Private company

BNSF Railway

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons4

American Class I freight railroad

Burlington Northern Santa Fe Railway (reporting mark BNSF) is the largest of the many freight railroads in the United States. One of six North American Class I railroads, BNSF has 36,000 employees, 33,400 miles (53,800 km) of track in 28 states, and over 8,000 locomotives. It has three transcontinental routes that provide rail connections between the western and eastern United States.3 Its revenue was $25.9 billion in 2022.1 It is part of Burlington Northern Santa Fe Corporation.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

Sep 22, 1995Founded1
  • Industryrail transport1
  • HeadquartersFort Worth1
  • Websitewww.bnsf.com
  • Legal formlimited liability company1
  • Business address2650 Lou Menk Dr, Ft Worth, Tx 76131-28305
  • Filer categoryNon-accelerated filer5
BNSF 5350 20040808 Prairie du Chien WI
Photo: User Slambo on en.wikipedia (same as Slambo here), CC BY-SA 2.0, via Wikimedia Commons7

Burlington Northern Santa Fe Railway (reporting mark BNSF) is the largest of the many freight railroads in the United States. One of six North American Class I railroads, BNSF has 36,000 employees, 33,400 miles (53,800 km) of track in 28 states, and over 8,000 locomotives. It has three transcontinental routes that provide rail connections between the western and eastern United States. BNSF trains traveled over 169 million miles (272 million kilometers) in 2010, more than any other North American railroad.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

34.4%Operating margin8
23.4%Net margin8
-0.1%Revenue growth, 20258
10.6%Return on equity8
0.45×Debt to equity8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs69¢$16.2B
  • Income tax7¢$1.7B
  • Profit23¢$5.5B

Out of $23.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$8.1B

Out of $8.1B of cash from operations.8

Financial statements

Revenue91011128$23.4B in 2025−0% since 2019
0$10.0B$20.0B$30.0B2019: $23.5B$23.5B20192020: $20.9B$20.9B2020−11%2021: $23.3B$23.3B2021+12%2022: $25.9B$25.9B2022+11%2023: $23.9B$23.9B2023−8%2024: $23.4B$23.4B2024−2%2025: $23.4B$23.4B2025−0%
Operating income91011128$8.1B in 2025−0% since 2019
0$2.5B$5.0B$7.5B$10.0B2019: $8.1B$8.1B20192020: $7.7B$7.7B2020−4%2021: $8.8B$8.8B2021+14%2022: $8.6B$8.6B2022−2%2023: $7.4B$7.4B2023−14%2024: $7.5B$7.5B2024+1%2025: $8.1B$8.1B2025+8%
Net income91011128$5.5B in 2025−0% since 2019
0$2.0B$4.0B$6.0B2019: $5.5B$5.5B20192020: $5.2B$5.2B2020−6%2021: $6.0B$6.0B2021+16%2022: $5.9B$5.9B2022−1%2023: $5.1B$5.1B2023−14%2024: $5.0B$5.0B2024−1%2025: $5.5B$5.5B2025+9%
Fiscal year2019202020212022202320242025
Revenue$23.5B9$20.9B10$23.3B11$25.9B12$23.9B8$23.4B8$23.4B8
Operating expenses$14.5B11$17.3B12$16.5B8$16.0B8$15.4B8
Operating income$8.1B9$7.7B10$8.8B11$8.6B12$7.4B8$7.5B8$8.1B8
Income before tax$7.9B11$7.7B12$6.6B8$6.6B8$7.2B8
Income tax$1.8B9$1.6B10$1.9B11$1.8B12$1.5B8$1.6B8$1.7B8
Net income$5.5B9$5.2B10$6.0B11$5.9B12$5.1B8$5.0B8$5.5B8

Compare BNSF Railway with another company

Corporate structure

BNSF Railway is part of a group headed by Burlington Northern Santa Fe Corporation. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Burlington Northern Santa Fe Corporation Fort Worth
    • BNSF Railway Fort Worth
      • Burlington Northern Santa Fe Manitoba Subsidiary
      • Ancona Station Owned · Ancona, United States
      • Ash Fork Station Owned · Ash Fork, United States
      • Belmont Tunnel Owned · Nebraska, United States
      • Bingen – White Salmon Owned · Bingen, United States
      • BNSF Railway Line Owned · Chicago, United States
      • Burlington Northern Railroad Bridge 5.1 Owned · Oregon, United States
      • Centennial Station Owned · Lacey, United States
      • Centralia station Owned · Centralia, United States
      • Chicago Subdivision Owned · Chicago metropolitan area, United States
      • Coal City Station Owned · Coal City, United States
      • Creston Owned · Creston, United States
      • Fargo Railway Station Owned · Fargo, United States
      • Fullerton Transportation Center Owned · Fullerton, United States
      • Great Northern Tunnel Owned · Washington, United States
      • Heartland Flyer Owned · Texas, United States
      • Hinckley Subdivision Owned · United States
      • Inland Empire–Orange County Line Owned · United States
      • Mazon Station Owned · Mazon, United States
      • Northern Lights Express Owned · Minnesota, United States
      • Northstar Line Owned · Minnesota, United States
      • Orange County Line Owned · Los Angeles County, United States
      • Oregon Slough Railroad Bridge Owned · Portland, United States
      • Rugby station Owned · Rugby, United States
      • San Joaquin Street station Owned · Stockton, United States
      • and 7 more

Built from subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What BNSF Railway reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$94.7B8 Dec 31, 2025$91.7B8 Dec 31, 2024+3.3%
Accumulated depreciation$22.3B8 Dec 31, 2025$20.4B8 Dec 31, 2024+9.4%
Property and equipment, net$72.4B8 Dec 31, 2025$71.3B8 Dec 31, 2024+1.6%
Finance-lease assets$110.0M8 Dec 31, 2025$121.0M8 Dec 31, 2024−9.1%
Operating-lease assets (leased space)$1.2B8 Dec 31, 2025$1.2B8 Dec 31, 2024+1.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.5B8 Dec 31, 2025$2.0B8 Dec 31, 2024+22.9%
Stakes in other companies (equity method)$930.0M8 Dec 31, 2025$891.0M8 Dec 31, 2024+4.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$15.4B8 Dec 31, 2025$15.4B8 Dec 31, 20240%

Properties, in its own words

Track Configuration

BNSF Railway operates one of the largest railroad networks in North America. BNSF Railway operates over 32,500 route miles of track (excluding multiple main tracks, yard tracks, and sidings) in 28 states and also operates in three Canadian provinces. BNSF Railway owns over 23,000 route miles, including easements, and operates on over 9,000 route miles of trackage rights that permit BNSF Railway to operate its trains with its crews over other railroads’ tracks. As of December 31, 2025, the total BNSF Railway system (including single and multiple main tracks, yard tracks, and sidings) consisted of over 50,000 operated miles of track.

