Summarized Consolidating Financial Data (Tables)

12 Months Ended

Dec. 30, 2011

Summarized Consolidating Financial Data [Abstract]

Consolidating Income Statements

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



Fiscal Year Ended December 2011	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	11,676		$	67		$	11,743
Expense	(278		)	8,679			(76		)	8,325
Operating Income	278			2,997			143			3,418
Equity in Earnings of Subsidiaries	1,947			3			(1,950		)	—
Interest Expense	(496		)	(83		)	27			(552		)
Other Income - Net	13			19			(10		)	22
Earnings from Continuing Operations
Before Income Taxes	1,742			2,936			(1,790		)	2,888
Income Tax Benefit (Expense)	80			(1,081		)	(65		)	(1,066		)
Net Earnings	$	1,822		$	1,855		$	(1,855	)	$	1,822
Fiscal Year Ended December 2010	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	9,939		$	697		$	10,636
Expense	(166		)	7,110			621			7,565
Operating Income	166			2,829			76			3,071
Equity in Earnings of Subsidiaries	1,779			3			(1,782		)	—
Interest Expense	(499		)	(101		)	43			(557		)
Other Income - Net	21			22			(11		)	32
Earnings from Continuing Operations
Before Income Taxes	1,467			2,753			(1,674		)	2,546
Income Tax Benefit (Expense)	96			(1,064		)	(15		)	(983		)
Net Earnings	$	1,563		$	1,689		$	(1,689	)	$	1,563
Fiscal Year Ended December 2009	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	7,776		$	1,265		$	9,041
Expense	(279		)	5,983			1,067			6,771
Operating Income	279			1,793			198			2,270
Equity in Earnings of Subsidiaries	1,239			10			(1,249		)	—
Interest Expense	(500		)	(116		)	58			(558		)
Other Income - Net	70			18			(54		)	34
Earnings from Continuing Operations
Before Income Taxes	1,088			1,705			(1,047		)	1,746
Income Tax Benefit (Expense)	23			(624		)	(17		)	(618		)
Earnings from Continuing Operations	1,111			1,081			(1,064		)	1,128
Discontinued Operations	32			—			(17		)	15
Net Earnings	$	1,143		$	1,081		$	(1,081	)	$	1,143

Consolidating Balance Sheets

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



As of December 30, 2011	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
ASSETS
Current Assets
Cash and Cash Equivalents	$	549		$	154		$	80		$	783
Short-term Investments	475			—			48			523
Accounts Receivable - Net	4			468			657			1,129
Receivable from Affiliates	1,025			1,772			(2,797		)	—
Materials and Supplies	—			240			—			240
Deferred Income Taxes	10			173			(1		)	182
Other Current Assets	17			64			(3		)	78
Total Current Assets	2,080			2,871			(2,016		)	2,935
Properties	8			31,958			1,738			33,704
Accumulated Depreciation	(8		)	(7,795		)	(927		)	(8,730		)
Properties - Net	—			24,163			811			24,974
Investments in Conrail	—			—			678			678
Affiliates and Other Companies	(39		)	574			(42		)	493
Investment in Consolidated Subsidiaries	17,519			—			(17,519		)	—
Other Long-term Assets	176			109			108			393
Total Assets	$	19,736		$	27,717		$	(17,980	)	$	29,473
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	114		$	978		$	55		$	1,147
Labor and Fringe Benefits Payable	41			458			42			541
Payable to Affiliates	2,566			374			(2,940		)	—
Casualty, Environmental and Other Reserves	—			167			16			183
Current Maturities of Long-term Debt	400			105			2			507
Income and Other Taxes Payable	(60		)	189			—			129
Other Current Liabilities	(1		)	178			3			180
Total Current Liabilities	3,060			2,449			(2,822		)	2,687
Casualty, Environmental and Other Reserves	—			369			89			458
Long-term Debt	7,609			1,124			1			8,734
Deferred Income Taxes	(246		)	7,800			47			7,601
Other Long-term Liabilities	858			582			85			1,525
Total Liabilities	11,281			12,324			(2,600		)	21,005
Shareholders' Equity
Common Stock, $1 Par Value	1,049			181			(181		)	1,049
Other Capital	6			5,652			(5,652		)	6
Retained Earnings	8,275			9,618			(9,618		)	8,275
Accumulated Other Comprehensive Loss	(875		)	(79		)	79			(875		)
Noncontrolling Minority Interest	—			21			(8		)	13
Total Shareholders' Equity	8,455			15,393			(15,380		)	8,468
Total Liabilities and Shareholders' Equity	$	19,736		$	27,717		$	(17,980	)	$	29,473

