v3.26.1
Operations and Segmentation (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Segment Reporting Information, by Segment
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.
Three months ended
June 30,		Six months ended
June 30,
Millions2026202520262025
Bulk$2,043 $1,901 $4,069 $3,737 
Industrial2,386 2,212 4,577 4,294 
Premium2,089 1,730 3,765 3,503 
Total freight revenues$6,518 $5,843 $12,411 $11,534 
Other subsidiary revenues194 181 369 375 
Accessorial revenues129 107 255 225 
Other23 23 46 47 
Total operating revenues$6,864 $6,154 $13,081 $12,181 
Operating [a]1,741 1,685 3,460 3,369 
Administrative [a]182 188 367 381 
Locomotive fuel913 563 1,543 1,154 
Acquisition-related (Note 18) [b]
35 1 71 1 
Other segment items [b] [c]592 579 1,148 1,157 
Depreciation638 613 1,271 1,223 
Other income, net(105)(123)(196)(201)
Interest expense313 335 633 657 
Income tax expense562 437 1,090 938 
Net income$1,993 $1,876 $3,694 $3,502 
[a]Operating and administrative includes compensation and benefits, purchased services and materials, equipment and other rents, non-locomotive fuel, and other expenses.
[b]Prior periods have been recast to reflect the presentation of the CODM’s review in the current year.
[c]Other segment items includes car hire and leases, casualty costs, state and local taxes, subsidiary expense, and other overhead expense.