(EDGAR Online via COMTEX) — Item 2. Management’s Altercation and Analysis of Banking Condition and After-effects of Operations
The altercation below, as able-bodied as added portions of this Form 10-Q, accommodate advanced statements that are not based aloft absolute information. Readers can analyze these advanced statements by the use of such verbs as “expects,” “anticipates,” “believes” or agnate verbs or conjugations of such verbs. Such advanced statements are based aloft advice currently accessible to administration and management’s acumen thereof as of the date of this Form 10-Q. However, such statements are abased on and, therefore, can be afflicted by, a cardinal of alien variables over which administration has little or no control, including: antagonism and alliance aural the busline industry; the business ambiance in industries that aftermath and use items alien by rail; accident of the abuse acknowledgment of Kansas City Southern’s subsidiary, Kansas City Southern de Mexico, S.A. de C.V.; the abortion of, or abortion to renew, agreements with customers, added railroads and third parties; admission to capital; disruptions to the Company’s technology infrastructure, including its computer systems; accustomed contest such as astringent weather, hurricanes and floods; bazaar and authoritative responses to altitude change; aldermanic and authoritative developments and disputes; abuse accidents or added incidents or accidents on KCS’s abuse arrangement or at KCS’s accessories or chump accessories involving the absolution of chancy materials, including baneful assimilation hazards; aberration in prices or availability of key materials, in authentic agent fuel; annex on assertive key suppliers of amount abuse equipment; changes in balance and basic markets; dearth of able personnel; activity difficulties, including strikes and assignment stoppages; acts of agitation or accident of agitator activities; war or accident of war; calm and all-embracing economic, political and amusing conditions; the akin of barter amid the United States and Asia or Mexico; fluctuations in the peso-dollar barter rate; added appeal and cartage congestion; the aftereffect of claims and action involving the Company or its subsidiaries; and added factors affecting the operation of the business. For added altercation about anniversary accident factor, see Part II Item 7 “Management’s Altercation and Analysis of Banking Condition and After-effects of Operations” in the Company’s Annual Report on Form 10-K for the year concluded December 31, 2017, which is on book with the U.S. Balance and Barter Commission (File No. 1-4717) and Part I Item 1A – “Risk Factors” in the Form 10-K and any updates independent herein. Readers are acerb encouraged to accede these factors back evaluating advanced statements. Advanced statements should not be apprehend as a agreement of approaching achievement or after-effects and will not necessarily be authentic break of the timing when, or by which, such achievement or after-effects will be achieved. As a result, absolute outcomes or after-effects could materially adapt from those adumbrated in advanced statements. We are not beneath any obligation, and we especially abandon any obligation, to amend or adapt any advanced statements. This altercation is advised to analyze and focus on Kansas City Southern’s (“KCS” or the “Company”) after-effects of operations, assertive changes in its banking position, liquidity, basic anatomy and business developments for the periods covered by the circumscribed banking statements included beneath Item 1 of this Form 10-Q. This altercation should be apprehend in affiliation with those circumscribed banking statements and the accompanying addendum and is able by advertence to them.
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Third Division Analysis
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Revenues accommodate both acquirement for busline casework and ammunition surcharges. For the three months concluded September 30, 2018, revenues and carload/unit volumes added 6% and 4%, respectively, compared to the aforementioned aeon in 2017. For the nine months concluded September 30, 2018, revenues and carload/unit volumes added 5% and 2%, respectively, compared to the aforementioned aeon in 2017. Acquirement and aggregate added primarily due to added aesthetic artefact shipments to Mexico, partially account by a abatement in Energy, apprenticed primarily by a abridgement in account atramentous aggregate due to a Texas account cease in January 2018. Additionally, the access in revenues and volumes is attributable to favorable allusive volumes due to Blow Harvey account interruptions in 2017, partially account by arrangement bottleneck in arctic Mexico during the third division of 2018.
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KCS’s ammunition surcharges are a apparatus to acclimatize acquirement based aloft changes in ammunition prices aloft ammunition amount thresholds set in KCS’s tariffs or contracts. Ammunition customs acquirement is affected application a ammunition amount from a above-mentioned time aeon that can be up to 60 canicule earlier. In a aeon of airy ammunition prices or alteration chump business mix, changes in ammunition amount and ammunition customs acquirement may differ.
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Intermodal. Revenues added $7.7 actor for the three months concluded September 30, 2018, compared to the aforementioned aeon in 2017, due to a 7% access in carload/unit volumes and a 1% access in acquirement per carload/unit. Revenues added $18.2 actor for the nine months concluded September 30, 2018, compared to the aforementioned aeon in 2017, due to a 6% access in carload/unit volumes. The aggregate access was attributable to advance in the U.S calm and cross-border lanes, which was aided by bound barter capacity. This was partially account by lower all-embracing volumes as a aftereffect of absent business to barter antagonism primarily due to the weakness of the Mexican peso adjoin the U.S. dollar. Additionally, for the three months concluded September 30, 2018, the access in volumes is attributable to favorable allusive volumes due to Blow Harvey account interruptions in 2017. Acquirement per carload/unit added for the three and nine months concluded September 30, 2018, due to college ammunition surcharge, partially account by beneath breadth of haul.
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Compensation and benefits. Advantage and allowances decreased $5.5 actor for the three months concluded September 30, 2018, compared to the aforementioned aeon in 2017, due to a abatement in allurement advantage of about $11.0 actor and the abrasion of the Mexican peso of about $2.0 million, partially account by added headcount and accomplishment of about $6.0 actor and . . .
Oct 19, 2018
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