Common-Size Balance Sheet: Assets
Quarterly Data
Union Pacific Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets showed variability over the period analyzed. Starting at 1.82% in early 2020, it peaked at 4.26% in mid-2020 before generally declining through 2021. From 2022 onward, it fluctuated between about 1.1% and 2.1%, ending near 1.18% in late 2025, indicating a gradual reduction in liquidity relative to asset size.
- Accounts Receivable, Net
- Accounts receivable as a percentage of total assets trended upward from 2.68% in early 2020 to a peak near 3.21% in mid-2024. This upward trend suggests a growing proportion of credit sales or outstanding collections. Following this high point, there was a modest decline toward 2.8% by late 2025, though values remained above the initial levels.
- Materials and Supplies
- This category remained relatively stable throughout the period, mostly fluctuating between 1.0% and 1.2%. A slight upward trend was observed from mid-2022, where values moved from near 1.13% to peaks close to 1.19%, before settling around 1.14% by the end of 2025. This indicates consistent inventory management relative to total assets.
- Other Current Assets
- Other current assets displayed minor fluctuations, typically ranging between 0.4% and 0.6%. There was a notable peak around mid-2024 reaching approximately 0.64%, which indicates a temporary increase in miscellaneous current asset holdings. Towards the end of the period, values stabilized near the mid-range.
- Current Assets
- The aggregate of current assets as a percentage of total assets showed a decrease from about 8.0% in mid-2020 to lows near 5.6% in early 2021. Following this, the proportion mostly ranged between approximately 5.7% and 6.6%, with intermittent variability but no strong long-term trend. This illustrates a moderate contraction and stabilization of current asset share against total assets over time.
- Investments
- Investment holdings demonstrated a gradual increase in their share of total assets, rising from roughly 3.3% in early 2020 to over 4.1% by late 2025. This upward trajectory reflects a strategic growth in investment assets relative to total asset base.
- Properties, Net
- Net properties consistently represented the largest component of total assets, generally around 85% to 87%. The data shows slight oscillations but a notably stable major asset base. The share decreased marginally from approximately 87.5% in 2021 to slightly below 85.5% at various points in subsequent years, before ending near 86.5% in late 2025.
- Operating Lease Assets
- Operating lease assets showed a clear declining trend, starting near 2.85% of total assets in early 2020 and reducing steadily to approximately 1.6% by late 2025. This indicates a decrease in lease-related asset holdings or a shift away from operating leases during the period.
- Other Assets
- Other assets increased their share of total assets from under 1% in early 2020 to a peak of around 2.27% in early 2023. After this peak, the level remained fairly stable, fluctuating slightly above 2.0% through late 2025, suggesting an increase and sustained allocation in this asset category.
- Long-Term Assets
- Long-term assets as a percentage of total assets remained dominant and relatively consistent, oscillating around 93% to 94% throughout the period. This stable proportion highlights the company's sustained focus on long-term asset investment over these years.
- Total Assets
- Total assets were used as the base measure (100%) for assessing all other categories, ensuring that all other reported figures are relative to this standard.