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Summarized Consolidating Financial Data
 3 Months Ended
Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Summarized Consolidating Financial Data Summarized Consolidating Financial Data

In 2007, CSXT, a wholly-owned subsidiary of CSX Corporation, sold secured equipment notes maturing in 2023 in a registered public offering. CSX has fully and unconditionally guaranteed the notes. In connection with the notes, the Company is providing the following condensed consolidating financial information in accordance with SEC disclosure requirements. Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial statements, except for the use of the equity method of accounting to reflect ownership interests in subsidiaries which are eliminated upon consolidation and the allocation of certain expenses of CSX incurred for the benefit of its subsidiaries. Condensed consolidating financial information for the obligor, CSXT, and parent guarantor, CSX, is shown in the following tables.
 Consolidating Income Statements
 (Dollars in millions)
First Quarter 2019
 CSX Corporation
 CSX Transportation
Eliminations and Other
Consolidated
 Revenue
$
—

$
2,993

$
20

$
3,013

 Expense
(137
)
1,968

(37
)
1,794

 Operating Income
137

1,025

57

1,219

 
 
 
 
 
 Equity in Earnings of Subsidiaries
874

—

(874
)
—

 Interest (Expense) / Benefit
(216
)
(11
)
49

(178
)
 Other Income / (Expense) - Net
8

52

(37
)
23

 
 
 
 
 
 Earnings Before Income Taxes
803

1,066

(805
)
1,064

 Income Tax Benefit / (Expense)
31

(245
)
(16
)
(230
)
 Net Earnings
$
834

$
821

$
(821
)
$
834

 
 
 
 
 
Total Comprehensive Earnings
$
836

$
819

$
(819
)
$
836

 
 
 
 
 
First Quarter 2018
 CSX Corporation
 CSX Transportation
Eliminations and Other
Consolidated
 Revenue
$
—

$
2,857

$
19

$
2,876

 Expense
(78
)
1,943

(33
)
1,832

 Operating Income
78

914

52

1,044

 
 
 
 
 
 Equity in Earnings of Subsidiaries
758

—

(758
)
—

 Interest (Expense) / Benefit
(164
)
(9
)
24

(149
)
 Other Income / (Expense) - Net
4

23

(10
)
17

 
 
 
 
 
 Earnings Before Income Taxes
676

928

(692
)
912

 Income Tax Benefit / (Expense)
19

(224
)
(12
)
(217
)
 Net Earnings
$
695

$
704

$
(704
)
$
695

 
 
 
 
 
Total Comprehensive Earnings
$
596

$
700

$
(700
)
$
596

Summarized Consolidating Financial Data, continued

 Consolidating Balance Sheet
 (Dollars in millions)
March 31, 2019
 CSX Corporation
 CSX Transportation
Eliminations and Other
Consolidated
 
 
 
 
 
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
1,032

$
143

$
13

$
1,188

 Short-term Investments
813

—

9

822

 Accounts Receivable - Net
—

1,058

48

1,106

 Receivable from Affiliates
1,022

5,498

(6,520
)
—

 Materials and Supplies
—

241

—

241

 Other Current Assets
—

109

13

122

   Total Current Assets
2,867

7,049

(6,437
)
3,479

 
 
 
 
 
 Properties
1

41,896

2,929

44,826

 Accumulated Depreciation
(1
)
(11,191
)
(1,646
)
(12,838
)
 Properties - Net
—

30,705

1,283

31,988

 
 
 
 
 
 Investments in Conrail
—

—

948

948

 Affiliates and Other Companies
(39
)
868

16

845

 Investments in Consolidated Subsidiaries
32,656

—

(32,656
)
—

 Right-of-Use Lease Asset
—

528

22

550

 Other Long-term Assets
—

596

(252
)
344

   Total Assets
$
35,484

$
39,746

$
(37,076
)
$
38,154

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
202

$
773

$
44

$
1,019

 Labor and Fringe Benefits Payable
33

348

25

406

 Payable to Affiliates
7,480

437

(7,917
)
—

 Casualty, Environmental and Other Reserves
—

98

14

112

 Current Maturities of Long-term Debt
—

18

—

18

 Income and Other Taxes Payable
(275
)
444

24

193

 Other Current Liabilities
1

165

12

178

   Total Current Liabilities
7,441

2,283

(7,798
)
1,926

 
 
 
 
 
 Casualty, Environmental and Other Reserves
—

172

35

207

 Long-term Debt
15,040

708

—

15,748

 Deferred Income Taxes - Net
(129
)
6,645

227

6,743

 Long-term Lease Liability
—

487

15

502

 Other Long-term Liabilities
704

213

(334
)
583

   Total Liabilities
$
23,056

$
10,508

$
(7,855
)
$
25,709

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
809

$
181

$
(181
)
$
809

 Other Capital
267

5,096

(5,096
)
267

 Retained Earnings
12,011

23,893

(23,893
)
12,011

 Accumulated Other Comprehensive Loss
(659
)
51

(51
)
(659
)
 Noncontrolling Interest
—

17

—

17

 Total Shareholders' Equity
$
12,428

$
29,238

$
(29,221
)
$
12,445

 Total Liabilities and Shareholders' Equity
$
35,484

$
39,746

$
(37,076
)
$
38,154

Summarized Consolidating Financial Data, continued

Consolidating Balance Sheet
(Dollars in millions)
December 31, 2018
 CSX Corporation
 CSX Transportation
Eliminations and Other
 Consolidated
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
716

