CSX (CSX) 10-Q16 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover	9 Months Ended
Cover	Sep. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-8022
Entity Registrant Name	CSX CORPORATION
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	62-1051971
Entity Address, Address Line One	500 Water Street
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	359-3200
Title of 12(b) Security	Common Stock, $1 Par Value
Trading Symbol	CSX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,928,419,153
Entity Central Index Key	0000277948
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED INCOME STATEMENTS

CONSOLIDATED INCOME STATEMENTS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2024		Sep. 30, 2023	[1]	Sep. 30, 2024		Sep. 30, 2023	[1]
Income Statement
Revenue	$ 3,619		$ 3,572		$ 11,001	[1]	$ 10,977
Expense
Labor and Fringe	806		761		2,377	[1]	2,238
Purchased Services and Other	675		700		2,095	[1]	2,088
Depreciation and Amortization	416		403		1,236	[1]	1,202
Fuel	276		349		902	[1]	1,025
Equipment and Other Rents	91		94		260	[1]	266
Losses (Gains) on Property Dispositions	1		(6)		(8)	[2]	(26)
Total Expense	2,265		2,301		6,862	[1]	6,793
Operating Income	1,354		1,271		4,139	[1]	4,184
Interest Expense	(206)		(203)		(625)	[1]	(605)
Other Income - Net	36		34		105	[1]	106
Earnings Before Income Taxes	1,184		1,102		3,619	[1]	3,685
Income Tax Expense	(290)		(274)		(882)	[1]	(899)
Net Earnings	$ 894	[3]	$ 828		$ 2,737	[1]	$ 2,786
Per Common Share (Note 2)
Net Earnings Per Share, Basic (in dollars per share)	$ 0.46		$ 0.42		$ 1.41	[1]	$ 1.38
Net Earnings Per Share, Assuming Dilution (in dollars per share)	$ 0.46		$ 0.41		$ 1.40	[1]	$ 1.37
Average Shares Outstanding (in shares)	1,936		1,994		1,946	[1]	2,022
Average Shares Outstanding, Assuming Dilution (in shares)	1,940		1,999		1,950	[1]	2,027

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

CONDENSED CONSOLIDATED COMPREHE

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENTS (Unaudited) - USD ($) $ in Millions

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Statement of Comprehensive Income [Abstract]

Total Comprehensive Earnings (Note 10)

$ 895

[1]

$ 966

[1]

$ 886

[1]

$ 997

$ 846

[2]

$ 980

[2]

$ 976

[2]

$ 1,956

$ 2,747

[3]

$ 2,802

[3]

$ 3,799

$ 4,080

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024		Dec. 31, 2023	[2]
Current Assets:
Cash and Cash Equivalents	$ 1,644	[1]	$ 1,353
Short-term Investments (Note 9)	12		83
Accounts Receivable - Net (Note 8)	1,413		1,393
Materials and Supplies	415		440
Other Current Assets	93		90
Total Current Assets	3,577		3,359
Properties	51,503		50,281
Accumulated Depreciation	(16,333)		(15,560)
Properties - Net	35,170		34,721
Investment in Affiliates and Other Companies	2,485		2,397
Right-of-Use Lease Asset	498		498
Goodwill and Other Intangible Assets - Net	544		506
Other Long-term Assets	795		731
Total Assets	43,069		42,212
Current Liabilities:
Accounts Payable	1,301		1,237
Labor and Fringe Benefits Payable	470		517
Casualty, Environmental and Other Reserves (Note 4)	147		144
Current Maturities of Long-term Debt (Note 7)	6		558
Income and Other Taxes Payable	379		524
Other Current Liabilities	266		243
Total Current Liabilities	2,569		3,223
Casualty, Environmental and Other Reserves (Note 4)	309		296
Long-term Debt (Note 7)	18,535		17,975
Deferred Income Taxes - Net	7,721		7,699
Long-term Lease Liability	494		491
Other Long-term Liabilities	505		543
Total Liabilities	30,133		30,227
Shareholders' Equity:
Common Stock, $1 Par Value	1,928		1,959
Other Capital	815		691
Retained Earnings	10,457		9,609
Accumulated Other Comprehensive Loss (Note 10)	(269)		(279)
Non-controlling Minority Interest	5		5
Total Shareholders' Equity	12,936	[3]	11,985
Total Liabilities and Shareholders' Equity	$ 43,069		$ 42,212

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Shareholders' Equity:
Common stock, par value (in dollars per share)	$ 1	$ 1

CONSOLIDATED CASH FLOW STATEMEN

CONSOLIDATED CASH FLOW STATEMENTS (Unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024		Sep. 30, 2023
OPERATING ACTIVITIES
Net Earnings	[1]	$ 2,737		$ 2,786
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization	[1]	1,236		1,202
Deferred Income Taxes	[2]	19		97
Gains on Property Dispositions		(8)	[2]	(26)	[1]
Other Operating Activities	[2]	(35)		67
Changes in Operating Assets and Liabilities:
Accounts Receivable	[2]	7		(65)
Other Current Assets	[2]	27		(84)
Accounts Payable	[2]	57		52
Income and Other Taxes Payable	[2]	(148)		267
Other Current Liabilities	[2]	(33)		(271)
Net Cash Provided by Operating Activities	[2]	3,859		4,025
INVESTING ACTIVITIES
Property Additions	[2]	(1,691)		(1,571)
Purchases of Short-term Investments	[2]	0		(103)
Proceeds from Sales of Short-term Investments	[2]	81		153
Proceeds and Advances from Property Dispositions	[2]	50		65
Business Acquisition, Net of Cash Acquired	[2]	(68)		(31)
Other Investing Activities	[2]	(94)		(19)
Net Cash Used In Investing Activities	[2]	(1,722)		(1,506)
FINANCING ACTIVITIES
Shares Repurchased	[2]	(1,212)		(2,901)
Dividends Paid	[2]	(700)		(666)
Long-term Debt Repaid (Note 7)	[2]	(556)		(150)
Long-term Debt Issued (Note 7)	[2]	550		600
Other Financing Activities	[2]	72		25
Net Cash Used in Financing Activities	[2]	(1,846)		(3,092)
Net Increase (Decrease) in Cash and Cash Equivalents	[2]	291		(573)
CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents at Beginning of Period		1,353	[3]	1,933	[2]
Cash and Cash Equivalents at End of Period	[2]	$ 1,644		$ 1,360

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions		Total		Common Shares Outstanding (Thousands)	Common Stock and Other Capital	Retained Earnings		Accumulated Other Comprehensive (Loss) Income		Non-controlling Minority Interest
Beginning Balance at Dec. 31, 2021		$ 13,451				$ 11,549		$ (376)
Comprehensive Earnings:
Net Earnings		4,114				4,114
Other Comprehensive Income		(34)						(34)
Total Comprehensive Earnings (Note 10)		4,080
Stock Option Exercises and Other		99				(2)
Ending balance (in shares) at Dec. 31, 2022				2,066,367
Ending Balance at Dec. 31, 2022		12,469	[1]		$ 2,640	10,229	[1]	(410)	[1],[2]	$ 10
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								129
Net Earnings	[1]	974				974
Other Comprehensive Income	[1]	2						2	[2]
Total Comprehensive Earnings (Note 10)	[1]	976
Common stock dividends, per share	[1]	(226)				(226)
Share Repurchases (in shares)				(35,157)
Share Repurchases		(1,067)	[1]		(35)	(1,032)	[1]
Excise Tax on Net Share Repurchases	[1]	(10)				(10)
Stock Option Exercises and Other (in shares)				1,865
Stock Option Exercises and Other		13	[1]		15					(2)
Ending balance (in shares) at Mar. 31, 2023				2,033,075
Ending Balance at Mar. 31, 2023		12,155	[1]		2,620	9,935	[1]	(408)	[1],[2]	8
Beginning Balance (in shares) at Dec. 31, 2022				2,066,367
Beginning Balance at Dec. 31, 2022		12,469	[1]		2,640	10,229	[1]	(410)	[1],[2]	10
Comprehensive Earnings:
Net Earnings		1,958
Total Comprehensive Earnings (Note 10)		1,956
Ending balance (in shares) at Jun. 30, 2023				2,006,353
Ending Balance at Jun. 30, 2023		12,074	[1]		2,630	9,852	[1]	(412)	[1],[2]	4
Beginning Balance (in shares) at Dec. 31, 2022				2,066,367
Beginning Balance at Dec. 31, 2022		12,469	[1]		2,640	10,229	[1]	(410)	[1],[2]	10
Comprehensive Earnings:
Net Earnings	[3]	2,786
Total Comprehensive Earnings (Note 10)	[3]	$ 2,802
Share Repurchases (in shares)		(94,000)
Ending balance (in shares) at Sep. 30, 2023				1,976,132
Ending Balance at Sep. 30, 2023		$ 11,756	[1]		2,633	9,513	[1]	(394)	[1],[2]	4
Beginning Balance (in shares) at Dec. 31, 2022				2,066,367
Beginning Balance at Dec. 31, 2022		12,469	[1]		2,640	10,229	[1]	(410)	[1],[2]	10
Comprehensive Earnings:
Net Earnings		3,668				3,668
Other Comprehensive Income		131						131
Total Comprehensive Earnings (Note 10)		3,799
Ending balance (in shares) at Dec. 31, 2023				1,958,757
Ending Balance at Dec. 31, 2023		11,985	[4]		2,650	9,609	[5]	(279)	[5],[6]	5
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								128
Beginning Balance (in shares) at Mar. 31, 2023				2,033,075
Beginning Balance at Mar. 31, 2023		12,155	[1]		2,620	9,935	[1]	(408)	[1],[2]	8
Comprehensive Earnings:
Net Earnings	[1]	984				984
Other Comprehensive Income	[1]	(4)						(4)	[2]
Total Comprehensive Earnings (Note 10)	[1]	980
Common stock dividends, per share	[1]	(222)				(222)
Share Repurchases (in shares)				(27,434)
Share Repurchases		(863)	[1]		(28)	(835)	[1]
Excise Tax on Net Share Repurchases	[1]	(9)				(9)
Stock Option Exercises and Other (in shares)				712
Stock Option Exercises and Other		33	[1]		38	(1)	[1]			(4)
Ending balance (in shares) at Jun. 30, 2023				2,006,353
Ending Balance at Jun. 30, 2023		12,074	[1]		2,630	9,852	[1]	(412)	[1],[2]	4
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								114
Net Earnings		828	[3]			828	[1]
Other Comprehensive Income	[1]	18						18	[2]
Total Comprehensive Earnings (Note 10)	[1]	846
Common stock dividends, per share	[1]	$ (218)				(218)
Share Repurchases (in shares)		(31,000)		(31,018)
Share Repurchases		$ (971)	[1]		(31)	(940)	[1]
Excise Tax on Net Share Repurchases	[1]	(9)				(9)
Stock Option Exercises and Other (in shares)				797
Stock Option Exercises and Other		34	[1]		34
Ending balance (in shares) at Sep. 30, 2023				1,976,132
Ending Balance at Sep. 30, 2023		11,756	[1]		2,633	9,513	[1]	(394)	[1],[2]	4
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								108
Net Earnings		882
Total Comprehensive Earnings (Note 10)		997
Ending balance (in shares) at Dec. 31, 2023				1,958,757
Ending Balance at Dec. 31, 2023		11,985	[4]		2,650	9,609	[5]	(279)	[5],[6]	5
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								74
Net Earnings	[5]	880				880
Other Comprehensive Income	[5]	6						6	[6]
Total Comprehensive Earnings (Note 10)	[5]	886
Common stock dividends, per share	[5]	(235)				(235)
Share Repurchases (in shares)				(6,789)
Share Repurchases		(247)	[5]		(7)	(240)	[5]
Excise Tax on Net Share Repurchases	[5]	(1)				(1)
Stock Option Exercises and Other (in shares)				2,961
Stock Option Exercises and Other		53	[5]		55	(2)	[5]
Ending balance (in shares) at Mar. 31, 2024				1,954,929
Ending Balance at Mar. 31, 2024		12,441	[5]		2,698	10,011	[5]	(273)	[5],[6]	5
Beginning Balance (in shares) at Dec. 31, 2023				1,958,757
Beginning Balance at Dec. 31, 2023		11,985	[4]		2,650	9,609	[5]	(279)	[5],[6]	5
Comprehensive Earnings:
Net Earnings	[3]	2,737
Other Comprehensive Income		10
Total Comprehensive Earnings (Note 10)	[3]	$ 2,747
Share Repurchases (in shares)		(35,000)
Ending balance (in shares) at Sep. 30, 2024				1,928,423
Ending Balance at Sep. 30, 2024		$ 12,936	[5]		2,743	10,457	[5]	(269)	[5],[6]	5
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								72
Beginning Balance (in shares) at Mar. 31, 2024				1,954,929
Beginning Balance at Mar. 31, 2024		12,441	[5]		2,698	10,011	[5]	(273)	[5],[6]	5
Comprehensive Earnings:
Net Earnings	[5]	963				963
Other Comprehensive Income	[5]	3						3	[6]
Total Comprehensive Earnings (Note 10)	[5]	966
Common stock dividends, per share	[5]	(233)				(233)
Share Repurchases (in shares)				(16,308)
Share Repurchases		(563)	[5]		(16)	(547)	[5]
Excise Tax on Net Share Repurchases	[5]	(6)				(6)
Stock Option Exercises and Other (in shares)				124
Stock Option Exercises and Other		15	[5]		15	1	[5]			(1)
Ending balance (in shares) at Jun. 30, 2024				1,938,745
Ending Balance at Jun. 30, 2024		12,620	[5]		2,697	10,189	[5]	(270)	[5],[6]	4
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								72
Net Earnings	[5]	894				894
Other Comprehensive Income	[5]	1						1	[6]
Total Comprehensive Earnings (Note 10)	[5]	895
Common stock dividends, per share	[5]	$ (232)				(232)
Share Repurchases (in shares)		(12,000)		(11,925)
Share Repurchases		$ (402)	[5]		(12)	(390)	[5]
Excise Tax on Net Share Repurchases	[5]	(4)				(4)
Stock Option Exercises and Other (in shares)				1,603
Stock Option Exercises and Other		59	[5]		58					1
Ending balance (in shares) at Sep. 30, 2024				1,928,423
Ending Balance at Sep. 30, 2024		$ 12,936	[5]		$ 2,743	$ 10,457	[5]	(269)	[5],[6]	$ 5
Comprehensive Earnings:
Associated tax of accumulated other comprehensive loss balances								$ 71

