Summarized Consolidating Financial Data (Tables)

12 Months Ended

Dec. 30, 2016

Summarized Consolidating Financial Data [Abstract]

Consolidating Income Statements

(Dollars in Millions)



Fiscal Year Ended December 2016	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Revenue	$	—		$	10,991		$	78		$	11,069
Expense	(265		)	8,100			(155		)	7,680
Operating Income	265			2,891			233			3,389
Equity in Earnings of Subsidiaries	1,997			2			(1,999		)	—
Interest Expense	(583		)	(35		)	39			(579		)
Other Income - Net	(112		)	44			(1		)	(69		)
Earnings Before Income Taxes	1,567			2,902			(1,728		)	2,741
Income Tax Benefit (Expense)	147			(1,081		)	(93		)	(1,027		)
Net Earnings	$	1,714		$	1,821		$	(1,821	)	$	1,714

Total Comprehensive Earnings	$	1,739		$	1,833		$	(1,833	)	$	1,739

Fiscal Year Ended December 2015
Revenue	$	—		$	11,733		$	78		$	11,811
Expense	(589		)	8,922			(106		)	8,227
Operating Income	589			2,811			184			3,584
Equity in Earnings of Subsidiaries	1,949			—			(1,949		)	—
Interest Expense	(539		)	(33		)	28			(544		)
Other Income - Net	(4		)	111			(9		)	98
Earnings Before Income Taxes	1,995			2,889			(1,746		)	3,138
Income Tax Expense	(27		)	(1,083		)	(60		)	(1,170		)
Net Earnings	$	1,968		$	1,806		$	(1,806	)	$	1,968

Total Comprehensive Earnings	$	1,969		$	1,806		$	(1,806	)	$	1,969

Fiscal Year Ended December 2014
Revenue	$	—		$	12,590		$	79		$	12,669
Expense	(427		)	9,585			(102		)	9,056
Operating Income	427			3,005			181			3,613
Equity in Earnings of Subsidiaries	1,996			1			(1,997		)	—
Interest Expense	(520		)	(46		)	21			(545		)
Other Income - Net	(19		)	(4		)	(1		)	(24		)
Earnings Before Income Taxes	1,884			2,956			(1,796		)	3,044
Income Tax Benefit (Expense)	43			(1,093		)	(67		)	(1,117		)
Net Earnings	$	1,927		$	1,863		$	(1,863	)	$	1,927

Total Comprehensive Earnings	$	1,784		$	1,875		$	(1,875	)	$	1,784

Consolidating Balance Sheets

(Dollars in Millions)



As of December 30, 2016	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
ASSETS
Current Assets:
Cash and Cash Equivalents	$	305		$	281		$	17		$	603
Short-term Investments	415			—			2			417
Accounts Receivable - Net	2			215			721			938
Receivable from Affiliates	1,157			2,351			(3,508		)	—
Materials and Supplies	—			407			—			407
Other Current Assets	—			106			16			122
Total Current Assets	1,879			3,360			(2,752		)	2,487
Properties	1			40,518			2,708			43,227
Accumulated Depreciation	(1		)	(10,634		)	(1,442		)	(12,077		)
Properties - Net	—			29,884			1,266			31,150
Investments in Conrail	—			—			840			840
Affiliates and Other Companies	(39		)	643			15			619
Investment in Consolidated Subsidiaries	24,179			—			(24,179		)	—
Other Long-term Assets	2			607			(291		)	318
Total Assets	$	26,021		$	34,494		$	(25,101	)	$	35,414
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts Payable	$	95		$	678		$	33		$	806
Labor and Fringe Benefits Payable	40			440			65			545
Payable to Affiliates	3,457			500			(3,957		)	—
Casualty, Environmental and Other Reserves	—			102			13			115
Current Maturities of Long-term Debt	313			19			(1		)	331
Income and Other Taxes Payable	(346		)	459			16			129
Other Current Liabilities	—			112			2			114
Total Current Liabilities	3,559			2,310			(3,829		)	2,040
Casualty, Environmental and Other Reserves	—			208			51			259
Long-term Debt	10,203			759			—			10,962
Deferred Income Taxes - Net	(203		)	9,541			258			9,596
Other Long-term Liabilities	783			410			(330		)	863
Total Liabilities	14,342			13,228			(3,850		)	23,720
Shareholders' Equity:
Common Stock, $1 Par Value	928			181			(181		)	928
Other Capital	138			5,095			(5,095		)	138
Retained Earnings	11,253			15,994			(15,994		)	11,253
Accumulated Other Comprehensive Loss	(640		)	(19		)	19			(640		)
Noncontrolling Minority Interest	—			15			—			15
Total Shareholders' Equity	11,679			21,266			(21,251		)	11,694
Total Liabilities and Shareholders' Equity	$	26,021		$	34,494		$	(25,101	)	$	35,414

