Union Pacific Corporation (UNP)

Union Pacific Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7,213	7,138	6,747	6,379	6,998	6,523
Depreciation & Amortization	2,488	2,465	2,398	2,318	2,246	2,208
Other Adjustments	105	48	15	-15	110	98
Change in Receivables	-21	34	179	-177	-169	-217
Changes in Inventories	-91	-18	-26	-2	-120	17
Changes in Accounts Payable	-95	-196	189	-215	565	184
Changes in Income Taxes Payable	-143	-206	-87	129	-273	188
Changes in Other Operating Activities	64	25	-69	-38	5	31
Operating Cash Flow	9,520	9,290	9,346	8,379	9,362	9,032
Operating Cash Flow Growth	0.91%	-0.60%	11.54%	-10.50%	3.65%	5.76%
Capital Expenditures	-3,822	-3,791	-3,452	-3,606	-3,620	-2,936
Other Investing Activities	10	29	127	-61	149	227
Investing Cash Flow	-3,812	-3,762	-3,325	-3,667	-3,471	-2,709
Long-Term Debt Issued	-1	1,995	800	1,599	6,080	4,201
Long-Term Debt Repaid	-2,230	-1,428	-2,226	-2,190	-2,291	-1,299
Net Long-Term Debt Issued (Repaid)	-2,231	567	-1,426	-591	3,789	2,902
Repurchase of Common Stock	-1,259	-2,679	-1,505	-705	-6,282	-7,291
Net Common Stock Issued (Repurchased)	-1,259	-2,679	-1,505	-705	-6,282	-7,291
Common Dividends Paid	-3,253	-3,236	-3,213	-3,173	-3,159	-2,800
Other Financing Activities	64	72	77	-156	-235	31
Financing Cash Flow	-6,379	-5,276	-6,067	-4,625	-5,887	-7,158
Net Cash Flow	-671	252	-46	87	4	-835
Free Cash Flow	5,698	5,499	5,894	4,773	5,742	6,096
Free Cash Flow Growth	3.62%	-6.70%	23.49%	-16.88%	-5.81%	8.61%
FCF Margin	23.07%	22.44%	24.31%	19.79%	23.08%	27.96%
Free Cash Flow Per Share	9.60	9.23	9.68	7.82	9.20	9.30
Levered Free Cash Flow	3,383	5,984	4,274	4,374	9,590	9,117
Unlevered Free Cash Flow	6,132	5,947	6,405	5,623	6,453	6,877

Updated Apr 23, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q