Summary - Funding Rounds

Founding Date

1996
BNSF Railway is a subsidiary of Berkshire Hathaway

BNSF Railway Income Statement

Annual

USDFY, 2015FY, 2016FY, 2017

Revenue

21.4b19.3b20.7b

Revenue growth, %

(10%)8%

Sales and marketing expense

5.0b4.7b4.9b

General and administrative expense

6.6b5.8b6.2b

Operating expense total

13.6b12.6b13.5b

Depreciation and amortization

2.0b2.1b2.3b

EBIT

7.8b6.6b7.3b

EBIT margin, %

36%34%35%

Interest expense

35.0m50.0m43.0m

Interest income

131.0m197.0m360.0m

Pre tax profit

7.8b6.8b7.6b

Income tax expense

2.9b2.5b(4.5b)

Net Income

4.9b4.3b12.1b

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

4.6b4.4b5.0b5.0b5.1b5.2b

Sales and marketing expense

1.2b1.1b1.2b1.3b1.2b1.1b

General and administrative expense

1.4b1.3b1.5b1.6b1.5b1.5b

Operating expense total

3.1b3.0b3.2b3.5b3.3b3.2b

Depreciation and amortization

517.0m526.0m531.0m571.0m588.0m589.0m

EBIT

1.5b1.5b1.8b1.6b1.8b1.9b

EBIT margin, %

33%33%37%32%35%38%

Interest expense

13.0m15.0m11.0m11.0m10.0m10.0m

Interest income

43.0m47.0m50.0m69.0m82.0m100.0m

Pre tax profit

1.5b1.5b1.9b1.6b1.8b2.0b

Income tax expense

582.0m569.0m709.0m621.0m697.0m786.0m

Net Income

963.0m944.0m1.2b1.0b1.1b1.2b

BNSF Railway Balance Sheet

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

350.0m532.0m2.4b565.0m3.2b516.0m

Accounts Receivable

1.1b1.3b1.4b1.2b1.3b1.7b

Prepaid Expenses

145.0m239.0m256.0m204.0m

Inventories

795.0m825.0m

Current Assets

2.8b3.2b5.2b3.1b5.6b3.2b

PP&E

50.1b52.3b59.5b61.2b62.3b

Goodwill

14.8b14.8b14.8b14.8b14.8b14.8b

Total Assets

70.6b73.5b78.2b79.9b84.1b83.1b

Accounts Payable

416.0m449.0m3.4b303.0m3.4b319.0m

Short-term debt

203.0m145.0m366.0m214.0m735.0m90.0m

Current Liabilities

3.2b3.2b3.8b3.2b4.2b3.2b

Long-term debt

1.6b1.5b18.9b1.6b21.3b1.4b

Total Debt

1.8b17.0b19.3b21.7b22.0b1.4b

Total Liabilities

25.0b25.0b26.6b48.0b20.4b

Common Stock

1.0b42.9b

Additional Paid-in Capital

42.9b42.9b42.9b

Retained Earnings

9.4b13.6b23.0b27.2b39.3b

Total Equity

45.6b48.4b34.7b53.3b36.2b62.7b

Debt to Equity Ratio

0.4 x0.6 x0.4 x0.6 x0 x

Debt to Assets Ratio

0.2 x0.2 x0.3 x0.3 x0 x

Financial Leverage

1.5 x1.5 x2.3 x1.5 x2.3 x1.3 x

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

31.0m310.0m333.0m297.0m49.0m59.0m52.0m286.0m293.0m310.0m396.0m394.0m366.0m221.0m330.0m533.0m829.0m530.0m413.0m

Accounts Receivable

1.1b1.3b1.3b1.5b1.6b1.6b1.7b1.3b1.3b1.3b1.3b1.3b1.4b1.3b1.2b1.4b1.5b1.5b1.7b

Prepaid Expenses

352.0m269.0m246.0m204.0m243.0m277.0m196.0m238.0m212.0m791.0m297.0m494.0m264.0m450.0m537.0m519.0m325.0m294.0m273.0m

Current Assets

2.4b2.9b2.9b3.0b2.9b3.0b2.9b2.9b2.9b3.5b3.1b3.2b3.1b2.8b2.9b3.3b3.5b3.1b3.2b

PP&E

46.5b48.5b49.1b49.7b50.4b50.9b51.6b52.8b53.6b54.7b56.4b57.3b58.4b59.8b60.5b60.9b61.4b61.6b61.9b

Goodwill

14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b14.8b

Total Assets

67.6b69.5b70.0b70.6b71.0b71.6b72.2b73.5b74.3b75.9b76.7b77.8b78.8b80.0b80.8b81.4b82.3b82.2b82.5b

Accounts Payable

2.6b2.9b2.8b2.9b2.8b2.7b2.9b3.1b3.3b3.2b3.2b2.9b3.6b2.9b2.7b3.0b3.2b3.3b3.2b

Short-term debt

269.0m230.0m217.0m206.0m173.0m171.0m1.3b139.0m126.0m120.0m120.0m151.0m148.0m203.0m170.0m170.0m85.0m81.0m85.0m