[1]See Note 11, Revision of Prior Period Financial Statements.[2]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $129 million as of December 31, 2022, $128 million as of March 31, 2023, $114 million as of June 30, 2023 and $108 million as of September 30, 2023. For additional information, see Note 10, Other Comprehensive Income.[3]See Note 11, Revision of Prior Period Financial Statements.[4]See Note 11, Revision of Prior Period Financial Statements.[5]See Note 11, Revision of Prior Period Financial Statements.[6]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $74 million as of December 31, 2023, $72 million as of March 31, 2024, $72 million as of June 30, 2024 and $71 million as of September 30, 2024. For additional information, see Note 10, Other Comprehensive Income.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.12	$ 0.12	$ 0.12	$ 0.11	$ 0.11	$ 0.11

Nature of Operations and Signif

Nature of Operations and Significant Accounting Policies	9 Months Ended
Nature of Operations and Significant Accounting Policies	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Significant Accounting Policies	Nature of Operations and Significant Accounting Policies Background CSX Corporation together with its subsidiaries ("CSX" or the “Company”), based in Jacksonville, Florida, is one of the nation's leading transportation companies. The Company provides rail-based transportation services including traditional rail service, the transport of intermodal containers and trailers, as well as other transportation services such as rail-to-truck transfers and bulk commodity operations. CSX's principal operating subsidiary, CSX Transportation, Inc. (“CSXT”), provides an important link to the transportation supply chain through its approximately 20,000 route-mile rail network and serves major population centers in 26 states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. The Company's intermodal business links customers to railroads via trucks and terminals. CSXT is also responsible for the Company's real estate sales, leasing, acquisition and management and development activities, substantially all of which are focused on supporting railroad operations. Other entities In addition to CSXT, the Company’s subsidiaries include Quality Carriers, Inc. ("Quality Carriers"), CSX Intermodal Terminals, Inc. (“CSX Intermodal Terminals”), Total Distribution Services, Inc. (“TDSI”), Transflo Terminal Services, Inc. (“Transflo”), CSX Technology, Inc. (“CSX Technology”) and other subsidiaries. Quality Carriers is the largest provider of bulk liquid chemicals truck transportation in North America. CSX Intermodal Terminals owns and operates a system of intermodal terminals, predominantly in the eastern United States and also performs drayage services (the pickup and delivery of intermodal shipments) for certain customers. TDSI serves the automotive industry with distribution centers and storage locations. Transflo connects non-rail served customers to the many benefits of rail by transferring products from rail to trucks. The biggest Transflo markets are chemicals and agriculture, which includes shipments of plastics and ethanol. CSX Technology and other subsidiaries provide support services for the Company. NOTE 1. Nature of Operations and Significant Accounting Policies, continued Basis of Presentation In the opinion of management, the accompanying consolidated financial statements contain all normal, recurring adjustments necessary to fairly present the consolidated financial statements and accompanying notes. Where applicable, prior year information has been reclassified to conform to the current presentation. Pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and disclosures normally included in the notes to the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted from these interim financial statements. CSX suggests that these financial statements be read in conjunction with the audited financial statements and the notes included in CSX's most recent annual report on Form 10-K and any subsequently filed current reports on Form 8-K. Fiscal Year The Company's fiscal periods are based upon the calendar year. Except as otherwise specified, references to “third quarter(s)” or “nine months” indicate CSX's fiscal periods ending September 30, 2024 and September 30, 2023, and references to "year-end" indicate the fiscal year ended December 31, 2023. New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Improvements to Reportable Segment Disclosures . This standard update requires additional interim and annual disclosures about a reportable segment’s expenses, even for companies with only one reportable segment. The Company is required to adopt the guidance for its 2024 annual report filed on Form 10-K. The Company is currently evaluating the impact of these amendments on its disclosures, but this standard update will not impact the Company's results of operations or financial position. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures . This standard update requires additional interim and annual disclosures about a company’s income taxes, including more detailed information around the annual rate reconciliation and income taxes paid. The Company is required to adopt the guidance for its 2025 annual report filed on Form 10-K, though early adoption is permitted. The Company is currently evaluating the impact of these amendments on its disclosures, but this standard update will not impact the Company's results of operations or financial position. Revision of Prior Period Financial Statements During second quarter 2024, CSX completed a review of the accounting treatment for engineering scrap and certain engineering support labor and identified misstatements between the balance sheet and operating expense in previously issued financial statements. The Company determined the impacts of these misstatements were immaterial to the financial statements for all prior periods identified. For comparative purposes, the Company has made corrections to the consolidated financial statements and applicable notes for the prior periods presented in this Form 10-Q. See Note 11, Revision of Prior Period Financial Statements,

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic earnings per share and earnings per share, assuming dilution. Third Quarters Nine Months 2024 2023 (a) 2024 (a) 2023 (a) Numerator (Dollars in Millions) : Net Earnings $ 894 $ 828 $ 2,737 $ 2,786 Denominator (Units in Millions) : Average Common Shares Outstanding 1,936 1,994 1,946 2,022 Other Potentially Dilutive Common Shares 4 5 4 5 Average Common Shares Outstanding, Assuming Dilution 1,940 1,999 1,950 2,027 Net Earnings Per Share, Basic $ 0.46 $ 0.42 $ 1.41 $ 1.38 Net Earnings Per Share, Assuming Dilution $ 0.46 $ 0.41 $ 1.40 $ 1.37 (a) See Note 11, Revision of Prior Period Financial Statements. Basic earnings per share is based on the weighted-average number of shares of common stock outstanding. Earnings per share, assuming dilution, is based on the weighted-average number of shares of common stock outstanding and common stock equivalents adjusted for the effects of common stock that may be issued as a result of potentially dilutive instruments. CSX's potentially dilutive instruments are made up of equity awards including employee stock options, performance units and restricted stock units. When calculating diluted earnings per share, the potential shares that would be outstanding if all outstanding stock options were exercised are included. This number is different from outstanding stock options because it is offset by shares CSX could repurchase using the proceeds from these hypothetical exercises to obtain the common stock equivalent. The total average outstanding stock options that were excluded from the diluted earnings per share calculation because their effect was antidilutive is in the table below. Third Quarters Nine Months 2024 2023 2024 2023 Antidilutive Stock Options Excluded from Diluted EPS (Units in Millions) 3 3 3 4 NOTE 2. Earnings Per Share, continued Share Repurchases During November 2023, the share repurchase program announced in July 2022 was completed and the Company began repurchasing shares under the $5 billion share repurchase program approved in October 2023. Total repurchase authority remaining was $3.6 billion as of September 30, 2024. Share repurchases may be made through a variety of methods including, but not limited to, open market purchases, purchases pursuant to Rule 10b5-1 plans, accelerated share repurchases and negotiated block purchases. The timing of share repurchases depends upon management's assessment of marketplace conditions and other factors, and the program remains subject to the discretion of the Board of Directors. Future share repurchases are expected to be funded by cash on hand, cash generated from operations and debt issuances. Shares are retired immediately upon repurchase. In accordance with the Equity Topic in the Accounting Standards Codification ("ASC"), the excess of repurchase price over par value is recorded in retained earnings. During third quarters and nine months ended September 30, 2024 and September 30, 2023, the Company engaged in the following repurchase activities: Third Quarters Nine Months 2024 2023 2024 2023 Shares Repurchased (Millions) 12 31 35 94 Cost of Shares (Dollars in Millions) $ 402 $ 971 $ 1,212 $ 2,901 The Inflation Reduction Act of 2022 imposes a nondeductible 1% excise tax on the net value of most share repurchases made after December 31, 2022. Excise tax commensurate with net share repurchases is reflected in equity and a corresponding liability for excise taxes payable is included in other current liabilities on the consolidated balance sheet. Amounts shown in the table above exclude the impact of this excise tax. Dividend Increase

