Union Pacific 2009 Annual Report Download - page 2

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2
Documents Incorporated by Reference – Portions of the registrant’ s definitive Proxy Statement for the
Annual Meeting of Shareholders to be held on May 6, 2010, are incorporated by reference into Part III of
this report. The registrant’ s Proxy Statement will be filed with the Securities and Exchange Commission
pursuant to Regulation 14A.
UNION PACIFIC CORPORATION
TABLE OF CONTENTS
Chairman’ s Letter ............................................................................................. 3
Directors and Senior Management ..................................................................... 4
PART I
Item 1. Business........................................................................................................... 5
Item 1A. Risk Factors ..................................................................................................... 10
Item 1B. Unresolved Staff Comments .............................................................................. 14
Item 2. Properties ......................................................................................................... 14
Item 3. Legal Proceedings ............................................................................................ 17
Item 4. Submission of Matters to a Vote of Security Holders .......................................... 19
Executive Officers of the Registrant and Principal Executive
Officers of Subsidiaries ............................................................................... 20
PART II
Item 5. Market for the Registrant’ s Common Equity, Related
Stockholder Matters, and Issuer Purchases of Equity
Securities .................................................................................................. 21
Item 6. Selected Financial Data ..................................................................................... 23
Item 7. Management’ s Discussion and Analysis of Financial
Condition and Results of Operations ............................................................ 24
Critical Accounting Policies .............................................................................. 47
Cautionary Information ..................................................................................... 53
Item 7A. Quantitative and Qualitative Disclosures About Market Risk ............................... 54
Item 8. Financial Statements and Supplementary Data .................................................... 55
Report of Independent Registered Public Accounting Firm.................................. 56
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure ........................................................... 95
Item 9A. Controls and Procedures.................................................................................... 95
Mana gement’ s Annual Report on Internal Control Over
Financial Reporting .................................................................................... 96
Report of Independent Registered Public Accounting Firm.................................. 97
Item 9B. Other Information ............................................................................................. 98
PART III
Item 10. Directors, Executive Officers, and Corporate Governance ................................... 98
Item 11. Executive Compensation ................................................................................... 98
Item 12. Security Ownership of Certain Beneficial Owners and
Management and Related Stockholder Matters ............................................. 99
Item 13. Certain Relationships and Related Transactions and
Director Independence ................................................................................ 99
Item 14. Principal Accountant Fees and Services ............................................................. 99
PART IV
Item 15. Exhibits, Financial Statement Schedules............................................................. 100
Signatures ........................................................................................................ 101
Certifications.................................................................................................... 112