# Indexing the Annual Operating Revenues of Railroads
The Surface Transportation Board (the Board) is publishing the annual inflation-adjusted index and deflator factors for 2022. The deflator factors are used by the railroads to adjust their gross annual operating revenues for classification purposes. This indexing methodology ensures that railroads are classified based on real business expansion and not on the effects of inflation. Classification is important because it determines the extent to which individual railroads must comply with the Board's reporting requirements.
The Board's deflator factors are based on the annual average Railroad Freight Price Index developed by the Bureau of Labor Statistics. The Board's deflator factor is used to deflate revenues for comparison with established revenue thresholds.
| Year | Factor | Class I | Class II |
| --- | --- | --- | --- |
| 2018 | 0.5103 | 489,935,956 | 39,194,876 |
| 2019 | 0.4952 | 504,803,294 | 40,384,263 |
| 2020 | 1.0000 | 900,000,000 | 40,400,000 |
| 2021 | 0.9535 | 943,898,958 | 42,370,575 |
| 2022 | 0.8721 | 1,032,002,719 | 46,325,455 |
**DATES:**
The inflation-adjusted indexes and deflator factors are effective January 1, 2022.
**FOR FURTHER INFORMATION CONTACT:**
Pedro Ramirez at (202) 245-0333. Assistance for the hearing impaired is available through the Federal Relay Service at (800) 877-8339.
Board decisions and notices are available at *www.stb.gov.*
By the Board, William Brennan, Ph.D., Chief Economist & Director, Office of Economics.
Decided: June 23, 2023.
Kenyatta Clay,
Clearance Clerk.