HUTCHINSON, Kan. — The new tax overhaul will skew numbers for corporations, at least in the first quarterly reports of 2018. This proved to be true for Union Pacific as the nation’s largest railroad reported strong earnings in the fourth quarter compared with 2016.

U.P., which carries a total valuation in Reno County of more than $6.2 million, reported net income of $7.2 billion, or $9.25 per share, compared with $1.1 billion, or $1.39 per share, in 2016. Still, without the tax break, the company continued its recovery reporting adjusted net income of $1.2 billion, or $1.52 per share.

The railroad still saw a decline in coal, automotive and grain shipments, while increases came from industrial products, chemicals and intermodal carloads.

Overall, carloads increased by about one percent for the quarter and by two percent for the entire year.