XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.19.2

Summarized Consolidating Financial Data (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract] |
Consolidating Income Statements |
Consolidating Income Statements
(Dollars in millions)
Second Quarter 2019 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 3,041 |  | $ | 20 |  | $ | 3,061 |
Expense | (138 | ) | 1,946 |  | (52 | ) | 1,756 |
Operating Income | 138 |  | 1,095 |  | 72 |  | 1,305 |
Equity in Earnings of Subsidiaries | 926 |  | — |  | (926 | ) | — |
Interest (Expense) / Benefit | (222 | ) | (10 | ) | 48 |  | (184 | )
Other Income / (Expense) - Net | 11 |  | 51 |  | (37 | ) | 25 |
Earnings Before Income Taxes | 853 |  | 1,136 |  | (843 | ) | 1,146 |
Income Tax Benefit / (Expense) | 17 |  | (276 | ) | (17 | ) | (276 | )
Net Earnings | $ | 870 |  | $ | 860 |  | $ | (860 | ) | $ | 870 |
Total Comprehensive Earnings | $ | 874 |  | $ | 859 |  | $ | (859 | ) | $ | 874 |
Second Quarter 2018 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Revenue | $ | — |  | $ | 3,083 |  | $ | 19 |  | $ | 3,102 |
Expense | (84 | ) | 1,948 |  | (45 | ) | 1,819 |
Operating Income | 84 |  | 1,135 |  | 64 |  | 1,283 |
Equity in Earnings of Subsidiaries | 942 |  | — |  | (942 | ) | — |
Interest (Expense) / Benefit | (181 | ) | (8 | ) | 32 |  | (157 | )
Other Income / (Expense) - Net | 6 |  | 29 |  | (17 | ) | 18 |
Earnings Before Income Taxes | 851 |  | 1,156 |  | (863 | ) | 1,144 |
Income Tax Benefit / (Expense) | 26 |  | (274 | ) | (19 | ) | (267 | )
Net Earnings | $ | 877 |  | $ | 882 |  | $ | (882 | ) | $ | 877 |
Total Comprehensive Earnings | $ | 881 |  | $ | 881 |  | $ | (881 | ) | $ | 881 |
Consolidating Balance Sheet |
Consolidating Balance Sheet
(Dollars in millions)
June 30, 2019 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
ASSETS
Current Assets |  |  |  |
Cash and Cash Equivalents | $ | 718 |  | $ | 124 |  | $ | 11 |  | $ | 853 |
Short-term Investments | 869 |  | — |  | 9 |  | 878 |
Accounts Receivable - Net | 2 |  | 1,058 |  | 51 |  | 1,111 |
Receivable from Affiliates | 921 |  | 6,166 |  | (7,087 | ) | — |
Materials and Supplies | — |  | 222 |  | — |  | 222 |
Other Current Assets | 3 |  | 98 |  | 21 |  | 122 |
Total Current Assets | 2,513 |  | 7,668 |  | (6,995 | ) | 3,186 |
Properties | 1 |  | 41,821 |  | 2,934 |  | 44,756 |
Accumulated Depreciation | (1 | ) | (11,074 | ) | (1,662 | ) | (12,737 | )
Properties - Net | — |  | 30,747 |  | 1,272 |  | 32,019 |
Investments in Conrail | — |  | — |  | 959 |  | 959 |
Affiliates and Other Companies | (39 | ) | 886 |  | 16 |  | 863 |
Investments in Consolidated Subsidiaries | 33,332 |  | — |  | (33,332 | ) | — |
Right-of-Use Lease Asset | — |  | 529 |  | 21 |  | 550 |
Other Long-term Assets | 3 |  | 591 |  | (247 | ) | 347 |
Total Assets | $ | 35,809 |  | $ | 40,421 |  | $ | (38,306 | ) | $ | 37,924 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Current Liabilities |  |  |  |
Accounts Payable | $ | 153 |  | $ | 783 |  | $ | 53 |  | $ | 989 |
Labor and Fringe Benefits Payable | 35 |  | 342 |  | 35 |  | 412 |
Payable to Affiliates | 8,154 |  | 411 |  | (8,565 | ) | — |
Casualty, Environmental and Other Reserves | — |  | 95 |  | 15 |  | 110 |
Current Maturities of Long-term Debt | — |  | 245 |  | — |  | 245 |
Income and Other Taxes Payable | (423 | ) | 519 |  | 37 |  | 133 |
