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KCSM had made a good faith payment to the Mexick courts ofabout $3 million in December KC Southern said in Monday’s release, and will be obligatedd to make an additional $5 millionn payment in four to six months on the principall claim. KCSM has exhausted its remedies regarding theprincipal claim, KC Southern said. Any applicable interest will be determine d in a separate which KC Southern said it expects to be decided in aboutg a year to16 months.
Including a reservde for estimated interest that could accrue fromthe settlement, KC Southermn and KCSM in its standalone financialp statements will recognize pre-tax expense of abougt $7 million, including about $4 million of principalo and about $3 millioh of interest, in the second quarter. KC Southern ranksd No. 11 on the Kansas City BusinessJournalp ’s list of area public companies.
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