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Summarized Consolidating Financial Data (Tables) | 9 Months Ended
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Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Consolidating Income Statements |
Consolidating Income Statements
(Dollars in millions)
Third Quarter 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 2,725 |  | $ | 18 |  | $ | 2,743 |
Expense | (129 | ) | 2,025 |  | (29 | ) | 1,867 |
Operating Income | 129 |  | 700 |  | 47 |  | 876 |
Equity in Earnings of Subsidiaries | 472 |  | — |  | (472 | ) | — |
Interest (Expense) / Benefit | (147 | ) | (3 | ) | 18 |  | (132 | )
Other Income / (Expense) - Net | 1 |  | 13 |  | (8 | ) | 6 |
Earnings Before Income Taxes | 455 |  | 710 |  | (415 | ) | 750 |
Income Tax Benefit / (Expense) | 4 |  | (277 | ) | (18 | ) | (291 | )
Net Earnings | $ | 459 |  | $ | 433 |  | $ | (433 | ) | $ | 459 |
Total Comprehensive Earnings | $ | 467 |  | $ | 433 |  | $ | (433 | ) | $ | 467 |
Third Quarter 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 2,691 |  | $ | 19 |  | $ | 2,710 |
Expense | (63 | ) | 1,960 |  | (28 | ) | 1,869 |
Operating Income | 63 |  | 731 |  | 47 |  | 841 |
Equity in Earnings of Subsidiaries | 505 |  | 1 |  | (506 | ) | — |
Interest (Expense) / Benefit | (141 | ) | (7 | ) | 9 |  | (139 | )
Other Income / (Expense) - Net | — |  | 9 |  | 4 |  | 13 |
Earnings Before Income Taxes | 427 |  | 734 |  | (446 | ) | 715 |
Income Tax (Expense) / Benefit | 28 |  | (268 | ) | (20 | ) | (260 | )
Net Earnings | $ | 455 |  | $ | 466 |  | $ | (466 | ) | $ | 455 |
Total Comprehensive Earnings | $ | 465 |  | $ | 467 |  | $ | (467 | ) | $ | 465 |
Consolidating Income Statements
(Dollars in millions)
Nine Months 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 8,490 |  | $ | 55 |  | $ | 8,545 |
Expense | (171 | ) | 6,278 |  | (108 | ) | 5,999 |
Operating Income | 171 |  | 2,212 |  | 163 |  | 2,546 |
Equity in Earnings of Subsidiaries | 1,506 |  | — |  | (1,506 | ) | — |
Interest (Expense) / Benefit | (432 | ) | (21 | ) | 47 |  | (406 | )
Other Income / (Expense) - Net | 6 |  | 32 |  | (19 | ) | 19 |
Earnings Before Income Taxes | 1,251 |  | 2,223 |  | (1,315 | ) | 2,159 |
Income Tax (Expense) / Benefit | 80 |  | (844 | ) | (64 | ) | (828 | )
Net Earnings | $ | 1,331 |  | $ | 1,379 |  | $ | (1,379 | ) | $ | 1,331 |
Total Comprehensive Earnings | $ | 1,410 |  | $ | 1,378 |  | $ | (1,378 | ) | $ | 1,410 |
Nine Months 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 7,974 |  | $ | 58 |  | $ | 8,032 |
Expense | (202 | ) | 5,985 |  | (136 | ) | 5,647 |
Operating Income | 202 |  | 1,989 |  | 194 |  | 2,385 |
Equity in Earnings of Subsidiaries | 1,399 |  | 1 |  | (1,400 | ) | — |
Interest (Expense) / Benefit | (425 | ) | (27 | ) | 29 |  | (423 | )
Other Income / (Expense) - Net | 1 |  | 24 |  | 3 |  | 28 |
Earnings Before Income Taxes | 1,177 |  | 1,987 |  | (1,174 | ) | 1,990 |
Income Tax (Expense) / Benefit | 79 |  | (735 | ) | (78 | ) | (734 | )
Net Earnings | $ | 1,256 |  | $ | 1,252 |  | $ | (1,252 | ) | $ | 1,256 |
Total Comprehensive Earnings | $ | 1,282 |  | $ | 1,253 |  | $ | (1,253 | ) | $ | 1,282 |
Consolidating Balance Sheet |
Consolidating Balance Sheet
(Dollars in millions)
September 30, 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
ASSETS
Current Assets |  |  |  |
Cash and Cash Equivalents | $ | 433 |  | $ | 147 |  | $ | 11 |  | $ | 591 |
Short-term Investments | 100 |  | — |  | 13 |  | 113 |
Accounts Receivable - Net | (1 | ) | 277 |  | 705 |  | 981 |
Receivable from Affiliates | 1,012 |  | 3,004 |  | (4,016 | ) | — |
Materials and Supplies | — |  | 392 |  | — |  | 392 |
Other Current Assets | 2 |  | 76 |  | 17 |  | 95 |
Total Current Assets | 1,546 |  | 3,896 |  | (3,270 | ) | 2,172 |
Properties | 1 |  | 41,292 |  | 2,812 |  | 44,105 |
Accumulated Depreciation | (1 | ) | (11,014 | ) | (1,511 | ) | (12,526 | )
Properties - Net | — |  | 30,278 |  | 1,301 |  | 31,579 |
Investments in Conrail | — |  | — |  | 864 |  | 864 |
Affiliates and Other Companies | (39 | ) | 667 |  | 14 |  | 642 |
Investments in Consolidated Subsidiaries | 25,221 |  | — |  | (25,221 | ) | — |
Other Long-term Assets | 9 |  | 592 |  | (285 | ) | 316 |
