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Summarized Consolidating Financial Data (Tables)
6 Months Ended
Jun. 29, 2012
Summarized Consolidating Financial Data [Abstract]  
Consolidating Income Statements
 Consolidating Income Statements
 (Dollars in millions)
Second Quarter 2012
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
2,995

$
17

$
3,012

 Expense
(89
)
2,192

(34
)
2,069

 Operating Income
89

803

51

943

 
 
 
 
 
 Equity in Earnings of Subsidiaries
557


(557
)

 Interest (Expense) / Benefit
(125
)
(17
)
3

(139
)
 Other Income / (Expense) - Net
(1
)
1

5

5

 
 
 
 
 
 Earnings Before Income Taxes
520

787

(498
)
809

 Income Tax (Expense) / Benefit
(8
)
(270
)
(19
)
(297
)
 Net Earnings
$
512

$
517

$
(517
)
$
512

 
 
 
 
 
Total Comprehensive Earnings
$
529

$
518

$
(518
)
$
529

 
 
 
 
 
Second Quarter 2011
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
3,003

$
16

$
3,019

 Expense
(68
)
2,222

(61
)
2,093

 Operating Income
68

781

77

926

 
 
 
 
 
 Equity in Earnings of Subsidiaries
540

2

(542
)

 Interest (Expense) / Benefit
(121
)
(22
)
9

(134
)
 Other Income / (Expense) - Net
1


(1
)

 
 
 
 
 
 Earnings Before Income Taxes
488

761

(457
)
792

 Income Tax (Expense) / Benefit
18

(275
)
(29
)
(286
)
 Net Earnings
$
506

$
486

$
(486
)
$
506

 
 
 
 
 
Total Comprehensive Earnings
$
519

$
485

$
(485
)
$
519

 Consolidating Income Statements
 (Dollars in millions)
Six Months Ended June 29, 2012
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
5,945

$
33

$
5,978

 Expense
(176
)
4,421

(66
)
4,179

 Operating Income
176

1,524

99

1,799

 
 
 
 
 
 Equity in Earnings of Subsidiaries
1,034

(1
)
(1,033
)

 Interest (Expense) / Benefit
(255
)
(36
)
8

(283
)
 Other Income / (Expense) - Net
(2
)
4

7

9

 
 
 
 
 
 Earnings Before Income Taxes
953

1,491

(919
)
1,525

 Income Tax (Expense) / Benefit
8

(533
)
(39
)
(564
)
 Net Earnings
$
961

$
958

$
(958
)
$
961

 
 
 
 
 
Total Comprehensive Earnings
$
987

$
956

$
(956
)
$
987

 
 
 
 
 
Six Months Ended July 1, 2011
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
5,797

$
32

$
5,829

 Expense
(133
)
4,364

(101
)
4,130

 Operating Income
133

1,433

133

1,699

 
 
 
 
 
 Equity in Earnings of Subsidiaries
972

3

(975
)

 Interest (Expense) / Benefit
(247
)
(45
)
18

(274
)
 Other Income / (Expense) - Net
3

2


5

 
 
 
 
 
 Earnings Before Income Taxes
861

1,393

(824
)
1,430

 Income Tax (Expense) / Benefit
40

(516
)
(53
)
(529
)
 Net Earnings
$
901

$
877

$
(877
)
$
901

 
 
 
 
 
Total Comprehensive Earnings
$
925

$
877

$
(877
)
$
925

 
 
 
 
 
Consolidating Balance Sheet
 Consolidating Balance Sheet
 (Dollars in millions)
As of Second Quarter 2012
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 
 
 
 
 
 ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
405

$
160

$
77

$
642

 Short-term Investments


41

41

 Accounts Receivable - Net
9

531

596

1,136

 Receivable from Affiliates
1,071

1,509

(2,580
)

 Materials and Supplies

256


256

 Deferred Income Taxes
20

153

(1
)
172

 Other Current Assets
18

100

7

125

   Total Current Assets
1,523

2,709

(1,860
)
2,372

 
 
 
 
 
 Properties
8

32,777

1,831

34,616

 Accumulated Depreciation
(8
)
(7,997
)
(979
)
(8,984
)
 Properties - Net

24,780

852

25,632

 
 
 
 
 
 Investments in Conrail


687

687

 Affiliates and Other Companies
(39
)
578

(43
)
496

 Investments in Consolidated Subsidiaries
18,212


(18,212
)

 Other Long-term Assets
184

277

(59
)
402

   Total Assets
$
19,880

$
28,344

$
(18,635
)
$
29,589

 
 
 
 
 
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities
 
 
 
 
 Accounts Payable
$
102

$
925

$
28

$
1,055

 Labor and Fringe Benefits Payable
35

370

29

434

 Payable to Affiliates
2,351

446

(2,797
)

 Casualty, Environmental and Other Reserves

155

16

171

 Current Maturities of Long-term Debt
400

107

1

508

 Income and Other Taxes Payable
(22
)
236

14

228

 Other Current Liabilities
(1
)
177

3

179

   Total Current Liabilities
2,865

2,416

(2,706
)
2,575

 
 
 
 
