EP 558
Docket Yard · docketyard.org/d/EP-558 · entries shown: all, newest first
RAILROAD COST OF CAPITAL - 1996
Caption from the Board’s record. Sub-dockets, included below: EP 558 (Sub-No. 1), EP 558 (Sub-No. 2), EP 558 (Sub-No. 3), EP 558 (Sub-No. 4), EP 558 (Sub-No. 5), EP 558 (Sub-No. 6), EP 558 (Sub-No. 7), EP 558 (Sub-No. 80), EP 558 (Sub-No. 9), EP 558 (Sub-No. 10), EP 558 (Sub-No. 11), EP 558 (Sub-No. 12), EP 558 (Sub-No. 13), EP 558 (Sub-No. 14), EP 558 (Sub-No. 15), EP 558 (Sub-No. 16), EP 558 (Sub-No. 17), EP 558 (Sub-No. 18), EP 558 (Sub-No. 19), EP 558 (Sub-No. 20), EP 558 (Sub-No. 21), EP 558 (Sub-No. 22), EP 558 (Sub-No. 23), EP 558 (Sub-No. 24), EP 558 (Sub-No. 25), EP 558 (Sub-No. 26), EP 558 (Sub-No. 27), EP 558 (Sub-No. 28), EP 558 (Sub-No. 29)
196 filings, 82 decisions and 0 environmental comments observed here; last checked 11 Oct 2026, 01:36 UTC; last new entry 10 Sep 2026, 15:21 UTC.
Entries
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served (printed as 9/10/2026)DecisionFOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY WAS 9.79% FOR 2025.
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(printed as 7/27/2026)CommentsAssociation of American Railroads
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(printed as 7/7/2026)ReplyWestern Coal Traffic League
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(printed as 6/17/2026)SupplementAssociation of American Railroads
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served (printed as 6/10/2026)DecisionDIRECTED ASSOCIATION OF AMERICAN RAILROADS TO SUBMIT A REVISED VERSION OF ITS COMMENTS (INCLUDING WORKPAPERS) CORRECTING THE ERRORS IDENTIFIED IN THIS DECISION BY JUNE 17, 2026.
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(printed as 5/22/2026)CommentsAssociation of American Railroads
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(printed as 5/1/2026)NoticeAssociation of American Railroads
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(printed as 4/15/2026)NoticeWestern Coal Traffic League
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served (printed as 3/20/2026)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2025.
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(printed as 1/2/2026)Substitution310639Substitution/Withdrawal Of Counsel · in EP 558 (Sub-No. 26) · also entered in EP 558 (Sub-No. 27)Association of American Railroads
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served (printed as 7/21/2025)DecisionFOUND THAT THE COST OF CAPITAL FOR RAILROAD INDUSTRY WAS 10.68% FOR 2024.
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(printed as 5/22/2025)RebuttalAssociation of American Railroads
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(printed as 5/5/2025)ReplyWestern Coal Traffic League
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(printed as 4/14/2025)CommentsAssociation of American Railroads
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served (printed as 3/5/2025)DecisionGRANTED IN PART THE ASSOCIATION OF AMERICAN RAILROAD'S REQUEST TO EXTEND THE PROCEDURAL SCHEDULE.
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(printed as 2/12/2025)RequestAssociation of American Railroads
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(printed as 2/7/2025)NoticeAssociation of American Railroads
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(printed as 2/7/2025)NoticeWestern Coal Traffic League
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served (printed as 1/10/2025)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2024.
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served (printed as 8/7/2024)DecisionFOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 9.87% FOR 2023. THIS FIGURE REPRESENTS THE BOARD’S OFFICE OF ECONOMICS’ ESTIMATE OF THE AVERAGE RATE OF RETURN NEEDED TO PERSUADE INVESTORS TO PROVIDE CAPITAL TO THE FREIGHT RAIL INDUSTRY.
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(printed as 6/4/2024)CommentsAssociation of American Railroads
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(printed as 5/14/2024)ReplyWestern Coal Traffic League
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(printed as 4/23/2024)SupplementAssociation of American Railroads
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(printed as 4/23/2024)CommentsAssociation of American Railroads
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(printed as 3/5/2024)NoticeAssociation of American Railroads
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(printed as 2/29/2024)NoticeWestern Coal Traffic League
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served (printed as 2/20/2024)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY’S COST OF CAPITAL FOR 2023.
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(printed as 1/8/2024)NoticeSlover & Loftus LLP
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served (printed as 10/3/2023)DecisionPROVIDED NOTICE THAT COURT ACTION WAS INSTITUTED IN THIS PROCEEDING IN THE UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT.
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served (printed as 8/3/2023)DecisionFOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 10.58% FOR 2022.
