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Summarized Consolidating Financial Data (Tables)
6 Months Ended
Jun. 27, 2014
Summarized Consolidating Financial Data [Abstract]  
Consolidating Income Statements
 Consolidating Income Statements
 (Dollars in millions)
Second Quarter 2014
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
3,223

$
21

$
3,244

 Expense
(105
)
2,360

(8
)
2,247

 Operating Income
105

863

29

997

 
 
 
 
 
 Equity in Earnings of Subsidiaries
545


(545
)

 Interest (Expense) / Benefit
(126
)
(14
)
5

(135
)
 Other Income / (Expense) - Net
(3
)
(10
)
1

(12
)
 
 
 
 
 
 Earnings Before Income Taxes
521

839

(510
)
850

 Income Tax Benefit / (Expense)
8

(318
)
(11
)
(321
)
 Net Earnings
$
529

$
521

$
(521
)
$
529

 
 
 
 
 
Total Comprehensive Earnings
$
544

$
522

$
(522
)
$
544

 
 
 
 
 
Second Quarter 2013
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
3,027

$
19

$
3,046

 Expense
(92
)
2,213

(15
)
2,106

 Operating Income
92

814

34

940

 
 
 
 
 
 Equity in Earnings of Subsidiaries
536


(536
)

 Interest (Expense) / Benefit
(128
)
(15
)
3

(140
)
 Other Income / (Expense) - Net
(2
)
(3
)
14

9

 
 
 
 
 
 Earnings Before Income Taxes
498

796

(485
)
809

 Income Tax (Expense) / Benefit
23

(294
)
(17
)
(288
)
 Net Earnings
$
521

$
502

$
(502
)
$
521

 
 
 
 
 
Total Comprehensive Earnings
$
538

$
504

$
(504
)
$
538

 Consolidating Income Statements
 (Dollars in millions)
Six Months Ended June 27, 2014
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
6,215

$
41

$
6,256

 Expense
(208
)
4,753

(25
)
4,520

 Operating Income
208

1,462

66

1,736

 
 
 
 
 
 Equity in Earnings of Subsidiaries
961


(961
)

 Interest (Expense) / Benefit
(256
)
(28
)
9

(275
)
 Other Income / (Expense) - Net
(5
)
(4
)
4

(5
)
 
 
 
 
 
 Earnings Before Income Taxes
908

1,430

(882
)
1,456

 Income Tax (Expense) / Benefit
19

(522
)
(26
)
(529
)
 Net Earnings
$
927

$
908

$
(908
)
$
927

 
 
 
 
 
Total Comprehensive Earnings
$
958

$
915

$
(915
)
$
958

 
 
 
 
 
Six Months Ended June 28, 2013
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 Revenue
$

$
5,973

$
36

$
6,009

 Expense
(185
)
4,430

(56
)
4,189

 Operating Income
185

1,543

92

1,820

 
 
 
 
 
 Equity in Earnings of Subsidiaries
1,025

(1
)
(1,024
)

 Interest (Expense) / Benefit
(262
)
(32
)
7

(287
)
 Other Income / (Expense) - Net
(3
)
(1
)
10

6

 
 
 
 
 
 Earnings Before Income Taxes
945

1,509

(915
)
1,539

 Income Tax (Expense) / Benefit
38

(558
)
(36
)
(556
)
 Net Earnings
$
983

$
951

$
(951
)
$
983

 
 
 
 
 
Total Comprehensive Earnings
$
1,017

$
953

$
(953
)
$
1,017

 
 
 
 
 


Consolidating Balance Sheet
 Consolidating Balance Sheet
 (Dollars in millions)
As of June 2014
 CSX Corporation
 CSX Transportation
 Eliminations and Other
 Consolidated
 
 
 
 
 
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
407

$
103

$
63

$
573

 Short-term Investments
195


21

216

 Accounts Receivable - Net
5

168

889

1,062

 Receivable from Affiliates
1,160

2,633

(3,793
)

 Materials and Supplies

275


275

 Deferred Income Taxes
(8
)
132

(1
)
123

 Other Current Assets
24

88

11

123

   Total Current Assets
1,783

3,399

(2,810
)
2,372

 
 
 
 
 
 Properties
1

35,724

2,285

38,010

 Accumulated Depreciation
(1
)
(9,148
)
(1,176
)
(10,325
)
 Properties - Net

26,576

1,109

27,685

 
 
 
 
 
 Investments in Conrail


768

768

 Affiliates and Other Companies
(39
)
629

(27
)
563

 Investments in Consolidated Subsidiaries
20,914


(20,914
)

 Other Long-term Assets
214

389

(16
)
587

   Total Assets
$
22,872

$
30,993

$
(21,890
)
$
31,975

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
102

$
769

$
29

$
900

 Labor and Fringe Benefits Payable
34

417

39

490

 Payable to Affiliates
3,317

443

(3,760
)

 Casualty, Environmental and Other Reserves

136

15

151

 Current Maturities of Long-term Debt
600

299


899

 Income and Other Taxes Payable
(178
)
400

7

229

 Other Current Liabilities

118

10

128

   Total Current Liabilities
3,875

2,582

(3,660
)
2,797

 
 
 
 
