Summarized Consolidating Financial Data (Tables)

9 Months Ended

Sep. 23, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]



Consolidating Income Statements
(Dollars in millions)
Third Quarter 2016	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	2,691		$	19		$	2,710
Expense	(63		)	1,960			(28		)	1,869
Operating Income	63			731			47			841

Equity in Earnings of Subsidiaries	505			1			(506		)	—
Interest (Expense) / Benefit	(141		)	(7		)	9			(139		)
Other Income / (Expense) - Net	—			9			4			13

Earnings Before Income Taxes	427			734			(446		)	715
Income Tax Benefit / (Expense)	28			(268		)	(20		)	(260		)
Net Earnings	$	455		$	466		$	(466	)	$	455

Total Comprehensive Earnings	$	465		$	467		$	(467	)	$	465

Third Quarter 2015	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	2,920		$	19		$	2,939
Expense	(154		)	2,182			(22		)	2,006
Operating Income	154			738			41			933

Equity in Earnings of Subsidiaries	496			—			(496		)	—
Interest (Expense) / Benefit	(134		)	(8		)	6			(136		)
Other Income / (Expense) - Net	(1		)	5			(2		)	2

Earnings Before Income Taxes	515			735			(451		)	799
Income Tax (Expense) / Benefit	(8		)	(273		)	(11		)	(292		)
Net Earnings	$	507		$	462		$	(462	)	$	507

Total Comprehensive Earnings	$	518		$	462		$	(462	)	$	518



Consolidating Income Statements
(Dollars in millions)
Nine Months 2016	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	7,974		$	58		$	8,032
Expense	(202		)	5,985			(136		)	5,647
Operating Income	202			1,989			194			2,385

Equity in Earnings of Subsidiaries	1,399			1			(1,400		)	—
Interest (Expense) / Benefit	(425		)	(27		)	29			(423		)
Other Income / (Expense) - Net	1			24			3			28

Earnings Before Income Taxes	1,177			1,987			(1,174		)	1,990
Income Tax (Expense) / Benefit	79			(735		)	(78		)	(734		)
Net Earnings	$	1,256		$	1,252		$	(1,252	)	$	1,256

Total Comprehensive Earnings	$	1,282		$	1,253		$	(1,253	)	$	1,282

Nine Months 2015	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	8,972		$	58		$	9,030
Expense	(448		)	6,765			(80		)	6,237
Operating Income	448			2,207			138			2,793

Equity in Earnings of Subsidiaries	1,482			—			(1,482		)	—
Interest (Expense) / Benefit	(399		)	(24		)	19			(404		)
Other Income / (Expense) - Net	(4		)	18			(6		)	8

Earnings Before Income Taxes	1,527			2,201			(1,331		)	2,397
Income Tax (Expense) / Benefit	(25		)	(824		)	(46		)	(895		)
Net Earnings	$	1,502		$	1,377		$	(1,377	)	$	1,502

Total Comprehensive Earnings	$	1,523		$	1,374		$	(1,374	)	$	1,523

Consolidating Balance Sheet



Consolidating Balance Sheet
(Dollars in millions)
September 23, 2016	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated

ASSETS
Current Assets
Cash and Cash Equivalents	$	448		$	130		$	25		$	603
Short-term Investments	150			—			2			152
Accounts Receivable - Net	(3		)	197			731			925
Receivable from Affiliates	1,158			2,504			(3,662		)	—
Materials and Supplies	—			397			—			397
Other Current Assets	11			56			19			86
Total Current Assets	1,764			3,284			(2,885		)	2,163

Properties	1			40,052			2,667			42,720
Accumulated Depreciation	(1		)	(10,508		)	(1,429		)	(11,938		)
Properties - Net	—			29,544			1,238			30,782

Investments in Conrail	—			—			830			830
Affiliates and Other Companies	(39		)	628			14			603
Investments in Consolidated Subsidiaries	23,678			—			(23,678		)	—
Other Long-term Assets	3			403			(103		)	303
Total Assets	$	25,406		$	33,859		$	(24,584	)	$	34,681

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	150		$	679		$	30		$	859
Labor and Fringe Benefits Payable	36			371			43			450
Payable to Affiliates	3,601			445			(4,046		)	—
Casualty, Environmental and Other Reserves	—			109			15			124
Current Maturities of Long-term Debt	613			19			(1		)	631
Income and Other Taxes Payable	(334		)	394			30			90
Other Current Liabilities	—			107			2			109
Total Current Liabilities	4,066			2,124			(3,927		)	2,263

Casualty, Environmental and Other Reserves	—			202			48			250
Long-term Debt	9,127			761			—			9,888
Deferred Income Taxes - Net	(206		)	9,470			241			9,505
Other Long-term Liabilities	763			468			(126		)	1,105
Total Liabilities	$	13,750		$	13,025		$	(3,764	)	$	23,011

Shareholders' Equity
Common Stock, $1 Par Value	$	937		$	181		$	(181	)	$	937
Other Capital	125			5,094			(5,094		)	125
Retained Earnings	11,233			15,575			(15,575		)	11,233
Accumulated Other Comprehensive Loss	(639		)	(30		)	30			(639		)
Noncontrolling Interest	—			14			—			14
Total Shareholders' Equity	$	11,656		$	20,834		$	(20,820	)	$	11,670
Total Liabilities and Shareholders' Equity	$	25,406		$	33,859		$	(24,584	)	$	34,681

Certain prior year data has been reclassified to conform to the current presentation.



