XML 50 R26.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | Leases We lease certain locomotives, freight cars, and other property for use in our rail operations. The following are additional details related to our lease portfolio:
Millions | Classification | Dec 31, 2024 | Dec 31, 2023
Assets |  |  |
Operating leases | Operating lease assets | $ | 1,297 |  | $ | 1,643 |
Finance leases | Properties, net [a] | 172 |  | 244 |
Total leased assets |  | $ | 1,469 |  | $ | 1,887 |
Liabilities |  |  |
Current |  |  |
Operating | Accounts payable and other current liabilities | $ | 346 |  | $ | 355 |
Finance | Debt due within one year | 37 |  | 49 |
Noncurrent |  |  |
Operating | Operating lease liabilities | 925 |  | 1,245 |
Finance | Debt due after one year | 72 |  | 109 |
Total lease liabilities |  | $ | 1,380 |  | $ | 1,758 |
[a]Finance lease assets are recorded net of accumulated amortization of $472 million and $497 million as of December 31, 2024 and 2023, respectively. The lease cost components are classified as follows:
Millions | Dec 31, 2024 | Dec 31, 2023
Operating lease cost [a] | $ | 340 |  | $ | 369 |
Short-term lease cost | 24 |  | 24 |
Variable lease cost | 37 |  | 41 |
Finance lease cost |  |
Amortization of leased assets [b] | 31 |  | 38 |
Interest on lease liabilities [c] | 5 |  | 8 |
Net lease cost | $ | 437 |  | $ | 480 |
[a]Operating lease cost is primarily reported in equipment and other rents in our Consolidated Statements of Income. [b]Amortization of leased assets is reported in depreciation in our Consolidated Statements of Income. [c]Interest on lease liabilities is reported in interest expense in our Consolidated Statements of Income. The following table presents aggregate lease maturities as of December 31, 2024:
Millions | Operating Leases | Finance Leases | Total
2025 | $ | 352 |  | $ | 42 |  | $ | 394 |
2026 | 281 |  | 35 |  | 316 |
2027 | 227 |  | 30 |  | 257 |
2028 | 200 |  | 11 |  | 211 |
2029 | 128 |  | - |  | 128 |
After 2029 | 213 |  | - |  | 213 |
Total lease payments | $ | 1,401 |  | $ | 118 |  | $ | 1,519 |
Less: Interest | 130 |  | 9 |  | 139 |
Present value of lease liabilities | $ | 1,271 |  | $ | 109 |  | $ | 1,380 |
The following table presents the weighted average remaining lease term and discount rate:
| Dec 31, 2024
Weighted-average remaining lease term (years) |
Operating leases | 5.4
Finance leases | 2.8
Weighted-average discount rate (%) |
Operating leases | 3.8 |
Finance leases | 4.4 |
The following table presents other information related to our operating and finance leases for the years ended December 31:
Millions | 2024 | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |
Operating cash flows from operating leases | $ | 319 |  | $ | 323 |
Investing cash flows from operating leases | 32 |  | 33 |
Operating cash flows from finance leases | 6 |  | 9 |
Financing cash flows from finance leases | 47 |  | 65 |
Leased assets obtained in exchange for operating lease liabilities | $ | 119 |  | $ | 241 |
Leases | Leases We lease certain locomotives, freight cars, and other property for use in our rail operations. The following are additional details related to our lease portfolio:
Millions | Classification | Dec 31, 2024 | Dec 31, 2023
Assets |  |  |
Operating leases | Operating lease assets | $ | 1,297 |  | $ | 1,643 |
Finance leases | Properties, net [a] | 172 |  | 244 |
Total leased assets |  | $ | 1,469 |  | $ | 1,887 |
Liabilities |  |  |
Current |  |  |
Operating | Accounts payable and other current liabilities | $ | 346 |  | $ | 355 |
Finance | Debt due within one year | 37 |  | 49 |
Noncurrent |  |  |
Operating | Operating lease liabilities | 925 |  | 1,245 |
Finance | Debt due after one year | 72 |  | 109 |
Total lease liabilities |  | $ | 1,380 |  | $ | 1,758 |
[a]Finance lease assets are recorded net of accumulated amortization of $472 million and $497 million as of December 31, 2024 and 2023, respectively. The lease cost components are classified as follows:
Millions | Dec 31, 2024 | Dec 31, 2023
Operating lease cost [a] | $ | 340 |  | $ | 369 |
Short-term lease cost | 24 |  | 24 |
Variable lease cost | 37 |  | 41 |
Finance lease cost |  |
Amortization of leased assets [b] | 31 |  | 38 |
Interest on lease liabilities [c] | 5 |  | 8 |
Net lease cost | $ | 437 |  | $ | 480 |
[a]Operating lease cost is primarily reported in equipment and other rents in our Consolidated Statements of Income. [b]Amortization of leased assets is reported in depreciation in our Consolidated Statements of Income. [c]Interest on lease liabilities is reported in interest expense in our Consolidated Statements of Income. The following table presents aggregate lease maturities as of December 31, 2024:
Millions | Operating Leases | Finance Leases | Total
2025 | $ | 352 |  | $ | 42 |  | $ | 394 |
2026 | 281 |  | 35 |  | 316 |
2027 | 227 |  | 30 |  | 257 |
2028 | 200 |  | 11 |  | 211 |
2029 | 128 |  | - |  | 128 |
After 2029 | 213 |  | - |  | 213 |
Total lease payments | $ | 1,401 |  | $ | 118 |  | $ | 1,519 |
Less: Interest | 130 |  | 9 |  | 139 |
Present value of lease liabilities | $ | 1,271 |  | $ | 109 |  | $ | 1,380 |
The following table presents the weighted average remaining lease term and discount rate:
| Dec 31, 2024
Weighted-average remaining lease term (years) |
Operating leases | 5.4
Finance leases | 2.8
Weighted-average discount rate (%) |
Operating leases | 3.8 |
Finance leases | 4.4 |
The following table presents other information related to our operating and finance leases for the years ended December 31:
Millions | 2024 | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |
Operating cash flows from operating leases | $ | 319 |  | $ | 323 |
Investing cash flows from operating leases | 32 |  | 33 |
Operating cash flows from finance leases | 6 |  | 9 |
Financing cash flows from finance leases | 47 |  | 65 |
Leased assets obtained in exchange for operating lease liabilities | $ | 119 |  | $ | 241 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration