Union Pacific Railroad Annual Report 2003 UP

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Union Pacific Railroad Annual Report 2003 UP
Union Pacific Corporation Annual Report 2003
TABLE OF CONTENTS
UNION PACIFIC CORPORATION
PART I
Business   3
Properties   7
Legal Proceedings   8
Submission of Matters to a Vote of Security Holders   11
Executive Officers of the Registrant and Principal Executive Officers of
Subsidiaries   11
PART I
Market for the Registrant's Common Equity and Related Shareholde
Matters  13
Selected Financial Data  13
Management's Discussion and Analysis of Financial
Condition and Results of   Operations  14
Risk Factors  17
Cautionary Information  34
Quantitative and Qualitative Disclosures about Market Risk 35
Financial Statements and Supplementary Data  36
Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure  67
Controls and Procedures  67
PART III
Directors and Executive Officers of the Registrant  68
Executive Compensation  68
Security Ownership of Certain Beneficial Owners and Management  68
Certain Relationships and Related Transactions  69
Principal Accounting Fees and Services  69
PART IV
Exhibits, Financial Statement Schedules and Reports on Form 8-K  70
Signatures  71
Certifications  80
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