Operating Assets and Facilities (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Operating Assets and Facilities

The following table shows the components of our operating assets and facilities as of December 31 (in millions):

	2025		2024
Railcars and locomotives	$	13,802.1	$	12,702.9
Aircraft spare engines	1,177.5		1,030.4
Tank containers	278.0		241.4
Buildings, leasehold improvements, and other equipment	318.5		265.3
Other	86.5		90.6
	$	15,662.6	$	14,330.6
Less: allowance for depreciation	(4,251.7)		(3,880.9)
Net operating assets and facilities	$	11,410.9	$	10,449.7

The following table shows the components of our total depreciation expense for the years ended December 31 (in millions):

	2025		2024		2023
Operating assets and facilities, included in depreciation expense	$	431.8	$	402.4	$	376.3
Maintenance operating assets and facilities, included in maintenance expense	13.4		11.8		9.3
Depreciation on operating assets and facilities	$	445.2	$	414.2	$	385.6
Non-operating assets, included in SG&A	6.5		6.7		5.9
Total depreciation expense	$	451.7	$	420.9	$	391.5