $1,375,212 $1,553, Hiawatha 66,341 71,289 72, $1,340,367 $1,359,371 $1,422, Wolverine 43,656 37,980 40, $1,779,588 $1,518,443 $1,685, Chicago-Carbondale (Illini/Saluki) 29,645 27,560 27, $971,892 $907,370 $959, Chicago-Quincy (IL Zephyr/Carl Sandburg) 21,537 19,588 19, $582,764 $546,277 $577, Heartland Flyer 6,453 6,794 6, $164,593 $161,959 $165, Pacific Surfliner 222, , , $5,637,967 $4,835,083 $5,235, Cascades 64,146 66,512 67, $2,428,017 $2,536,312 $2,636, Capitol Corridor 147, , , $2,605,627 $2,517,461 $2,730, San Joaquin 106,810 93,943 98, $3,906,080 $3,524,265 $3,783, Adirondack 7,050 8,247 8, $378,588 $435,058 $451, Blue Water 14,632 15,162 15, $517,901 $521,995 $549, Washington-Lynchburg 15,037 16,260 16, $1,111,671 $1,138,792 $1,172, Washington-Newport News 53,344 51,403 52, $3,334,975 $3,039,950 $3,149, Hoosier State 3,512 2,887 2, $87,846 $73,550 $77, Kansas City-St. Louis (MO River Runner) 15,992 14,864 14, $486,931 $416,474 $437, Pennsylvanian 18,536 17,676 17, $982,022 $868,103 $899, Pere Marquette 8,607 8,476 8, $270,719 $263,712 $278, Carolinian 25,764 27,270 27, $1,594,148 $1,668,437 $1,728, Piedmont 16,619 14,333 14, $337,977 $278,493 $291, , 85 - Buses $617,860 $581,840 $584, Special Trains 2,950 1,800 1, $183,350 $104,900 $104, Subtotal 1,261,510 1,240,676 1,275, $41,268,478 $39,989,393 $42,250, Long Distance 16 - Silver Star 36,686 38,019 38, $3,013,590 $3,069,282 $3,160, Cardinal 9,236 9,739 9, $624,170 $629,965 $647, Silver Meteor 30,962 31,580 31, $3,247,239 $3,331,569 $3,433, Empire Builder 41,388 41,058 41, $4,308,920 $4,233,428 $4,382, Capitol Ltd. 18,536 17,783 17, $1,657,006 $1,536,542 $1,632, California Zephyr 28,184 27,524 29, $3,330,756 $2,992,722 $3,262, Southwest Chief 29,424 29,249 29, $3,347,080 $3,197,617 $3,279, City of New Orleans 20,980 21,143 21, $1,761,992 $1,657,188 $1,693, Texas Eagle 29,917 26,521 27, $2,302,734 $2,051,913 $2,139, Sunset Ltd. 8,418 8,448 8, $962,830 $886,980 $926, Coast Starlight 39,603 36,834 37, $3,385,715 $3,202,872 $3,333, Lake Shore Ltd. 31,757 32,106 32, $2,615,393 $2,568,561 $2,643, Palmetto 17,015 17,108 17, $1,526,122 $1,527,939 $1,573, Crescent 24,502 28,271 28, $2,636,919 $2,936,676 $3,014, Auto Train 21,177 21,210 21, $5,807,103 $5,606,439 $5,911, Subtotal 387, , , $40,527,568 $39,429,692 $41,034, Amtrak Total 2,559,627 2,631,290 2,690, $174,313,524 $175,085,163 $183,750, A - 3.4

24 Confidential/Proprietary/Deliberative Process Materials October-November FY13 Ridership Ticket Revenue % change vs. % change vs. NEC Spine FY13 FY12 Budget FY12 Budget FY13 FY12 Budget FY12 Budget 1 - Acela 549, , , $89,255,350 $92,321,886 $97,453, Northeast Regional 1,318,000 1,388,074 1,428, $96,979,277 $94,251,203 $99,416, Special Trains 3,312 1,582 1, $320,630 $238,593 $238, Subtotal 1,870,958 1,995,582 2,045, $186,555,257 $186,811,682 $197,108, State Supported and Other Short Distance Corridors 3 - Ethan Allen 7,877 8,049 8, $418,399 $415,739 $431, Vermonter 14,034 13,585 14, $850,107 $789,722 $867, Albany-Niagara Falls-Toronto 61,864 64,549 65, $3,630,451 $3,910,705 $4,040, Downeaster 92,685 83,237 87, $1,306,965 $1,122,271 $1,221, New Haven-Springfield 65,300 63,922 67, $2,122,424 $2,011,252 $2,163, Keystone 245, , , $5,815,067 $5,771,965 $6,095, Empire (NYP-ALB) 166, , , $6,881,575 $7,541,843 $7,848, Chicago-St. Louis (Lincoln Service) 107, , , $2,683,546 $2,536,742 $2,870, Hiawatha 136, , , $2,699,885 $2,672,644 $2,797, Wolverine 82,065 73,062 78, $3,173,913 $2,762,258 $3,058, Chicago-Carbondale (Illini/Saluki) 58,107 54,959 55, $1,794,985 $1,705,923 $1,803, Chicago-Quincy (IL Zephyr/Carl Sandburg) 40,241 39,023 39, $1,064,965 $1,030,033 $1,089, Heartland Flyer 13,067 13,571 13, $320,413 $318,000 $324, Pacific Surfliner 439, , , $10,491,582 $9,111,323 $9,861, Cascades 125, , , $4,575,605 $4,781,603 $4,969, Capitol Corridor 301, , , $5,023,919 $4,816,138 $5,260, San Joaquin 204, , , $6,949,309 $6,367,868 $6,837, Adirondack 17,953 18,782 19, $943,748 $968,142 $1,004, Blue Water 28,394 28,990 29, $944,913 $918,725 $961, Washington-Lynchburg 29,928 31,113 31, $2,025,134 $2,025,650 $2,087, Washington-Newport News 103,344 97,503 98, $5,974,449 $5,320,015 $5,513, Hoosier State 6,530 5,948 6, $159,158 $144,596 $151, Kansas City-St. Louis (MO River Runner) 33,202 31,607 31, $973,491 $865,905 $908, Pennsylvanian 37,072 35,633 36, $1,777,876 $1,583,082 $1,667, Pere Marquette 16,180 15,972 16, $490,696 $483,244 $506, Carolinian 52,760 54,961 56, $3,041,071 $3,086,246 $3,223, Piedmont 33,023 29,671 30, $657,689 $574,906 $599, , 85 - Buses $1,290,949 $1,127,581 $1,131, Special Trains 9,850 12,600 12, $539,311 $789,280 $789, Subtotal 2,530,725 2,466,822 2,544, $78,621,597 $75,553,402 $80,083, Long Distance 16 - Silver Star 68,367 72,712 73, $5,336,547 $5,493,172 $5,657, Cardinal 19,259 19,411 19, $1,239,403 $1,190,852 $1,226, Silver Meteor 58,446 60,467 61, $5,936,951 $6,062,369 $6,249, Empire Builder 82,118 79,355 80, $9,353,416 $8,813,102 $9,135, Capitol Ltd. 36,906 37,273 37, $3,330,949 $3,222,495 $3,350, California Zephyr 58,424 55,897 59, $7,417,327 $6,846,214 $7,507, Southwest Chief 57,437 59,377 59, $7,035,672 $6,900,479 $7,146, City of New Orleans 41,705 42,022 42, $3,424,828 $3,175,079 $3,265, Texas Eagle 55,601 50,923 51, $4,346,001 $3,928,284 $4,132, Sunset Ltd. 16,577 16,028 16, $1,900,929 $1,739,612 $1,832, Coast Starlight 76,177 70,171 71, $6,598,114 $6,175,055 $6,430, Lake Shore Ltd. 64,905 64,440 65, $5,266,948 $5,164,306 $5,344, Palmetto 31,683 32,492 32, $2,700,010 $2,712,985 $2,792, Crescent 46,275 52,691 53, $5,011,818 $5,365,168 $5,513, Auto Train 40,347 41,258 41, $11,182,044 $11,204,557 $11,682, Subtotal 754, , , $80,080,958 $77,993,729 $81,267, Amtrak Total 5,155,910 5,216,921 5,356, $345,257,812 $340,358,814 $358,459, A - 3.5

