Union Pacific (UNP) 10-K 10 Feb 23 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 03, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0000100885
Entity Registrant Name	UNION PACIFIC CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-6075
Entity Incorporation, State or Country Code	UT
Entity Tax Identification Number	13-2626465
Entity Address, Address Line One	1400 Douglas Street
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68179
City Area Code	402
Local Phone Number	544-5000
Title of 12(b) Security	Common Stock (Par Value $2.50 per share)
Trading Symbol	UNP
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 131,500,000,000
Entity Common Stock, Shares Outstanding		611,872,981
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Omaha, Nebraska

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating revenues:
Operating revenues	$ 24,875	$ 21,804	$ 19,533
Operating expenses:
Compensation and benefits	4,645	4,158	3,993
Fuel	3,439	2,049	1,314
Purchased services and materials	2,442	2,016	1,962
Depreciation	2,246	2,208	2,210
Equipment and other rents	898	859	875
Other	1,288	1,176	1,345
Total operating expenses	14,958	12,466	11,699
Operating income	9,917	9,338	7,834
Other income, net (Note 6)	426	297	287
Interest expense	(1,271)	(1,157)	(1,141)
Income before income taxes	9,072	8,478	6,980
Income tax expense (Note 7)	(2,074)	(1,955)	(1,631)
Net income	$ 6,998	$ 6,523	$ 5,349
Share and Per Share (Note 8):
Earnings per share - basic (in dollars per share)	$ 11.24	$ 9.98	$ 7.90
Earnings per share - diluted (in dollars per share)	$ 11.21	$ 9.95	$ 7.88
Weighted average number of shares - basic (in shares)	622.7	653.8	677.3
Weighted average number of shares - diluted (in shares)	624	655.4	679.1
Cargo and Freight [Member]
Operating revenues:
Operating revenues	$ 23,159	$ 20,244	$ 18,251
Product and Service, Other [Member]
Operating revenues:
Operating revenues	$ 1,716	$ 1,560	$ 1,282

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income		$ 6,998	$ 6,523	$ 5,349
Other comprehensive income/(loss):
Defined benefit plans		280	723	(231)
Foreign currency translation		52	(44)	(6)
Total other comprehensive income/(loss)	[1]	332	679	(237)
Comprehensive income		$ 7,330	$ 7,202	$ 5,112
[1]Net of deferred taxes of ($92) million, ($237) million, and $75 million during 2022, 2021, and 2020, respectively.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total other comprehensive income/(loss), tax	$ (92)	$ (237)

Consolidated Statements Of Fina

Consolidated Statements Of Financial Position - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 973	$ 960
Short-term investments (Note 13)	46	46
Accounts receivable, net (Note 10)	1,891	1,722
Materials and supplies	741	621
Other current assets	301	202
Total current assets	3,952	3,551
Investments	2,375	2,241
Properties, net (Note 11)	56,038	54,871
Operating lease assets (Note 16)	1,672	1,787
Other assets	1,412	1,075
Total assets	65,449	63,525
Current liabilities:
Accounts payable and other current liabilities (Note 12)	3,842	3,578
Debt due within one year (Note 14)	1,678	2,166
Total current liabilities	5,520	5,744
Debt due after one year (Note 14)	31,648	27,563
Operating lease liabilities (Note 16)	1,300	1,429
Deferred income taxes (Note 7)	13,033	12,675
Other long-term liabilities	1,785	1,953
Commitments and contingencies (Note 17)
Total liabilities	53,286	49,364
Common shareholders' equity:
Common shares, $2.50 par value, 1,400,000,000 authorized; 1,112,623,886 and 1,112,440,400 issued; 612,393,321 and 638,841,656 outstanding, respectively	2,782	2,781
Paid-in-surplus	5,080	4,979
Retained earnings	58,887	55,049
Treasury stock	(54,004)	(47,734)
Accumulated other comprehensive loss (Note 9)	(582)	(914)
Total common shareholders' equity	12,163	14,161
Total liabilities and common shareholders' equity	$ 65,449	$ 63,525

Consolidated Statements Of Fi_2

Consolidated Statements Of Financial Position (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common shares, par value (in dollars per share)	$ 2.50	$ 2.50
Common stock, authorized (in shares)	1,400,000,000	1,400,000,000
Common shares issued (in shares)	1,112,623,886	1,112,440,400
Common shares outstanding (in shares)	612,393,321	638,841,656

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net income	$ 6,998	$ 6,523	$ 5,349
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	2,246	2,208	2,210
Deferred and other income taxes	262	154	340
Gain on non-operating asset dispositions	(176)	(98)	(115)
Other operating activities, net	24	42	490
Changes in current assets and liabilities:
Accounts receivable, net	(169)	(217)	90
Materials and supplies	(120)	17	113
Other current assets	5	31	(34)
Accounts payable and other current liabilities	565	184	(73)
Income and other taxes	(273)	188	170
Cash provided by operating activities	9,362	9,032	8,540
Investing Activities
Capital investments	(3,620)	(2,936)	(2,927)
Proceeds from asset sales	194	178	149
Maturities of short-term investments (Note 13)	46	94	141
Purchases of short-term investments (Note 13)	(46)	(70)	(136)
Other investing activities, net	(45)	25	97
Cash used in investing activities	(3,471)	(2,709)	(2,676)
Financing Activities
Share repurchase programs (Note 18)	(6,282)	(7,291)	(3,705)
Debt issued (Note 14)	6,080	4,201	4,004
Dividends paid	(3,159)	(2,800)	(2,626)
Debt repaid	(2,291)	(1,299)	(2,053)
Net issued/(paid) commercial paper (Note 14)	(205)	325	(127)
Debt exchange (Note 14)	0	(270)	(328)
Other financing activities, net	(30)	(24)	(67)
Cash used in financing activities	(5,887)	(7,158)	(4,902)
Net change in cash, cash equivalents, and restricted cash	4	(835)	962
Cash, cash equivalents, and restricted cash at beginning of year	983	1,818	856
Cash, cash equivalents, and restricted cash at end of year	987	983	1,818
Non-cash investing and financing activities:
Capital investments accrued but not yet paid	152	263	166
Term loan renewals (Note 14)	0	100	250
Cash paid during the year for:
Income taxes, net of refunds	(2,060)	(1,658)	(1,214)
Interest, net of amounts capitalized	$ (1,156)	$ (1,087)	$ (1,050)

Consolidated Statements of Chan

Consolidated Statements of Changes in Common Shareholders' Equity - USD ($) $ in Millions	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	[1]	Total
Balance (in shares) at Dec. 31, 2019	1,112,000,000	(419,900,000)
Balance at Dec. 31, 2019	$ 2,780	$ (36,424)	$ 4,523	$ 48,605	$ (1,356)		$ 18,128
Net income	0	0	0	5,349	0		5,349
Other comprehensive income/(loss)	$ 0	$ 0	0	0	(237)		(237)	[2]
Conversion, stock option exercises, forfeitures, ESPP, and other (in shares)	200,000	1,100,000
Conversion, stock option exercises, forfeitures, ESPP, and other	$ 1	$ 19	31	0	0		51
Share repurchase programs (Note 18) (in shares)	0	(22,100,000)
Share repurchase programs (Note 18)	$ 0	$ (4,015)	310	0	0		(3,705)
Cash dividends declared	$ 0	$ 0	0	(2,628)	0		(2,628)
Balance (in shares) at Dec. 31, 2020	1,112,200,000	(440,900,000)
Balance at Dec. 31, 2020	$ 2,781	$ (40,420)	4,864	51,326	(1,593)		16,958
Net income	0	0	0	6,523	0		6,523
Other comprehensive income/(loss)	$ 0	$ 0	0	0	679		679	[2]
Conversion, stock option exercises, forfeitures, ESPP, and other (in shares)	200,000	600,000
Conversion, stock option exercises, forfeitures, ESPP, and other	$ 0	$ 1	91	0	0		$ 92
Share repurchase programs (Note 18) (in shares)	0	(33,300,000)					(33,337,620)
Share repurchase programs (Note 18)	$ 0	$ (7,315)	24	0	0		$ (7,291)
Cash dividends declared	$ 0	$ 0	0	(2,800)	0		(2,800)
Balance (in shares) at Dec. 31, 2021	1,112,400,000	(473,600,000)
Balance at Dec. 31, 2021	$ 2,781	$ (47,734)	4,979	55,049	(914)		14,161
Net income	0	0	0	6,998	0		6,998
Other comprehensive income/(loss)	$ 0	$ 0	0	0	332		332	[2]
Conversion, stock option exercises, forfeitures, ESPP, and other (in shares)	200,000	500,000
Conversion, stock option exercises, forfeitures, ESPP, and other	$ 1	$ 0	113	0	0		$ 114
Share repurchase programs (Note 18) (in shares)	0	(27,100,000)					(27,106,890)
Share repurchase programs (Note 18)	$ 0	$ (6,270)	(12)	0	0		$ (6,282)
Cash dividends declared	$ 0	$ 0	0	(3,160)	0		(3,160)
Balance (in shares) at Dec. 31, 2022	1,112,600,000	(500,200,000)
Balance at Dec. 31, 2022	$ 2,782	$ (54,004)	$ 5,080	$ 58,887	$ (582)		$ 12,163
[1]AOCI = Accumulated Other Comprehensive Income/Loss (Note 9)[2]Net of deferred taxes of ($92) million, ($237) million, and $75 million during 2022, 2021, and 2020, respectively.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Common Shareholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividends per share (in dollars per share)	$ 5.08	$ 4.29	$ 3.88

Note 1 - Nature of Operations

Note 1 - Nature of Operations	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Nature of Operations [Text Block]	1. Operations and Segmentation two The Railroad, along with its subsidiaries and rail affiliates, is our one one Millions 2022 2021 2020 Bulk $ 7,537 $ 6,656 $ 5,960 Industrial 8,205 7,323 6,622 Premium 7,417 6,265 5,669 Total freight revenues $ 23,159 $ 20,244 $ 18,251 Other subsidiary revenues 884 741 743 Accessorial revenues 779 752 473 Other 53 67 66 Total operating revenues $ 24,875 $ 21,804 $ 19,533 Although our revenues are principally derived from customers domiciled in the U.S., the ultimate points of origination or destination for some products we transport are outside the U.S. Each of our commodity groups includes revenues from shipments to and from Mexico. Included in the above table are freight revenues from our Mexico business which amounted to $2.7 billion in 2022 2021 2020 Basis of Presentation

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Principles of Consolidation 20% 50% no Cash, Cash Equivalents, and Restricted Cash three The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Statements of Financial Position that sum to the total of the same such amounts shown on the Consolidated Statements of Cash Flows: Millions 2022 2021 2020 Cash and cash equivalents $ 973 $ 960 $ 1,799 Restricted cash equivalents in other current assets 10 19 7 Restricted cash equivalents in other assets 4 4 12 Total cash, cash equivalents, and restricted cash equivalents $ 987 $ 983 $ 1,818 Accounts Receivable not one Investments 20% 50% 20% not not Materials and Supplies Property and Depreciation not no Impairment of Long-lived Assets may not Revenue Recognition We recognize freight revenues over time as freight moves from origin to destination. The allocation of revenues between reporting periods is based on the relative transit time in each reporting period with expenses recognized as incurred. Outstanding performance obligations related to freight moves in transit totaled $194 million at December 31, 2022 December 31, 2021 may Under typical payment terms, our customers pay us after each performance obligation is satisfied and there are no Freight revenues related to interline transportation services that involve other railroads are reported on a net basis. The portion of the gross amount billed to customers that is remitted by the Company to another party is not Other revenues consist primarily of revenues earned by our other subsidiaries (primarily logistics and commuter rail operations) and accessorial revenues. Other subsidiary revenues are generally recognized over time as shipments move from origin to destination. The allocation of revenues between reporting periods is based on the relative transit time in each reporting period with expenses recognized as incurred. Accessorial revenues are recognized at a point in time as performance obligations are satisfied. Translation of Foreign Currency Fair Value Measurements three Level 1: Level 2: Level 3: not We have applied fair value measurements to our short-term investments, certain equity investments, pension plan assets, and short- and long-term debt. Stock-Based Compensation We measure and recognize compensation expense for all stock-based awards made to employees, including stock options and ESPP awards. Compensation expense is based on the fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards (generally the vesting period). The fair value of retention awards is the closing stock price on the date of grant, the fair value of stock options is determined by using the Black-Scholes option pricing model, and the fair value of ESPP awards is based on the Company contribution match. Earnings Per Share Income Taxes not not When appropriate, we record a valuation allowance against deferred tax assets to reflect that these tax assets may not not not We recognize tax benefits that are more likely than not 50 not Leases not may one one We have lease agreements with lease and non-lease components, and we have elected to not 12 not 12 Pension Benefits Personal Injury not Environmental not not Use of Estimates may

Note 3 - Accounting Pronounceme

Note 3 - Accounting Pronouncements	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	3. In November 2021, No. 2021 10, Government Assistance (Topic 832 January 1, 2022, no In March 2020, 2020 04, Reference Rate Reform (Topic 848 December 2022, 2022 06, Reference Rate Reform (Topic 848 848, March 12, 2020, no December 31, 2024, not