Consolidating Balance Sheet (Dollars in millions)
December 25, 2015	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
ASSETS
Current Assets
Cash and Cash Equivalents	$	444		$	175		$	9		$	628
Short-term Investments	810			—			—			810
Accounts Receivable - Net	1			198			783			982
Receivable from Affiliates	1,092			2,038			(3,130		)	—
Materials and Supplies	—			350			—			350
Other Current Assets	(59		)	120			9			70
Total Current Assets	2,288			2,881			(2,329		)	2,840

Properties	1			38,964			2,609			41,574
Accumulated Depreciation	(1		)	(10,016		)	(1,383		)	(11,400		)
Properties - Net	—			28,948			1,226			30,174

Investments in Conrail	—			—			803			803
Affiliates and Other Companies	(39		)	658			(28		)	591
Investment in Consolidated Subsidiaries	22,755			—			(22,755		)	—
Other Long-term Assets	8			399			(70		)	337
Total Assets	$	25,012		$	32,886		$	(23,153	)	$	34,745

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	108		$	626		$	30		$	764
Labor and Fringe Benefits Payable	36			407			47			490
Payable to Affiliates	2,954			437			(3,391		)	—
Casualty, Environmental and Other Reserves	—			115			16			131
Current Maturities of Long-term Debt	1			19			—			20
Income and Other Taxes Payable	(87		)	183			12			108
Other Current Liabilities	—			437			2			439
Total Current Liabilities	3,012			2,224			(3,284		)	1,952

Casualty, Environmental and Other Reserves	—			219			50			269
Long-term Debt	9,732			783			—			10,515
Deferred Income Taxes - Net	(188		)	9,141			226			9,179
Other Long-term Liabilities	804			484			(126		)	1,162
Total Liabilities	$	13,360		$	12,851		$	(3,134	)	$	23,077

Shareholders' Equity
Common Stock, $1 Par Value	$	966		$	181		$	(181	)	$	966
Other Capital	113			5,091			(5,091		)	113
Retained Earnings	11,238			14,774			(14,774		)	11,238
Accumulated Other Comprehensive Loss	(665		)	(31		)	31			(665		)
Noncontrolling Minority Interest	—			20			(4		)	16
Total Shareholders' Equity	$	11,652		$	20,035		$	(20,019	)	$	11,668
Total Liabilities and Shareholders' Equity	$	25,012		$	32,886		$	(23,153	)	$	34,745

Consolidating Cash Flow Statements



Consolidating Cash Flow Statements
(Dollars in millions)
Nine Months 2016	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	644		$	2,089		$	(245	)	$	2,488
Investing Activities
Property Additions	—			(1,469		)	(121		)	(1,590		)
Purchases of Short-term Investments	(410		)	—			—			(410		)
Proceeds from Sales of Short-term Investments	1,070			—			—			1,070
Proceeds from Property Dispositions	—			11			—			11
Other Investing Activities	(3		)	96			(67		)	26
Net Cash Provided by (Used in) Investing Activities	657			(1,362		)	(188		)	(893		)
Financing Activities
Long-term Debt Issued	—			—			—			—
Long-term Debt Repaid	—			(18		)	(1		)	(19		)
Dividends Paid	(513		)	(450		)	450			(513		)
Stock Options Exercised	—			—			—			—
Shares Repurchased	(778		)	—			—			(778		)
Other Financing Activities	(6		)	(304		)	—			(310		)
Net Cash Provided by (Used in) Financing Activities	(1,297		)	(772		)	449			(1,620		)
Net Increase (Decrease) in Cash and Cash Equivalents	4			(45		)	16			(25		)
Cash and Cash Equivalents at Beginning of Period	444			175			9			628
Cash and Cash Equivalents at End of Period	$	448		$	130		$	25		$	603

NOTE 11. Summarized Consolidating Financial Data, continued



Consolidating Cash Flow Statements
(Dollars in millions)
Nine Months 2015	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	637		$	2,313		$	(438	)	$	2,512
Investing Activities
Property Additions	—			(1,794		)	(115		)	(1,909		)
Purchases of Short-term Investments	(1,170		)	—			—			(1,170		)
Proceeds from Sales of Short-term Investments	995			—			45			1,040
Proceeds from Property Dispositions	—			46			—			46
Other Investing Activities	(11		)	93			(40		)	42
Net Cash Provided by (Used in) Investing Activities	(186		)	(1,655		)	(110		)	(1,951		)
Financing Activities
Long-term Debt Issued	600			—			—			600
Long-term Debt Repaid	(200		)	(28		)	—			(228		)
Dividends Paid	(512		)	(563		)	563			(512		)
Stock Options Exercised	—			—			—			—
Shares Repurchased	(546		)	—			—			(546		)
Other Financing Activities	8			1			(12		)	(3		)
Net Cash Provided by (Used in) Financing Activities	(650		)	(590		)	551			(689		)
Net Increase (Decrease) in Cash and Cash Equivalents	(199		)	68			3			(128		)
Cash and Cash Equivalents at Beginning of Period	510			100			59			669
Cash and Cash Equivalents at End of Period	$	311		$	168		$	62		$	541