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(printed as 5/23/2023)ReplyAssociation of American Railroads
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(printed as 5/2/2023)ReplyWestern Coal Traffic League
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(printed as 4/11/2023)CommentsAssociation of American Railroads
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(printed as 3/14/2023)NoticeAssociation of American Railroads
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(printed as 2/8/2023)NoticeWestern Coal Traffic League
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served (printed as 2/7/2023)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2022.
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served (printed as 8/2/2022)DecisionFOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 10.37% FOR 2021.
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(printed as 5/31/2022)RebuttalAssociation of American Railroads
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(printed as 5/24/2022)Substitution304616Substitution/Withdrawal Of Counsel · in EP 558 (Sub-No. 16) · also entered in EP 558 (Sub-No. 17), EP 558 (Sub-No. 18), EP 558 (Sub-No. 19), EP 558 (Sub-No. 20), EP 558 (Sub-No. 21), EP 558 (Sub-No. 22), EP 558 (Sub-No. 23), EP 558 (Sub-No. 25)Association of American Railroads
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(printed as 5/9/2022)ReplyWestern Coal Traffic League
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(printed as 4/18/2022)CommentsAssociation of American Railroads
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(printed as 3/28/2022)NoticeAssociation of American Railroads
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(printed as 2/17/2022)NoticeThe Western Coal Traffic League
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served (printed as 2/11/2022)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2021.
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served (printed as 8/6/2021)DecisionFOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 7.89% FOR 2020.
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(printed as 6/2/2021)ReplyAssociation of American Railroads
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(printed as 5/10/2021)ReplyWestern Coal Traffic League
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(printed as 4/19/2021)CommentsAssociation of American Railroads
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(printed as 3/29/2021)NoticeAssociation of American Railroads
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(printed as 2/19/2021)NoticeWestern Coal Traffic League
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served (printed as 2/5/2021)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2020.
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served (printed as 11/4/2020)DecisionDENIED A PETITION FILED BY WESTERN COAL TRAFFIC LEAGUE TO RECONSIDER A BOARD DECISION SERVED ON AUGUST 5, 2020, WHICH DETERMINED THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY IN 2019.
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(printed as 9/14/2020)ReplyAssociation of American Railroads
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(printed as 8/24/2020)MotionWestern Coal Traffic League
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served (printed as 8/5/2020)DecisionPROVIDED NOTICE THAT THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 9.34% FOR 2019.
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(printed as 6/1/2020)RebuttalAssociation of American Railroads
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(printed as 5/11/2020)ReplyWestern Coal Traffic League
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(printed as 4/20/2020)CommentsAssociation of American Railroads
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(printed as 3/30/2020)NoticeAssociation of American Railroads
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(printed as 3/24/2020)NoticeWestern Coal Traffic League
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served (printed as 2/27/2020)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2019.
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served (printed as 9/30/2019)DecisionCORRECTED THE DECISION SERVED ON AUGUST 6, 2019.
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served (printed as 8/6/2019)DecisionDECISION FOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 12.22% FOR 2018.
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(printed as 8/6/2019)SectionSurface Transportation Board
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(printed as 6/3/2019)RebuttalAssociation Of American Railroads
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(printed as 5/13/2019)ReplyWestern Coal Traffic League
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(printed as 4/22/2019)CommentsAssociation Of American Railroads
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(printed as 4/1/2019)NoticeAssociation Of American Railroads
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(printed as 2/19/2019)NoticeWestern Coal Traffic League
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served (printed as 2/15/2019)DecisionDECISION INITIATED A PROCEEDING IN WHICH CERTAIN OF THE NATION'S LARGEST RAILROADS MUST, AND OTHER INTERESTED PARTIES MAY, PROVIDE COMMENTS TO ASSIST THE BOARD IN DETERMINING THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2018.
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(printed as 2/5/2019)SupplementNorfolk Southern Railway Company
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(printed as 1/31/2019)CommentsSoo Line Corporation
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(printed as 1/28/2019)CommentsCsx Transportation Inc
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(printed as 1/28/2019)CommentsGrand Trunk Corporation
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(printed as 1/28/2019)CommentsKansas City Southern Railway Company
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(printed as 1/28/2019)CommentsBnsf Railway Company
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(printed as 12/21/2018)CommentsNorfolk Southern Railway Company
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(printed as 12/21/2018)CommentsUnion Pacific Railroad Company
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served (printed as 12/6/2018)DecisionDECISION FOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 10.04% FOR 2017.
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served (printed as 12/6/2018)DecisionDECISION ADOPTED ITS PROPOSAL TO MAKE ONE-TIME ADJUSTMENTS TO ITS 2017 ANNUAL COST OF CAPITAL DETERMINATION, REVENUE ADEQUACY DETERMINATION, AND UNIFORM RAILROAD COSTING SYSTEM CALCULATIONS TO REMOVE THE ACCOUNTING IMPACTS OF THE TAX CUTS AND JOBS ACT ON RAIL CARRIERS' DEFERRED TAX LIABILITY.
