Burlington Northern Santa Fe (BNI) 8-K Burlington Northern Santa Fe Reports

Exhibit 99.1

Investor Contact:	Marsha Morgan	FOR IMMEDIATE RELEASE
	(817) 352-6452
Media Contact:	Richard Russack
	(817) 867-6425

Burlington Northern Santa Fe Reports

Record All-Time Quarterly and Annual Revenue and EPS

• Quarterly earnings of $1.13 per diluted share were 24 percent higher than fourth-quarter 2004 earnings of $0.91 per diluted share.

• Fourth-quarter 2005 earnings per share includes a $0.12 per share loss related to an agreement to sell certain line segments to the state of New Mexico.

• Quarterly freight revenues increased 18 percent compared with the same 2004 period to $3.45 billion.

• Quarterly operating income of $800 million increased $132 million, or 20 percent, compared with the same 2004 period.

• Annual earnings were a record $4.01 per share.

• Full year free cash flow after dividends was $669 million, which was $143 million greater than in 2004.

FORT WORTH, Texas, January 24, 2006 - Burlington Northern Santa Fe Corporation (BNSF) (NYSE: BNI) today reported record quarterly earnings of $1.13 per diluted share, a 24-percent increase over fourth-quarter 2004 earnings of $0.91 per diluted share.

“Since mid-2003, BNSF has been handling unprecedented volumes in response to strong customer demand for rail service. As a result, in 2005, BNSF for the first time moved more than 10 million units, achieved nearly $13 billion in revenues, exceeded $4 in earnings per share and attained $669 million in free cash flow after dividends,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer.

- more -

Fourth-quarter 2005 freight revenues increased $527 million, or 18 percent, to a quarterly record of $3.45 billion compared with 2004 fourth-quarter freight revenues of $2.92 billion. This resulted from a 3-percent increase in units, a 6-percent increase in price and a 9-percent increase in fuel surcharges. Revenue for the fourth quarter of 2005 included fuel surcharges of $424 million compared with $150 million in the fourth quarter of 2004.

During the fourth quarter, BNSF experienced double-digit revenue increases in three of the Company’s four business groups, as compared with the fourth quarter of 2004. Consumer Products revenues increased $273 million, or 23 percent, to $1,454 million, primarily due to strong revenue increases in the intermodal sectors as well as a favorable $21 million arbitration settlement. Industrial Products revenues increased $132 million, or 21 percent, to $763 million primarily due to double-digit revenue growth in the building products, construction products and petroleum products sectors. Agricultural Products revenues were up $100 million, or 20 percent, to $592 million, due largely to strong exports through the Gulf and Pacific Northwest ports. Coal revenues rose by $22 million, or 4 percent, to $637 million on flat volumes.

As previously announced, the Company recorded a $71 million pre-tax loss in the fourth quarter of 2005 related to an agreement to sell certain line segments to the state of New Mexico. Proceeds from the sale of $76 million are expected to be received over the next 3 years, and the Company expects to recognize a gain of approximately $0.04 per share in the first quarter of 2006. Including the loss from the line sale, operating expenses for the fourth quarter of 2005 were $2.75 billion compared with fourth-quarter 2004 operating expenses of $2.31 billion. The $440 million increase in operating expenses primarily relates to higher fuel expenses of $210 million, a 3-percent increase in units, as well as the line sale loss. Additionally, BNSF’s quarterly operating ratio improved to 76.8 percent.

For 2005, BNSF achieved operating revenues of nearly $13 billion, a 19-percent increase over 2004. This includes double-digit increases in three of the four business groups. In addition, BNSF continued to improve its operating leverage, which enabled the Company to reach $2.92 billion in operating income and improve its operating ratio. Further, BNSF achieved $4.01 earnings per share for 2005 compared with $2.10 for 2004.

BNSF’s subsidiary, BNSF Railway Company, operates one of the largest railroad networks in North America, with about 32,000 route miles in 28 states and two Canadian provinces. The railway is among the world’s top transporters of intermodal traffic, moves more grain than any other American railroad, transports the components of many of the products we depend on daily, and hauls enough low-sulphur coal to generate about ten percent of the electricity produced in the United States. BNSF is an industry leader in Web-enabling a variety of customer transactions at www.bnsf.com.

