----

----

| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

| Delaware                                                      |   | 41-6034000                          |
|---------------------------------------------------------------|--------|-------------------------------------|
| (State or other jurisdictionof incorporation or organization) |   | (I.R.S. EmployerIdentification No.) |

| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                                |  Yes  [x]  No  [  ]            |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                              |                                                                        |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  |  Yes  [  ]  No  [  ] |
|                                                                                                                                                                                                                                                                                                                                                                                              |                                                                        |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.                                                      |                                                                        |
| Large accelerated filer  [  ]  Accelerated filer  [  ]   Non-accelerated filer  [x ] Smaller reporting company [  ]                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                              |                                                                        |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).                                                                                                                                                                                                                                                                             | Yes  [  ]  No  [x]                  |
|                                                                                                                                                                                                                                                                                                                                                                                              |                                                                        |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.                                                                                                                                                                                                                                                          |                                                                        |

| Class                         |    | SharesOutstanding atMay 7, 2010 |
|-------------------------------|--------------|---------------------------------|
| Common stock, $1.00 par value |    | 1,000 shares               |

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| PART I      | FINANCIAL INFORMATION                                           | PAGE   |
|------------------|-----------------------------------------------------------------|--------|
| Item 1.     | Financial Statements.                                           | 3      |
| Item 2.     | Management’s Narrative Analysis of Results of Operations. | 25     |
| Item 4T.    | Controls and Procedures.                                        | 29     |
| PART II     | OTHER INFORMATION                                               |   |
| Item 6.     | Exhibits.                                                       | 30     |
| Signatures  |                                                            | S-1    |
| Exhibits         |                                                            | E-1    |

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Item 1.    Financial Statements.

|                             |   | Successor                         |   | Predecessor                         |
|----------------------------------|--------|-----------------------------------|--------|-------------------------------------|
|                             |   | February 13 – March 31,2010 |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Revenues                         | $      | 2,045                             | $      | 1,768                               | $ | 3,383 |
|                             |   |                              |   |                                |   |   |
| Operating expenses:              |   |                              |   |                                |   |   |
| Compensation and benefits        |   | 527                               |   | 439                                 |   | 862 |
| Fuel                             |   | 330                               |   | 329                                 |   | 614 |
| Purchased services               |   | 238                               |   | 211                                 |   | 476 |
| Depreciation and amortization    |   | 227                               |   | 192                                 |   | 370 |
| Equipment rents                  |   | 102                               |   | 97                                  |   | 201 |
| Materials and other              |   | 90                                |   | 1                                   |   | 199 |
| Total operating expenses         |   | 1,514                             |   | 1,269                               |   | 2,722 |
| Operating income                 |   | 531                               |   | 499                                 |   | 661 |
| Interest expense                 |   | 15                                |   | 16                                  |   | 42 |
| Interest income, related parties |   | (1)                               |   | (1)                                 |   |  – |
| Other expense, net               |   |  –                     |   |  2                             |   | 3 |
|                             |   |                              |   |                                |   |   |
| Income before income taxes  |   | 517                               |   | 482                                 |   | 616 |
| Income tax expense               |   | 176                               |   | 200                                 |   | 232 |
| Net income                       | $      | 341                               | $      | 282                                 | $ | 384 |