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(printed as 9/25/2018)ReplyWestern Coal Traffic League
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(printed as 9/25/2018)ReplyAssociation Of American Railroads
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(printed as 9/5/2018)CommentsAssociation Of American Railroads
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(printed as 9/5/2018)CommentsWestern Coal Traffic League
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(printed as 8/16/2018)SupplementAssociation Of American Railroads
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served (printed as 8/10/2018)DecisionDECISION EXTENDED THE DEADLINE FOR COMMENTS TO SEPTEMBER 5, 2018, AND EXTENDED THE DEADLINE FOR REPLIES TO SEPTEMBER 25, 2018.
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(printed as 8/3/2018)RequestWestern Coal Traffic League
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served (printed as 7/27/2018)DecisionDECISION PROVIDED NOTICE THAT THE BOARD IS SEEKING COMMENT ON WHETHER ONE-TIME ADJUSTMENTS TO ITS 2017 ANNUAL COST OF CAPITAL DETERMINATION, REVENUE ADEQUACY DETERMINATION, AND UNIFORM RAILROAD COSTING SYSTEM CALCULATIONS TO REMOVE THE ACCOUNTING IMPACTS OF THE TAX CUTS AND JOBS ACT ON RAIL CARRIERS' DEFERRED TAX LIABILITY WOULD BE APPROPRIATE.
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(printed as 7/5/2018)LetterAssociation Of American Railroads
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(printed as 6/14/2018)MotionWestern Coal Traffic League
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(printed as 6/1/2018)RebuttalAssociation Of American Railroads
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(printed as 5/11/2018)ReplyWestern Coal Traffic League
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(printed as 4/20/2018)CommentsAssociation Of American Railroads
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(printed as 3/23/2018)NoticeAssociation Of American Railroads
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(printed as 2/9/2018)NoticeWestern Coal Traffic League
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served (printed as 2/8/2018)DecisionDECISION INSTITUTED A PROCEEDING PURSUANT TO 49 U.S.C. § 10704(a)(2) TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2017.
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served (printed as 8/7/2017)DecisionDECISION FOUND THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY, WHICH IS CALCULATED EACH YEAR, WAS 8.88% FOR 2016. THIS FIGURE REPRESENTED THE BOARD'S OFFICE OF ECONOMICS ESTIMATE OF THE AVERAGE RATE OF RETURN NEEDED TO PERSUADE INVESTORS TO PROVIDE CAPITAL TO THE FREIGHT RAIL INDUSTRY.
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(printed as 6/1/2017)RebuttalAssociation Of American Railroads
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(printed as 5/11/2017)ReplyWestern Coal Traffic League
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(printed as 4/20/2017)CommentsAssociation Of American Railroads
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(printed as 3/29/2017)NoticeAssociation Of American Railroads
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(printed as 3/13/2017)NoticeWestern Coal Traffic League
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served (printed as 2/28/2017)DecisionDECISION INITIATED A PROCEEDING IN WHICH CERTAIN OF THE NATION'S LARGEST RAILROADS MUST, AND OTHER INTERESTED PARTIES MAY, PROVIDE COMMENTS TO ASSIST THE BOARD IN DETERMINING THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2016.
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served (printed as 8/5/2016)DecisionDECISION DETERMINED THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2015 AND DISCONTINUED THIS PROCEEDING.
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(printed as 6/1/2016)RebuttalAssociation Of American Railroads
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(printed as 5/11/2016)ReplyWestern Coal Traffic League
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(printed as 4/20/2016)CommentsAssociation Of American Railroads
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(printed as 3/28/2016)NoticeAssociation Of American Railroads
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(printed as 3/28/2016)NoticeWestern Coal Traffic League
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served (printed as 3/10/2016)DecisionDECISION CORRECTED THE DECISION SERVED ON MARCH 2, 2016, WHICH INCORRECTLY IDENTIFIED CSX CORPORATION AS A CLASS I CARRIER IN FOOTNOTE 5 ON PAGE 2.
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served (printed as 3/2/2016)DecisionDECISION INITIATED A PROCEEDING IN WHICH CERTAIN OF THE NATION'S LARGEST RAILROADS MUST, AND OTHER INTERESTED PARTIES MAY, PROVIDE COMMENTS TO ASSIST THE BOARD IN DETERMINING THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2015.
