Decision 53261
Served (printed as 10/8/2026) · Decision · Entire Board
FOUND THAT FOUR CLASS I RAILROADS (BNSF RAILWAY COMPANY, CSX TRANSPORTATION, INC., NORFOLK SOUTHERN COMBINED RAILROAD SUBSIDIARIES, AND UNION PACIFIC RAILROAD COMPANY) ARE REVENUE ADEQUATE FOR THE YEAR 2025, MEANING THAT THOSE RAILROADS ACHIEVED A RATE OF RETURN EQUAL TO OR GREATER THAN THE BOARD’S CALCULATION OF THE AVERAGE COST OF CAPITAL FOR THE FREIGHT RAIL INDUSTRY.
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