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|                                                                                           |   | Successor |                     | Predecessor       |
|------------------------------------------------------------------------------------------------|--------|-----------|--------------------------|-------------------|
|                                                                                           |   | March 31, |      | December 31, |
|                                                                                           |   | 2010      |                     | 2009              |
|                                                                                           |   |      |                     |              |
| ASSETS                                                                                         |   |      |                     |              |
| Current assets:                                                                                |   |      |                     |              |
| Cash and cash equivalents                                                                      | $      | 13        | $                        | 20                |
| Accounts receivable, net                                                                       |   | 955       |                     | 810               |
| Materials and supplies                                                                         |   | 634       |                     | 632               |
| Current portion of deferred income taxes                                                       |   | 228       |                     | 282               |
| Other current assets                                                                           |   | 277       |                     | 375               |
|  Total current assets                                                                     |   | 2,107     |                     | 2,119             |
|                                                                                           |   |      |                     |              |
| Property and equipment, net of accumulated depreciation of $297 and $10,731, respectively      |   | 44,219    |                     | 32,278            |
| Goodwill                                                                                       |   | 14,803    |                     | −           |
| Intangible assets, net                                                                         |   | 1,967     |                     | −           |
| Other assets                                                                                   |   | 2,298     |                     | 3,193             |
| Total assets                                                                                   | $      | 65,394    | $                        | 37,590            |
|                                                                                           |   |      |                     |              |
| LIABILITIES AND STOCKHOLDER’S EQUITY                                                     |   |      |                     |              |
| Current liabilities:                                                                           |   |      |                     |              |
| Accounts payable and other current liabilities                                                 | $      | 2,548     | $                        | 2,548             |
| Long-term debt due within one year                                                             |   | 327       |                     | 335               |
|  Total current liabilities                                                                |   | 2,875     |                     | 2,883             |
|                                                                                           |   |      |                     |              |
| Deferred income taxes                                                                          |   | 13,696    |                     | 9,360             |
| Long-term debt                                                                                 |   | 2,288     |                     | 2,118             |
| Intangible liabilities, net                                                                    |   | 2,016     |                     | −           |
| Casualty and environmental liabilities                                                         |   | 898       |                     | 899               |
| Pension and retiree health and welfare liability                                               |   | 869       |                     | 783               |
| Other liabilities                                                                              |   | 550       |                     | 1,799             |
| Total liabilities                                                                              |   | 23,192    |                     | 17,842            |
| Commitments and contingencies (see Notes 3, 6 and 7)                                           |   |      |                     |              |
| Stockholder’s equity:                                                                    |   |      |                     |              |
| Common stock, $1 par value, 1,000 shares authorized;issued and outstanding and paid-in capital |   | 42,919    |                     | 6,331             |
| Retained earnings                                                                              |   | 341       |                     | 14,866            |
| Intercompany notes receivable                                                                  |   | (1,095)   |                     | (948)             |
| Accumulated other comprehensive income (loss)                                                  |   | 37        |                     | (501)             |
| Total stockholder’s equity                                                               |   | 42,202    |                     | 19,748            |
| Total liabilities and stockholder’s equity                                               | $      | 65,394    | $                        | 37,590            |
|                                                                                           |

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|                                                                              |   | Successor                         |   | Predecessor                         |
|-----------------------------------------------------------------------------------|--------|-----------------------------------|--------|-------------------------------------|
|                                                                              |   | February 13 – March 31,2010 |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
|                                                                              |   |                              |   |                                |   |   |
| OPERATING ACTIVITIES                                                              |   |                              |   |                                |   |   |
| Net income                                                                        | $      | 341                               | $      | 282                                 | $ | 384 |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                              |   |                                |   |   |
| Depreciation and amortization                                                     |   | 227                               |   | 192                                 |   | 370 |
| Deferred income taxes                                                             |   | (54)                              |   | 134                                 |   | 121 |
| Long-term casualty and environmental liabilities, net                             |   | (25)                              |   | (2)                                 |   | (1) |
| Other, net                                                                        |   | (12)                              |   | (73)                                |   | 6 |
| Changes in current assets and liabilities:                                        |   |                              |   |                                |   |   |
| Accounts receivable, net                                                          |   | (358)                             |   | 217                                 |   | 86 |
| Change in accounts receivable sales program                                       |   | −                           |   | −                             |   | (50) |
| Materials and supplies                                                            |   | (6)                               |   | 4                                   |   | (13) |
| Other current assets                                                              |   | 10                                |   | (129)                               |   | (129) |
| Accounts payable and other current liabilities                                    |   | 664                               |   | (574)                               |   | (160) |
| Net cash provided by operating activities                                         |   | 787                               |   | 51                                  |   | 614 |
| INVESTING ACTIVITIES                                                              |   |                              |   |                                |   |   |
| Capital expenditures excluding equipment                                          |   | (202)                             |   | (137)                               |   | (462) |
| Acquisition of equipment                                                          |   | (81)                              |   | (67)                                |   | (286) |
| Proceeds from sale of equipment financed                                          |   | −                           |   | −                             |   | 368 |
| Construction costs for facility financing obligation                              |   | −                           |   | −                             |   | (13) |
| Other, net                                                                        |   | (216)                             |   | 66                                  |   | 4 |
| Net cash used for investing activities                                            |   | (499)                             |   | (138)                               |   | (389) |
| FINANCING ACTIVITIES                                                              |   |                              |   |                                |   |   |
| Payments on long-term debt                                                        |   | (32)                              |   | (29)                                |   | (58) |
| Proceeds from facility financing obligation                                       |   | −                           |   | −                             |   | 15 |
| Net (increase) decrease in intercompany notes receivable classified as equity     |   | (257)                             |   | 110                                 |   | (195) |
| Other, net                                                                        |   | −                           |   | −                             |   | (2) |
| Net cash (used for) provided by financing activities                              |   | (289)                             |   | 81                                  |   | (240) |
| Decrease in cash and cash equivalents                                             |   | (1)                               |   | (6)                                 |   | (15) |
| Cash and cash equivalents:                                                        |   |                              |   |                                |   |   |
| Beginning of period                                                               |   | 14                                |   | 20                                  |   | 209 |
| End of period                                                                     | $      | 13                                | $      | 14                                  | $ | 194 |
| SUPPLEMENTAL CASH FLOW INFORMATION                                                |   |                              |   |                                |   |   |
| Interest paid, net of amounts capitalized                                         | $      | 23                                | $      | 10                                  | $ | 18 |
| Income taxes paid, net of refunds                                                 | $      | 102                               | $      | −                             | $ | 253 |
| Non-cash asset financing                                                          | $      | 4                                 | $      | 8                                   | $ | 395 |

