v3.26.1
Segment Reporting
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We manage our company as one reportable operating segment, railway operations, providing rail transportation to customers. Although we provide and analyze revenues by commodity group, the overall financial and operational performance of the railroad is analyzed as one operating segment due to the nature of our integrated rail network.

The chief operating decision maker assesses the performance of the railway operations segment and decides how to allocate resources based on “Net income” that is reported on the Consolidated Statements of Income. The measure
of segment assets is reported on the Consolidated Balance Sheets as “Total assets.” Total expenditures for long-lived assets are disclosed as “Property additions” on the Consolidated Statement of Cash Flows.

Railway operations segment revenues, expenses, and profit are disclosed below as reviewed and used by the chief operating decision maker. There are no other significant segment items or reconciling items to segment profit.

First Quarter
20262025
($ in millions)
Railway operating revenues (Note 3)
$2,998 $2,993 
Railway operating expenses
Compensation and benefits740 739 
Purchased services418 401 
Equipment rents104 97 
Fuel256 244 
Depreciation352 346 
Materials94 100 
Claims53 66 
Other42 39 
Merger-related expenses52 — 
Eastern Ohio incident10 (185)
Total railway operating expenses2,121 1,847 
Income from railway operations877 1,146 
Other income – net35 31 
Interest expense on debt197 199 
Income before income taxes715 978 
Income taxes168 228 
Net income$547 $750