Precision Railroading in 2012. This advantage has largely been erased, and we expect just a 200bps difference in operating ratios in 2017. Figure I. Canadian ATM's 2004-2017E (2004=100) [Figure 2: CNI's cost advantage has largely been erased 140 137.5 20% oc" 18% 130 .4 16% 17.8% 14.2% 120 a14%