The rest of Item 2

Property and Facilities

BNSF Railway operates various facilities and equipment to support its transportation system, including its infrastructure and locomotives and freight cars. It also owns or leases other equipment to support rail operations, such as vehicles. Support facilities for rail operations include yards and terminals throughout its rail network, system locomotive shops to perform locomotive servicing and maintenance, a centralized network operations center for train dispatching and network operations monitoring and management, computers, telecommunications equipment, signal systems, and other support systems. Transfer facilities are maintained for rail-to-rail as well as intermodal transfer of containers, trailers, and other freight traffic. These facilities include approximately 27 intermodal hubs located across the system.

As of December 31, 2025, BNSF Railway owned or held under non-cancelable leases exceeding one year approximately 6,700 locomotives and 70,700 freight cars, in addition to maintenance of way and other equipment.

In the ordinary course of business, BNSF incurs significant costs in repairing and maintaining its properties. In 2025, BNSF recorded approximately $2.4 billion in repairs and maintenance expense in the Consolidated Statements of Income.

Business Mix

In serving the Midwest, Pacific Northwest, Western, Southwestern, and Southeastern regions and ports of the country, BNSF transports, through one operating transportation services segment, a range of products and commodities derived from the manufacturing, agricultural, and natural resource industries. Freight revenues of the Company are covered by contractual agreements of varying durations or common carrier published prices or quotations offered by BNSF Railway. BNSF’s financial performance is influenced by, among other things, general and industry economic conditions at the international, national, and regional levels. The following map illustrates BNSF Railway’s primary routes, including trackage rights, which allow BNSF Railway to access major cities and western and southern ports in the U.S. as well as Canadian and Mexican traffic. In addition to major cities and ports, BNSF Railway efficiently serves many smaller markets by working closely with approximately 200 shortline railroads. BNSF Railway has also entered into marketing agreements with other rail carriers, expanding the marketing reach for each railroad and our collective customers.

Consumer Products:

The Consumer Products freight business provided 36 percent of freight revenues for the year ended December 31, 2025, and consisted of the following business units: Domestic Intermodal (including Truckload/Intermodal Marketing Companies and Expedited Truckload/Less-than-Truckload/Parcel), International Intermodal, and Automotive.

Agricultural and Energy Products:

The transportation of Agricultural and Energy Products provided 29 percent of freight revenues for the year ended December 31, 2025. These products include corn, wheat, ethanol, soybeans, bulk foods, fertilizer, oil seeds and meals, feeds, oils, flour and mill products, specialty grains, milo, barley, oats and rye, malt, renewable fuels and petroleum fuels.

Industrial Products:

The Industrial Products freight business provided 22 percent of freight revenues for the year ended December 31, 2025, and consisted of the following five business units: Construction Products, Petroleum Products, Building Products, Chemicals and Plastics Products, and Food and Beverages.

Coal:

The transportation of coal contributed 13 percent of freight revenues for the year ended December 31, 2025, with more than 90 percent of all of BNSF Railway’s coal tons originating from the Powder River Basin of Wyoming and Montana.

Government Regulation and Legislation

BNSF Railway’s rail operations are subject to the regulatory jurisdiction of the STB, the Federal Railroad Administration of the U.S. Department of Transportation (DOT), the Occupational Safety and Health Administration (OSHA), the Environmental Protection Agency (EPA), as well as other federal and state regulatory agencies and Canadian regulatory agencies for operations in Canada. The STB has jurisdiction over disputes and complaints involving certain rates, routes and services, the sale or abandonment of rail lines, applications for line extensions and construction, and consolidation or merger with, or acquisition of control of, rail common carriers. The outcome of STB proceedings can affect the profitability of BNSF’s business.

DOT, OSHA, and EPA have jurisdiction under several federal statutes over a number of safety, health, and environmental aspects of rail operations, including the transportation of hazardous materials. State agencies regulate some health, safety, and environmental aspects of rail operations in areas not otherwise preempted by federal law.

Further discussion is incorporated by reference from Note 14 to the Consolidated Financial Statements.

Competition

Item 2 of the 10-K filed Mar 2, 2026.19

Stakes and holdings (Wikidata)

  • Ancona Station
  • Ash Fork Station
  • BNSF Railway Line
  • Belmont Tunnel
  • Bingen – White Salmon
  • Burlington Northern Railroad Bridge 5.1
  • Centennial Station
  • Centralia station
  • Chicago Subdivision
  • Coal City Station
  • Creston
  • Fargo Railway Station
  • Fullerton Transportation Center
  • Great Northern Tunnel
  • Heartland Flyer
  • Hinckley Subdivision
  • Inland Empire–Orange County Line
  • Mazon Station
  • Northern Lights Express
  • Northstar Line
  • Orange County Line
  • Oregon Slough Railroad Bridge
  • Rugby station
  • San Joaquin Street station
All 31 holdings
  • Sandpoint station
  • St. Charles Air Line
  • St. Cloud
  • Streator
  • Tacoma station
  • Wayzata Subdivision
  • Wishram

Things Wikidata records the company as owning, with the share when stated.1

The story

BNSF's history dates to 1849, when the Aurora Branch Railroad in Illinois and the Pacific Railroad of Missouri were formed by a group of millers who were granted a charter to build a 12 miles (19 km)-long railroad that connected Aurora with the Galena & Chicago Union Rail Road. The Aurora Branch eventually grew into the Chicago, Burlington and Quincy Railroad (CB&Q), a major component of successor Burlington Northern. Part of the Pacific Railroad became the St. Louis-San Francisco Railway (Frisco).