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(printed as 3/2/2016)MotionCsx Corporation
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served (printed as 8/7/2015)DecisionDECISION FOUND THAT FOR 2014, THE COST OF RAILROAD LONG-TERM DEBT WAS 3.58%; THE COST OF COMMON EQUITY WAS 12.06%; THE COST OF PREFERRED EQUITY WAS 3.69%; THE CAPITAL STRUCTURE MIX OF RAILROADS WAS 16.66% LONG-TERM DEBT, 83.34% COMMON EQUITY, AND 0.00% PREFERRED EQUITY; AND THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 10.65%.
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(printed as 6/1/2015)CommentsAssociation Of American Railroads
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(printed as 5/11/2015)ReplyWestern Coal Traffic League
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(printed as 5/11/2015)ReplyArkansas Electric Cooperative Corporation
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(printed as 4/20/2015)CommentsAssociation Of American Railroads
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(printed as 3/30/2015)NoticeUnion Pacific Railroad Company
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(printed as 3/30/2015)NoticeWestern Coal Traffic League
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(printed as 3/30/2015)NoticeArkansas Electric Cooperative Corporation
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(printed as 3/27/2015)NoticeAssociation Of American Railroads
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served (printed as 2/25/2015)DecisionDECISION CORRECTED THE DATE IN WHICH NOTICE OF THE DECISION SERVED ON FEBRUARY 19, 2015, WOULD BE PUBLISHED.
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served (printed as 2/19/2015)DecisionDECISION INITIATED A PROCEEDING IN WHICH CERTAIN OF THE NATION'S LARGEST RAILROADS MUST, AND OTHER INTERESTED PARTIES MAY, PROVIDE COMMENTS TO ASSIST THE BOARD IN DETERMINING THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2014.
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served (printed as 7/31/2014)DecisionDECISION FOUND THAT FOR 2013, THE COST OF RAILROAD LONG-TERM DEBT WAS 3.68%; THE COST OF COMMON EQUITY WAS 12.96%; THE COST OF PREFERRED EQUITY WAS 3.87%; THE CAPITAL STRUCTURE MIX OF RAILROADS WAS 17.69% LONG-TERM DEBT, 82.31% COMMON EQUITY, AND 0.004% PREFERRED EQUITY; AND THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 11.32%.
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(printed as 6/2/2014)CommentsAssociation Of American Railroads
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(printed as 5/12/2014)ReplyWestern Coal Traffic League
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(printed as 4/21/2014)CommentsAssociation Of American Railroads
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(printed as 3/31/2014)NoticeAssociation Of American Railroads
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(printed as 3/11/2014)NoticeUnion Pacific Railroad Company
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(printed as 3/5/2014)NoticeWestern Coal Traffic League
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served (printed as 2/28/2014)DecisionDECISION: (1) INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2013; AND (2) DIRECTED CERTAIN CLASS I RAILROADS, AND INVITED OTHER INTERESTED PARTIES TO PROVIDE COMMENTS.
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served (printed as 8/30/2013)DecisionDECISION CORRECTED THE DECISION SERVED ON AUGUST 2, 2013, IN THIS PROCEEDING. THIS DECISION FINDS THAT THE COST OF CAPITAL FOR THE RAILROAD INDUSTRY IN 2012 WAS 11.12%.
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(printed as 8/20/2013)CorrectionAssociation Of American Railroads
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served (printed as 8/2/2013)DecisionDECISION FOUND THAT FOR 2012, THE CURRENT COST OF RAILROAD LONG-TERM DEBT WAS 3.29%; THE COST OF COMMON EQUITY WAS 13.40%; THE CAPITAL STRUCTURE MIX OF THE RAILROADS WAS 22.62% LONG-TERM DEBT AND 77.38% COMMON EQUITY; AND THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 11.11%.
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(printed as 6/5/2013)ErrataAssociation Of American Railroads
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(printed as 5/31/2013)RebuttalAssociation Of American Railroads
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(printed as 5/10/2013)ReplyWestern Coal Traffic League
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(printed as 4/19/2013)CommentsAssociation Of American Railroads
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(printed as 3/28/2013)NoticeAssociation Of American Railroads,
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(printed as 3/4/2013)NoticeWestern Coal Traffic League
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served (printed as 2/26/2013)DecisionDECISION PROVIDED NOTICE THAT A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2012.
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served (printed as 9/13/2012)DecisionDECISION FINDS THAT FOR 2011, THE CURRENT COST OF RAILROAD LONG-TERM DEBT WAS 3.97%; THE COST OF COMMON EQUITY WAS 13.57%; THE CAPITAL STRUCTURE MIX OF THE RAILROADS WAS 20.83% LONG-TERM DEBT AND 79.17% COMMON EQUITY; AND THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 11.57%.
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(printed as 5/30/2012)RebuttalAssociation Of American Railroads
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(printed as 5/10/2012)ReplyWestern Coal Traffic League
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(printed as 4/20/2012)CommentsAssociation Of American Railroads
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served (printed as 3/29/2012)DecisionDECISION GRANTED ASSOCIATION OF AMERICAN RAILROADS AN EXTENSION OF 3 WEEKS, UNTIL APRIL 20, 2012, TO FILE OPENING COMMENTS.
