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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2022
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.
| As of
Pension Plan Participants: | January 1, 2022
Active Employees | 2,767 |
Retirees and Beneficiaries | 11,460 |
Other(a) | 3,586 |
Total | 17,813 |
(a) The Other category consists mostly of terminated but vested former employees.
Schedule of Future Expected Benefit Payments | Future expected benefit payments are as follows:
Expected Cash Flows (Dollars in Millions): | Pension Benefits
2023 | $ | 193 |
2024 | 188 |
2025 | 185 |
2026 | 183 |
2027 | 181 |
2028-2032 | 879 |
Total | $ | 1,809 |
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 2022 |  | December 2021
|  |  | Percent of |  |  |  | Percent of
(Dollars in Millions) | Amount |  | Total Assets |  | Amount |  | Total Assets
Equity | $ | 1,249 |  |  | 54 | % |  | $ | 1,559 |  |  | 52 | %
Fixed Income | 144 |  |  | 6 |  |  | 204 |  |  | 7 |
Cash and Cash Equivalents | 41 |  |  | 2 |  |  | 49 |  |  | 1 |
Growth-Oriented | $ | 1,434 |  |  | 62 | % |  | $ | 1,812 |  |  | 60 | %
Fixed Income | 777 |  |  | 33 |  |  | 1,145 |  |  | 38 |
Cash and Cash Equivalents | 116 |  |  | 5 |  |  | 59 |  |  | 2 |
Immunizing | $ | 893 |  |  | 38 | % |  | $ | 1,204 |  |  | 40 | %
Total | $ | 2,327 |  |  | 100 | % |  | $ | 3,016 |  |  | 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 2022 and 2021 plan years are as follows:
| Pension Benefits
| Plan Year |  | Plan Year
(Dollars in Millions) | 2022 |  | 2021
Actuarial Present Value of Benefit Obligation |  |  |
Accumulated Benefit Obligation | $ | 2,285 |  |  | $ | 2,909 |
Projected Benefit Obligation | 2,368 |  |  | 3,022 |
Change in Projected Benefit Obligation: |  |  |
Projected Benefit Obligation at Beginning of Plan Year | $ | 3,022 |  |  | $ | 3,257 |
Service Cost (a) | 36 |  |  | 45 |
Interest Cost | 64 |  |  | 55 |
Actuarial Gain | (570) |  |  | (142) |
Benefits Paid | (184) |  |  | (193) |
Benefit Obligation at End of Plan Year | $ | 2,368 |  |  | $ | 3,022 |
Change in Plan Assets: |  |  |
Fair Value of Plan Assets at Beginning of Plan Year | $ | 3,016 |  |  | $ | 3,000 |
Actual (Loss) Return on Plan Assets | (523) |  |  | 187 |
Non-qualified Employer Contributions | 18 |  |  | 22 |
Benefits Paid | (184) |  |  | (193) |
Fair Value of Plan Assets at End of Plan Year | $ | 2,327 |  |  | $ | 3,016 |
Funded Status at End of Plan Year | $ | (41) |  |  | $ | (6) |
(a)Service cost for 2022 and 2021 includes capitalized service costs of $4 million each year.
Schedule of Amount Recognized in Balance Sheet | Amounts related to pension 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
| December |  | December
(Dollars in Millions) | 2022 |  | 2021
Amounts Recorded in Consolidated |  |  |
Balance Sheets: |  |  |
Long-term Assets | $ | 164 |  |  | $ | 255 |
Current Liabilities | (17) |  |  | (17) |
Long-term Liabilities | (188) |  |  | (244) |
Net Amount Recognized in Consolidated Balance Sheets | $ | (41) |  |  | $ | (6) |
Schedule of Benefit Obligations in Excess of Plan Assets | Long-term assets as of December 2022 and 2021 in the preceding table relate to qualified pension plans where assets exceed projected benefit obligations. Current and long-term liabilities relate to plans where projected benefits obligations exceed assets. The following table shows the value of plan assets for only those plans with a net liability status.
| Aggregate |
(Dollars in Millions) | Fair Value | Aggregate
Benefit Obligations in Excess of Plan Assets | of Plan Assets | Benefit Obligation
Projected Benefit Obligation | $ | — |  | $ | (205) |
Accumulated Benefit Obligation | — |  | (195) |
Schedule of Net Benefit Expense Recorded on the Income Statement | The following table describes the components of expense/(income) related to net benefit expense recorded on the income statement.
| Pension Benefits Years Ended
(Dollars in Millions) | 2022 |  | 2021 |  | 2020
Service Cost Included in Labor and Fringe | $ | 32 |  |  | $ | 41 |  |  | $ | 43 |
Interest Cost | 64 |  |  | 55 |  |  | 82 |
Expected Return on Plan Assets | (188) |  |  | (186) |  |  | (176) |
Amortization of Net Loss | 50 |  |  | 73 |  |  | 54 |
Total Income Included in Other Income - Net | $ | (74) |  |  | $ | (58) |  |  | $ | (40) |
Net Periodic Benefit (Credit)/Cost | $ | (42) |  |  | $ | (17) |  |  | $ | 3 |
Settlement Loss (Gain) | 1 |  |  | — |  |  | (1) |
Total Periodic Benefit (Credit)/Cost | $ | (41) |  |  | $ | (17) |  |  | $ | 2 |
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 benefits.
(Dollars in Millions) | Pension Benefits
Components of Other Comprehensive | Years Ended
Loss (Income) | 2022 |  | 2021
Recognized in the Balance Sheet |  |  |
Losses (Gains) | $ | 141 |  |  | $ | (143) |
Expense Recognized in the Income Statement |  |  |
Amortization of Net Losses | $ | 50 |  |  | $ | 73 |
Settlement Loss | 1 |  |  | — |
Schedule of Weighted-Average Assumptions Used | The weighted averages of assumptions used by the Company to value its pension obligations were as follows:
| Pension Benefits
| 2022 |  | 2021
Expected Long-term Return on Plan Assets: |  |  |
Benefit Cost for Current Plan Year | 6.75 | % |  | 6.75 | %
Benefit Cost for Subsequent Plan Year | 6.75 | % |  | 6.75 | %
Discount Rates: |  |  |
Benefit Cost for Plan Year |  |  |
Service Cost for Plan Year | 2.98 | % |  | 2.69 | %
Interest Cost for Plan Year | 2.18 | % |  | 1.70 | %
Benefit Obligation at End of Plan Year | 5.02 | % |  | 2.78 | %
Salary Scale Inflation | 4.80 | % |  | 4.60 | %
Cash Balance Plan Interest Credit Rate | 3.75 | % |  | 3.75 | %

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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 https://asc.fasb.org/extlink&oid=123447040&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 https://asc.fasb.org/extlink&oid=123447040&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 https://asc.fasb.org/extlink&oid=123447040&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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&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 https://asc.fasb.org/extlink&oid=123447040&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 https://asc.fasb.org/extlink&oid=123450688&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 https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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