The Atchison, Topeka and Santa Fe Railway (ATSF) was chartered in 1859. It built one of the first transcontinental railroads in North America, linking Chicago and Southern California; major branches led to Texas, Denver, and San Francisco. The Interstate Commerce Commission denied a proposed merger with the Southern Pacific Transportation Company in the 1980s.

The Burlington Northern Railroad (BN) was created in 1970 through the consolidation of the Chicago, Burlington and Quincy Railroad, the Great Northern Railway, the Northern Pacific Railway and the Spokane, Portland and Seattle Railway. It absorbed the St. Louis-San Francisco Railway (Frisco) in 1980. Its main lines included Chicago-Seattle with branches to Texas (ex-Burlington) and Birmingham, Alabama (ex-Frisco), and access to the low-sulfur coal of Wyoming's Powder River Basin.

The city of Burlington, Iowa is the namesake of Burlington in each of Chicago, Burlington and Quincy Railroad, Burlington Northern Railroad, and BNSF.

BN-ATSF merger

On June 30, 1994, BN and ATSF announced plans to merge. They were the largest and smallest (by track mileage) of the "Super Seven", the seven largest of the then-twelve U.S. Class I railroads. The long-rumored announcement was delayed by a disagreement over the disposition of Santa Fe Pacific Gold Corporation, a gold mining subsidiary that ATSF agreed to sell to stockholders. This announcement began the next wave of mergers, as the "Super Seven" were merged down to four in the next five years. The Illinois Central Railroad and Kansas City Southern Railway (KCS), two of the five "small" Class Is, announced on July 19 that the former would buy the latter, but this plan was called off on October 25. The Union Pacific Railroad (UP), another major Western system, started a bidding war with BN for control of the SF on October 5. The UP gave up on January 31, 1995, paving the way for the BN-ATSF merger. Subsequently, the UP acquired the Southern Pacific Transportation Company (SP) in 1996, and Eastern U.S. systems CSX Transportation and Norfolk Southern Railway split Conrail in 1999.

On February 7, 1995, BN and ATSF heads Gerald Grinstein and Robert D. Krebs announced that shareholders had approved the plan, which would save overhead costs and combine BN's coal and ATSF's intermodal strengths. Although the two systems complemented each other with little overlap, in contrast to the Santa Fe-Southern Pacific merger, which failed because it would have eliminated competition in many areas of the Southwest, BN and ATSF came to agreements with most other Class Is to keep them from opposing the merger. UP was satisfied with a single segment of trackage rights from Abilene, Kansas, to Superior, Nebraska, which BN and ATSF had both served. KCS gained haulage rights to several Midwest locations, including Omaha, East St. Louis, and Memphis, in exchange for BNSF getting similar access to New Orleans. SP, initially requesting far-reaching trackage rights throughout the West, soon agreed to a reduced plan, whereby SP acquired trackage rights on ATSF for intermodal and automotive traffic to Chicago, and other trackage rights on ATSF in Kansas, south to Texas, and between Colorado and Texas. In exchange, SP assigned BNSF trackage rights over the former Chicago, Rock Island and Pacific Railroad between El Paso and Topeka and haulage rights to the Mexican border at Eagle Pass, Texas. Regional Toledo, Peoria and Western Railway also obtained trackage rights over BN from Peoria to Galesburg, Illinois, a BN hub where it could interchange with SP (which had rights on BN dating from 1990). The Interstate Commerce Commission (ICC) approved the BNSF merger on July 20, 1995 (with final approval on August 23), less than a month before UP announced on August 3 that it would acquire SP. Parents Burlington Northern Inc. and Santa Fe Pacific Corporation were acquired on September 22, 1995, by the new Burlington Northern Santa Fe Corporation. The merger of the operating companies was held up by issues with unions; ATSF merged on December 31, 1996, into BN, which was renamed the Burlington Northern and Santa Fe Railway Company.

Effect of UP-SP merger

Union Pacific's merger with Southern Pacific further enlarged the combined BNSF network. Unlike BN and ATSF, UP and SP had significant overlap, where the end of competition between the two risked creating a monopoly for freight carriage in much of the West. UP and BNSF announced in late September 1995 that, in exchange for BNSF not opposing the merger, it would obtain ownership of 335 miles (539 km) of line and about 3,500 miles (5,600 km) of trackage rights to reach these "two-to-one" shippers. Significant additions included rights over SP's Central Corridor from Denver via the Moffat Tunnel and Salt Lake City, and over Donner Pass, to the San Francisco Bay Area, with an alternate route through the Feather River Canyon along UP. The ATSF trackage in California's Central Valley was linked to BN's line into Oregon, through trackage rights over UP between Stockton and Keddie and acquisition of UP's section of the "Inside Gateway" to the beginning of BN trackage at Bieber. In Texas, BNSF received rights in several directions from the Houston area: west over UP to San Antonio, with a branch to Waco, and continuing over SP to Eagle Pass (replacing the haulage rights they had just obtained); south over UP to Brownsville; east over SP to New Orleans (including the purchase of this line east of Lake Charles); and northeast over SP to Memphis with a branch on UP to Little Rock. Ownership of a short connection between Waxahachie and Dallas also went from UP to BNSF. UP, in return, got a few short sections of trackage rights over BNSF, mainly connecting the SP at Chemult to the UP at Bend, Oregon, and connecting the SP at Mojave, California with existing UP rights on ATSF at Barstow, California. On April 18, 1996, UP, BNSF, and the Chemical Manufacturers Association entered into an agreement giving BNSF rights over the UP line between Houston and East St. Louis, paralleling the Houston-Memphis SP line, and allowing BNSF to participate in the UP's plan for directional running, in which each line would serve through trains in only one direction. The Surface Transportation Board, successor to the ICC, approved the UP-SP merger on July 3, and UP control of SP took effect on September 11, 1996. BNSF trackage rights operations began on the Central Corridor on October 10, and soon thereafter on other lines.