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(printed as 3/22/2012)RequestAssociation Of American Railroads
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(printed as 3/9/2012)NoticeSnavely King Majoros & O'connor, Inc.
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(printed as 3/9/2012)NoticeAssociation Of American Railroads
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(printed as 2/29/2012)NoticeWestern Coal Traffic League
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served (printed as 2/3/2012)DecisionDECISION PROVIDED NOTICE THAT THE BOARD IS INSTITUTING A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2011.
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served (printed as 10/3/2011)DecisionDECISION FOUND THAT FOR 2010, THE CURRENT COST OF RAILROAD LONG-TERM DEBT WAS 4.61%; THE COST OF COMMON EQUITY WAS 12.99%; THE CAPITAL STRUCTURE MIX OF THE RAILROADS WAS 23.38% LONG-TERM DEBT AND 76.62% COMMON EQUITY; AND THE COMPOSITE RAILROAD INDUSTRY COST OF CAPITAL WAS 11.03%.
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(printed as 6/22/2011)RebuttalAssociation Of American Railroads
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(printed as 6/2/2011)ReplyWestern Coal Traffic League
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served (printed as 5/18/2011)DecisionDECISION GRANTED A REQUEST TO REVISE THE PROCEDURAL SCHEDULE IN THIS PROCEEDING.
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(printed as 5/17/2011)RequestWestern Coal Traffic League
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(printed as 4/29/2011)CommentsAssociation Of American Railroads
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(printed as 3/8/2011)NoticeSnavely King Majoros O'connor & Lee Inc
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(printed as 3/8/2011)NoticeAssociation Of American Railroads
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(printed as 3/4/2011)NoticeUnion Pacific Railroad Company
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(printed as 2/24/2011)NoticeWestern Coal Traffic League
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served (printed as 2/22/2011)DecisionDECISION PROVIDED NOTICE THAT THE BOARD IS INSTITUTING A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2010.
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served (printed as 10/29/2010)DecisionDECISION CORRECTED FOOTNOTE 4 OF THE DECISION SERVED ON SEPTEMBER 30, 2010, IN THIS PROCEEDING.
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served (printed as 9/30/2010)DecisionDECISION CONCLUDED THAT THE 2009 COMPOSITE AFTER-TAX COST OF CAPITAL FOR THE RAILROAD INDUSTRY WAS 10.43%, BASED ON THE EVIDENCE FURNISHED IN THE RECORD AND THE BOARD'S ADJUSTMENTS TO THE CALCULATIONS DISCUSSED IN THE DECISION.
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(printed as 7/15/2010)RebuttalBnsf Railway Company
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(printed as 7/15/2010)RebuttalAssociation Of American Railroads
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(printed as 6/15/2010)ReplyWestern Coal Traffic League
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(printed as 6/15/2010)ReplyPpl Montana Llc
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(printed as 6/15/2010)ReplyNational Grain And Feed Association
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(printed as 5/17/2010)StatementKansas City Southern Railway Company
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(printed as 5/17/2010)StatementBnsf Railway Company
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(printed as 5/17/2010)StatementAssociation Of American Railroads
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(printed as 4/21/2010)NoticeBnsf Railway Company
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(printed as 4/16/2010)NoticeKansas City Southern Railway Company
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(printed as 4/16/2010)NoticeSnavely King Majoros O'connor & Bedell, Inc.
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(printed as 4/16/2010)NoticePpl Energy Plus, Llc, Ppl Montana Llc
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(printed as 4/15/2010)NoticeNational Grain And Feed Association
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(printed as 4/14/2010)NoticeAssociation Of American Railroads
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(printed as 4/14/2010)NoticeNorfolk Southern Railway Company
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(printed as 4/7/2010)NoticeUnion Pacific Railroad Company
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(printed as 3/31/2010)NoticeWestern Coal Traffic League
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served (printed as 3/30/2010)DecisionDECISION INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2009 AND SEEKS COMMENTS ON: (1) THE RAILROADS' 2009 CURRENT COST OF DEBT CAPITAL; (2) THE RAILROADS' 2009 CURRENT COST OF PREFERRED EQUITY CAPITAL (IF ANY); (3) THE RAILROADS' 2009 COST OF COMMON EQUITY CAPITAL, (4) HOW THE CHANGE IN BNSF RAILWAY COMPANY'S SHARE PRICES FROM NOVEMBER 2009 THROUGH DECEMBER 2009, FOLLOWING THE ANNOUNCEMENT OF ITS ACQUISITION BY BERKSHIRE HATHAWAY INC., SHOULD BE CONSIDERED IN CALCULATING THE 2009 COST OF COMMON EQUITY CAPITAL; AND (5) THE 2009 CAPITAL STRUCTURE MIX OF THE RAILROAD INDUSTRY ON A MARKET VALUE BASIS.
