Property and Equipment, Net

12 Months Ended

Dec. 31, 2025

Property and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net (in millions), and the corresponding ranges of estimated useful lives were as follows:

	December 31, 2025		December 31, 2024		Range of Estimated Useful Life
Land for transportation purposes	$	7,165	$	7,108	—
Track structure	33,823		32,047		18 – 55 years
Other roadway a	35,776		34,938		10 – 100 years
Locomotives	9,938		9,995		8 – 38 years
Freight cars and other equipment	4,044		3,983		8 – 45 years
Computer hardware, software and other	1,790		1,788		6 – 15 years
Construction in progress	2,163		1,813		—
Total cost	94,699		91,672
Less accumulated depreciation and amortization	(22,327)		(20,411)
Property and equipment, net	$	72,372	$	71,261
a  Other roadway includes grading, bridges, signals, buildings and other road assets.

The Consolidated Balance Sheets as of both December 31, 2025 and 2024 included $1.3 billion of capitalized right-of-use fixed assets and related accumulated amortization of $503 million and $475 million, respectively, under other assets.

The Company capitalized $37 million, $37 million and $39 million of interest for the years ended December 31, 2025, 2024 and 2023, respectively.