BNSF continued projects started by its predecessors, most notably BN's work on reopening Stampede Pass. BN had closed Stampede Pass, the Northern Pacific Railway's main line across Washington, in 1984, in favor of the ex-Great Northern Railway's Stevens Pass. BN never abandoned the line and began rehabilitating it in early 1996, and the route reopened in early December, relieving the crowded Stevens Pass. The ex-ATSF main line, now known as the Southern Transcon, has also seen steady work to add tracks, giving BNSF more capacity on this major intermodal route.

Read the full text

Attempted merger with CN

On December 20, 1999, BNSF and the recently privatized Canadian National Railway announced plans to combine as subsidiaries of a new holding company, North American Railways, which would control about 50,000 miles (80,000 km) of railroad. With CN's lines primarily in Canada and, through subsidiary Illinois Central Railroad, on a north–south corridor near BNSF's eastern edge, the two systems had little overlap. The combination would have benefited both companies by expanding available cash for capacity improvements and allowing for longer single-system movements. Shippers and the Surface Transportation Board expressed concern and surprise about the timing, since the merger that produced BNSF had been the only one in the 1990s that did not cause severe deterioration in service. On March 17, 2000, the STB imposed a 15-month moratorium on mergers involving any two Class I railroads, citing widespread opposition not only to the merger but its effects, likely starting the final round of mergers into two big systems. BNSF and CN immediately turned to the U.S. Court of Appeals, which on July 14 ruled that the STB's right to regulate mergers allowed a moratorium, and the two railroads called off the merger. The STB released its final rules on June 11, 2001, requiring any new application to merge two Class I railroads, with the exception of smaller Kansas City Southern Railway, to demonstrate that competition would be preserved and address effects of defensive moves by other carriers. No further Class I mergers would take place until the merger between Kansas City Southern and Canadian Pacific on April 14, 2023, creating the Canadian Pacific Kansas City Railway.

Acquisition by Berkshire Hathaway

The Burlington Northern Santa Fe Corporation was incorporated in 1993 to facilitate the merger of Burlington Northern, Incorporated, parent of the Burlington Northern Railroad, and Santa Fe Pacific Corporation, which owned the Atchison, Topeka and Santa Fe Railway (Santa Fe). The corporate merger was consummated on September 22, 1995, at which point shareholders of the previous companies became shareholders of BNSF and the two companies became wholly owned subsidiaries of BNSF. In December 1996, the two holding companies and two railroads were formally merged, and in January 1998 the remaining intermediate holding company was folded into the railroad.

Robert Krebs of Santa Fe Pacific was president of BNSF from the merger until 1999, chief executive from the merger until 2000, and chairman from 1997 until 2002. He was succeeded in all three positions by Matthew K. Rose.

On November 3, 2009, Berkshire Hathaway made a $26 billion offer to buy the remaining 77.4% of Burlington Northern Santa Fe Corporation it did not already own, valuing the purchase at $34 billion. The deal, including Berkshire's previous investment and the assumption of $10 billion in Burlington Northern debt, brings the total value to $44 billion. Consummated February 12, 2010, it is the largest acquisition in Berkshire Hathaway's history.

The deal was structured so that the Burlington Northern Santa Fe Corporation would merge with and into R Acquisition Company, LLC, an indirect, wholly owned subsidiary of Berkshire Hathaway. The deal closed on February 12, 2010, and at the same time, the now merged company changed its name to Burlington Northern Santa Fe, LLC. It remains an indirect, wholly owned subsidiary of Berkshire Hathaway.

Acquisition of Montana Rail Link

In January 2022, BNSF agreed to purchase Montana Rail Link, a private company, for $2 billion, through an "early lease termination". The return to BNSF control required the approval of the Surface Transportation Board, which was approved on March 8, 2023. The railroad had over 900 miles (1,400 km) of track, and served 100 stations. The main classification yard was in Laurel, Montana, with smaller yards in Missoula, Billings, Bozeman and Helena.

BNSF took over MRL operations on January 1, 2024. This absorbed the MRL into BNSF, integrating MRL operations, technology and personnel. All 1,200 employees were offered employment with BNSF.

Proposed merger with CSX Transportation

In August 2025, investor group Ancora Holdings, which recently became CSX's majority shareholder, urged the company to begin exploring a merger agreement with BNSF, the largest class I railroad in the West, in response to the announced proposed mega-merger project between Union Pacific and Norfolk Southern.

Warren Buffett, CEO and president of Berkshire Hathaway, BNSF's parent company, has denied that his railroad is seeking a merger with CSX or to submit a better offer for NS. Company executives also denied rumors of an eventual merger with one of the Eastern Class I rail companies. But the company reported that discussions are underway with CSX to launch new joint intermodal services from Jacksonville, Charlotte, Atlanta, and the ports of New York and Newark to BNSF's intermodal terminals in Phoenix, Kansas City, Barstow, Stockton, and San Bernardino.

From Wikipedia’s article on BNSF Railway, shared under CC BY-SA 4.0.6

Leadership

Who has led BNSF Railway, and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Thomas N. Hund2006–2010

Chief operating officer

  1. Carl R. Ice2006–2010
200020052010201520202025
Board members and other officers (18)

Products and brands

Markets and services

With BNSF's large system, it hauls many different commodities, most notably coal and grain, as well as intermodal freight.

Predecessor Burlington Northern Railroad (BN) entered Wyoming's low-sulfur coal-rich Powder River Basin in the 1970s through construction of the Powder River Basin Joint Line with Union Pacific Railroad predecessor Chicago and North Western Transportation Company. Coal goes north in unit trains on the three-to-four-track Joint Line to Gillette or south to Orin, where older BN lines and other railroads take it in all directions to coal-burning power plants.