25 Confidential/Proprietary/Deliberative Process Materials Amtrak Long Distance Ridership & Ticket Revenues, FY13 vs FY12 (Sleeper Class Only) November... Ridership Ticket Revenue FY13 FY12 % Chg. FY13 FY12 % Chg Silver Star 2,941 2, $698,730 $710, Cardinal $118,230 $116, Silver Meteor 3,458 3, $931,099 $954, Empire Builder 5,533 5, $1,525,407 $1,541, Capitol Ltd. 3,389 3, $715,115 $676, California Zephyr 4,883 4, $1,526,734 $1,330, Southwest Chief 4,541 4, $1,352,327 $1,318, City of New Orleans 3,010 2, $490,199 $431, Texas Eagle 3,464 2, $743,147 $643, Sunset Ltd. 1,494 1, $415,602 $380, Coast Starlight 5,808 5, $1,344,034 $1,262, Lake Shore Ltd. 2,499 2, $681,224 $688, Crescent 2,439 2, $618,611 $650, Auto Train 8,777 8, $2,470,803 $2,269, Total 52,763 51, $13,631,263 $12,974, October-November... Ridership Ticket Revenue FY13 FY12 % Chg. FY13 FY12 % Chg Silver Star 5,117 5, $1,217,759 $1,239, Cardinal 1, $252,709 $230, Silver Meteor 6,619 6, $1,782,034 $1,818, Empire Builder 12,257 12, $3,944,551 $3,756, Capitol Ltd. 7,251 7, $1,566,059 $1,476, California Zephyr 10,774 9, $3,783,542 $3,460, Southwest Chief 10,195 9, $3,215,244 $3,152, City of New Orleans 6,176 5, $1,008,931 $876, Texas Eagle 6,468 5, $1,456,509 $1,328, Sunset Ltd. 3,030 2, $862,959 $807, Coast Starlight 12,126 11, $2,831,152 $2,611, Lake Shore Ltd. 5,697 5, $1,610,602 $1,595, Crescent 5,044 5, $1,314,569 $1,307, Auto Train 16,793 17, $4,635,769 $4,497, Total 108, , $29,482,388 $28,157, A - 3.6

26 ACTUAL ANALYSIS TO BUDGET

27 NATIONAL RAILROAD PASSENGER CORPORATION Consolidated Income Statement - Fiscal Year 2013 For the Month of NOV, 2012 Operating Business View For the Month For the Year to Date ($ thousands) 2012 NOV 2012 NOV 2011 NOV Variance Fav / (Unfav) 2013 YTD 2013 YTD 2012 YTD Variance Fav / (Unfav) Actual Budget Actual Budget Prior Year Actual Budget Actual Budget Prior Year REVENUES: Passenger Related: Ticket Revenue $170,324 $179,449 $170,777 ($9,125) ($453) $336,862 $349,982 $331,776 ($13,120) $5,086 Food & Beverage 9,933 10,609 10,291 (676) (358) 20,074 20,973 19,719 (899) 355 State Supported Train Revenue 16,142 16,081 17, (1,565) 23,672 32,163 27,419 (8,491) (3,747) Total Passenger Related Revenue 196, , ,775 (9,740) (2,376) 380, , ,914 (22,510) 1,694 Commuter Revenue 8,679 9,832 10,298 (1,153) (1,619) 17,227 19,662 24,239 (2,435) (7,012) Other: Reimbursable Revenue 6,394 11,982 13,760 (5,588) (7,366) 18,020 24,852 22,719 (6,832) (4,699) Commercial Development 6,397 6,419 6,485 (22) (88) 13,147 12,716 12, Other Transportation 11,736 11,670 9, ,898 24,079 23,469 20, ,220 Freight Access Fees & Other 6,721 4,520 5,211 2,201 1,510 10,872 9,099 10,080 1, Total Other Revenue 31,248 34,591 35,294 (3,343) (4,046) 66,118 70,136 66,320 (4,018) (202) Total Operating Revenue 236, , ,367 (14,236) (8,041) 463, , ,473 (28,963) (5,520) EXPENSES: Salaries, Wages and Benefits: Salaries 21,900 23,371 23,202 1,471 1,302 45,308 47,021 45,750 1, Wages & Overtime 87,953 89,141 89,070 1,188 1, , , ,475 (115) (4,466) Employee Benefits Expenses 60,381 49,947 43,095 (10,434) (17,286) 112,550 99,423 91,050 (13,127) (21,500) Employee Related 2,364 2,665 2, ,824 5,222 5, ,067 Total Salaries, Wages and Benefits 172, , ,736 (7,474) (14,862) 337, , ,166 (11,131) (24,457) Train Operations 24,659 23,015 20,407 (1,644) (4,252) 46,632 46,217 38,306 (415) (8,326) Fuel, Power, & Utilities 30,518 28,526 29,311 (1,992) (1,207) 62,836 57,345 