SPOTLIGHT TOPIC UPDATE - Agricultural Products
Cash Flow Summary
Twelve Months
Ended 9/30/16
2015
2014
Cash From Operations
Investment/CapEx
6,796
7,175
6,581
(4,648)
(5,827)
(5,249)
Free Cash Flow¹
2,148
1,348
1,332
Shareholder Returns
(2,750)
(4,000)
(3,500)
Net Borrowings
450
2,629
2,359
Other
(13)
(32)
(32)
Change in cash
(165)
(55)
159
2,875
2,329
2,384
Cash Balance
Credit Metrics (1)(2)
Target
Adjusted Debt to EBITDAR less
3.5
3.0
2.8
3x to 4x
Maintenance Capital
EBITDAR less Maintenance Capital
5.3
6.1
6.5
5x to 6x
Interest Coverage
1. Free Cash Flow and Credit Metrics are non-GAAP financial measures
2. Please refer to the Appendix of this presentation for a Non-GAAP Reconciliation of the "Adjusted Debt to EBITDAR Less Maintenance
Capital" and "EBITDAR less Maintenance Capital Interest Coverage" measures used on this page pursuant to SEC Regulation G.
$ in Millions
BNSF
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