2

BNSF’s free cash flow after dividends, as discussed above, is a non-GAAP measure and should be considered in addition to, but not as a substitute or preferable to, other information prepared in accordance with GAAP. However, the information is included herein as management believes that free cash flow after dividends excluding the change in BNSF’s accounts receivable sales program (A/R sales program) provides meaningful information about BNSF’s ability to generate cash flows from the operation of its business. Below is the calculation of free cash flow after dividends for the full years 2005 and 2004.

Free Cash Flow after Dividends Calculation (in millions)	2005			2004
Net cash provided by operating activities	$	2,609		$	2,377
Less the change in the A/R sales program		350			(25	)
Net cash used for investing activities		(2,023	)		(1,595	)
Free Cash Flow before Dividends		936			757
Dividends paid		(267	)		(231	)
Free Cash Flow after Dividends	$	669		$	526

Financial information follows.

3

Burlington Northern Santa Fe Corporation

Consolidated Income Information

(Dollars in millions, except per share data)

	Three Months Ended December 31,						Year Ended December 31,
	2005			2004			2005			2004			2003
Operating revenues
Freight revenues	$	3,446		$	2,919		$	12,606		$	10,742		$	9,285
Other revenues		104			59			381			204			128
Total operating revenues		3,550			2,978			12,987			10,946			9,413
Operating expenses
Compensation and benefits		913			864			3,515			3,322			2,963
Fuel		607			397			1,959			1,335			1,093
Purchased services		441			376			1,714			1,424			1,252
Depreciation and amortization		273			258			1,075			1,012			910
Equipment rents		232			196			886			790			705
Materials and other (a)		284			219			916			1,377			825
Total operating expenses		2,750			2,310			10,065			9,260			7,748
Operating income		800			668			2,922			1,686			1,665
Interest expense		110			104			437			409			420
Other expense, net		6			7			37			4			14
Income before income taxes and cumulative effect of accounting change		684			557			2,448			1,273			1,231
Income tax expense		254			210			917			482			454
Income before cumulative effect of accounting change		430			347			1,531			791			777
Cumulative effect of accounting change, net of tax (b)		—			—			—			—			39
Net income	$	430		$	347		$	1,531		$	791		$	816
Diluted earnings per share before cumulative effect of accounting change	$	1.13		$	0.91		$	4.01		$	2.10		$	2.09
Diluted earnings per share after cumulative effect of accounting change	$	1.13		$	0.91		$	4.01		$	2.10		$	2.19
Diluted average shares outstanding (in millions)		380.7			382.5			381.8			376.6			372.3
Operating ratio (c)		76.8	%		77.1	%		76.8	%		84.3	%		82.1	%

(a) 2005 includes a fourth-quarter loss of $71 million related to an agreement to sell certain line segments to the state of New Mexico. 2004 includes the impact of a third-quarter charge for a change in estimate of asbestos and environmental liabilities of $465 million.

(b) Reflects the adoption of Statement of Financial Accounting Standards (SFAS) No. 143,Accounting for Asset Retirement Obligations. This standard changed the way the rail industry accounts for asset retirement costs.

(c) Calculated as total operating expenses less other revenues divided by freight revenues.

4

Burlington Northern Santa Fe Corporation

Consolidated Income Information 2005

(Dollars in millions, except per share data)

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter			2005 Full Year
Operating revenues
Freight revenues	$	2,899		$	3,043		$	3,218		$	3,446		$	12,606
Other revenues		83			95			99			104			381
Total operating revenues		2,982			3,138			3,317			3,550			12,987
Operating expenses
Compensation and benefits		853			849			900			913			3,515
Fuel		392			461			499			607			1,959
Purchased services		417			424			432			441			1,714
Depreciation and amortization		263			268			271			273			1,075
Equipment rents		213			218			223			232			886
Materials and other (a)		210			208			214			284			916
Total operating expenses		2,348			2,428			2,539			2,750			10,065
Operating income		634			710			778			800			2,922
Interest expense		109			112			106			110			437
Other expense, net		7			8			16			6			37
Income before income taxes		518			590			656			684			2,448
Income tax expense		197			224			242			254			917
Net income	$	321		$	366		$	414		$	430		$	1,531
Diluted earnings per share	$	0.83		$	0.96		$	1.09		$	1.13		$	4.01
Diluted average shares outstanding (in millions)		384.6			381.7			380.4			380.7			381.8
Operating ratio (b)		78.1	%		76.7	%		75.8	%		76.8	%		76.8	%

(a) Includes a fourth-quarter loss of $71 million related to an agreement to sell certain line segments to the state of New Mexico.

