Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) was as follows (in millions):

	Years ended December 31,
	2025		2024		2023
Current:
Federal	$	1,150	$	1,050	$	1,192
State	234		202		235
Foreign	—		2		1
Total current	1,384		1,254		1,428
Deferred:
Federal	310		299		174
State	5		64		(75)
Foreign	—		—		—
Total deferred	315		363		99
Total	$	1,699	$	1,617	$	1,527

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the U.S. federal statutory income tax rate to the effective tax rate was as follows:

	Years ended December 31,
	2025				2024				2023
U.S. Federal statutory income tax rate	$	1,507	21.0	%	$	1,396	21.0	%	$	1,389	21.0	%
State and local income tax, net of federal tax benefit a	189		2.7		211		3.2		131		1.9
Nontaxable or nondeductible items	14		0.2		14		0.2		16		0.2
Changes in unrecognized tax benefits	(4)		(0.1)		1		—		(5)		—
Tax credits	(6)		(0.1)		(6)		(0.1)		(4)		—
Foreign tax effects	—		—		2		—		—		—
Tax law change effects	—		—		—		—		—		—
Effects of cross-border tax laws	—		—		—		—		—		—
Changes in valuation allowances	—		—		—		—		—		—
Other, net	(1)		—		(1)		—		—		—
Effective tax rate	$	1,699	23.7	%	$	1,617	24.3	%	$	1,527	23.1	%

a  The following state taxes made up the majority (greater than 50 percent) of the tax effect in this category, in descending order: Montana and Kansas in 2025; Missouri, Illinois, California, Nebraska, and Kansas in 2024; Illinois, Nebraska, California, and New Mexico in 2023.

Schedule of Income Taxes Paid

Income taxes paid, net of refunds were as follows (in millions):

 

	Years ended December 31,
	2025		2024		2023
United States	$	1,145	$	1,128	$	1,150
State	223		224		207
Foreign	—		1		1
Total income taxes paid, net of refunds	$	1,368	$	1,353	$	1,358

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows (in millions):

	December 31, 2025		December 31, 2024
Deferred tax liabilities:
Property and equipment	$	(15,581)	$	(15,346)
Operating lease right-of-use assets	(269)		(243)
Other	(822)		(806)
Total deferred tax liabilities	(16,672)		(16,395)
Deferred tax assets:
Operating lease liabilities	266		239
Compensation and benefits	170		168
Casualty and environmental	97		96
Other	154		196
Total deferred tax assets	687		699
Net deferred tax liability	$	(15,985)	$	(15,696)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	Years ended December 31,
	2025		2024		2023
Beginning balance	$	48	$	47	$	52
Additions for tax positions related to current year	7		8		6
Additions (reductions) for tax positions taken in prior years	(2)		1		(2)
Additions (reductions) for tax positions as a result of:
Lapse of statute of limitations	(9)		(8)		(9)
Ending balance	$	44	$	48	$	47