Stock Plans and Share-Based Com

Stock Plans and Share-Based Compensation	9 Months Ended
Stock Plans and Share-Based Compensation	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Plans and Share-Based Compensation	Stock Plans and Share-Based Compensation Under CSX's share-based compensation plans, awards consist of performance units, stock options and restricted stock units for management and stock grants for directors. Share-based compensation expense for awards under share-based compensation plans is measured using the fair value of the award on the grant date and is recognized on a straight-line basis over the service period of the respective award. Alternatively, expense is recognized upon death or over an accelerated service period for employees whose agreements allow for continued vesting upon retirement or separation. Forfeitures are recognized as they occur. 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. Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Share-Based Compensation Expense: Restricted Stock Units $ 7 $ 5 $ 21 $ 14 Performance units 4 5 7 14 Stock Options 3 3 9 9 Employee Stock Purchase Plans 2 2 6 6 Stock Awards for Directors — — 2 2 Total Share-Based Compensation Expense $ 16 $ 15 $ 45 $ 45 Income Tax Benefit $ 4 $ 3 $ 12 $ 10 Long-term Incentive Plan In February 2024, the Company granted the following awards under a new long-term incentive plan ("LTIP") for the years 2024 through 2026, which was adopted under the CSX 2019 Stock and Incentive Award Plan. Granted (Thousands) Weighted Avg. Fair Value Performance Units 605 $ 38.66 Restricted Stock Units 601 36.72 Stock Options 957 11.57 NOTE 3. Stock Plans and Share-Based Compensation, continued Performance Units Units vest approximately three years after grant. Payouts will be made in CSX common stock with a payout range for most participants between 0% and 200% of the target awards depending on Company performance against predetermined goals. Payouts for certain executive officers are subject to formulaic upward or downward adjustment by up to 25%, capped at an overall payout of 250%, based upon the Company's total shareholder return relative to specified comparable groups over the performance period. The fair values of performance units granted to certain executive officers were calculated using a Monte-Carlo simulation model. Measurement against goals related to both average annual operating income growth and Economic Profit (CSX Cash Earnings or CCE), in each case excluding non-recurring items as defined in the plan, will each comprise 50% of the payout. As defined under the plan, Economic Profit incentivizes strategic investments earning more than management's desired minimum required return and is calculated as CSX’s gross cash earnings minus the capital charge on gross operating assets. Stock Options Stock options were granted with ten-year terms and vest over three years in equal installments each year on the anniversary of the grant date. These awards are time-based and are not based upon attainment of performance goals. The fair values of stock option awards were estimated at the grant date using the Black-Scholes valuation model. Restricted Stock Units The restricted stock units awarded vest over three years in equal installments each year on the anniversary of the grant date and are settled in CSX common stock on a one-for-one basis. These awards are time-based and are not based upon CSX's attainment of performance goals. For more information related to the Company's outstanding long-term incentive compensation, see CSX's most recent annual report on Form 10-K.

Casualty, Environmental and Oth

Casualty, Environmental and Other Reserves	9 Months Ended
Casualty, Environmental and Other Reserves	Sep. 30, 2024
Casualty, Environmental and Other Reserves [Abstract]
Casualty, Environmental and Other Reserves	Casualty, Environmental and Other Reserves Personal injury and environmental reserves are considered critical accounting estimates due to the need for management judgment. Casualty, environmental and other reserves are provided for in the consolidated balance sheets as shown in the table below. September 30, 2024 December 31, 2023 (Dollars in Millions) Current Long-term Total Current Long-term Total Casualty: Personal Injury $ 51 $ 91 $ 142 $ 45 $ 83 $ 128 Occupational 11 58 69 7 60 67 Total Casualty 62 149 211 52 143 195 Environmental 36 111 147 41 113 154 Other 49 49 98 51 40 91 Total $ 147 $ 309 $ 456 $ 144 $ 296 $ 440 These liabilities are accrued when probable and reasonably estimable in accordance with the Contingencies Topic in the ASC. Actual settlements and claims received could differ, and final outcomes of these matters cannot be predicted with certainty. Considering the legal defenses currently available, the liabilities that have been recorded and other factors, it is the opinion of management that none of these items individually, when finally resolved, will have a material adverse effect on the Company's financial condition, results of operations or liquidity. Should a number of these items occur in the same period, however, their combined effect could be material in that particular period. Casualty Casualty reserves represent accruals for personal injury, occupational disease and occupational injury claims primarily related to railroad operations. The Company's self-insured retention amount for casualty claims is $100 million per occurrence as discussed at Note 5, Commitments and Contingencies . Currently, no individual claim is expected to exceed the self-insured retention amount. Personal Injury Personal injury reserves represent liabilities for employee work-related and third-party injuries. Work-related injuries for CSXT employees are primarily subject to the Federal Employers’ Liability Act (“FELA”). CSXT retains an independent actuary to assist management in assessing the value of personal injury claims. An analysis is performed by the actuary quarterly and is reviewed by management. This analysis did not result in a material adjustment to the personal injury reserve in the quarters and nine months ended September 30, 2024, or September 30, 2023. NOTE 4. Casualty, Environmental and Other Reserves, continued Occupational Occupational reserves represent liabilities arising from allegations of exposure to certain materials in the workplace (such as solvents, soaps, chemicals and diesel fumes), past exposure to asbestos or allegations of chronic physical injuries resulting from work conditions (such as repetitive stress injuries). The Company retains an independent actuary to analyze the Company’s historical claim filings, settlement amounts, and dismissal rates to assist in determining future anticipated claim filing rates and average settlement values. This analysis is performed by the actuary and reviewed by management quarterly. The analysis did not result in a material adjustment to the occupational reserve in the quarters and nine months ended September 30, 2024, or September 30, 2023. Environmental The Company is a party to various proceedings related to environmental issues, including administrative and judicial proceedings involving private parties and regulatory agencies. The Company has been identified as a potentially responsible party at approximately 230 environmentally impaired sites. Many of these are, or may be, subject to remedial action under the federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 ("CERCLA"), also known as the Superfund Law, or similar state statutes. Most of these proceedings arose from environmental conditions on properties used for ongoing or discontinued railroad operations. A number o f these proceedings, however, are based on allegations that the Company, or its predecessors, sent hazardous substances to facilities owned or operated by others for treatment, recycling or disposal. In addition, some of the Company's land holdings were leased to others for commercial or industrial uses that may have resulted in releases of hazardous substances or other regulated materials onto the property and could give rise to proceedings against the Company. In any such proceedings, the Company is subject to environmental clean-up and enforcement actions under the Superfund Law, as well as similar state laws that may impose joint and several liability for clean-up and enforcement costs on current and former owners and operators of a site without regard to fault or the legality of the original conduct. These costs could be substantial. The Company reviews its role with respect to each site identified at least quarterly. Based on management's review process, amounts have been recorded to cover contingent anticipated future environmental remediation costs with respect to each site to the extent such costs are reasonably estimable and probable. Payments related to these liabilities are expected to be made over the next several years. Environmental remediation costs are included in purchased services and other on the consolidated income statements. Currently, the Company does not possess sufficient information to reasonably estimate the amounts of additional liabilities, if any, on some sites until completion of future environmental studies. In addition, conditions that are currently unknown could, at any given location, result in additional exposure, the amount and materiality of which cannot presently be reasonably estimated. Based upon information currently available, however, the Company believes its environmental reserves accurately reflect the estimated cost of remedial actions currently required. Other Other reserves include liabilities for various claims, such as automobile, property, general liability, workers' compensation and longshoremen disability claims.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance The Company maintains insurance programs with substantial limits for property damage, including resulting business interruption, as well as casualty claims, which includes third-party liability. A certain amount of risk is retained by the Company on each insurance program. Under its property insurance program, the Company retains all risk up to $150 million per occurrence for losses from floods and named windstorms and up to $125 million per occurrence for other property losses. For casualty claims, the Company retains all risk up to $100 million per occurrence. As CSX negotiates insurance coverage above its full self-retention amounts, it retains a percentage of risk at various layers of coverage. While the Company believes its insurance coverage is adequate, future claims could exceed existing insurance coverage or insurance may not continue to be available at commercially reasonable rates. Legal The Company is involved in litigation incidental to its business and is a party to a number of legal actions and claims, various governmental proceedings and private civil lawsuits, including, but not limited to, those related to fuel surcharge practices, tax matters, environmental and hazardous material exposure matters, FELA and labor claims by current or former employees, other personal injury or property claims and disputes and complaints involving certain transportation rates and charges. Some of the legal proceedings include claims for compensatory as well as punitive damages and others are, or are purported to be, class actions. While the final outcomes of these matters cannot be predicted with certainty, considering, among other things, the legal defenses available and liabilities that have been recorded along with applicable insurance, it is currently the opinion of management that none of these pending items is likely to have a material adverse effect on the Company's financial condition, results of operations or liquidity. An unexpected adverse resolution of one or more of these items, however, could have a material adverse effect on the Company's financial condition, results of operations or liquidity in that particular period. The Company is able to estimate a range of possible loss for certain matters for which a loss is reasonably possible in excess of reserves established. The Company has estimated this range to be $3 million to $67 million in the aggregate at September 30, 2024. This estimated aggregate range is based upon currently available information and is subject to significant judgment and a variety of assumptions. Accordingly, the Company's estimate will change from time to time, and actual losses may vary significantly from the current estimate. NOTE 5. Commitments and Contingencies, continued Fuel Surcharge Antitrust Litigation In May 2007, class action lawsuits were filed against CSXT and three oth er U.S.-based Class I railroads alleging that the defendants' fuel surcharge practices relating to contract and unregulated traffic resulted from an illegal conspiracy in violation of antitrust laws. The class action lawsuits were transferred to federal court in the District of Columbia for coordinated or consolidated pre-trial proceedings. In 2017, the District Court issued its decision denying class certification. On August 16, 2019, the U.S. Court of Appeals for the D.C. Circuit affirmed the District Court’s ruling. Although the class was not certified, individual shippers have since brought claims against the railroads, which were also transferred to federal court in the District of Columbia for pre-trial proceedings but before a different judge. In March 2024, the original case was reassigned to the judge in the later-filed case who will now preside over all pre-trial proceedings. The railroads filed motions for summary judgment on July 17, 2024 with briefing to be completed by year-end. CSXT believes that its fuel surcharge practices were arrived at and applied lawfully and that the case is without merit. Accordingly, the Company intends to defend itself vigorously. However, penalties for violating antitrust laws can be severe, and resolution of these matters individually or when aggregated could have a material adverse effect on the Company's financial condition, results of operations or liquidity in that particular period. Environmental CSXT is indemnifying Pharmacia LLC, formerly known as Monsanto Company, ("Pharmacia") for certain liabilities associated with real estate located in Kearny, New Jersey along the Lower Passaic River (the “Property”). The Property, which was formerly owned by Pharmacia, is now owned by CSXT. CSXT's indemnification and defense duties arise with respect to several matters. The U.S. Environmental Protection Agency ("EPA"), using its CERCLA authority, seeks the investigation and cleanup of hazardous substances in the 17-mile Lower Passaic River Study Area (the "Study Area”). CSXT, on behalf of Pharmacia, and a significant number of other potentially responsible parties are together conducting a Remedial Investigation and Feasibility Study of the Study Area pursuant to an Administrative Settlement Agreement and Order on Consent with the EPA. Pharmacia’s share of responsibility, indemnified by CSXT, for the investigation and cleanup costs of the Study Area may be determined through various mechanisms including (a) an allocation and settlement with EPA; (b) litigation brought by EPA against non-settling parties; or (c) litigation among the responsible parties. For the lower eight miles of the Study Area, EPA issued its Record of Decision detailing the agency’s mandated remedial process in March 2016. Occidental Chemical Corporation ("Occidental") performed the remedial design for the lower eight-mile portion of the Study Area pursuant to a consent order with EPA. EPA approved the design in May 2024. For the remaining upper nine miles of the Study Area, EPA selected an interim remedy in a Record of Decision dated September 28, 2021. On March 2, 2023, EPA issued an administrative order requiring Occidental to design the interim remedy for the upper nine miles of the Study Area. Potentially responsible parties, including Pharmacia, are participating in an EPA-directed allocation and settlement process to assign responsibility related to the lower river and the entire Study Area, respectively. CSXT participated in the EPA-directed allocation and settlement process on behalf of Pharmacia. NOTE 5. Commitments and Contingencies, continued On March 2, 2022, EPA issued a Notice Letter to Pharmacia, Occidental and eight other parties alleging they are liable under Section 107(a) of CERCLA for releases or threatened releases of hazardous substances and requesting each party, individually or collectively, submit good faith offers to EPA in connection with the entire Study Area. CSXT, on behalf of Pharmacia, responded to the Notice Letter and submitted a good faith offer to EPA on June 27, 2022, following meetings with a mediator from EPA’s Conflict Prevention and Resolution Center. On November 21, 2023, EPA notified the United States District Court for the District of New Jersey that it intended to move to enter a Consent Decree ("CD") with a group of potentially responsible parties. On January 31, 2024, EPA filed a motion to enter a modified CD with 82 potentially responsible parties, requiring payment of $150 million to resolve their liability with respect to the entire Study Area. Pharmacia is not a participant in the CD settlement. On April 1, 2024, Occidental filed its opposition to EPA's motion to enter the CD. Several other non-settling parties, including Pharmacia, filed comments concerning (but not opposing) entry of the CD. Negotiations with EPA and other parties to resolve Pharmacia's liability continue. CSXT is also defending and indemnifying Pharmacia with regard to the Property in litigation filed by Occidental, which is seeking to recover its past and future costs associated with the remediation of the entire Study Area. Alternatively, Occidental seeks to compel some, or all, of the defendants to participate in the remediation of the Study Area. Pharmacia is one of approximately 110 defendants in a federal lawsuit filed by Occidental on June 30, 2018, and one of 37 defendants in a federal lawsuit filed by Occidental on March 24, 2023. Both of these lawsuits are stayed pending resolution of the CD action. CSXT is also defending and indemnifying Pharmacia in a cooperative natural resource damages assessment process related to the Property. Based on currently available information, the Company does not believe its share of remediation costs as determined by the EPA-directed allocation with respect to the Property and the Study Area would be material to the Company's financial condition, results of operations or liquidity. Regulatory In October 2024, the Company received a subpoena from the Enforcement Division of the U.S. Securities and Exchange Commission ("SEC") requesting information relating to, among other things, the accounting restatement disclosed in the Company’s August 5, 2024 10-Q. The Company has also been responding to information requests by the SEC related to certain of the Company’s non-financial performance metrics. The Company is cooperating with the SEC and providing information responsive to these requests. While the Company believes its reporting complied with applicable requirements in all material respects, the Company cannot anticipate the timing, scope, outcome or possible impact of the investigation, financial or otherwise.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Sep. 30, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors defined benefit pension plans principally for salaried, management personnel. The CSX Pension Plan, the largest plan based on benefit obligation, was closed to new participants in 2020. 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 Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Service Cost Included in Labor and Fringe $ 6 $ 6 $ 18 $ 18 Interest Cost 27 28 80 84 Expected Return on Plan Assets (42) (41) (127) (123) Amortization of Net Loss 5 7 14 21 Total Included in Other Income - Net (10) (6) (33) (18) Net Periodic Benefit Credit $ (4) $ — $ (15) $ —