(b) Calculated as total operating expenses less other revenues divided by freight revenues.

5

Burlington Northern Santa Fe Corporation

Consolidated Income Information 2004*

(Dollars in millions, except per share data)

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter			2004 Full Year
Operating revenues
Freight revenues	$	2,448		$	2,637		$	2,738		$	2,919		$	10,742
Other revenues		42			48			55			59			204
Total operating revenues		2,490			2,685			2,793			2,978			10,946
Operating expenses
Compensation and benefits		787			818			853			864			3,322
Fuel		280			326			332			397			1,335
Purchased services		340			351			357			376			1,424
Depreciation and amortization		249			251			254			258			1,012
Equipment rents		187			197			210			196			790
Materials and other (a)		237			234			687			219			1,377
Total operating expenses		2,080			2,177			2,693			2,310			9,260
Operating income		410			508			100			668			1,686
Interest expense		102			101			102			104			409
Other (income) expense, net		(3	)		5			(5	)		7			4
Income before income taxes		311			402			3			557			1,273
Income tax expense		118			153			1			210			482
Net income	$	193		$	249		$	2		$	347		$	791
Diluted earnings per share	$	0.52		$	0.67		$	0.01		$	0.91		$	2.10
Diluted average shares outstanding (in millions)		374.0			373.5			376.5			382.5			376.6
Operating ratio (b)		83.3	%		80.7	%		96.3	%		77.1	%		84.3	%

(a) Includes the impact of a third quarter 2004 charge for a change in estimate of asbestos and environmental liabilities of $465 million.

(b) Calculated as total operating expenses less other revenues divided by freight revenues.

* Certain interim prior period amounts have been reclassified to conform with the current period presentation.

6

Burlington Northern Santa Fe Corporation

Consolidated Balance Sheet Information*

(Dollars in millions, except per share amounts)

	December 31,
	2005			2004
Assets
Current assets:
Cash and cash equivalents	$	75		$	322
Accounts receivable, net (a)		678			181
Materials and supplies		396			339
Current portion of deferred income taxes		218			308
Current portion of fuel-hedging asset		303			264
Other current assets		210			201
Total current assets		1,880			1,615
Property and equipment, net		26,551			25,814
Other assets		1,873			1,496
Total assets	$	30,304		$	28,925
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities	$	2,773		$	2,251
Long-term debt due within one year		456			465
Total current liabilities		3,229			2,716
Long-term debt and commercial paper (a)		6,698			6,051
Deferred income taxes		7,916			7,820
Casualty and environmental liabilities		878			941
Minimum pension liability		417			353
Employee separation costs		107			124
Other liabilities		1,551			1,609
Total liabilities		20,796			19,614
Stockholders’ equity:
Common stock and additional paid-in capital		6,707			6,304
Retained earnings		8,045			6,792
Treasury stock and other		(5,244	)		(3,785	)
Total stockholders’ equity		9,508			9,311
Total liabilities and stockholders’ equity	$	30,304		$	28,925
Book value per share	$	25.59		$	24.71
Common shares outstanding (in millions)		371.6			376.8
Net debt to total capitalization (b)		42.7	%		39.9	%

(a) Change in accounts receivable, net impacted by a $350 million reduction in accounts receivable sold, which is offset by an increase in commercial paper.

(b) Net debt is calculated as total debt less cash and cash equivalents, and capitalization is calculated as the sum of net debt and total stockholders’ equity.

* Certain prior period amounts have been reclassified to conform with the current period presentation.

