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Summarized Consolidating Financial Data (Tables) | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Consolidating Income Statements |
Consolidating Income Statements
(Dollars in millions)
First Quarter 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 2,851 |  | $ | 18 |  | $ | 2,869 |
Expense | (48 | ) | 2,228 |  | (23 | ) | 2,157 |
Operating Income | 48 |  | 623 |  | 41 |  | 712 |
Equity in Earnings of Subsidiaries | 422 |  | — |  | (422 | ) | — |
Interest (Expense) / Benefit | (142 | ) | (10 | ) | 15 |  | (137 | )
Other Income / (Expense) - Net | 3 |  | 11 |  | (7 | ) | 7 |
Earnings Before Income Taxes | 331 |  | 624 |  | (373 | ) | 582 |
Income Tax Benefit / (Expense) | 31 |  | (235 | ) | (16 | ) | (220 | )
Net Earnings | $ | 362 |  | $ | 389 |  | $ | (389 | ) | $ | 362 |
Total Comprehensive Earnings | $ | 368 |  | $ | 387 |  | $ | (387 | ) | $ | 368 |
First Quarter 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 2,598 |  | $ | 20 |  | $ | 2,618 |
Expense | (72 | ) | 2,064 |  | (78 | ) | 1,914 |
Operating Income | 72 |  | 534 |  | 98 |  | 704 |
Equity in Earnings of Subsidiaries | 401 |  | — |  | (401 | ) | — |
Interest (Expense) / Benefit | (143 | ) | (10 | ) | 10 |  | (143 | )
Other Income / (Expense) - Net | 1 |  | 7 |  | (1 | ) | 7 |
Earnings Before Income Taxes | 331 |  | 531 |  | (294 | ) | 568 |
Income Tax (Expense) / Benefit | 25 |  | (198 | ) | (39 | ) | (212 | )
Net Earnings | $ | 356 |  | $ | 333 |  | $ | (333 | ) | $ | 356 |
Total Comprehensive Earnings | $ | 363 |  | $ | 332 |  | $ | (332 | ) | $ | 363 |
Consolidating Balance Sheet |
Consolidating Balance Sheet
(Dollars in millions)
March 31, 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
ASSETS
Current Assets |  |  |  |
Cash and Cash Equivalents | $ | 648 |  | $ | 272 |  | $ | 10 |  | $ | 930 |
Short-term Investments | 285 |  | — |  | 2 |  | 287 |
Accounts Receivable - Net | 2 |  | 198 |  | 743 |  | 943 |
Receivable from Affiliates | 1,122 |  | 2,397 |  | (3,519 | ) | — |
Materials and Supplies | — |  | 415 |  | — |  | 415 |
Other Current Assets | — |  | 74 |  | 11 |  | 85 |
Total Current Assets | 2,057 |  | 3,356 |  | (2,753 | ) | 2,660 |
Properties | 1 |  | 40,670 |  | 2,728 |  | 43,399 |
Accumulated Depreciation | (1 | ) | (10,662 | ) | (1,477 | ) | (12,140 | )
Properties - Net | — |  | 30,008 |  | 1,251 |  | 31,259 |
Investments in Conrail | — |  | — |  | 847 |  | 847 |
Affiliates and Other Companies | (39 | ) | 646 |  | 15 |  | 622 |
Investments in Consolidated Subsidiaries | 24,434 |  | — |  | (24,434 | ) | — |
Other Long-term Assets | 2 |  | 603 |  | (281 | ) | 324 |
Total Assets | $ | 26,454 |  | $ | 34,613 |  | $ | (25,355 | ) | $ | 35,712 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Current Liabilities |  |  |  |
Accounts Payable | $ | 171 |  | $ | 698 |  | $ | 29 |  | $ | 898 |
Labor and Fringe Benefits Payable | 34 |  | 383 |  | 28 |  | 445 |
Payable to Affiliates | 3,478 |  | 475 |  | (3,953 | ) | — |
Casualty, Environmental and Other Reserves | — |  | 102 |  | 12 |  | 114 |
