Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Amount, Timing and Uncertainty of Cash Flows of Company's Operating Leases

The following table presents information about the amount, timing and uncertainty of cash flows arising from all of the Company’s operating leases as of December 31, 2023.

(Dollars in Millions)	December 2023
Maturity of Lease Liabilities	Lease Payments
2024	$	70
2025	67
2026	51
2027	43
2028	35
Thereafter	1,108
Total Undiscounted Operating Lease Payments	$	1,374
Less: Imputed Interest	(815)
Present Value of Operating Lease Liabilities	$	559

Future payments due to Conrail under the shared asset area agreements are shown in the table below.

(Dollars in Millions)	Conrail Shared
Years	Asset Agreement
2024	$	32
2025	32
2026	32
2027	32
2028	32
Thereafter	13
Total	$	173

Schedule of Balance Sheet Classification and Other Information of Company's Operating Leases

(Dollars in Millions)	2023			2022
Balance Sheet Classification
Right of Use Asset	$	498		$	505
Current Lease Liabilities (Included in Other Current Liabilities)	$	68		$	69
Long-term Lease Liabilities	491			488
Total Operating Lease Liabilities	$	559		$	557
Other Information
Weighted-average Remaining Lease Term for Operating Leases	30 years			31 years
Weighted-average Discount Rate for Operating Leases	5.1		%	5.0		%

Schedule of Operating Lease Costs

These amounts are shown in the table below.

	Years Ended
(Dollars in Millions)	2023		2022		2021
Rent Expense on Operating Leases	$	109	$	109	$	89