Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

In order to perform this valuation, the actuaries are provided with the details of the population covered at the beginning of the year, summarized in the table below, and projects that population forward to the end of the year.



	Summary of Participants as of
	January 1, 2018
	Pension Plans	Post-retirement Medical Plan
Active Employees	3,566	660
Retirees and Beneficiaries	12,081	9,030
Other^(a)	4,262	23
Total	19,909	9,713

(a) For pension plans, the other category consists mostly of terminated but vested former employees. For post-retirement plans, the other category consists of employees on long-term disability that have not yet retired.

Schedule of Future Expected Benefit Payments

Future expected benefit payments are as follows:



	Expected Cash Flows
(Dollars in Millions)	Pension Benefits		Post-retirement Benefits
2019	$	192	$	34
2020	186		13
2021	185		11
2022	183		10
2023	180		9
2024-2028	886		32
Total	$	1,812	$	109

Schedule of Allocation of Plan Assets

The distribution of pension plan assets as of the measurement date is shown in the table below, and these assets are reported net of pension liabilities on the balance sheet.



	December 2018				December 2017
			Percent of				Percent of
(Dollars in Millions)	Amount		Total Assets		Amount		Total Assets
Equity	$	1,698	70	%	$	2,060	73	%
Fixed Income	704		29		729		26
Cash and Cash Equivalents	29		1		44		1
Total	$	2,431	100	%	$	2,833	100	%

Schedule of Changes in Benefit Obligation and Fair Value of Plan Assets

Changes in benefit obligation and the fair value of plan assets for the 2018 and 2017 calendar plan years are as follows:



	Pension Benefits						Post-retirement Benefits
	Plan Year			Plan Year			Plan Year			Plan Year
(Dollars in Millions)	2018			2017			2018			2017
Actuarial Present Value of Benefit Obligation
Accumulated Benefit Obligation	$	2,623		$	2,873		N/A			N/A
Projected Benefit Obligation	2,758			3,002			$	118		$	250

Change in Projected Benefit Obligation:
Projected Benefit Obligation at Beginning of Plan Year	$	3,002		$	2,871		$	250		$	274
Service Cost ^(a)	36			36			2			2
Interest Cost	92			92			7			7
Plan Participants' Contributions	—			—			5			7
Workforce Reduction Program/Curtailment	—			58			—			13
Post-retirement Plan Amendment	—			—			(102		)	—
Actuarial (Gain) Loss	(173		)	163			(10		)	(17		)
Benefits Paid	(199		)	(218		)	(34		)	(36		)
Benefit Obligation at End of Plan Year	$	2,758		$	3,002		$	118		$	250

Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Plan Year	$	2,833		$	2,539		$	—		$	—
Actual Return on Plan Assets (Loss) Gain	(220		)	467			—			—
Non-qualified Employer Contributions	17			45			30			29
Plan Participants' Contributions	—			—			4			7
Benefits Paid	(199		)	(218		)	(34		)	(36		)
Fair Value of Plan Assets at End of Plan Year	2,431			2,833			—			—
Funded Status at End of Plan Year	$	(327	)	$	(169	)	$	(118	)	$	(250	)

Schedule of Amount Recognized in Balance Sheet

Amounts related to pension and post-retirement benefits recorded in other long-term assets, labor and fringe benefits payable and other long-term liabilities on the balance sheet are as follows:



	Pension Benefits						Post-retirement Benefits
	December			December			December			December
(Dollars in Millions)	2018			2017			2018			2017
Amounts Recorded in Consolidated
Balance Sheets:
Long-term Assets ^(a)	$	13		$	57		$	—		$	—
Current Liabilities	(16		)	(15		)	(34		)	(38		)
Long-term Liabilities	(324		)	(211		)	(84		)	(212		)
Net Amount Recognized in
Consolidated Balance Sheets	$	(327	)	$	(169	)	$	(118	)	$	(250	)


(a)	Long-term assets as of December 2018 and 2017 relate to qualified pension plans where assets exceed projected benefit obligations.

Benefit Obligations in Excess of Plan Assets

At December 2018, the status of CSX plans with a net liability only is disclosed below. The total fair value of all plan assets as of December 2018 was $2.4 billion, which includes the qualified pension plans with net assets.