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| Predecessor                                                                                   |   | Common Stock and Paid-in Capital |    | Retained Earnings |    | Inter-CompanyNotesReceivable |   | Accumulated Other Comprehensive Loss |   |   Total Stockholder’s Equity |
|-----------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|-------------------|---------|------------------------------|--------|-------------------------------------------|--------|-----------------------------------------|
| Balance at December 31, 2009                                                                  |   | $                                     | 6,331   |              |  $ | 14,866                       |   | $                                         | (948)  |                                    | $ | (501) |   | $ |     19,748 |
| Change in intercompany notes receivable                                                       |   |                                  | – |              |    | –                      |   | 110                                       |   |                                    | – |   |   | 110 |
| Comprehensive income:                                                                         |   |                                  |    |              |    |                         |   |                                      |   |                                    |   |   |   |   |
| Net income                                                                                    |   |                                  | – |              |    | 282                          |   | –                                   |   |                                    | – |   |   | 282 |
| Change in unrecognized prior service credit and actuarial losses, net of tax expense of $1    |   |                                  | – |              |    | –                      |   | –                                   |   |                                    | 2 |   |   | 2 |
| Change in fuel/interest hedge mark-to-market, net of tax benefit of $28                       |   |                                  | – |              |    | –                      |   | –                                   |   |                                    | (45) |   |   | (45) |
| Change in other comprehensive income of equity method investees                               |   |                                  | – |              |    | –                      |   | –                                   |   |                                    | 2 |   |   | 2 |
|             Total comprehensive income |   |                                  |    |              |    |                         |   |                                      |   |                                    |   |   |   |   | 241 |
| Balance at February 12, 2010                                                                  |   | $                                     | 6,331   |              | $       | 15,148                       |   | $                                         | (838)  |                                    | $ | (542) |   | $ |     20,099 |
|                                                                                          |   |                                  |    |              |    |                         |   |                                      |   |                                    |   |   |   |   |   |

| Successor                                                                                     |   | Common Stock and Paid-in Capital |    | Retained Earnings |    | Inter-CompanyNotesReceivable |   | Accumulated Other Comprehensive Income |    |   Total Stockholder’s Equity |
|-----------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|-------------------|---------|------------------------------|--------|---------------------------------------------|---------|----------------------------------------------|
| Balance at February 12, 2010                                                                  |   | $                                     | – |              | $  | –                      |   | $                                           | (838)   |                                         | $  | –  |   | $ | (838) |
| Net contribution from Berkshire Hathaway Inc.                                                 |   |                                  | 42,919  |              |    | –                      |   |                                        | – |                                         |   | – |   |   | 42,919 |
| Change in intercompany notes receivable                                                       |   |                                  | – |              |    | –                      |   | (257)                                       |    |                                         | – |   |   | (257) |
| Comprehensive income:                                                                         |   |                                  |    |              |    |                         |   |                                        |    |                                         |   |   |   |   |
| Net income                                                                                    |   |                                  | – |              |    | 341                          |   | –                                     |    |                                         | – |   |   | 341 |
| Change in fuel/interest hedge mark-to-market, net of tax expense of $24                       |   |                                  | – |              |    | –                      |   | –                                     |    |                                         | 37 |   |   | 37 |
|             Total comprehensive income |   |                                  |    |              |    |                         |   |                                        |    |                                         |   |   |   |   | 378 |
| Balance at March 31, 2010                                                                     |   | $                                     | 42,919  |              | $  | 341                          |   | $                                           | (1,095) |                                         | $  | 37 |   | $ |     42,202 |
|                                                                                          |   |                                  |    |              |    |                         |   |                                        |    |                                         |   |   |   |   |   |

