v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and Cash Equivalents $ 1,007 $ 670
Short-term Investments (Note 9) 383 5
Accounts Receivable - Net (Note 8) 1,456 1,298
Materials and Supplies 406 390
Other Current Assets 156 187
Total Current Assets 3,408 2,550
Properties 54,464 53,816
Accumulated Depreciation (17,518) (17,005)
Properties - Net 36,946 36,811
Investment in Affiliates and Other Companies 2,675 2,634
Right-of-Use Lease Asset 478 464
Goodwill and Other Intangible Assets - Net 261 267
Other Long-term Assets 958 956
Total Assets 44,726 43,682
Current Liabilities:    
Accounts Payable 1,111 1,149
Labor and Fringe Benefits Payable 549 532
Casualty, Environmental and Other Reserves (Note 4) 182 184
Current Maturities of Long-term Debt (Note 7) 1,702 708
Income and Other Taxes Payable 188 118
Interest Payable 172 170
Other Current Liabilities 250 272
Total Current Liabilities 4,154 3,133
Casualty, Environmental and Other Reserves (Note 4) 300 295
Long-term Debt (Note 7) 17,162 18,165
Deferred Income Taxes - Net 8,000 7,914
Long-term Lease Liability 493 479
Other Long-term Liabilities 529 536
Total Liabilities 30,638 30,522
Shareholders' Equity:    
Common Stock, $1 Par Value 1,852 1,860
Other Capital 1,087 948
Retained Earnings 11,352 10,560
Accumulated Other Comprehensive Loss (Note 10) (209) (213)
Non-controlling Minority Interest 6 5
Total Shareholders' Equity 14,088 13,160
Total Liabilities and Shareholders' Equity $ 44,726 $ 43,682