XML 34 R16.htm IDEA: XBRL DOCUMENT v3.25.3
Revenues
 9 Months Ended
Sep. 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.

Third QuartersNine Months
(Dollars in Millions)
2025202420252024
Chemicals$697 $727 $2,096 $2,142 
Agricultural and Food Products382 416 1,208 1,229 
Automotive306 301 897 930 
Forest Products247 259 746 790 
Minerals226 202 625 583 
Metals and Equipment224 208 657 658 
Fertilizers126 118 388 380 
Total Merchandise2,208 2,231 6,617 6,712 
Intermodal527 509 1,511 1,521 
Coal490 553 1,428 1,748 
Trucking207 214 620 650 
Other155 112 408 370 
Total$3,587 $3,619 $10,584 $11,001 

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)
September 30,
2025		December 31,
2024
Freight Receivables $1,024 $1,012 
Freight Allowance for Credit Losses(19)(16)
Freight Receivables - Net1,005 996 
Non-Freight Receivables 381 343 
Non-Freight Allowance for Credit Losses(16)(13)
Non-Freight Receivables - Net 365 330 
Total Accounts Receivable - Net$1,370 $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 third quarters or nine months ended September 30, 2025, or 2024.