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Employee Benefit Plans
 3 Months Ended
Mar. 31, 2021
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Company sponsors defined benefit pension plans principally for salaried, management personnel. Beginning in 2020, the CSX Pension Plan was closed to new participants.

CSX also sponsors a post-retirement medical plan and a life insurance plan that provide certain benefits to eligible employees hired prior to January 1, 2003. Beginning in 2019, both the life insurance benefit and health savings account contributions made by the Company to eligible retirees younger than 65 were eliminated for those retiring on or after January 1, 2019. Beginning in 2020, the employer-funded health reimbursement arrangements and life insurance benefit for eligible retirees 65 years or older were eliminated. Independent actuaries compute the amounts of liabilities and expenses relating to these plans subject to the assumptions that the Company determines are appropriate based on historical trends, current market rates and future projections. These amounts are reviewed by management.

Only the service cost component of net periodic benefit costs is included in labor and fringe expense on the consolidated income statement. All other components of net periodic benefit cost are included in other income - net.

Pension Benefits Cost
First Quarters
(Dollars in millions)20212020
Service Cost Included in Labor and Fringe$9 $10 
Interest Cost14 20 
Expected Return on Plan Assets(46)(43)
Amortization of Net Loss18 14 
Total Included in Other Income - Net(14)(9)
Net Periodic Benefit (Credit)/Cost$(5)$1 
Other Post-retirement Benefits Cost
First Quarters
(Dollars in millions)20212020
Service Cost Included in Labor and Fringe$— $— 
Interest Cost— 1 
Amortization of Prior Service Credits(1)(2)
Total Included in Other Income - Net(1)(1)
Net Periodic Benefit Credit$(1)$(1)
    
    Qualified pension plan obligations are funded in accordance with regulatory requirements and with an objective of meeting or exceeding minimum funding requirements necessary to avoid restrictions on flexibility of plan operation and benefit payments. No contributions to the Company's qualified pension plans are expected in 2021.