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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Second QuarterFirst Six Months
2024202320242023
($ in millions)
Stock-based compensation expense$13 $11 $32 $22 
Total tax benefit3 3 8 9 

During 2024, we granted stock options, restricted stock units (RSUs) and performance share units (PSUs) pursuant to the Long-Term Incentive Plan (LTIP), as follows:

Second QuarterFirst Six Months
GrantedWeighted-Average Grant-Date Fair ValueGrantedWeighted-Average Grant-Date Fair Value
Stock options8,090 $83.48 72,430 $80.08 
RSUs29,941 240.18 226,509 234.61 
PSUs5,420 248.86 58,020 259.02 
Stock Options
Second QuarterFirst Six Months
2024202320242023
($ in millions)
Options exercised17,75710,461 114,974 77,272 
Cash received upon exercise$2 $1 $11 $6 
Related tax benefits realized— — 3 3 

Restricted Stock Units

RSUs granted primarily have a four-year ratable restriction period and will be settled through the issuance of shares of Norfolk Southern common stock (Common Stock). Certain RSU grants include cash dividend equivalent payments during the restriction period in an amount equal to the regular quarterly dividends paid on Common Stock. 
Second QuarterFirst Six Months
2024202320242023
($ in millions)
RSUs vested12,494 3,908 169,145 153,030 
Common Stock issued net of tax withholding9,016 2,811 117,266 107,419 
Related tax benefits realized$— $— $— $1 

Performance Share Units

PSUs provide for awards based on the achievement of certain predetermined corporate performance goals at the end of a three-year cycle and are settled through the issuance of shares of Common Stock. All PSUs will earn out based on the achievement of performance conditions and some will also earn out based on a market condition. The market condition fair value was measured on the date of grant using a Monte Carlo simulation model. No PSUs were earned or paid out during the second quarters of 2024 and 2023.

First Six Months
20242023
($ in millions)
PSUs earned41,580 58,599 
Common Stock issued net of tax withholding26,056 40,255 
Related tax benefits realized$— $—