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CONSOLIDATED INCOME STATEMENTS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement        
Revenue $ 3,292 $ 2,648 $ 9,095 $ 7,758
Expense        
Labor and Fringe 631 574 1,847 1,687
Purchased Services and Other [1] 577 382 1,490 1,272
Depreciation 367 348 1,060 1,036
Fuel 247 119 631 402
Equipment and Other Rents 94 88 269 247
Gains on Property Dispositions (60) (4) (430) (33)
Total Expense 1,856 1,507 4,867 4,611
Operating Income 1,436 1,141 4,228 3,147
Interest Expense (177) (187) (542) (565)
Other Income - Net 20 14 60 51
Earnings Before Income Taxes 1,279 968 3,746 2,633
Income Tax Expense (311) (232) (899) (628)
Net Earnings $ 968 $ 736 $ 2,847 $ 2,005
Per Common Share        
Net Earnings Per Share, Basic (in dollars per share) $ 0.43 $ 0.32 [2] $ 1.26 $ 0.87 [2]
Net Earnings Per Share, Assuming Dilution (in dollars per share) $ 0.43 $ 0.32 [2] $ 1.26 $ 0.87 [2]
Average Shares Outstanding (in shares) 2,237 2,295 [2] 2,263 2,302 [2]
Average Shares Outstanding, Assuming Dilution (in shares) 2,242 2,300 [2] 2,268 2,307 [2]
[1] Beginning third quarter 2021, the Company changed the name of Materials, Supplies and Other expense to Purchased Services and Other, which better describes the composition of this expense amount. This change in naming convention does not impact previously reported results.
[2] All prior period share and per share data has been retroactively adjusted to reflect the stock split effective June 28, 2021. Certain prior year data has been reclassified to conform to the current presentation.