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v3.19.3.a.u2

Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Summary of Participants | In order to perform this valuation, the actuaries are provided with the details of the population covered at the beginning of the year, summarized in the table below, and projects that population forward to the end of the year.
| Summary of Participants as of
| January 1, 2019
| Pension Plans |  | Post-retirement Medical Plan
Active Employees | 3,521 |  |  | 616 |
Retirees and Beneficiaries | 12,016 |  |  | 8,393 |
Other(a) | 4,012 |  |  | 40 |
Total | 19,549 |  |  | 9,049 |
(a) For pension plans, the other category consists mostly of terminated but vested former employees. For post-retirement plans, the other category consists of employees on long-term disability that have not yet retired.
Schedule of Future Expected Benefit Payments | Future expected benefit payments are as follows:
| Expected Cash Flows
(Dollars in Millions) | Pension Benefits |  | Post-retirement Benefits
2020 | $ | 193 |  |  | $ | 20 |
2021 | 188 |  |  | 12 |
2022 | 186 |  |  | 10 |
2023 | 184 |  |  | 9 |
2024 | 182 |  |  | 9 |
2025-2029 | 897 |  |  | 34 |
Total | $ | 1,830 |  |  | $ | 94 |
Schedule of Allocation of Plan Assets | The distribution of pension plan assets as of the measurement date is shown in the table below, and these assets are reported net of pension liabilities on the balance sheet.
| December 2019 |  | December 2018
|  |  | Percent of |  |  |  | Percent of
(Dollars in Millions) | Amount |  | Total Assets |  | Amount |  | Total Assets
Equity | $ | 1,770 |  |  | 63 | % |  | $ | 1,698 |  |  | 70 | %
Fixed Income | 818 |  |  | 29 |  |  | 704 |  |  | 29 |
Cash and Cash Equivalents | 237 |  |  | 8 |  |  | 29 |  |  | 1 |
Total | $ | 2,825 |  |  | 100 | % |  | $ | 2,431 |  |  | 100 | %
Schedule of Changes in Benefit Obligation and Fair Value of Plan Assets | Changes in benefit obligation and the fair value of plan assets for the 2019 and 2018 calendar plan years are as follows:
| Pension Benefits |  | Post-retirement Benefits
| Plan Year |  | Plan Year |  | Plan Year |  | Plan Year
(Dollars in Millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Actuarial Present Value of Benefit Obligation |  |  |  |  |  |  |
Accumulated Benefit Obligation | $ | 2,963 |  |  | $ | 2,623 |  |  | N/A |  |  | N/A |
Projected Benefit Obligation | 3,122 |  |  | 2,758 |  |  | $ | 117 |  |  | $ | 118 |
Change in Projected Benefit Obligation: |  |  |  |  |  |  |  |  |  |  |
Projected Benefit Obligation at Beginning of Plan Year | $ | 2,758 |  |  | $ | 3,002 |  |  | $ | 118 |  |  | $ | 250 |
Service Cost (a) | 34 |  |  | 36 |  |  | 1 |  |  | 2 |
Interest Cost | 103 |  |  | 92 |  |  | 2 |  |  | 7 |
Plan Participants' Contributions | — |  |  | — |  |  | 7 |  |  | 5 |
Post-retirement Plan Amendment | — |  |  | — |  |  | — |  |  | (102 | )
Actuarial Loss (Gain) | 418 |  |  | (173 | ) |  | 22 |  |  | (10 | )
Benefits Paid | (191 | ) |  | (199 | ) |  | (33 | ) |  | (34 | )
Benefit Obligation at End of Plan Year | $ | 3,122 |  |  | $ | 2,758 |  |  | $ | 117 |  |  | $ | 118 |
Change in Plan Assets: |  |  |  |  |  |  |  |  |  |  |
Fair Value of Plan Assets at Beginning of Plan Year | $ | 2,431 |  |  | $ | 2,833 |  |  | $ | — |  |  | $ | — |
Actual Return on Plan Assets Gain (Loss) | 568 |  |  | (220 | ) |  | — |  |  | — |
Non-qualified Employer Contributions | 17 |  |  | 17 |  |  | 26 |  |  | 30 |
Plan Participants' Contributions | — |  |  | — |  |  | 7 |  |  | 4 |
Benefits Paid | (191 | ) |  | (199 | ) |  | (33 | ) |  | (34 | )
Fair Value of Plan Assets at End of Plan Year | 2,825 |  |  | 2,431 |  |  | — |  |  | — |
Funded Status at End of Plan Year | $ | (297 | ) |  | $ | (327 | ) |  | $ | (117 | ) |  | $ | (118 | )
(a) Service cost for each 2019 and 2018 includes capitalized service costs of $3 million.
Schedule of Amount Recognized in Balance Sheet | Amounts related to pension and post-retirement benefits recorded in other long-term assets, labor and fringe benefits payable and other long-term liabilities on the balance sheet are as follows:
| Pension Benefits |  | Post-retirement Benefits
| December |  | December |  | December |  | December
(Dollars in Millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Amounts Recorded in Consolidated |  |  |  |  |  |  |
Balance Sheets: |  |  |  |  |  |  |
Long-term Assets (a) | $ | 25 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |
Current Liabilities | (17 | ) |  | (16 | ) |  | (20 | ) |  | (34 | )
Long-term Liabilities | (305 | ) |  | (324 | ) |  | (97 | ) |  | (84 | )
Net Amount Recognized in |  |  |  |  |  |  |  |  |  |  |
Consolidated Balance Sheets | $ | (297 | ) |  | $ | (327 | ) |  | $ | (117 | ) |  | $ | (118 | )
(a) | Long-term assets as of December 2019 and 2018 relate to qualified pension plans where assets exceed projected benefit obligations.
