Question-and-Answer Session
Operator
Thank you. Ladies and gentlemen, at this time, we will be conducting a question-and-answer session. (operator instructions). Thank you. Our first question Chris Wetherbee of Merrill Lynch & Company.
Christian Wetherbee - Merrill Lynch
Great. Thanks very much, guys. I wonder if I can touch on yield first. Pat, I think, you mentioned that the FX impact in the quarter was... FX and yield together was down about one-sixth. Does that imply that the FX is kind of north of 7% headwind in the quarter, just want to kind of understand that a bit better?
Patrick Ottensmeyer
Chris, the 1.6 was price and mix. The exchange rate was actually about 1% decrease. But that is I think we said it before that. 70% of our Mexican revenues are... contract revenues are denominated in dollars and the other 30% is denominated in pesos. So, what this reflects the exchange rate impact on the water fall chart is the reduction in U.S. dollar revenues that occurred because of the devaluation of the peso on that portion of the revenue that is peso-denominated. This is the different than the foreign exchange rate that Mike Upchurch just talked about, which is more of an asset-based asset-driven variable. So, this is the revenue impact of the exchange rate devaluation.
Christian Wetherbee - Merrill Lynch
Okay. And is that net for expenses, I guess you've said in the past that your expense, exposure was close to the 45% down in Mexico as far as what's in pesos relative to U.S. dollars, is that right?
Michael Upchurch
Yeah, Chris, this is Mike Upchurch. That's about right. It's in the low 40s. And so, as we looked at the fourth quarter and looked at our peso denominated revenues and expenses and considering kind of a 75% OR there, we looked at that and it's almost a net loss in terms of the revenues and expenses within pesos.
Christian Wetherbee - Merrill Lynch
Okay, that's fair. And then just staying on yield for a second, Pat on the auto side. I kind of missed a bit of what you said there. It looks like the yield was particularly difficult there and it looked like your actually fuel pricing was a bit weaker there too. So, I if you could just kind of grow into that. I know you had a bunch of plans that were offline in the quarter but just from a pricing perspective. Are you getting push back there?
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