Note 11 - Properties

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

11. Properties

The following tables list the major categories of property and equipment, as well as the weighted-average estimated useful life for each category (in years):

Millions, Except Estimated Useful Life			Accumulated		Net Book		Estimated
As of June 30, 2024	Cost		Depreciation		Value		Useful Life
Land	$	5,438	$	N/A	$	5,438		N/A
Road:
Rail and other track material		19,065		7,494		11,571		46
Ties		12,165		4,010		8,155		34
Ballast		6,415		2,122		4,293		34
Other roadway [a]		23,512		5,527		17,985		47
Total road		61,157		19,153		42,004		N/A
Equipment:
Locomotives		9,532		3,665		5,867		18
Freight cars		2,933		1,011		1,922		23
Work equipment and other [b]		1,168		455		713		17
Total equipment		13,633		5,131		8,502		N/A
Technology and other		1,421		609		812		12
Construction in progress		1,079		-		1,079		N/A
Total	$	82,728	$	24,893	$	57,835		N/A

Millions, Except Estimated Useful Life			Accumulated		Net Book		Estimated
As of December 31, 2023	Cost		Depreciation		Value		Useful Life
Land	$	5,426	$	N/A	$	5,426		N/A
Road:
Rail and other track material		18,837		7,344		11,493		42
Ties		11,985		3,895		8,090		34
Ballast		6,345		2,061		4,284		34
Other roadway [a]		23,175		5,368		17,807		47
Total road		60,342		18,668		41,674		N/A
Equipment:
Locomotives		9,295		3,591		5,704		18
Freight cars		2,765		956		1,809		23
Work equipment and other		1,344		546		798		17
Total equipment		13,404		5,093		8,311		N/A
Technology and other		1,388		574		814		12
Construction in progress		1,173		-		1,173		N/A
Total	$	81,733	$	24,335	$	57,398		N/A

[a]

Other roadway includes grading, bridges and tunnels, signals, buildings, and other road assets.

[b]

For retirements of depreciable railroad properties that do not occur in the normal course of business, a gain or loss may be recognized if the retirement meets each of the following three conditions: (a) is unusual, (b) is material in amount, and (c) varies significantly from the retirement profile identified through our depreciation studies. In the second quarter of 2024, we sold a large portion of an intermodal equipment asset class resulting in a $46 million gain recognized in other expense in our Condensed Consolidated Statements of Income.