BNSF serves over 1,500 grain elevators, located mostly in the Midwest on former BN lines. Depending on where the markets are, this grain may move in any direction in unit trains or wait in silos for demand to rise. Most commonly, grain may move west on the Northern Transcon to the Pacific Northwest and its export terminals, or south to ports in Texas and the Gulf of Mexico.

The Atchison, Topeka and Santa Fe Railway's main contribution to BNSF was the Southern Transcon, a fast intermodal corridor connecting Southern California and Chicago. Most traffic is either trailers of trucking companies such as intermodal partner J. B. Hunt, or containers from the Ports of Long Beach and Los Angeles. The latter begins its trip on the triple-track Alameda Corridor, shared with the Union Pacific Railroad, and then follows BNSF rails from downtown Los Angeles. Its route, the Southern Transcon, has been almost completely double-tracked, and triple-tracking has begun in areas such as Cajon Pass.

Read the full text

BNSF transports Boeing 737 fuselages from the Wichita, Kansas plant to Renton, Washington.

Trackage

BNSF Railway directly owns and operates track in 28 U.S. states: Alabama, Arizona, Arkansas, California, Colorado, Idaho, Illinois, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming. The railway also operates a small amount of track in Canada, including an approximate 30-mile (48 km) section that runs from the U.S.–Canada border to Vancouver, British Columbia, some tracks and a yard in Winnipeg, Manitoba, approximately 70 miles (110 km) of joint track with the Canadian National Railway, which runs south to the U.S. border at Emerson, Manitoba, and less than a kilometer of trackage at the border in Northgate, Saskatchewan.

For administrative purposes, BNSF is divided into two regions and ten operating divisions. The North Region includes the Montana, Northwest, Twin Cities, Heartland and Powder River divisions. The South Region includes the Red River, California, Chicago, Kansas and Southwest divisions. Each division is further divided into subdivisions, which represent segments of track ranging from 300-mile (480 km) mainlines to 10-mile (16 km) branch-lines. The former Texas and Gulf divisions were combined into the Red River Division, and the former Springfield and Nebraska divisions were combined into the Heartland Division, in the spring of 2016.

Not including second, third and fourth main-line trackage, yard trackage, and siding trackage, BNSF directly owns and operates over 24,000 miles (39,000 km) of track. When these additional tracks are counted, the length of track which the railway directly controls rises to more than 50,000 miles (80,000 km).

Additionally, BNSF Railway has gained trackage rights on more than 8,000 miles (13,000 km) of track throughout the United States and Canada. These rights allow the BNSF to operate its own trains with its own crews on competing railroads' main tracks. BNSF locomotives also occasionally show up on competitors' tracks throughout the United States and Canada by way of leases, mileage equalizations, and other contractual arrangements.

Yards and facilities

BNSF operates various facilities all over the United States, plus a yard in Winnipeg, to support its transportation system. Facilities operated by the railway include yards and terminals throughout its rail network, system locomotive shops to perform locomotive service and maintenance, a centralized operations center for train dispatching and network operations monitoring in Fort Worth, and regional dispatching centers.

BNSF Railway also operates numerous transfer facilities throughout the western United States to facilitate the transfer of intermodal containers, trailers, and other freight traffic. BNSF Railway has direct control over a total of 33 intermodal hubs and 23 automotive distribution facilities.

The BNSF mechanical division operates 13 locomotive maintenance facilities that perform preventive maintenance, repairs and servicing of equipment. The largest of these facilities are located in Alliance, Nebraska and Argentine Yard in Kansas City, Kansas. The mechanical division also controls 46 additional facilities responsible for car maintenance and daily running repairs.

The BNSF system mechanical division, a subset of the mechanical division, operates two maintenance-of-way work equipment shops, responsible for performing repairs and preventive maintenance to BNSF's track and equipment, in Brainerd, Minnesota and Galesburg, Illinois. The system mechanical division also operates the Western Fruit Express Company's refrigerated car repair shop in Spokane, Washington.

On October 1, 2022, BNSF Railway announced plans to construct a $1.5 billion state of the art master planned rail facility in Southern California, the first such facility developed by a Class I railroad. The Barstow International Gateway, encompassing approximately 4,500 acres (1,800 ha, 7.0 sq mi), an integrated rail facility, will be located on the west side of Barstow, California. This new facility, when built, will enable more efficient rail operations from the Port of Los Angeles and Port of Long Beach to trains for transport through the Alameda Corridor onto the BNSF mainline to the new facility, and then move across the nation on the eastbound BNSF route network.

In June 2024, BNSF Railway announced plans to develop the Surprise Intermodal/Logistics Center, a regional rail-served facility near Phoenix, Arizona. The planned site is located in northwest Maricopa County and will cover 4,321 acres (1,749 ha) of land. The facility consists of three distinct, interrelated components:

An intermodal facility on 1,770 acres (716 ha), which will provide a transfer hub for rail shipments by containers and trailers.

A logistics park on 1,420 acres (575 ha), which will provide sites for warehouse and distribution facilities.

A logistics center on 1,131 acres (458 ha), providing direct-rail-serviced sites for local industry.

Hump yards

Large freight car hump yards are located throughout the BNSF system.

Barstow, California – Barstow Yard

Galesburg, Illinois – Galesburg Yard

Kansas City, Kansas – Argentine Yard

Lincoln, Nebraska – Hobson Yard

Memphis, Tennessee – Tennessee Yard

Minneapolis, Minnesota – Northtown Yard

Pasco, Washington – Pasco Yard

Tulsa, Oklahoma – Cherokee Yard

Intermodal yards

Location of some intermodal yards:

Cicero, Illinois – Chicago Cicero

Chicago, Illinois – Corwith Intermodal Facility

Commerce, California

Edgerton, Kansas – Logistics Park Kansas City

Elwood, Illinois – Logistics Park Chicago

Hodgkins, Illinois – Willow Springs Intermodal Facility

Haslet, Texas – Alliance Yard

Los Angeles, California – Hobart Yard

Memphis, Tennessee

Oakland, California – Oakland International Gateway

Omaha, Nebraska - Gibson Yard

Seattle, Washington – Seattle International Gateway (SIG) Intermodal Facility

Routes

The Northern Transcon runs between Seattle and Chicago. The route is a combination of parts of the old Great Northern, the Northern Pacific, and the Spokane, Portland and Seattle Railway.

