Summarized Consolidating Financial Data (Tables)

12 Months Ended

Dec. 31, 2017

Summarized Consolidating Financial Data [Abstract]

Consolidating Income Statements

(Dollars in Millions)



Fiscal Year Ended December 2017	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Revenue	$	—		$	11,334		$	74		$	11,408
Expense	(158		)	8,070			(171		)	7,741
Operating Income	158			3,264			245			3,667
Equity in Earnings of Subsidiaries	5,810			—			(5,810		)	—
Interest Expense	(582		)	(29		)	65			(546		)
Other Income - Net	7			42			(28		)	21
Earnings Before Income Taxes	5,393			3,277			(5,528		)	3,142
Income Tax Benefit	78			2,247			4			2,329
Net Earnings	$	5,471		$	5,524		$	(5,524	)	$	5,471

Total Comprehensive Earnings	$	5,625		$	5,538		$	(5,538	)	$	5,625

Fiscal Year Ended December 2016
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

Consolidating Balance Sheets

(Dollars in Millions)



As of December 31, 2017	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
ASSETS
Current Assets:
Cash and Cash Equivalents	$	274		$	121		$	6		$	401
Short-term Investments	—			—			18			18
Accounts Receivable - Net	(1		)	301			670			970
Receivable from Affiliates	1,226			3,517			(4,743		)	—
Materials and Supplies	—			372			—			372
Other Current Assets	(1		)	145			10			154
Total Current Assets	1,498			4,456			(4,039		)	1,915
Properties	1			41,479			2,844			44,324
Accumulated Depreciation	(1		)	(11,017		)	(1,542		)	(12,560		)
Properties - Net	—			30,462			1,302			31,764
Investments in Conrail	—			—			907			907
Affiliates and Other Companies	(39		)	800			18			779
Investment in Consolidated Subsidiaries	29,405			—			(29,405		)	—
Other Long-term Assets	39			596			(261		)	374
Total Assets	$	30,903		$	36,314		$	(31,478	)	$	35,739
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts Payable	$	105		$	708		$	34		$	847
Labor and Fringe Benefits Payable	52			494			56			602
Payable to Affiliates	4,792			552			(5,344		)	—
Casualty, Environmental and Other Reserves	—			95			13			108
Current Maturities of Long-term Debt	—			19			—			19
Income and Other Taxes Payable	(326		)	455			28			157
Other Current Liabilities	5			153			3			161
Total Current Liabilities	4,628			2,476			(5,210		)	1,894
Casualty, Environmental and Other Reserves	—			222			44			266
Long-term Debt	11,056			733			1			11,790
Deferred Income Taxes - Net	(130		)	6,342			206			6,418
Other Long-term Liabilities	644			320			(314		)	650
Total Liabilities	16,198			10,093			(5,273		)	21,018
Shareholders' Equity:
Common Stock, $1 Par Value	890			181			(181		)	890
Other Capital	217			5,096			(5,096		)	217
Retained Earnings	14,084			20,933			(20,933		)	14,084
Accumulated Other Comprehensive Loss	(486		)	(5		)	5			(486		)
Noncontrolling Minority Interest	—			16			—			16
Total Shareholders' Equity	14,705			26,221			(26,205		)	14,721
Total Liabilities and Shareholders' Equity	$	30,903		$	36,314		$	(31,478	)	$	35,739

NOTE 16. Summarized Consolidating Financial Data, continued

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

Consolidating Cash Flow Statements

(Dollars in Millions)



Fiscal Year Ended December 2017	CSX Corporation			CSX Transportation			Eliminations and Other			CSX Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	1,719		$	2,112		$	(359	)	$	3,472

Investing Activities
Property Additions	—			(1,848		)	(192		)	(2,040		)
Purchases of Short-term Investments	(774		)	—			(8		)	(782		)
Proceeds from Sales of Short-term Investments	1,190			—			3			1,193
Proceeds from Property Dispositions	—			97			—			97
Other Investing Activities	(2		)	94			(55		)	37
Net Cash Provided by (Used in) Investing Activities	414			(1,657		)	(252		)	(1,495		)

Financing Activities
Long-term Debt Issued	850			—			—			850
Long-term Debt Repaid	(313		)	(20		)	—			(333		)
Dividends Paid	(708		)	(600		)	600			(708		)
Shares Repurchased	(1,970		)	—			—			(1,970		)
Other Financing Activities	(23		)	5			—			(18		)
Net Cash Provided by (Used in) Financing Activities	(2,164		)	(615		)	600			(2,179		)
Net Decrease in Cash and Cash Equivalents	(31		)	(160		)	(11		)	(202		)
Cash and Cash Equivalents at Beginning of Period	305			281			17			603
Cash and Cash Equivalents at End of Period	$	274		$	121		$	6		$	401

NOTE 16. Summarized Consolidating Financial Data, continued

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) Increase 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