Debt and Credit Agreements

Debt and Credit Agreements	9 Months Ended
Debt and Credit Agreements	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt and Credit Agreements	Debt and Credit Agreements Total activity related to long-term debt as of the end of third quarter 2024 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 9, Fair Value Measurements . (Dollars in Millions) Current Portion Long-term Portion Total Long-term Debt as of December 31, 2023 $ 558 $ 17,975 $ 18,533 2024 Activity: Long-term Debt Issued — 550 550 Long-term Debt Repaid (556) — (556) Reclassifications 4 (4) — Hedging, Discount, Premium and Other Activity — 14 14 Long-term Debt as of September 30, 2024 $ 6 $ 18,535 $ 18,541 Debt Issuance On September 18, 2024, CSX issued $550 million of 4.90% notes due 2055. These notes are included in the consolidated balance sheets under long-term debt and may be redeemed by the Company at any time, subject to payment of certain make-whole premiums. The net proceeds will be used for general corporate purposes, which may include debt repayments, repurchases of CSX's common stock, capital investment and working capital requirements. Interest Rate Derivatives Fair Value Hedges In fourth quarter 2023, CSX entered into two separate fixed-to-floating interest rate swaps classified as fair value hedges. The swaps are designed to hedge 10 years of interest rate risk associated with market fluctuations attributable to the Secured Overnight Financing Rate ("SOFR") on a cumulative $250 million of fixed rate outstanding notes which are due in 2033. The cumulative fair value of these swaps, which is included in other long-term assets on the consolidated balance sheet, was an asset of $21 million and $19 million as of September 30, 2024 and December 31, 2023, respectively. In first quarter 2022, CSX entered into five separate fixed-to-floating interest rate swaps classified as fair value hedges. The swaps are designed to hedge 10 years of interest rate risk associated with market fluctuations attributable to the SOFR on a cumulative $800 million of fixed rate outstanding notes which are due between 2036 and 2040. The cumulative fair value of these swaps, which is included in other long-term liabilities on the consolidated balance sheet, was a liability of $99 million and $107 million as of September 30, 2024 and December 31, 2023, respectively. NOTE 7. Debt and Credit Agreements , continued The 2022 swaps will expire in 2032 and the 2023 swaps will expire in 2033. If settled early, the remaining cumulative fair value adjustment to the hedged notes will be amortized over the remaining life of the associated notes. The cumulative adjustment to the hedged notes is included in long-term debt on the consolidated balance sheet as shown in the following table below. (Dollars in Millions) September 30, 2024 December 31, 2023 Notional Value of Hedged Notes $ 1,050 $ 1,050 Fair Value Asset Adjustment to Hedged Notes 21 19 Fair Value Liability Adjustment to Hedged Notes (99) (107) Carrying Amount of Hedged Notes $ 972 $ 962 Gains and losses resulting from changes in fair value of the interest rate swaps offset changes in the fair value of the hedged portion of the underlying debt with no gain or loss recognized due to hedge ineffectiveness. The difference in the net fixed-to-float interest settlement on the derivatives is recognized in interest expense and is summarized as follows. Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Interest Expense Impact (Increase) Decrease $ (8) $ (7) $ (24) $ (19) Cash Flow Hedges The Company had forward starting interest rate swaps, classified as cash flow hedges, that had an aggregate notional value of $500 million at inception. These swaps were effected to hedge the benchmark interest rate associated with future interest payments related to the anticipated refinancing of $850 million of 3.25% notes due in 2027. In accordance with the Derivatives and Hedging Topic in the ASC, the Company has designated these swaps as cash flow hedges. Under the terms of the Adjustable Interest Rate (LIBOR) Act, the reference rate on the swaps were automatically replaced with daily compounded SOFR plus the fallback spread on July 1, 2023, the LIBOR replacement date. As of December 31, 2023, the asset value of the forward starting interest rate swaps was $48 million and was recorded in other long-term assets on the consolidated balance sheet. Unrealized gains or losses associated with changes in the fair value of the hedge are recorded net of tax in accumulated other comprehensive income ("AOCI") on the consolidated balance sheet. In fourth quarter 2022, CSX settled a portion equal to $160 million notional value of the cash flow hedges, which resulted in CSX receiving a cash payment of $52 million. In second quarter 2023, CSX executed a partial settlement equal to $113 million notional value of the cash flow hedges, which resulted in CSX receiving a cash payment of $44 million. In third quarter 2023, CSX partially settled an additional $113 million notional value of the cash flow hedges and received a cash payment of $51 million. The unsettled aggregate notional value of these swaps was $114 million as of December 31, 2023. In second quarter 2024, CSX executed a final settlement equal to $114 million notional value of the cash flow hedges, which resulted in CSX receiving a cash payment of $52 million included in other operating activities on the consolidated cash flow statement. As of September 30, 2024, no unsettled aggregate notional value of these swaps remains and there is no related asset or liability. NOTE 7. Debt and Credit Agreements , continued The unrealized gain associated with the settled portion of the hedges will continue to be classified in AOCI until the associated debt instrument is issued in the future. The unrealized gain or loss in AOCI will be recognized in earnings as an adjustment to interest expense over the same period during which the hedged transaction affects earnings. Unrealized amounts related to the hedge, recorded net of tax in other comprehensive income, are summarized in the table below. Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Unrealized Gain - Net $ — $ 14 $ 3 $ 4 See Note 9, Fair Value Measurements , and Note 10, Other Comprehensive Income (Loss) , for additional information about the Company's hedges. Credit Facility The Company has a $1.2 billion unsecured revolving credit facility backed by a diverse syndicate of banks. This facility allows same-day borrowings at floating interest rates, based on SOFR or an agreed-upon replacement reference rate, plus a spread that depends upon CSX's senior unsecured debt ratings. This facility expires in February 2028. As of September 30, 2024, the Company had no outstanding balances under this facility. Commitment fees and interest rates payable under the facility were similar to fees and rates available to comparably rated investment-grade borrowers. As of third quarter 2024, CSX was in compliance with all covenant requirements under this facility. Commercial Paper Under its commercial paper program, which is backed by the revolving credit facility, the Company may issue unsecured commercial paper notes up to a maximum aggregate principal amount of $1.0 billion outstanding at any one time. Proceeds from issuances of the notes are expected to be used for general corporate purposes. At September 30, 2024, the Company had no outstanding debt under the commercial paper program.