54,962 (5,491) (7,874) Materials 18,021 16,914 16,262 (1,107) (1,759) 36,004 33,955 37,826 (2,049) 1,822 Facility, Communication, & Office 12,148 14,115 14,045 1,967 1,897 25,711 28,805 26,546 3, Advertising & Sales 5,145 7,434 4,378 2,289 (767) 11,835 14,052 10,012 2,217 (1,823) Casualty & Other Claims 5,105 4,668 6,468 (437) 1,363 12,298 9,335 13,079 (2,963) 781 Depreciation 55,356 57,725 54,440 2,369 (916) 110, , ,232 5,084 (2,134) Amort of Gain on Sale/Leaseback (340) (340) (340) 0 0 (680) (680) (680) 0 0 Depreciation, net of amortization 55,016 57,385 54,100 2,369 (916) 109, , ,552 5,084 (2,134) Other Expenses 26,383 26,855 21, (5,001) 46,708 54,445 44,291 7,737 (2,417) Indirect Costs Capitalized to P&E (7,433) (11,437) (11,358) (4,004) (3,925) (16,944) (23,925) (23,700) (6,981) (6,756) Total Expense 342, , ,731 (9,561) (29,429) 672, , ,040 (10,898) (50,349) Operating Income (Loss) (105,834) (82,037) (68,364) (23,797) (37,470) (208,436) (168,575) (152,567) (39,861) (55,869) Other (Income) and Expense Interest Income (165) (189) (537) (24) (372) (20,116) (377) (1,043) 19,739 19,073 Interest Expense 5,719 7,255 7,906 1,536 2,187 11,549 14,525 15,866 2,976 4,317 Other Expense - Net 5,554 7,066 7,369 1,512 1,815 (8,567) 14,148 14,823 22,715 23,390 Loss from Continuing Operations (111,388) (89,103) (75,733) (22,285) (35,655) (199,869) (182,723) (167,390) (17,146) (32,479) Discontinued Operations Net Loss (111,388) (89,103) (75,733) (22,285) (35,655) (199,869) (182,723) (167,390) (17,146) (32,479) Adjustments (1) 77,126 74,806 69,857 2,320 7, , , ,431 (21,763) (12,391) Adjusted Income or (Loss) ($34,262) ($14,297) ($5,876) ($19,965) ($28,386) ($71,829) ($32,920) ($26,959) ($38,909) ($44,870) RECONCILIATION TO CONSOLIDATED STATEMENT OF OPERATIONS: Total Operating Revenue $236,326 $250,562 $244,367 ($14,236) ($8,041) $463,953 $492,916 $469,473 ($28,963) ($5,520) Federal and State Capital Payments 4,152 2,712 2,449 1,440 1,703 6,928 5,423 4,967 1,505 1,961 Total Revenue 240, , ,816 (12,796) (6,338) 470, , ,440 (27,458) (3,559) Total Expenses 342, , ,731 (9,561) (29,429) 672, , ,040 (10,898) (50,349) Income or (Loss) from Operations (101,682) (79,325) (65,915) (22,357) (35,767) (201,508) (163,152) (147,600) (38,356) (53,908) Interest, net 5,554 7,066 7,369 1,512 1,815 (8,567) 14,148 14,823 22,715 23,390 Loss from Continuing Operations (107,236) (86,391) (73,284) (20,845) (33,952) (192,941) (177,300) (162,423) (15,641) (30,518) Discontinued Operations Net Income or (Loss) ($107,236) ($86,391) ($73,284) ($20,845) ($33,952) ($192,941) ($177,300) ($162,423) ($15,641) ($30,518) (1) Adjustments exclude Depreciation, Project Related costs (PRJ), non-cash portion of OPEBs and Inspector General's office. A - 4.1

