Employee Benefit Plans

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company sponsors defined benefit pension plans principally for salaried, management personnel. CSX also sponsors a non-contributory post-retirement medical plan and a life insurance plan that provide certain benefits to eligible employees hired prior to January 1, 2003. Independent actuaries compute the amounts of liabilities and expenses relating to these plans subject to the assumptions that the Company determines are appropriate based on historical trends, current market rates and future projections. These amounts are reviewed by management.

Only the service cost component of net periodic benefit costs is included in labor and fringe expense on the consolidated income statement. All other components of net periodic benefit cost are included in other income - net.

	Pension Benefits Cost
(Dollars in millions)	Third Quarters						Nine Months
	2019			2018			2019			2018
Service Cost Included in Labor and Fringe	$	8		$	8		$	24		$	24
Interest Cost	25			23			77			69
Expected Return on Plan Assets	(43		)	(44		)	(129		)	(131		)
Amortization of Net Loss	8			10			23			30
Total Included in Other Income - Net	(10		)	(11		)	(29		)	(32		)
Net Periodic Benefit Credit	$	(2	)	$	(3	)	$	(5	)	$	(8	)
	Other Post-retirement Benefits Cost
(Dollars in millions)	Third Quarters						Nine Months
	2019			2018			2019			2018
Service Cost Included in Labor and Fringe	$	—		$	—		$	1		$	1
Interest Cost	—			2			2			5
Amortization of Prior Service Costs	(2		)	—			(5		)	—
Total Included in Other Income - Net	(2		)	2			(3		)	5
Net Periodic Benefit (Credit)/Cost	$	(2	)	$	2		$	(2	)	$	6

Qualified pension plan obligations are funded in accordance with regulatory requirements and with an objective of meeting or exceeding minimum funding requirements necessary to avoid restrictions on flexibility of plan operation and benefit payments. No contributions to the Company's qualified pension plans are required in 2019.