Financial Summary
Yellow Corporation and Subsidiaries
| (in thousands except per share data) |
|
2002 |
|
 |
|
2001 |
|
|
|
2000 |
|
|
|
1999 |
|
|
|
1998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| For the Year |
|
(a) |
|
|
(b) |
|
|
|
|
|
|
|
|
(c) |
|
| Operating revenue |
$ |
2,624,148 |
|
$ |
2,505,070 |
|
$ |
2,799,131 |
|
$ |
2,632,337 |
|
$ |
2,492,617 |
|
| Operating income |
|
46,864 |
|
|
38,195 |
|
|
126,747 |
|
|
76,026 |
|
|
60,188 |
|
| Interest expense |
|
7,211 |
|
|
8,437 |
|
|
10,131 |
|
|
6,086 |
|
|
2,656 |
|
| ABS facility charges |
|
2,576 |
|
|
7,996 |
|
|
10,052 |
|
|
8,252 |
|
|
4,355 |
|
| Income from continuing operations (after tax) |
|
23,973 |
|
|
10,589 |
|
|
61,605 |
|
|
38,746 |
|
|
32,017 |
|
| Net income (loss) |
|
(93,902 |
) |
|
15,301 |
|
|
68,018 |
|
|
50,915 |
|
|
(28,669 |
) |
| Unusual items expense (income) |
|
8,435 |
|
|
5,415 |
|
|
(14,372 |
) |
|
341 |
|
|
(4,287 |
) |
| Depreciation and amortization expense |
|
79,334 |
|
|
76,977 |
|
|
78,587 |
|
|
76,904 |
|
|
83,980 |
|
| Net capital expenditures, excluding discontinued operations |
|
82,830 |
|
|
81,435 |
|
|
70,689 |
|
|
96,169 |
|
|
49,469 |
|
| Net cash from operating activities, excluding discontinued operations |
|
25,808 |
|
|
12,189 |
|
|
151,592 |
|
|
206,705 |
|
|
134,636 |
|
| Free cash flow |
|
48,182 |
|
|
(17,108 |
) |
|
45,887 |
|
|
19,639 |
|
|
61,252 |
|
|
| At Year-End |
| Net property and equipment |
|
564,976 |
| |
559,532 |
|
|
554,150 |
|
|
547,139 |
| |
535,589 |
|
| Total assets |
|
1,042,985 |
|
|
1,285,777 |
|
|
1,308,477 |
|
|
1,325,583 |
|
|
1,105,685 |
|
| Long-term debt, less current portion |
|
50,024 |
|
|
213,745 |
|
|
136,645 |
|
|
274,015 |
|
|
156,988 |
|
| Total debt, including ABS facility |
|
124,285 |
|
|
361,526 |
|
|
382,437 |
|
|
411,407 |
|
|
200,065 |
|
| Total shareholders' equity |
|
359,958 |
|
|
490,989 |
|
|
459,776 |
|
|
409,380 |
|
|
371,252 |
|
|
| Measurements |
| Diluted per share data: |
| Income from continuing operations |
|
0.84 |
|
|
0.43 |
|
|
2.49 |
|
|
1.54 |
|
|
1.19 |
|
| Net income (loss) |
|
(3.31 |
) |
|
0.62 |
|
|
2.74 |
|
|
2.02 |
|
|
(1.06 |
) |
| Average common shares outstanding - diluted |
|
28,371 |
|
|
24,679 |
|
|
24,787 |
|
|
25,168 |
|
|
26,920 |
|
| Return on committed capital, excluding discontinued operations |
|
7.1 |
% |
|
5.8 |
% |
|
15.3 |
% |
|
11.4 |
% |
|
7.4 |
% |
|
| Debt to capitalization |
|
21.0 |
% |
|
41.1 |
% |
|
44.0 |
% |
|
48.9 |
% |
|
32.5 |
% |
|
| Shareholders' equity per share |
$ |
12.17 |
|
$ |
19.75 |
|
$ |
19.32 |
|
$ |
16.44 |
|
$ |
14.46 |
|
| Common stock price range: |
| High |
|
32.21 |
|
|
27.57 |
|
|
22.13 |
|
|
19.63 |
|
|
29.88 |
|
| Low |
|
18.31 |
|
|
15.50 |
|
|
13.81 |
|
|
14.38 |
|
|
9.69 |
|
|
| Other Data |
| Average number of employees |
|
23,000 |
|
|
30,000 |
|
|
32,900 |
|
|
31,200 |
|
|
29,700 |
|
| Yellow Transportation operating ratio |
|
97.2 |
% |
|
97.8 |
% |
|
94.9 |
% |
|
96.7 |
% |
|
97.3 |
% |
|
|
| Notes |
|
| (a) |
In 2002, the company completed the spin-off of SCS Transportation, Inc. (SCST). Financial Summary data has been
reclassified for all periods presented to disclose SCST as a discontinued operation. |
| (b) |
In September 2001, the company completed its acquisition of Transportation.com. The results of operations include
Transportation.com from the acquisition date. |
| (c) |
In 1998, the company sold Preston Trucking Company, Inc. All selected financial data has been restated to disclose
Preston Trucking as a discontinued operation. |
|