28 NATIONAL RAILROAD PASSENGER CORPORATION Consolidated Income Statement - Fiscal Year AL For the Month of NOV, 2012 Operating excluding Project For the Month For the Year to Date ($ thousands) 2012 NOV 2012 NOV 2011 NOV Variance Fav / (Unfav) 2013 YTD 2013 YTD 2012 YTD Variance Fav / (Unfav) Actual Budget Actual Budget Prior Year Actual Budget Actual Budget Prior Year REVENUES: Passenger Related: Ticket Revenue $170,324 $179,449 $170,777 ($9,125) ($453) $336,862 $349,982 $331,776 ($13,120) $5,086 Food & Beverage 9,933 10,609 10,291 (676) (358) 20,074 20,973 19,719 (899) 355 State Supported Train Revenue 16,142 16,081 17, (1,565) 23,672 32,163 27,419 (8,491) (3,747) Total Passenger Related Revenue 196, , ,775 (9,740) (2,376) 380, , ,914 (22,510) 1,694 Commuter Revenue 8,679 9,832 10,298 (1,153) (1,619) 17,227 19,662 24,239 (2,435) (7,012) Other: Reimbursable Revenue 6,394 11,982 13,760 (5,588) (7,366) 18,020 24,852 22,719 (6,832) (4,699) Commercial Development 6,397 6,419 6,485 (22) (88) 13,147 12,716 12, Other Transportation 11,736 11,670 9, ,898 24,079 23,469 20, ,220 Freight Access Fees & Other 6,721 4,520 5,211 2,201 1,510 10,872 9,099 10,080 1, Total Other Revenue 31,248 34,591 35,294 (3,343) (4,046) 66,118 70,136 66,320 (4,018) (202) Total Operating Revenue 236, , ,367 (14,236) (8,041) 463, , ,473 (28,963) (5,520) EXPENSES: Salaries, Wages and Benefits: Salaries 21,886 23,281 22,886 1,395 1,000 45,102 46,841 45,089 1,739 (13) Wages & Overtime 87,506 88,910 88,581 1,404 1, , , , (4,623) Employee Benefits Expenses 60,245 49,790 42,733 (10,455) (17,512) 112,161 99,085 90,268 (13,076) (21,893) Employee Related 2,311 2,665 2, ,733 5,222 5, ,120 Total Salaries, Wages and Benefits 171, , ,555 (7,302) (15,393) 336, , ,712 (10,674) (25,409) Train Operations 24,659 23,015 20,407 (1,644) (4,252) 46,633 46,217 38,306 (416) (8,327) Fuel, Power, & Utilities 30,518 28,526 29,311 (1,992) (1,207) 62,836 57,345 54,959 (5,491) (7,877) Materials 17,349 15,570 15,172 (1,779) (2,177) 34,305 31,267 34,481 (3,038) 176 Facility, Communication, & Office 11,873 14,115 13,527 2,242 1,654 25,262 28,805 25,785 3, Advertising & Sales 5,145 7,434 4,378 2,289 (767) 11,835 14,052 10,012 2,217 (1,823) Casualty & Other Claims 5,105 4,668 6,468 (437) 1,363 12,298 9,335 13,079 (2,963) 781 Depreciation 55,356 57,725 54,440 2,369 (916) 110, , ,232 5,084 (2,134) Amort of Gain on Sale/Leaseback (340) (340) (340) 0 0 (680) (680) (680) 0 0 Depreciation, net of amortization 55,016 57,385 54,100 2,369 (916) 109, , ,552 5,084 (2,134) Other Expenses 25,612 26,481 21, (4,436) 45,944 53,683 44,848 7,739 (1,096) Indirect Costs Capitalized to P&E (7,996) (11,899) (12,192) (3,903) (4,196) (18,350) (24,912) (25,792) (6,562) (7,442) Total Expense 339, , ,902 (9,288) (30,327) 666, , ,942 (10,561) (52,628) Operating Income (Loss) (102,903) (79,379) (64,535) (23,524) (38,368) (202,617) (163,093) (144,469) (39,524) (58,148) Other (Income) and Expense Interest Income , ,043 (19,739) (19,073) Interest Expense 5,719 7,255 7,906 1,536 2,187 11,549 14,525 15,866 2,976 4,317 Other Expense - Net 5,884 7,444 8,443 1,560 2,559 31,665 14,902 16,909 (16,763) (14,756) Loss from Continuing Operations (108,787) (86,823) (72,978) (21,964) (35,809) (234,282) (177,995) (161,378) (56,287) (72,904) Discontinued Operations Net Loss (108,787) (86,823) (72,978) (21,964) (35,809) (234,282) (177,995) (161,378) (56,287) (72,904) A - 4.2