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Stock Plans and Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation and Related Income Tax Benefit 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.
 Years Ended
(Dollars in Millions)202220212020
Share-Based Compensation Expense
Performance Units$35 $71 $(3)
Stock Options17 18 19 
Restricted Stock Units and Awards15 12 
Employee Stock Purchase Plan5 
Stock Awards for Directors2 
Total Share-based Compensation Expense$74 $107 $29 
Income Tax Benefit$17 $23 $19 
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Performance Units
The fair values of the performance units awarded during the years ended December 2022, 2021 and 2020 were calculated primarily using a Monte-Carlo simulation model with the following weighted-average assumptions:

Years Ended
Weighted-Average Assumptions Used:202220212020
Risk-free Interest Rate2.3 %0.2 %1.4 %
Annualized Volatility33.0 %33.6 %24.5 %
Expected Life (in years)
2.72.92.9
Schedule of Performance Unit Grant and Vesting Information
Performance unit grant and vesting information is summarized as follows:
 Years Ended
 202220212020
Weighted-Average Fair Value of Units Granted$33.89 $30.11 $25.39 
Fair Value of Units Vested (in millions)
$24 $19 $18 
Schedule of Performance Unit Activity Related to Outstanding Long-term Incentive Plans and Corresponding Fair Value
The performance unit activity related to the outstanding long-term incentive plans and corresponding fair value is summarized as follows:
 Performance Units Outstanding
(in Thousands)
Weighted-Average Fair Value at Grant Date
Unvested at December 31, 20211,576 $27.21 
Granted 670 33.89 
Forfeited (33)25.65 
Vested (959)25.52 
Unvested at December 31, 20221,254 $32.14 
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Stock Options
Assumptions and inputs used to estimate fair value of stock options are summarized as follows:
Years Ended
 202220212020
Weighted-Average Fair Value of Units Granted$10.12 $7.94 $6.31 
Stock Options Valuation Assumptions:
Annual Dividend Yield1.1 %1.2 %1.2 %
Risk-free Interest Rate2.0 %0.7 %1.4 %
Annualized Volatility30.1 %31.2 %26.1 %
Expected Life (in years)6.06.06.0
Other Pricing Model Inputs:
Weighted-average Grant-date Market Price of CSX Stock (Strike Price)$35.12 $29.65 $26.53 
Schedule of Stock Option Activity
The stock option activity is summarized as follows:
 Stock Options Outstanding
(in Thousands)
Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Life
(in Years)
Aggregate Intrinsic Value
(in Millions)
Outstanding at December 31, 202112,512 $22.42 
Granted 1,726 35.12 
Forfeited (123)30.19 
Exercised(715)21.53 
Outstanding at December 31, 202213,400 $24.03 6.6$100 
Exercisable at December 31, 20229,175 $20.85 5.8$93 
Schedule of Intrinsic Value and Cash Proceeds of Options Exercises Additional information on stock option exercises is summarized as follows:
Years Ended
(Dollars in Millions)202220212020
Intrinsic Value of Stock Options Exercised$9 $32 $30 
Cash Received from Option Exercises$15 $31 $29 
Schedule of Restricted Stock Grant and Vesting Information Restricted stock grant and vesting information is summarized as follows:
 Years Ended
 202220212020
Weighted-Average Fair Value of Units Granted$34.55 $29.84 $26.43 
Fair Value of Units and Awards Vested (In Millions)
$5 $12 $
Schedule of Outstanding Restricted Stock Units and Awards
The restricted stock activity related to the outstanding long-term incentive plans and other awards and corresponding fair value is summarized as follows:
 Restricted Stock Units and Awards Outstanding
(in Thousands)
Weighted-Average Fair Value at Grant Date
Unvested at December 31, 20211,023 $27.53 
Granted801 34.55 
Forfeited (54)29.85 
Vested (218)23.33 
Unvested at December 31, 20221,552 $31.68 
Schedule of Shares Issued under Employee Stock Purchase Plan During 2022, 2021 and 2020, the Company issued the following shares under this program.
 Years Ended
 202220212020
Shares Issued (In Thousands)
726 730 726 
Weighted Average Purchase Price Per Share$25.93 $21.90 $20.13