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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” which requires additional reportable segment disclosures related to significant segment expenses and information used to assess performance. We adopted the provisions of this standard and updated our segment disclosures herein.
We manage our company as one reportable operating segment, railway operations, providing rail transportation to customers. Although we provide and analyze revenues by commodity group, the overall financial and operational performance of the railroad is analyzed as one operating segment due to the nature of our integrated rail network.

The chief operating decision maker assesses the performance of the railway operations segment and decides how to allocate resources based on “Net income” that is reported on the Consolidated Statements of Income. The measure of segment assets is reported on the Consolidated Balance Sheets as “Total assets.” Total expenditures for long-lived assets are disclosed as “Property additions” on the Consolidated Statement of Cash Flows.

Railway operations segment revenues, expenses, and profit are disclosed below as reviewed and used by the chief operating decision maker. There are no other significant segment items or reconciling items to segment profit.

Third QuarterFirst Nine Months
2025202420252024
($ in millions)
Railway operating revenues (Note 3)
$3,103 $3,051 $9,206 $9,099 
Railway operating expenses
Compensation and benefits738 690 2,169 2,126 
Purchased services414 405 1,224 1,244 
Equipment rents105 92 313 297 
Fuel237 216 700 757 
Depreciation348 339 1,040 1,011 
Materials104 96 302 286 
Claims75 66 200 164 
Other(32)(350)45 (250)
Merger-related expenses15 — 15 — 
Restructuring and other charges12 60 22 156 
Eastern Ohio incident(11)(159)(243)368 
Total railway operating expenses2,005 1,455 5,787 6,159 
Income from railway operations1,098 1,596 3,419 2,940 
Other income – net23 34 78 69 
Interest expense on debt197 203 597 608 
Income before income taxes924 1,427 2,900 2,401 
Income taxes213 328 671 512 
Net income$711 $1,099 $2,229 $1,889