The Southern Transcon runs between Los Angeles and Chicago. The 2006 BNSF Annual Report states: "We also added about 33 miles (53 km) of second main track on our main line between Chicago and Los Angeles. All but 51 miles (82 km) of this high-volume 2,200-mile (3,500 km) route were double track, as of the end of 2006. Last year, we ran 100 trains per day on this expanded main line, compared with 60 per day in 2000." Technically, it is not double tracked in mid-Kansas where two routes are used: Mulvane to Wichita to Newton to Emporia for primarily eastbound traffic; Emporia to El Dorado to Augusta to Mulvane for primarily westbound traffic. In 2008, BNSF completed nearly sixteen miles (26 km) of a third main track through Cajon Pass in Southern California, increasing capacity on the transcontinental main route between Chicago and Los Angeles from 100 to 150 trains per day. BNSF started adding a second main track in Abo Canyon (east of Belen, New Mexico) the largest bottleneck on the Transcon with grading in 2008–2009, bridges in 2010 and signal work in late 2010 or early 2011. Approximately 1.7 million cubic yards (1.3 million cubic metres) of rock need to be excavated, mostly by blasting. The 2008 BNSF Annual Report states: "Following completion of the Abo Canyon project scheduled in 2011, our 2,200 miles (3,500 km) Transcontinental Corridor between Southern California and Chicago will have only about 30 miles (48 km) of single track."

The Powder River Basin supplies forty percent of the coal in the United States. The 2008 BNSF Annual Report states that the quadruple track project was completed.

Operating divisions

The BNSF system is divided into 13 divisions grouped into three regions. Each division includes numerous subdivisions, normally comprising a single main line and branches. A fourteenth division, Colorado, has been consolidated with the Powder River Division, except for the Casper and Cody Subdivisions, which were transferred to the Montana Division.

Passenger train service

BNSF directly operates the BNSF Line for Metra in Chicago and the Sounder in the Puget Sound Region using BNSF-supplied crews in addition to running over its rails. Metra's fleet includes cars originally purchased by BNSF predecessor Chicago Burlington & Quincy with letterboards above the doors; some have the restored "BURLINGTON" lettering, while others read "BNSF Railway". Other Metra cars assigned to BNSF have the BNSF "swoosh" logo next to the door.

The company's network also hosts other commuter trains, including Metrolink in Southern California and, previously, the Northstar Line in Minneapolis. The line used by New Mexico Rail Runner Express was sold in 2005 to the state of New Mexico, but BNSF retained all freight rights on the line and operates freight trains as needed. Amtrak routes that use BNSF rails include the Amtrak Cascades, California Zephyr, Carl Sandburg, Coast Starlight, Empire Builder, Gold Runner, Heartland Flyer, Illinois Zephyr, Lincoln Service, Pacific Surfliner, Southwest Chief, Sunset Limited, and Texas Eagle.

After the 2015 Oxnard train derailment, BNSF loaned 40 of their AC4400CWs to Metrolink while their Rotem cab cars received upgrades. These 40 units were converted to PTC. The locomotives have since been returned after the cab cars went back into service.

Although it does not have a steam program like the Union Pacific, the BNSF has allowed for the Southern Pacific 4449, St. Louis–San Francisco 1522, Santa Fe 3751, Santa Fe 2926, Spokane, Portland and Seattle 700 and Milwaukee Road 261 steam locomotives to operate excursions over their rails.

Safety

BNSF has received E.H. Harriman Award for safety multiple times. But a number of accidents and incidents have occurred on the railway since its inception.

As one of the leading supporters of the Operation Lifesaver program to promote safety at railway crossings and rights-of-way, BNSF Railway established a grade-crossing closure program in 2000. This program, in which BNSF works with communities and landowners to identify unnecessary or redundant crossings, has helped close more than 2,900 of BNSF's railway crossings throughout the United States. BNSF has been the industry leader in lowering the number of grade-crossing collisions.

BNSF contracts with News Link, a small business in Lincoln, Nebraska, to publish employee newsletters focused on safety for some of the railroad's divisions and shops. These newsletters vary in length from four to 28 pages, published ranging from monthly to quarterly.

In 2014, the Occupational Safety and Health Administration ordered BNSF to pay over $526,000 to workers who had been terminated in 2010 and 2011 in contravention of provisions of the Federal Railroad Safety Act protecting whistleblowers after they revealed workplace injuries at the terminal in Havre, Montana.

In August 2016, a "huge number" of used hypodermic drug needles were found along a BNSF railroad bridge between the University Park and St. Johns neighborhoods of Portland, Oregon, that had become an encampment for the homeless. According to a conductor: "Pretty much see people down there at all hours of the night. We report them, but nobody does anything."

In March 2024, BNSF furloughed 360 mechanical workers, a small fraction of the railroad's 37,000 employees, but enough to elicit a condemning letter from the Transportation Trades Department labor coalition calling on the Federal Railroad Administrator to increase inspections. The unions maintain that these cuts will make it difficult for BNSF to finish needed repairs and inspections of its rolling stock. In a letter dated March 2024 sent to the FRA, the Shop Craft Unions at BNSF urged the Administration look at "safety and maintenance issues" in the railroad industry, presenting evidence of a 41% decrease in repair and maintenance departments since 2015. BNSF shippers complain that shipments to the northwestern U.S. have seen delays, most citing lack of enough crew as the reason. They also complained of high rates for secondary shuttle freight.

