Related Party Transactions

12 Months Ended

Dec. 31, 2022

The companies identified as affiliates of BNSF include Berkshire and its subsidiaries. During the years ended December 31, 2022, 2021 and 2020, the Company declared and paid cash distributions of $5.0 billion, $3.8 billion and $4.8 billion, respectively, to Berkshire. For the years ended December 31, 2022, 2021 and 2020, the Company received tax refunds of $20 million, $47 million and $55 million, respectively, from Berkshire, and made tax payments of $1.5 billion, $1.1 billion and $1.1 billion, respectively, to Berkshire. As of December 31, 2022 and 2021, the Company had a payable to Berkshire of $112 million and $124 million, respectively.

BNSF engages in various transactions with related parties in the ordinary course of business. The following table summarizes revenues earned by BNSF for services provided to related parties and expenditures to related parties (in millions):


	Years ended December 31,
	2022		2021		2020
Revenues	$	104	$	106	$	119
Expenditures	$	421	$	385	$	367

North American railroads pay TTX Company (TTX) car hire to use TTX’s freight equipment to serve their customers. BNSF owns 17.4 percent of TTX while other North American railroads own the remaining interest. As the Company possesses the ability to exercise significant influence, but not control, over the operating and financial policies of TTX, BNSF applies the equity method of accounting to its investment. The investment in TTX is recorded in other assets in the Consolidated Balance Sheets, and equity income or losses are recorded in materials and other in the Consolidated Statements of Income. The Company’s investment in TTX was $807 million and $749 million as of December 31, 2022 and 2021, respectively. The Company incurred car hire expenditures with TTX of $409 million and $386 million for the years ended December 31, 2022 and 2021, respectively.