7

Burlington Northern Santa Fe Corporation

Consolidated Cash Flow Information

(Dollars in millions)

	Three Months Ended December 31,						Year Ended December 31,
	2005			2004			2005			2004			2003
Operating activities
Net income	$	430		$	347		$	1,531		$	791		$	816
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		273			258			1,075			1,012			910
Deferred income taxes		8			87			217			237			460
Employee separation costs paid		(3	)		(4	)		(30	)		(33	)		(43	)
Cumulative effect of accounting change		—			—			—			—			(39	)
Long-term casualty and environmental liabilities, net		(31	)		(8	)		(71	)		477			20
Other, net		(9	)		(21	)		(54	)		(84	)		28
Changes in working capital		(155	)		35			(59	)		(23	)		133
Net cash provided by operating activities		513			694			2,609			2,377			2,285
Investing activities
Capital expenditures		(505	)		(363	)		(1,750	)		(1,527	)		(1,726	)
Other, net		(89	)		135			(273	)		(68	)		(80	)
Net cash used for investing activities		(594	)		(228	)		(2,023	)		(1,595	)		(1,806	)
Financing activities
Dividends paid		(75	)		(63	)		(267	)		(231	)		(191	)
Purchase of BNSF common stock		(224	)		(118	)		(799	)		(376	)		(217	)
Other, net		181			(21	)		233			129			(81	)
Net cash used for financing activities		(118	)		(202	)		(833	)		(478	)		(489	)
Increase (decrease) in cash and cash equivalents		(199	)		264			(247	)		304			(10	)
Cash and cash equivalents:
Beginning of period		274			58			322			18			28
End of period	$	75		$	322		$	75		$	322		$	18

8

Burlington Northern Santa Fe Corporation

Consolidated Cash Flow Information*

(Dollars in millions)

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter			2005 Full Year
Operating activities
Net income	$	321		$	366		$	414		$	430		$	1,531
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		263			268			271			273			1,075
Deferred income taxes		72			69			68			8			217
Employee separation costs paid		(8	)		(7	)		(12	)		(3	)		(30	)
Long-term casualty and environmental liabilities, net		(34	)		1			(7	)		(31	)		(71	)
Other, net		(17	)		(1	)		(27	)		(9	)		(54	)
Changes in working capital		(29	)		15			110			(155	)		(59	)
Net cash provided by operating activities		568			711			817			513			2,609
Investing activities
Capital expenditures		(326	)		(472	)		(447	)		(505	)		(1,750	)
Other, net		(217	)		(287	)		320			(89	)		(273	)
Net cash used for investing activities		(543	)		(759	)		(127	)		(594	)		(2,023	)
Financing activities
Dividends paid		(64	)		(64	)		(64	)		(75	)		(267	)
Purchase of BNSF common stock		(225	)		(217	)		(133	)		(224	)		(799	)
Other, net		57			293			(298	)		181			233
Net cash (used for) provided by financing activities		(232	)		12			(495	)		(118	)		(833	)
Increase (decrease) in cash and cash equivalents		(207	)		(36	)		195			(199	)		(247	)
Cash and cash equivalents:
Beginning of period		322			115			79			274			322
End of period	$	115		$	79		$	274		$	75		$	75

* Certain interim prior period amounts have been reclassified to conform with the current period presentation.

9

Burlington Northern Santa Fe Corporation

Operating Statistics*

	Three Months Ended December 31,				Year Ended December 31,
	2005		2004		2005		2004		2003
Cars/units (in thousands)		2,581		2,501		10,024		9,536		8,646
Average revenues per car/unit	$	1,335	$	1,167	$	1,258	$	1,126	$	1,074
Revenue ton miles (in millions)		152,234		149,544		596,575		570,688		508,200
Gross ton miles (in millions)		270,970		264,844		1,061,108		1,011,806		911,525
RTM/GTM		0.56		0.56		0.56		0.56		0.56
Freight revenue/thousand RTM	$	22.64	$	19.52	$	21.13	$	18.82	$	18.27
Operating expense/thousand RTM (a)	$	18.06	$	15.45	$	16.87	$	16.23	$	15.25
Freight revenue/thousand GTM	$	12.72	$	11.02	$	11.88	$	10.62	$	10.19
Operating expense/thousand GTM (a)	$	10.15	$	8.72	$	9.49	$	9.15	$	8.50
Compensation and benefits/thousand GTM	$	3.37	$	3.26	$	3.31	$	3.28	$	3.25
Average employees		40,218		38,141		39,524		37,617		36,644
Period end employees		40,573		38,189		40,573		38,189		36,565
Thousand RTM/average employee		3,785		3,921		15,094		15,171		13,869
Thousand GTM/average employee		6,738		6,944		26,847		26,898		24,875
Gallons of fuel used (in millions)		359		348		1,402		1,344		1,213
Average price per gallon of fuel (cents) (b)		169.1		114.1		139.7		99.3		90.1
GTM/gallon of fuel		755		761		757		753		751
Freight train miles (in millions)		43		39		167		165		153
GTM/freight train hours (in thousands)		117		129		121		129		134
Route Miles Operated		32,154		32,185		32,154		32,185		32,266

(a) Includes impact of third quarter 2004 charge for a change in estimate of asbestos and environmental liabilities of $465 million.

