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Stock Plans and Share-Based Compensation (Tables)
 9 Months Ended
Sep. 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.
Third QuartersNine Months
(Dollars in millions)2022202120222021
Share-Based Compensation Expense:
Performance Units$1 $6 $27 $44 
Stock Options3 3 13 13 
Restricted Stock Units and Awards2 3 11 10 
Employee Stock Purchase Plan2 1 4 3 
Stock Awards for Directors— — 2 2 
Total Share-Based Compensation Expense$8 $13 $57 $72 
Income Tax Benefit$3 $4 $15 $19 
Schedule of Weighted Average Assumptions Used for Performance Units The fair values of the performance units awarded during the third quarters and nine months 2022 and 2021 were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
Third QuartersNine Months
2022202120222021
Weighted-Average Assumptions Used:
Risk-free Interest Rate4.3 %N/A2.3 %0.2 %
Annualized Volatility33.2 %N/A33.0 %33.6 %
Expected Life (in years)
2.3N/A2.72.9
Schedule of Fair Value Assumptions Used for Stock Options The fair values of all stock option awards during the quarters and nine months ended September 30, 2022 and September 30, 2021 were estimated at the grant date with the following weighted average assumptions:
Third QuartersNine Months
2022202120222021
Weighted-Average Grant Date Fair Value$9.96$8.86$10.12$7.94
Weighted-Average Assumptions Used:
Annual Dividend Yield1.3 %1.2 %1.1 %1.2 %
Risk-Free Interest Rate3.3 %1.0 %2.0 %0.7 %
Annualized Volatility30.2 %30.7 %30.1 %31.2 %
Expected Life (in years)6.36.36.06.0
Other Pricing Model Inputs:
Weighted-Average Grant Date Market Price of CSX Stock (strike price)$31.61$32.18$35.12$29.65
Schedule of Shares Issued Under Employee Stock Purchase Plan During the third quarter and nine months ended September 30, 2022 and September 30, 2021, the Company issued the following shares:
Third QuartersNine Months
2022202120222021
Shares Issued (in thousands)400 334 726 730 
Weighted Average Purchase Price per Share$24.70 $24.93 $25.93 $21.90