Revenues

Revenues	9 Months Ended
Revenues	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The Company’s revenues are primarily derived from the transportation of freight as performance obligations that arise from its contracts with customers are satisfied. The following table presents the Company’s revenues disaggregated by market as this best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors: Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Chemicals $ 727 $ 646 $ 2,142 $ 1,938 Agricultural and Food Products 416 376 1,229 1,228 Automotive 301 308 930 905 Forest Products 259 243 790 761 Metals and Equipment 208 225 658 704 Minerals 202 190 583 554 Fertilizers 118 124 380 381 Total Merchandise 2,231 2,112 6,712 6,471 Coal 553 594 1,748 1,864 Intermodal 509 517 1,521 1,508 Trucking 214 218 650 678 Other 112 131 370 456 Total $ 3,619 $ 3,572 $ 11,001 $ 10,977 The Company’s accounts receivable - net consists of freight and non-freight receivables, reduced by an allowance for credit losses. Freight receivables include amounts earned, billed and unbilled , and currently due from customers for transportation-related services. Non-freight receivables include amounts billed and unbilled and currently due related to government reimbursement receivables and other non-revenue receivables. (Dollars in Millions) September 30, December 31, Freight Receivables $ 1,045 $ 1,047 Freight Allowance for Credit Losses (17) (18) Freight Receivables - Net 1,028 1,029 Non-Freight Receivables 398 378 Non-Freight Allowance for Credit Losses (13) (14) Non-Freight Receivables - Net 385 364 Total Accounts Receivable - Net $ 1,413 $ 1,393 The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of risk characteristics, historical payment experience, and the age of outstanding receivables adjusted for forward-looking economic conditions as necessary. Credit losses recognized on the Company’s accounts receivable were not material in the third quarters or nine months ended September 30, 2024, and 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Investments The Company's investment assets are carried at fair value on the consolidated balance sheet in accordance with the Fair Value Measurements and Disclosures Topic in the ASC. They are valued with assistance from a third-party trustee and consist of fixed income mutual funds, exchange-traded funds, corporate bonds, asset-backed securities and government securities. The fixed income mutual funds are valued at the net asset value of shares held based on quoted market prices determined in an active market, which are Level 1 inputs. The exchange-traded funds are valued at quoted market prices determined in an active market, which are Level 1 inputs. The corporate bonds, asset-backed securities and government securities are valued using broker quotes that utilize observable market inputs, which are Level 2 inputs. Unrealized gains as of September 30, 2024, and unrealized losses as of September 30, 2023, were not material. The Company believes any impairment of investments held with gross unrealized losses to be temporary and not the result of credit risk. The Company's investment assets are carried at fair value on the consolidated balance sheets, within the line items Short-term Investments and Other Long-term Assets, as summarized in the following table. September 30, 2024 December 31, 2023 (Dollars in Millions) Level 1 Level 2 Total Level 1 Level 2 Total Fixed Income Mutual Funds $ — $ — $ — $ 80 $ — $ 80 Exchange-traded Funds 2 — 2 — — — Corporate Bonds — 76 76 — 60 60 Asset-backed Securities — 28 28 — 1 1 Government Securities — 40 40 — 40 40 Total Investments at Fair Value $ 2 $ 144 $ 146 $ 80 $ 101 $ 181 Total Investments at Amortized Cost (a) $ 144 $ 184 These investments have the following maturities (b) : (Dollars in Millions) September 30, December 31, Less than 1 year $ 12 $ 83 1 - 5 years 69 37 5 - 10 years 16 17 Greater than 10 years 47 44 Total Investments at Fair Value $ 144 $ 181 (a) Exchange-traded funds are excluded as they are not disclosed at amortized cost. (b) Exchange-traded funds are excluded as there is no stated contractual maturity date. NOTE 9. Fair Value Measurements, continued Long-term Debt Long-term debt is reported at carrying amount on the consolidated balance sheets and is the Company's only financial instrument with fair values significantly different from their carrying amounts. The fair value of a company's debt is a measure of its current value under present market conditions. It does not impact the financial statements under current accounting rules. The majority of the Company's long-term debt is valued with assistance from a third party that utilizes closing transactions, market quotes or market values of comparable debt. For those instruments not valued by the third party, the fair value has been estimated by applying market rates of similar instruments to the scheduled contractual debt payments and maturities. These market rates are provided by the same third party. All of the inputs used to determine the fair value of the Company's long-term debt are Level 2 inputs. The fair value and carrying value of the Company's long-term debt is as follows: (Dollars in Millions) September 30, December 31, Long-term Debt (Including Current Maturities): Fair Value $ 17,619 $ 17,528 Carrying Value 18,541 18,533 Interest Rate Derivatives The Company’s fixed-to-floating and forward starting interest rate swaps are carried at their respective fair values, which are determined with assistance from a third party based upon pricing models using inputs observed from actively quoted markets. All of the inputs used to determine the fair value of the swaps are Level 2 inputs. The fair value of the Company’s fixed-to-floating interest rate swaps was an asset of $21 million and $19 million (for swaps entered in 2023), and a liability of $99 million and $107 million (for swaps entered in 2022) as of September 30, 2024, and December 31, 2023, respectively. The fair value of the Company’s forward starting interest rate swap asset was $48 million as of December 31, 2023. As of September 30, 2024, the forward interest rate swap was fully settled and there is no related asset or liability. See Note 7, Debt and Credit Agreements , for further information.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
Other Comprehensive Income (Loss)	Sep. 30, 2024
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Total comprehensive earnings are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders (e.g. issuance of equity securities and dividends). Generally, for CSX, total comprehensive earnings equal net earnings plus or minus adjustments for pension and other post-retirement liabilities as well as derivative activity and other adjustments. Total comprehensive earnings represent the activity for a period net of tax and was $895 million and $846 million for third quarters 2024 and 2023, respectively, and $2.7 billion and $2.8 billion for the nine months ended September 30, 2024 and 2023, respectively. While total comprehensive earnings is the activity in a period and is largely driven by net earnings in that period, AOCI represents the cumulative balance of other comprehensive income, net of tax, as of the balance sheet date. Changes in the AOCI balance by component are shown in the following table. Amounts reclassified in pension and other post-employment benefits to net earnings relate to the amortization of actuarial losses and are included in other income - net on the consolidated income statements. See Note 6, Employee Benefit Plans , for further information. Interest rate derivatives consist of forward starting interest rate swaps classified as cash flow hedges. See Note 7, Debt and Credit Agreements , for further information. Other primarily represents CSX's share of AOCI of equity method investees. Amounts reclassified in other to net earnings are included in purchased services and other or equipment and other rents on the consolidated income statements. Pension and Other Post-Employment Benefits Interest Rate Derivatives Other Accumulated Other Comprehensive (Loss) Income (Dollars in Millions) Balance December 31, 2023, Net of Tax (a) $ (390) $ 150 $ (39) $ (279) Other Comprehensive Income (Loss) Income Before Reclassifications — 4 — 4 Amounts Reclassified to Net Earnings 8 — 1 9 Tax Expense (2) (1) — (3) Total Other Comprehensive Income 6 3 1 10 Balance September 30, 2024, Net of Tax $ (384) $ 153 $ (38) $ (269) (a) See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Financ

