UNP · 10-Q · 2026Q2 · Full report

Liquidity and Capital Position

UNION PACIFIC CORP · 2026-07-23 · Importance 50 · Surprise 24 · In source text

Management states that scenario analyses indicate sufficient borrowing capacity to sustain an extended period of lower volume. As of June 30, 2026, Union Pacific had $1.6 billion of cash and cash equivalents, $500 million of short-term investments, $2.0 billion available under its revolving credit facility, and $600 million undrawn under its Receivables Facility. The Company reported compliance with its debt covenants and generated $5.5 billion of operating cash flow during the first six months of 2026.

Key facts

• At June 30, 2026, Union Pacific had $1.6 billion of cash and cash equivalents, $500 million of short-term investments, $2.0 billion of credit available under its revolving credit facility, and $600 million undrawn on the Receivables Facility. source
• The contractual obligations total as of June 30, 2026 were $60,899 million, with $48,040 million due after 2030. source
• Free cash flow for the six months ended June 30, 2026: $1,812 million (cash provided by operating activities $5,516 million less cash used in investing activities $2,064 million and dividends paid $1,640 million). source
• Cash flow conversion rate for the six months ended June 30, 2026: 100% (cash provided by operating activities less cash used for capital investments $3,706 divided by net income $3,694). source

Impact estimates