Exhibit 99.1
Consolidated Freightways Corporation
Consolidating Income Statements
For the Month Ended September 30, 2004
(Unaudited)
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| | Consolidated Freightways Corporation of Delaware
| | | Consolidated Freightways Corporation
| | CF AirFreight Corporation
| | | Leland James Service Corporation
| | Redwood Systems Inc.
| | | CF MovesU Inc.
| | CFCD 2002 LLC
| | | CFCD 2002 Member LLC
| | CFCD 2002A LLC
| | | CFCD 2002A Member LLC
| | Total
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Revenue - Customers | | $ | — | | | $ | — | | $ | — | | | $ | — | | $ | — | | | $ | — | | $ | — | | | $ | — | | $ | — | | | $ | — | | $ | — | |
Revenue – Affiliates | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | |
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Total Revenue | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | |
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Operating Expenses | | | 111,425 | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | 111,425 | |
Salaries, Wages, and Benefits | | | 240,439 | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | 240,439 | |
Purchased Transportation | | | 20,221 | | | | — | | | 3,183 | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | 23,404 | |
Operating Taxes and Licensing | | | 54,611 | | | | — | | | — | | | | — | | | — | | | | — | | | 2,464 | | | | — | | | — | | | | — | | | 57,075 | |
Claims and Insurance | | | 22,019 | | | | — | | | (59,376 | ) | | | — | | | — | | | | — | | | 5,059 | | | | — | | | 1,735 | | | | — | | | (30,563 | ) |
Rents | | | 6,527 | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | 6,527 | |
Other G&A Expense | | | (41,392 | ) | | | — | | | (5,203 | ) | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | (46,595 | ) |
(Gain) Loss on Sale of Assets | | | 9,717 | | | | — | | | | | | | — | | | (894 | ) | | | — | | | — | | | | — | | | — | | | | — | | | 8,823 | |
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Total Operating Expenses | | | 423,567 | | | | — | | | (61,396 | ) | | | — | | | (894 | ) | | | — | | | 7,523 | | | | — | | | 1,735 | | | | — | | | 370,535 | |
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Operating Income (Loss) | | | (423,567 | ) | | | — | | | 61,396 | | | | — | | | 894 | | | | — | | | (7,523 | ) | | | — | | | (1,735 | ) | | | — | | | (370,535 | ) |
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Temporary Investment Interest | | | 169,435 | | | | — | | | — | | | | — | | | — | | | | — | | | 7,781 | | | | — | | | — | | | | — | | | 177,216 | |
Other Interest Income | | | 78,460 | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | 78,460 | |
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Interest Income | | | 247,895 | | | | — | �� | | — | | | | — | | | — | | | | — | | | 7,781 | | | | — | | | — | | | | — | | | 255,676 | |
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Other Miscellaneous, Net | | | 2,203 | | | | — | | | (6,579 | ) | | | — | | | (3,800 | ) | | | — | | | — | | | | — | | | — | | | | — | | | (8,176 | ) |
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Income (Loss) Before Taxes | | | (173,469 | ) | | | — | | | 54,817 | | | | — | | | (2,906 | ) | | | — | | | 258 | | | | — | | | (1,735 | ) | | | — | | | (123,035 | ) |
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Income Taxes | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | | | | — | | | — | |
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Net Income (Loss) | | $ | (173,469 | ) | | $ | — | | $ | 54,817 | | | $ | — | | $ | (2,906 | ) | | $ | — | | $ | 258 | | | $ | — | | $ | (1,735 | ) | | $ | — | | $ | (123,035 | ) |
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