Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
Union Pacific Corp. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Union Pacific Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Union Pacific Corp., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The financial statement information reveals fluctuating cash flows over the analyzed period, spanning from March 2021 to December 2025. Net income demonstrates relative stability, generally ranging between US$1.5 billion and US$1.9 billion, with some quarterly variations. However, a noticeable dip in net income is observed in the latter half of 2024 and early 2025. Operating activities consistently provide the largest source of cash inflow, though the amount varies significantly quarter to quarter.
- Operating Activities
- Cash provided by operating activities generally ranged from approximately US$1.9 billion to US$2.9 billion. A peak is observed in September 2022 (US$2.903 billion), followed by a decline. The period from March 2024 through December 2025 shows a more moderate range, between US$2.225 billion and US$2.522 billion. Adjustments to reconcile net income to cash provided by operating activities are substantial, often exceeding net income itself, indicating significant non-cash items impacting cash flow.
- Investing Activities
- Cash used in investing activities is consistently negative, primarily due to capital investments. Capital investments generally fall between US$772 million and US$1,045 million per quarter. Other investing activities have a smaller impact, fluctuating between positive and negative values, but generally remaining below US$100 million. A slight increase in other investing activities is observed in the latter part of the period.
- Financing Activities
- Financing activities demonstrate significant variability. Share repurchase programs represent a substantial cash outflow, particularly in 2021 and 2022, with a significant program in March 2021 (-US$1,347 million) and June 2021 (-US$2,738 million). Dividend payments consistently consume between US$700 million and US$820 million per quarter. Debt issuance and repayment fluctuate considerably, with notable debt issuance in 2021 and 2022, followed by repayments. Accelerated share repurchase programs also contribute to cash outflow in certain periods. Overall, cash used in financing activities is consistently negative, often exceeding US$1 billion per quarter.
- Working Capital
- Changes in current assets and liabilities exhibit considerable fluctuation. A significant outflow is observed in June 2021 (-US$164 million) and a substantial inflow in September 2022 (US$399 million). Accounts receivable, net, shows volatility, with both increases and decreases throughout the period. Accounts payable and other current liabilities also demonstrate significant swings, impacting overall cash flow. Income and other taxes also contribute to variability, with large outflows in certain quarters and inflows in others.
The deferred and other income taxes show a large negative value in December 2021 (-US$35 million) and December 2024 (-US$49 million), and a large positive value in September 2025 (US$295 million). Other operating activities, net, are generally negative, but with some positive values, and show a large negative value in December 2025 (-US$199 million). The net change in cash, cash equivalents, and restricted cash is positive in several quarters, but also negative in others, indicating inconsistent cash flow generation. The period from September 2024 through December 2025 shows a generally negative trend in net change in cash.