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served (printed as 9/25/2009)DecisionDECISION FOUND THAT, IN 2008, THE RAILROAD INDUSTRY HAD AN AFTER-TAX COST OF CAPITAL OF 11.75%, BASED ON: (1) A CURRENT COST OF DEBT OF 6.57%; (2) A CURRENT COST OF COMMON EQUITY OF 13.17%; AND (3) A CAPITAL STRUCTURE MIX OF 21.54% DEBT AND 78.46% COMMON EQUITY.
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(printed as 7/13/2009)LetterAssociation Of American Railroads
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(printed as 7/7/2009)MotionArkansas Electric Cooperative Corporation
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(printed as 6/19/2009)ReplyAssociation Of American Railroads
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(printed as 5/20/2009)CommentsWestern Coal Traffic League
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(printed as 5/20/2009)CommentsArkansas Electric Cooperative Corporation
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(printed as 5/18/2009)SupplementArkansas Electric Cooperative Corporation
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(printed as 4/20/2009)WorkpapersAssociation Of American Railroads
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(printed as 4/20/2009)CommentsAssociation Of American Railroads
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(printed as 3/30/2009)NoticeTeamsters Rail Conference
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(printed as 3/20/2009)NoticeAssociation Of American Railroads
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(printed as 3/17/2009)NoticeArkansas Electric Cooperative Corporation
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(printed as 3/10/2009)NoticeUnion Pacific Railroad Company
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(printed as 3/9/2009)NoticeWestern Coal Traffic League
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served (printed as 3/6/2009)DecisionDECISION INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2008 AND SOUGHT COMMENTS ON: (1) THE RAILROADS' 2008 CURRENT COST OF DEBT CAPITAL; (2) THE RAILROADS' 2008 CURRENT COST OF PREFERRED EQUITY CAPITAL (IF ANY); (3) THE RAILROADS' 2008 COST OF COMMON EQUITY CAPITAL; AND (4) THE 2008 CAPITAL STRUCTURE MIX OF THE RAILROAD INDUSTRY ON A MARKET VALUE BASIS.
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served (printed as 9/26/2008)DecisionDECISION FOUND THAT, IN 2007, THE RAILROAD INDUSTRY HAD AN AFTER-TAX COST OF CAPITAL OF 11.33%, BASED ON: (1) A CURRENT COST OF DEBT OF 6.15%; (2) A CURRENT COST OF COMMON EQUITY OF 12.68%; AND (3) A CAPITAL STRUCTURE MIX OF 20.68% DEBT AND 79.32% COMMON EQUITY.
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(printed as 7/23/2008)ReplyAssociation Of American Railroads
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(printed as 6/25/2008)CorrectionCalifornia Public Utilities Commission
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(printed as 6/23/2008)ReplyWestern Coal Traffic League
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(printed as 6/23/2008)ReplyPeople Of The State Of California, California Public Utilities Commission
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(printed as 5/22/2008)WorkpapersAssociation Of American Railroads
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(printed as 5/22/2008)CommentsAssociation Of American Railroads
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(printed as 5/6/2008)NoticeSnavely King Majoros O'connor & Lee Inc
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(printed as 5/6/2008)NoticeUnited Transportation Union General Committee Of Adjustment (Go-386)
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(printed as 5/6/2008)NoticeAssociation Of American Railroads
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(printed as 5/6/2008)NoticeCalifornia Public Utilities Commission
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(printed as 4/28/2008)NoticeWestern Coal Traffic League
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served (printed as 4/23/2008)DecisionDECISION INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2007. IN ADDITION, THE BOARD IS SEEKING COMMENTS ON: (1) THE RAILROADS' 2007 CURRENT COST OF DEBT CAPITAL; (2) THE RAILROADS' 2007 CURRENT COST OF PREFERRED EQUITY CAPITAL (IF ANY); (3) THE RAILROADS' 2007 COST OF COMMON EQUITY CAPITAL; AND (4) THE 2007 CAPITAL STRUCTURE MIX OF THE RAILROAD INDUSTRY ON A MARKET VALUE BASIS.
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served (printed as 4/15/2008)DecisionDECISION FOUND THAT, IN 2006, THE RAILROAD INDUSTRY HAD AN AFTER-TAX COST OF CAPITAL OF 9.94%, BASED ON: (1) A CURRENT COST OF DEBT OF 5.97%; (2) A CURRENT COST OF COMMON EQUITY OF 11.13%; AND (3) A CAPITAL STRUCTURE MIX OF 23.05% DEBT AND 76.95% COMMON EQUITY.