Total Assets | $ | 26,737 |  | $ | 35,433 |  | $ | (26,597 | ) | $ | 35,573 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Current Liabilities |  |  |  |
Accounts Payable | $ | 178 |  | $ | 695 |  | $ | 32 |  | $ | 905 |
Labor and Fringe Benefits Payable | 76 |  | 483 |  | 42 |  | 601 |
Payable to Affiliates | 4,148 |  | 382 |  | (4,530 | ) | — |
Casualty, Environmental and Other Reserves | — |  | 109 |  | 13 |  | 122 |
Current Maturities of Long-term Debt | — |  | 19 |  | — |  | 19 |
Income and Other Taxes Payable | (115 | ) | 418 |  | 19 |  | 322 |
Other Current Liabilities | — |  | 103 |  | 3 |  | 106 |
Total Current Liabilities | 4,287 |  | 2,209 |  | (4,421 | ) | 2,075 |
Casualty, Environmental and Other Reserves | — |  | 207 |  | 46 |  | 253 |
Long-term Debt | 11,053 |  | 735 |  | — |  | 11,788 |
Deferred Income Taxes - Net | (198 | ) | 9,697 |  | 290 |  | 9,789 |
Other Long-term Liabilities | 708 |  | 375 |  | (317 | ) | 766 |
Total Liabilities | $ | 15,850 |  | $ | 13,223 |  | $ | (4,402 | ) | $ | 24,671 |
Shareholders' Equity |  |  |  |
Common Stock, $1 Par Value | $ | 894 |  | $ | 181 |  | $ | (181 | ) | $ | 894 |
Other Capital | 227 |  | 5,096 |  | (5,096 | ) | 227 |
Retained Earnings | 10,327 |  | 16,938 |  | (16,938 | ) | 10,327 |
Accumulated Other Comprehensive Loss | (561 | ) | (20 | ) | 20 |  | (561 | )
Noncontrolling Interest | — |  | 15 |  | — |  | 15 |
Total Shareholders' Equity | $ | 10,887 |  | $ | 22,210 |  | $ | (22,195 | ) | $ | 10,902 |
Total Liabilities and Shareholders' Equity | $ | 26,737 |  | $ | 35,433 |  | $ | (26,597 | ) | $ | 35,573 |
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)
Nine Months 2017 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 1,590 |  | $ | 1,544 |  | $ | (273 | ) | $ | 2,861 |
Investing Activities |  |  |  |
Property Additions | — |  | (1,311 | ) | (151 | ) | (1,462 | )
Purchases of Short-term Investments | (639 | ) | — |  | (6 | ) | (645 | )
Proceeds from Sales of Short-term Investments | 955 |  | — |  | 2 |  | 957 |
Other Investing Activities | (2 | ) | 98 |  | (25 | ) | 71 |
Net Cash Provided by (Used in) Investing Activities | 314 |  | (1,213 | ) | (180 | ) | (1,079 | )
Financing Activities |  |  |  |
Long-term Debt Issued | 850 |  | — |  | — |  | 850 |
Long-term Debt Repaid | (312 | ) | (20 | ) | — |  | (332 | )
Dividends Paid | (530 | ) | (450 | ) | 450 |  | (530 | )
Shares Repurchased | (1,763 | ) | — |  | — |  | (1,763 | )
Other Financing Activities | (21 | ) | 5 |  | (3 | ) | (19 | )
Net Cash Provided by (Used in) Financing Activities | (1,776 | ) | (465 | ) | 447 |  | (1,794 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 128 |  | (134 | ) | (6 | ) | (12 | )
Cash and Cash Equivalents at Beginning of Period | 305 |  | 281 |  | 17 |  | 603 |
Cash and Cash Equivalents at End of Period | $ | 433 |  | $ | 147 |  | $ | 11 |  | $ | 591 |
NOTE 11. Summarized Consolidating Financial Data, continued
Consolidating Cash Flow Statements
(Dollars in millions)
Nine Months 2016 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 644 |  | $ | 2,089 |  | $ | (245 | ) | $ | 2,488 |
Investing Activities |  |  |  |
Property Additions | — |  | (1,469 | ) | (121 | ) | (1,590 | )
Purchases of Short-term Investments | (410 | ) | — |  | — |  | (410 | )
Proceeds from Sales of Short-term Investments | 1,070 |  | — |  | — |  | 1,070 |
Other Investing Activities | (3 | ) | 107 |  | (67 | ) | 37 |
Net Cash Provided by (Used in) Investing Activities | 657 |  | (1,362 | ) | (188 | ) | (893 | )
Financing Activities |  |  |  |
Long-term Debt Issued | — |  | — |  | — |  | — |
Long-term Debt Repaid | — |  | (18 | ) | (1 | ) | (19 | )
Dividends Paid | (513 | ) | (450 | ) | 450 |  | (513 | )
Shares Repurchased | (778 | ) | — |  | — |  | (778 | )
Other Financing Activities | (6 | ) | (304 | ) | — |  | (310 | )
Net Cash Provided by (Used in) Financing Activities | (1,297 | ) | (772 | ) | 449 |  | (1,620 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 4 |  | (45 | ) | 16 |  | (25 | )
Cash and Cash Equivalents at Beginning of Period | 444 |  | 175 |  | 9 |  | 628 |
Cash and Cash Equivalents at End of Period | $ | 448 |  | $ | 130 |  | $ | 25 |  | $ | 603 |

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