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| Assets                                   |   |    |   |   | Liabilities and net assets acquired              |   |   |   |
|------------------------------------------|--------|---------|--------|--------|--------------------------------------------------|--------|--------|--------|
| Cash and cash equivalents                |   | $       | 14     |   | Accounts payable and other current liabilities   |   | $      | 2,197  |
| Accounts receivable, net                 |   |    | 829    |   | Long-term debt due within one year               |   |   | 342    |
| Materials and supplies                   |   |    | 629    |   | Long-term debt                                   |   |   | 2,326  |
| Current portion of deferred income taxes |   |    | 202    |   | Deferred income taxes                            |   |   | 13,696 |
| Other current assets                     |   |    | 272    |   | Intangible liabilities, net                      |   |   | 2,056  |
| Property and equipment, net              |   |    | 43,970 |   | Casualty and environmental liabilities           |   |   | 928    |
| Goodwill                                 |   |    | 14,803 |   | Pension and retiree health and welfare liability |   |   | 865    |
| Intangible assets, net                   |   |    | 2,018  |   | Other liabilities                                |   |   | 492    |
| Other assets                             |   |    | 2,246  |   | Intercompany notes receivable                    |   |   | (838)  |
|                                     |   |    |   |   | Net assets acquired                              |   |   | 42,919 |
| Total assets                             |   |  $ | 64,983 |   | Total liabilities and net assets acquired        |   | $      | 64,983 |

|       |   | Three Months Ended March 31, |
|------------|--------|------------------------------|
|       |   | 2010                         |   | 2009 |
| Revenues   |   | $                            | 3,845 |   | $ | 3,451 |
| Net income |   | $                            | 654 |   | $ | 413 |

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|                       |   | Successor     |   |   | Predecessor      |   |
|----------------------------|--------|---------------|--------|--------|------------------|--------|
|                       |   | March 31,2010 |   |   | December 31,2009 |   |
|                       |   |          |   |   |             |   |
| Short-term hedge asset     | $      | 34            |   | $      | 20               |   |
| Long-term hedge asset      |   | 36            |   |   | 40               |   |
| Short-term hedge liability |   | (21           | )      |   | (25              | )      |
| Long-term hedge liability  |   | (11           | )      |   | (12              | )      |
| Total derivatives          | $      | 38            |   | $      | 23               |   |

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| Fair Value of Derivative Instruments                                           |
|--------------------------------------------------------------------------------|
|  Asset Derivatives                                                        |
|                                                                           |   |   |   |   |   |   |   |   |
|                                                                           |   | Successor |   | Predecessor |   |   |
|                                                                           |   | March 31, 2010 |   | December 31, 2009 |   | Balance SheetLocation |
|                                                                           |   |   |   |   |   |   |   |   |
| Asset derivatives designated as hedging instruments under ASC 815-20           |   |   |   |   |   |   |   |   |
| Fuel contracts                                                                 |   | $ | 31 |   | $ | 20 |   | Other current assets |
| Fuel contracts                                                                 |   |   | 33 |   |   | 40 |   | Other assets |
| Fuel contracts                                                                 |   |   | 1 |   |   | 10 |   | Accounts payable and other current liabilities |
| Fuel contracts                                                                 |   |   | − |   |   | 3 |   | Other liabilities |
| Total asset derivatives designated as hedging instruments under ASC 815-20     |   | $ | 65 |   | $ | 73 |   |   |
|                                                                           |   |   |   |   |   |   |   |   |
| Asset derivatives not designated as hedging instruments under ASC 815-20       |   |   |   |   |   |   |   |   |
| Fuel contracts                                                                 |   | $ | 7 |   | $ | − |   | Other current assets |
| Fuel contracts                                                                 |   |   | 3 |   |   | − |   | Other assets |
| Total asset derivatives not designated as hedging instruments under ASC 815-20 |   | $ | 10 |   | $ | − |   |   |
|                                                                           |   |   |   |   |   |   |   |   |
| Total asset derivatives                                                        |   | $ | 75 |   | $ | 73 |   |   |

