Summarized Consolidating Financial Data (Tables)

3 Months Ended

Mar. 29, 2013

Summarized Consolidating Financial Data [Abstract]

Consolidating Income Statements

Consolidating Income Statements
(Dollars in millions)
First Quarter 2013	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	2,941		$	17		$	2,958
Expense	(93		)	2,217			(41		)	2,083
Operating Income	93			724			58			875
Equity in Earnings of Subsidiaries	486			(1		)	(485		)	—
Interest (Expense) / Benefit	(134		)	(17		)	4			(147		)
Other Income / (Expense) - Net	(1		)	2			(4		)	(3		)
Earnings Before Income Taxes	444			708			(427		)	725
Income Tax Benefit / (Expense)	15			(262		)	(19		)	(266		)
Net Earnings	$	459		$	446		$	(446	)	$	459
Total Comprehensive Earnings	$	476		$	446		$	(446	)	$	476
First Quarter 2012	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Revenue	$	—		$	2,950		$	16		$	2,966
Expense	(87		)	2,229			(32		)	2,110
Operating Income	87			721			48			856
Equity in Earnings of Subsidiaries	477			(1		)	(476		)	—
Interest (Expense) / Benefit	(130		)	(19		)	5			(144		)
Other Income / (Expense) - Net	(1		)	3			2			4
Earnings Before Income Taxes	433			704			(421		)	716
Income Tax (Expense) / Benefit	16			(263		)	(20		)	(267		)
Net Earnings	$	449		$	441		$	(441	)	$	449
Total Comprehensive Earnings	$	458		$	438		$	(438	)	$	458

Consolidating Balance Sheet

Consolidating Balance Sheet
(Dollars in millions)
As of First Quarter 2013	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
ASSETS
Current Assets
Cash and Cash Equivalents	$	445		$	208		$	52		$	705
Short-term Investments	330			—			37			367
Accounts Receivable - Net	—			383			593			976
Receivable from Affiliates	1,113			1,939			(3,052		)	—
Materials and Supplies	—			283			—			283
Deferred Income Taxes	57			71			5			133
Other Current Assets	12			89			2			103
Total Current Assets	1,957			2,973			(2,363		)	2,567
Properties	8			33,690			1,976			35,674
Accumulated Depreciation	(8		)	(8,353		)	(1,025		)	(9,386		)
Properties - Net	—			25,337			951			26,288
Investments in Conrail	—			—			703			703
Affiliates and Other Companies	(39		)	594			(43		)	512
Investments in Consolidated Subsidiaries	19,093			—			(19,093		)	—
Other Long-term Assets	185			367			(36		)	516
Total Assets	$	21,196		$	29,271		$	(19,881	)	$	30,586
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	163		$	855		$	25		$	1,043
Labor and Fringe Benefits Payable	33			315			28			376
Payable to Affiliates	2,801			473			(3,274		)	—
Casualty, Environmental and Other Reserves	—			123			16			139
Current Maturities of Long-term Debt	500			72			—			572
Income and Other Taxes Payable	(181		)	377			10			206
Other Current Liabilities	—			135			3			138
Total Current Liabilities	3,316			2,350			(3,192		)	2,474
Casualty, Environmental and Other Reserves	—			250			73			323
Long-term Debt	7,806			1,040			—			8,846
Deferred Income Taxes	(154		)	8,224			132			8,202
Other Long-term Liabilities	898			625			(130		)	1,393
Total Liabilities	$	11,866		$	12,489		$	(3,117	)	$	21,238
Shareholders' Equity
Common Stock, $1 Par Value	$	1,022		$	181		$	(181	)	$	1,022
Other Capital	36			5,074			(5,074		)	36
Retained Earnings	9,191			11,607			(11,607		)	9,191
Accumulated Other Comprehensive Loss	(919		)	(102		)	102			(919		)
Noncontrolling Interest	—			22			(4		)	18
Total Shareholders' Equity	$	9,330		$	16,782		$	(16,764	)	$	9,348
Total Liabilities and Shareholders' Equity	$	21,196		$	29,271		$	(19,881	)	$	30,586