Safety culture assessment

In 2023, the FRA issued a safety culture report on BNSF. Regulators looked at ten areas of safety, including leadership, continuous learning, and how well safety is prioritized over other demands. The report said that BNSF is working toward a better safety culture but that it still needs to improve, particularly in communication and trust between management and employees.

One of the report's findings concerned the difference between what BNSF leadership says about safety and how employees experience it. Some employees felt that safety sometimes takes a back seat to getting the job done, especially with mid-level managers. The report said that safety issues are not always handled the same way across the company, and that some employees felt that safety concerns were not addressed fairly. It also noted positive steps, like BNSF's investment in safety training and efforts to promote ongoing learning.

The report gave several recommendations to help BNSF improve its safety culture, including better communication, building more trust between workers and management, and making sure safety is always the top priority. The FRA plans to monitor how BNSF responds to these recommendations.

Equipment

According to the 2007 BNSF Annual Report, at the end of 2007 the railway had more than 40,000 employees; 6,400 locomotives (8,359 as of 2018); and 85,338 freight cars (72,369 as of 2018).

Broken down by specific kind of car, the BNSF owned:

36,439 covered hoppers

13,690 gondolas

11,428 open hoppers

10,470 flatcars

7,948 boxcars

4,196 refrigerated "reefer" cars

427 tank cars

416 automobile carriers

81 private/business cars

324 "other" types of cars

In addition, the railroad also owned:

3,253 domestic containers

11,714 domestic chassis (Swap body) (?)

4,070 company service vehicles

1,200 trailers

163 commuter passenger cars

At the end of 2007, the average age (from date of manufacture) was 15 years for the BNSF's locomotive fleet and 14 years for the freight car fleet.

On January 24, 2006, BNSF announced a US$2.4 billion program of infrastructure upgrades for 2006. The upgrade program includes: double- and triple-tracking 40 miles (64 km) of track and a second mainline track through New Mexico's Abo Canyon on the former ATSF transcontinental line; expanding the Lincoln, Nebraska, classification yard and double- and triple-tracking 50 miles (80 km) of track in Wyoming's Powder River Basin region; expansions at eight of the railroad's larger intermodal facilities, and extending many sidings and expanding and improving refueling facilities. In making the announcement, BNSF chairman Matthew K. Rose cited improvements in the company's return on invested capital and expressed hope for continued improvement. In March 2008, the railroad was completing the triple-tracking of Cajon Pass in California, creating four tracks through the pass—three BNSF (former Santa Fe and newly installed) and one Union Pacific (former Southern Pacific).

From Wikipedia’s article on BNSF Railway, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Parent company

Owners

Subsidiaries

Also owns

  • Ancona Station
  • Ash Fork Station
  • BNSF Railway Line
  • Belmont Tunnel
  • Bingen – White Salmon
  • Burlington Northern Railroad Bridge 5.1
  • Centennial Station
  • Centralia station
  • Chicago Subdivision
  • Coal City Station
  • Creston
  • Fargo Railway Station
  • Fullerton Transportation Center
  • Great Northern Tunnel
  • Heartland Flyer
  • Hinckley Subdivision
  • Inland Empire–Orange County Line
  • Mazon Station
  • Northern Lights Express
  • Northstar Line
  • Orange County Line
  • Oregon Slough Railroad Bridge
  • Rugby station
  • San Joaquin Street station
All 31 also owns
  • Sandpoint station
  • St. Charles Air Line
  • St. Cloud
  • Streator
  • Tacoma station
  • Wayzata Subdivision
  • Wishram

From Wikidata.1

Acquisitions

  1. 1980Acquired Quanah, Acme and Pacific Railway1
  2. Succeeded Atchison, Topeka and Santa Fe Railway1
  3. Succeeded Burlington Northern Railroad1
  4. Succeeded Roscoe, Snyder and Pacific Railway1

Former names

  • BURLINGTON NORTHERN SANTA FE CORPDec 8, 1995 to Feb 11, 20105
  • BURLINGTON NORTHERN SANTE FE CORPSep 22, 1995 to Sep 22, 19955
  • BNSF CORPDec 23, 1994 to Sep 12, 19955

Timeline

  1. Dec 5, 20258-K Entered a material agreement; New debt or obligation; Other events40
  2. Jun 6, 20258-K Entered a material agreement; New debt or obligation; Other events41
  3. Jun 7, 20248-K Entered a material agreement; New debt or obligation; Other events42
  4. Oct 5, 20238-K Bylaws or fiscal year changed43
  5. Jun 9, 20238-K Entered a material agreement; New debt or obligation; Other events44
  6. Jun 7, 20228-K Entered a material agreement; New debt or obligation; Other events45
  7. Dec 8, 20218-K Entered a material agreement; New debt or obligation; Other events46
  8. Feb 6, 2006New chief executive Matthew K. Rose becomes CEO20
  9. Sep 22, 1995Founded Founded1

Filings

52 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 7 major events, 25 other. The latest 20:

  1. Aug 10, 202610-Q EDGAR
  2. Jun 1, 2026SD EDGAR
  3. May 4, 202610-Q EDGAR
  4. Mar 2, 202610-K EDGAR
  5. Dec 5, 20258-K EDGAR
  6. Dec 2, 2025424B2 EDGAR
  7. Dec 1, 2025FWP EDGAR
  8. Dec 1, 2025424B2 EDGAR
  9. Nov 3, 202510-Q EDGAR
  10. Aug 4, 202510-Q EDGAR
  11. Jun 6, 20258-K EDGAR
  12. Jun 4, 2025424B2 EDGAR
  13. Jun 2, 2025SD EDGAR
  14. Jun 2, 2025FWP EDGAR
  15. Jun 2, 2025424B2 EDGAR
  16. May 5, 2025S-3ASR EDGAR
  17. May 5, 202510-Q EDGAR
  18. Feb 24, 202510-K EDGAR
  19. Nov 4, 202410-Q EDGAR
  20. Aug 5, 202410-Q EDGAR

