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Stock Plans and Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 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.
Second QuartersSix Months
(Dollars in millions)2022202120222021
Share-Based Compensation Expense:
Performance Units$6 $20 $26 $38 
Stock Options3 4 10 10 
Restricted Stock Units and Awards3 2 9 7 
Stock Awards for Directors— — 2 2 
Employee Stock Purchase Plan1 1 2 2 
Total Share-Based Compensation Expense$13 $27 $49 $59 
Income Tax Benefit$3 $6 $12 $15 
Schedule of Weighted Average Assumptions Used for Performance Units The fair values of the performance units awarded during the second quarters and six months 2022 and 2021 were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
Second QuartersSix Months
2022202120222021
Weighted-Average Assumptions Used:
Risk-free Interest Rate2.8 %0.2 %1.8 %0.2 %
Annualized Volatility33.8 %34.3 %33.0 %33.6 %
Expected Life (in years)
2.72.62.92.9
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, 2022 and June 30, 2021 were estimated at the grant date with the following weighted average assumptions:
Second QuartersSix Months
2022202120222021
Weighted-Average Grant Date Fair Value$10.65$9.18$10.13$7.89
Weighted-Average Assumptions Used:
Annual Dividend Yield1.1 %1.1 %1.1 %1.2 %
Risk-Free Interest Rate2.7 %1.0 %1.9 %0.7 %
Annualized Volatility30.3 %31.0 %30.1 %31.2 %
Expected Life (in years)6.16.06.06.0
Other Pricing Model Inputs:
Weighted-Average Grant Date Market Price of CSX Stock (strike price)$35.07$33.35$35.15$29.53
Schedule of Shares Issued Under Employee Stock Purchase Plan During the six months ended June 30, 2022 and June 30, 2021, the Company issued the following shares:
Six Months
20222021
Shares issued (in thousands)326 396 
Weighted average purchase price per share$27.44 $19.33