Risk factors
Union Pacific (UNP) risk factors
Item 1A of every Union Pacific Corp. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2025 10-K risk factorsRisk factors section under review
The risk section is dominated by the proposed Norfolk Southern merger and whether it closes successfully.
Filed Feb 06, 2026