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Stock Plans and Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation and Related Income Tax Benefit | Total pre-tax expense and income tax benefits associated with share-based compensation are shown in the table below. Income tax benefits include impacts from option exercises and the vesting of other equity awards. Modifications to the terms of awards (see Equity Award Modifications below) impacted share-based compensation expense in 2017.
| Fiscal Years
(Dollars in Millions) | 2019 | 2018 | 2017
Share-Based Compensation Expense |  |  |
Performance Units | $ | 42 |  | $ | 28 |  | $ | 49 |
Stock Options | 18 |  | 13 |  | 22 |
Restricted Stock Units and Awards | 8 |  | 6 |  | 15 |
Stock Awards for Directors | 2 |  | 2 |  | 3 |
Employee Stock Purchase Plan | 4 |  | 2 |  | — |
Total Share-based Compensation Expense | $ | 74 |  | $ | 51 |  | $ | 89 |
Income Tax Benefit | $ | 43 |  | $ | 26 |  | $ | 42 |
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Performance Units | The fair value of the performance units awarded during the years ended December 2019 and 2018 were calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
Weighted-average assumptions used: | 2019 | 2018
Annual dividend yield | 1.4 | % | 1.6 | %
Risk-free interest rate | 2.4 | % | 2.3 | %
Annualized volatility | 27.4 | % | 29.1 | %
Expected life (in years) | 2.8 |  | 2.9 |
Schedule of Performance Unit Grant and Vesting Information | Performance unit grant and vesting information is summarized as follows:
| Fiscal Years
| 2019 |  | 2018 |  | 2017
Weighted-average grant date fair value | $ | 66.18 |  |  | $ | 55.57 |  |  | $ | 49.50 |
Fair value of units vested in fiscal year ending (in millions) | $ | 17 |  |  | $ | 14 |  |  | $ | 26 |
Schedule of Performance Unit Activity Related to Outstanding Long-term Incentive Plans and Corresponding Fair Value | The performance unit activity related to the outstanding long-term incentive plans and corresponding fair value is summarized as follows:
| Performance Units Outstanding (in Thousands) |  | Weighted-Average Fair Value at Grant Date
Unvested at December 31, 2018 | 722 |  |  | $ | 52.58 |
Granted | 337 |  |  | 66.18 |
Forfeited | (75 | ) |  | 57.20 |
Vested | (341 | ) |  | 49.52 |
Unvested at December 31, 2019 | 643 |  |  | $ | 60.58 |
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Stock Options | Assumptions and inputs used to estimate fair value of stock options are summarized as follows:
| Fiscal Years
| 2019 | 2018 | 2017
Weighted-average grant date fair value | $ | 17.87 |  | $ | 14.65 |  | $ | 12.84 |
Stock options valuation assumptions: |  |  |
Annual dividend yield | 1.3 | % | 1.5 | % | 1.5 | %
Risk-free interest rate | 2.4 | % | 2.6 | % | 2.2 | %
Annualized volatility | 25.7 | % | 27.0 | % | 27.1 | %
Expected life (in years) | 6.1 |  | 6.5 |  | 6.3 |
Other pricing model inputs: |  |  |
Weighted-average grant-date market price of CSX stock (strike price) | $ | 70.01 |  | $ | 54.19 |  | $ | 49.63 |
Schedule of Stock Option Activity | The stock option activity is summarized as follows:
| Stock Options Outstanding (in Thousands) | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life (in Years) | Aggregate Intrinsic Value (in Millions)
Outstanding at December 31, 2018 | 4,673 |  | $ | 34.89 |  |  |
Granted | 1,187 |  | 70.01 |  |  |
Forfeited | (212 | ) | 55.35 |  |  |
Exercised | (1,853 | ) | 24.48 |  |  |
Outstanding at December 31, 2019 | 3,795 |  | $ | 49.78 |  | 7.5 | $ | 87 |
Exercisable at December 31, 2019 | 1,026 |  | $ | 24.60 |  | 6.0 | $ | 49 |
Schedule of Intrinsic Value and Cash Proceeds of Options Exercises | There were no significant exercises during 2017 or 2018. Additional information on stock option exercises in 2019 is summarized as follows:
(Dollars in Millions) | 2019
Intrinsic value of stock options exercised | $ | 87 |
Cash received from option exercises | $ | 45 |
Schedule of Restricted Stock Grant and Vesting Information | Restricted stock grant and vesting information is summarized as follows:
| Fiscal Years
| 2019 |  | 2018 |  | 2017
Weighted-average grant date fair value | $ | 69.19 |  |  | $ | 62.60 |  |  | $ | 48.35 |
Fair value of units and awards vested during fiscal year ended (in millions) | $ | 7 |  |  | $ | 9 |  |  | $ | 8 |
Schedule of Outstanding Restricted Stock Units and Awards | The restricted stock activity related to the outstanding long-term incentive plans and other awards and corresponding fair value is summarized as follows:
| Restricted Stock Units and Awards Outstanding (in Thousands) |  | Weighted-Average Fair Value at Grant Date
Unvested at December 31, 2018 | 684 |  |  | $ | 39.30 |
Granted | 88 |  |  | 69.19 |
Forfeited | (30 | ) |  | 53.28 |
Vested | (315 | ) |  | 24.21 |
Unvested at December 31, 2019 | 427 |  |  | $ | 57.29 |

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