 
 Casualty, Environmental and Other Reserves

256

71

327

 Long-term Debt
7,507

1,074


8,581

 Deferred Income Taxes
(143
)
7,965

74

7,896

 Other Long-term Liabilities
770

624

(79
)
1,315

   Total Liabilities
$
10,999

$
12,335

$
(2,640
)
$
20,694

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
1,040

181

(181
)
1,040

 Other Capital
11

5,668

(5,668
)
11

 Retained Earnings
8,679

10,219

(10,219
)
8,679

 Accumulated Other Comprehensive Loss
(849
)
(81
)
81

(849
)
 Noncontrolling Interest

22

(8
)
14

 Total Shareholders' Equity
8,881

16,009

(15,995
)
8,895

 Total Liabilities and Shareholders' Equity
$
19,880

$
28,344

$
(18,635
)
$
29,589

Consolidating Balance Sheet
(Dollars in millions)
As of December 2011
 CSX Corporation
 CSX Transportation
Eliminations and Other
 Consolidated
 ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
549

$
154

$
80

$
783

 Short-term Investments
475


48

523

 Accounts Receivable - Net
4

468

657

1,129

 Receivable from Affiliates
1,025

1,772

(2,797
)

 Materials and Supplies

240


240

 Deferred Income Taxes
10

173

(1
)
182

 Other Current Assets
17

64

(3
)
78

   Total Current Assets
2,080

2,871

(2,016
)
2,935

 
 
 
 
 
 Properties
8

31,958

1,738

33,704

 Accumulated Depreciation
(8
)
(7,795
)
(927
)
(8,730
)
 Properties - Net

24,163

811

24,974

 
 
 
 
 
 Investments in Conrail


678

678

 Affiliates and Other Companies
(39
)
574

(42
)
493

 Investment in Consolidated Subsidiaries
17,519


(17,519
)

 Other Long-term Assets
176

109

108

393

   Total Assets
$
19,736

$
27,717

$
(17,980
)
$
29,473

 
 
 
 
 
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities
 
 
 
 
 Accounts Payable
$
114

$
978

$
55

$
1,147

 Labor and Fringe Benefits Payable
41

458

42

541

 Payable to Affiliates
2,566

374

(2,940
)

 Casualty, Environmental and Other Reserves

151

16

167

 Current Maturities of Long-term Debt
400

105

2

507

 Income and Other Taxes Payable
(60
)
189


129

 Other Current Liabilities
(1
)
194

3

196

   Total Current Liabilities
3,060

2,449

(2,822
)
2,687

 
 
 
 
 
 Casualty, Environmental and Other Reserves

284

68

352

 Long-term Debt
7,609

1,124

1

8,734

 Deferred Income Taxes
(246
)
7,800

47

7,601

 Other Long-term Liabilities
858

667

106

1,631

   Total Liabilities
$
11,281

$
12,324

$
(2,600
)
$
21,005

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
1,049

181

(181
)
1,049

 Other Capital
6

5,652

(5,652
)
6

 Retained Earnings
8,275

9,618

(9,618
)
8,275

 Accumulated Other Comprehensive Loss
(875
)
(79
)
79

(875
)
 Noncontrolling Minority Interest

21

(8
)
13

   Total Shareholders' Equity
8,455

15,393

(15,380
)
8,468

   Total Liabilities and Shareholders' Equity
$
19,736

$
27,717

$
(17,980
)
$
29,473

Consolidating Cash Flow Statements
Consolidating Cash Flow Statements
(Dollars in millions)
Six months ended June 29, 2012
CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
37

$
1,445

$
(191
)
$
1,291

Investing Activities
 

 
 
Property Additions

(1,130
)
(93
)
(1,223
)
Purchases of Short-term Investments
(50
)

(8
)
(58
)
Proceeds from Sales of Short-term Investments
525


21

546

Other Investing Activities
(3
)
97

(88
)
6

Net Cash Provided by (Used in) Investing Activities
472

(1,033
)
(168
)
(729
)
Financing Activities
 
 
 
 
Long-term Debt Issued
300



300

Long-term Debt Repaid
(400
)
(54
)
(1
)
(455
)
Dividends Paid
(270
)
(357
)
357

(270
)
Stock Options Exercised
10



10

Shares Repurchased
(300
)


(300
)
Other Financing Activities
7

5


12

Net Cash Provided by (Used in) Financing Activities
(653
)
(406
)
356

(703
)
Net Increase (Decrease) in Cash and Cash Equivalents
(144
)
6

(3
)
(141
)
Cash and Cash Equivalents at Beginning of Period
549

154

80

783

Cash and Cash Equivalents at End of Period
$
405

$
160

$
77

$
642



NOTE 11.    Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements
(Dollars in millions)
Six months ended July 1, 2011
 CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
518

$
1,270

$
(203
)
$
1,585

Investing Activities
 
 
 
 
Property Additions

(864
)
(81
)
(945
)
Purchases of Short-term Investments


(8
)
(8
)
Proceeds from Sales of Short-term Investments


42

42

Other Investing Activities
(16
)
(95
)
93

(18
)
Net Cash Provided by (Used in) Investing Activities
(16
)
(959
)
46

(929
)
Financing Activities
 
 
 
 
Long-term Debt Issued
600



600

Long-term Debt Repaid
(507
)
(61
)
(2
)
(570
)
Dividends Paid
(231
)
(170
)
173

(228
)
Stock Options Exercised
24



24

Shares Repurchased
(528
)


(528
)
Other Financing Activities
28

(8
)
(14
)
6

Net Cash Provided by (Used in) Financing Activities
(614
)
(239
)
157

(696
)
Net Increase (Decrease) in Cash and Cash Equivalents
(112
)
72


(40
)
Cash and Cash Equivalents at Beginning of Period
1,100

118

74

1,292

Cash and Cash Equivalents at End of Period
$
988

$
190

$
74

$
1,252