Union Pacific Corp., adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	4,148)	3,952)	3,551)	4,214)	3,459)
Adjustments
Add: Allowance for doubtful accounts	9)	10)	10)	17)	4)
After Adjustment
Adjusted current assets	4,157)	3,962)	3,561)	4,231)	3,463)

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Union Pacific Corp., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	67,132)	65,449)	63,525)	62,398)	61,673)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for doubtful accounts	9)	10)	10)	17)	4)
After Adjustment
Adjusted total assets	67,141)	65,459)	63,535)	62,415)	61,677)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

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Union Pacific Corp., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	52,344)	53,286)	49,364)	45,440)	43,545)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Net deferred income tax liability²	13,123)	13,033)	12,675)	12,247)	11,992)
After Adjustment
Adjusted total liabilities	39,221)	40,253)	36,689)	33,193)	31,553)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Net deferred income tax liability. See details »

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Union Pacific Corp., adjusted common shareholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Common shareholders’ equity	14,788)	12,163)	14,161)	16,958)	18,128)
Adjustments
Less: Net deferred income tax asset (liability)¹	(13,123)	(13,033)	(12,675)	(12,247)	(11,992)
Add: Allowance for doubtful accounts	9)	10)	10)	17)	4)
After Adjustment
Adjusted common shareholders’ equity	27,920)	25,206)	26,846)	29,222)	30,124)

¹ Net deferred income tax asset (liability). See details »

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Union Pacific Corp., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Debt due within one year	1,423)	1,678)	2,166)	1,069)	1,257)
Debt due after one year	31,156)	31,648)	27,563)	25,660)	23,943)
Total reported debt	32,579)	33,326)	29,729)	26,729)	25,200)
Common shareholders’ equity	14,788)	12,163)	14,161)	16,958)	18,128)
Total reported capital	47,367)	45,489)	43,890)	43,687)	43,328)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current operating lease liabilities²	355)	331)	330)	321)	362)
Add: Noncurrent operating lease liabilities³	1,245)	1,300)	1,429)	1,283)	1,471)
Adjusted total debt	34,179)	34,957)	31,488)	28,333)	27,033)
Adjustments to Equity
Less: Net deferred income tax asset (liability)⁴	(13,123)	(13,033)	(12,675)	(12,247)	(11,992)
Add: Allowance for doubtful accounts	9)	10)	10)	17)	4)
Adjusted common shareholders’ equity	27,920)	25,206)	26,846)	29,222)	30,124)
After Adjustment
Adjusted total capital	62,099)	60,163)	58,334)	57,555)	57,157)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Noncurrent operating lease liabilities. See details »

⁴ Net deferred income tax asset (liability). See details »

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Union Pacific Corp., adjusted net income

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	6,379)	6,998)	6,523)	5,349)	5,919)
Adjustments
Add: Deferred income tax expense (benefit)¹	117)	262)	154)	340)	566)
Add: Increase (decrease) in allowance for doubtful accounts	(1)	—)	(7)	13)	1)
Add: Other comprehensive income (loss), net of deferred taxes	(32)	332)	679)	(237)	59)
After Adjustment
Adjusted net income	6,463)	7,592)	7,349)	5,465)	6,545)

¹ Deferred income tax expense (benefit). See details »

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Union Pacific Corp. (NYSE:UNP)

Adjustments to Financial Statements