Revision of Prior Period Financial Statements	9 Months Ended
Revision of Prior Period Financial Statements	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Revision of Prior Period Financial Statements	Revision of Prior Period Financial Statements During second quarter 2024, CSX completed a review of the accounting treatment for engineering scrap and certain engineering support labor and identified misstatements in its previously filed financial statements. Miscoding of engineering materials and labor resulted in an understatement of Purchased Services and Other and Labor and Fringe and an overstatement of Properties - Net. In accordance with the Accounting Standards Codification (“ASC”) Topic 250, Accounting Changes and Error Corrections , the Company evaluated the materiality of the errors on the consolidated financial statements as of and for the periods ended December 31, 2023, 2022, and 2021 and its unaudited consolidated financial statements as of and for the quarters and year-to-date periods ended March 31, 2024 and 2023, June 30, 2023 and September 30, 2023 and determined that they did not result in a material misstatement to the financial condition, results of operations, or liquidity for any of these periods previously presented. However, the Company determined that the effect of recording the misstatements during the second quarter of 2024 would be material to the annual 2024 consolidated financial statements. As a result, the Company revised its previously issued consolidated financial statements. The revision of the historical consolidated financial statements also includes the correction of other previously identified immaterial errors, which include pension-related adjustments to other comprehensive income as well as balance sheet reclassifications, that the Company had previously determined did not, either individually or in the aggregate, result in a material misstatement of its previously issued consolidated financial statements. Further information regarding the misstatements and related revisions are summarized in the tables below. Consolidated Statements of Income and Comprehensive Income (Dollars in Millions, Except Per Share Amounts) Quarter Ended March 31, 2024 As Previously Reported Adjustment As Revised Labor and Fringe $ 798 $ 7 $ 805 Purchased Services and Other 711 10 721 Total Expense 2,327 17 2,344 Operating Income 1,354 (17) 1,337 Earnings Before Income Taxes 1,185 (17) 1,168 Income Tax Expense (292) 4 (288) Net Earnings $ 893 $ (13) $ 880 Net Earnings Per Share, Basic $ 0.46 $ (0.01) $ 0.45 Net Earnings Per Share, Assuming Dilution $ 0.46 $ (0.01) $ 0.45 Total Comprehensive Earnings $ 899 $ (13) $ 886 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Statements of Income and Comprehensive Income , continued (Dollars in Millions, Except Per Share Amounts) Quarter Ended March 31, 2023 Quarter Ended June 30, 2023 Quarter Ended September 30, 2023 Quarter Ended December 31, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Labor and Fringe $ 723 $ 6 $ 729 $ 741 $ 7 $ 748 $ 752 $ 9 $ 761 $ 808 $ 6 $ 814 Purchased Services and Other 688 9 697 684 7 691 689 11 700 703 11 714 Depreciation and Amortization 393 2 395 402 2 404 399 4 403 417 (12) 405 Total Expense 2,242 17 2,259 2,217 16 2,233 2,277 24 2,301 2,360 5 2,365 Operating Income 1,464 (17) 1,447 1,482 (16) 1,466 1,295 (24) 1,271 1,320 (5) 1,315 Earnings Before Income Taxes 1,304 (17) 1,287 1,312 (16) 1,296 1,126 (24) 1,102 1,149 (5) 1,144 Income Tax Expense (317) 4 (313) (316) 4 (312) (280) 6 (274) (263) 1 (262) Net Earnings $ 987 $ (13) $ 974 $ 996 $ (12) $ 984 $ 846 $ (18) $ 828 $ 886 $ (4) $ 882 Net Earnings Per Share, Basic $ 0.48 $ (0.01) $ 0.47 $ 0.49 $ — $ 0.49 $ 0.42 $ — $ 0.42 $ 0.45 $ — $ 0.45 Net Earnings Per Share, Assuming Dilution $ 0.48 $ (0.01) $ 0.47 $ 0.49 $ — $ 0.49 $ 0.42 $ (0.01) $ 0.41 $ 0.45 $ — $ 0.45 Total Comprehensive Earnings $ 989 $ (13) $ 976 $ 992 $ (12) $ 980 $ 864 $ (18) $ 846 $ 946 $ 51 $ 997 (Dollars in Millions, Except Per Share Amounts) Six Months Ended June 30, 2023 Nine Months Ended September 30, 2023 Year Ended December 31, 2023 Year Ended December 31, 2022 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Labor and Fringe $ 1,464 $ 13 $ 1,477 $ 2,216 $ 22 $ 2,238 $ 3,024 $ 28 $ 3,052 $ 2,861 $ 24 $ 2,885 Purchased Services and Other 1,372 16 1,388 2,061 27 2,088 2,764 38 2,802 2,685 43 2,728 Depreciation and Amortization 795 4 799 1,194 8 1,202 1,611 (4) 1,607 1,500 2 1,502 Total Expense 4,459 33 4,492 6,736 57 6,793 9,096 62 9,158 8,830 69 8,899 Operating Income 2,946 (33) 2,913 4,241 (57) 4,184 5,561 (62) 5,499 6,023 (69) 5,954 Earnings Before Income Taxes 2,616 (33) 2,583 3,742 (57) 3,685 4,891 (62) 4,829 5,414 (69) 5,345 Income Tax Expense (633) 8 (625) (913) 14 (899) (1,176) 15 (1,161) (1,248) 17 (1,231) Net Earnings $ 1,983 $ (25) $ 1,958 $ 2,829 $ (43) $ 2,786 $ 3,715 $ (47) $ 3,668 $ 4,166 $ (52) $ 4,114 Net Earnings Per Share, Basic $ 0.97 $ (0.01) $ 0.96 $ 1.40 $ (0.02) $ 1.38 $ 1.85 $ (0.02) $ 1.83 $ 1.95 $ (0.02) $ 1.93 Net Earnings Per Share, Assuming Dilution $ 0.97 $ (0.01) $ 0.96 $ 1.40 $ (0.03) $ 1.37 $ 1.85 $ (0.03) $ 1.82 $ 1.95 $ (0.03) $ 1.92 Net Earnings Not Presented $ 3,715 $ (47) $ 3,668 $ 4,166 $ (52) $ 4,114 Other Comprehensive Income (Loss) - Net of Tax: Pension and Other Post-Employment Benefits 74 55 129 (66) (54) (120) Total Other Comprehensive Income 76 55 131 20 (54) (34) Comprehensive Earnings $ 1,981 $ (25) $ 1,956 $ 2,845 $ (43) $ 2,802 $ 3,791 $ 8 $ 3,799 $ 4,186 $ (106) $ 4,080 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Balance Sheets (Dollars in Millions) March 31, 2024 December 31, 2023 September 30, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Assets Materials and Supplies $ 451 $ (6) $ 445 $ 446 $ (6) $ 440 $ 427 $ — $ 427 Other Current Assets 136 (19) 117 109 (19) 90 94 (19) 75 Total Current Assets 3,472 (25) 3,447 3,384 (25) 3,359 3,359 (19) 3,340 Properties 50,661 (44) 50,617 50,320 (39) 50,281 49,118 573 49,691 Accumulated Depreciation (15,605) (187) (15,792) (15,385) (175) (15,560) (14,462) (788) (15,250) Properties - Net 35,056 (231) 34,825 34,935 (214) 34,721 34,656 (215) 34,441 Other Long-Term Assets 716 43 759 688 43 731 466 (27) 439 Total Assets $ 42,695 $ (213) $ 42,482 $ 42,408 $ (196) $ 42,212 $ 41,850 $ (261) $ 41,589 Liabilities and Shareholder's Equity Income and Other Taxes Payable $ 382 $ (1) $ 381 $ 525 $ (1) $ 524 $ 361 $ — $ 361 Total Current Liabilities 3,024 (1) 3,023 3,224 (1) 3,223 2,934 — 2,934 Deferred Income Taxes - Net 7,759 (51) 7,708 7,746 (47) 7,699 7,700 (63) 7,637 Total Liabilities 30,093 (52) 30,041 30,275 (48) 30,227 29,896 (63) 29,833 Shareholders' Equity Retained Earnings 10,205 (194) 10,011 9,790 (181) 9,609 9,689 (176) 9,513 Accumulated Other Comprehensive Loss (306) 33 (273) (312) 33 (279) (372) (22) (394) Total Shareholders' Equity 12,602 (161) 12,441 12,133 (148) 11,985 11,954 (198) 11,756 Total Liabilities and Shareholders' Equity $ 42,695 $ (213) $ 42,482 $ 42,408 $ (196) $ 42,212 $ 41,850 $ (261) $ 41,589 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Balance Sheets , continued (Dollars in Millions) June 30, 2023 March 31, 2023 December 31, 2022 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Assets Cash and Cash Equivalents $ 956 $ — $ 956 $ 1,291 $ — $ 1,291 $ 1,958 $ (25) $ 1,933 Other Current Assets 123 (16) 107 115 (16) 99 108 (17) 91 Total Current Assets 2,911 (16) 2,895 3,355 (16) 3,339 3,849 (42) 3,807 Properties 48,970 271 49,241 48,441 339 48,780 48,105 358 48,463 Accumulated Depreciation (14,493) (481) (14,974) (14,148) (533) (14,681) (13,863) (530) (14,393) Properties - Net 34,477 (210) 34,267 34,293 (194) 34,099 34,242 (172) 34,070 Other Long-Term Assets 485 (12) 473 528 (12) 516 522 (16) 506 Total Assets $ 41,217 $ (238) $ 40,979 $ 41,478 $ (222) $ 41,256 $ 41,912 $ (230) $ 41,682 Liabilities and Shareholder's Equity Labor and Fringe Benefits Payable $ 444 $ — $ 444 $ 367 $ — $ 367 $ 707 $ (25) $ 682 Other Current Liabilities 207 19 226 228 10 238 228 — 228 Total Current Liabilities 2,055 19 2,074 2,321 10 2,331 2,471 (25) 2,446 Deferred Income Taxes - Net 7,662 (57) 7,605 7,605 (53) 7,552 7,569 (49) 7,520 Total Liabilities 28,943 (38) 28,905 29,144 (43) 29,101 29,287 (74) 29,213 Shareholders' Equity Retained Earnings 10,030 (178) 9,852 10,092 (157) 9,935 10,363 (134) 10,229 Accumulated Other Comprehensive Loss (390) (22) (412) (386) (22) (408) (388) (22) (410) Total Shareholders' Equity 12,274 (200) 12,074 12,334 (179) 12,155 12,625 (156) 12,469 Total Liabilities and Shareholders' Equity $ 41,217 $ (238) $ 40,979 $ 41,478 $ (222) $ 41,256 $ 41,912 $ (230) $ 41,682 Consolidated Cash Flow Statements (Dollars in Millions) Three Months Ended March 31, 2024 As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 893 $ (13) $ 880 Deferred Income Taxes 11 (4) 7 Other Operating Activities (15) (1) (16) Net Cash Provided by Operating Activities 1,084 (18) 1,066 Investing Activities Property Additions (524) 7 (517) Proceeds and Advances from Property Dispositions — 11 11 Net Cash Used in Investing Activities $ (504) $ 18 $ (486) NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Cash Flow Statements , continued (Dollars in Millions) Three Months Ended March 31, 2023 Six Months Ended June 30, 2023 Nine Months Ended September 30, 2023 Year Ended December 31, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 987 $ (13) $ 974 $ 1,983 $ (25) $ 1,958 $ 2,829 $ (43) $ 2,786 $ 3,715 $ (47) $ 3,668 Depreciation 393 2 395 795 4 799 1,194 8 1,202 1,611 (4) 1,607 Deferred Income Taxes 35 (4) 31 78 (8) 70 111 (14) 97 140 (14) 126 Other Operating Activities (31) (4) (35) 23 (5) 18 69 (2) 67 (5) (2) (7) Changes in Other Current Assets (72) (1) (73) (105) (1) (106) (86) 2 (84) (120) 8 (112) Changes in Income and Other Taxes Payable 266 — 266 33 — 33 267 — 267 431 (1) 430 Changes in Other Current Liabilities (326) 25 (301) (292) 25 (267) (296) 25 (271) (221) 25 (196) Net Cash Provided by Operating Activities 1,251 5 1,256 2,483 (10) 2,473 4,049 (24) 4,025 5,549 (35) 5,514 Investing Activities Property Additions (443) 11 (432) (1,015) 18 (997) (1,590) 19 (1,571) (2,281) 24 (2,257) Proceeds and Advances from Property Dispositions 8 9 17 35 17 52 35 30 65 52 36 88 Net Cash Used in Investing Activities (480) 20 (460) (980) 35 (945) (1,555) 49 (1,506) (2,287) 60 (2,227) Net Decrease in Cash and Cash Equivalents (667) 25 (642) (1,002) 25 (977) (598) 25 (573) (605) 25 (580) Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period 1,958 (25) 1,933 1,958 (25) 1,933 1,958 (25) 1,933 1,958 (25) 1,933 Cash and Cash Equivalents at End of Period $ 1,291 $ — $ 1,291 $ 956 $ — $ 956 $ 1,360 $ — $ 1,360 $ 1,353 $ — $ 1,353 (Dollars in Millions) Year Ended December 31, 2022 As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 4,166 $ (52) $ 4,114 Depreciation 1,500 2 1,502 Deferred Income Taxes 117 (17) 100 Other Operating Activities (17) 1 (16) Changes in Other Current Assets (22) (2) (24) Changes in Other Current Liabilities 113 (25) 88 Net Cash Provided by Operating Activities 5,619 (93) 5,526 Investing Activities Property Additions (2,133) 20 (2,113) Proceeds and Advances from Property Dispositions 246 48 294 Net Cash Used in Investing Activities (2,131) 68 (2,063) Net Decrease in Cash and Cash Equivalents (281) (25) (306) Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period 2,239 — 2,239 Cash and Cash Equivalents at End of Period $ 1,958 $ (25) $ 1,933 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Statements of Changes in Shareholders' Equity Annual Periods: (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2021 $ 13,500 $ 11,630 $ (408) $ (49) $ (81) $ 32 $ 13,451 $ 11,549 $ (376) Net Earnings 4,166 4,166 — (52) (52) — 4,114 4,114 — Other Comprehensive Income 20 — 20 (54) — (54) (34) — (34) Total Comprehensive Earnings 4,186 (106) 4,080 Stock Option Exercises and Other 100 (1) — (1) (1) — 99 (2) — Balance December 31, 2022 $ 12,625 $ 10,363 $ (388) $ (156) $ (134) $ (22) $ 12,469 $ 10,229 $ (410) Net Earnings 3,715 3,715 — (47) (47) — 3,668 3,668 — Other Comprehensive Income 76 — 76 55 — 55 131 — 131 Total Comprehensive Earnings 3,791 8 3,799 Balance December 31, 2023 $ 12,133 $ 9,790 $ (312) $ (148) $ (181) $ 33 $ 11,985 $ 9,609 $ (279) Quarterly Periods: (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2022 $ 12,625 $ 10,363 $ (388) $ (156) $ (134) $ (22) $ 12,469 $ 10,229 $ (410) Net Earnings 987 987 — (13) (13) — 974 974 — Total Comprehensive Earnings 989 (13) 976 Excise Tax on Net Share Repurchases — — — (10) (10) — (10) (10) — Balance March 31, 2023 $ 12,334 $ 10,092 $ (386) $ (179) $ (157) $ (22) $ 12,155 $ 9,935 $ (408) Net Earnings 996 996 — (12) (12) — 984 984 — Total Comprehensive Earnings 992 (12) 980 Excise Tax on Net Share Repurchases — — — (9) (9) — (9) (9) — Balance June 30, 2023 $ 12,274 $ 10,030 $ (390) $ (200) $ (178) $ (22) $ 12,074 $ 9,852 $ (412) Net Earnings 846 846 — (18) (18) — 828 828 — Total Comprehensive Earnings 864 (18) 846 Excise Tax on Net Share Repurchases (28) (28) — 19 19 — (9) (9) — Stock Option Exercises and Other 33 (1) — 1 1 — 34 — — Balance September 30, 2023 $ 11,954 $ 9,689 $ (372) $ (198) $ (176) $ (22) $ 11,756 $ 9,513 $ (394) (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2023 $ 12,133 $ 9,790 $ (312) $ (148) $ (181) $ 33 $ 11,985 $ 9,609 $ (279) Net Earnings 893 893 — (13) (13) — 880 880 — Total Comprehensive Earnings 899 (13) 886 Balance March 31, 2024 $ 12,602 $ 10,205 $ (306) $ (161) $ (194) $ 33 $ 12,441 $ 10,011 $ (273)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Pay vs Performance Disclosure

