2011, effectively handling the 3% increase in carloads.
Maintenance activities and weather disruptions, combined with higher volume levels, led to a 4% decrease in average train speed in 2010 compared to a record set in 2009.
Average Terminal Dwell Time – Average terminal dwell time is the average time that a rail car spends at our terminals.
Lower average terminal dwell time improves asset utilization and service.
Average terminal dwell time increased 3% in 2011 compared to 2010.
Additional volume, weather challenges, track replacement programs, and a shift of traffic mix to more manifest shipments, which require additional terminal processing, all contributed to the increase.
Average terminal dwell time increased 2% in 2010 compared to 2009, driven in part by our network plan to increase the length of numerous trains to improve overall efficiency, which resulted in higher terminal dwell time for some cars.
Average Rail Car Inventory – Average rail car inventory is the daily average number of rail cars on our lines, including rail cars in storage.
Lower average rail car inventory reduces congestion in our yards and sidings, which increases train speed, reduces average terminal dwell time, and improves rail car utilization.
Average rail car inventory decreased slightly in 2011 compared to 2010, as we continued to adjust the size of our freight car fleet.
Average rail car inventory decreased 3% in 2010 compared to 2009, while we handled a 13% increase in carloads during the period compared to 2009.
We maintained more freight cars off-line and retired a number of old freight cars, which drove the decrease.
Gross and Revenue Ton-Miles – Gross ton-miles are calculated by multiplying the weight of loaded and empty freight cars by the number of miles hauled.
Revenue ton-miles are calculated by multiplying the weight of freight by the number of tariff miles.
Gross and revenue-ton-miles increased 5% in 2011 compared to 2010, driven by a 3% increase in carloads and mix changes to heavier commodity groups, notably a 5% increase in energy shipments.
Gross and revenue-ton-miles increased 10% and 9%, respectively, in 2010 compared to 2009 due to a 13% increase in carloads.
Commodity mix changes (notably automotive shipments) drove the variance in year-over-year growth between gross ton-miles, revenue ton-miles and carloads.
Operating Ratio – Operating ratio is our operating expenses reflected as a percentage of operating revenue.
Our operating ratio increased 0.1 points to 70.7% in 2011 versus 2010.
Higher fuel prices, inflation and weather related costs, partially offset by core pricing gains and productivity initiatives, drove the increase.
Our operating ratio improved 5.5 points to 70.6% in 2010 and 1.3 points to 76.1% in 2009.
Efficiently leveraging volume increases, core pricing gains, and productivity initiatives drove the improvement in 2010 and more than offset the impact of higher fuel prices during the year.
Employees – Employee levels were up 5% in 2011 versus 2010, driven by a 3% increase in volume levels, a higher number of trainmen, engineers, and yard employees receiving training during the year, and increased work on capital projects.
Employee levels were down 1% in 2010 compared to 2009 despite a 13% increase in volume levels.
We leveraged the additional volumes through network efficiencies and other productivity initiatives.
In addition, we successfully managed the growth of our fulltime-equivalent train and engine force levels at a rate less than half of our carload growth in 2010.
All other operating functions and support organizations reduced their full-time-equivalent force levels, benefiting from continued productivity initiatives.
Customer Satisfaction Index – Our customer satisfaction survey asks customers to rate how satisfied they are with our performance over the last 12 months on a variety of attributes.
A higher score indicates higher customer satisfaction.
We believe that improvement in survey results in 2011 generally reflects customer recognition of our service quality supported by our capital investment program.
Return on Average Common Shareholders’ Equity
## Table 0 ##
does not change the items which must be reported in other comprehensive income, how such items are measured or when they must be reclassified to net income.
This standard is effective for interim and annual periods beginning after December 15, 2011.
Because this ASU impacts presentation only, it will have no effect on our financial condition, results of operations or cash flows.4.
Stock Options and Other Stock Plans There are 7,140 restricted shares outstanding under the 1992 Restricted Stock Plan for Non-Employee Directors of Union Pacific Corporation.