(b) Includes handling, taxes and hedge effect.

* Certain prior period amounts have been reclassified to conform with the current period presentation.

10

Burlington Northern Santa Fe Corporation

Operating Statistics

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		2005 Full Year
Cars/units (in thousands)		2,408		2,465		2,570		2,581		10,024
Average revenues per car/unit	$	1,204	$	1,234	$	1,252	$	1,335	$	1,258
Revenue ton miles (in millions)		145,821		147,101		151,419		152,234		596,575
Gross ton miles (in millions)		258,729		261,813		269,596		270,970		1,061,108
RTM/GTM		0.56		0.56		0.56		0.56		0.56
Freight revenue/thousand RTM	$	19.88	$	20.69	$	21.25	$	22.64	$	21.13
Operating expense/thousand RTM	$	16.10	$	16.51	$	16.77	$	18.06	$	16.87
Freight revenue/thousand GTM	$	11.20	$	11.62	$	11.94	$	12.72	$	11.88
Operating expense/thousand GTM	$	9.08	$	9.27	$	9.42	$	10.15	$	9.49
Compensation and benefits/thousand GTM	$	3.30	$	3.24	$	3.34	$	3.37	$	3.31
Average employees		38,322		39,632		39,923		40,218		39,524
Period end employees		39,014		40,023		40,244		40,573		40,573
Thousand RTM/average employee		3,805		3,712		3,793		3,785		15,094
Thousand GTM/average employee		6,751		6,606		6,753		6,738		26,847
Gallons of fuel used (in millions)		346		348		349		359		1,402
Average price per gallon of fuel (cents) (a)		113.3		132.5		143.0		169.1		139.7
GTM/gallon of fuel		748		752		772		755		757
Freight train miles (in millions)		41		41		42		43		167
GTM/freight train miles (in thousands)		126		121		120		117		121
Route Miles Operated		32,281		32,248		32,181		32,154		32,154

(a) Includes handling, taxes and hedge effect.