Current Maturities of Long-term Debt | 313 |  | 19 |  | (1 | ) | 331 |
Income and Other Taxes Payable | (29 | ) | 310 |  | 21 |  | 302 |
Other Current Liabilities | — |  | 178 |  | 9 |  | 187 |
Total Current Liabilities | 3,967 |  | 2,165 |  | (3,855 | ) | 2,277 |
Casualty, Environmental and Other Reserves | — |  | 203 |  | 49 |  | 252 |
Long-term Debt | 10,206 |  | 757 |  | — |  | 10,963 |
Deferred Income Taxes - Net | (207 | ) | 9,592 |  | 263 |  | 9,648 |
Other Long-term Liabilities | 832 |  | 396 |  | (325 | ) | 903 |
Total Liabilities | $ | 14,798 |  | $ | 13,113 |  | $ | (3,868 | ) | $ | 24,043 |
Shareholders' Equity |  |  |  |
Common Stock, $1 Par Value | $ | 923 |  | $ | 181 |  | $ | (181 | ) | $ | 923 |
Other Capital | 170 |  | 5,095 |  | (5,095 | ) | 170 |
Retained Earnings | 11,197 |  | 16,232 |  | (16,232 | ) | 11,197 |
Accumulated Other Comprehensive Loss | (634 | ) | (21 | ) | 21 |  | (634 | )
Noncontrolling Interest | — |  | 13 |  | — |  | 13 |
Total Shareholders' Equity | $ | 11,656 |  | $ | 21,500 |  | $ | (21,487 | ) | $ | 11,669 |
Total Liabilities and Shareholders' Equity | $ | 26,454 |  | $ | 34,613 |  | $ | (25,355 | ) | $ | 35,712 |
Consolidating Balance Sheet (Dollars in millions)
December 30, 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
ASSETS
Current Assets |  |  |  |
Cash and Cash Equivalents | $ | 305 |  | $ | 281 |  | $ | 17 |  | $ | 603 |
Short-term Investments | 415 |  | — |  | 2 |  | 417 |
Accounts Receivable - Net | 2 |  | 215 |  | 721 |  | 938 |
Receivable from Affiliates | 1,157 |  | 2,351 |  | (3,508 | ) | — |
Materials and Supplies | — |  | 407 |  | — |  | 407 |
Other Current Assets | — |  | 106 |  | 16 |  | 122 |
Total Current Assets | 1,879 |  | 3,360 |  | (2,752 | ) | 2,487 |
Properties | 1 |  | 40,518 |  | 2,708 |  | 43,227 |
Accumulated Depreciation | (1 | ) | (10,634 | ) | (1,442 | ) | (12,077 | )
Properties - Net | — |  | 29,884 |  | 1,266 |  | 31,150 |
Investments in Conrail | — |  | — |  | 840 |  | 840 |
Affiliates and Other Companies | (39 | ) | 643 |  | 15 |  | 619 |
Investment in Consolidated Subsidiaries | 24,179 |  | — |  | (24,179 | ) | — |
Other Long-term Assets | 2 |  | 607 |  | (291 | ) | 318 |
Total Assets | $ | 26,021 |  | $ | 34,494 |  | $ | (25,101 | ) | $ | 35,414 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Current Liabilities |  |  |  |
Accounts Payable | $ | 95 |  | $ | 678 |  | $ | 33 |  | $ | 806 |
Labor and Fringe Benefits Payable | 40 |  | 440 |  | 65 |  | 545 |
Payable to Affiliates | 3,457 |  | 500 |  | (3,957 | ) | — |
Casualty, Environmental and Other Reserves | — |  | 102 |  | 13 |  | 115 |
Current Maturities of Long-term Debt | 313 |  | 19 |  | (1 | ) | 331 |
Income and Other Taxes Payable | (346 | ) | 459 |  | 16 |  | 129 |
Other Current Liabilities | — |  | 112 |  | 2 |  | 114 |
Total Current Liabilities | 3,559 |  | 2,310 |  | (3,829 | ) | 2,040 |
Casualty, Environmental and Other Reserves | — |  | 208 |  | 51 |  | 259 |
Long-term Debt | 10,203 |  | 759 |  | — |  | 10,962 |
Deferred Income Taxes - Net | (203 | ) | 9,541 |  | 258 |  | 9,596 |
