Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

Revenue from Contracts with Customers

The Company disaggregates revenue from contracts with customers based on the characteristics of the services provided and the types of products transported (in millions):

	Three Months Ended March 31,
	2025		2024
Consumer Products	$	2,033	$	1,970
Agricultural and Energy Products a	1,565		1,552
Industrial Products a	1,199		1,240
Coal	734		765
Total freight revenues	5,531		5,527
Non-rail logistics subsidiary	18		16
Accessorial and other	144		117
Total other revenues	162		133
Total operating revenues	$	5,693	$	5,660

a Prior year numbers have been recast to conform to the current year presentation based on internal reorganization of business groups.

Contract assets and liabilities are immaterial. Receivables from contracts with customers is a component of accounts receivable, net on the Consolidated Balance Sheets. As of March 31, 2025 and December 31, 2024, $1.2 billion and $1.1 billion, respectively, represented net receivables from contracts with customers.

Remaining performance obligations primarily consist of in-transit freight revenues, which will be recognized in the next reporting period. As of March 31, 2025 and December 31, 2024, remaining performance obligations were $294 million and $308 million, respectively.