| Liability Derivatives                                                          |
|--------------------------------------------------------------------------------|
|                                                                           |   |   |   |   |   |   |   |   |
|                                                                           |   | Successor |   | Predecessor |   |   |
|                                                                           |   | March 31, 2010 |   | December 31, 2009 |   | Balance SheetLocation |
|                                                                           |   |   |   |   |   |   |   |   |
| Liability derivatives designated as hedging instruments under ASC 815-20       |   |   |   |   |   |   |   |   |
| Fuel contracts                                                                 |   | $ | 4 |   | $ | − |   | Other current assets |
| Fuel contracts                                                                 |   |   | 22 |   |   | 35 |   | Accounts payable and other current liabilities |
| Fuel contracts                                                                 |   |   | 11 |   |   | 15 |   | Other liabilities |
| Total liability derivatives designated as hedging instruments under ASC 815-20 |   | $ | 37 |   | $ | 50 |   |   |
|                                                                           |   |   |   |   |   |   |   |   |
| Total liability derivatives                                                    |   | $ | 37 |   | $ | 50 |   |   |

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| The Effects of Derivative Instruments Gains and Losses |
|--------------------------------------------------------|

|              |   | Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) |
|-------------------|--------|-------------------------------------------------------------------------------|
|              |   | Successor                                                                     |   | Predecessor |
|              |   | February 13 – March 31, 2010                                       |   | January 1 –February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Fuel Contracts    | $      | 74                                                                       | $ | (79)  | $ | (32)  |
| Total derivatives | $      | 74                                                                       | $ | (79)  | $ | (32)  |

|              |   |                                                            |   | Amount of Gain or (Loss) Recognized from AOCI into Income(Effective Portion) |
|-------------------|--------|-----------------------------------------------------------------|--------|------------------------------------------------------------------------------|
|              |   |                                                            |   | Successor                                                                    |   | Predecessor |
|              |   | Location of Gainor (Loss) Recognized from AOCI into Income |   | February 13 – March 31, 2010                                      |   | January 1 – February 12,2010 |   | Three Months Ended March31, 2009 |
| Fuel Contracts    |   | Fuel expense                                                    | $      | 13                                                                      | $ | (6)  | $ | (106)  |
| Total derivatives | $      | 13                                                         | $      | (6)                                                                     | $ | (106)  |

|              |   |                                                           |   | Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)a |
|-------------------|--------|----------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------|
|              |   |                                                           |   | Successor                                                                                                                          |   | Predecessor |
|              |   | Location of Gain or (Loss) Recognized in Income on Derivatives |   | February 13 – March 31, 2010                                                                                            |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Fuel Contracts    |   | Fuel expense                                                   | $      | 8                                                                                                                             | $ | (7)  | $ | 1  |
| Total derivatives | $      | 8                                                         | $      | (7)                                                                                                                           | $ | 1  |

|              |   |                                                                |   | Amount of Gain or (Loss) Recognized in Income on Derivatives |
|-------------------|--------|---------------------------------------------------------------------|--------|--------------------------------------------------------------|
|              |   |                                                                |   | Successor                                                    |   | Predecessor |
|              |   | Location of Gain or (Loss) Recognized in Income on Derivatives |   | February 13 – March 31, 2010                      |   | January 1 – February 12,2010 |   | Three Months Ended March 31, 2009 |
| Fuel Contracts    |   | Fuel expense                                                        | $      | 13                                                      | $ | −  | $ | −  |
| Total derivatives | $      | 13                                                             | $      | −                                                 | $ | −  |

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|              |   | Successor                          |    | Predecessor                         |
|-------------------|--------|------------------------------------|---------|-------------------------------------|
|              |   | February 13 – March 31, 2010 |    | January 1 – February 12, 2010 |   | Three Months EndedMarch 31, 2009 |
| Beginning balance |   | $                                  | − |                                | $ | − |   | $ | − |
| Additions         |   |                               | 14,803  |                                |   | − |   |   | − |
| Ending balance    |   | $                                  | 14,803  |                                | $ | − |   | $ | − |

