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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
Total debt as of December 31, 2024 and 2023, is summarized below:
Millions20242023
Notes and debentures, 2.2% to 7.1% due through February 14, 2072
$32,044 $33,383 
Equipment obligations, 2.6% to 6.2% due through January 2, 2031 [a]
732 770 
Finance leases, 3.1% to 6.8% due through December 10, 2028
109 158 
Unamortized discount and deferred issuance costs(1,693)(1,732)
Total debt31,192 32,579 
Less: current portion(1,425)(1,423)
Total long-term debt$29,767 $31,156 
[a]Equipment obligations are secured by an interest in certain railroad equipment with a carrying value of approximately $0.8 billion and $0.9 billion at December 31, 2024 and 2023, respectively.
Schedule of Maturities of Long-Term Debt The following table presents aggregate debt maturities as of December 31, 2024, excluding market value adjustments:
Millions
2025$1,426 
20261,516 
20271,285 
20281,235 
20291,258 
Thereafter26,165 
Total principal32,885 
Unamortized discount and deferred issuance costs(1,693)
Total debt$31,192