We no longer grant awards of restricted shares under this plan.
In April 2000, the shareholders approved the Union Pacific Corporation 2000 Directors Plan (Directors Plan) whereby 1,100,000 shares of our common stock were reserved for issuance to our non-employee directors.
Under the Directors Plan, each non-employee director, upon his or her initial election to the Board of Directors, receives a grant of 2,000 retention shares or retention stock units.
Prior to December 31, 2007, each non-employee director received annually an option to purchase at fair value a number of shares of our common stock, not to exceed 10,000 shares during any calendar year, determined by dividing 60,000 by 1/3 of the fair market value of one share of our common stock on the date of such Board of Directors meeting, with the resulting quotient rounded up or down to the nearest 50 shares.
In September 2007, the Board of Directors eliminated the annual payment of options for 2008 and all future years.
As of December 31, 2011, 18,000 restricted shares and 219,900 options were outstanding under the Directors Plan.
The Union Pacific Corporation 2001 Stock Incentive Plan (2001 Plan) was approved by the shareholders in April 2001.
The 2001 Plan reserved 24,000,000 shares of our common stock for issuance to eligible employees of the Corporation and its subsidiaries in the form of non-qualified options, incentive stock options, retention shares, stock units, and incentive bonus awards.
Non-employee directors were not eligible for awards under the 2001 Plan.
As of December 31, 2011, 545,696 options were outstanding under the 2001 Plan.
We no longer grant any stock options or other stock or unit awards under this plan.
The Union Pacific Corporation 2004 Stock Incentive Plan (2004 Plan) was approved by shareholders in April 2004.
The 2004 Plan reserved 42,000,000 shares of our common stock for issuance, plus any shares subject to awards made under the 2001 Plan and the 1993 Plan that were outstanding on April 16, 2004, and became available for regrant pursuant to the terms of the 2004 Plan.
Under the 2004 Plan, non-qualified options, stock appreciation rights, retention shares, stock units, and incentive bonus awards may be granted to eligible employees of the Corporation and its subsidiaries.
Non-employee directors are not eligible for awards under the 2004 Plan.
As of December 31, 2011, 6,276,021 options and 3,760,260 retention shares and stock units were outstanding under the 2004 Plan.
Pursuant to the above plans 32,374,343; 32,904,291; and 33,559,150 shares of our common stock were authorized and available for grant at December 31, 2011, 2010, and 2009, respectively.
Stock-Based Compensation – We have several stock-based compensation plans under which employees and non-employee directors receive stock options, nonvested retention shares, and nonvested stock units.
We refer to the nonvested shares and stock units collectively as “retention awards”.
We have elected to issue treasury shares to cover option exercises and stock unit vestings, while new shares are issued when retention shares are granted.
Information regarding stock-based compensation appears in the table below:
## Table 1 ##
Position.
At December 31, 2013, and 2012, receivables classified as other assets were reduced by allowances of $22 million and $33 million, respectively.
Receivables Securitization Facility – The Railroad maintains a $600 million, 364-day receivables securitization facility under which it sells most of its eligible third-party receivables to Union Pacific Receivables, Inc.  (UPRI), a wholly-owned, bankruptcy-remote subsidiary that may subsequently transfer, without recourse an undivided interest in accounts receivable to investors.
The investors have no recourse to the Railroad’s other assets except for customary warranty and indemnity claims.
Creditors of the Railroad do not have recourse to the assets of UPRI.
The amount outstanding under the facility was $0 and $100 million at December 31, 2013, and December 31, 2012, respectively.
The facility was supported by $1.1 billion of accounts receivable as collateral at both December 31, 2013, and December 31, 2012, which, as a retained interest, is included in accounts receivable, net in our Condensed Consolidated Statements of Financial Position.
The outstanding amount the Railroad is allowed to maintain under the facility, with a maximum of $600 million, may fluctuate based on the availability of eligible receivables and is directly affected by business volumes and credit risks, including receivables payment quality measures such as default and dilution ratios.