|                             |   | Successor             |   | Predecessor              |
|----------------------------------|--------|-----------------------|--------|--------------------------|
|                             |   | As of March 31, 2010  |   | As of December 31, 2009  |
|                             |   | Gross Carrying Amount |   | Accumulated Amortization |   | Gross Carrying Amount |   | Accumulated Amortization |
|                             |   |                  |   |                     |   |   |   |   |   |   |   |   |
| Amortized intangible assets      |   | $                     | 2,018  |                     | $ | 51 |   | $ | − |   | $ | − |
| Amortized intangible liabilities |   | $                     | 2,056  |                     | $ | 40 |   | $ | − |   | $ | − |

|                                   |   | Successor                          |   | Predecessor                         |
|----------------------------------------|--------|------------------------------------|--------|-------------------------------------|
|                                   |   | February 13 – March 31, 2010 |   | January 1 – February 12, 2010 |   | Three Months EndedMarch 31, 2009 |
| Amortization of intangible assets      |   | $                                  | 51     |                                | $ | − |   | $ | − |
| Amortization of intangible liabilities |   | $                                  | 40     |                                | $ | − |   | $ | − |

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|              |   | Amortization of intangible assets |   | Amortization of intangible liabilities |
|-------------------|--------|-----------------------------------|--------|----------------------------------------|
| Remainder of 2010 |   | $                                 | 231    |                                   | $ | 226 |
| 2011              |   | $                                 | 307    |                                   | $ | 293 |
| 2012              |   | $                                 | 307    |                                   | $ | 282 |
| 2013              |   | $                                 | 307    |                                   | $ | 252 |
| 2014              |   | $                                 | 307    |                                   | $ | 179 |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Guarantees                        |   |                       |   |                   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|----------------------------|--------|------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | BNSF Railway Ownership Percentage |   | PrincipalAmount Guaranteed |   | MaximumFuture Payments |   | MaximumRecourseAmounta |   | Remaining Term(in years) |   | Capitalized Obligations |   |
| Kinder Morgan Energy Partners, L.P.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 0.5%                              |   | $                          | 190    |                   | $ | 190 |   | $ | – |   | Termination of Ownership |   | $ | 2 | b |
| Chevron Phillips Chemical Company, LP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 0.0%                              |   |                       | N/Ad   |                   |   | N/Ad |   |   | N/Ad |   | 8 |   | $ | 12 | c |
| All other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 0.0%                              |   | $                          | 3      |                   | $ | 3 |   | $ | 1 |   | Various |   | $ | – |   |
| a Reflects the maximum amount the Company could recover from a third party other than the counterparty.b Reflects capitalized obligations that are recorded on the Company’s Consolidated Balance Sheet.c Reflects the asset and corresponding liability for the fair value of these guarantees required by authoritative accounting guidance related to guarantees.d There is no cap to the liability that can be sought from BNSF Railway for BNSF Railway’s negligence or the negligence of the indemnified party. However, BNSF Railway could receive reimbursement from certain insurance policies if the liability exceeds a certain amount. |

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|              |   | Successor                          |   | Predecessor                         |   |
|-------------------|--------|------------------------------------|--------|-------------------------------------|--------|
|              |   | February 13 – March 31, 2010 |   | January 1 – February 12, 2010 |   | Three Months EndedMarch 31, 2009 |   |
| Beginning balance |   | $                                  | 664    |                                |   | $ | 632 |   | $ | 693 |   |
| Accruals          |   |                               | 5      |                                |   |   | 10 |   |   | 28 |   |
| Payments          |   |                               | (21    | )                                   |   |   | (9 | ) |   | (33 | ) |
| Ending balance    |   | $                                  | 648    |                                |   | $ | 633 |   | $ | 688 |   |

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|              |   | Successor                          |   | Predecessor                         |   |
|-------------------|--------|------------------------------------|--------|-------------------------------------|--------|
|              |   | February 13 – March 31, 2010 |   | January 1 – February 12, 2010 |   | Three Months EndedMarch 31, 2009 |   |
| Beginning balance |   | $                                  | 514    |                                |   | $ | 517 |   | $ | 546 |   |
| Accruals          |   |                               | 1      |                                |   |   | 6 |   |   | 31 |   |
| Payments          |   |                               | (10    | )                                   |   |   | (9 | ) |   | (27 | ) |
| Ending balance    |   | $                                  | 505    |                                |   | $ | 514 |   | $ | 550 |   |

