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Revenues
6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The Company’s revenues are primarily derived from the transportation of freight as performance obligations that arise from its contracts with customers are satisfied. The below table presents the Company’s revenues disaggregated by market as this best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Fuel surcharge revenue is included in the individual markets.

Second QuartersSix Months
(Dollars in Millions)
2025202420252024
Chemicals$701 $722 $1,399 $1,415 
Agricultural and Food Products418 406 826 813 
Automotive320 336 591 629 
Forest Products250 269 499 531 
Metals and Equipment224 230 433 450 
Minerals218 207 399 381 
Fertilizers126 126 262 262 
Total Merchandise2,257 2,296 4,409 4,481 
Intermodal491 506 984 1,012 
Coal477 563 938 1,195 
Trucking211 221 413 436 
Other138 115 253 258 
Total$3,574 $3,701 $6,997 $7,382 

The Company’s accounts receivable - net consists of freight and non-freight receivables, reduced by an allowance for credit losses. Freight receivables include amounts earned, billed and unbilled, and currently due from customers for transportation-related services. Non-freight receivables include amounts, billed and unbilled, currently due related to government reimbursement receivables and other non-revenue receivables.
(Dollars in Millions)
June 30,
2025
December 31,
2024
Freight Receivables $1,054 $1,012 
Freight Allowance for Credit Losses(20)(16)
Freight Receivables - Net1,034 996 
Non-Freight Receivables 393 343 
Non-Freight Allowance for Credit Losses(18)(13)
Non-Freight Receivables - Net 375 330 
Total Accounts Receivable - Net$1,409 $1,326 

The Company maintains an allowance for expected credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of risk characteristics, historical payment experience, and the age of outstanding receivables adjusted for forward-looking economic conditions as necessary. Credit losses recognized on the Company’s accounts receivable were not material in the second quarters or six months ended June 30, 2025, or 2024.