No mention of DG here for those not interested in BRK information.

For the true rhetor, I guess that counts as apophasis, possibly paralipsis, but not proslepsis?


More seriously, thanks for the rail link. It's a great read. Certainly both interlocutors know vastly more about rails than I will ever manage.

An interesting number in there, for those who like me are always trying to reconcile the bookkeeping with the reality in rails.
He mentions $3.96bn in capex for 2023, of which $2.85bn will have been maintenance capex.
Though I haven't looked it up, you can be sure that this period's depreciation on what they were maintaining will be very small compared to $2.85bn, so naive calculations of free cash flow are always off by a mile in rails.

The big projects to improve resilience in the face of weather "outliers" is very interesting. It's not something I thought about a lot for the railroad.
e.g., "Over the past few years, we have raised over 3,100 miles of track over 12' in areas prone to flooding."
12 feet is quite a bit!

Jim

Berkshire Hathaway FAQ

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