If default or dilution ratios increase one percent, the allowable outstanding amount under the facility would not materially change.
The costs of the receivables securitization facility include interest, which will vary based on prevailing commercial paper rates, program fees paid to banks, commercial paper issuing costs, and fees for unused commitment availability.
The costs of the receivables securitization facility are included in interest expense and were $5 million, $3 million and $4 million for 2013, 2012, and 2011, respectively.
In July 2013, the $600 million receivables securitization facility was renewed for an additional 364-day period at comparable terms and conditions.11.
Properties The following tables list the major categories of property and equipment, as well as the weighted-average estimated useful life for each category (in years):
## Table 2 ##
[a] Other roadway includes grading, bridges and tunnels, signals, buildings, and other road assets.

<table><tr><td><i>Millions, Except Percentages</i></td><td><i>2011</i></td><td><i>2010</i></td><td><i>2009</i></td></tr><tr><td>Net income</td><td>$3,292</td><td>$2,780</td><td>$1,890</td></tr><tr><td>Average equity</td><td>$18,171</td><td>$17,282</td><td>$16,058</td></tr><tr><td>Return on average commonshareholders’ equity</td><td>18.1%</td><td>16.1%</td><td>11.8%</td></tr></table>
<table><tr><td><i>Millions</i></td><td> <i>2011</i></td><td><i>2010</i></td><td><i>2009</i></td></tr><tr><td>Stock-based compensation, before tax:</td><td></td><td></td><td></td></tr><tr><td>Stock options</td><td>$18</td><td>$17</td><td>$19</td></tr><tr><td>Retention awards</td><td>64</td><td>57</td><td>39</td></tr><tr><td>Total stock-based compensation, before tax</td><td>$82</td><td>$74</td><td>$58</td></tr><tr><td>Excess tax benefits from equitycompensation plans</td><td>$83</td><td>$51</td><td>$10</td></tr></table>
<table><tr><td><i>Millions, Except Estimated UsefulLife</i><i>As of December 31, 2013</i></td><td rowspan="2"><i>Cost</i> $5,120</td><td rowspan="2"><i>AccumulatedDepreciation</i> $N/A</td><td rowspan="2"><i>Net BookValue</i> $5,120</td><td rowspan="2"><i>EstimatedUseful Life</i> N/A</td></tr><tr><td>Land</td></tr><tr><td>Road:</td><td></td><td></td><td></td><td></td></tr><tr><td>Rail and other track material</td><td>13,861</td><td>4,970</td><td>8,891</td><td>35</td></tr><tr><td>Ties</td><td>8,785</td><td>2,310</td><td>6,475</td><td>33</td></tr><tr><td>Ballast</td><td>4,621</td><td>1,171</td><td>3,450</td><td>34</td></tr><tr><td>Other roadway [a]</td><td>15,596</td><td>2,726</td><td>12,870</td><td>48</td></tr><tr><td>Total road</td><td>42,863</td><td>11,177</td><td>31,686</td><td>N/A</td></tr><tr><td>Equipment:</td><td></td><td></td><td></td><td></td></tr><tr><td>Locomotives</td><td>7,518</td><td>3,481</td><td>4,037</td><td>20</td></tr><tr><td>Freight cars</td><td>2,085</td><td>1,000</td><td>1,085</td><td>25</td></tr><tr><td>Work equipment and other</td><td>561</td><td>119</td><td>442</td><td>18</td></tr><tr><td>Total equipment</td><td>10,164</td><td>4,600</td><td>5,564</td><td>N/A</td></tr><tr><td>Technology and other</td><td>711</td><td>286</td><td>425</td><td>10</td></tr><tr><td>Construction in progress</td><td>954</td><td>-</td><td>954</td><td>N/A</td></tr><tr><td>Total</td><td>$59,812</td><td>$16,063</td><td>$43,749</td><td>N/A</td></tr></table>

Question: What's the average of Average equity of 2009, and Ballast of data 2 [EMPTY].2 ?