Note 4 - Stock Options and Othe

Note 4 - Stock Options and Other Stock Plans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	4. In April 2000, 2000 July 2018, 2018 December 31, 2022 The Union Pacific Corporation 2004 2004 April 2004. 2004 April 16, 2004, 2004 2004 may not 2004 December 31, 2022 2004 no The Union Pacific Corporation 2013 2013 May 2013. 2013 February 28, 2013, not 2013 may not 2013 December 31, 2022 2013 no The Union Pacific Corporation 2021 2021 May 2021. 2021 23,000,000 December 31, 2020, not 2021 may not 2021 December 31, 2022 2021 The Union Pacific Corporation 2021 2021 May 2021. 2021 2021 may not 2021 December 31, 2022 2021 Pursuant to the above plans 33,185,971 34,011,624; 69,867,405; December 31, 2022, 2021, 2020 Stock-Based Compensation Information regarding stock-based compensation appears in the table below: Millions 2022 2021 2020 Stock-based compensation, before tax: Stock options $ 14 $ 15 $ 15 Retention awards 68 66 58 ESPP 17 7 - Total stock-based compensation, before tax $ 99 $ 88 $ 73 Excess income tax benefits from equity compensation plans $ 21 $ 26 $ 55 Stock Options no None December 31, 2022 The table below shows the annual weighted-average assumptions used for Black-Scholes valuation purposes: Weighted-Average Assumptions 2022 2021 2020 Risk-free interest rate 1.6 % 0.4 % 1.5 % Dividend yield 1.9 % 1.9 % 2.1 % Expected life (years) 4.4 4.6 4.9 Volatility 28.7 % 28.3 % 23.4 % Weighted-average grant-date fair value of options granted $ 51.92 $ 39.97 $ 32.20 The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant; the expected dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of grant; the expected life is based on historical and expected exercise behavior; and expected volatility is based on the historical volatility of our stock price over the expected life of the stock option. A summary of stock option activity during 2022 Options (thous.) Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (yrs.) Aggregate Intrinsic Value (millions) Outstanding at January 1, 2022 2,106 $ 149.84 6.3 $ 215 Granted 328 244.35 N/A N/A Exercised (421 ) 124.60 N/A N/A Forfeited or expired (39 ) 214.72 N/A N/A Outstanding at December 31, 2022 1,974 $ 169.64 6.0 $ 86 Vested or expected to vest at December 31, 2022 1,954 $ 169.12 6.0 $ 85 Options exercisable at December 31, 2022 1,308 $ 144.09 4.9 $ 82 At December 31, 2022 Millions 2022 2021 2020 Intrinsic value of stock options exercised $ 53 $ 84 $ 120 Cash received from option exercises 27 58 95 Treasury shares repurchased for employee payroll taxes (8 ) (15 ) (24 ) Income tax benefit realized from option exercises 8 16 28 Aggregate grant-date fair value of stock options vested 13 14 15 Retention Awards no Changes in our retention awards during 2022 Shares (thous.) Weighted-Average Grant-Date Fair Value Nonvested at January 1, 2022 1,287 $ 165.10 Granted 252 241.37 Vested (410 ) 126.26 Forfeited (60 ) 191.98 Nonvested at December 31, 2022 1,069 $ 196.47 At December 31, 2022 Performance Retention Awards February 2022 February 2021 100 The February 2022 three two 3 third one third three The February 2020 February 2022 500 Changes in our performance retention awards during 2022 Shares (thous.) Weighted-Average Grant-Date Fair Value Nonvested at January 1, 2022 641 $ 173.03 Granted 209 244.35 Vested (56 ) 162.64 Unearned (163 ) 161.57 Forfeited (37 ) 211.96 Nonvested at December 31, 2022 594 $ 199.82 At December 31, 2022 Employee Stock Purchase Plan July 2021.

Note 5 - Retirement Plans

Note 5 - Retirement Plans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	5. Pension Benefits We provide defined benefit retirement income to eligible non-union employees through qualified and non-qualified (supplemental) pension plans. Qualified and non-qualified pension benefits are based on years of service and the highest compensation during the latest years of employment, with specific reductions made for early retirements. Non-union employees hired on or after January 1, 2018, no 401 Funded Status We are required by GAAP to separately recognize the overfunded or underfunded status of our pension plans as an asset or liability. The funded status represents the difference between the projected benefit obligation (PBO) and the fair value of the plan assets. Our non-qualified (supplemental) pension plan is unfunded by design. The PBO of the pension plans is the present value of benefits earned to date by plan participants, including the effect of assumed future compensation increases. Plan assets are measured at fair value. We use a December 31 Changes in our PBO and plan assets were as follows for the years ended December 31: Funded Status Millions 2022 2021 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 5,296 $ 5,658 Service cost 93 110 Interest cost 123 104 Actuarial (gain)/loss (1,557 ) (346 ) Gross benefits paid (230 ) (230 ) Projected benefit obligation at end of year $ 3,725 $ 5,296 Plan Assets Fair value of plan assets at beginning of year $ 5,554 $ 5,016 Actual (loss)/return on plan assets (992 ) 737 Non-qualified plan benefit contributions 31 31 Gross benefits paid (230 ) (230 ) Fair value of plan assets at end of year $ 4,363 $ 5,554 Funded status at end of year $ 638 $ 258 Actuarial gains that decreased the PBO were driven by an increase in 2022 discount rates from 2.80 Amounts recognized in the statement of financial position as of December 31, 2022 2021 Millions 2022 2021 Noncurrent assets $ 1,033 $ 807 Current liabilities (31 ) (31 ) Noncurrent liabilities (364 ) (518 ) Net amounts recognized at end of year $ 638 $ 258 Pre-tax amounts recognized in accumulated other comprehensive income/loss consist of $493 million and $851 million net actuarial loss as of December 31, 2022 2021 Pre-tax changes recognized in other comprehensive income/loss as of December 31, 2022 2021 2020 Millions 2022 2021 2020 Net actuarial (loss)/gain $ 272 $ 813 $ (408 ) Amortization of: Actuarial loss 86 141 104 Total $ 358 $ 954 $ (304 ) Underfunded Accumulated Benefit Obligation no The following table discloses only the PBO, ABO, and fair value of plan assets for pension plans where the accumulated benefit obligation is in excess of the fair value of the plan assets as of December 31: Underfunded Accumulated Benefit Obligation Millions 2022 2021 Projected benefit obligation $ 394 $ 549 Accumulated benefit obligation $ 382 $ 513 Fair value of plan assets - - Underfunded accumulated benefit obligation $ (382 ) $ (513 ) The ABO for all defined benefit pension plans was $ 3.5 December 31, 2022 2021 Assumptions December 31: Percentages 2022 2021 Discount rate 5.21 % 2.80 % Compensation increase 4.10 % 4.30 % Expense Pension expense is determined based upon the annual service cost of benefits (the actuarial cost of benefits earned during a period) and the interest cost on those liabilities, less the expected return on plan assets. The expected long-term rate of return on plan assets is applied to a calculated value of plan assets that recognizes changes in fair value over a 5-year period. This practice is intended to reduce year-to-year volatility in pension expense, but it can have the effect of delaying the recognition of differences between actual returns on assets and expected returns based on long-term rate of return assumptions. Differences in actual experience in relation to assumptions are not The components of our net periodic pension benefit/cost were as follows for the years ended December 31: Millions 2022 2021 2020 Net Periodic Pension Cost: Service cost $ 93 $ 110 $ 91 Interest cost 123 104 137 Expected return on plan assets (293 ) (270 ) (282 ) Amortization of: Actuarial loss 86 141 104 Net periodic pension cost $ 9 $ 85 $ 50 Assumptions Percentages 2022 2021 2020 Discount rate for benefit obligations 2.80 % 2.42 % 3.26 % Discount rate for interest on benefit obligations 2.40 % 1.90 % 2.89 % Discount rate for service cost 2.91 % 2.61 % 3.42 % Discount rate for interest on service cost 2.86 % 2.53 % 3.36 % Expected return on plan assets 6.25 % 6.25 % 7.00 % Compensation increase 4.10 % 4.40 % 4.10 % We measure the service cost and interest cost components of our net periodic pension benefit/cost by using individual spot discount rates matched with separate cash flows for each future year. The discount rates were based on a yield curve of high-quality corporate bonds. The expected return on plan assets is based on our asset allocation mix and our historical return, taking into account current and expected market conditions. The actual return/(loss) on pension plan assets, net of fees, was approximately (18 %) 2022 2021 2020 Cash Contributions The following table details cash contributions, if any, for the qualified and non-qualified (supplemental) pension plans: Millions Qualified Non-qualified 2022 $ - $ 31 2021 - 31 Our policy with respect to funding the qualified pension plans is to fund at least the minimum required by law and not The non-qualified pension plans are not not 2023 Benefit Payments The following table details expected benefit payments for the years 2023 2032: Millions 2023 $ 230 2024 228 2025 227 2026 228 2027 229 Years 2028 - 2032 1,172 Asset Allocation Strategy Our pension plan asset allocation at December 31, 2022 2021 2023 Percentage of Plan Assets Target December 31, Allocation 2023 2022 2021 Equity securities 20% to 30% 48 % 57 % Debt securities 70% to 80% 51 42 Real estate 0% to 2% 1 1 Total 100 % 100 % The pension plan investments are held in a master trust. The investment strategy for pension plan assets is to maintain a broadly diversified portfolio designed to achieve our target average long-term rate of return of 5.25%. While we believe we can achieve a long-term average rate of return of 5.25%, we cannot be certain that the portfolio will perform to our expectations. Assets are strategically allocated among equity, debt, and other investments in order to achieve a diversification level that reduces fluctuations in investment returns. Asset allocation target ranges for equity, debt, and other portfolios are evaluated at least every three Since 2020, 2023. A+ December 31, 2022 2021 21 December 31, 2022 2021 The investment of pension plan assets in securities issued by UPC is explicitly prohibited by the plan for both the equity and debt portfolios, other than through index fund holdings. Fair Value Measurements The pension plan assets are valued at fair value. The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. Temporary Cash Investments 1 Registered Investment Companies 1 not Federal Government Securities 2 Bonds and Debentures 2 Corporate Stock 1 2 Venture Capital and Buyout Partnerships not Real Estate Funds not Collective Trust and Other Funds not As of December 31, 2022 Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Inputs Inputs Inputs Millions (Level 1) (Level 2) (Level 3) Total Plan assets at fair value: Temporary cash investments $ 1 $ - $ - $ 1 Registered investment companies [a] 6 - - 6 Federal government securities - 803 - 803 Bonds and debentures - 1,069 - 1,069 Corporate stock 1,104 7 - 1,111 Total plan assets at fair value $ 1,111 $ 1,879 $ - $ 2,990 Plan assets at NAV: Registered investment companies [b] 68 Venture capital and buyout partnerships 611 Real estate funds 37 Collective trust and other funds 622 Total plan assets at NAV $ 1,338 Other assets/(liabilities) [c] 35 Total plan assets $ 4,363 As of December 31, 2021 Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Inputs Inputs Inputs Millions (Level 1) (Level 2) (Level 3) Total Plan assets at fair value: Temporary cash investments $ 9 $ - $ - $ 9 Registered investment companies [a] 10 - - 10 Federal government securities - 742 - 742 Bonds and debentures - 1,116 - 1,116 Corporate stock 1,980 10 - 1,990 Total plan assets at fair value $ 1,999 $ 1,868 $ - $ 3,867 Plan assets at NAV: Registered investment companies [b] 185 Venture capital and buyout partnerships 710 Real estate funds 48 Collective trust and other funds 756 Total plan assets at NAV $ 1,699 Other assets/(liabilities) [c] (12 ) Total plan assets $ 5,554 [a] Registered investment companies measured at fair value are stock investments. [b] Registered investment companies measured at NAV include bond investments. [c] Includes accrued receivables, net payables, and pending broker settlements. The master trust’s investments in limited partnerships and similar structures (used to invest in private equity and real estate) are valued at fair value based on their proportionate share of the partnerships’ fair value as recorded in the limited partnerships’ audited financial statements. The limited partnerships allocate gains, losses, and expenses to the partners based on the ownership percentage as described in the partnership agreements. At December 31, 2022 2021 Other Retirement Programs Other Postretirement Benefits January 1, 2004. $134 December 31, 2022 2021 2022 2021 2020 401 January 1, 2018, 401 first January 1, 2018, first 2022 2021 2020 Railroad Retirement System 2022 2021 2020 Collective Bargaining Agreements 2022 2021 2020

Note 6 - Other Income

Note 6 - Other Income	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	6. Other income included the following for the years ended December 31: Millions 2022 2021 2020 Real estate income [a] [b] $ 381 $ 263 $ 264 Net periodic pension benefit/(costs) 84 25 41 Environmental remediation and restoration (47 ) (17 ) (30 ) Gain from sale of investment - 36 - Other [a] 8 (10 ) 12 Total $ 426 $ 297 $ 287 [a] Prior periods have been reclassified to conform to the current period disclosure. [b] 2022 2021 2020

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. Components of income tax expense were as follows for the years ended December 31: Millions 2022 2021 2020 Current tax expense: Federal $ 1,465 $ 1,446 $ 1,026 State 340 347 259 Foreign 7 8 6 Total current tax expense 1,812 1,801 1,291 Deferred and other tax expense/(benefit): Federal 320 199 295 State [a] (59 ) (44 ) 45 Foreign 1 (1 ) - Total deferred and other tax expense 262 154 340 Total income tax expense $ 2,074 $ 1,955 $ 1,631 [a] In 2022, 2021, For the years ended December 31, Tax Rate Percentages 2022 2021 2020 Federal statutory tax rate 21.0 % 21.0 % 21.0 % State statutory rates, net of federal benefits 3.6 3.7 3.7 Deferred tax adjustments (1.0 ) (0.6 ) (0.1 ) Dividends received deduction (0.5 ) (0.5 ) (0.5 ) Excess tax benefits from equity compensation plans (0.2 ) (0.3 ) (0.8 ) Other - (0.2 ) 0.1 Effective tax rate 22.9 % 23.1 % 23.4 % Deferred income tax assets/(liabilities) were comprised of the following at December 31: Millions 2022 2021 Deferred income tax liabilities: Property $ (12,910 ) $ (12,657 ) Operating lease assets (411 ) (441 ) Other (591 ) (534 ) Total deferred income tax liabilities (13,912 ) (13,632 ) Deferred income tax assets: Operating lease liabilities 401 434 Accrued casualty costs 164 157 Accrued wages 50 45 Stock compensation 26 26 Retiree benefits - 39 Other 238 256 Total deferred income tax assets 879 957 Net deferred income tax liability $ (13,033 ) $ (12,675 ) In 2022 2021 A reconciliation of changes in unrecognized tax benefits liabilities/(assets) from the beginning to the end of the reporting period is as follows: Millions 2022 2021 2020 Unrecognized tax benefits at January 1 $ 38 $ 74 $ 64 Decreases for positions taken in prior years (4 ) (24 ) (19 ) Increases for positions taken in current year 3 3 18 Lapse of statutes of limitations (3 ) (1 ) (1 ) Refunds from/(payments to) and settlements with taxing authorities - (12 ) - Increases/(decreases) for interest and penalties - (3 ) 5 Increases for positions taken in prior years - 1 7 Unrecognized tax benefits at December 31 $ 34 $ 38 $ 74 We recognize interest and penalties as part of income tax expense. Total accrued liabilities/(receivables) for interest and penalties were ($3) million and ($1) million at December 31, 2022 2021 2022 2021 2020 Several state tax authorities are examining our state income tax returns for years 2018 2021. We do not 12 2022 2021 2020