Net Earnings

$ 894

[1]

$ 963

[1]

$ 880

[1]

$ 882

$ 828

[2]

$ 984

[3]

$ 974

[3]

$ 1,958

$ 2,737

[2]

$ 2,786

[2]

$ 3,668

$ 4,114

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Sign_2

Nature of Operations and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying consolidated financial statements contain all normal, recurring adjustments necessary to fairly present the consolidated financial statements and accompanying notes. Where applicable, prior year information has been reclassified to conform to the current presentation. Pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), certain information and disclosures normally included in the notes to the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted from these interim financial statements. CSX suggests that these financial statements be read in conjunction with the audited financial statements and the notes included in CSX's most recent annual report on Form 10-K and any subsequently filed current reports on Form 8-K.
Fiscal Year	Fiscal Year The Company's fiscal periods are based upon the calendar year. Except as otherwise specified, references to “third quarter(s)” or “nine months” indicate CSX's fiscal periods ending September 30, 2024 and September 30, 2023, and references to "year-end" indicate the fiscal year ended December 31, 2023.
New Accounting Pronouncements	New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Improvements to Reportable Segment Disclosures . This standard update requires additional interim and annual disclosures about a reportable segment’s expenses, even for companies with only one reportable segment. The Company is required to adopt the guidance for its 2024 annual report filed on Form 10-K. The Company is currently evaluating the impact of these amendments on its disclosures, but this standard update will not impact the Company's results of operations or financial position. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures . This standard update requires additional interim and annual disclosures about a company’s income taxes, including more detailed information around the annual rate reconciliation and income taxes paid. The Company is required to adopt the guidance for its 2025 annual report filed on Form 10-K, though early adoption is permitted. The Company is currently evaluating the impact of these amendments on its disclosures, but this standard update will not impact the Company's results of operations or financial position.
Revision of Prior Period Financial Statements	Revision of Prior Period Financial Statements During second quarter 2024, CSX completed a review of the accounting treatment for engineering scrap and certain engineering support labor and identified misstatements between the balance sheet and operating expense in previously issued financial statements. The Company determined the impacts of these misstatements were immaterial to the financial statements for all prior periods identified. For comparative purposes, the Company has made corrections to the consolidated financial statements and applicable notes for the prior periods presented in this Form 10-Q. See Note 11, Revision of Prior Period Financial Statements,
Revenue Recognition	The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of risk characteristics, historical payment experience, and the age of outstanding receivables adjusted for forward-looking economic conditions as necessary.
Fair Value Measurements	Investments The Company's investment assets are carried at fair value on the consolidated balance sheet in accordance with the Fair Value Measurements and Disclosures Topic in the ASC. They are valued with assistance from a third-party trustee and consist of fixed income mutual funds, exchange-traded funds, corporate bonds, asset-backed securities and government securities. The fixed income mutual funds are valued at the net asset value of shares held based on quoted market prices determined in an active market, which are Level 1 inputs. The exchange-traded funds are valued at quoted market prices determined in an active market, which are Level 1 inputs. The corporate bonds, asset-backed securities and government securities are valued using broker quotes that utilize observable market inputs, which are Level 2 inputs. Unrealized gains as of September 30, 2024, and unrealized losses as of September 30, 2023, were not material. The Company believes any impairment of investments held with gross unrealized losses to be temporary and not the result of credit risk. Long-term Debt Long-term debt is reported at carrying amount on the consolidated balance sheets and is the Company's only financial instrument with fair values significantly different from their carrying amounts. The fair value of a company's debt is a measure of its current value under present market conditions. It does not impact the financial statements under current accounting rules. The majority of the Company's long-term debt is valued with assistance from a third party that utilizes closing transactions, market quotes or market values of comparable debt. For those instruments not valued by the third party, the fair value has been estimated by applying market rates of similar instruments to the scheduled contractual debt payments and maturities. These market rates are provided by the same third party. All of the inputs used to determine the fair value of the Company's long-term debt are Level 2 inputs. Interest Rate Derivatives

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic Earnings Per Share, Assuming Dilution	The following table sets forth the computation of basic earnings per share and earnings per share, assuming dilution. Third Quarters Nine Months 2024 2023 (a) 2024 (a) 2023 (a) Numerator (Dollars in Millions) : Net Earnings $ 894 $ 828 $ 2,737 $ 2,786 Denominator (Units in Millions) : Average Common Shares Outstanding 1,936 1,994 1,946 2,022 Other Potentially Dilutive Common Shares 4 5 4 5 Average Common Shares Outstanding, Assuming Dilution 1,940 1,999 1,950 2,027 Net Earnings Per Share, Basic $ 0.46 $ 0.42 $ 1.41 $ 1.38 Net Earnings Per Share, Assuming Dilution $ 0.46 $ 0.41 $ 1.40 $ 1.37 (a) See Note 11, Revision of Prior Period Financial Statements.
Schedule of Total Average Outstanding Stock Options Excluded from Diluted Earnings Per Share Calculation	The total average outstanding stock options that were excluded from the diluted earnings per share calculation because their effect was antidilutive is in the table below. Third Quarters Nine Months 2024 2023 2024 2023 Antidilutive Stock Options Excluded from Diluted EPS (Units in Millions) 3 3 3 4
Schedule of Share Repurchase	During third quarters and nine months ended September 30, 2024 and September 30, 2023, the Company engaged in the following repurchase activities: Third Quarters Nine Months 2024 2023 2024 2023 Shares Repurchased (Millions) 12 31 35 94 Cost of Shares (Dollars in Millions) $ 402 $ 971 $ 1,212 $ 2,901

Stock Plans and Share-Based C_2

Stock Plans and Share-Based Compensation (Tables)	9 Months Ended
Stock Plans and Share-Based Compensation (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Pre-tax Expense and Income Tax Benefits Associated with Share-Based Compensation	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. Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Share-Based Compensation Expense: Restricted Stock Units $ 7 $ 5 $ 21 $ 14 Performance units 4 5 7 14 Stock Options 3 3 9 9 Employee Stock Purchase Plans 2 2 6 6 Stock Awards for Directors — — 2 2 Total Share-Based Compensation Expense $ 16 $ 15 $ 45 $ 45 Income Tax Benefit $ 4 $ 3 $ 12 $ 10
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award	In February 2024, the Company granted the following awards under a new long-term incentive plan ("LTIP") for the years 2024 through 2026, which was adopted under the CSX 2019 Stock and Incentive Award Plan. Granted (Thousands) Weighted Avg. Fair Value Performance Units 605 $ 38.66 Restricted Stock Units 601 36.72 Stock Options 957 11.57

Casualty, Environmental and O_2

Casualty, Environmental and Other Reserves (Tables)	9 Months Ended
Casualty, Environmental and Other Reserves (Tables)	Sep. 30, 2024
Casualty, Environmental and Other Reserves [Abstract]
Schedule of Casualty, Environmental and Other Reserves	Casualty, environmental and other reserves are provided for in the consolidated balance sheets as shown in the table below. September 30, 2024 December 31, 2023 (Dollars in Millions) Current Long-term Total Current Long-term Total Casualty: Personal Injury $ 51 $ 91 $ 142 $ 45 $ 83 $ 128 Occupational 11 58 69 7 60 67 Total Casualty 62 149 211 52 143 195 Environmental 36 111 147 41 113 154 Other 49 49 98 51 40 91 Total $ 147 $ 309 $ 456 $ 144 $ 296 $ 440

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
Employee Benefit Plans (Tables)	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Costs	Pension Benefits Cost Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Service Cost Included in Labor and Fringe $ 6 $ 6 $ 18 $ 18 Interest Cost 27 28 80 84 Expected Return on Plan Assets (42) (41) (127) (123) Amortization of Net Loss 5 7 14 21 Total Included in Other Income - Net (10) (6) (33) (18) Net Periodic Benefit Credit $ (4) $ — $ (15) $ —

Debt and Credit Agreements (Tab

Debt and Credit Agreements (Tables)	9 Months Ended
Debt and Credit Agreements (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Activity Related to Long-Term Debt	Total activity related to long-term debt as of the end of third quarter 2024 is shown in the table below. For fair value information related to the Company's long-term debt, see Note 9, Fair Value Measurements . (Dollars in Millions) Current Portion Long-term Portion Total Long-term Debt as of December 31, 2023 $ 558 $ 17,975 $ 18,533 2024 Activity: Long-term Debt Issued — 550 550 Long-term Debt Repaid (556) — (556) Reclassifications 4 (4) — Hedging, Discount, Premium and Other Activity — 14 14 Long-term Debt as of September 30, 2024 $ 6 $ 18,535 $ 18,541
Schedule of Interest Rate Derivatives	The cumulative adjustment to the hedged notes is included in long-term debt on the consolidated balance sheet as shown in the following table below. (Dollars in Millions) September 30, 2024 December 31, 2023 Notional Value of Hedged Notes $ 1,050 $ 1,050 Fair Value Asset Adjustment to Hedged Notes 21 19 Fair Value Liability Adjustment to Hedged Notes (99) (107) Carrying Amount of Hedged Notes $ 972 $ 962 Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Interest Expense Impact (Increase) Decrease $ (8) $ (7) $ (24) $ (19)
Schedule of Interest Expense / Unrealized Amounts Related to Cash Flow Hedges	Unrealized amounts related to the hedge, recorded net of tax in other comprehensive income, are summarized in the table below. Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Unrealized Gain - Net $ — $ 14 $ 3 $ 4

Revenues (Tables)

Revenues (Tables)	9 Months Ended
Revenues (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Lines of Business	The following table presents the Company’s revenues disaggregated by market as this best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors: Third Quarters Nine Months (Dollars in Millions) 2024 2023 2024 2023 Chemicals $ 727 $ 646 $ 2,142 $ 1,938 Agricultural and Food Products 416 376 1,229 1,228 Automotive 301 308 930 905 Forest Products 259 243 790 761 Metals and Equipment 208 225 658 704 Minerals 202 190 583 554 Fertilizers 118 124 380 381 Total Merchandise 2,231 2,112 6,712 6,471 Coal 553 594 1,748 1,864 Intermodal 509 517 1,521 1,508 Trucking 214 218 650 678 Other 112 131 370 456 Total $ 3,619 $ 3,572 $ 11,001 $ 10,977
Schedule of Accounts Receivable, Net	(Dollars in Millions) September 30, December 31, Freight Receivables $ 1,045 $ 1,047 Freight Allowance for Credit Losses (17) (18) Freight Receivables - Net 1,028 1,029 Non-Freight Receivables 398 378 Non-Freight Allowance for Credit Losses (13) (14) Non-Freight Receivables - Net 385 364 Total Accounts Receivable - Net $ 1,413 $ 1,393

