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Stock Plans and Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
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.
| Third Quarters |  | Nine Months
(Dollars in millions) | 2022 | 2021 |  | 2022 | 2021
Share-Based Compensation Expense: |  |  |  |  |
Performance Units | $ | 1 |  | $ | 6 |  |  | $ | 27 |  | $ | 44 |
Stock Options | 3 |  | 3 |  |  | 13 |  | 13 |
Restricted Stock Units and Awards | 2 |  | 3 |  |  | 11 |  | 10 |
Employee Stock Purchase Plan | 2 |  | 1 |  |  | 4 |  | 3 |
Stock Awards for Directors | — |  | — |  |  | 2 |  | 2 |
Total Share-Based Compensation Expense | $ | 8 |  | $ | 13 |  |  | $ | 57 |  | $ | 72 |
Income Tax Benefit | $ | 3 |  | $ | 4 |  |  | $ | 15 |  | $ | 19 |
Schedule of Weighted Average Assumptions Used for Performance Units | The fair values of the performance units awarded during the third quarters and nine months 2022 and 2021 were primarily calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
| Third Quarters |  | Nine Months
| 2022 | 2021 |  | 2022 | 2021
Weighted-Average Assumptions Used: |  |  |  |  |
Risk-free Interest Rate | 4.3 | % | N/A |  | 2.3 | % | 0.2 | %
Annualized Volatility | 33.2 | % | N/A |  | 33.0 | % | 33.6 | %
Expected Life (in years) | 2.3 | N/A |  | 2.7 | 2.9
Schedule of Fair Value Assumptions Used for Stock Options | The fair values of all stock option awards during the quarters and nine months ended September 30, 2022 and September 30, 2021 were estimated at the grant date with the following weighted average assumptions:
| Third Quarters |  | Nine Months
| 2022 | 2021 |  | 2022 | 2021
Weighted-Average Grant Date Fair Value | $ | 9.96 | $ | 8.86 |  | $ | 10.12 | $ | 7.94
Weighted-Average Assumptions Used: |  |  |  |  |
Annual Dividend Yield | 1.3 | % | 1.2 | % |  | 1.1 | % | 1.2 | %
Risk-Free Interest Rate | 3.3 | % | 1.0 | % |  | 2.0 | % | 0.7 | %
Annualized Volatility | 30.2 | % | 30.7 | % |  | 30.1 | % | 31.2 | %
Expected Life (in years) | 6.3 | 6.3 |  | 6.0 | 6.0
Other Pricing Model Inputs: |  |  |  |  |
Weighted-Average Grant Date Market Price of CSX Stock (strike price) | $ | 31.61 | $ | 32.18 |  | $ | 35.12 | $ | 29.65
Schedule of Shares Issued Under Employee Stock Purchase Plan | During the third quarter and nine months ended September 30, 2022 and September 30, 2021, the Company issued the following shares:
| Third Quarters |  | Nine Months
| 2022 | 2021 |  | 2022 | 2021
Shares Issued (in thousands) | 400 |  | 334 |  |  | 726 |  | 730 |
Weighted Average Purchase Price per Share | $ | 24.70 |  | $ | 24.93 |  |  | $ | 25.93 |  | $ | 21.90 |

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- Definition Schedule of Share-based Payment Award, Awards Other than Options, Valuation Assumptions [Table Text Block] + References No definition available. + Details
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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