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	8. The following table provides a reconciliation between basic and diluted earnings per share for the years ended December 31: Millions, Except Per Share Amounts 2022 2021 2020 Net income $ 6,998 $ 6,523 $ 5,349 Weighted-average number of shares outstanding: Basic 622.7 653.8 677.3 Dilutive effect of stock options 0.6 0.8 0.8 Dilutive effect of retention shares and units 0.7 0.8 1.0 Diluted 624.0 655.4 679.1 Earnings per share – basic $ 11.24 $ 9.98 $ 7.90 Earnings per share – diluted $ 11.21 $ 9.95 $ 7.88 Common stock options totaling 0.3 million, 0.2 million, and 0.3 million for 2022 2021 2020

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Income Loss	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	9. Reclassifications out of accumulated other comprehensive income/loss were as follows (net of tax): Millions Defined benefit plans Foreign currency translation Total Balance at January 1, 2022 $ (658 ) $ (256 ) $ (914 ) Other comprehensive income/(loss) before reclassifications - 52 52 Amounts reclassified from accumulated other comprehensive income/(loss) [a] 280 - 280 Net year-to-date other comprehensive income/(loss), net of taxes of ($ 92 280 52 332 Balance at December 31, 2022 $ (378 ) $ (204 ) $ (582 ) Balance at January 1, 2021 $ (1,381 ) $ (212 ) $ (1,593 ) Other comprehensive income/(loss) before reclassifications - (44 ) (44 ) Amounts reclassified from accumulated other comprehensive income/(loss) [a] 723 - 723 Net year-to-date other comprehensive income/(loss), net of taxes of ($ 237 723 (44 ) 679 Balance at December 31, 2021 $ (658 ) $ (256 ) $ (914 ) [a] The accumulated other comprehensive income/loss reclassification components are 1 2 5

Note 10 - Accounts Receivable

Note 10 - Accounts Receivable	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	10. Accounts receivable includes freight and other receivables reduced by an allowance for doubtful accounts. At both December 31, 2022 2021 not one December 31, 2022 2021 51 million, respectively. Receivables Securitization Facility July 29, 2022, July 2025 third may no not The amount recorded under the Receivables Facility was $100 million and $300 million at December 31, 2022 2021 December 31, 2022 2021 The outstanding amount the Railroad maintains under the Receivables Facility may one not The costs of the Receivables Facility include interest, which will vary based on prevailing benchmark and commercial paper rates, program fees paid to participating banks, commercial paper issuance costs, and fees of participating banks for unused commitment availability. The costs of the Receivables Facility are included in interest expense and were $10 million, $4 million, and $7 million for 2022 2021 2020

Note 11 - Properties

Note 11 - Properties	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	11. The following tables list the major categories of property and equipment as well as the weighted-average estimated useful life for each category (in years): Millions, Except Estimated Useful Life Accumulated Net Book Estimated As of December 31, 2022 Cost Depreciation Value Useful Life Land $ 5,344 $ N/A $ 5,344 N/A Road: Rail and other track material 18,419 7,096 11,323 43 Ties 11,676 3,699 7,977 34 Ballast 6,222 1,950 4,272 34 Other roadway [a] 22,411 4,970 17,441 47 Total road 58,728 17,715 41,013 N/A Equipment: Locomotives 9,166 3,606 5,560 18 Freight cars 2,562 898 1,664 23 Work equipment and other 1,253 473 780 17 Total equipment 12,981 4,977 8,004 N/A Technology and other 1,254 525 729 12 Construction in progress 948 - 948 N/A Total $ 79,255 $ 23,217 $ 56,038 N/A Millions, Except Estimated Useful Life Accumulated Net Book Estimated As of December 31, 2021 Cost Depreciation Value Useful Life Land $ 5,339 $ N/A $ 5,339 N/A Road: Rail and other track material 17,980 6,844 11,136 44 Ties 11,364 3,516 7,848 34 Ballast 6,070 1,852 4,218 34 Other roadway [a] 21,593 4,657 16,936 47 Total road 57,007 16,869 40,138 N/A Equipment: Locomotives 9,371 3,779 5,592 17 Freight cars 2,227 822 1,405 24 Work equipment and other 1,161 411 750 18 Total equipment 12,759 5,012 7,747 N/A Technology and other 1,209 523 686 12 Construction in progress 961 - 961 N/A Total $ 77,275 $ 22,404 $ 54,871 N/A [a] Other roadway includes grading, bridges and tunnels, signals, buildings, and other road assets. Property and Depreciation may We determine the estimated service lives of depreciable railroad assets by means of depreciation studies. We perform depreciation studies at least every 3 ● Statistical analysis of historical patterns of use and retirements of each of our asset classes, ● Evaluation of any expected changes in current operations and the outlook for continued use of the assets, ● Evaluation of technological advances and changes to maintenance practices, and ● Expected salvage to be received upon retirement. For rail in high-density traffic corridors, we measure estimated service lives in millions of gross tons per mile of track. It has been our experience that the lives of rail in high-density traffic corridors are closely correlated to usage (i.e., the amount of weight carried over the rail). The service lives also vary based on rail weight, rail condition (e.g., new or secondhand), and rail type (e.g., straight or curve). Our depreciation studies for rail in high-density traffic corridors consider each of these factors in determining the estimated service lives. For rail in high-density traffic corridors, we calculate depreciation rates annually by dividing the number of gross ton-miles carried over the rail (i.e., the weight of loaded and empty freight cars, locomotives, and maintenance of way equipment transported over the rail) by the estimated service lives of the rail measured in millions of gross tons per mile. For all other depreciable assets, we compute depreciation based on the estimated service lives of our assets as determined from the analysis of our depreciation studies. Changes in the estimated service lives of our assets and their related depreciation rates are implemented prospectively. Under the group method of depreciation, the historical cost (net of salvage) of depreciable property that is retired or replaced in the ordinary course of business is charged to accumulated depreciation and no For retirements of depreciable railroad properties that do not may three not We review construction in progress assets that have not may not When we purchase an asset, we capitalize all costs necessary to make the asset ready for its intended use. However, many of our assets are self-constructed. A large portion of our capital expenditures is for replacement of existing track assets and other road properties, which is typically performed by our employees, and for track line expansion and other capacity projects. Costs that are directly attributable to capital projects (including overhead costs) are capitalized. Direct costs that are capitalized as part of self-constructed assets include material, labor, and work equipment. Indirect costs are capitalized if they clearly relate to the construction of the asset. Costs incurred that extend the useful life of an asset, improve the safety of our operations, or improve operating efficiency are capitalized, while normal repairs and maintenance are expensed as incurred. These costs are allocated using appropriate statistical bases. Total expense for repairs and maintenance incurred was $2.4 billion for 2022 2021 2020 Assets held under finance leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. Amortization expense is computed using the straight-line method over the shorter of the estimated useful lives of the assets or the period of the related lease.

Note 12 - Accounts Payable and

Note 12 - Accounts Payable and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	12. Dec. 31, Dec. 31, Millions 2022 2021 Compensation-related accruals [a] $ 938 $ 654 Accounts payable 784 752 Income and other taxes payable 628 823 Interest payable 379 330 Current operating lease liabilities (Note 16) 331 330 Accrued casualty costs 242 187 Equipment rents payable 109 98 Other [a] 431 404 Total accounts payable and other current liabilities $ 3,842 $ 3,578 [a] Prior periods have been reclassified to conform to the current period disclosure.

Note 13 - Financial Instruments

Note 13 - Financial Instruments	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	13. Short-Term Investments 2 December 31, 2022 2021 one Fair Value of Financial Instruments 2 December 31, 2022 December 31, 2021

Note 14 - Debt

Note 14 - Debt	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	14. Total debt as of December 31, 2022 2021 Millions 2022 2021 Notes and debentures, 2.2 7.1 February 14, 2072 $ 33,658 $ 29,508 Equipment obligations, 2.6 6.2 January 2, 2031 809 848 Finance leases, 3.1 8.0 December 10, 2028 234 336 Commercial paper, 3.3 4.7 January 17, 2023 200 400 Receivables Facility (Note 10) 100 300 Term loans - floating rate, due August 31, 2023 100 100 Unamortized discount and deferred issuance costs (1,775 ) (1,763 ) Total debt 33,326 29,729 Less: current portion (1,678 ) (2,166 ) Total long-term debt $ 31,648 $ 27,563 Debt Maturities December 31, 2022 Millions 2023 $ 1,681 2024 1,434 2025 1,528 2026 1,015 2027 1,285 Thereafter 28,158 Total principal 35,101 Unamortized discount and deferred issuance costs (1,775 ) Total debt $ 33,326 Equipment Encumbrances December 31, 2022 2021 Debt Redemption April 15, 2022 July 15, 2022, Debt Exchange - April 6, 2021 2028 2065 April 6, 2036 2036 April 6, 2071 2071 470 50 40, Debt-Modifications and Extinguishments-Derecognition not 2021. Credit Facilities 2022, June 8, 2023 May 20, 2027 December 31, 2022 2022 The definition of debt used for purposes of calculating the debt-to-EBITDA coverage ratio includes, among other things, certain credit arrangements, finance leases, guarantees, unfunded and vested pension benefits under Title IV of ERISA, and unamortized debt discount and deferred debt issuance costs. At December 31, 2022 not During 2022 December 31, 2022 2021 not Shelf Registration Statement and Significant New Borrowings February 3, 2022, three February 10, 2021. may one During 2022 Date Description of Securities February 14, 2022 $1.25 billion of 2.800 February 14, 2032 $0.50 billion of 3.375 February 14, 2042 $1.25 billion of 3.500 February 14, 2053 $0.50 billion of 3.850 February 14, 2072 September 9, 2022 $0.90 billion of 4.500 January 20, 2033 $0.60 billion of 4.950 September 9, 2052 $0.40 billion of 5.150 January 20, 2063 The net proceeds of the 4.950% Notes due September 9, 2052 December 31, 2022 Receivables Securitization Facility December 31, 2022 2021 10.

Note 15 - Variable Interest Ent

Note 15 - Variable Interest Entities	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Variable Interest Entity Disclosure [Text Block]	15. We have entered into various lease transactions in which the structure of the leases contain variable interest entities (VIEs). These VIEs were created solely for the purpose of doing lease transactions (principally involving railroad equipment and facilities) and have no not We maintain and operate the assets based on contractual obligations within the lease arrangements, which set specific guidelines consistent within the railroad industry. As such, we have no not not not We are not not not not December 31, 2022

Note 16 - Leases

Note 16 - Leases	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	16. We lease certain locomotives, freight cars, and other property for use in our rail operations. The following are additional details related to our lease portfolio: Dec. 31, Dec. 31, Millions Classification 2022 2021 Assets Operating leases Operating lease assets $ 1,672 $ 1,787 Finance leases Properties, net [a] 310 366 Total leased assets $ 1,982 $ 2,153 Liabilities Current Operating Accounts payable and other current liabilities $ 331 $ 330 Finance Debt due within one year 67 92 Noncurrent Operating Operating lease liabilities 1,300 1,429 Finance Debt due after one year 167 244 Total lease liabilities $ 1,865 $ 2,095 [a] Finance lease assets are recorded net of accumulated amortization of $658 million and $687 million as of December 31, 2022 2021 The lease cost components are classified as follows: Millions Dec 31, 2022 Dec 31, 2021 Operating lease cost [a] $ 338 $ 303 Short-term lease cost 18 25 Variable lease cost 13 11 Finance lease cost Amortization of leased assets [b] 52 69 Interest on lease liabilities [c] 12 20 Net lease cost $ 433 $ 428 [a] Operating lease cost is primarily reported in equipment and other rents in our Consolidated Statements of Income. [b] Amortization of leased assets is reported in depreciation in our Consolidated Statements of Income. [c] Interest on lease liabilities is reported in interest expense in our Consolidated Statements of Income. The following table presents aggregate lease maturities as of December 31, 2022 Millions Operating Leases Finance Leases Total 2023 $ 335 $ 76 $ 411 2024 318 63 381 2025 321 44 365 2026 248 35 283 2027 188 30 218 After 2027 393 11 404 Total lease payments $ 1,803 $ 259 $ 2,062 Less: Interest 172 25 197 Present value of lease liabilities $ 1,631 $ 234 $ 1,865 The following table presents the weighted average remaining lease term and discount rate: Dec. 31, 2022 Weighted-average remaining lease term (years) Operating leases 6.4 Finance leases 4.2 Weighted-average discount rate (%) Operating leases 3.3 Finance leases 4.7 The following table presents other information related to our operating and finance leases for the years ended December 31: Millions 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 319 $ 292 Investing cash flows from operating leases 31 27 Operating cash flows from finance leases 15 26 Financing cash flows from finance leases 91 106 Leased assets obtained in exchange for finance lease liabilities - - Leased assets obtained in exchange for operating lease liabilities 173 442

