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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and Cash Equivalents $ 1,223 $ 670
Short-term Investments (Note 9) 382 5
Accounts Receivable - Net (Note 8) 1,485 1,298
Materials and Supplies 401 390
Other Current Assets 142 187
Total Current Assets 3,633 2,550
Properties 54,911 53,816
Accumulated Depreciation (17,769) (17,005)
Properties - Net 37,142 36,811
Investment in Affiliates and Other Companies 2,707 2,634
Right-of-Use Lease Asset 477 464
Goodwill and Other Intangible Assets - Net 258 267
Other Long-term Assets 937 956
Total Assets 45,154 43,682
Current Liabilities:    
Accounts Payable 1,137 1,149
Labor and Fringe Benefits Payable 566 532
Casualty, Environmental and Other Reserves (Note 4) 185 184
Current Maturities of Long-term Debt (Note 7) 1,702 708
Income and Other Taxes Payable 205 118
Interest Payable 245 170
Other Current Liabilities 269 272
Total Current Liabilities 4,309 3,133
Casualty, Environmental and Other Reserves (Note 4) 294 295
Long-term Debt (Note 7) 17,102 18,165
Deferred Income Taxes - Net 8,030 7,914
Long-term Lease Liability 492 479
Other Long-term Liabilities 545 536
Total Liabilities 30,772 30,522
Shareholders' Equity:    
Common Stock, $1 Par Value 1,842 1,860
Other Capital 1,134 948
Retained Earnings 11,608 10,560
Accumulated Other Comprehensive Loss (Note 10) (208) (213)
Non-controlling Minority Interest 6 5
Total Shareholders' Equity 14,382 13,160
Total Liabilities and Shareholders' Equity $ 45,154 $ 43,682