Other Current Liabilities | — |  | 153 |  | 11 |  | 164 |
Total Current Liabilities | 7,919 |  | 2,548 |  | (8,414 | ) | 2,053 |
Casualty, Environmental and Other Reserves | — |  | 164 |  | 35 |  | 199 |
Long-term Debt | 15,042 |  | 480 |  | — |  | 15,522 |
Deferred Income Taxes - Net | (121 | ) | 6,690 |  | 222 |  | 6,791 |
Long-term Lease Liability | — |  | 486 |  | 15 |  | 501 |
Other Long-term Liabilities | 693 |  | 209 |  | (334 | ) | 568 |
Total Liabilities | $ | 23,533 |  | $ | 10,577 |  | $ | (8,476 | ) | $ | 25,634 |
Shareholders' Equity |  |  |  |
Common Stock, $1 Par Value | $ | 798 |  | $ | 181 |  | $ | (181 | ) | $ | 798 |
Other Capital | 290 |  | 5,096 |  | (5,096 | ) | 290 |
Retained Earnings | 11,843 |  | 24,503 |  | (24,503 | ) | 11,843 |
Accumulated Other Comprehensive Loss | (655 | ) | 50 |  | (50 | ) | (655 | )
Noncontrolling Interest | — |  | 14 |  | — |  | 14 |
Total Shareholders' Equity | $ | 12,276 |  | $ | 29,844 |  | $ | (29,830 | ) | $ | 12,290 |
Total Liabilities and Shareholders' Equity | $ | 35,809 |  | $ | 40,421 |  | $ | (38,306 | ) | $ | 37,924 |
Consolidating Balance Sheet (Dollars in millions)
December 31, 2018 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
ASSETS
Current Assets |  |  |  |
Cash and Cash Equivalents | $ | 716 |  | $ | 130 |  | $ | 12 |  | $ | 858 |
Short-term Investments | 250 |  | — |  | 3 |  | 253 |
Accounts Receivable - Net | 1 |  | 1,003 |  | 6 |  | 1,010 |
Receivable from Affiliates | 1,020 |  | 5,214 |  | (6,234 | ) | — |
Materials and Supplies | — |  | 263 |  | — |  | 263 |
Other Current Assets | 63 |  | 104 |  | 14 |  | 181 |
Total Current Assets | 2,050 |  | 6,714 |  | (6,199 | ) | 2,565 |
Properties | 1 |  | 41,897 |  | 2,907 |  | 44,805 |
Accumulated Depreciation | (1 | ) | (11,194 | ) | (1,612 | ) | (12,807 | )
Properties - Net | — |  | 30,703 |  | 1,295 |  | 31,998 |
Investments in Conrail | — |  | — |  | 943 |  | 943 |
Affiliates and Other Companies | (39 | ) | 859 |  | 16 |  | 836 |
Investment in Consolidated Subsidiaries | 32,033 |  | — |  | (32,033 | ) | — |
Other Long-term Assets | 2 |  | 598 |  | (213 | ) | 387 |
Total Assets | $ | 34,046 |  | $ | 38,874 |  | $ | (36,191 | ) | $ | 36,729 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Current Liabilities |  |  |  |
Accounts Payable | $ | 132 |  | $ | 763 |  | $ | 54 |  | $ | 949 |
Labor and Fringe Benefits Payable | 41 |  | 440 |  | 69 |  | 550 |
Payable to Affiliates | 6,973 |  | 633 |  | (7,606 | ) | — |
Casualty, Environmental and Other Reserves | — |  | 99 |  | 14 |  | 113 |
Current Maturities of Long-term Debt | — |  | 18 |  | — |  | 18 |
Income and Other Taxes Payable | (290 | ) | 392 |  | 4 |  | 106 |
Other Current Liabilities | 11 |  | 162 |  | 6 |  | 179 |
Total Current Liabilities | 6,867 |  | 2,507 |  | (7,459 | ) | 1,915 |
Casualty, Environmental and Other Reserves | — |  | 176 |  | 35 |  | 211 |
Long-term Debt | 14,029 |  | 710 |  | — |  | 14,739 |
Deferred Income Taxes - Net | (134 | ) | 6,601 |  | 223 |  | 6,690 |
Other Long-term Liabilities | 721 |  | 211 |  | (338 | ) | 594 |
Total Liabilities | $ | 21,483 |  | $ | 10,205 |  | $ | (7,539 | ) | $ | 24,149 |
Shareholders' Equity |  |  |  |
Common Stock, $1 Par Value | $ | 818 |  | $ | 181 |  | $ | (181 | ) | $ | 818 |