 
 Casualty, Environmental and Other Reserves

222

67

289

 Long-term Debt
7,709

701


8,410

 Deferred Income Taxes
(66
)
8,603

191

8,728

 Other Long-term Liabilities
472

500

(125
)
847

   Total Liabilities
$
11,990

$
12,608

$
(3,527
)
$
21,071

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
1,000

$
181

$
(181
)
$
1,000

 Other Capital
70

5,077

(5,077
)
70

 Retained Earnings
10,304

13,137

(13,137
)
10,304

 Accumulated Other Comprehensive Loss
(492
)
(36
)
36

(492
)
 Noncontrolling Interest

26

(4
)
22

 Total Shareholders' Equity
$
10,882

$
18,385

$
(18,363
)
$
10,904

 Total Liabilities and Shareholders' Equity
$
22,872

$
30,993

$
(21,890
)
$
31,975

Consolidating Balance Sheet
(Dollars in millions)
As of December 2013
 CSX Corporation
 CSX Transportation
Eliminations and Other
 Consolidated
ASSETS
 Current Assets
 
 
 
 
 Cash and Cash Equivalents
$
439

$
91

$
62

$
592

 Short-term Investments
472


15

487

 Accounts Receivable - Net
3

240

809

1,052

 Receivable from Affiliates
1,141

2,635

(3,776
)

 Materials and Supplies

252


252

 Deferred Income Taxes
(5
)
161

(1
)
155

 Other Current Assets
1

57

6

64

   Total Current Assets
2,051

3,436

(2,885
)
2,602

 
 
 
 
 
 Properties
1

34,987

2,196

37,184

 Accumulated Depreciation
(1
)
(8,778
)
(1,114
)
(9,893
)
 Properties - Net

26,209

1,082

27,291

 
 
 
 
 
 Investments in Conrail


752

752

 Affiliates and Other Companies
(39
)
612

(27
)
546

 Investment in Consolidated Subsidiaries
20,226


(20,226
)

 Other Long-term Assets
217

388

(14
)
591

   Total Assets
$
22,455

$
30,645

$
(21,318
)
$
31,782

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 Current Liabilities
 
 
 
 
 Accounts Payable
$
110

$
809

$
38

$
957

 Labor and Fringe Benefits Payable
38

491

58

587

 Payable to Affiliates
3,298

535

(3,833
)

 Casualty, Environmental and Other Reserves

136

15

151

 Current Maturities of Long-term Debt
200

333


533

 Income and Other Taxes Payable
(397
)
479

9

91

 Other Current Liabilities

103

2

105

   Total Current Liabilities
3,249

2,886

(3,711
)
2,424

 
 
 
 
 
 Casualty, Environmental and Other Reserves

231

69

300

 Long-term Debt
8,308

714


9,022

 Deferred Income Taxes
(64
)
8,548

178

8,662

 Other Long-term Liabilities
479

512

(121
)
870

   Total Liabilities
$
11,972

$
12,891

$
(3,585
)
$
21,278

 
 
 
 
 
 Shareholders' Equity
 
 
 
 
 Common Stock, $1 Par Value
$
1,009

$
181

$
(181
)
$
1,009

 Other Capital
61

5,077

(5,077
)
61

 Retained Earnings
9,936

12,514

(12,514
)
9,936

 Accumulated Other Comprehensive Loss
(523
)
(43
)
43

(523
)
 Noncontrolling Minority Interest

25

(4
)
21

   Total Shareholders' Equity
$
10,483

$
17,754

$
(17,733
)
$
10,504

   Total Liabilities and Shareholders' Equity
$
22,455

$
30,645

$
(21,318
)
$
31,782

Consolidating Cash Flow Statements
Consolidating Cash Flow Statements
(Dollars in millions)
Six months ended June 27, 2014
CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
453

$
1,276

$
(284
)
$
1,445

Investing Activities
 

 
 
Property Additions

(867
)
(89
)
(956
)
Purchases of Short-term Investments
(360
)


(360
)
Proceeds from Sales of Short-term Investments
637


9

646

Other Investing Activities

(58
)
78

20

Net Cash Provided by (Used in) Investing Activities
277

(925
)
(2
)
(650
)
Financing Activities
 
 
 
 
Long-term Debt Repaid
(200
)
(44
)

(244
)
Dividends Paid
(311
)
(285
)
285

(311
)
Shares Repurchased
(257
)


(257
)
Other Financing Activities
6

(10
)
2

(2
)
Net Cash Provided by (Used in) Financing Activities
(762
)
(339
)
287

(814
)
Net Increase (Decrease) in Cash and Cash Equivalents
(32
)
12

1

(19
)
Cash and Cash Equivalents at Beginning of Period
439

91

62

592

Cash and Cash Equivalents at End of Period
$
407

$
103

$
63

$
573



NOTE 11.    Summarized Consolidating Financial Data, continued
Consolidating Cash Flow Statements
(Dollars in millions)
Six months ended June 28, 2013
 CSX
Corporation
CSX
Transportation
Eliminations and Other
Consolidated
Operating Activities
 
 
 
 
Net Cash Provided by (Used in) Operating Activities
$
582

$
1,319

$
(322
)
$
1,579

Investing Activities
 
 
 
 
Property Additions

(988
)
(97
)
(1,085
)
Purchases of Short-term Investments
(685
)

(5
)
(690
)
Proceeds from Sales of Short-term Investments
840


64

904

Other Investing Activities
(2
)
(35
)
(13
)
(50
)
Net Cash Provided by (Used in) Investing Activities
153

(1,023
)
(51
)
(921
)
Financing Activities
 
 
 
 
Long-term Debt Repaid
(400
)
(55
)

(455
)
Dividends Paid
(296
)
(365
)
365

(296
)
Stock Options Exercised
9



9

Shares Repurchased
(95
)


(95
)
Other Financing Activities
7

4

(2
)
9

Net Cash Provided by (Used in) Financing Activities
(775
)
(416
)
363

(828
)
Net Increase (Decrease) in Cash and Cash Equivalents
(40
)
(120
)
(10
)
(170
)
Cash and Cash Equivalents at Beginning of Period
481

235

68

784

Cash and Cash Equivalents at End of Period
$
441

$
115

$
58

$
614