XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Third QuarterFirst Nine Months
2024202320242023
($ in millions)
Stock-based compensation expense$(5)$10 $27 $32 
Total tax benefit (expense)(1)2 7 11 

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:

Third QuarterFirst Nine Months
GrantedWeighted-Average Grant-Date Fair ValueGrantedWeighted-Average Grant-Date Fair Value
Stock options28,510 $70.14 100,940 $77.27 
RSUs19,873 247.86 246,382 235.68 
PSUs850 255.22 58,870 258.97 
Stock Options
Third QuarterFirst Nine Months
2024202320242023
($ in millions)
Options exercised142,8339,934 257,807 87,206 
Cash received upon exercise$20 $1 $31 $7 
Related tax benefits realized3 — 6 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. 
Third QuarterFirst Nine Months
2024202320242023
($ in millions)
RSUs vested1,836 2,587 170,981 155,617 
Common Stock issued net of tax withholding1,391 1,734 118,657 109,153 
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 third quarters of 2024 and 2023.

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