Alaska Railroad Annual Reports
Alaska Railroad Corporation annual reports from 1982 to the most recently completed fiscal year are available for download. Please see above for links to financial reports.
Notice of Retention of Registered Municipal Advisor (IRMA) - this letter discloses that the railroad has retained an IRMA, Public Financial Management , Inc. (PFM), which will provide advice on proposals on ARRC Capital Grant Receipts Bonds and other bond issues.
2023 Corporate Annual Report (Year in Review and Financials)
2022 Corporate Annual Report (Year in Review and Financials)
For 2022, the Alaska Railroad posted a net income of $39.19 million, with total revenues of $250.24 million and total expenses of $211.05 million. Employees drew upon their experience and fortitude to navigate a year of post-pandemic transition, and drive some record-breaking results.
2021 Corporate Annual Report (Year in Review and Financials)
For 2021, the Alaska Railroad posted a net income of $30.9 million, with total revenues of $198.0 million and total expenses of $167.1 million. Employee excellence and a the flexibility to operate as a business kept ARRC on the road to recovery in 2021.
- April 1, 2022 - News Release announcing annual report
2020 Corporate Annual Report (Year in Review and Financials)
For 2020, the Alaska Railroad posted a net loss of $7.8 million, with total revenues of $150.7 million and total expenses of $158.5 million. During a year of unimaginable pandemic-driven challenges, the railroad balanced multiple expectations in terms of safety, service, mission and finances.
- April 1, 2021 - News Release announcing annual report
2019 Corporate Annual Report (Year in Review and Financials)
In 2019, total revenues increased approximately 7.5% to equal $203.9 million, and corporate net income was $21.6 million. Total assets remain at $1.1 billion.
- April 1, 2020 - News Release announcing annual report
2018 Corporate Annual Report (Year in Review and Financials)
2018 revenues equaled $171.6 million and corporate net income was $18 million. Total assets are $1.1 billion.
- April 1, 2019 - News Release announcing annual report
2017 Corporate Annual Report (Year in Review and Financials)
2017 revenues equaled $191.3 million and corporate net income was $22.4 million. Total assets are $1.1 billion.
2016 Corporate Annual Report (Year in Review and Financials)
2016 revenues equaled $169.8 million and corporate net loss was $4.3 million. Total assets are $1.1 billion.
2015 Corporate Annual Report (Narrative & Financials)
2015 revenues were $183.8 million (including grant revenue of $50 million) and corporate net income was $10.9 million. Total assets are $1.1 billion. Financial statements reflect Generally Accepted Accounting Principles (GASB) accounting rule changes to the way that employee benefit funds (pension and health care trust) are reported.
2014 Corporate Annual Report (Narrative & Financials)
2014 revenues were $190.7 million (including operating and real estate revenue of $148.5 million; and grant revenue of $42.2 million) and corporate net income was $14.1 million. Total assets are $1.07 billion.
2013 Annual Report(Narrative & Financials)
2013 revenues were $188.7 million (including operating and real estate revenue of $148.6 million; and grant revenue of $40.1 million) and corporate net income was $14.3 million. Total assets topped $1 billion for the first time.
2012 Annual Report(Narrative & Financials)
2012 revenues were $189.7 million (including operating and real estate revenue of $145.4 million; and grant revenue of $44.3 million) and corporate net income was $12.5 million.
2011 Annual Report(Narrative & Financials)
2011 revenues were $185.7 million and corporate net income was $13.4 million.
2010 Annual Report Narrative
2010 revenues were $167.1 million, total expenses were $153.7 million and corporate net income was $13.4 million.
2009 Annual Report Narrative
"Despite the economic challenges of 2009, the Alaska Railroad Corporation has remained financially solid. We are poised to weather any further economic downturn or to take advantage of any major Alaska projects in the future. 2009 revenues were $169.4 million, total expenses were $155.5 million and corporate net income was $13.9 million. Total assets grew from $854 million to $861 million. Cash flow remained solid all year long."
2008 Annual Report Narrative
"The Alaska Railroad is on solid financial ground and continuing effective efforts to position itself to respond to uncertain economic challenges. While 2007 brought record net earnings and excellent increases in our real estate and passenger services business, it also heralded the start of a gradual erosion in key revenue sources. The Board of Directors, sensing the approaching economic uncertainty in our largest customers, charged management to start tightening its corporate belt, specifically in all areas of controllable and avoidable costs."
2004 Annual Report Narrative Section
2016 Report to State - published Dec. 2015
2017 Report to State - published Dec. 2016
2018 Report to State - published Dec. 2017
2019 Report to State - published Dec. 2018
2020 Report to State - published Dec. 2019
2021 Report to State - published Dec. 2020
2022 Report to State - published Dec. 2021
2023 Report to State - published Dec. 2022
2024 Report to State - published Dec. 2023
2025 Report to the State - published Nov. 2024