Current Liabilities

2.9b3.1b3.0b3.1b2.9b2.8b3.0b3.2b3.4b3.4b3.3b3.0b3.7b3.1b2.9b3.2b3.3b3.4b3.3b

Long-term debt

2.0b1.8b1.7b1.7b1.6b1.5b1.5b1.4b1.4b1.4b1.3b1.7b1.7b1.5b1.5b1.5b1.4b1.4b1.4b

Total Debt

2.2b2.0b1.9b1.9b1.8b1.7b1.7b1.6b1.5b1.5b1.4b1.9b1.8b1.7b1.7b1.7b1.5b1.5b1.5b

Total Liabilities

23.7b24.8b24.8b25.0b24.7b24.7b25.1b24.8b25.1b25.1b25.4b25.8b26.7b26.3b26.7b27.2b27.4b27.6b27.6b

Common Stock

1.0k1.0b1.0k1.0k1.0k1.0k1.0k

Additional Paid-in Capital

42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b42.9b

Retained Earnings

3.8b6.4b7.3b8.4b10.3b11.3b12.4b14.5b15.5b16.7b19.3b20.4b21.7b23.9b24.9b26.0b28.2b29.4b30.6b

Total Equity

43.9b44.6b45.2b45.5b46.3b46.9b47.1b48.7b49.2b50.8b51.3b52.0b52.2b53.6b54.1b54.2b54.8b54.6b54.9b

Debt to Equity Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x0 x

Financial Leverage

1.5 x1.6 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x1.5 x

BNSF Railway Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

4.3b3.9b4.9b4.3b12.1b

Depreciation and Amortization

2.0b2.1b2.0b2.1b2.3b

Accounts Receivable

(119.0m)(88.0m)121.0m(201.0m)(237.0m)

Inventories

40.0m

Accounts Payable

(276.0m)85.0m(89.0m)574.0m(282.0m)

Cash From Operating Activities

6.2b6.6b8.0b7.6b7.2b

Purchases of PP&E

(1.5b)

Capital Expenditures

(3.7b)

Cash From Investing Activities

(3.9b)(5.2b)(5.7b)(4.0b)(3.5b)

Long-term Borrowings

(190.0m)(641.0m)(121.0m)(117.0m)(85.0m)

Cash From Financing Activities

(2.2b)(1.2b)(2.3b)(3.6b)(3.8b)

Net Change in Cash

182.0m(20.0m)5.0m(54.0m)

Interest Paid

76.0m859.0m52.0m60.0m61.0m

Income Taxes Paid

2.5b1.4b1.4b1.0b2.1b

Free Cash Flow

2.8b

Quarterly

USDQ1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

789.0m1.7b2.7b912.0m1.9b3.0b848.0m1.9b3.1b1.3b2.4b3.7b963.0m1.9b3.1b1.0b2.2b3.4b

Depreciation and Amortization

462.0m932.0m1.4b483.0m971.0m1.5b514.0m1.0b1.6b495.0m983.0m1.5b517.0m1.0b1.6b571.0m1.2b1.7b

Accounts Receivable

16.0m(17.0m)(184.0m)(417.0m)(435.0m)(504.0m)(12.0m)(16.0m)(72.0m)14.0m86.0m(89.0m)(78.0m)(13.0m)(180.0m)(85.0m)(56.0m)(259.0m)

Accounts Payable

(140.0m)(247.0m)(92.0m)(245.0m)(427.0m)(171.0m)254.0m491.0m(333.0m)284.0m(154.0m)676.0m49.0m(199.0m)324.0m(99.0m)45.0m(85.0m)

Cash From Operating Activities

994.0m2.4b4.0b698.0m2.1b4.2b1.4b3.1b4.1b2.0b3.4b6.2b1.5b3.2b5.5b1.4b3.4b5.1b

Cash From Investing Activities

(956.0m)(1.9b)(2.9b)(752.0m)(1.7b)(2.8b)(1.0b)(2.2b)(3.6b)(1.2b)(2.6b)(4.3b)(1.1b)(2.3b)(3.2b)(843.0m)(1.7b)(2.6b)

Long-term Borrowings

(46.0m)(98.0m)(137.0m)(58.0m)(111.0m)(149.0m)(38.0m)(89.0m)(110.0m)(33.0m)(71.0m)(88.0m)(38.0m)(77.0m)(91.0m)(21.0m)(50.0m)(60.0m)

Cash From Financing Activities

(21.0m)(372.0m)(1.1b)(247.0m)(738.0m)(1.7b)(586.0m)(1.2b)(764.0m)(967.0m)(934.0m)(2.1b)(679.0m)(1.2b)(2.3b)(345.0m)(1.7b)(2.7b)

Net Change in Cash

17.0m40.0m4.0m(301.0m)(291.0m)(298.0m)(246.0m)(239.0m)(222.0m)(189.0m)(191.0m)(219.0m)(344.0m)(235.0m)(32.0m)259.0m(40.0m)(157.0m)

Interest Paid

30.0m43.0m73.0m33.0m41.0m63.0m23.0m33.0m49.0m19.0m22.0m36.0m20.0m35.0m49.0m22.0m36.0m50.0m

Income Taxes Paid

273.0m729.0m1.0b648.0m1.4b1.6b22.0m498.0m1.9b85.0m1.1b791.0m179.0m496.0m613.0m407.0m908.0m1.7b

BNSF Railway Ratios

USDQ2, 2011

Financial Leverage

1.5 x

BNSF Railway Employee Rating

3.11022 votes
Culture & Values
2.6
Work/Life Balance
2.4
Senior Management
2.5
Salary & Benefits
3.9
Career Opportunities
3.1
Source