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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and Cash Equivalents $ 670 $ 933
Short-term Investments 5 72
Accounts Receivable - Net (Note 11) 1,298 1,326
Materials and Supplies 390 414
Other Current Assets 187 75
Total Current Assets 2,550 2,820
Properties 53,816 52,191
Accumulated Depreciation (17,005) (16,533)
Properties - Net (Note 6) 36,811 35,658
Investment in Affiliates and Other Companies (Note 15) 2,634 2,520
Right of Use Lease Asset (Note 7) 464 487
Goodwill and Other Intangible Assets - Net (Note 18) 267 433
Other Long-term Assets 956 846
Total Assets 43,682 42,764
Current Liabilities:    
Accounts Payable 1,149 1,118
Labor and Fringe Benefits Payable 532 480
Casualty, Environmental and Other Reserves (Note 5) 184 149
Current Maturities of Long-term Debt (Note 10) 708 606
Income and Other Taxes Payable 118 508
Interest Payable 170 172
Other Current Liabilities 272 243
Total Current Liabilities 3,133 3,276
Casualty, Environmental and Other Reserves (Note 5) 295 313
Long-term Debt (Note 10) 18,165 17,897
Deferred Income Taxes - Net (Note 12) 7,914 7,725
Long-term Lease Liability (Note 7) 479 486
Other Long-term Liabilities 536 560
Total Liabilities 30,522 30,257
Shareholders' Equity:    
Common Stock, $1 Par Value (Note 3) 1,860 1,900
Other Capital 948 846
Retained Earnings 10,560 9,988
Accumulated Other Comprehensive Loss (Note 16) (213) (232)
Non-controlling Minority Interest 5 5
Total Shareholders' Equity 13,160 12,507
Total Liabilities and Shareholders' Equity $ 43,682 $ 42,764