Other Capital | 249 |  | 5,096 |  | (5,096 | ) | 249 |
Retained Earnings | 12,157 |  | 23,322 |  | (23,322 | ) | 12,157 |
Accumulated Other Comprehensive Loss | (661 | ) | 53 |  | (53 | ) | (661 | )
Noncontrolling Minority Interest | — |  | 17 |  | — |  | 17 |
Total Shareholders' Equity | $ | 12,563 |  | $ | 28,669 |  | $ | (28,652 | ) | $ | 12,580 |
Total Liabilities and Shareholders' Equity | $ | 34,046 |  | $ | 38,874 |  | $ | (36,191 | ) | $ | 36,729 |
Consolidating Cash Flow Statements |
Consolidating Cash Flow Statements
(Dollars in millions)
Six Months 2019 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 1,636 |  | $ | 1,064 |  | $ | (433 | ) | $ | 2,267 |
Investing Activities |  |  |  |
Property Additions | — |  | (707 | ) | (62 | ) | (769 | )
Proceeds from Property Dispositions | — |  | 146 |  | — |  | 146 |
Purchases of Short-term Investments | (1,427 | ) | — |  | — |  | (1,427 | )
Proceeds from Sales of Short-term Investments | 810 |  | — |  | — |  | 810 |
Other Investing Activities | (5 | ) | (6 | ) | (5 | ) | (16 | )
Net Cash Provided by (Used in) Investing Activities | (622 | ) | (567 | ) | (67 | ) | (1,256 | )
Financing Activities |  |  |  |
Long-term Debt Issued | 1,000 |  | — |  | — |  | 1,000 |
Dividends Paid | (388 | ) | (500 | ) | 500 |  | (388 | )
Shares Repurchased | (1,656 | ) | — |  | — |  | (1,656 | )
Other Financing Activities | 32 |  | (3 | ) | (1 | ) | 28 |
Net Cash Provided by (Used in) Financing Activities | (1,012 | ) | (503 | ) | 499 |  | (1,016 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 2 |  | (6 | ) | (1 | ) | (5 | )
Cash and Cash Equivalents at Beginning of Period | 716 |  | 130 |  | 12 |  | 858 |
Cash and Cash Equivalents at End of Period | $ | 718 |  | $ | 124 |  | $ | 11 |  | $ | 853 |
NOTE 13. Summarized Consolidating Financial Data, continued
Consolidating Cash Flow Statements
(Dollars in millions)
Six Months 2018 | CSX Corporation | CSX Transportation | Eliminations and Other | Consolidated
Operating Activities |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 1,311 |  | $ | 1,245 |  | $ | (547 | ) | $ | 2,009 |
Investing Activities |  |  |  |
Property Additions | — |  | (762 | ) | (61 | ) | (823 | )
Proceeds from Property Dispositions | — |  | 141 |  | — |  | 141 |
Purchases of Short-term Investments | (75 | ) | — |  | (2 | ) | (77 | )
Proceeds from Sales of Short-term Investments | — |  | — |  | 12 |  | 12 |
Other Investing Activities | (1 | ) | (99 | ) | 92 |  | (8 | )
Net Cash (Used in) Provided by Investing Activities | (76 | ) | (720 | ) | 41 |  | (755 | )
Financing Activities |  |  |  |
Long-term Debt Issued | 2,000 |  | — |  | — |  | 2,000 |
Dividends Paid | (384 | ) | (500 | ) | 500 |  | (384 | )
Shares Repurchased | (1,810 | ) | — |  | — |  | (1,810 | )
Accelerated Share Repurchase Pending Final Settlement | (90 | ) | — |  | — |  | (90 | )
Other Financing Activities | (53 | ) | (3 | ) | 5 |  | (51 | )
Net Cash Provided by (Used in) Financing Activities | (337 | ) | (503 | ) | 505 |  | (335 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 898 |  | 22 |  | (1 | ) | 919 |
Cash and Cash Equivalents at Beginning of Period | 274 |  | 121 |  | 6 |  | 401 |
Cash and Cash Equivalents at End of Period | $ | 1,172 |  | $ | 143 |  | $ | 5 |  | $ | 1,320 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration