BURLINGTON NORTHERN SANTA FE, LLC

CIK:0000934612|SEC Filings

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 6,577	$ 5,742	$ 12,547	$ 11,435
Operating expenses:
Compensation and benefits	1,398	1,372	2,772	2,759
Fuel	1,173	698	1,941	1,468
Depreciation and amortization	702	683	1,397	1,358
Purchased services	536	516	1,089	1,054
Equipment rents	178	171	356	353
Materials and other	320	289	676	610
Total operating expenses	4,307	3,729	8,231	7,602
Operating income	2,270	2,013	4,316	3,833
Interest expense	276	270	553	542
Other (income) expense, net	(67)	(66)	(118)	(121)
Income before income taxes	2,061	1,809	3,881	3,412
Income Tax Expense (Benefit)	503	343	946	732
Net income	$ 1,558	$ 1,466	$ 2,935	$ 2,680

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 2,935	$ 2,680
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,397	1,358
Deferred income taxes	168	(69)
Other, net	(145)	(179)
Changes in current assets and liabilities:
Accounts receivable, net	(167)	57
Materials and supplies	(110)	(11)
Other current assets	129	129
Accounts payable and other current liabilities	36	(386)
Net cash provided by operating activities	4,243	3,579
Investing Activities
Capital expenditures excluding equipment	(1,563)	(1,469)
Acquisition of equipment	(177)	(129)
Purchases of investments and investments in time deposits	(590)	(1)
Other, net	(99)	(60)
Net cash used in investing activities	(2,429)	(1,659)
Financing Activities
Proceeds from issuance of long-term debt	0	900
Payments on long-term debt and finance leases	(535)	(531)
Distributions	(2,300)	(2,200)
Other, net	(1)	(12)
Net cash used in financing activities	(2,836)	(1,843)
Increase (decrease) in cash and cash equivalents	(1,022)	77
Cash and cash equivalents:
Beginning of period	2,463	2,004
End of period	1,441	2,081
Supplemental Cash Flow Information
Interest paid, net of amounts capitalized	555	561
Capital investments accrued but not yet paid	174	163
Income taxes paid, net of refunds	$ 877	$ 885

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,441	$ 2,463
Short-Term Investments in U.S. Treasury Bills	590	0
Accounts receivable, net	1,487	1,320
Materials and supplies	1,176	1,066
Other current assets	252	162
Total current assets	4,946	5,011
Property and equipment, net of accumulated depreciation of $23,215 and $22,327, respectively	72,776	72,372
Goodwill	15,351	15,351
Operating lease right-of-use assets	1,108	1,207
Other assets	4,007	3,948
Total assets	98,188	97,889
Current liabilities:
Accounts payable and other current liabilities	3,994	3,856
Long-term debt and finance leases due within one year	574	571
Total current liabilities	4,568	4,427
Long-term debt and finance leases	22,956	23,491
Deferred income taxes	16,150	15,985
Operating lease liabilities	840	903
Casualty and environmental liabilities	349	364
Pension and retiree health and welfare liability	158	164
Other liabilities	907	921
Total liabilities	45,928	46,255
Commitments and contingencies (see Note 7)
Equity:
Member’s equity	51,771	51,136
Accumulated other comprehensive income (loss)	489	498
Total equity	52,260	51,634
Total liabilities and equity	$ 98,188	$ 97,889