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Segment Reporting and Significant Expenses | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting and Significant Expenses | Segment Reporting and Significant Expenses The Company has two operating segments: rail and trucking. Although the Company provides a breakdown of revenue by line of business, the overall financial and operational performance of the railroad is analyzed as one operating segment due to the integrated nature of the rail network. The Rail column in the table below includes the activities of all CSX entities other than the trucking company, Quality Carriers, and also includes the Company's equity in the net income of equity method investments. As the trucking segment is not material for separate disclosure as a reportable segment, the results of these operations are included as a reconciliation to the Company's consolidated results in the tables below. The Company's chief operating decision maker ("CODM") is its CEO. The CODM reviews information presented on a consolidated basis, accompanied by supplemental information about the trucking segment separately, for purposes of allocating resources and evaluating financial performance. The Company has determined that operating income is the key measure of segment profit or loss as this measure is the focus of the CODM in developing financial plans, including resource allocation, and evaluating actual financial performance against plan. The CODM regularly reviews operating results broken out by significant expense. NOTE 11. Segment Reporting and Significant Expenses, continued The tables below present information about the Company's significant expenses and the required reportable segment reconciliations for the quarters ended September 30, 2025, and September 30, 2024.
|  | Third Quarters |  |
|  | 2025 | 2024 |  |  |
(Dollars in Millions) |  | Rail | Reconciliation to Consolidated | Rail | Reconciliation to Consolidated |  |  |  |  |
Revenue (a) |  | $ | 3,380 |  |  | $ | 3,405 |  |  |  |  |  |  |
Reconciliation of Revenue |  |  |  |  |  |  |  |  |  |
Trucking Revenue (a) |  |  | 215 |  | 216 |  |  |  |  |
Elimination of intersegment revenues |  |  | (8) |  | (2) |  |  |  |  |
Total Consolidated Revenue |  |  | $ | 3,587 |  |  | $ | 3,619 |  |  |  |  |  |
Expense (b) |  |  |  |  |  |  |  |  |  |
Labor and Fringe |  | $ | 758 |  |  | $ | 756 |  |  |  |  |  |  |
Purchased Services and Other |  | 624 |  | 556 |  |  |  |  |  |
Depreciation and Amortization |  | 408 |  | 401 |  |  |  |  |  |
Fuel |  |  |  |  |  |  |  |  |  |
Locomotive |  | 237 |  | 229 |  |  |  |  |  |
Non-Locomotive |  | 23 |  | 26 |  |  |  |  |  |
Equipment and Other Rents |  | 80 |  | 86 |  |  |  |  |  |
Gain on Property Disposition |  | (6) |  | 0 |  |  |  |  |  |
Segment Operating Income |  | $ | 1,256 |  |  | $ | 1,351 |  |  |  |  |  |  |
Reconciliation of Operating Income |  |  |  |  |  |  |  |  |  |
Trucking Expenses (b) |  |  | 384 |  | 213 |  |  |  |  |
Elimination of intersegment expenses |  |  | (8) |  | (2) |  |  |  |  |
Total Consolidated Operating Income |  |  | $ | 1,087 |  |  | $ | 1,354 |  |  |  |  |  |
NOTE 11. Segment Reporting and Significant Expenses, continued The tables below present information about the Company's significant expenses and the required reportable segment reconciliations for the nine months ended September 30, 2025, and September 30, 2024.
