XML 54 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Summarized Consolidating Financial Data (Tables)
3 Months Ended
Mar. 27, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Consolidating Income Statements
 Consolidating Income Statements
 (Dollars in millions)
First Quarter 2015
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
3,007

$
20

$
3,027

 Expense
(148
)
2,344

(12
)
2,184

 Operating Income
148

663

32

843

 
 
 
 
 
 Equity in Earnings of Subsidiaries
440


(440
)

 Interest (Expense) / Benefit
(133
)
(7
)
6

(134
)
 Other Income / (Expense) - Net
(1
)
6

(3
)
2

 
 
 
 
 
 Earnings Before Income Taxes
454

662

(405
)
711

 Income Tax Benefit / (Expense)
(12
)
(246
)
(11
)
(269
)
 Net Earnings
$
442

$
416

$
(416
)
$
442

 
 
 
 
 
Total Comprehensive Earnings
$
440

$
413

$
(413
)
$
440

 
 
 
 
 
First Quarter 2014
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
2,992

$
20

$
3,012

 Expense
(103
)
2,393

(17
)
2,273

 Operating Income
103

599

37

739

 
 
 
 
 
 Equity in Earnings of Subsidiaries
416


(416
)

 Interest (Expense) / Benefit
(130
)
(14
)
4

(140
)
 Other Income / (Expense) - Net
(2
)
6

3

7

 
 
 
 
 
 Earnings Before Income Taxes
387

591

(372
)
606

 Income Tax (Expense) / Benefit
11

(204
)
(15
)
(208
)
 Net Earnings
$
398

$
387

$
(387
)
$
398

 
 
 
 
 
Total Comprehensive Earnings
$
414

$
393

$
(393
)
$
414

Consolidating Balance Sheet
 Consolidating Balance Sheet
 (Dollars in millions)
As of March 2015
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 
 
 
 
 
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
363

$
142

$
56

$
561

 Short-term Investments
250


7

257

 Accounts Receivable - Net
2

124

977

1,103

 Receivable from Affiliates
1,324

2,318

(3,642
)

 Materials and Supplies

290

1

291

 Deferred Income Taxes

146


146

 Other Current Assets
4

87

8

99

   Total Current Assets
1,943

3,107

(2,593
)
2,457

 
 
 
 
 
 Properties
1

37,347

2,476

39,824

 Accumulated Depreciation
(1
)
(9,674
)
(1,277
)
(10,952
)
 Properties - Net

27,673

1,199

28,872

 
 
 
 
 
 Investments in Conrail


778

778

 Affiliates and Other Companies
(39
)
641

(27
)
575

 Investments in Consolidated Subsidiaries
21,788


(21,788
)

 Other Long-term Assets
169

387

(77
)
479

   Total Assets
$
23,861

$
31,808

$
(22,508
)
$
33,161

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
167

$
662

$
29

$
858

 Labor and Fringe Benefits Payable
34

346

30

410

 Payable to Affiliates
3,035

539

(3,574
)

 Casualty, Environmental and Other Reserves

126

15

141

 Current Maturities of Long-term Debt
200

29

(1
)
228

 Income and Other Taxes Payable
(183
)
459

12

288

 Other Current Liabilities

107

6

113

   Total Current Liabilities
3,253

2,268

(3,483
)
2,038

 
 
 
 
 
 Casualty, Environmental and Other Reserves

224

62

286

 Long-term Debt
8,706

807


9,513

 Deferred Income Taxes
(167
)
8,847

206

8,886

 Other Long-term Liabilities
754

465

(119
)
1,100

   Total Liabilities
$
12,546

$
12,611

$
(3,334
)
$
21,823

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
988

$
181

$
(181
)
$
988

 Other Capital
100

5,078

(5,078
)
100

 Retained Earnings
10,895

13,945

(13,945
)
10,895

 Accumulated Other Comprehensive Loss
(668
)
(34
)
34

(668
)
 Noncontrolling Interest

27

(4
)
23

 Total Shareholders' Equity
$
11,315

$
19,197

$
(19,174
)
$
11,338

 Total Liabilities and Shareholders' Equity
$
23,861

$
31,808

$
(22,508
)
$
33,161

Consolidating Balance Sheet
(Dollars in millions)
As of December 2014
 CSX Corporation
 CSX Transportation
Eliminations and Other
 Consolidated
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
510

$
100

$
59

$
669

 Short-term Investments
250


42

292

 Accounts Receivable - Net
2

206

921

1,129

 Receivable from Affiliates
1,211

2,418

(3,629
)

