Burlington Northern Inc. of Seattle reported a...

Burlington Northern Inc. of Seattle reported a net loss for 1986 due to asset writedown and accounting changes amounting to $1.9 billion. Excluding these charges, Burlington Northern’s net income for 1986 totaled $289.1 million and $3.46 per share. The firm reported that although 1986 traffic volume slightly exceeded the prior year, rail revenue declined by $297.9 million as a result of coal rate litigation reserves totaling $101 million and competitive rate pressures. Oil and gas operations reported a net operating loss of $585.8 million after the special charge for reserve writedowns. Excluding this charge, the segment would have reported operating income of $18.8 million, compared to $96.9 million in 1985.