The 52 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How BNSF Railway is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBURLINGTON NORTHERN SANTA FE, LLC2
  • CIK0000934612
  • Employer ID (EIN)27-175483919
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsDecember 312
  • Industry code (SIC)4011 Railroads, Line-Haul Operating2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address2650 Lou Menk Dr, Ft Worth, TX 76131-28302
  • Mailing address2650 Lou Menk Drive, Fort Worth, TX 76131-28302
  • Phone80079526732
  • Shares outstanding0 as of Aug 10, 202615
  • Public float$0 as of Dec 31, 20258
  • AuditorDELOITTE & TOUCHE LLP, Fort Worth, Texas PCAOB ID 34; no auditor attestation of internal control over financial reporting19
  • On EDGAR sinceDec 23, 19942
  • Filings1,241 in all: 4 (531), 8-K (139), 10-Q (93), 425 (61), 424B5 (49), FWP (32), 424B2 (31), S-8 (30)2
    All 45 form types

    S-8 POS (30), 10-K (29), 11-K (28), SC 13G/A (27), 4/A (21), SC 13G (15), DEF 14A (14), NO ACT (11), SD (10), 10-K/A (9), S-3 (9), 424B3 (8), ARS (8), S-3ASR (8), 3 (7), SC 13D/A (5), S-3/A (4), S-4/A (3), UPLOAD (3), 10-K405 (2), 25-NSE (2), 8-K/A (2), CORRESP (2), NT 11-K (2), POS EX (2), PRE 14A (2), SC 13D (2), 15-12B (1), 5 (1), 8-A12B (1), 8-A12G (1), 8-B12B (1), DEFA14A (1), DEFM14A (1), IRANNOTICE (1), REGDEX (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Mar 16, 2009
    Latest 8-K (8-K) Dec 5, 2025

Risk factors and legal proceedings

The risks BNSF Railway names in Item 1A of its 10-K filed Mar 2, 2026: 23 risks under these headings, as written.19

  • Legal and Regulatory Risks.
  • The Company’s success depends on its ability to continue to comply with the significant federal, state, and local governmental regulations to which it is subject.
  • Changes in government policy could negatively impact demand for the Company’s services, impair its ability to price its services, or increase its costs or liability exposure.
  • The Company is subject to stringent environmental laws and regulations, which may impose significant costs on its business operations.
  • Climate change, market or regulatory responses to climate change, and other emissions-related laws and regulations could adversely affect the Company’s operations and financial results.
  • The Company is subject to various claims and lawsuits, and increases in the amount or severity of these claims and lawsuits could adversely affect the Company’s operating results, financial condition, or liquidity.
  • Operational Risks.
  • Fuel supply availability, fuel prices and dependency on certain key railroad equipment, material and service providers may adversely affect the Company’s results of operations, financial condition, or liquidity.
  • As part of its railroad operations, the Company frequently transports chemicals and other hazardous materials, which could expose it to the risk of significant claims, losses, and penalties and operating restrictions.
  • Severe weather and natural disasters could disrupt normal business operations, the potential effects of which could result in increased costs and liabilities and decreases in revenues.
  • The Company depends on the stability and availability of its technology systems.
  • The Company’s operational dependencies may adversely affect results of operations, financial condition, or liquidity.
The other 11 risks
  • Significant unexpected increases in demand for the Company’s services may adversely affect service levels and operational efficiency.
  • Industry and Economic Risks.
  • Downturns in the economy could adversely affect demand for the Company’s services.
  • The Company faces intense competition from rail carriers and other transportation providers, and its failure to compete effectively could adversely affect its results of operations, financial condition or liquidity.
  • Negative changes in general economic conditions could lead to disruptions in the credit markets, increase credit risks and could adversely affect the Company’s financial condition or liquidity.
  • Human Capital Risks.
  • Most of the Company’s employees are represented by unions, and failure to resolve disputes or negotiate reasonable collective bargaining agreements may result in strikes, work stoppages, or substantially higher ongoing labor costs.
  • The unavailability of qualified personnel could adversely affect the Company’s operations.
  • General Risk Factors.
  • Acts of terrorism or war, as well as the threat of terrorism or war, may cause significant disruptions in the Company’s business operations.
  • The Company faces risks related to epidemics, pandemics, and other similar outbreaks, which may adversely affect its business, results of operations, and financial condition.

Legal proceedings

Beginning May 14, 2007, some 30 similar class action complaints were filed in six federal district courts around the country by rail shippers against BNSF Railway and other Class I railroads alleging that they have conspired to fix fuel surcharges with respect to unregulated freight transportation services in violation of the antitrust laws. The complaints seek injunctive relief and unspecified treble damages. These cases were consolidated and are currently pending in the federal District Court for the District of Columbia for coordinated or consolidated pretrial proceedings. (In re: Rail Freight Fuel Surcharge Antitrust Litigation, MDL No. 1869). Consolidated amended class action complaints were filed against BNSF Railway and three other Class I railroads in April 2008. On June 21, 2012, the District Court certified the class sought by the plaintiffs. BNSF Railway and the other three Class I railroads appealed the class certification decision to the U.S. Court of Appeals. On August 9, 2013, the U.S. Court of Appeals vacated the District Court’s class certification decision and remanded the case to permit the District Court to reconsider its decision in light of the U.S. Supreme Court case of Comcast Corp. v. Behrend. In September 2016, the District Court held a hearing to determine whether to certify a class. On October 10, 2017, the District Court denied the plaintiffs’ motion to certify a class. The plaintiffs appealed the denial of class certification to the U.S. Court of Appeals. In September 2018, the U.S. Court of Appeals held a hearing on the appeal of the denial of class certification. On August 16, 2019, the U.S. Court of Appeals affirmed the District Court’s denial of class certification. In June 2025, the District Court granted summary judgment in favor of the railroads, dismissing all claims. Plaintiffs have filed an appeal to the U.S. Court of Appeals.

The opening of Item 3, Legal Proceedings.19

Sources

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