Consolidating Balance Sheets

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



As of December 31, 2010	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
ASSETS
Current Assets
Cash and Cash Equivalents	$	1,100		$	118		$	74		$	1,292
Short-term Investments	—			—			54			54
Accounts Receivable - Net	5			447			541			993
Receivable from Affiliates	1,048			943			(1,991		)	—
Materials and Supplies	—			218			—			218
Deferred Income Taxes	15			171			6			192
Other Current Assets	46			56			4			106
Total Current Assets	2,214			1,953			(1,312		)	2,855
Properties	8			30,557			1,500			32,065
Accumulated Depreciation	(8		)	(7,405		)	(853		)	(8,266		)
Properties - Net	—			23,152			647			23,799
Investments in Conrail	—			—			673			673
Affiliates and Other Companies	—			595			(134		)	461
Investment in Consolidated Subsidiaries	16,278			—			(16,278		)	—
Other Long-term Assets	174			110			69			353
Total Assets	$	18,666		$	25,810		$	(16,335	)	$	28,141
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	116		$	904		$	26		$	1,046
Labor and Fringe Benefits Payable	42			431			47			520
Payable to Affiliates	1,942			401			(2,343		)	—
Casualty, Environmental and Other Reserves	—			161			15			176
Current Maturities of Long-term Debt	517			94			2			613
Income and Other Taxes Payable	378			109			(402		)	85
Other Current Liabilities	—			96			1			97
Total Current Liabilities	2,995			2,196			(2,654		)	2,537
Casualty, Environmental and Other Reserves	—			411			91			502
Long-term Debt	6,815			1,235			1			8,051
Deferred Income Taxes	(526		)	7,228			351			7,053
Other Long-term Liabilities	696			525			77			1,298
Total Liabilities	9,980			11,595			(2,134		)	19,441
Shareholders' Equity
Common Stock, $1 Par Value	370			181			(181		)	370
Other Capital	—			5,634			(5,634		)	—
Retained Earnings	9,087			8,443			(8,443		)	9,087
Accumulated Other Comprehensive Loss	(771		)	(65		)	65			(771		)
Noncontrolling Minority Interest	—			22			(8		)	14
Total Shareholders' Equity	8,686			14,215			(14,201		)	8,700
Total Liabilities and Shareholders' Equity	$	18,666		$	25,810		$	(16,335	)	$	28,141

Consolidating Cash Flow Statements

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



Fiscal Year Ended December 2011	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated

Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	1,231		$	2,746		$	(486	)	$	3,491

Investing Activities
Property Additions	—			(2,034		)	(263		)	(2,297		)
Purchases of Short-term Investments	(475		)	—			(17		)	(492		)
Proceeds from Property Dispositions	—			239			1			240
Other Investing Activities	(20		)	(133		)	115			(38		)
Net Cash Provided by (Used in) Investing Activities	(495		)	(1,928		)	(164		)	(2,587		)

Financing Activities
Long-term Debt Issued	1,200			—			—			1,200
Long-term Debt Repaid	(507		)	(95		)	(3		)	(605		)
Dividends Paid	(480		)	(680		)	680			(480		)
Stock Options Exercised	29			—			—			29
Shares Repurchased	(1,564		)	—			—			(1,564		)
Other Financing Activities	35			(7		)	(21		)	7
Net Cash Provided by (Used in) Financing Activities	(1,287		)	(782		)	656			(1,413		)
Net Increase (Decrease) in Cash and Cash Equivalents	(551		)	36			6			(509		)
Cash and Cash Equivalents at Beginning of Period	1,100			118			74			1,292
Cash and Cash Equivalents at End of Period	$	549		$	154		$	80		$	783

Consolidating Cash Flow Statements

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



Fiscal Year Ended December 2010	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated

Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	944		$	2,393		$	(76	)	$	3,261

Investing Activities
Property Additions	—			(1,587		)	(253		)	(1,840		)
Proceeds from Property Dispositions	—			107			1			108
Other Investing Activities	301			(110		)	(230		)	(39		)
Net Cash Provided by (Used in) Investing Activities	301			(1,590		)	(482		)	(1,771		)

Financing Activities
Long-term Debt Issued	800			—			—			800
Long-term Debt Repaid	—			(111		)	(2		)	(113		)
Dividends Paid	(372		)	(590		)	590			(372		)
Stock Options Exercised	42			—			—			42
Shares Repurchased	(1,452		)	—			—			(1,452		)
Other Financing Activities	(81		)	(14		)	(37		)	(132		)
Net Cash Provided by (Used in) Financing Activities	(1,063		)	(715		)	551			(1,227		)
Net Increase (Decrease) in Cash and Cash Equivalents	182			88			(7		)	263
Cash and Cash Equivalents at Beginning of Period	918			30			81			1,029
Cash and Cash Equivalents at End of Period	$	1,100		$	118		$	74		$	1,292

Consolidating Cash Flow Statements

(Dollars in Millions)

NOTE 17. Summarized Consolidating Financial Data, continued



Fiscal Year Ended December 2009	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated

Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	436		$	2,920		$	(1,317	)	$	2,039

Investing Activities
Property Additions	—			(1,331		)	(95		)	(1,426		)
Proceeds from Property Dispositions	2			42			1			45
Other Investing Activities	(89		)	(402		)	500			9
Net Cash Provided by (Used in) Investing Activities	(87		)	(1,691		)	406			(1,372		)

Financing Activities
Long-term Debt Issued	500			—			—			500
Long-term Debt Repaid	(200		)	(120		)	(3		)	(323		)
Dividends Paid	(345		)	(475		)	475			(345		)
Stock Options Exercised	34			—			—			34
Other Financing Activities	21			(667		)	473			(173		)
Net Cash Provided by (Used in) Financing Activities	10			(1,262		)	945			(307		)
Net Increase (Decrease) in Cash and Cash Equivalents	359			(33		)	34			360
Cash and Cash Equivalents at Beginning of Period	559			63			47			669
Cash and Cash Equivalents at End of Period	$	918		$	30		$	81		$	1,029