|  |  |  | Nine Months
|  |  |  |  | 2025 | 2024
(Dollars in Millions) |  |  |  |  |  |  | Rail | Reconciliation to Consolidated | Rail | Reconciliation to Consolidated
Revenue (a) |  |  |  |  |  |  | $ | 9,964 |  |  | $ | 10,351 |  |
Reconciliation of Revenue |  |  |  |  |  |  |  |  |  |
Trucking Revenue (a) |  |  |  |  |  |  |  | 641 |  | 655
Elimination of intersegment revenues |  |  |  |  |  |  |  | (21) |  | (5)
Total Consolidated Revenue |  |  |  |  |  |  |  | $ | 10,584 |  |  | $ | 11,001 |
Expense (b) |  |  |  |  |  |  |  |  |  |
Labor and Fringe |  |  |  |  |  |  | $ | 2,268 |  |  | $ | 2,235 |  |
Purchased Services and Other |  |  |  |  |  |  | 1,893 |  | 1,735 |
Depreciation and Amortization |  |  |  |  |  |  | 1,228 |  | 1,191 |
Fuel |  |  |  |  |  |  |  |  |  |
Locomotive |  |  |  |  |  |  | 688 |  | 754 |
Non-Locomotive |  |  |  |  |  |  | 75 |  | 78 |
Equipment and Other Rents |  |  |  |  |  |  | 252 |  | 245 |
Gain on Property Disposition |  |  |  |  |  |  | (11) |  | (10) |
Segment Operating Income |  |  |  |  |  |  | $ | 3,571 |  |  | $ | 4,123 |  |
Reconciliation of Operating Income |  |  |  |  |  |  |  |  |  |
Trucking Expenses (b) |  |  |  |  |  |  |  | 801 |  | 639
Elimination of intersegment expenses |  |  |  |  |  |  |  | (21) |  | (5)
Total Consolidated Operating Income |  |  |  |  |  |  |  | $ | 3,411 |  |  | $ | 4,139 |
(a) Trucking revenue is comprised of revenue from Quality Carriers. Rail revenue represents revenue attributed to all CSX entities other than the trucking company, Quality Carriers. (b) Trucking expenses include labor and fringe, purchased services and other, depreciation and amortization, fuel, equipment and other rents, and gains/losses on property dispositions from the operations of Quality Carriers. Rail expenses represent expenses attributable to all CSX entities other than the trucking company, Quality Carriers. Trucking expenses for the three and nine months ended September 30, 2025, include a $164 million impairment charge of Quality Carrier's goodwill. See additional information in Note 12, Goodwill and Other Intangible Assets. NOTE 11. Segment Reporting and Significant Expenses, continued Reconciliation of Segment Operating Income to Consolidated Earnings Before Income Taxes
|  | Third Quarters |  | Nine Months
(Dollars in Millions) |  | 2025 | 2024 |  | 2025 | 2024
Segment Operating Income |  | $ | 1,256 |  | $ | 1,351 |  |  | $ | 3,571 |  | $ | 4,123 |
Trucking Revenue and Eliminations |  | 207 |  | 214 |  |  | 620 | 650
Trucking Expenses and Eliminations |  | (376) | (211) |  | (780) | (634)
Total Consolidated Operating Income |  | 1,087 |  | 1,354 |  |  | 3,411 |  | 4,139 |
Interest Expense |  | (210) |  | (206) |  |  | (631) |  | (625) |
Other Income - Net |  | 21 |  | 36 |  |  | 69 |  | 105 |
Earnings Before Income Taxes |  | $ | 898 |  | $ | 1,184 |  |  | $ | 2,849 |  | $ | 3,619 |
Other Segment Disclosures Capital expenditures made by the rail segment were $717 million and $610 million, for the third quarters 2025 and 2024, respectively, and $2,173 million and $1,631 million, for the nine months ended September 30, 2025, and September 30, 2024, respectively. Capital expenditures in the three and nine months ended September 30, 2025, include $145 million and $440 million, respectively, related to rebuilding the Blue Ridge subdivision as a result of impacts from Hurricane Helene. The total of the rail segment's reportable assets was $43.1 billion and $42.6 billion as of September 30, 2025, and December 31, 2024, respectively, out of total consolidated assets of $43.3 billion and $42.8 billion for the respective periods. Non-rail assets include assets held by the trucking operating segment.

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- Definition The entire disclosure for reporting segments including data and tables. 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