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Stock Plans and Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Pre-tax Expense and Income Tax Benefits Associated with Share-Based Compensation | 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.
| Second Quarters |  | Six Months
(Dollars in millions) | 2021 | 2020 |  | 2021 | 2020
Share-Based Compensation Expense: |  |  |  |  |
Performance Units | $ | 20 |  | $ | (17) |  |  | 38 |  | $ | (8) |
Stock Options | 4 |  | 3 |  |  | 10 |  | 13 |
Restricted Stock Units and Awards | 2 |  | 1 |  |  | 7 |  | 3 |
Stock Awards for Directors | — |  | 1 |  |  | 2 |  | 2 |
Employee Stock Purchase Plan | 1 |  | — |  |  | 2 |  | 2 |
Total Share-Based Compensation Expense | $ | 27 |  | $ | (12) |  |  | $ | 59 |  | $ | 12 |
Income Tax Benefit | $ | 6 |  | $ | 2 |  |  | $ | 15 |  | $ | 11 |
Schedule of Weighted Average Assumptions Used for Performance Units | The fair values of the performance units awarded during the six months ended 2021 and 2020 were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
| Second Quarters |  | Six Months
| 2021 | 2020 |  | 2021 | 2020
Weighted-Average Assumptions Used: |  |  |  |  |
Risk-free Interest Rate | 0.2 | % | N/A |  | 0.2 | % | 1.4 | %
Annualized Volatility | 34.3 | % | N/A |  | 33.6 | % | 24.5 | %
Expected Life (in years) | 2.6 | N/A |  | 2.9 | 2.9
Schedule of Fair Value Assumptions Used for Stock Options | The fair values of all stock option awards during the quarters and six months ended June 30, 2021 and June 30, 2020 were estimated at the grant date with the following weighted average assumptions:
| Second Quarters |  | Six Months
| 2021 | 2020 |  | 2021 | 2020
Weighted-Average Grant Date Fair Value | $ | 9.18 | $ | 5.92 |  | $ | 7.89 | $ | 6.29
Weighted-Average Assumptions Used: |  |  |  |  |
Annual Dividend Yield | 1.1 | % | 1.5 | % |  | 1.2 | % | 1.2 | %
Risk-Free Interest Rate | 1.0 | % | 0.5 | % |  | 0.7 | % | 1.4 | %
Annualized Volatility | 31.0 | % | 30.1 | % |  | 31.2 | % | 26.0 | %
Expected Life (in years) | 6.0 | 6.5 |  | 6.0 | 6.0
Other Pricing Model Inputs: |  |  |  |  |
Weighted-Average Grant Date Market Price of CSX Stock (strike price) | $ | 33.35 | $ | 23.62 |  | $ | 29.53 | $ | 26.49
Schedule of Shares Issued Under Employee Stock Purchase Plan | During the second quarter and six months ended June 30, 2021 and June 30, 2020, the Company issued the following shares under this program:
|  |  | Six Months
|  |  |  | 2021 | 2020
Shares issued (in thousands) |  |  |  | 396 |  | 366 |
Weighted average purchase price per share |  |  |  | $ | 19.33 |  | $ | 20.50 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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