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Properties
12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Properties Properties
  AccumulatedNet BookDepreciation
December 31, 2022CostDepreciationValue
Rate (1)
 ($ in millions)
Land$2,405 $— $2,405                 —
Roadway:    
Rail and other track material7,589 (1,971)5,618 2.42 %
Ties5,981 (1,696)4,285 3.49 %
Ballast3,126 (873)2,253 2.84 %
Construction in process431 — 431                 —
Other roadway14,270 (3,948)10,322 2.69 %
Total roadway31,397 (8,488)22,909  
Equipment:    
Locomotives5,878 (2,060)3,818 3.66 %
Freight cars2,701 (1,033)1,668 2.51 %
Computers and software926 (476)450 9.10 %
Construction in process206 — 206                 —
Other equipment1,145 (463)682 4.51 %
Total equipment10,856 (4,032)6,824  
Other property90 (72)18 2.26 %
Total properties$44,748 $(12,592)$32,156  
 
  AccumulatedNet BookDepreciation
December 31, 2021CostDepreciationValue
Rate (1)
 ($ in millions)
Land$2,453 $— $2,453                 —
Roadway:    
Rail and other track material7,330 (1,907)5,423 2.40 %
Ties5,779 (1,642)4,137 3.44 %
Ballast3,041 (818)2,223 2.79 %
Construction in process339 — 339                 —
Other roadway14,111 (3,733)10,378 2.69 %
Total roadway30,600 (8,100)22,500  
Equipment:    
Locomotives5,695 (1,994)3,701 3.87 %
Freight cars2,701 (1,009)1,692 2.59 %
Computers and software893 (438)455 10.34 %
Construction in process164 — 164                 —
Other equipment1,088 (420)668 4.63 %
Total equipment10,541 (3,861)6,680  
Other property90 (70)20 2.25 %
Total properties$43,684 $(12,031)$31,653  

(1)Composite annual depreciation rate for the underlying assets, excluding the effects of the amortization of any deficiency (or excess) that resulted from our depreciation studies.
 
Loss on Asset Disposal

In 2020, we sold 703 locomotives deemed excess and no longer needed for railroad operations. We evaluated these locomotive retirements and concluded they were abnormal (see Note 1). Accordingly, we recorded a $385 million loss to adjust their carrying amount to their estimated fair value, which resulted in a $97 million tax benefit.

Capitalized Interest
 
Total interest cost incurred on debt was $708 million, $657 million, and $639 million during 2022, 2021 and 2020, respectively, of which $16 million, $11 million, and $14 million was capitalized during 2022, 2021 and 2020, respectively.