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Stock Plans and Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation and Related Income Tax Benefit Total pre-tax expense and income tax benefits associated with share-based compensation are shown in the table below. Income tax benefits include impacts from option exercises and the vesting of other equity awards.
 Fiscal Years
(Dollars in Millions)202120202019
Share-Based Compensation Expense
Performance Units$71 $(3)$42 
Stock Options18 19 18 
Restricted Stock Units and Awards12 
Employee Stock Purchase Plan4 
Stock Awards for Directors2 
Total Share-based Compensation Expense$107 $29 $74 
Income Tax Benefit$23 $19 $43 
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Performance Units
The fair values of the performance units awarded during the years ended December 2021, 2020 and 2019 were calculated primarily using a Monte-Carlo simulation model with the following weighted-average assumptions:

Weighted-average assumptions used:202120202019
Annual dividend yieldn/an/a1.4 %
Risk-free interest rate0.2 %1.4 %2.4 %
Annualized volatility33.6 %24.5 %27.4 %
Expected life (in years)
2.92.92.8
Schedule of Performance Unit Grant and Vesting Information Performance unit grant and vesting information is summarized as follows:
 Fiscal Years
 202120202019
Weighted-average grant date fair value $30.11 $25.39 $22.06 
Fair value of units vested in fiscal year ending (in millions)
$19 $18 $17 
Schedule of Performance Unit Activity Related to Outstanding Long-term Incentive Plans and Corresponding Fair Value
The performance unit activity related to the outstanding long-term incentive plans and corresponding fair value is summarized as follows:
 Performance Units Outstanding
(in Thousands)
Weighted-Average Fair Value at Grant Date
Unvested at December 31, 20201,920 $23.86 
Granted 597 30.11 
Forfeited (59)24.30 
Vested (882)22.09 
Unvested at December 31, 20211,576 $27.21 
Schedule of Assumptions and Inputs Used to Estimate Fair Value of Stock Options Assumptions and inputs used to estimate fair value of stock options are summarized as follows:
Fiscal Years
 202120202019
Weighted-average grant date fair value $7.94 $6.31 $5.96 
Stock options valuation assumptions:
Annual dividend yield1.2 %1.2 %1.3 %
Risk-free interest rate0.7 %1.4 %2.4 %
Annualized volatility31.2 %26.1 %25.7 %
Expected life (in years)6.06.06.1
Other pricing model inputs:
Weighted-average grant-date market price of CSX stock (strike price)$29.65 $26.53 $23.34 
Schedule of Stock Option Activity
The stock option activity is summarized as follows:
 Stock Options Outstanding
(in Thousands)
Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Life
(in Years)
Aggregate Intrinsic Value
(in Millions)
Outstanding at December 31, 202012,652 $20.29 
Granted 2,005 29.69 
Forfeited (174)26.91 
Exercised(1,971)15.76 
Outstanding at December 31, 202112,512 $22.42 7.2$190 
Exercisable at December 31, 20216,347 $18.16 6.1$123 
Schedule of Intrinsic Value and Cash Proceeds of Options Exercises Additional information on stock option exercises is summarized as follows:
(Dollars in Millions)202120202019
Intrinsic value of stock options exercised$32 $30 $87 
Cash received from option exercises$31 $29 $45 
Schedule of Restricted Stock Grant and Vesting Information Restricted stock grant and vesting information is summarized as follows:
 Fiscal Years
 202120202019
Weighted-average grant date fair value$29.84 $26.43 $23.06 
Fair value of units and awards vested during fiscal year ended (in millions)
$12 $$
Schedule of Outstanding Restricted Stock Units and Awards
The restricted stock activity related to the outstanding long-term incentive plans and other awards and corresponding fair value is summarized as follows:
 Restricted Stock Units and Awards Outstanding
(in Thousands)
Weighted-Average Fair Value at Grant Date
Unvested at December 31, 20201,055 $22.36 
Granted561 29.84 
Forfeited (50)27.31 
Vested (543)21.26 
Unvested at December 31, 20211,023 $27.53 
Schedule of Shares Issued under Employee Stock Purchase Plan During 2021, 2020 and 2019, the Company issued the following shares under this program.
 Fiscal Years
 202120202019
Shares issued (in thousands)730 726 747 
Weighted average purchase price per share$21.90 $20.13 $17.57