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments Contingencies and Guarantees [Text Block]	17. Asserted and Unasserted Claims not Personal Injury Approximately 93% of the recorded liability is related to asserted claims and approximately 7% is related to unasserted claims at December 31, 2022 may no Our personal injury liability activity was as follows: Millions 2022 2021 2020 Beginning balance $ 325 $ 270 $ 265 Current year accruals 107 93 72 Changes in estimates for prior years 55 48 (3 ) Payments (126 ) (86 ) (64 ) Ending balance at December 31 $ 361 $ 325 $ 270 Current portion, ending balance at December 31 $ 84 $ 64 $ 60 Environmental Costs may may Our environmental liability activity was as follows: Millions 2022 2021 2020 Beginning balance $ 243 $ 233 $ 227 Accruals 84 69 76 Payments (74 ) (59 ) (70 ) Ending balance at December 31 $ 253 $ 243 $ 233 Current portion, ending balance at December 31 $ 67 $ 60 $ 65 The environmental liability includes future costs for remediation and restoration of sites, as well as ongoing monitoring costs, but excludes any anticipated recoveries from third may not Insurance not January 2019, no fourth 2018 Indemnities not

Note 18 - Share Repurchase Prog

Note 18 - Share Repurchase Programs	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Treasury Stock [Text Block]	18. Effective April 1, 2022 March 31, 2025 December 31, 2022 2022 may Our previous authorization, which was effective April 1, 2019, March 31, 2022, March 31, 2022, 2019 The table below represents shares repurchased under repurchase programs during 2022 2021 Number of Shares Purchased Average Price Paid [a] 2022 2021 2022 2021 First quarter [b] 11,014,201 6,691,421 $ 249.95 $ 209.50 Second quarter [c] 3,100,683 12,204,409 232.87 222.46 Third quarter [d] 9,490,339 8,604,239 221.52 210.31 Fourth quarter 3,501,667 5,837,551 201.33 233.71 Total 27,106,890 33,337,620 $ 231.76 $ 218.69 Remaining number of shares that may be repurchased under current authority 83,907,311 [a] In the period of the final settlement, the average price paid under the accelerated share repurchase programs is calculated based on the total program value less the value assigned to the initial delivery of shares. The average price of the completed 2022 2021 [b] Includes 7,012,232 shares repurchased in 2022 [c] Includes an incremental 1,847,185 shares received upon final settlement in 2022 2021 [d] Includes an incremental 1,983,859 shares received upon final settlement in 2021 Management's assessments of market conditions and other pertinent factors guide the timing and volume of all repurchases. We expect to fund any share repurchases under this program through cash generated from operations, the sale or lease of various operating and non-operating properties, debt issuances, and cash on hand. Open market repurchases are recorded in treasury stock at cost, which includes any applicable commissions and fees. Accelerated Share Repurchase Programs may On February 18, 2022, second 2022, On May 26, 2021, third 2021, ASRs are accounted for as equity transactions, and at the time of receipt, shares are included in treasury stock at fair market value as of the corresponding initiation or settlement date. The Company reflects shares received as a repurchase of common stock in the weighted average common shares outstanding calculation for basic and diluted earnings per share.

Note 19 - Related Parties

Note 19 - Related Parties	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	19. UPRR and other North American railroad companies jointly own TTX Company (TTX). UPRR has a 37.03% economic and voting interest in TTX while the other North American railroads own the remaining interest. In accordance with ASC 323 Investments - Equity Method and Joint Venture TTX is a rail car pooling company that owns rail cars and intermodal wells to serve North America’s railroads. TTX assists railroads in meeting the needs of their customers by providing rail cars in an efficient, pooled environment. All railroads have the ability to utilize TTX rail cars through car hire by renting rail cars at stated rates. UPRR had $1.7 billion and $1.6 billion recognized as investments related to TTX in our Consolidated Statements of Financial Position as of December 31, 2022 2021 402 2022 2021 2020 68 December 31, 2022 2021

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation 20% 50% no
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents, and Restricted Cash three The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Statements of Financial Position that sum to the total of the same such amounts shown on the Consolidated Statements of Cash Flows: Millions 2022 2021 2020 Cash and cash equivalents $ 973 $ 960 $ 1,799 Restricted cash equivalents in other current assets 10 19 7 Restricted cash equivalents in other assets 4 4 12 Total cash, cash equivalents, and restricted cash equivalents $ 987 $ 983 $ 1,818
Receivable [Policy Text Block]	Accounts Receivable not one
Investment, Policy [Policy Text Block]	Investments 20% 50% 20% not not
Inventory, Policy [Policy Text Block]	Materials and Supplies
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Depreciation not no
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-lived Assets may not
Revenue [Policy Text Block]	Revenue Recognition We recognize freight revenues over time as freight moves from origin to destination. The allocation of revenues between reporting periods is based on the relative transit time in each reporting period with expenses recognized as incurred. Outstanding performance obligations related to freight moves in transit totaled $194 million at December 31, 2022 December 31, 2021 may Under typical payment terms, our customers pay us after each performance obligation is satisfied and there are no Freight revenues related to interline transportation services that involve other railroads are reported on a net basis. The portion of the gross amount billed to customers that is remitted by the Company to another party is not Other revenues consist primarily of revenues earned by our other subsidiaries (primarily logistics and commuter rail operations) and accessorial revenues. Other subsidiary revenues are generally recognized over time as shipments move from origin to destination. The allocation of revenues between reporting periods is based on the relative transit time in each reporting period with expenses recognized as incurred. Accessorial revenues are recognized at a point in time as performance obligations are satisfied.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation of Foreign Currency
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements three Level 1: Level 2: Level 3: not We have applied fair value measurements to our short-term investments, certain equity investments, pension plan assets, and short- and long-term debt.
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation We measure and recognize compensation expense for all stock-based awards made to employees, including stock options and ESPP awards. Compensation expense is based on the fair value of the awards as measured at the grant date and is expensed ratably over the service period of the awards (generally the vesting period). The fair value of retention awards is the closing stock price on the date of grant, the fair value of stock options is determined by using the Black-Scholes option pricing model, and the fair value of ESPP awards is based on the Company contribution match.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share
Income Tax, Policy [Policy Text Block]	Income Taxes not not When appropriate, we record a valuation allowance against deferred tax assets to reflect that these tax assets may not not not We recognize tax benefits that are more likely than not 50 not
Lessee, Leases [Policy Text Block]	Leases not may one one We have lease agreements with lease and non-lease components, and we have elected to not 12 not 12
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block]	Pension Benefits
Personal Injury [Policy Text Block]	Personal Injury not
Environmental Costs, Policy [Policy Text Block]	Environmental not not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates may

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Millions 2022 2021 2020 Bulk $ 7,537 $ 6,656 $ 5,960 Industrial 8,205 7,323 6,622 Premium 7,417 6,265 5,669 Total freight revenues $ 23,159 $ 20,244 $ 18,251 Other subsidiary revenues 884 741 743 Accessorial revenues 779 752 473 Other 53 67 66 Total operating revenues $ 24,875 $ 21,804 $ 19,533

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Restrictions on Cash and Cash Equivalents [Table Text Block]	Millions 2022 2021 2020 Cash and cash equivalents $ 973 $ 960 $ 1,799 Restricted cash equivalents in other current assets 10 19 7 Restricted cash equivalents in other assets 4 4 12 Total cash, cash equivalents, and restricted cash equivalents $ 987 $ 983 $ 1,818

Note 4 - Stock Options and Ot_2

Note 4 - Stock Options and Other Stock Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Millions 2022 2021 2020 Stock-based compensation, before tax: Stock options $ 14 $ 15 $ 15 Retention awards 68 66 58 ESPP 17 7 - Total stock-based compensation, before tax $ 99 $ 88 $ 73 Excess income tax benefits from equity compensation plans $ 21 $ 26 $ 55
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Weighted-Average Assumptions 2022 2021 2020 Risk-free interest rate 1.6 % 0.4 % 1.5 % Dividend yield 1.9 % 1.9 % 2.1 % Expected life (years) 4.4 4.6 4.9 Volatility 28.7 % 28.3 % 23.4 % Weighted-average grant-date fair value of options granted $ 51.92 $ 39.97 $ 32.20
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Options (thous.) Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (yrs.) Aggregate Intrinsic Value (millions) Outstanding at January 1, 2022 2,106 $ 149.84 6.3 $ 215 Granted 328 244.35 N/A N/A Exercised (421 ) 124.60 N/A N/A Forfeited or expired (39 ) 214.72 N/A N/A Outstanding at December 31, 2022 1,974 $ 169.64 6.0 $ 86 Vested or expected to vest at December 31, 2022 1,954 $ 169.12 6.0 $ 85 Options exercisable at December 31, 2022 1,308 $ 144.09 4.9 $ 82
Cash Proceeds Received and Tax Benefit from Share-Based Payment Awards [Table Text Block]	Millions 2022 2021 2020 Intrinsic value of stock options exercised $ 53 $ 84 $ 120 Cash received from option exercises 27 58 95 Treasury shares repurchased for employee payroll taxes (8 ) (15 ) (24 ) Income tax benefit realized from option exercises 8 16 28 Aggregate grant-date fair value of stock options vested 13 14 15
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Shares (thous.) Weighted-Average Grant-Date Fair Value Nonvested at January 1, 2022 1,287 $ 165.10 Granted 252 241.37 Vested (410 ) 126.26 Forfeited (60 ) 191.98 Nonvested at December 31, 2022 1,069 $ 196.47
Schedule of Nonvested Performance-Based Units Activity [Table Text Block]	Shares (thous.) Weighted-Average Grant-Date Fair Value Nonvested at January 1, 2022 641 $ 173.03 Granted 209 244.35 Vested (56 ) 162.64 Unearned (163 ) 161.57 Forfeited (37 ) 211.96 Nonvested at December 31, 2022 594 $ 199.82

Note 5 - Retirement Plans (Tabl

Note 5 - Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Net Funded Status [Table Text Block]	Funded Status Millions 2022 2021 Projected Benefit Obligation Projected benefit obligation at beginning of year $ 5,296 $ 5,658 Service cost 93 110 Interest cost 123 104 Actuarial (gain)/loss (1,557 ) (346 ) Gross benefits paid (230 ) (230 ) Projected benefit obligation at end of year $ 3,725 $ 5,296 Plan Assets Fair value of plan assets at beginning of year $ 5,554 $ 5,016 Actual (loss)/return on plan assets (992 ) 737 Non-qualified plan benefit contributions 31 31 Gross benefits paid (230 ) (230 ) Fair value of plan assets at end of year $ 4,363 $ 5,554 Funded status at end of year $ 638 $ 258
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]	Millions 2022 2021 Noncurrent assets $ 1,033 $ 807 Current liabilities (31 ) (31 ) Noncurrent liabilities (364 ) (518 ) Net amounts recognized at end of year $ 638 $ 258
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Millions 2022 2021 2020 Net actuarial (loss)/gain $ 272 $ 813 $ (408 ) Amortization of: Actuarial loss 86 141 104 Total $ 358 $ 954 $ (304 )
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]	Underfunded Accumulated Benefit Obligation Millions 2022 2021 Projected benefit obligation $ 394 $ 549 Accumulated benefit obligation $ 382 $ 513 Fair value of plan assets - - Underfunded accumulated benefit obligation $ (382 ) $ (513 )
Defined Benefit Plan, Assumptions [Table Text Block]	Percentages 2022 2021 Discount rate 5.21 % 2.80 % Compensation increase 4.10 % 4.30 % Percentages 2022 2021 2020 Discount rate for benefit obligations 2.80 % 2.42 % 3.26 % Discount rate for interest on benefit obligations 2.40 % 1.90 % 2.89 % Discount rate for service cost 2.91 % 2.61 % 3.42 % Discount rate for interest on service cost 2.86 % 2.53 % 3.36 % Expected return on plan assets 6.25 % 6.25 % 7.00 % Compensation increase 4.10 % 4.40 % 4.10 %
Schedule of Net Benefit Costs [Table Text Block]	Millions 2022 2021 2020 Net Periodic Pension Cost: Service cost $ 93 $ 110 $ 91 Interest cost 123 104 137 Expected return on plan assets (293 ) (270 ) (282 ) Amortization of: Actuarial loss 86 141 104 Net periodic pension cost $ 9 $ 85 $ 50
Cash Contributions for Qualified Pension Plan, Benefit Payments for Non Qualified OPEB Plans [Table Text Block]	Millions Qualified Non-qualified 2022 $ - $ 31 2021 - 31
Schedule of Expected Benefit Payments [Table Text Block]	Millions 2023 $ 230 2024 228 2025 227 2026 228 2027 229 Years 2028 - 2032 1,172
Schedule of Allocation of Plan Assets [Table Text Block]	Percentage of Plan Assets Target December 31, Allocation 2023 2022 2021 Equity securities 20% to 30% 48 % 57 % Debt securities 70% to 80% 51 42 Real estate 0% to 2% 1 1 Total 100 % 100 %
Defined Benefit Plan, Plan Assets, Category [Table Text Block]	Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Inputs Inputs Inputs Millions (Level 1) (Level 2) (Level 3) Total Plan assets at fair value: Temporary cash investments $ 1 $ - $ - $ 1 Registered investment companies [a] 6 - - 6 Federal government securities - 803 - 803 Bonds and debentures - 1,069 - 1,069 Corporate stock 1,104 7 - 1,111 Total plan assets at fair value $ 1,111 $ 1,879 $ - $ 2,990 Plan assets at NAV: Registered investment companies [b] 68 Venture capital and buyout partnerships 611 Real estate funds 37 Collective trust and other funds 622 Total plan assets at NAV $ 1,338 Other assets/(liabilities) [c] 35 Total plan assets $ 4,363 Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Inputs Inputs Inputs Millions (Level 1) (Level 2) (Level 3) Total Plan assets at fair value: Temporary cash investments $ 9 $ - $ - $ 9 Registered investment companies [a] 10 - - 10 Federal government securities - 742 - 742 Bonds and debentures - 1,116 - 1,116 Corporate stock 1,980 10 - 1,990 Total plan assets at fair value $ 1,999 $ 1,868 $ - $ 3,867 Plan assets at NAV: Registered investment companies [b] 185 Venture capital and buyout partnerships 710 Real estate funds 48 Collective trust and other funds 756 Total plan assets at NAV $ 1,699 Other assets/(liabilities) [c] (12 ) Total plan assets $ 5,554