11

Burlington Northern Santa Fe Corporation

Revenue Statistics by Commodity

	Three Months Ended December 31,				Percent Change		Year Ended December 31,						04-05 Percent Change
Revenues (in millions)	2005		2004				2005		2004		2003
Intermodal	$	1,237	$	1,008	22.7	%	$	4,367	$	3,608	$	3,058	21.0	%
Automotive		111		85	30.6			404		312		304	29.5
Other Consumer Products		106		88	20.5			385		325		295	18.5
Total Consumer Products		1,454		1,181	23.1			5,156		4,245		3,657	21.5
Industrial Products		763		631	20.9			2,871		2,448		2,138	17.3
Coal		637		615	3.6			2,448		2,277		2,025	7.5
Agricultural Products		592		492	20.3			2,131		1,772		1,465	20.3
Total freight revenue		3,446		2,919	18.1			12,606		10,742		9,285	17.4
Other revenue		104		59	76.3			381		204		128	86.8
Total revenues	$	3,550	$	2,978	19.2	%	$	12,987	$	10,946	$	9,413	18.6	%
Cars/units(in thousands)
Intermodal		1,291		1,207	7.0	%		4,931		4,517		4,012	9.2	%
Automotive		46		41	12.2			177		158		157	12.0
Other Consumer Products		50		48	4.2			198		184		167	7.6
Total Consumer Products		1,387		1,296	7.0			5,306		4,859		4,336	9.2
Industrial Products		382		397	(3.8	)		1,564		1,561		1,428	0.2
Coal		578		575	0.5			2,238		2,216		2,048	1.0
Agricultural Products		234		233	0.4			916		900		834	1.8
Total cars/units		2,581		2,501	3.2	%		10,024		9,536		8,646	5.1	%
Average revenue per car/unit
Intermodal	$	958	$	835	14.7	%	$	886	$	799	$	762	10.9	%
Automotive		2,413		2,073	16.4			2,282		1,975		1,936	15.5
Other Consumer Products		2,120		1,833	15.7			1,944		1,766		1,766	10.1
Total Consumer Products		1,048		911	15.0			972		874		843	11.2
Industrial Products		1,997		1,589	25.7			1,836		1,568		1,497	17.1
Coal		1,102		1,070	3.0			1,094		1,028		989	6.4
Agricultural Products		2,530		2,112	19.8			2,326		1,969		1,757	18.1
Average revenue per car/unit	$	1,335	$	1,167	14.4	%	$	1,258	$	1,126	$	1,074	11.7	%
Revenue ton miles(in millions)
Intermodal		30,700		29,335	4.7	%		120,419		111,598		98,978	7.9	%
Automotive		1,529		1,293	18.3			5,794		4,718		4,601	22.8
Other Consumer Products		3,602		3,356	7.3			13,972		13,017		12,545	7.3
Total Consumer Products		35,831		33,984	5.4			140,185		129,333		116,124	8.4
Industrial Products		26,553		25,833	2.8			106,737		103,749		97,392	2.9
Coal		62,166		62,588	(0.7	)		242,407		236,529		205,997	2.5
Agricultural Products		27,684		27,139	2.0			107,246		101,077		88,687	6.1
Total revenue ton miles		152,234		149,544	1.8	%		596,575		570,688		508,200	4.5	%
Freight revenue per thousand ton miles
Intermodal	$	40.29	$	34.36	17.3	%	$	36.27	$	32.33	$	30.90	12.2	%
Automotive		72.60		65.74	10.4			69.73		66.13		66.07	5.4
Other Consumer Products		29.43		26.22	12.2			27.55		24.97		23.52	10.3
Total Consumer Products		40.58		34.75	16.8			36.78		32.82		31.49	12.1
Industrial Products		28.73		24.43	17.6			26.90		23.60		21.95	14.0
Coal		10.25		9.83	4.3			10.10		9.63		9.83	4.9
Agricultural Products		21.38		18.13	17.9			19.87		17.53		16.52	13.3
Freight revenue per thousand ton miles	$	22.64	$	19.52	16.0	%	$	21.13	$	18.82	$	18.27	12.3	%

12

Burlington Northern Santa Fe Corporation

Revenue Statistics by Commodity

Revenues (in millions)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		2005 Full Year
Intermodal	$	956	$	1,041	$	1,133	$	1,237	$	4,367
Automotive		92		104		97		111		404
Other Consumer Products		82		96		101		106		385
Total Consumer Products		1,130		1,241		1,331		1,454		5,156
Industrial Products		647		718		743		763		2,871
Coal		598		591		622		637		2,448
Agricultural Products		524		493		522		592		2,131
Total freight revenue		2,899		3,043		3,218		3,446		12,606
Other revenue		83		95		99		104		381
Total revenues	$	2,982	$	3,138	$	3,317	$	3,550	$	12,987
Cars/units(in thousands)
Intermodal		1,146		1,213		1,281		1,291		4,931
Automotive		43		47		41		46		177
Other Consumer Products		46		50		52		50		198
Total Consumer Products		1,235		1,310		1,374		1,387		5,306
Industrial Products		386		397		399		382		1,564
Coal		554		536		570		578		2,238
Agricultural Products		233		222		227		234		916
Total cars/units		2,408		2,465		2,570		2,581		10,024
Average revenue per car/unit
Intermodal	$	834	$	858	$	884	$	958	$	886
Automotive		2,140		2,213		2,366		2,413		2,282
Other Consumer Products		1,783		1,920		1,942		2,120		1,944
Total Consumer Products		915		947		969		1,048		972
Industrial Products		1,676		1,809		1,862		1,997		1,836
Coal		1,079		1,103		1,091		1,102		1,094
Agricultural Products		2,249		2,221		2,300		2,530		2,326
Average revenue per car/unit	$	1,204	$	1,234	$	1,252	$	1,335	$	1,258
Revenue ton miles(in millions)
Intermodal		28,935		30,315		30,469		30,700		120,419
Automotive		1,394		1,507		1,364		1,529		5,794
Other Consumer Products		3,144		3,553		3,673		3,602		13,972
Total Consumer Products		33,473		35,375		35,506		35,831		140,185
Industrial Products		25,677		27,185		27,322		26,553		106,737
Coal		58,961		58,918		62,362		62,166		242,407
Agricultural Products		27,710		25,623		26,229		27,684		107,246
Total revenue ton miles		145,821		147,101		151,419		152,234		596,575
Freight revenue per thousand ton miles
Intermodal	$	33.04	$	34.34	$	37.19	$	40.29	$	36.27
Automotive		66.00		69.01		71.11		72.60		69.73
Other Consumer Products		26.08		27.02		27.50		29.43		27.55
Total Consumer Products		33.76		35.08		37.49		40.58		36.78
Industrial Products		25.20		26.41		27.19		28.73		26.90
Coal		10.14		10.03		9.97		10.25		10.10
Agricultural Products		18.91		19.24		19.90		21.38		19.87
Freight revenue per thousand ton miles	$	19.88	$	20.69	$	21.25	$	22.64	$	21.13