	Aggregate
(Dollars in Millions)	Fair Value		Aggregate
Benefit Obligations in Excess of Plan Assets	of Plan Assets		Benefit Obligation
Projected Benefit Obligation	$	2,337	$	(2,677	)
Accumulated Benefit Obligation	2,337		(2,542		)

Schedule of Net Benefit Expense

The following table describes the components of expense/(income) related to net benefit expense recorded on the income statement.



	Pension Benefits Fiscal Years									Post-retirement Benefits Fiscal Years
(Dollars in Millions)	2018			2017			2016			2018			2017		2016
Service Cost Included in Labor and Fringe	$	32		$	36		$	48		$	2		$	2	$	2

Interest Cost	92			92			119			7			7		12
Expected Return on Plan Assets	(176		)	(171		)	(157		)	—			—		—
Amortization of Net Loss	41			41			48			—			—		3
Amortization of Prior Service Cost	—			—			—			(2		)	—		—
Total Income Included in Other Income - Net	(43		)	(38		)	10			5			7		15
Net Periodic Benefit Cost	$	(11	)	$	(2	)	$	58		$	7		$	9	$	17
Restructuring Charge - Non Operating^(a)	—			60			—			—			13		—
Settlement (Gain) Loss	(1		)	11			(1		)	—			—		—
Total (Credit) Expense	$	(12	)	$	69		$	57		$	7		$	22	$	17

(a) Charges related to special termination benefits and curtailment costs were the result of the management workforce reductions in first quarter 2017. See Restructuring Charge in Note 1, Nature of Operations and Significant Accounting Policies.

Schedule of Pre-tax Change in Other Comprehensive Loss (Income)

The following table shows the pre-tax change in other comprehensive loss (income) attributable to certain components of net benefit expense and the change in benefit obligation for CSX for pension and other post-employment benefits.



(Dollars in Millions)	Pension Benefits						Post-retirement Benefits
Components of Other Comprehensive	December			December			December			December
Loss (Income)	2018			2017			2018			2017
Recognized in the Balance Sheet
Losses (Gains)	$	223		$	(131	)	$	(112	)	$	(17	)
Expense (Income) Recognized in the Income Statement
Amortization of Net Losses ^(a)	$	41		$	41		$	—		$	—
Settlement (Gain) Loss	(1		)	11			—			—
Curtailment Loss	—			4			—			—
Amortization of Prior Service Costs	—			—			(2		)	—


(a)	Amortization of net losses estimated to be expensed for 2019 is approximately $43 million for pension benefits.

Schedule of Weighted-Average Assumptions Used

The weighted averages of assumptions used by the Company to value its pension and post-retirement obligations were as follows:



	Pension Benefits					Post-retirement Benefits
	2018		2017			2018			2017
Expected Long-term Return on Plan Assets:
Benefit Cost for Current Plan Year	6.75	%	6.75	%		N/A			N/A
Benefit Cost for Subsequent Plan Year	6.75	%	6.75	%		N/A			N/A

Discount Rates:
Benefit Cost for Plan Year
Service Cost for Plan Year	3.74	%	4.26	%	^(a)	4.14	%	^(c)	4.11	%	^(b)
Interest Cost for Plan Year	3.15	%	3.26	%	^(a)	3.45	%	^(c)	2.78	%	^(b)
Benefit Obligation at End of Plan Year	4.24	%	3.56	%		3.98	%		3.34	%

Salary Scale Inflation	4.60	%	4.60	%		N/A			N/A


(a)	The pension benefits service cost and interest cost for 2017 were based on a weighted average discount rate of 4.35% and 3.37%, respectively, prior to the management workforce reduction program initiated in 2017 and were reduced to 4.26% and 3.26%, respectively, after the Company remeasured the pension benefits obligation and pension plan assets in the second quarter of 2017.


(b)	The post-retirement benefits service cost and interest cost for 2017 were based on a weighted average discount rate of 4.20% and 2.88%, respectively, prior to the management workforce reduction program initiated in 2017 and were reduced to 4.11% and 2.78%, respectively, after the Company remeasured the other post-retirement benefits obligation in the first quarter of 2017.


(c)	The post-retirement benefits service cost and interest cost for 2018 were based on a weighted average discount rate of 3.68% and 2.79%, respectively, prior to the post-retirement plan amendments approved in 2018 and were increased to 4.14% and 3.45%, respectively, after the Company remeasured the other post-retirement benefits obligation in the fourth quarter of 2018.