(In thousands, except per share amounts and operating statistics)
2011
2010
2009
2008
2007
Operating Data:
Revenue from operations
$
1,882,541
$
1,480,998
$
1,245,005
$
1,537,724
$
1,401,542
Depreciation and amortization expense (1)
90,820
80,362
94,784
87,083
79,863
Total operating expenses
1,648,469
1,343,259
1,174,614
1,408,654
1,271,605
Operating income
234,072
137,739
70,391
129,070
129,937
Interest expense, net (2)
13,887
12,465
12,998
13,012
12,960
Provision for income taxes
80,614
48,775
22,294
43,989
43,963
Net income
139,470
75,651
34,871
68,677
71,832
Per Share Data:
Diluted earnings per share (3)
2.44
1.35
0.62
1.23
1.28
Balance Sheet Data:
Cash, cash equivalents and short-term investments
75,850
5,450
4,171
28,965
30,703
Current assets
331,852
222,582
174,175
209,230
216,277
Total assets
1,513,074
1,239,881
1,159,278
1,074,905
981,048
Current liabilities
204,810
170,046
148,125
142,190
127,723
Long-term debt (including current maturities)
269,185
271,217
305,532
251,989
263,754
Shareholders’ equity
856,519
668,649
593,000
558,129
489,452
Operating Statistics:
Operating ratio
87.6
%
90.7
%
94.3
%
91.6
%
90.7
%
Revenue per hundredweight
$
14.72
$
13.09
$
12.70
$
13.88
$
13.30
Revenue per intercity mile
$
4.83
$
4.38
$
4.16
$
4.60
$
4.31
Intercity miles (in thousands)
389,588
338,504
299,330
334,219
325,268
Total tons (in thousands)
6,397
5,656
4,902
5,545
5,271
Total shipments (in thousands)
7,256
6,327
5,750
6,691
6,765
Average length of haul (4) (miles)
952
948
928
901
926
(1)
Our 2010 results reflect reductions in our depreciation and amortization expenses of approximately $12.7 million, due to changes in the estimated useful lives and salvage values of certain equipment, which are described further under “Critical Accounting Policies” below.
(2)
For the purpose of this table, interest expense is presented net of interest income.
(3)
Per share data has been restated retroactively for the three-for-two stock split effected in August 2010.
(4)
We refined our average length of haul in 2008 by excluding miles driven by our agent carriers. As a result, our average length of haul is restated for the year ended December 31, 2007.
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