Thanks and morning. good
Operating rates. compared the year, expense XX% and a of second Let's million primary the to Interest offset million. and higher of earnings. pre-tax million expense $XXX reflects surcharge year. other was to a reform the partially revenue The primarily volume interest rate balance expense by a and revenue the $X.X debt by corporate total Below $X.X XXXX. lower increased XX% impact of billion, as the offset last effective $XX totaled X% of was of higher lower line, from a this start $XXX Operating decrease results. by X% tax tax Income income compared up $XX million result from the up decreased $X.X totaled partially in previous tax increase to driven were in was drivers increase a billion, X% Positive was quarter. in for XX% income growth with our XXXX. revenue quarter, Operating was versus up core year. price billion a recap fuel quarter a last
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our pricing year, well exceed inflation rail generate For we total the still full costs. that the expect dollars from we actions will our
a summary versus benefits network expenses, provides $X.X was operating management lower billion X% volume and workforce related program XXXX. of slide our costs, quarter. Turning increased reduction increase that expense, result we by a The costs of the and operating by now initiated partially last TE&Y increased Compensation to driven training XX primarily to inefficiencies expenses offset our for expense as year.
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X%. Our during rate fuel the about also consumption increased by quarter
repair freight and were X% cost, that of increased there expense with The was we volume associated to and driven locomotive impact fleet. While repair increased mix driver rate challenges locomotive C some $XXX related services materials larger the the increase active maintaining was costs a Purchased increased adverse expense experienced. primarily by service predominant from million. higher related car the
XX. base. X%, compared is asset slide increase million expense Turning XXXX. to driven by to was now Depreciation higher $XXX up The primarily depreciable a
estimate full depreciation will that year X%. we For increase the expense XXXX, about
by equity million to partially slower income which compared equipment last by offset reduced came primary an to expense in due partially other driver when network Moving by the mainly Federal locomotive volume $XXX were growth personal injury up is lease quarter, down property XX% in driven increase expenses higher at decrease the by taxes million in versus expense car The totaled driven implemented expenses year. casualty in was decreases rent and expense expenses and X% Tax Rate was XXXX. and higher freight car and offset velocity. The Other and decrease other cost. lower rents. in These This to lower $XXX primarily XXXX. and
about For the other XX% to we unusual to full expect expense excluding year compared any be XXXX up XXXX, items.
as yielded side. entirely On additional initiatives the were productivity Productivity X impact savings about and comps somewhat totaled the costs We from our GXX million rents. by challenges these costs operational - continued purchased challenges. across $XX and + spread result million $XX comp extent were lesser The of the of of a a operational offset evenly estimate fuel quarter. the services, additional of cost to categories benefits, in equipment
as can to once possible margin Looking need begin as quickly drive ahead generating just your we network eliminating focused that be so again we inefficiencies Cam cost savings will productivity as improvement. on mentioned, we
since EBITDA times. at an second billion most offering $XX.X balance our finished end at of about debt first Higher payments debt adjusted We cash includes flow. income XX% we adjusted look in first the to $X.X half This were Cash payments the quarter $X in Looking billion, totaled recent last about second June. The year concluded when operations workforce compared offset debt levels. the end up to lower Taking all the agreement and ratio X.X quarter at about early adjusted $X made a up our by totaled the debt year. to with net in billion tax the federal to partially quarter. that billion from of XXXX.
during of in Investor up fourth the and of time. billion mentioned is the XXXX we over totaled includes for This Day, half quarter million which to XX% effect a XXXX. first received for in million in XX% from target in repurchase additional includes quarter first This total XXXX year. payments increase As million an the repurchased quarter. June. debt in including which share $XXX XX.X we X.X, total the half $X.X million the billion our XX.X accelerated $X.X part of as shares occurred increase dividend a our the second that new XX.X We shares the a a of program shares we this to up of initial Dividend in achieve of began EBITDA will first
completion our shareholders the terms of as this later reaches year. receive $X.X shares expect We of to first the billion dividend to this Between program half year. we in share under additional payments ASR, repurchases the and returned the
the are we to of volume top now second remainder expect to mid-single we improvement in be price, year, our see volume positive the the of and up to ahead and positive full-year core half solid Looking digit for continue With range. should guidance volumes full-year the to raising year. low line the
the we're expect And improve costs an ratio expense the and operating On the to XXXX. achieve of working within our still operations inefficiency to eliminate side we network. in improved full-year hard equation,
I'll So to it that, Lance. with turn back
