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Stock Plans and Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
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.
First Quarters
(Dollars in millions)20222021
Share-Based Compensation Expense:
Performance Units$20 $18 
Stock Options7 6 
Restricted Stock Units and Awards6 5 
Stock Awards for Directors2 2 
Employee Stock Purchase Plan1 1 
Total Share-Based Compensation Expense$36 $32 
Income Tax Benefit$9 $9 
Schedule of Weighted Average Assumptions Used for Performance Units were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
Three Months
20222021
Weighted-Average Assumptions Used:
Annual Dividend YieldN/AN/A
Risk-free Interest Rate1.7 %0.2 %
Annualized Volatility33.0 %33.6 %
Expected Life (in years)
2.92.9
Schedule of Fair Value Assumptions Used for Stock Options The fair values of all stock option awards during the quarters ended March 31, 2022 and March 31, 2021 were estimated at the grant date with the following weighted average assumptions:
First Quarters
20222021
Weighted-Average Grant Date Fair Value$10.11$7.88
Weighted-Average Assumptions Used:
Annual Dividend Yield1.1 %1.2%
Risk-Free Interest Rate1.9 %0.7%
Annualized Volatility30.1 %31.2%
Expected Life (in years)6.06.0
Other Pricing Model Inputs:
Weighted-Average Grant Date Market Price of CSX Stock (strike price)$35.15$29.49
Schedule of Shares Issued Under Employee Stock Purchase Plan During the first quarters ended March 31, 2022 and March 31, 2021, the Company issued the following shares under this program:
First Quarters
20222021
Shares issued (in thousands)326 396 
Weighted average purchase price per share$27.44 $19.33