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Note 17 - Related Parties | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Related Party Transactions Disclosure [Text Block] | 17. Related Parties UPRR and other North American railroad companies jointly own TTX Company (TTX). UPRR has a 37.03% economic interest in TTX while the other North American railroads own the remaining interest. In accordance with ASC 323 Investments - Equity Method and Joint Venture, UPRR applies the equity method of accounting to our investment in TTX. TTX is a rail car pooling company that owns rail cars and intermodal wells to serve North America’s railroads. TTX assists railroads in meeting the needs of their customers by providing rail cars in an efficient, pooled environment. All railroads have the ability to utilize TTX rail cars through car hire by renting rail cars at stated rates. UPRR had $1.9 billion and $1.8 billion recognized as investments related to TTX in our Condensed Consolidated Statements of Financial Position as of June 30, 2024, and December 31, 2023, respectively. TTX car hire expenses of $107 million and $102 million for the three months ended June 30, 2024 and 2023, respectively, and $209 million and $205 million for the six months ended June 30, 2024 and 2023, respectively, are included in equipment and other rents in our Condensed Consolidated Statements of Income. In addition, UPRR had accounts payable to TTX of $72 million and $60 million at June 30, 2024, and December 31, 2023, respectively.

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