Note 6 - Other Income (Tables)

Note 6 - Other Income (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Other Nonoperating Income, by Component [Table Text Block]	Millions 2022 2021 2020 Real estate income [a] [b] $ 381 $ 263 $ 264 Net periodic pension benefit/(costs) 84 25 41 Environmental remediation and restoration (47 ) (17 ) (30 ) Gain from sale of investment - 36 - Other [a] 8 (10 ) 12 Total $ 426 $ 297 $ 287

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Millions 2022 2021 2020 Current tax expense: Federal $ 1,465 $ 1,446 $ 1,026 State 340 347 259 Foreign 7 8 6 Total current tax expense 1,812 1,801 1,291 Deferred and other tax expense/(benefit): Federal 320 199 295 State [a] (59 ) (44 ) 45 Foreign 1 (1 ) - Total deferred and other tax expense 262 154 340 Total income tax expense $ 2,074 $ 1,955 $ 1,631
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Tax Rate Percentages 2022 2021 2020 Federal statutory tax rate 21.0 % 21.0 % 21.0 % State statutory rates, net of federal benefits 3.6 3.7 3.7 Deferred tax adjustments (1.0 ) (0.6 ) (0.1 ) Dividends received deduction (0.5 ) (0.5 ) (0.5 ) Excess tax benefits from equity compensation plans (0.2 ) (0.3 ) (0.8 ) Other - (0.2 ) 0.1 Effective tax rate 22.9 % 23.1 % 23.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Millions 2022 2021 Deferred income tax liabilities: Property $ (12,910 ) $ (12,657 ) Operating lease assets (411 ) (441 ) Other (591 ) (534 ) Total deferred income tax liabilities (13,912 ) (13,632 ) Deferred income tax assets: Operating lease liabilities 401 434 Accrued casualty costs 164 157 Accrued wages 50 45 Stock compensation 26 26 Retiree benefits - 39 Other 238 256 Total deferred income tax assets 879 957 Net deferred income tax liability $ (13,033 ) $ (12,675 )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Millions 2022 2021 2020 Unrecognized tax benefits at January 1 $ 38 $ 74 $ 64 Decreases for positions taken in prior years (4 ) (24 ) (19 ) Increases for positions taken in current year 3 3 18 Lapse of statutes of limitations (3 ) (1 ) (1 ) Refunds from/(payments to) and settlements with taxing authorities - (12 ) - Increases/(decreases) for interest and penalties - (3 ) 5 Increases for positions taken in prior years - 1 7 Unrecognized tax benefits at December 31 $ 34 $ 38 $ 74

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Millions, Except Per Share Amounts 2022 2021 2020 Net income $ 6,998 $ 6,523 $ 5,349 Weighted-average number of shares outstanding: Basic 622.7 653.8 677.3 Dilutive effect of stock options 0.6 0.8 0.8 Dilutive effect of retention shares and units 0.7 0.8 1.0 Diluted 624.0 655.4 679.1 Earnings per share – basic $ 11.24 $ 9.98 $ 7.90 Earnings per share – diluted $ 11.21 $ 9.95 $ 7.88

Note 9 - Accumulated Other Co_2

Note 9 - Accumulated Other Comprehensive Income Loss (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Millions Defined benefit plans Foreign currency translation Total Balance at January 1, 2022 $ (658 ) $ (256 ) $ (914 ) Other comprehensive income/(loss) before reclassifications - 52 52 Amounts reclassified from accumulated other comprehensive income/(loss) [a] 280 - 280 Net year-to-date other comprehensive income/(loss), net of taxes of ($ 92 280 52 332 Balance at December 31, 2022 $ (378 ) $ (204 ) $ (582 ) Balance at January 1, 2021 $ (1,381 ) $ (212 ) $ (1,593 ) Other comprehensive income/(loss) before reclassifications - (44 ) (44 ) Amounts reclassified from accumulated other comprehensive income/(loss) [a] 723 - 723 Net year-to-date other comprehensive income/(loss), net of taxes of ($ 237 723 (44 ) 679 Balance at December 31, 2021 $ (658 ) $ (256 ) $ (914 )

Note 11 - Properties (Tables)

Note 11 - Properties (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	Millions, Except Estimated Useful Life Accumulated Net Book Estimated As of December 31, 2022 Cost Depreciation Value Useful Life Land $ 5,344 $ N/A $ 5,344 N/A Road: Rail and other track material 18,419 7,096 11,323 43 Ties 11,676 3,699 7,977 34 Ballast 6,222 1,950 4,272 34 Other roadway [a] 22,411 4,970 17,441 47 Total road 58,728 17,715 41,013 N/A Equipment: Locomotives 9,166 3,606 5,560 18 Freight cars 2,562 898 1,664 23 Work equipment and other 1,253 473 780 17 Total equipment 12,981 4,977 8,004 N/A Technology and other 1,254 525 729 12 Construction in progress 948 - 948 N/A Total $ 79,255 $ 23,217 $ 56,038 N/A Millions, Except Estimated Useful Life Accumulated Net Book Estimated As of December 31, 2021 Cost Depreciation Value Useful Life Land $ 5,339 $ N/A $ 5,339 N/A Road: Rail and other track material 17,980 6,844 11,136 44 Ties 11,364 3,516 7,848 34 Ballast 6,070 1,852 4,218 34 Other roadway [a] 21,593 4,657 16,936 47 Total road 57,007 16,869 40,138 N/A Equipment: Locomotives 9,371 3,779 5,592 17 Freight cars 2,227 822 1,405 24 Work equipment and other 1,161 411 750 18 Total equipment 12,759 5,012 7,747 N/A Technology and other 1,209 523 686 12 Construction in progress 961 - 961 N/A Total $ 77,275 $ 22,404 $ 54,871 N/A

Note 12 - Accounts Payable an_2

Note 12 - Accounts Payable and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	Dec. 31, Dec. 31, Millions 2022 2021 Compensation-related accruals [a] $ 938 $ 654 Accounts payable 784 752 Income and other taxes payable 628 823 Interest payable 379 330 Current operating lease liabilities (Note 16) 331 330 Accrued casualty costs 242 187 Equipment rents payable 109 98 Other [a] 431 404 Total accounts payable and other current liabilities $ 3,842 $ 3,578

Note 14 - Debt (Tables)

Note 14 - Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Debt [Table Text Block]	Millions 2022 2021 Notes and debentures, 2.2 7.1 February 14, 2072 $ 33,658 $ 29,508 Equipment obligations, 2.6 6.2 January 2, 2031 809 848 Finance leases, 3.1 8.0 December 10, 2028 234 336 Commercial paper, 3.3 4.7 January 17, 2023 200 400 Receivables Facility (Note 10) 100 300 Term loans - floating rate, due August 31, 2023 100 100 Unamortized discount and deferred issuance costs (1,775 ) (1,763 ) Total debt 33,326 29,729 Less: current portion (1,678 ) (2,166 ) Total long-term debt $ 31,648 $ 27,563
Schedule of Maturities of Long-Term Debt [Table Text Block]	Millions 2023 $ 1,681 2024 1,434 2025 1,528 2026 1,015 2027 1,285 Thereafter 28,158 Total principal 35,101 Unamortized discount and deferred issuance costs (1,775 ) Total debt $ 33,326
Unsecured Fixed Rate Debt Securities Issued Under Current Shelf Registration [Table Text Block]	Date Description of Securities February 14, 2022 $1.25 billion of 2.800 February 14, 2032 $0.50 billion of 3.375 February 14, 2042 $1.25 billion of 3.500 February 14, 2053 $0.50 billion of 3.850 February 14, 2072 September 9, 2022 $0.90 billion of 4.500 January 20, 2033 $0.60 billion of 4.950 September 9, 2052 $0.40 billion of 5.150 January 20, 2063

Note 16 - Leases (Tables)

Note 16 - Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Lessee, Lease [Table Text Block]	Dec. 31, Dec. 31, Millions Classification 2022 2021 Assets Operating leases Operating lease assets $ 1,672 $ 1,787 Finance leases Properties, net [a] 310 366 Total leased assets $ 1,982 $ 2,153 Liabilities Current Operating Accounts payable and other current liabilities $ 331 $ 330 Finance Debt due within one year 67 92 Noncurrent Operating Operating lease liabilities 1,300 1,429 Finance Debt due after one year 167 244 Total lease liabilities $ 1,865 $ 2,095
Lease, Cost [Table Text Block]	Millions Dec 31, 2022 Dec 31, 2021 Operating lease cost [a] $ 338 $ 303 Short-term lease cost 18 25 Variable lease cost 13 11 Finance lease cost Amortization of leased assets [b] 52 69 Interest on lease liabilities [c] 12 20 Net lease cost $ 433 $ 428
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Millions Operating Leases Finance Leases Total 2023 $ 335 $ 76 $ 411 2024 318 63 381 2025 321 44 365 2026 248 35 283 2027 188 30 218 After 2027 393 11 404 Total lease payments $ 1,803 $ 259 $ 2,062 Less: Interest 172 25 197 Present value of lease liabilities $ 1,631 $ 234 $ 1,865
Weighted Average Remaining Lease Term and Discount Rate [Table Text Block]	Dec. 31, 2022 Weighted-average remaining lease term (years) Operating leases 6.4 Finance leases 4.2 Weighted-average discount rate (%) Operating leases 3.3 Finance leases 4.7
Lessee, Lease, Other Information [Table Text Block]	Millions 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 319 $ 292 Investing cash flows from operating leases 31 27 Operating cash flows from finance leases 15 26 Financing cash flows from finance leases 91 106 Leased assets obtained in exchange for finance lease liabilities - - Leased assets obtained in exchange for operating lease liabilities 173 442

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Loss Contingencies by Contingency, Environmental [Table Text Block]	Millions 2022 2021 2020 Beginning balance $ 243 $ 233 $ 227 Accruals 84 69 76 Payments (74 ) (59 ) (70 ) Ending balance at December 31 $ 253 $ 243 $ 233 Current portion, ending balance at December 31 $ 67 $ 60 $ 65
Personal Injury [Member]
Notes Tables
Schedule of Loss Contingencies by Contingency [Table Text Block]	Millions 2022 2021 2020 Beginning balance $ 325 $ 270 $ 265 Current year accruals 107 93 72 Changes in estimates for prior years 55 48 (3 ) Payments (126 ) (86 ) (64 ) Ending balance at December 31 $ 361 $ 325 $ 270 Current portion, ending balance at December 31 $ 84 $ 64 $ 60

Note 18 - Share Repurchase Pr_2

Note 18 - Share Repurchase Programs (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Share Repurchase Program [Table Text Block]	Number of Shares Purchased Average Price Paid [a] 2022 2021 2022 2021 First quarter [b] 11,014,201 6,691,421 $ 249.95 $ 209.50 Second quarter [c] 3,100,683 12,204,409 232.87 222.46 Third quarter [d] 9,490,339 8,604,239 221.52 210.31 Fourth quarter 3,501,667 5,837,551 201.33 233.71 Total 27,106,890 33,337,620 $ 231.76 $ 218.69 Remaining number of shares that may be repurchased under current authority 83,907,311

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Network Route Miles	32,534
Route Miles Owned	26,121
Number of Reportable Segments	1
Number of Operating Segments	1
Revenue from Contract with Customer, Excluding Assessed Tax	$ 24,875	$ 21,804	$ 19,533
MEXICO
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,700	$ 2,400	$ 2,100

Note 1 - Nature of Operations -

Note 1 - Nature of Operations - Summary of Freight and Other Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer, Excluding Assessed Tax	$ 24,875	$ 21,804	$ 19,533
Bulk [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	7,537	6,656	5,960
Industrial [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	8,205	7,323	6,622
Premium [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	7,417	6,265	5,669
Cargo and Freight [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	23,159	20,244	18,251
Other Subsidiary Revenues [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	884	741	743
Accessorial Revenues [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	779	752	473
Other Miscellaneous Product and Service Revenues [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 53	$ 67	$ 66

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Amount	$ 194	$ 169

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 973	$ 960	$ 1,799
Total cash, cash equivalents, and restricted cash equivalents	987	983	1,818
Other Current Assets [Member]
Restricted cash equivalents	10	19	7
Other Noncurrent Assets [Member]
Restricted cash equivalents	$ 4	$ 4	$ 12

Note 4 - Stock Options and Ot_3

Note 4 - Stock Options and Other Stock Plans (Details Textual) - USD ($)	7 Months Ended	12 Months Ended
	Jul. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)		1,974,000	2,106,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)		33,185,971	34,011,624	69,867,405
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date	40%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate	5%
ESPP Employee Contribution Annual Limit	$ 15,000
Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Conditions (in shares)		0
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 16,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year
Retention Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		1,069,000	1,287,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 87,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 6 months
Performance Retention Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		594,000	641,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 20,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Month)		37 months
Share-based Compensation Arrangement by Share-based Payment Award, Performance Period (Year)		3 years
Operating Income Growth Modifier Range		25%
Union Pacific Corporation 2000 Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		2,200,000
Share-based Compensation, Retention Shares Granted to Each Non-employee Director upon Initial Election to Board (in shares)					4,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares)		20,000
Union Pacific Corporation 2004 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		84,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)		14,408
Union Pacific Corporation 2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		78,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)		1,300,270
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		658,730
Union Pacific Corporation 2021 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		23,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)		659,135
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)		707,361
Union Pacific Corporation 2021 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		10,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares)		364,281

Note 4 - Stock-based Compensati

Note 4 - Stock-based Compensation - Stock-based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock options	$ 14	$ 15	$ 15
Retention awards	68	66	58
Total stock-based compensation, before tax	99	88	73
Excess income tax benefits from equity compensation plans	21	26	55
Employee Stock [Member]
ESPP	$ 17	$ 7	$ 0