Schedule of Benefit Obligations in Excess of Plan Assets | At December 2019, the status of CSX plans with a net liability only is disclosed below. The total fair value of all plan assets as of December 2019 was $2.8 billion, which includes the qualified pension plans with net assets.
| Aggregate |
(Dollars in Millions) | Fair Value | Aggregate
Benefit Obligations in Excess of Plan Assets | of Plan Assets | Benefit Obligation
Projected Benefit Obligation | $ | 2,715 |  | $ | (3,037 | )
Accumulated Benefit Obligation | 2,715 |  | (2,878 | )
Schedule of Net Benefit Expense | The following table describes the components of expense/(income) related to net benefit expense recorded on the income statement.
| Pension Benefits Fiscal Years |  | Post-retirement Benefits Fiscal Years
(Dollars in Millions) | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017
Service Cost Included in Labor and Fringe | $ | 31 |  |  | $ | 32 |  |  | $ | 36 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |
Interest Cost | 103 |  |  | 92 |  |  | 92 |  |  | 2 |  |  | 7 |  |  | 7 |
Expected Return on Plan Assets | (171 | ) |  | (176 | ) |  | (171 | ) |  | — |  |  | — |  |  | — |
Amortization of Net Loss | 30 |  |  | 41 |  |  | 41 |  |  | — |  |  | — |  |  | — |
Amortization of Prior Service Cost | — |  |  | — |  |  | — |  |  | (7 | ) |  | (2 | ) |  | — |
Total Income Included in Other Income - Net | (38 | ) |  | (43 | ) |  | (38 | ) |  | (5 | ) |  | 5 |  |  | 7 |
Net Periodic Benefit (Credit) Expense | $ | (7 | ) |  | $ | (11 | ) |  | $ | (2 | ) |  | $ | (4 | ) |  | $ | 7 |  |  | $ | 9 |
Restructuring Charge - Non Operating(a) | — |  |  | — |  |  | 60 |  |  | — |  |  | — |  |  | 13 |
Settlement (Gain) Loss | — |  |  | (1 | ) |  | 11 |  |  | — |  |  | — |  |  | — |
Total (Credit) Expense | $ | (7 | ) |  | $ | (12 | ) |  | $ | 69 |  |  | $ | (4 | ) |  | $ | 7 |  |  | $ | 22 |
(a) Charges related to special termination benefits and curtailment costs were the result of the management workforce reductions in first quarter 2017. See Restructuring Charge in Note 1, Nature of Operations and Significant Accounting Policies.
Schedule of Pre-tax Change in Other Comprehensive Loss (Income) | The following table shows the pre-tax change in other comprehensive loss (income) attributable to certain components of net benefit expense and the change in benefit obligation for CSX for pension and other post-employment benefits.
(Dollars in Millions) | Pension Benefits |  | Post-retirement Benefits
Components of Other Comprehensive | December |  | December |  | December |  | December
Loss (Income) | 2019 |  | 2018 |  | 2019 |  | 2018
Recognized in the Balance Sheet |  |  |  |  |  |  |
Losses (Gains) | $ | 21 |  |  | $ | 223 |  |  | $ | 22 |  |  | $ | (112 | )
Expense (Income) Recognized in the Income Statement |  |  |  |  |  |  |  |  |  |  |
Amortization of Net Losses (a) | $ | 30 |  |  | $ | 41 |  |  | $ | — |  |  | $ | — |
Settlement (Gain) Loss | — |  |  | (1 | ) |  | — |  |  | — |
Amortization of Prior Service Costs | — |  |  | — |  |  | (7 | ) |  | (2 | )
(a) Amortization of net losses estimated to be expensed for 2020 is approximately $57 million for pension benefits.
Schedule of Weighted-Average Assumptions Used | The weighted averages of assumptions used by the Company to value its pension and post-retirement obligations were as follows:
| Pension Benefits |  | Post-retirement Benefits |
| 2019 |  | 2018 |  | 2019 |  | 2018 |
Expected Long-term Return on Plan Assets: |  |  |  |  |  |  |  |
Benefit Cost for Current Plan Year | 6.75 | % |  | 6.75 | % |  | N/A |  |  | N/A |  |
Benefit Cost for Subsequent Plan Year | 6.75 | % |  | 6.75 | % |  | N/A |  |  | N/A |  |
Discount Rates: |  |  |  |  |  |  |  |
Benefit Cost for Plan Year |  |  |  |  |  |  |  |
Service Cost for Plan Year | 4.40 | % |  | 3.74 | % |  | 4.14 | % |  | 4.14 | % | (a)
Interest Cost for Plan Year | 3.87 | % |  | 3.15 | % |  | 3.51 | % |  | 3.45 | % | (a)
Benefit Obligation at End of Plan Year | 3.13 | % |  | 4.24 | % |  | 2.87 | % |  | 3.98 | % |
Salary Scale Inflation | 4.60 | % |  | 4.60 | % |  | N/A |  |  | N/A |  |
(a) | The post-retirement benefits service cost and interest cost for 2018 were based on a weighted average discount rate of 3.68% and 2.79%, respectively, prior to the post-retirement plan amendments approved in 2018 and were increased to 4.14% and 3.45%, respectively, after the Company remeasured the other post-retirement benefits obligation in the fourth quarter of 2018.

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- Definition This element may be used to capture the net increase or decrease in the plan benefit obligation during the reporting period by detailing the changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, as well as the actuarial present value of the benefit obligation. + References No definition available. + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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