Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Union Pacific Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Freight revenues	22,571)	23,159)	20,244)	18,251)	20,243)
Other revenues	1,548)	1,716)	1,560)	1,282)	1,465)
Operating revenues	24,119)	24,875)	21,804)	19,533)	21,708)
Compensation and benefits	(4,818)	(4,645)	(4,158)	(3,993)	(4,533)
Fuel	(2,891)	(3,439)	(2,049)	(1,314)	(2,107)
Purchased services and materials	(2,616)	(2,442)	(2,016)	(1,962)	(2,254)
Depreciation	(2,318)	(2,246)	(2,208)	(2,210)	(2,216)
Equipment and other rents	(947)	(898)	(859)	(875)	(984)
Other	(1,447)	(1,288)	(1,176)	(1,345)	(1,060)
Operating expenses	(15,037)	(14,958)	(12,466)	(11,699)	(13,154)
Operating income	9,082)	9,917)	9,338)	7,834)	8,554)
Real estate income	414)	381)	263)	264)	—)
Net periodic pension costs	52)	84)	25)	41)	46)
Interest income	52)	23)	4)	—)	—)
Environmental remediation and restoration	(37)	(47)	(17)	(30)	—)
Gain from sale of investment	—)	—)	36)	—)	—)
Other	10)	(15)	(14)	12)	197)
Other income, net	491)	426)	297)	287)	243)
Interest expense	(1,340)	(1,271)	(1,157)	(1,141)	(1,050)
Income before income taxes	8,233)	9,072)	8,478)	6,980)	7,747)
Income tax expense	(1,854)	(2,074)	(1,955)	(1,631)	(1,828)
Net income	6,379)	6,998)	6,523)	5,349)	5,919)

Based on: 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), 10-K (reporting date: 2019-12-31).

Download chart

Income statement item	Description	The company
Operating revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Union Pacific Corp. operating revenues increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Union Pacific Corp. operating income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Union Pacific Corp. income before income taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Union Pacific Corp. net income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Union Pacific Corp. (NYSE:UNP)

Income Statement