Note 4 - Stock-based Compensa_2

Note 4 - Stock-based Compensation- Stock Option Assumption (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Risk-free interest rate	1.60%	0.40%	1.50%
Dividend yield	1.90%	1.90%	2.10%
Expected life (years) (Year)	4 years 4 months 24 days	4 years 7 months 6 days	4 years 10 months 24 days
Volatility	28.70%	28.30%	23.40%
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 51.92	$ 39.97	$ 32.20

Note 4 - Stock-based Compensa_3

Note 4 - Stock-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding, Options (in shares)	2,106
Outstanding, weighted average exercise price (in dollars per share)	$ 149.84
Outstanding, Weighted-Average Remaining Contractual Term (Year)	6 years	6 years 3 months 18 days
Outstanding, Aggregate Intrinsic Value	$ 86	$ 215
Granted, Options (in shares)	328
Granted, weighted average exercise price (in dollars per share)	$ 244.35
Exercised, Options (in shares)	(421)
Exercised, weighted average exercise price (in dollars per share)	$ 124.60
Forfeited or expired, Options (in shares)	(39)
Forfeited or expired, weighted average exercise price (in dollars per share)	$ 214.72
Outstanding, Options (in shares)	1,974	2,106
Outstanding, weighted average exercise price (in dollars per share)	$ 169.64	$ 149.84
Vested or expected to vest, Options (in shares)	1,954
Vested or expected to vest, weighted average exercise price (in dollars per share)	$ 169.12
Vested or expected to vest, Weighted-Average Remaining Contractual Term (Year)	6 years
Vested or expected to vest, Aggregate Intrinsic Value	$ 85
Exercisable, Options (in shares)	1,308
Options, exercisable, Weighted-Average Exercise Price (in dollars per share)	$ 144.09
Options, Exercisable, Weighted-Average Remaining Contractual Term (Year)	4 years 10 months 24 days
Options, Exercisable, Aggregate Intrinsic Value	$ 82

Note 4 - Stock-based Compensa_4

Note 4 - Stock-based Compensation - Additional Information Regarding Stock Option Exercises (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intrinsic value of stock options exercised	$ 53	$ 84	$ 120
Cash received from option exercises	27	58	95
Treasury shares repurchased for employee payroll taxes	(8)	(15)	(24)
Income tax benefit realized from option exercises	8	16	28
Aggregate grant-date fair value of stock options vested	$ 13	$ 14	$ 15

Note 4 - Stock-based Compensa_5

Note 4 - Stock-based Compensation - Changes in Retention Awards (Details) - Retention Awards [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Nonvested, beginning balance (in shares) | shares	1,287
Nonvested, weighted-average grant-date fair value, beginning balance (in dollars per share) | $ / shares	$ 165.10
Granted (in shares) | shares	252
Granted, weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 241.37
Vested (in shares) | shares	(410)
Vested, weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 126.26
Forfeited (in shares) | shares	(60)
Forfeited, weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 191.98
Nonvested, ending balance (in shares) | shares	1,069
Nonvested, weighted-average grant-date fair value, ending balance (in dollars per share) | $ / shares	$ 196.47

Note 4 - Stock-based Compensa_6

Note 4 - Stock-based Compensation - Changes in Performance Retention Awards (Details) - Performance Retention Awards [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Nonvested, beginning balance (in shares) | shares	641
Nonvested, weighted-average grant-date fair value, beginning balance (in dollars per share) | $ / shares	$ 173.03
Granted (in shares) | shares	209
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 244.35
Vested (in shares) | shares	(56)
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 162.64
Unearned (in shares) | shares	(163)
Unearned, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 161.57
Forfeited (in shares) | shares	(37)
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares	$ 211.96
Nonvested, ending balance (in shares) | shares	594
Nonvested, weighted-average grant-date fair value, ending balance (in dollars per share) | $ / shares	$ 199.82

Note 5 - Retirement Plans (Deta

Note 5 - Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended				60 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		5.21%	2.80%		5.21%
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax		$ 493	$ 851		$ 493
Defined Benefit Plan, Accumulated Benefit Obligation		$ 3,500	$ 4,900		3,500
Defined Benefit Plan, Expected Return on Plan Assets, Changes In Fair Value, Period (Year)		5 years
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-Term Rate of Return on Plan Assets		6.25%	6.25%	7%
Weighted-average Maturity of Pension Plan Debt Portfolio (Year)		21 years	20 years
Pension Plan Master Trust, Future Commitments for Additional Contributions, Private Equity Partnerships		$ 91	$ 115		91
Pension Plan Master Trust, Future Commitments for Additional Contributions, Real Estate Partnerships and Funds		5	7		5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total		9	85	$ 50
Defined Contribution Plan, Cost		24	21	19
Railroad Retirement System Contributions		586	550	569
Collective-Bargaining Arrangement, Other [Member]
Multiple-Employer Plan Accounted for as Multiemployer Plan, Contribution by Participating Entity		$ 20	$ 30	$ 30
Forecast [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-Term Rate of Return on Plan Assets	5.25%
Forecast [Member] | Defined Benefit Plan, Equity Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25%
Forecast [Member] | Defined Benefit Plan, Debt Security [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	75%
Pension Plan [Member]
Actual Return (Loss) on Pension Plan Assets, Net of Fees		(18.00%)	15%	16%
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position, Total		$ 638	$ 258		638
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position, Total		(134)	(165)		$ (134)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total		$ (2)	$ (3)	$ (1)
Four Zero One Thrift Plan Before 2018 [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match		50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay		6%
Four Zero One Thrift Plan 2018 Beyond [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match					100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay					6%
Defined Contribution Plan, Additional Annual Employer Contribution, Percent of Employees Gross Pay		3%

Note 5 - Pension and Other Post

Note 5 - Pension and Other Postretirement Benefits - Changes in PBO and Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Projected benefit obligation at beginning of year	$ 5,296	$ 5,658
Service cost	93	110	$ 91
Interest cost	123	104	137
Actuarial (gain)/loss	(1,557)	(346)
Gross benefits paid	(230)	(230)
Projected benefit obligation at end of year	3,725	5,296	5,658
Fair value of plan assets at beginning of year	5,554	5,016
Actual (loss)/return on plan assets	(992)	737
Non-qualified plan benefit contributions	31	31
Fair value of plan assets at end of year	4,363	5,554	$ 5,016
Funded status at end of year	$ 638	$ 258

Note 5 - Retirement Plans - Amo

Note 5 - Retirement Plans - Amounts Recognized in the Statement of Financial Position (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Noncurrent assets	$ 1,033	$ 807
Current liabilities	(31)	(31)
Noncurrent liabilities	(364)	(518)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position, Total	$ 638	$ 258

Note 5 - Retirement Plans - Pre

Note 5 - Retirement Plans - Pre-tax Changes Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net actuarial (loss)/gain	$ 272	$ 813	$ (408)
Actuarial loss	86	141	104
Total	$ 358	$ 954	$ (304)

Note 5 - Retirement Plans - Acc

Note 5 - Retirement Plans - Accumulated Benefit Obligation (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Projected benefit obligation	$ 394	$ 549
Accumulated benefit obligation	382	513
Fair value of plan assets	0	0
Underfunded accumulated benefit obligation	$ (382)	$ (513)

Note 5 - Retirement Plans - Wei

Note 5 - Retirement Plans - Weighted Average Actuarial Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Discount rate	5.21%	2.80%
Compensation increase	4.10%	4.30%
Discount rate for benefit obligations	2.80%	2.42%	3.26%
Discount rate for interest on benefit obligations	2.40%	1.90%	2.89%
Discount rate for service cost	2.91%	2.61%	3.42%
Discount rate for interest on service cost	2.86%	2.53%	3.36%
Expected return on plan assets	6.25%	6.25%	7%
Compensation increase	4.10%	4.40%	4.10%

Note 5 - Retirement Plans - Com

Note 5 - Retirement Plans - Components of Net Periodic Pension and OPEB Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net periodic pension cost	$ 9	$ 85	$ 50
Pension Plan [Member]
Service cost	93	110	91
Interest cost	123	104	137
Expected return on plan assets	(293)	(270)	(282)
Actuarial loss	$ 86	$ 141	$ 104

Note 5 - Retirement Plans - Cas

Note 5 - Retirement Plans - Cash Contributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Qualified Plan [Member]
Pension	$ 0	$ 0
Nonqualified Plan [Member]
Pension	$ 31	$ 31

Note 5 - Retirement Plans - Ben

Note 5 - Retirement Plans - Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
2023	$ 230
2024	228
2025	227
2026	228
2027	229
Years 2028 - 2032	$ 1,172

Note 5 - Retirement Plans - Pen

Note 5 - Retirement Plans - Pension Plan Asset Allocation (Details)	Dec. 31, 2022	Dec. 31, 2021
Asset allocation percentage	100%	100%
Defined Benefit Plan, Equity Securities [Member]
Asset allocation percentage	48%	57%
Defined Benefit Plan, Equity Securities [Member] | Minimum [Member]
Target Allocation	20%
Defined Benefit Plan, Equity Securities [Member] | Maximum [Member]
Target Allocation	30%
Defined Benefit Plan, Debt Security [Member]
Asset allocation percentage	51%	42%
Defined Benefit Plan, Debt Security [Member] | Minimum [Member]
Target Allocation	70%
Defined Benefit Plan, Debt Security [Member] | Maximum [Member]
Target Allocation	80%
Defined Benefit Plan, Real Estate [Member]
Asset allocation percentage	1%	1%
Defined Benefit Plan, Real Estate [Member] | Minimum [Member]
Target Allocation	0%
Defined Benefit Plan, Real Estate [Member] | Maximum [Member]
Target Allocation	2%

Note 5 - Retirement Plans - Pla

Note 5 - Retirement Plans - Plan Assets Measured At Fair Value (Details) - Pension Plan [Member] - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Plan Assets Fair Value		$ 4,363	$ 5,554	$ 5,016
Fair Value, Recurring [Member]
Plan Assets Fair Value		4,363	5,554
Fair Value, Recurring [Member] | Defined Benefit Plan, Debt Security [Member]
Plan Assets Fair Value	[1]	68	185
Fair Value, Recurring [Member] | Venture Capital And Buyout Partnerships [Member]
Plan Assets Fair Value		611	710
Fair Value, Recurring [Member] | Defined Benefit Plan, Real Estate [Member]
Plan Assets Fair Value		37	48
Fair Value, Recurring [Member] | Common Trust And Other Funds [Member]
Plan Assets Fair Value		622	756
Fair Value, Recurring [Member] | Other Assets Pension Plan [Member]
Plan Assets Fair Value	[2]	35	(12)
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Plan Assets Fair Value		1,111	1,999
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Cash [Member]
Plan Assets Fair Value		1	9
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities [Member]
Plan Assets Fair Value	[3]	6	10
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury and Government [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities, Common Stock [Member]
Plan Assets Fair Value		1,104	1,980
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Plan Assets Fair Value		1,879	1,868
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Cash [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities [Member]
Plan Assets Fair Value	[3]	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury and Government [Member]
Plan Assets Fair Value		803	742
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Plan Assets Fair Value		1,069	1,116
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities, Common Stock [Member]
Plan Assets Fair Value		7	10
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Cash [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities [Member]
Plan Assets Fair Value	[3]	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury and Government [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities, Common Stock [Member]
Plan Assets Fair Value		0	0
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member]
Plan Assets Fair Value		2,990	3,867
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Cash [Member]
Plan Assets Fair Value		1	9
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities [Member]
Plan Assets Fair Value	[3]	6	10
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury and Government [Member]
Plan Assets Fair Value		803	742
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Plan Assets Fair Value		1,069	1,116
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | Fair Value, Recurring [Member] | Defined Benefit Plan, Equity Securities, Common Stock [Member]
Plan Assets Fair Value		1,111	1,990
Fair Value Measured at Net Asset Value Per Share [Member] | Fair Value, Recurring [Member]
Plan Assets Fair Value		$ 1,338	$ 1,699
[1]Registered investment companies measured at NAV include bond investments.[2]Other assets include accrued receivables, net payables, and pending broker settlements.[3]Registered investment companies measured at fair value are stock investments.

Note 6 - Other Income (Details

Note 6 - Other Income (Details Textual) - Land [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Illinois State Toll Highway Authority [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 79		$ 69
Colorado Department of Transportation [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 35	$ 50

Note 6 - Other Income - Schedul

Note 6 - Other Income - Schedule of Other Income (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real estate income [a] [b]	[1],[2]	$ 381	$ 263	$ 264
Net periodic pension benefit/(costs)		84	25	41
Environmental remediation and restoration		(47)	(17)	(30)
Gain from sale of investment		0	36	0
Other [a]	[2]	8	(10)	12
Total		$ 426	$ 297	$ 287
[1]2022 includes a $79 million gain from a land sale to the Illinois State Toll Highway Authority and a $35 million gain from a sale to the Colorado Department of Transportation. 2021 includes a $50 million gain from a sale to the Colorado Department of Transportation. 2020 includes a $69 million gain from a land and permanent easement sale to the Illinois State Toll Highway Authority.[2]Prior periods have been reclassified to conform to the current period financial statement presentation.

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets, Valuation Allowance, Total	$ 0	$ 0
Income Tax Examination, Penalties and Interest Accrued Liabilities (Receivables)	(3,000)	(1,000)
Income Tax Examination, Penalties and Interest Expense (Benefit)	(2,000)	(5,000)	$ 5,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	31,000	31,000	$ 52,000
State and Local Jurisdiction [Member] | Nebraska, Iowa, Arkansas, and Idaho Department of Revenue [Member]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ (95,000)
State and Local Jurisdiction [Member] | Nebraska, Oklahoma, Idaho, Louisiana and Arkansas Department of Revenue [Member]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ (32,000)

Note 7 - Income Taxes - Schedul

Note 7 - Income Taxes - Schedule of Income Tax Expense Components (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal, current		$ 1,465	$ 1,446	$ 1,026
State, current		340	347	259
Foreign, current		7	8	6
Total current tax expense		1,812	1,801	1,291
Federal, deferred		320	199	295
State, deferred [a]	[1]	(59)	(44)	45
Foreign, deferred		1	(1)	0
Total deferred and other tax expense		262	154	340
Total income tax expense		$ 2,074	$ 1,955	$ 1,631
[1]In 2022, Nebraska, Iowa, Arkansas, and Idaho enacted corporate income tax legislation that resulted in a $95 million reduction of our deferred tax expense. In 2021, Nebraska, Oklahoma, Idaho, Louisiana, and Arkansas enacted corporate income tax legislation that resulted in a $32 million reduction of our deferred tax expense.