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(printed as 2/29/2008)RebuttalAssociation Of American Railroads
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(printed as 2/15/2008)ReplyWestern Coal Traffic League
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(printed as 2/5/2008)CorrectionAssociation Of American Railroads
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(printed as 2/1/2008)StatementAssociation Of American Railroads
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served (printed as 1/17/2008)DecisionDECISION ESTABLISHED A PROCEDURAL SCHEDULE IN THIS PROCEEDING.
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(printed as 8/13/2007)RebuttalAssociation Of American Railroads
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(printed as 7/25/2007)ReplyWestern Coal Traffic League
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(printed as 6/25/2007)CommentsAssociation Of American Railroads
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(printed as 5/29/2007)NoticeSnavely King Majoros O'connor & Lee Inc
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(printed as 5/29/2007)NoticeAssociation Of American Railroads
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(printed as 5/25/2007)NoticeWestern Coal Traffic League
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(printed as 5/24/2007)NoticeUnion Pacific Railroad Company
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(printed as 5/22/2007)NoticeJohn D. Fitzgerald
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served (printed as 5/16/2007)DecisionDECISION INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2006 AND REQUIRED COMMENTS FROM ALL CLASS I RAILROADS.
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served (printed as 3/23/2007)DecisionPROVIDED NOTICE THAT COURT ACTION WAS INSTITUTED AS A RESULT OF THE BOARD'S DECISION IN THIS PROCEEDING.
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served (printed as 2/12/2007)DecisionDECISION DENIED WESTERN COAL TRAFFIC LEAGUE'S PETITION FOR RECONSIDERATION OF THE COST-OF CAPITAL DECISION FOR 2005.
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(printed as 10/24/2006)ReplyAssociation Of American Railroads
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(printed as 10/10/2006)MotionWestern Coal Traffic League
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served (printed as 9/20/2006)DecisionUPDATED TO THE 2005 LEVEL OF THE BOARD'S COMPUTATION OF THE RAILROAD INDUSTRY'S COST-OF-CAPITAL RATE.
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(printed as 5/19/2006)CommentsAssociation Of American Railroads
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(printed as 4/28/2006)ReplyWestern Coal Traffic League
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(printed as 3/31/2006)StatementAssociation Of American Railroads
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(printed as 1/20/2006)NoticeSnavely King Majoros O'connor & Lee Inc
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(printed as 1/20/2006)NoticeAssociation Of American Railroads
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(printed as 1/17/2006)NoticeUnion Pacific Railroad Company
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(printed as 1/13/2006)NoticeUnion Pacific Railroad Company
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(printed as 1/6/2006)NoticeWestern Coal Traffic League
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served (printed as 12/20/2005)DecisionDECISION INSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2005 AND REQUIRED COMMENTS FROM ALL CLASS I RAILROADS.
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served (printed as 7/6/2005)Decision--
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served (printed as 6/30/2005)DecisionTHE BOARD FOUND THAT, UPON REVIEW OF THE EVIDENCE TENDERED IN THIS PROCEEDING, THE RAILROAD INDUSTRY HAD A COMPOSITE AFTER-TAX COST-OF-CAPITAL OF 10.1%.
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(printed as 3/25/2005)StatementAssociation Of American Railroads
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(printed as 1/18/2005)NoticeNational Coal Transportation Association
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(printed as 1/18/2005)NoticeNational Coal Transportation Association
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(printed as 1/12/2005)NoticeWestern Coal Traffic League
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(printed as 1/3/2005)NoticeAssociation Of American Railroads
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(printed as 12/28/2004)NoticeUnion Pacific Railroad Company
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(printed as 12/27/2004)NoticeUnion Pacific Railroad Company
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served (printed as 12/20/2004)DecisionINSTITUTED THIS PROCEEDING, PURSUANT TO 49 U.S.C. 10704(a)(2), TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2004.
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served (printed as 12/6/2004)DecisionANNOUNCED THE AGENDA ITEMS TO BE DISCUSSED AT THE BOARD'S DECEMBER 13, 2004 VOTING CONFERENCE.
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served (printed as 6/28/2004)DecisionUPDATED, TO THE 2003 LEVEL, THE BOARD'S COMPUTATION OF THE RAILROAD INDUSTRY'S COST OF CAPITAL RATE.
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served (printed as 6/15/2004)DecisionNOTICE THAT THE BOARD WILL CONDUCT A VOTING CONFERENCE ON TUESDAY, JUNE 22, 2004, AT 10 A.M.
