Stock Analysis on Net
Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Union Pacific Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Accounts payable
Compensation-related accruals
Income and other taxes payable
Interest payable
Current operating lease liabilities
Accrued casualty costs
Equipment rents payable
Other
Accounts payable and other current liabilities
Debt due within one year
Current liabilities
Debt due after one year
Noncurrent operating lease liabilities
Deferred income taxes
Other long-term liabilities
Long-term liabilities
Total liabilities
Common shares, $2.50 par value
Paid-in-surplus
Retained earnings
Treasury stock
Accumulated other comprehensive loss
Common shareholders’ equity
Total liabilities and common shareholders’ equity

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Accounts Payable
The proportion of accounts payable relative to total liabilities and common shareholders’ equity increased steadily from 0.98% in 2020 to 1.28% in 2023, followed by a slight decrease to 1.25% in 2024, indicating a gradual increase in short-term payables with minor recent moderation.
Compensation-Related Accruals
This item exhibited a notable increase from 0.54% in 2020 to a peak of 1.43% in 2022, before declining to 0.79% in 2023 and slightly rising to 0.91% in 2024. The trend suggests a spike in accrued staff-related liabilities around 2022, followed by a reduction and stabilization.
Income and Other Taxes Payable
The ratio fluctuated moderately, rising from 1.02% in 2020 to 1.30% in 2021, then declining to 0.96% in 2022, and hovering near 1% in subsequent years. This reflects variable tax liabilities over the period with no clear directional trend.
Interest Payable
Interest payable remained relatively stable, fluctuating slightly around 0.52% to 0.58%, before a minor reduction to 0.55% in 2024, indicating consistent interest obligations with minimal variation.
Current Operating Lease Liabilities
The values were stable throughout the period, ranging narrowly between 0.51% and 0.53%, suggesting consistent short-term lease commitments.
Accrued Casualty Costs
This liability showed a persistent increase from 0.28% in 2020 to 0.47% in 2024, implying growing accruals related to casualty expenses over the years.
Equipment Rents Payable
The ratio remained nearly constant, oscillating between 0.15% and 0.17%, indicating stable equipment rent liabilities.
Other Current Liabilities
These liabilities decreased from 0.95% in 2020 to around 0.64%-0.69% between 2021 and 2023, then increased to 0.91% in 2024, showing some volatility with a recovery in the last period.
Accounts Payable and Other Current Liabilities (aggregate)
The aggregate current liabilities of this nature rose from 4.97% in 2020 to a peak of 5.87% in 2022, decreased to 5.49% in 2023, then slightly increased to 5.65% in 2024, reflecting fluctuations consistent with components described above.
Debt Due Within One Year
This short-term debt increased significantly from 1.71% in 2020 to 3.41% in 2021, then declined consistently to 2.10% by 2024, indicating an initial reliance on short-term borrowing followed by repayment or refinancing.
Current Liabilities (Total)
The total current liabilities increased markedly from 6.69% in 2020 to 9.04% in 2021, then steadily decreased to 7.76% in 2024, suggesting a reduction in short-term obligations after a peak in 2021.
Debt Due After One Year
Long-term debt rose from 41.12% in 2020 to a peak of 48.36% in 2022, followed by a decline to 43.96% in 2024, indicating increased long-term borrowing until 2022 with subsequent moderation.
Noncurrent Operating Lease Liabilities
These liabilities decreased from 2.06% in 2020 to 1.37% in 2024, showing a gradual reduction in long-term lease commitments.
Deferred Income Taxes
The ratio for deferred income taxes remained largely stable, fluctuating slightly but holding near 19.5% throughout the period, indicating a consistent deferred tax position.
Other Long-Term Liabilities
These liabilities declined gradually from 3.33% in 2020 to 2.55% in 2023 and held steady in 2024, reflecting a reduction in miscellaneous long-term obligations.
Long-Term Liabilities (Total)
The overall long-term liabilities increased from 66.14% in 2020 to a peak of 72.98% in 2022 before decreasing to 67.30% in 2024, mirroring the patterns observed in long-term debt and other noncurrent liabilities.
Total Liabilities
Total liabilities rose from 72.82% in 2020 to 81.42% in 2022, then decreased progressively to 75.06% in 2024, displaying a tendency to increase in the first half of the observed period followed by reductions.
Common Shares, $2.50 par value
This component of equity decreased slightly from 4.46% in 2020 to 4.11% in 2024, indicating a minor reduction in this form of capital relative to total financing.
Paid-in-Surplus
The paid-in surplus remained stable near the 7.8% mark across all periods, signifying consistent additional paid-in capital.
Retained Earnings
Retained earnings as a percentage of total liabilities and shareholders’ equity steadily increased from 82.26% in 2020 to 96.92% in 2024, suggesting continued accumulation of earnings and strengthening of the equity base.
Treasury Stock
The treasury stock ratio decreased (became more negative) from -64.78% in 2020 to -82.89% in 2024, reflecting an increasing repurchase or holding of own shares, which offsets equity.
Accumulated Other Comprehensive Loss
This loss decreased from -2.55% in 2020 to -0.89% in 2022, then slightly increased to -1.07% in 2024, indicating some recovery followed by a modest rise in comprehensive losses.
Common Shareholders’ Equity (Total)
Equity declined from 27.18% of total financing in 2020 to 18.58% in 2022, before growing again to 24.94% in 2024. This shows a reduction in equity mid-period with recovery in later years.
Total Liabilities and Common Shareholders’ Equity
By definition, this sum remains constant at 100% for each period, serving as the baseline for relative proportion analyses.