Form 10-K - Union Pacific

19. Selected Quarterly Data (Unaudited)
Millions, Except Per Share Amounts
2011 Mar. 31 Jun. 30 Sep. 30 Dec. 31
Operating revenues $ 4,490 $ 4,858 $ 5,101 $ 5,108
Operating income 1,137 1,392 1,578 1,617
Net income 639 785 904 964
Net income per share:
Basic 1.31 1.61 1.87 2.01
Diluted 1.29 1.59 1.85 1.99
Millions, Except Per Share Amounts
2010 Mar. 31 Jun. 30 Sep. 30 Dec. 31
Operating revenues $ 3,965 $ 4,182 $ 4,408 $ 4,410
Operating income 988 1,279 1,401 1,313
Net income 516 711 778 775
Net income per share:
Basic 1.02 1.42 1.58 1.58
Diluted 1.01 1.40 1.56 1.56
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
As of the end of the period covered by this report, the Corporation carried out an evaluation, under the
supervision and with the participation of the Corporation’s management, including the Corporation’s Chief
Executive Officer (CEO) and Executive Vice President – Finance and Chief Financial Officer (CFO), of the
effectiveness of the design and operation of the Corporation’s disclosure controls and procedures
pursuant to Exchange Act Rules 13a-15 and 15d-15. In designing and evaluating the disclosure controls
and procedures, management recognized that any controls and procedures, no matter how well designed
and operated, can provide only reasonable assurance of achieving the desired control objectives. Based
upon that evaluation, the CEO and the CFO concluded that, as of the end of the period covered by this
report, the Corporation’s disclosure controls and procedures were effective to provide reasonable
assurance that information required to be disclosed in our Exchange Act reports is recorded, processed,
summarized and reported within the time periods specified by the SEC, and that such information is
accumulated and communicated to management, including the CEO and CFO, as appropriate, to allow
timely decisions regarding required disclosure.
Additionally, the CEO and CFO determined that there were no changes to the Corporation’s internal
control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) during the last
fiscal quarter that materially affected, or are reasonably likely to materially affect, the Corporation’s
internal control over financial reporting.
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