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Stock Plans and Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Pre-tax Expense and Income Tax Benefits Associated with Share-Based Compensation Total pre-tax expense and income tax benefits associated with share-based compensation are shown in the table below. Income tax benefits include impacts from option exercises and the vesting of other equity awards.
Second QuartersSix Months
(Dollars in millions)2021202020212020
Share-Based Compensation Expense:
Performance Units$20 $(17)38 $(8)
Stock Options4 3 10 13 
Restricted Stock Units and Awards2 1 7 3 
Stock Awards for Directors— 1 2 2 
Employee Stock Purchase Plan1 — 2 2 
Total Share-Based Compensation Expense$27 $(12)$59 $12 
Income Tax Benefit$6 $2 $15 $11 
Schedule of Weighted Average Assumptions Used for Performance Units The fair values of the performance units awarded during the six months ended 2021 and 2020 were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
Second QuartersSix Months
2021202020212020
Weighted-Average Assumptions Used:
Risk-free Interest Rate0.2 %N/A0.2 %1.4 %
Annualized Volatility34.3 %N/A33.6 %24.5 %
Expected Life (in years)
2.6N/A2.92.9
Schedule of Fair Value Assumptions Used for Stock Options The fair values of all stock option awards during the quarters and six months ended June 30, 2021 and June 30, 2020 were estimated at the grant date with the following weighted average assumptions:
Second QuartersSix Months
2021202020212020
Weighted-Average Grant Date Fair Value$9.18$5.92$7.89$6.29
Weighted-Average Assumptions Used:
Annual Dividend Yield1.1 %1.5 %1.2 %1.2 %
Risk-Free Interest Rate1.0 %0.5 %0.7 %1.4 %
Annualized Volatility31.0 %30.1 %31.2 %26.0 %
Expected Life (in years)6.06.56.06.0
Other Pricing Model Inputs:
Weighted-Average Grant Date Market Price of CSX Stock (strike price)$33.35$23.62$29.53$26.49
Schedule of Shares Issued Under Employee Stock Purchase Plan During the second quarter and six months ended June 30, 2021 and June 30, 2020, the Company issued the following shares under this program:
Six Months
20212020
Shares issued (in thousands)396 366 
Weighted average purchase price per share$19.33 $20.50