NOTE 16. Summarized Consolidating Financial Data, continued

Consolidating Balance Sheets

(Dollars in Millions)



As of December 25, 2015	CSX Corporation			CSX Transportation			Eliminations and Other			CSX 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

(Dollars in Millions)



Fiscal Year Ended December 2016	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	453		$	2,950		$	(362	)	$	3,041

Investing Activities
Property Additions	—			(2,208		)	(190		)	(2,398		)
Purchases of Short-term Investments	(929		)	—			—			(929		)
Proceeds from Sales of Short-term Investments	1,325			—			—			1,325
Proceeds from Property Dispositions	—			195			—			195
Other Investing Activities	(41		)	91			(41		)	9
Net Cash Provided by (Used in) Investing Activities	355			(1,922		)	(231		)	(1,798		)

Financing Activities
Long-term Debt Issued	2,200			—			—			2,200
Long-term Debt Repaid	(1,400		)	(19		)	—			(1,419		)
Dividends Paid	(680		)	(600		)	600			(680		)
Shares Repurchased	(1,056		)	—			—			(1,056		)
Other Financing Activities	(11		)	(303		)	1			(313		)
Net Cash Provided by (Used in) Financing Activities	(947		)	(922		)	601			(1,268		)
Net Decrease in Cash and Cash Equivalents	(139		)	106			8			(25		)
Cash and Cash Equivalents at Beginning of Period	444			175			9			628
Cash and Cash Equivalents at End of Period	$	305		$	281		$	17		$	603

NOTE 16. Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements

(Dollars in Millions)



Fiscal Year Ended December 2015	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	983		$	2,974		$	(587	)	$	3,370

Investing Activities
Property Additions	—			(2,400		)	(162		)	(2,562		)
Purchases of Short-term Investments	(1,734		)	—			(5		)	(1,739		)
Proceeds from Sales of Short-term Investments	1,175			—			50			1,225
Proceeds from Property Dispositions	—			147			—			147
Other Investing Activities	(10		)	132			(85		)	37
Net Cash Provided by (Used in) Investing Activities	(569		)	(2,121		)	(202		)	(2,892		)

Financing Activities
Long-term Debt Issued	1,200			—			—			1,200
Long-term Debt Repaid	(200		)	(29		)	—			(229		)
Dividends Paid	(686		)	(750		)	750			(686		)
Shares Repurchased	(804		)	—			—			(804		)
Other Financing Activities	10			1			(11		)	—
Net Cash Provided by (Used in) Financing Activities	(480		)	(778		)	739			(519		)
Net (Decrease) Increase in Cash and Cash Equivalents	(66		)	75			(50		)	(41		)
Cash and Cash Equivalents at Beginning of Period	510			100			59			669
Cash and Cash Equivalents at End of Period	$	444		$	175		$	9		$	628

NOTE 16. Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements

(Dollars in Millions)



Fiscal Year Ended December 2014	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	583		$	3,278		$	(518	)	$	3,343

Investing Activities
Property Additions	—			(2,192		)	(257		)	(2,449		)
Purchases of Short-term Investments	(1,419		)	—			(14		)	(1,433		)
Proceeds from Sales of Short-term Investments	1,642			—			32			1,674
Proceeds from Property Dispositions	—			62			—			62
Other Investing Activities	—			(128		)	91			(37		)
Net Cash Provided by (Used in) Investing Activities	223			(2,258		)	(148		)	(2,183		)

Financing Activities
Long-term Debt Issued	1,000			—			—			1,000
Long-term Debt Repaid	(600		)	(333		)	—			(933		)
Dividends Paid	(629		)	(660		)	660			(629		)
Shares Repurchased	(517		)	—			—			(517		)
Other Financing Activities	11			(18		)	3			(4		)
Net Cash Provided by (Used in) Financing Activities	(735		)	(1,011		)	663			(1,083		)
Net (Decrease) Increase in Cash and Cash Equivalents	71			9			(3		)	77
Cash and Cash Equivalents at Beginning of Period	439			91			62			592
Cash and Cash Equivalents at End of Period	$	510		$	100		$	59		$	669