SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act
Date of Report (Date of earliest event reported): February 13, 1996
Burlington Northern Santa Fe Corporation
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
1-11535 41-1804964
(Commission File Number) (I.R.S. Employer
Identification No.)
3800 Continental Plaza, 777 Main Street, Fort Worth, Texas 76102-5384
(Address of Principal Executive Offices) (Zip Code)
(817) 333-2000
(Registrant's Telephone Number, Including Area Code)
(Not Applicable)
(Former Name or Former Address, If Changed Since Last Report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On February 6, 1996, in Crow Agency, Montana, a Crow Tribal Court jury
returned a verdict against Burlington Northern Railroad Company ("BN"),
a subsidiary of Burlington Northern Santa Fe Corporation (the "Company"),
for $250 million in compensatory damages in a civil case arising out of a
1993 grade crossing accident on the Crow Indian Reservation. The verdict
was in favor of two of the three plaintiffs that have filed an action
arising from this accident. The third plaintiff's case is still pending.
BN intends to appeal the verdict and believes it has strong legal arguments
in its favor. Given the strength of its legal agruments, available insurance
and existing reserves, the Company does not expect that the ultimate outcome
of this matter will have a material effect on its results of operations or
financial condition.
On February 1, 1996, a freight train operated by The Atchison, Topeka and
Santa Fe Railway Company, a subsidiary of the Company, derailed in Cajon
Pass, California. Forty-five cars and four locomotives were derailed. Two
of the three crew members died and a third was injured. Four of the derailed
cars carried hazardous chemicals, and a fire ignited as a result of the
derailment. The fire caused U.S. Interstate 15 to be closed temporarily. It
also caused the temporary evacuation of local residents and business owners
in the surrounding area. The Company does not believe that any liability
arising out of the derailment will have a material effect on its results of
operations or financial condition.
Attached as Exhibit 12.1 is a statement regarding computation of
ratio of earnings to fixed charges for the year ended December 31, 1995 and
a pro forma computation of ratio of earnings to fixed charges for the year
ended December 31, 1995, which displays the effects of the business
combination of Burlington Northern Inc. and Santa Fe Pacific Corporation
on September 22, 1995.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
BURLINGTON NORTHERN SANTA FE CORPORATION
(Registrant)
Date: February 13, 1996 By: /s/ Thomas N. Hund
(Signature)
Thomas N. Hund
Vice President and Controller
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
12.1 Statement of Computation
of Ratio of Earnings to Fixed Charges
<PAGE>
<TABLE>
Burlington Northern Santa Fe Corporation
Statement of Computation of Ratio of Earnings To Fixed Charges
(In millions, except ratio)
(Unaudited)
<CAPTION>
Pro Forma
Year Ended Year Ended
December 31, December 31,
1995 1995
------------ ------------
<S> <C> <C>
Earnings:
Pre-tax income $ 334 $ 992
Add:
Interest and fixed charges,
excluding capitalized interest 220 340
Amortization of capitalized interest 1 3
Portion of rent under long-term
operating leases representative
of an interest factor 129 157
Deduct: Undistributed equity in earnings
of investments accounted for
under the equity method (27) (29)
----- ------
Total earnings available for fixed charges $ 657 $ 1,463
===== ======
Fixed Charges:
Interest Expense and fixed charges $ 227 $ 352
Portion of rent under long-term operating
leases representative of an interest factor 129 157
----- ------
Total Fixed Charges $ 356 $ 509
===== ======
Ratio of Earnings to Fixed Charges 1.85 x 2.87 x
===== ======
</TABLE>
The above pro forma computation of ratio of earnings to fixed charges displays
the effect of the September 22, 1995, Burlington Northern Inc. ("BNI") and
Santa Fe Pacific Corporation ("SFP") business combination (the "Merger"),
including the effects of purchase accounting and debt issued by BNI and SFP to
repurchase, pursuant to the Merger agreement, 25 million and 38 million shares
of SFP common stock, respectively, as if it had occurred on January 1, 1995.
This information is based on, and should be read in conjunction with, the pro
forma financial information included in Burlington Northern Santa Fe
Corporation's Current Report on Form 8-K (Date of earliest event reported:
September 22, 1995), as amended.