Other Long-term Liabilities | 783 |  | 410 |  | (330 | ) | 863 |
Total Liabilities | $ | 14,342 |  | $ | 13,228 |  | $ | (3,850 | ) | $ | 23,720 |
Shareholders' Equity |  |  |  |
Common Stock, $1 Par Value | $ | 928 |  | $ | 181 |  | $ | (181 | ) | $ | 928 |
Other Capital | 138 |  | 5,095 |  | (5,095 | ) | 138 |
Retained Earnings | 11,253 |  | 15,994 |  | (15,994 | ) | 11,253 |
Accumulated Other Comprehensive Loss | (640 | ) | (19 | ) | 19 |  | (640 | )
Noncontrolling Minority Interest | — |  | 15 |  | — |  | 15 |
Total Shareholders' Equity | $ | 11,679 |  | $ | 21,266 |  | $ | (21,251 | ) | $ | 11,694 |
Total Liabilities and Shareholders' Equity | $ | 26,021 |  | $ | 34,494 |  | $ | (25,101 | ) | $ | 35,414 |
Consolidating Cash Flow Statements |
Consolidating Cash Flow Statements
(Dollars in millions)
Three Months 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 644 |  | $ | 566 |  | $ | (167 | ) | $ | 1,043 |
Investing Activities |  |  |  |
Property Additions | — |  | (397 | ) | (44 | ) | (441 | )
Purchases of Short-term Investments | (75 | ) | — |  | — |  | (75 | )
Proceeds from Sales of Short-term Investments | 205 |  | — |  | — |  | 205 |
Other Investing Activities | (1 | ) | (24 | ) | 50 |  | 25 |
Net Cash Provided by (Used in) Investing Activities | 129 |  | (421 | ) | 6 |  | (286 | )
Financing Activities |  |  |  |
Dividends Paid | (166 | ) | (150 | ) | 150 |  | (166 | )
Shares Repurchased | (258 | ) | — |  | — |  | (258 | )
Other Financing Activities | (6 | ) | (4 | ) | 4 |  | (6 | )
Net Cash Provided by (Used in) Financing Activities | (430 | ) | (154 | ) | 154 |  | (430 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 343 |  | (9 | ) | (7 | ) | 327 |
Cash and Cash Equivalents at Beginning of Period | 305 |  | 281 |  | 17 |  | 603 |
Cash and Cash Equivalents at End of Period | $ | 648 |  | $ | 272 |  | $ | 10 |  | $ | 930 |
NOTE 11. Summarized Consolidating Financial Data, continued
Consolidating Cash Flow Statements
(Dollars in millions)
Three Months 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 36 |  | $ | 834 |  | $ | (116 | ) | $ | 754 |
Investing Activities |  |  |  |
Property Additions | — |  | (391 | ) | (34 | ) | (425 | )
Purchases of Short-term Investments | (235 | ) | — |  | — |  | (235 | )
Proceeds from Sales of Short-term Investments | 670 |  | — |  | — |  | 670 |
Other Investing Activities | (1 | ) | 26 |  | 6 |  | 31 |
Net Cash Provided by (Used in) Investing Activities | 434 |  | (365 | ) | (28 | ) | 41 |
Financing Activities |  |  |  |
Dividends Paid | (173 | ) | (150 | ) | 150 |  | (173 | )
Shares Repurchased | (249 | ) | — |  | — |  | (249 | )
Other Financing Activities | 1 |  | (271 | ) | — |  | (270 | )
Net Cash Provided by (Used in) Financing Activities | (421 | ) | (421 | ) | 150 |  | (692 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 49 |  | 48 |  | 6 |  | 103 |
Cash and Cash Equivalents at Beginning of Period | 444 |  | 175 |  | 9 |  | 628 |
Cash and Cash Equivalents at End of Period | $ | 493 |  | $ | 223 |  | $ | 15 |  | $ | 731 |

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