$
130

$
12

$
858

 Short-term Investments
250

—

3

253

 Accounts Receivable - Net
1

1,003

6

1,010

 Receivable from Affiliates
1,020

5,214

(6,234
)
—

 Materials and Supplies
—

263

—

263

 Other Current Assets
63

104

14

181

   Total Current Assets
2,050

6,714

(6,199
)
2,565

 
 
 
 
 
 Properties
1

41,897

2,907

44,805

 Accumulated Depreciation
(1
)
(11,194
)
(1,612
)
(12,807
)
 Properties - Net
—

30,703

1,295

31,998

 
 
 
 
 
 Investments in Conrail
—

—

943

943

 Affiliates and Other Companies
(39
)
859

16

836

 Investment in Consolidated Subsidiaries
32,033

—

(32,033
)
—

 Other Long-term Assets
2

598

(213
)
387

   Total Assets
$
34,046

$
38,874

$
(36,191
)
$
36,729

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
132

$
763

$
54

$
949

 Labor and Fringe Benefits Payable
41

440

69

550

 Payable to Affiliates
6,973

633

(7,606
)
—

 Casualty, Environmental and Other Reserves
—

99

14

113

 Current Maturities of Long-term Debt
—

18

—

18

 Income and Other Taxes Payable
(290
)
392

4

106

 Other Current Liabilities
11

162

6

179

   Total Current Liabilities
6,867

2,507

(7,459
)
1,915

 
 
 
 
 
 Casualty, Environmental and Other Reserves
—

176

35

211

 Long-term Debt
14,029

710

—

14,739

 Deferred Income Taxes - Net
(134
)
6,601

223

6,690

 Other Long-term Liabilities
721

211

(338
)
594

   Total Liabilities
$
21,483

$
10,205

$
(7,539
)
$
24,149

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
818

$
181

$
(181
)
$
818

 Other Capital
249

5,096

(5,096
)
249

 Retained Earnings
12,157

23,322

(23,322
)
12,157

 Accumulated Other Comprehensive Loss
(661
)
53

(53
)
(661
)
 Noncontrolling Minority Interest
—

17

—

17

   Total Shareholders' Equity
$
12,563

$
28,669

$
(28,652
)
$
12,580

   Total Liabilities and Shareholders' Equity
$
34,046

$
38,874

$
(36,191
)
$
36,729

Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements
(Dollars in millions)
Three Months 2019
CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
852

$
533

$
(212
)
$
1,173

Investing Activities
 

 
 
Property Additions
—

(319
)
(34
)
(353
)
Proceeds from Property Dispositions
—

51

(3
)
48

Purchases of Short-term Investments
(813
)
—

—

(813
)
Proceeds from Sales of Short-term Investments
250

—

—

250

Other Investing Activities
(1
)
(1
)
—

(2
)
Net Cash Provided by (Used in) Investing Activities
(564
)
(269
)
(37
)
(870
)
Financing Activities
 
 
 
 
Long-term Debt Issued
1,000

—

—

1,000

Dividends Paid
(195
)
(250
)
250

(195
)
Shares Repurchased
(796
)
—

—

(796
)
Other Financing Activities
19

(1
)
—

18

Net Cash Provided by (Used in) Financing Activities
28

(251
)
250

27

Net Increase (Decrease) in Cash and Cash Equivalents
316

13

1

330

Cash and Cash Equivalents at Beginning of Period
716

130

12

858

Cash and Cash Equivalents at End of Period
$
1,032

$
143

$
13

$
1,188



NOTE 13.    Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements
(Dollars in millions)
Three Months 2018
 CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
691

$
621

$
(346
)
$
966

Investing Activities
 
 
 
 
Property Additions
—

(339
)
(29
)
(368
)
Proceeds from Property Dispositions
—

52

—

52

Proceeds from Sales of Short-term Investments
—

—

8

8

Other Investing Activities
(1
)
(120
)
113

(8
)
Net Cash (Used in) Provided by Investing Activities
(1
)
(407
)
92

(316
)
Financing Activities
 
 
 
 
Long-term Debt Issued
2,000

—

—

2,000

Dividends Paid
(194
)
(250
)
250

(194
)
Shares Repurchased
(836
)
—

—

(836
)
Other Financing Activities
(40
)
(4
)
3

(41
)
Net Cash Provided by (Used in) Financing Activities
930

(254
)
253

929

Net Increase (Decrease) in Cash and Cash Equivalents
1,620

(40
)
(1
)
1,579

Cash and Cash Equivalents at Beginning of Period
274

121

6

401

Cash and Cash Equivalents at End of Period
$
1,894

$
81

$
5

$
1,980