Our significant segment expenses as monitored by the CODM are shown in the table below. This breakout of revenues and expenses is used by the CODM to monitor and assess the financial performance of our rail network by comparing actual results to prior years and plans.



Millions, for the three months ended March 31,	2026		2025
Bulk	$	2,026	$	1,836
Industrial	2,191		2,082
Premium	1,676		1,773
Total freight revenues	$	5,893	$	5,691
Other subsidiary revenues	175		194
Accessorial revenues	126		118
Other	23		24
Total operating revenues	$	6,217	$	6,027
Operating [a]	1,719		1,684
Administrative [a]	185		193
Locomotive fuel	630		591
Acquisition-related (Note 17)	36		-
Other segment items [b]	556		578
Depreciation	633		610
Other income, net	(91)		(78)
Interest expense	320		322
Income tax expense	528		501
Net income	$	1,701	$	1,626

[a]Operating and administrative includes compensation and benefits, purchased services and materials, equipment and other rents, non-locomotive fuel, and other expenses.

[b]Other segment items includes car hire and leases, casualty costs, state and local taxes, subsidiary expense, and other overhead expense.