$CSX

CSX CORP

CIK:0000277948|SEC Filings

CONSOLIDATED INCOME STATEMENTS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement
Revenue	$ 3,935	$ 3,574	$ 7,417	$ 6,997
Expense
Labor and Fringe	831	791	1,643	1,612
Purchased Services and Other	644	710	1,260	1,484
Depreciation and Amortization	411	427	826	852
Fuel	446	269	748	544
Equipment and Other Rents	97	94	181	181
Total Expense	2,429	2,291	4,658	4,673
Operating Income	1,506	1,283	2,759	2,324
Interest Expense	(211)	(212)	(424)	(421)
Other Income - Net	25	22	48	48
Earnings Before Income Taxes	1,320	1,093	2,383	1,951
Income Tax Expense	(318)	(264)	(574)	(476)
Net Earnings	$ 1,002	$ 829	$ 1,809	$ 1,475
Per Common Share (Note 2)
Net Earnings Per Share, Basic (in dollars per share)	$ 0.54	$ 0.44	$ 0.97	$ 0.79
Net Earnings Per Share, Assuming Dilution (in dollars per share)	$ 0.54	$ 0.44	$ 0.97	$ 0.78
Average Shares Outstanding (in shares)	1,855	1,867	1,858	1,878
Average Shares Outstanding, Assuming Dilution (in shares)	1,859	1,869	1,860	1,881

CONSOLIDATED CASH FLOW STATEMENTS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Earnings	$ 1,809	$ 1,475
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization	826	852
Deferred Income Taxes	84	(1)
Other Operating Activities	(71)	(50)
Changes in Operating Assets and Liabilities:
Accounts Receivable	(190)	(36)
Other Current Assets	15	(13)
Accounts Payable	54	14
Income and Other Taxes Payable	70	(362)
Other Current Liabilities	2	11
Net Cash Provided by Operating Activities	2,599	1,890
INVESTING ACTIVITIES
Property Additions	(1,119)	(1,495)
Purchases of Short-Term Investments	(515)	0
Proceeds from Sales of Short-term Investments	146	69
Proceeds and Advances from Property Dispositions	137	49
Business Acquisition, Net of Cash Acquired	0	(14)
Other Investing Activities	30	(63)
Net Cash Used In Investing Activities	(1,321)	(1,454)
FINANCING ACTIVITIES
Shares Repurchased	(518)	(1,172)
Dividends Paid	(520)	(488)
Long-term Debt Repaid (Note 7)	(9)	(3)
Long-term Debt Issued (Note 7)	0	600
Other Financing Activities	106	81
Net Cash Used in Financing Activities	(941)	(982)
Net Increase (Decrease) in Cash and Cash Equivalents	337	(546)
CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents at Beginning of Period	670	933
Cash and Cash Equivalents at End of Period	$ 1,007	$ 387

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and Cash Equivalents	$ 1,007	$ 670
Short-term Investments (Note 9)	383	5
Accounts Receivable - Net (Note 8)	1,456	1,298
Materials and Supplies	406	390
Other Current Assets	156	187
Total Current Assets	3,408	2,550
Properties	54,464	53,816
Accumulated Depreciation	(17,518)	(17,005)
Properties - Net	36,946	36,811
Investment in Affiliates and Other Companies	2,675	2,634
Right-of-Use Lease Asset	478	464
Goodwill and Other Intangible Assets - Net	261	267
Other Long-term Assets	958	956
Total Assets	44,726	43,682
Current Liabilities:
Accounts Payable	1,111	1,149
Labor and Fringe Benefits Payable	549	532
Casualty, Environmental and Other Reserves (Note 4)	182	184
Current Maturities of Long-term Debt (Note 7)	1,702	708
Income and Other Taxes Payable	188	118
Interest Payable	172	170
Other Current Liabilities	250	272
Total Current Liabilities	4,154	3,133
Casualty, Environmental and Other Reserves (Note 4)	300	295
Long-term Debt (Note 7)	17,162	18,165
Deferred Income Taxes - Net	8,000	7,914
Long-term Lease Liability	493	479
Other Long-term Liabilities	529	536
Total Liabilities	30,638	30,522
Shareholders' Equity:
Common Stock, $1 Par Value	1,852	1,860
Other Capital	1,087	948
Retained Earnings	11,352	10,560
Accumulated Other Comprehensive Loss (Note 10)	(209)	(213)
Non-controlling Minority Interest	6	5
Total Shareholders' Equity	14,088	13,160
Total Liabilities and Shareholders' Equity	$ 44,726	$ 43,682