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Note 2 - Operations and Segmentation

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Nature of Operations [Text Block]

2. Operations and Segmentation

The Railroad, along with its subsidiaries and rail affiliates, is our one reportable operating segment. Although we provide and analyze revenues by commodity group, we treat the financial results of the Railroad as one segment due to the integrated nature of our rail network. Our operating revenues are primarily derived from contracts with customers for the transportation of freight from origin to destination.

The following table represents a disaggregation of our freight and other revenues:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
Millions		2023				2022				2023				2022
Bulk		$	1,766			$	1,959			$	5,420			$	5,604
Industrial			2,057				2,194				6,160				6,206
Premium			1,722				1,956				5,190				5,581
Total freight revenues		$	5,545			$	6,109			$	16,770			$	17,391
Other subsidiary revenues			226				231				681				669
Accessorial revenues			142				212				442				596
Other			28				14				67				39
Total operating revenues		$	5,941			$	6,566			$	17,960			$	18,695

Although our revenues are principally derived from customers domiciled in the U.S., the ultimate points of origination or destination for some products we transport are outside the U.S. Each of our commodity groups includes revenues from shipments to and from Mexico. Included in the above table are revenues from our Mexico business, which amounted to $673 million and $708 million for the three months ended September 30, 2023 and 2022, respectively, and $2.1 billion and $2.0 billion for the nine months ended September 30, 2023 and 2022, respectively.

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- Definition

The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 275
-Publisher FASB
-URI https://asc.fasb.org//275/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-SubTopic 10
-Topic 275
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482861/275-10-50-1

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