Note 7 - Income Taxes - Sched_2

Note 7 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal statutory tax rate	21%	21%	21%
State statutory rates, net of federal benefits	3.60%	3.70%	3.70%
Deferred tax adjustments	(1.00%)	(0.60%)	(0.10%)
Dividends received deduction	(0.50%)	(0.50%)	(0.50%)
Excess tax benefits from equity compensation plans	(0.20%)	(0.30%)	(0.80%)
Other tax adjustments	0%	(0.20%)	0.10%
Effective tax rate	22.90%	23.10%	23.40%

Note 7 - Income Taxes - Sched_3

Note 7 - Income Taxes - Schedule of Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax liabilities:
Property	$ (12,910)	$ (12,657)
Operating lease assets	(411)	(441)
Other	(591)	(534)
Total deferred income tax liabilities	(13,912)	(13,632)
Deferred income tax assets:
Operating lease liabilities	401	434
Accrued casualty costs	164	157
Accrued wages	50	45
Stock compensation	26	26
Retiree benefits	0	39
Other	238	256
Total deferred income tax assets	879	957
Net deferred income tax liability	$ (13,033)	$ (12,675)

Note 7 - Income Taxes - Sched_4

Note 7 - Income Taxes - Schedule of Unrecognized Tax Benefits Assets (Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance, Unrecognized tax benefits	$ 38	$ 74	$ 64
Decreases for positions taken in prior years	(4)	(24)	(19)
Increases for positions taken in current year	3	3	18
Lapse of statutes of limitations	(3)	(1)	(1)
Refunds from/(payments to) and settlements with taxing authorities	0	(12)	0
Increases/(decreases) for interest and penalties	0	(3)	5
Increases for positions taken in prior years	0	1	7
Balance, Unrecognized tax benefits	$ 34	$ 38	$ 74

Note 8 - Earnings Per Share (De

Note 8 - Earnings Per Share (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.3	0.2	0.3

Note 8 - Earnings Per Share - S

Note 8 - Earnings Per Share - Schedule of Reconciliation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 6,998	$ 6,523	$ 5,349
Weighted-average number of shares outstanding:
Basic (in shares)	622.7	653.8	677.3
Diluted (in shares)	624	655.4	679.1
Earnings per share – basic (in dollars per share)	$ 11.24	$ 9.98	$ 7.90
Earnings per share – diluted (in dollars per share)	$ 11.21	$ 9.95	$ 7.88
Share-Based Payment Arrangement, Option [Member]
Weighted-average number of shares outstanding:
Dilutive effect of share based payment awards (in shares)	0.6	0.8	0.8
Retention Awards [Member]
Weighted-average number of shares outstanding:
Dilutive effect of share based payment awards (in shares)	0.7	0.8	1

Note 9 - Accumulated Other Co_3

Note 9 - Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassification (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance		$ 14,161	$ 16,958	$ 18,128
Total other comprehensive income/(loss)	[1]	332	679	(237)
Balance		12,163	14,161	16,958
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance		(658)	(1,381)
Other comprehensive income/(loss) before reclassifications		0	0
Amounts reclassified from accumulated other comprehensive income/(loss) [a]	[2]	280	723
Total other comprehensive income/(loss)		280	723
Balance		(378)	(658)	(1,381)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance		(256)	(212)
Other comprehensive income/(loss) before reclassifications		52	(44)
Amounts reclassified from accumulated other comprehensive income/(loss) [a]	[2]	0	0
Total other comprehensive income/(loss)		52	(44)
Balance		(204)	(256)	(212)
AOCI Attributable to Parent [Member]
Balance	[3]	(914)	(1,593)	(1,356)
Other comprehensive income/(loss) before reclassifications		52	(44)
Amounts reclassified from accumulated other comprehensive income/(loss) [a]	[2]	280	723
Total other comprehensive income/(loss)	[3]	332	679	(237)
Balance	[3]	$ (582)	$ (914)	$ (1,593)
[1]Net of deferred taxes of ($92) million, ($237) million, and $75 million during 2022, 2021, and 2020, respectively.[2]The accumulated other comprehensive income/loss reclassification components are 1) prior service cost/credit and 2) net actuarial loss, which are both included in the computation of net periodic pension benefit/cost. See Note 5 Retirement Plans for additional details.[3]AOCI = Accumulated Other Comprehensive Income/Loss (Note 9)

Note 9 - Accumulated Other Co_4

Note 9 - Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassification (Details) (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total other comprehensive income/(loss), tax	$ (92)	$ (237)

Note 10 - Accounts Receivable (

Note 10 - Accounts Receivable (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Current	$ 10	$ 10
Total Transfer Capacity, Undivided Interests to Investors under Receivables Securitization Facility	$ 800
Receivables Securitization Facility, Duration (Year)	3 years
Value Outstanding, Undivided Interest Held by Investors Under Receivables Securitization Facility	$ 100	300
Accounts Receivable, Supporting Undivided Investor Held Interest	1,600	1,300
Interest Expense, Total	$ 1,271	1,157	$ 1,141
Receivables Securitization Facility, Maturity Date	Jul. 31, 2025
Asset-Backed Securities, Securitized Loans and Receivables [Member]
Accounts Receivable, from Securitization, Default or Dilution Ratio	1%
Interest Expense, Total	$ 10	4	$ 7
Maximum [Member]
Total Transfer Capacity, Undivided Interests to Investors under Receivables Securitization Facility	800
Other Assets [Member]
Accounts Receivable, Allowance for Credit Loss, Noncurrent	$ 58	$ 51

Note 11 - Properties (Details T

Note 11 - Properties (Details Textual) $ in Billions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Number of Depreciable Asset Classes	60
Cost of Property Repairs and Maintenance	$ 2.4	$ 2.1	$ 2
Railroad Transportation Equipment [Member]
Term of Depreciation Studies (Year)	3 years
Railroad Transportation Track Assets [Member]
Term of Depreciation Studies (Year)	6 years

Note 11 - Properties - Schedule

Note 11 - Properties - Schedule of Property and Equipment Major Categories (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Property, Plant and Equipment, Cost		$ 79,255		$ 77,275
Property, Plant and Equipment, Net		56,038		54,871
Property, Plant and Equipment, Accumulated Depreciation		23,217		22,404
Land [Member]
Property, Plant and Equipment, Cost		5,344		5,339
Property, Plant and Equipment, Net		5,344		5,339
Roadrail and Other Track Material [Member]
Property, Plant and Equipment, Cost		18,419		17,980
Property, Plant and Equipment, Net		11,323		11,136
Property, Plant and Equipment, Accumulated Depreciation		$ 7,096		$ 6,844
Property, Plant and Equipment, Useful Life (Year)		43 years		44 years
Road Ties [Member]
Property, Plant and Equipment, Cost		$ 11,676		$ 11,364
Property, Plant and Equipment, Net		7,977		7,848
Property, Plant and Equipment, Accumulated Depreciation		$ 3,699		$ 3,516
Property, Plant and Equipment, Useful Life (Year)		34 years		34 years
Road Ballast [Member]
Property, Plant and Equipment, Cost		$ 6,222		$ 6,070
Property, Plant and Equipment, Net		4,272		4,218
Property, Plant and Equipment, Accumulated Depreciation		$ 1,950		$ 1,852
Property, Plant and Equipment, Useful Life (Year)		34 years		34 years
Road, Other [Member]
Property, Plant and Equipment, Cost	[1]	$ 22,411		$ 21,593
Property, Plant and Equipment, Net		17,441	[1]	16,936
Property, Plant and Equipment, Accumulated Depreciation		$ 4,970	[1]	$ 4,657
Property, Plant and Equipment, Useful Life (Year)		47 years	[1]	47 years
Road [Member]
Property, Plant and Equipment, Cost		$ 58,728		$ 57,007
Property, Plant and Equipment, Net		41,013		40,138
Property, Plant and Equipment, Accumulated Depreciation		17,715		16,869
Equipment, Locomotives [Member]
Property, Plant and Equipment, Cost		9,166		9,371
Property, Plant and Equipment, Net		5,560		5,592
Property, Plant and Equipment, Accumulated Depreciation		$ 3,606		$ 3,779
Property, Plant and Equipment, Useful Life (Year)		18 years		17 years
Equipment, Freight Cars [Member]
Property, Plant and Equipment, Cost		$ 2,562		$ 2,227
Property, Plant and Equipment, Net		1,664		1,405
Property, Plant and Equipment, Accumulated Depreciation		$ 898		$ 822
Property, Plant and Equipment, Useful Life (Year)		23 years		24 years
Equipment, Work Equipment and Other [Member]
Property, Plant and Equipment, Cost		$ 1,253		$ 1,161
Property, Plant and Equipment, Net		780		750
Property, Plant and Equipment, Accumulated Depreciation		$ 473		$ 411
Property, Plant and Equipment, Useful Life (Year)		17 years		18 years
Equipment [Member]
Property, Plant and Equipment, Cost		$ 12,981		$ 12,759
Property, Plant and Equipment, Net		8,004		7,747
Property, Plant and Equipment, Accumulated Depreciation		4,977		5,012
Technology Equipment [Member]
Property, Plant and Equipment, Cost		1,254		1,209
Property, Plant and Equipment, Net		729		686
Property, Plant and Equipment, Accumulated Depreciation		$ 525		$ 523
Property, Plant and Equipment, Useful Life (Year)		12 years		12 years
Construction in Progress [Member]
Property, Plant and Equipment, Cost		$ 948		$ 961
Property, Plant and Equipment, Net		948		961
Property, Plant and Equipment, Accumulated Depreciation		$ 0		$ 0
[1]Other roadway includes grading, bridges and tunnels, signals, buildings, and other road assets.

Note 12 - Accounts Payable an_3

Note 12 - Accounts Payable and Other Current Liabilities - Schedule of Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Compensation-related accruals [a]	[1]	$ 938	$ 654
Accounts payable		784	752
Income and other taxes payable		628	823
Interest payable		379	330
Accrued casualty costs		242	187
Other [a]	[1]	431	404
Total accounts payable and other current liabilities		3,842	3,578
Equipment [Member]
Equipment rents payable		109	98
Accounts payable and Other Current Liabilities [Member]
Current operating lease liabilities (Note 16)		$ 331	$ 330
[1]Prior periods have been reclassified to conform to the current period financial statement presentation.

Note 13 - Financial Instrumen_2

Note 13 - Financial Instruments (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Current	$ 46	$ 46
Debt Instrument, Fair Value Disclosure, Total	28,100	32,900
Fair Value of Total Debt Less of Carrying Value	5,200
Fair Value of Total Debt in Excess of Carrying Value		3,200
Fair Value, Inputs, Level 2 [Member] | Bank Time Deposits and Government Agency Securities [Member]
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Current	$ 46	$ 46

Note 14 - Debt (Details Textual

Note 14 - Debt (Details Textual) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Apr. 15, 2022	Apr. 06, 2021	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 03, 2022	Feb. 02, 2022
Property, Plant and Equipment, Net, Total				$ 56,038,000	$ 54,871,000
Debt Conversion, Converted Instrument, Amount				0	100,000	$ 250,000
Proceeds from Issuance of Commercial Paper				3,200,000
Repayments of Commercial Paper				$ 3,400,000
Commercial Paper, Maturity Duration, Minimum (Day)				7 days
Commercial Paper Maturity Duration, Maximum (Year)				88 years
Commercial Paper				$ 200,000	400,000
Board of Directors Authorized Debt Issuance							$ 12,000,000
Previous Board of Directors Remaining Debt Issuance								$ 2,500,000
Board of Directors Remaining Debt Issuance				6,600,000
Long-Term Debt, Gross				35,101,000
Secured Debt [Member]
Long-Term Debt, Gross				100,000	300,000
Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 2,000,000	2,000,000
Long-Term Line of Credit, Total				0
Allowable Debt Per Debt to Net Worth Coverage Ratio as Defined Facility				46,900,000
Outstanding Debt as Defined by Facility				35,100,000
Cross Default Provision as Defined By Facility				$ 150,000
Line of Credit Facility, Expiration Date			Jun. 08, 2023	May 20, 2027
Conversion of Existing Notes [Member]
Debt Conversion, Original Debt, Amount		$ 1,700,000
Payment of Financing and Stock Issuance Costs, Total		257,000
Gain (Loss) on Extinguishment of Debt, Total		$ 0
Debt Conversion, Converted Instrument, Issuance Date		Apr. 06, 2021
Conversion of Existing Notes [Member] | Interest Expense [Member]
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction		$ 13,000
Conversion of Existing Notes into New 2036 Notes [Member]
Debt Conversion, Converted Instrument, Amount		$ 701,000
Debt Conversion, Converted Instrument, Rate		2.891%
Debt Conversion, Converted Instrument, Expiration or Due Date		Apr. 06, 2036
Conversion of Existing Notes into New 2071 Notes [Member]
Debt Conversion, Converted Instrument, Amount		$ 1,000,000
Debt Conversion, Converted Instrument, Rate		3.799%
Debt Conversion, Converted Instrument, Expiration or Due Date		Apr. 06, 2071
Existing Notes [Member]
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total		$ 14,000
4.163% Notes, Due July 15, 2022 [Member]
Debt Instrument, Repurchase Amount	$ 750,000
Debt Instrument, Interest Rate, Stated Percentage	4.163%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	100%
Debt Instrument, Repurchase Date	Apr. 15, 2022
4.950% Notes, Due September 9, 2052 [Member]
Debt Instrument, Interest Rate, Stated Percentage				4.95%
Debt Conversion, Converted Instrument, Expiration or Due Date				Sep. 09, 2052
Equipment [Member]
Property, Plant and Equipment, Net, Total				$ 8,004,000	7,747,000
Asset Pledged as Collateral [Member] | Equipment [Member]
Property, Plant and Equipment, Net, Total				$ 903,000	$ 1,200,000