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|                           |   | Pension Benefits                  |
|--------------------------------|--------|-----------------------------------|
|                           |   | Successor                         |   | Predecessor |
| Net Cost                       |   | February 13 – March 31,2010 |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Service cost                   |   | $                                 | 4 |   | $ | 3 |   | $ | 7 |
| Interest cost                  |   |                              | 14 |   |   | 12 |   |   | 26 |
| Expected return on plan assets |   |                              | (13) |   |   | (14) |   |   | (27) |
| Amortization of net loss       |   |                              | – |   |   | 4 |   |   | 6 |
| Net cost recognized            |   | $                                 | 5 |   | $ | 5 |   | $ | 12 |

|                                 |   | Retiree Health and Welfare Benefits |
|--------------------------------------|--------|-------------------------------------|
|                                 |   | Successor                           |   | Predecessor |
| Net Cost                             |   | February 13 – March 31,2010   |   | January 1 – February 12,2010 |   | Three Months Ended March 31, 2009 |
| Interest cost                        |   | $                                   | 2 |   | $ | 2 |   | $ | 4 |
| Amortization of prior service credit |   |                                | – |   |   | – |   |   | (1) |
| Net cost recognized                  |   | $                                   | 2 |   | $ | 2 |   | $ | 3 |

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|                                                                                                              |   | Successor                          |   | Predecessor                         |
|-------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|--------|-------------------------------------|
|                                                                                                              |   | February 13 – March 31, 2010 |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Net income                                                                                                        | $      | 341                                | $      | 282                                 | $ | 384 |
| Other comprehensive income:                                                                                       |   |                               |   |                                |   |   |
|     Change in unrecognized prior service credit and actuarial losses, net of tax (see Note 8) |   | –                            |   | 2                                   |   | 3 |
| Change in fuel/interest hedge mark-to-market, net of tax (see Note 3)                                             |   | 37                                 |   | (45)                                |   | 45 |
| Change in unrealized loss on securities held by equity method investees                                           |   | –                            |   | 2                                   |   | – |
| Total comprehensive income                                                                                        | $      | 378                                | $      | 241                                 | $ | 432 |

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|                                                                            |   | Successor     |    | Predecessor      |   |
|---------------------------------------------------------------------------------|--------|---------------|---------|------------------|--------|
|                                                                            |   | March 31,2010 |    | December 31,2009 |   |
| Unrecognized prior service credit and actuarial losses, net of tax (see Note 8) |   | $             | – |             |   | $ | (500 | ) |
| Fuel/interest hedge mark-to-market, net of tax (see Note 3)                     |   |          | 37      |             |   |   | 5 |   |
| Accumulated other comprehensive loss of equity method investees                 |   |          | – |             |   |   | (6 | ) |
| Total accumulated other comprehensive income (loss)                             |   | $             | 37      |             |   | $ | (501 | ) |

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Item 2.    Management’s Narrative Analysis of Results of Operations.

|                     |     | Revenues(in millions)                   |          | Cars / Units (in thousands)         |
|--------------------------|----------|-----------------------------------------|---------------|-------------------------------------|
|                     |     | Successor                               |          | Predecessor                         |   | Successor |   | Predecessor |
|                     |     | February 13 – March 31, 2010 |          | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |   | February 13 – March 31, 2010 |   | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
| Consumer Products        | $   | 577                                     | $        | 515                                 | $   | 1,051 |   | 502 |   | 453 |   | 976 |
| Coal                     |     | 546                                     |          | 442                                 |   | 863 |   | 310 |   | 259 |   | 627 |
| Agricultural Products    |     | 471                                     |          | 417                                 |   | 679 |   | 143 |   | 126 |   | 227 |
| Industrial Products      |     | 422                                     |          | 352                                 |   | 719 |   | 167 |   | 139 |   | 298 |
| Total Freight Revenues   |     | 2,016                                   |          | 1,726                               |   | 3,312 |   | 1,122 |   | 977 |   | 2,128 |
| Other Revenues           |     | 29                                      |          | 42                                  |   | 71 |   |   |   |   |   |   |
| Total Operating Revenues | $   | 2,045                                   | $   | 1,768                               | $   | 3,383 |   |   |   |   |   |   |

|                   |          | Average Revenue Per Car / Unit          |
|------------------------|---------------|-----------------------------------------|
|                   |          | Successor                               |   | Predecessor |
|                   |          | February 13 – March 31, 2010 |   | January 1 – February 12,2010 |   | Three Months Ended March 31, 2009 |
| Consumer Products      | $   | 1,149                                   | $   | 1,137 | $   | 1,077 |
| Coal                   |          | 1,761                                   |   | 1,707 |   | 1,376 |
| Agricultural Products  |          | 3,294                                   |   | 3,310 |   | 2,991 |
| Industrial Products    |          | 2,527                                   |   | 2,532 |   | 2,413 |
| Total Freight Revenues | $   | 1,797                                   | $   | 1,767 | $   | 1,556 |