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(printed as 3/29/2004)StatementAssociation Of American Railroads
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(printed as 1/21/2004)NoticeAssociation Of American Railroads
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(printed as 1/5/2004)NoticeUnion Pacific Railroad Company
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(printed as 1/2/2004)NoticeUnion Pacific Railroad Company
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served (printed as 12/11/2003)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2003, SOLICITING COMMENTS ON: (A) THE RAILROADS' 2003 CURRENT COST OF DEBT CAPITAL; (B) THE RAILROADS' 2003 CURRENT COST OF PREFERRED STOCK EQUITY CAPITAL; (C) THE RAILROADS' 2003 COST OF COMMON STOCK EQUITY CAPITAL; AND (D) THE 2003 CAPITAL STRUCTURE MIX OF THE RAILROAD INDUSTRY ON A MARKET VALUE BASIS.
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served (printed as 6/19/2003)DecisionFOUND THAT, IN 2002, THE RAILROAD INDUSTRY HAD A COMPOSITE AFTER-TAX COST OF CAPITAL OF 9.8%, BASED ON: (1) A CURRENT COST OF DEBT OF 6.0%; (2) A CURRENT COST OF COMMON EQUITY CAPITAL OF 12.6%; (3) A COST OF PREFERRED EQUITY CAPITAL OF 6.3%; AND (4) A CAPITAL STRUCTURE MIX OF 41.2% DEBT, 56.7% COMMON EQUITY, AND 2.1% PREFERRED EQUITY CAPITAL.
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(printed as 1/13/2003)NoticeAssociation Of American Railroads
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served (printed as 12/12/2002)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2002.
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served (printed as 6/20/2002)DecisionFOUND THAT IN 2001, THE RAILROAD INDUSTRY HAD A COMPOSITE AFTER-TAX COST OF CAPITAL OF 10.2%, BASED ON: (1) A CURRENT COST OF DEBT OF 6.9%; (2) A CURRENT COST OF COMMON EQUITY CAPITAL OF 12.8%; (3) A COST OF PREFERRED EQUITY CAPITAL OF 6.3%; AND (4) A CAPITAL STRUCTURE MIX OF 41.8% DEBT, 56.0% COMMON EQUITY, AND 2.2% PREFERRED EQUITY CAPITAL.
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(printed as 3/29/2002)CommentsAssociation Of American Railroads
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(printed as 1/11/2002)NoticeAssociation Of American Railroads
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(printed as 1/9/2002)NoticeUnion Pacific Railroad Company
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(printed as 1/8/2002)NoticeUnion Pacific Railroad Company
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served (printed as 12/21/2001)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2001.
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served (printed as 7/2/2001)DecisionUPDATED THE COMPUTATION OF THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2000.
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served (printed as 12/18/2000)DecisionNOTICE TO THE PARTIES CORRECTING THE DECIDED DATE.
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served (printed as 12/18/2000)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 2000.
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served (printed as 6/12/2000)Decision(1) DISCONTINUED THE ABOVE PROCEEDING, AND (2) FOUND THAT IN 1999, THE RAILROAD INDUSTRY HAD A COMPOSITE AFTER-TAX COST OF CAPITAL OF 10.8%, BASED ON: (1) A CURRENT COST OF DEBT OF 7.2%; (2) A CURRENT COST OF COMMON EQUITY CAPITAL OF 12.9%; (3) A COST OF PREFERRED EQUITY CAPITAL OF 6.3%; AND (4) A CAPITAL STRUCTURE MIX OF 35.5% DEBT, 62.7% COMMON EQUITY, AND 1.8% PREFERRED EQUITY CAPITAL.
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served (printed as 12/10/1999)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 1999.
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served (printed as 5/17/1999)DecisionUPDATED COMPUTATION OF THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 19998.
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served (printed as 2/23/1999)DecisionNOTICE TO THE PARTIES ISSUING COMPILED SERVICE LIST FROM NOTICES OF INTENT TO PARTICIPATE.
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served (printed as 1/5/1999)DecisionNOTICE TO THE PARTIES CORRECTING A DECISION SERVED ON DECEMBER 29, 1998.
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served (printed as 12/29/1998)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 1998, AND SOLICITED COMMENTS FROM RAILROADS AND OTHER INTERESTED PERSON.
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served (printed as 7/20/1998)DecisionUPDATED THE RAILROAD INDUSTRY'S COST OF CAPITAL RATE FOR THE YEAR 1997, AND DISCONTINUED THIS PROCEEDING.
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served (printed as 12/17/1997)DecisionINSTITUTED A PROCEEDING TO DETERMINE THE RAILROAD INDUSTRY'S COST OF CAPITAL FOR 1997, SOLICITED COMMENTS AND ESTABLISHED A PROCEDURAL SCHEDULE.
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served (printed as 7/16/1997)Decision21423Entire BoardUPDATED, TO THE 1996 LEVEL, THE ESTIMATE OF THE RAILROAD INDUSTRY'S COST OF CAPITAL RATE, AND DISCONTINUED THIS PROCEEDING.
Nothing of that kind in this docket.