Note 14 - Debt - Schedule of De

Note 14 - Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument	$ 35,101
Unamortized discount and deferred issuance costs	(1,775)	$ (1,763)
Total debt	33,326	29,729
Less: current portion	(1,678)	(2,166)
Total long-term debt	31,648	27,563
Notes Payable to Banks [Member]
Debt Instrument	33,658	29,508
Equipment Trust Certificate [Member]
Debt Instrument	809	848
Finance Lease [Member]
Debt Instrument	234	336
Commercial Paper [Member]
Debt Instrument	200	400
Secured Debt [Member]
Debt Instrument	100	300
Loans Payable [Member]
Debt Instrument	$ 100	$ 100

Note 14 - Debt - Schedule of _2

Note 14 - Debt - Schedule of Debt (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2022
Notes Payable to Banks [Member]
Debt Instrument, Maturity Date	Feb. 14, 2072
Notes Payable to Banks [Member] | Minimum [Member]
Debt Instrument, Interest Rate	2.20%
Notes Payable to Banks [Member] | Maximum [Member]
Debt Instrument, Interest Rate	7.10%
Equipment Trust Certificate [Member]
Debt Instrument, Maturity Date	Jan. 02, 2031
Equipment Trust Certificate [Member] | Minimum [Member]
Debt Instrument, Interest Rate	2.60%
Equipment Trust Certificate [Member] | Maximum [Member]
Debt Instrument, Interest Rate	6.20%
Finance Lease [Member]
Debt Instrument, Maturity Date	Dec. 10, 2028
Finance Lease [Member] | Minimum [Member]
Debt Instrument, Interest Rate	3.10%
Finance Lease [Member] | Maximum [Member]
Debt Instrument, Interest Rate	8%
Commercial Paper [Member]
Debt Instrument, Maturity Date	Jan. 17, 2023
Commercial Paper [Member] | Minimum [Member]
Debt Instrument, Interest Rate	3.30%
Commercial Paper [Member] | Maximum [Member]
Debt Instrument, Interest Rate	4.70%
Loans Payable [Member]
Debt Instrument, Maturity Date	Aug. 31, 2023

Note 14 - Debt - Schedule of _3

Note 14 - Debt - Schedule of Debt Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
2023	$ 1,681
2024	1,434
2025	1,528
2026	1,015
2027	1,285
Thereafter	28,158
Long-Term Debt, Gross	35,101
Unamortized discount and deferred issuance costs	(1,775)	$ (1,763)
Total debt	$ 33,326	$ 29,729

Note 14 - Debt - Schedule of Un

Note 14 - Debt - Schedule of Unsecured Debt (Details) - Unsecured Debt [Member] $ in Millions	Dec. 31, 2022 USD ($)
2.8% Notes, Due February 14, 2032 [Member]
Debt Instrument	$ 1,250
3.375% Notes, Due February 14, 2042 [Member]
Debt Instrument	500
The 3.5% Notes, Due February 14, 2053 [Member]
Debt Instrument	1,250
3.85% Notes, Due February 14, 2072 [Member]
Debt Instrument	500
4.500% Notes Due January 20, 2033 [Member]
Debt Instrument	900
4.950% Notes, Due September 9, 2052 [Member]
Debt Instrument	600
5.150% Notes Due January 20, 2063 [Member]
Debt Instrument	$ 400

Note 14 - Debt - Schedule of _4

Note 14 - Debt - Schedule of Unsecured Debt (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2022
4.950% Notes, Due September 9, 2052 [Member]
Debt Instrument, Interest Rate	4.95%
Unsecured Debt [Member] | 2.8% Notes, Due February 14, 2032 [Member]
Debt Instrument, Interest Rate	2.80%
Debt Instrument, Maturity Date	Feb. 14, 2032
Unsecured Debt [Member] | 3.375% Notes, Due February 14, 2042 [Member]
Debt Instrument, Interest Rate	3.375%
Debt Instrument, Maturity Date	Feb. 14, 2042
Unsecured Debt [Member] | The 3.5% Notes, Due February 14, 2053 [Member]
Debt Instrument, Interest Rate	3.50%
Debt Instrument, Maturity Date	Feb. 14, 2053
Unsecured Debt [Member] | 3.85% Notes, Due February 14, 2072 [Member]
Debt Instrument, Interest Rate	3.85%
Debt Instrument, Maturity Date	Feb. 14, 2072
Unsecured Debt [Member] | 4.500% Notes Due January 20, 2033 [Member]
Debt Instrument, Interest Rate	4.50%
Debt Instrument, Maturity Date	Jan. 20, 2033
Unsecured Debt [Member] | 4.950% Notes, Due September 9, 2052 [Member]
Debt Instrument, Interest Rate	4.95%
Debt Instrument, Maturity Date	Sep. 09, 2052
Unsecured Debt [Member] | 5.150% Notes Due January 20, 2063 [Member]
Debt Instrument, Interest Rate	5.15%
Debt Instrument, Maturity Date	Jan. 20, 2063

Note 15 - Variable Interest E_2

Note 15 - Variable Interest Entities (Details Textual) $ in Millions	Dec. 31, 2022 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Total	$ 1,803
Variable Interest Entity, Not Primary Beneficiary [Member]
Lessee, Operating Lease, Liability, to be Paid, Total	$ 958

Note 16 - Leases (Details Textu

Note 16 - Leases (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 658	$ 687

Note 16 - Leases - Schedule of

Note 16 - Leases - Schedule of Lessee's Assets and Liabilities (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Operating leases		$ 1,672	$ 1,787
Total leased assets		1,982	2,153
Operating, liabilities		1,300	1,429
Total lease liabilities		1,865	2,095
Properties, Net [Member]
Finance leases	[1]	310	366
Accounts payable and Other Current Liabilities [Member]
Operating, liabilities		331	330
Debt Due Within One Year [Member]
Finance, liabilities		67	92
Debt Due After One Year [Member]
Finance, liabilities		$ 167	$ 244
[1]Finance lease assets are recorded net of accumulated amortization of $658 million and $687 million as of December 31, 2022 and 2021, respectively.

Note 16 - Leases - Schedule o_2

Note 16 - Leases - Schedule of Lease Costs (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Operating lease cost [a]	[1]	$ 338	$ 303
Short-term lease cost		18	25
Variable lease cost		13	11
Amortization of leased assets [b]	[2]	52	69
Interest on lease liabilities [c]	[3]	12	20
Net lease cost		$ 433	$ 428
[1]Operating lease cost is primarily reported in equipment and other rents in our Consolidated Statements of Income.[2]Amortization of leased assets is reported in depreciation in our Consolidated Statements of Income.[3]Interest on lease liabilities is reported in interest expense in our Consolidated Statements of Income.

Note 16 - Leases - Schedule o_3

Note 16 - Leases - Schedule of Lease Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
2023, Operating lease	$ 335
2023, Finance lease	76
2023, Leases	411
2024, Operating lease	318
2024, Finance lease	63
2024, Leases	381
2025, Operating lease	321
2025, Finance lease	44
2025, Leases	365
2026, Operating lease	248
2026, Finance lease	35
2026, Leases	283
2027, Operating lease	188
2027, Finance lease	30
2027, Leases	218
After 2027, Operating Lease	393
After 2027, Finance Lease	11
After 2027, Leases	404
Total Operating lease payments	1,803
Total Finance lease payments	259
Total lease payments	2,062
Less: Interest, Operating Lease	172
Less: Interest, Finance Lease	25
Less: Interest	197
Present value of Operating lease liabilities	1,631
Present value of lease liabilities	1,865	$ 2,095
Long-Term Debt [Member]
Present value of Finance lease liabilities	$ 234

Note 16 - Leases - Schedule o_4

Note 16 - Leases - Schedule of Leases Term and Discount Rate (Details)	Dec. 31, 2022
Operating leases (Year)	6 years 4 months 24 days
Finance leases (Year)	4 years 2 months 12 days
Operating leases	3.30%
Finance leases	4.70%

Note 16 - Leases - Schedule o_5

Note 16 - Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating cash flows from operating leases	$ 319	$ 292
Investing cash flows from operating leases	31	27
Operating cash flows from finance leases	15	26
Financing cash flows from finance leases	91	106
Leased assets obtained in exchange for finance lease liabilities	0	0
Leased assets obtained in exchange for operating lease liabilities	$ 173	$ 442

Note 17 - Commitments and Con_3

Note 17 - Commitments and Contingencies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Sites Identified	353
Sites Subject of Actions Taken by US Government	31
Sites on Superfund National Priorities List	20
Personal Injury [Member]
Recorded Liability Related to Asserted Claims	93%
Recorded Liability Related to Unasserted Claims	7%
Personal Injury [Member] | Minimum [Member]
Loss Contingency, Estimate of Possible Loss	$ 361
Personal Injury [Member] | Maximum [Member]
Loss Contingency, Estimate of Possible Loss	$ 397

Note 17 - Commitments and Con_4

Note 17 - Commitments and Contingencies - Personal Injury Liability Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance, Current	$ 242	$ 187
Personal Injury [Member]
Balance	325	270	$ 265
Current year accruals	107	93	72
Changes in estimates for prior years	55	48	(3)
Payments	(126)	(86)	(64)
Balance	361	325	270
Balance, Current	$ 84	$ 64	$ 60

Note 17 - Commitments and Con_5

Note 17 - Commitments and Contingencies - Environmental Liability Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Beginning	$ 243	$ 233	$ 227
Accruals	84	69	76
Payments	(74)	(59)	(70)
Balance	253	243	233
Balance, Current	$ 67	$ 60	$ 65

Note 18 - Share Repurchase Pr_3

Note 18 - Share Repurchase Programs (Details Textual) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended													9 Months Ended	12 Months Ended			36 Months Ended
		Feb. 18, 2022	May 26, 2021	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022		Mar. 31, 2022		Dec. 31, 2021	Sep. 30, 2021		Jun. 30, 2021		Mar. 31, 2021	[2]	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2022	Apr. 01, 2022
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)								150,000,000													150,000,000	100,000,000
Treasury Stock, Shares, Acquired (in shares)				3,501,667	9,490,339	3,100,683	[1]	11,014,201	[2]	5,837,551	8,604,239	[3]	12,204,409	[1]	6,691,421		16,100,000	27,106,890	33,337,620		83,300,000
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)	[4]			$ 201.33	$ 221.52	$ 232.87	[1]	$ 249.95	[2]	$ 233.71	$ 210.31	[3]	$ 222.46	[1]	$ 209.50			$ 231.76	$ 218.69
Treasury Stock, Value, Acquired, Cost Method, Including Amount Paid in Excess																		$ 6,282	$ 7,291	$ 3,705
Accelerated Share Repurchase Programs (ASRs) [Member]
Treasury Stock, Shares, Acquired (in shares)		7,012,232	7,209,156			1,847,185		7,012,232			1,983,859		7,209,156
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)																		$ 248.32	$ 217.56
Treasury Stock, Value, Acquired, Cost Method, Including Amount Paid in Excess		$ 2,200	$ 2,000
[1]Includes an incremental 1,847,185 shares received upon final settlement in 2022 and 7,209,156 shares repurchased in 2021 under accelerated share repurchase programs.[2]Includes 7,012,232 shares repurchased in 2022 under accelerated share repurchase programs.[3]Includes an incremental 1,983,859 shares received upon final settlement in 2021 under accelerated share repurchase programs.[4]In the period of the final settlement, the average price paid under the accelerated share repurchase programs is calculated based on the total program value less the value assigned to the initial delivery of shares. The average price of the completed 2022 and 2021 accelerated share repurchase programs was $248.32 and $217.56, respectively.

Note 18 - Share Repurchase Pr_4

Note 18 - Share Repurchase Programs - Schedule of Share Repurchase Programs (Details) - $ / shares		3 Months Ended													9 Months Ended	12 Months Ended		36 Months Ended
		Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	[1]	Mar. 31, 2022	[2]	Dec. 31, 2021	Sep. 30, 2021	[3]	Jun. 30, 2021	[1]	Mar. 31, 2021	[2]	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Treasury Stock, Number of Shares Purchased (in shares)		3,501,667	9,490,339	3,100,683		11,014,201		5,837,551	8,604,239		12,204,409		6,691,421		16,100,000	27,106,890	33,337,620	83,300,000
Treasury Stock, Average Price per Share (in dollars per share)	[4]	$ 201.33	$ 221.52	$ 232.87		$ 249.95		$ 233.71	$ 210.31		$ 222.46		$ 209.50			$ 231.76	$ 218.69
Remaining number of shares that may be repurchased under current authority (in shares)		83,907,311													83,907,311	83,907,311
[1]Includes an incremental 1,847,185 shares received upon final settlement in 2022 and 7,209,156 shares repurchased in 2021 under accelerated share repurchase programs.[2]Includes 7,012,232 shares repurchased in 2022 under accelerated share repurchase programs.[3]Includes an incremental 1,983,859 shares received upon final settlement in 2021 under accelerated share repurchase programs.[4]In the period of the final settlement, the average price paid under the accelerated share repurchase programs is calculated based on the total program value less the value assigned to the initial delivery of shares. The average price of the completed 2022 and 2021 accelerated share repurchase programs was $248.32 and $217.56, respectively.

Note 19 - Related Parties (Deta

Note 19 - Related Parties (Details Textual) - UPRR [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
TTX Company [Member]
Accounts Payable, Related Parties, Current	$ 68	$ 57
TTX Company [Member] | Car Hire Expenses [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 402	375	$ 375
TTX Company [Member]
Equity Method Investment, Ownership Percentage	37.03%
Equity Method Investments	$ 1,700	$ 1,600