"The railroad is running well, we have a strong capital budget and the right projects are under way to enhance our business franchises," Moorman said. Improving markets and corporate initiatives combined to make 2011 the company's "best-ever year," he noted, with record revenues, operating income, net income and earnings per share.

"Perhaps most importantly, everything that was achieved in 2011 was achieved safely," he said. Employees posted their lowest-ever injury ratio.

"That kind of accomplishment happens only through personal commitment and a culture that puts safety first and I could not be prouder of our people," Moorman wrote.