Consolidating Balance Sheet (Dollars in millions)
As of December 2012	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
ASSETS
Current Assets
Cash and Cash Equivalents	$	481		$	235		$	68		$	784
Short-term Investments	555			—			32			587
Accounts Receivable - Net	3			427			532			962
Receivable from Affiliates	993			1,798			(2,791		)	—
Materials and Supplies	—			274			—			274
Deferred Income Taxes	52			62			5			119
Other Current Assets	11			64			—			75
Total Current Assets	2,095			2,860			(2,154		)	2,801
Properties	8			33,333			1,938			35,279
Accumulated Depreciation	(8		)	(8,225		)	(996		)	(9,229		)
Properties - Net	—			25,108			942			26,050
Investments in Conrail	—			—			695			695
Affiliates and Other Companies	(39		)	593			(43		)	511
Investment in Consolidated Subsidiaries	18,783			—			(18,783		)	—
Other Long-term Assets	186			368			(40		)	514
Total Assets	$	21,025		$	28,929		$	(19,383	)	$	30,571
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	133		$	846		$	35		$	1,014
Labor and Fringe Benefits Payable	35			391			42			468
Payable to Affiliates	2,679			411			(3,090		)	—
Casualty, Environmental and Other Reserves	—			124			16			140
Current Maturities of Long-term Debt	700			80			—			780
Income and Other Taxes Payable	(262		)	334			13			85
Other Current Liabilities	(1		)	139			2			140
Total Current Liabilities	3,284			2,325			(2,982		)	2,627
Casualty, Environmental and Other Reserves	—			256			81			337
Long-term Debt	8,005			1,047			—			9,052
Deferred Income Taxes	(153		)	8,131			118			8,096
Other Long-term Liabilities	901			656			(100		)	1,457
Total Liabilities	$	12,037		$	12,415		$	(2,883	)	$	21,569
Shareholders' Equity
Common Stock, $1 Par Value	$	1,020		$	181		$	(181	)	$	1,020
Other Capital	28			5,672			(5,672		)	28
Retained Earnings	8,876			10,740			(10,740		)	8,876
Accumulated Other Comprehensive Loss	(936		)	(102		)	102			(936		)
Noncontrolling Minority Interest	—			23			(9		)	14
Total Shareholders' Equity	$	8,988		$	16,514		$	(16,500	)	$	9,002
Total Liabilities and Shareholders' Equity	$	21,025		$	28,929		$	(19,383	)	$	30,571

Consolidating Cash Flow Statements

Consolidating Cash Flow Statements
(Dollars in millions)
First Quarter 2013	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	272		$	689		$	(230	)	$	731
Investing Activities
Property Additions	—			(458		)	(33		)	(491		)
Purchases of Short-term Investments	(285		)	—			(5		)	(290		)
Proceeds from Sales of Short-term Investments	510			—			24			534
Other Investing Activities	—			(63		)	45			(18		)
Net Cash Provided by (Used in) Investing Activities	225			(521		)	31			(265		)
Financing Activities
Long-term Debt Repaid	(400		)	(13		)	—			(413		)
Dividends Paid	(143		)	(182		)	182			(143		)
Stock Options Exercised	6			—			—			6
Other Financing Activities	4			—			1			5
Net Cash Provided by (Used in) Financing Activities	(533		)	(195		)	183			(545		)
Net Increase (Decrease) in Cash and Cash Equivalents	(36		)	(27		)	(16		)	(79		)
Cash and Cash Equivalents at Beginning of Period	481			235			68			784
Cash and Cash Equivalents at End of Period	$	445		$	208		$	52		$	705

NOTE 11.Summarized Consolidating Financial Data, continued

Consolidating Cash Flow Statements
(Dollars in millions)
First Quarter 2012	CSX Corporation			CSX Transportation			Eliminations and Other			Consolidated
Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	(23	)	$	641		$	(174	)	$	444
Investing Activities
Property Additions	—			(435		)	(34		)	(469		)
Purchases of Short-term Investments	(50		)	—			(3		)	(53		)
Proceeds from Sales of Short-term Investments	425			—			12			437
Other Investing Activities	1			(13		)	20			8
Net Cash Provided by (Used in) Investing Activities	376			(448		)	(5		)	(77		)
Financing Activities
Long-term Debt Issued	300			—			—			300
Long-term Debt Repaid	(400		)	(13		)	—			(413		)
Dividends Paid	(125		)	(179		)	179			(125		)
Stock Options Exercised	8			—			—			8
Shares Repurchased	(300		)	—			—			(300		)
Other Financing Activities	—			4			3			7
Net Cash Provided by (Used in) Financing Activities	(517		)	(188		)	182			(523		)
Net Increase (Decrease) in Cash and Cash Equivalents	(164		)	5			3			(156		)
Cash and Cash Equivalents at Beginning of Period	549			154			80			783
Cash and Cash Equivalents at End of Period	$	385		$	159		$	83		$	627