§ 489-ff. Average railway revenues and expenses. 1. The average
railway revenues shall be determined for each railroad company as
follows:

(a) Ascertain so far as may be practicable the revenues which such
railroad company is entitled to receive from transportation service and
from operations incident thereto and from rents derived from property,
other than transportation equipment, used for transportation purposes,
and either increase that amount by the net rental receivable or decrease
it by the net rental payable for the possession or use of transportation
equipment;

(b) Average the revenue ascertained pursuant to paragraph (a) of this
subdivision for the most recent five fiscal years ending on or before
the last day of December immediately preceding the tentative
determination of the railroad ceiling. If a railroad company shall have
operated for less than such five years, then average the revenue for the
number of years of operation immediately preceding the tentative
determination of the railroad ceiling. The result shall be the average
railway revenues.

2. The average railway expenses shall be determined for each railroad
company as follows:

(a) Ascertain so far as may be practicable the expenses incurred in
furnishing transportation service and in operations incident thereto,
including the expense of rents on and maintenance and depreciation of
the property used in the service and taxes for old-age retirement and
unemployment insurance but excluding all other taxes;

(b) Average the expenses ascertained pursuant to paragraph (a) of this
subdivision for the most recent five fiscal years ending on or before
the last day of December immediately preceding the tentative
determination of the railroad ceiling. If a railroad company shall have
operated for less than such five years, then average the expenses for
the number of years of operation immediately preceding the tentative
determination of the railroad ceiling. The result shall be the average
railway expenses.

3. If on the effective date of this title, the major portion of the
property of a railroad company and the management and control of such
company are located outside of the territorial limits of the United
States, the average railway revenues and expenses of such railroad
company shall consist of the revenues and expenses as defined above
attributable to transportation operations in the United States.

4. In making determinations under this section, the commissioner shall
consider the information contained in the income, profit and loss
statements and other financial statements of each railroad company filed
with the interstate commerce commission, and the accounting records
maintained by such railroad company in accordance with the uniform
system of accounts for railroad companies prescribed by the interstate
commerce commission. The commissioner may consider information available
from the commissioner of transportation or other regulatory agency
having jurisdiction over the accounts of such railroad company, as well
as information available from other sources, including reports required
pursuant to section four hundred eighty-nine-nn of this chapter, and
such other information as may be available to it.