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|                 |          | Successor                                           |    | Predecessor                         |
|----------------------|---------------|-----------------------------------------------------|---------|-------------------------------------|
|                 |          | February 13 – March 31, 2010             |    | January 1 – February 12, 2010 |   | Three Months Ended March 31, 2009 |
|                 |          |                                                |    |                                |   |   |
| Total fuel expense a | $   |         330 | $  | 329                                 | $  |         614 |
| BNSF fuel surcharges | $   | 230                                                 | $  | 192                                 | $  | 318 |

| §   | Sale of a line segment in the State of Washington was completed, resulting in a gain to materials and other expenses of $74 million. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------|

| §   | Consumer Products revenues included decreased domestic intermodal and international intermodal unit volumes, partially offset by stronger automotive volumes and improved yields. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Coal revenues were impacted by lower unit volumes due to customer stockpiles and soft economic conditions. First-quarter 2009 coal revenues included a $96 million loss in excess of amounts previously accrued related to an unfavorable coal rate case decision. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Industrial Products revenues included increased unit volumes due to increased demand in construction products as well as improved yields. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Agricultural Products were impacted by higher unit volumes due to increased international grain shipments and improved fertilizer and ethanol loadings, as well as improved yields. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Increased fuel surcharges per unit, primarily due to increased fuel prices, impacted revenues in each of the business units. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

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| §   | Improved performance against targets related to incentive compensation and profit sharing, which cover nearly all non-union and about one quarter of union employees, increased compensation and benefits expenses, as well as increased health and welfare expenses and wage inflation. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Higher fuel prices increased fuel expenses, offset by a higher loss from closed fuel derivatives in the first quarter of 2009. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|
| §   | New intangible asset amortization resulting from the application and amortization of acquisition method accounting increased depreciation and amortization expenses. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Lower environmental expenses decreased materials and other expenses. |
|--------------------|----------------------------------------------------------------------|

| §   | There were no significant changes in the underlying trends for purchased services expenses and equipment rents expenses. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------|

| §   | Interest expense included the impact of merger-related adjustments resulting from the application of acquisition method accounting, which decreased the expense. First-quarter 2009 interest expense included a $9 million loss related to an unfavorable coal rate case decision. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | The effective tax rate for the period of February 13 – March 31, 2010, was 34.0 percent, compared with 37.7 percent for the three months ended March 31, 2009. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Item 4T.

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Item 6.    Exhibits.

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SIGNATURES

| BNSF Railway Company(Registrant) |
|----------------------------------|
|                             |   |   |
| By:                              |   | /s/    Thomas N. Hund          |
|                             |   | Thomas N. HundExecutive Vice President and Chief Financial Officer(On behalf of the Registrant andas principal financial officer) |

| Date:  May 7, 2010 |
|------------------------------|

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Exhibit Index

|   |   |   |                                                                                                           |   | Incorporated by Reference(if applicable) |
|--------|--------|--------|----------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|
|   |   |   | Exhibit Number and Description                                                                                 |   | Form                                     | File Date | File No. | Exhibit |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 3.1    |   | Restated Certificate of Incorporation of BNSF Railway Company, dated January 17, 2005.                         |   | 10-Q                                     | 7/26/2005 | 001-06324 | 3.1 |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 3.2    |   | By-Laws of BNSF Railway Company, as amended August 30, 2005.                                                   |   | 10-Q                                     | 10/25/2005 | 001-06324 | 3.1 |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 12.1   |   | Computation of Ratio of Earnings to Fixed Charges.*                                                            |   |                                     |   |   |   |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 31.1   |   | Principal Executive Officer’s Certifications Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.* |   |                                     |   |   |   |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 31.2   |   | Principal Financial Officer’s Certifications Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.* |   |                                     |   |   |   |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   | 32.1   |   | Certification Pursuant to 18 U.S.C. § 1350 (Section 906 of the Sarbanes-Oxley Act of 2002).*              |   |                                     |   |   |   |
|   |   |   |                                                                                                           |   |                                     |   |   |   |
|   |   |   |                                                                                                           |   |                                     |   |   |   |

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