Related Party Transactions

9 Months Ended

Sep. 30, 2025

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

The companies identified as affiliates of BNSF include Berkshire and its subsidiaries. For the nine-month periods ended September 30, 2025 and 2024, the Company declared and paid cash distributions of $3.2 billion and $2.8 billion, respectively, to Berkshire. The Company made tax payments of $877 million and $904 million during the nine-month period ended September 30, 2025 and 2024, respectively, while during both periods the Company received no tax refunds from Berkshire. As of September 30, 2025 and December 31, 2024, the Company had a tax receivable from Berkshire of $41 million and a payable to Berkshire of $86 million, respectively.

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 $922 million and $891 million as of September 30, 2025 and December 31, 2024, respectively. The Company incurred car hire expenditures with TTX of $113 million and $108 million for the three-months and $326 million and $306 million for the nine-months ended September 30, 2025 and 2024, respectively.