 Materials and Supplies

272

1

273

 Deferred Income Taxes
3

139

(1
)
141

 Other Current Assets

61

7

68

   Total Current Assets
1,976

3,196

(2,600
)
2,572

 
 
 
 
 
 Properties
1

36,888

2,454

39,343

 Accumulated Depreciation
(1
)
(9,516
)
(1,242
)
(10,759
)
 Properties - Net

27,372

1,212

28,584

 
 
 
 
 
 Investments in Conrail


779

779

 Affiliates and Other Companies
(39
)
644

(28
)
577

 Investment in Consolidated Subsidiaries
21,570


(21,570
)

 Other Long-term Assets
178

387

(24
)
541

   Total Assets
$
23,685

$
31,599

$
(22,231
)
$
33,053

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
106

$
707

$
32

$
845

 Labor and Fringe Benefits Payable
38

511

64

613

 Payable to Affiliates
3,053

514

(3,567
)

 Casualty, Environmental and Other Reserves

126

16

142

 Current Maturities of Long-term Debt
200

29

(1
)
228

 Income and Other Taxes Payable
(150
)
293

20

163

 Other Current Liabilities

111

5

116

   Total Current Liabilities
3,247

2,291

(3,431
)
2,107

 
 
 
 
 
 Casualty, Environmental and Other Reserves

213

63

276

 Long-term Debt
8,705

809


9,514

 Deferred Income Taxes
(172
)
8,827

203

8,858

 Other Long-term Liabilities
753

487

(118
)
1,122

   Total Liabilities
$
12,533

$
12,627

$
(3,283
)
$
21,877

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
992

$
181

$
(181
)
$
992

 Other Capital
92

5,077

(5,077
)
92

 Retained Earnings
10,734

13,717

(13,717
)
10,734

 Accumulated Other Comprehensive Loss
(666
)
(31
)
31

(666
)
 Noncontrolling Minority Interest

28

(4
)
24

   Total Shareholders' Equity
$
11,152

$
18,972

$
(18,948
)
$
11,176

   Total Liabilities and Shareholders' Equity
$
23,685

$
31,599

$
(22,231
)
$
33,053

Consolidating Cash Flow Statements
Consolidating Cash Flow Statements
(Dollars in millions)
Three months ended March 27, 2015
CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
134

$
871

$
(315
)
$
690

Investing Activities
 

 
 
Property Additions

(574
)
(24
)
(598
)
Purchases of Short-term Investments
(105
)


(105
)
Proceeds from Sales of Short-term Investments
105


35

140

Other Investing Activities

(50
)
113

63

Net Cash Provided by (Used in) Investing Activities

(624
)
124

(500
)
Financing Activities
 
 
 
 
Dividends Paid
(158
)
(188
)
188

(158
)
Shares Repurchased
(127
)


(127
)
Other Financing Activities
4

(17
)

(13
)
Net Cash Provided by (Used in) Financing Activities
(281
)
(205
)
188

(298
)
Net Increase (Decrease) in Cash and Cash Equivalents
(147
)
42

(3
)
(108
)
Cash and Cash Equivalents at Beginning of Period
510

100

59

669

Cash and Cash Equivalents at End of Period
$
363

$
142

$
56

$
561



NOTE 11.    Summarized Consolidating Financial Data, continued
Consolidating Cash Flow Statements
(Dollars in millions)
Three months ended March 28, 2014
 CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
113

$
669

$
(183
)
$
599

Investing Activities
 
 
 
 
Property Additions

(443
)
(32
)
(475
)
Purchases of Short-term Investments
(165
)


(165
)
Proceeds from Sales of Short-term Investments
407


2

409

Other Investing Activities

(67
)
71

4

Net Cash Provided by (Used in) Investing Activities
242

(510
)
41

(227
)
Financing Activities
 
 
 
 
Long-term Debt Repaid
(200
)
(9
)

(209
)
Dividends Paid
(151
)
(143
)
143

(151
)
Shares Repurchased
(127
)


(127
)
Other Financing Activities
5

(7
)

(2
)
Net Cash Provided by (Used in) Financing Activities
(473
)
(159
)
143

(489
)
Net Increase (Decrease) in Cash and Cash Equivalents
(118
)

1

(117
)
Cash and Cash Equivalents at Beginning of Period
439

91

62

592

Cash and Cash Equivalents at End of Period
$
321

$
91

$
63

$
475