13

Burlington Northern Santa Fe Corporation

Capital Expenditures and Track Maintenance

	Three Months Ended December 31,				Year Ended December 31,
	2005		2004		2005		2004		2003
Capital expenditures(in millions)
Maintenance of way
Rail	$	62	$	44	$	232	$	219	$	202
Ties		60		46		284		257		227
Surfacing		47		36		183		159		160
Other		95		94		354		359		337
Total maintenance of way		264		220		1,053		994		926
Mechanical		42		38		136		114		133
Information services		14		10		64		73		63
Other		39		45		108		107		116
Total maintenance of business		359		313		1,361		1,288		1,238
New locomotive acquisitions		—		—		—		16		270
Terminal and line expansion		146		50		389		223		218
Total capital expenditures	$	505	$	363	$	1,750	$	1,527	$	1,726
Track maintenance
Track miles of rail laid
Maintenance of business		120		94		517		589		613
Expansion projects		33		5		162		73		98
Total		153		99		679		662		711
Cross ties inserted (thousands)
Maintenance of business		560		419		2,782		2,514		2,134
Expansion projects		86		11		389		181		219
Total		646		430		3,171		2,695		2,353
Track resurfaced (miles)		2,541		2,414		12,790		11,450		12,399

14

Burlington Northern Santa Fe Corporation

Capital Expenditures and Track Maintenance*

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		2005 Full Year
Capital expenditures(in millions)
Maintenance of way
Rail	$	37	$	69	$	64	$	62	$	232
Ties		62		90		72		60		284
Surfacing		28		55		53		47		183
Other		76		93		90		95		354
Total maintenance of way		203		307		279		264		1,053
Mechanical		29		33		32		42		136
Information services		18		16		16		14		64
Other		19		22		28		39		108
Total maintenance of business		269		378		355		359		1,361
New locomotive acquisitions		—		—		—		—		—
Terminal and line expansion		57		94		92		146		389
Total capital expenditures	$	326	$	472	$	447	$	505	$	1,750
Track maintenance
Track miles of rail laid
Maintenance of business		65		183		149		120		517
Expansion projects		21		57		51		33		162
Total		86		240		200		153		679
Cross ties inserted (thousands)
Maintenance of business		485		939		798		560		2,782
Expansion projects		56		134		113		86		389
Total		541		1,073		911		646		3,171
Track resurfaced (miles)		2,107		3,877		4,265		2,541		12,790

* Certain interim period amounts have been reclassified to conform with the current period presentation.

15

Burlington Northern Santa Fe Corporation

Outstanding Debt

(Dollars in millions)

	December 31,
	2005			2004
Notes and debentures, weighted average rate of 6.7 percent, due 2006 to 2097*	$	5,077		$	4,909
Equipment obligations, weighted average rate of 6.8 percent, due 2006 to 2016		413			476
Capitalized lease obligations, weighted average rate of 7.3 percent, due 2006 to 2023		604			632
Mortgage bonds, weighted average rate of 8.3 percent, due 2006 to 2047		384			388
Financing obligations, weighted average rate of 6.3 percent, due 2012 to 2028		153			153
Commercial paper, 4.3 percent, variable		563			—
Unamortized discount and other, net		(40	)		(42	)
Total outstanding debt		7,154			6,516
Less: current portion of long-term debt		(456	)		(465	)
Long-term debt	$	6,698		$	6,051

* Notes and debentures include increases (decreases) related to fair value adjustments for hedges of ($1) million and $31 million at December 31, 2005 and 2004, respectively.

16