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Investment Assets	The Company's investment assets are carried at fair value on the consolidated balance sheets, within the line items Short-term Investments and Other Long-term Assets, as summarized in the following table. September 30, 2024 December 31, 2023 (Dollars in Millions) Level 1 Level 2 Total Level 1 Level 2 Total Fixed Income Mutual Funds $ — $ — $ — $ 80 $ — $ 80 Exchange-traded Funds 2 — 2 — — — Corporate Bonds — 76 76 — 60 60 Asset-backed Securities — 28 28 — 1 1 Government Securities — 40 40 — 40 40 Total Investments at Fair Value $ 2 $ 144 $ 146 $ 80 $ 101 $ 181 Total Investments at Amortized Cost (a) $ 144 $ 184
Schedule of Investment Maturities	These investments have the following maturities (b) : (Dollars in Millions) September 30, December 31, Less than 1 year $ 12 $ 83 1 - 5 years 69 37 5 - 10 years 16 17 Greater than 10 years 47 44 Total Investments at Fair Value $ 144 $ 181 (a) Exchange-traded funds are excluded as they are not disclosed at amortized cost. (b) Exchange-traded funds are excluded as there is no stated contractual maturity date.
Schedule of Fair Value and Carrying Value of Long-Term Debt	The fair value and carrying value of the Company's long-term debt is as follows: (Dollars in Millions) September 30, December 31, Long-term Debt (Including Current Maturities): Fair Value $ 17,619 $ 17,528 Carrying Value 18,541 18,533

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Other Comprehensive Income (Loss) (Tables)	Sep. 30, 2024
Equity [Abstract]
Schedule of Changes in AOCI balance by Component	Pension and Other Post-Employment Benefits Interest Rate Derivatives Other Accumulated Other Comprehensive (Loss) Income (Dollars in Millions) Balance December 31, 2023, Net of Tax (a) $ (390) $ 150 $ (39) $ (279) Other Comprehensive Income (Loss) Income Before Reclassifications — 4 — 4 Amounts Reclassified to Net Earnings 8 — 1 9 Tax Expense (2) (1) — (3) Total Other Comprehensive Income 6 3 1 10 Balance September 30, 2024, Net of Tax $ (384) $ 153 $ (38) $ (269) (a) See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Fina_2

Revision of Prior Period Financial Statements (Tables)	9 Months Ended
Revision of Prior Period Financial Statements (Tables)	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	Further information regarding the misstatements and related revisions are summarized in the tables below. Consolidated Statements of Income and Comprehensive Income (Dollars in Millions, Except Per Share Amounts) Quarter Ended March 31, 2024 As Previously Reported Adjustment As Revised Labor and Fringe $ 798 $ 7 $ 805 Purchased Services and Other 711 10 721 Total Expense 2,327 17 2,344 Operating Income 1,354 (17) 1,337 Earnings Before Income Taxes 1,185 (17) 1,168 Income Tax Expense (292) 4 (288) Net Earnings $ 893 $ (13) $ 880 Net Earnings Per Share, Basic $ 0.46 $ (0.01) $ 0.45 Net Earnings Per Share, Assuming Dilution $ 0.46 $ (0.01) $ 0.45 Total Comprehensive Earnings $ 899 $ (13) $ 886 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Statements of Income and Comprehensive Income , continued (Dollars in Millions, Except Per Share Amounts) Quarter Ended March 31, 2023 Quarter Ended June 30, 2023 Quarter Ended September 30, 2023 Quarter Ended December 31, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Labor and Fringe $ 723 $ 6 $ 729 $ 741 $ 7 $ 748 $ 752 $ 9 $ 761 $ 808 $ 6 $ 814 Purchased Services and Other 688 9 697 684 7 691 689 11 700 703 11 714 Depreciation and Amortization 393 2 395 402 2 404 399 4 403 417 (12) 405 Total Expense 2,242 17 2,259 2,217 16 2,233 2,277 24 2,301 2,360 5 2,365 Operating Income 1,464 (17) 1,447 1,482 (16) 1,466 1,295 (24) 1,271 1,320 (5) 1,315 Earnings Before Income Taxes 1,304 (17) 1,287 1,312 (16) 1,296 1,126 (24) 1,102 1,149 (5) 1,144 Income Tax Expense (317) 4 (313) (316) 4 (312) (280) 6 (274) (263) 1 (262) Net Earnings $ 987 $ (13) $ 974 $ 996 $ (12) $ 984 $ 846 $ (18) $ 828 $ 886 $ (4) $ 882 Net Earnings Per Share, Basic $ 0.48 $ (0.01) $ 0.47 $ 0.49 $ — $ 0.49 $ 0.42 $ — $ 0.42 $ 0.45 $ — $ 0.45 Net Earnings Per Share, Assuming Dilution $ 0.48 $ (0.01) $ 0.47 $ 0.49 $ — $ 0.49 $ 0.42 $ (0.01) $ 0.41 $ 0.45 $ — $ 0.45 Total Comprehensive Earnings $ 989 $ (13) $ 976 $ 992 $ (12) $ 980 $ 864 $ (18) $ 846 $ 946 $ 51 $ 997 (Dollars in Millions, Except Per Share Amounts) Six Months Ended June 30, 2023 Nine Months Ended September 30, 2023 Year Ended December 31, 2023 Year Ended December 31, 2022 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Labor and Fringe $ 1,464 $ 13 $ 1,477 $ 2,216 $ 22 $ 2,238 $ 3,024 $ 28 $ 3,052 $ 2,861 $ 24 $ 2,885 Purchased Services and Other 1,372 16 1,388 2,061 27 2,088 2,764 38 2,802 2,685 43 2,728 Depreciation and Amortization 795 4 799 1,194 8 1,202 1,611 (4) 1,607 1,500 2 1,502 Total Expense 4,459 33 4,492 6,736 57 6,793 9,096 62 9,158 8,830 69 8,899 Operating Income 2,946 (33) 2,913 4,241 (57) 4,184 5,561 (62) 5,499 6,023 (69) 5,954 Earnings Before Income Taxes 2,616 (33) 2,583 3,742 (57) 3,685 4,891 (62) 4,829 5,414 (69) 5,345 Income Tax Expense (633) 8 (625) (913) 14 (899) (1,176) 15 (1,161) (1,248) 17 (1,231) Net Earnings $ 1,983 $ (25) $ 1,958 $ 2,829 $ (43) $ 2,786 $ 3,715 $ (47) $ 3,668 $ 4,166 $ (52) $ 4,114 Net Earnings Per Share, Basic $ 0.97 $ (0.01) $ 0.96 $ 1.40 $ (0.02) $ 1.38 $ 1.85 $ (0.02) $ 1.83 $ 1.95 $ (0.02) $ 1.93 Net Earnings Per Share, Assuming Dilution $ 0.97 $ (0.01) $ 0.96 $ 1.40 $ (0.03) $ 1.37 $ 1.85 $ (0.03) $ 1.82 $ 1.95 $ (0.03) $ 1.92 Net Earnings Not Presented $ 3,715 $ (47) $ 3,668 $ 4,166 $ (52) $ 4,114 Other Comprehensive Income (Loss) - Net of Tax: Pension and Other Post-Employment Benefits 74 55 129 (66) (54) (120) Total Other Comprehensive Income 76 55 131 20 (54) (34) Comprehensive Earnings $ 1,981 $ (25) $ 1,956 $ 2,845 $ (43) $ 2,802 $ 3,791 $ 8 $ 3,799 $ 4,186 $ (106) $ 4,080 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Balance Sheets (Dollars in Millions) March 31, 2024 December 31, 2023 September 30, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Assets Materials and Supplies $ 451 $ (6) $ 445 $ 446 $ (6) $ 440 $ 427 $ — $ 427 Other Current Assets 136 (19) 117 109 (19) 90 94 (19) 75 Total Current Assets 3,472 (25) 3,447 3,384 (25) 3,359 3,359 (19) 3,340 Properties 50,661 (44) 50,617 50,320 (39) 50,281 49,118 573 49,691 Accumulated Depreciation (15,605) (187) (15,792) (15,385) (175) (15,560) (14,462) (788) (15,250) Properties - Net 35,056 (231) 34,825 34,935 (214) 34,721 34,656 (215) 34,441 Other Long-Term Assets 716 43 759 688 43 731 466 (27) 439 Total Assets $ 42,695 $ (213) $ 42,482 $ 42,408 $ (196) $ 42,212 $ 41,850 $ (261) $ 41,589 Liabilities and Shareholder's Equity Income and Other Taxes Payable $ 382 $ (1) $ 381 $ 525 $ (1) $ 524 $ 361 $ — $ 361 Total Current Liabilities 3,024 (1) 3,023 3,224 (1) 3,223 2,934 — 2,934 Deferred Income Taxes - Net 7,759 (51) 7,708 7,746 (47) 7,699 7,700 (63) 7,637 Total Liabilities 30,093 (52) 30,041 30,275 (48) 30,227 29,896 (63) 29,833 Shareholders' Equity Retained Earnings 10,205 (194) 10,011 9,790 (181) 9,609 9,689 (176) 9,513 Accumulated Other Comprehensive Loss (306) 33 (273) (312) 33 (279) (372) (22) (394) Total Shareholders' Equity 12,602 (161) 12,441 12,133 (148) 11,985 11,954 (198) 11,756 Total Liabilities and Shareholders' Equity $ 42,695 $ (213) $ 42,482 $ 42,408 $ (196) $ 42,212 $ 41,850 $ (261) $ 41,589 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Balance Sheets , continued (Dollars in Millions) June 30, 2023 March 31, 2023 December 31, 2022 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Assets Cash and Cash Equivalents $ 956 $ — $ 956 $ 1,291 $ — $ 1,291 $ 1,958 $ (25) $ 1,933 Other Current Assets 123 (16) 107 115 (16) 99 108 (17) 91 Total Current Assets 2,911 (16) 2,895 3,355 (16) 3,339 3,849 (42) 3,807 Properties 48,970 271 49,241 48,441 339 48,780 48,105 358 48,463 Accumulated Depreciation (14,493) (481) (14,974) (14,148) (533) (14,681) (13,863) (530) (14,393) Properties - Net 34,477 (210) 34,267 34,293 (194) 34,099 34,242 (172) 34,070 Other Long-Term Assets 485 (12) 473 528 (12) 516 522 (16) 506 Total Assets $ 41,217 $ (238) $ 40,979 $ 41,478 $ (222) $ 41,256 $ 41,912 $ (230) $ 41,682 Liabilities and Shareholder's Equity Labor and Fringe Benefits Payable $ 444 $ — $ 444 $ 367 $ — $ 367 $ 707 $ (25) $ 682 Other Current Liabilities 207 19 226 228 10 238 228 — 228 Total Current Liabilities 2,055 19 2,074 2,321 10 2,331 2,471 (25) 2,446 Deferred Income Taxes - Net 7,662 (57) 7,605 7,605 (53) 7,552 7,569 (49) 7,520 Total Liabilities 28,943 (38) 28,905 29,144 (43) 29,101 29,287 (74) 29,213 Shareholders' Equity Retained Earnings 10,030 (178) 9,852 10,092 (157) 9,935 10,363 (134) 10,229 Accumulated Other Comprehensive Loss (390) (22) (412) (386) (22) (408) (388) (22) (410) Total Shareholders' Equity 12,274 (200) 12,074 12,334 (179) 12,155 12,625 (156) 12,469 Total Liabilities and Shareholders' Equity $ 41,217 $ (238) $ 40,979 $ 41,478 $ (222) $ 41,256 $ 41,912 $ (230) $ 41,682 Consolidated Cash Flow Statements (Dollars in Millions) Three Months Ended March 31, 2024 As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 893 $ (13) $ 880 Deferred Income Taxes 11 (4) 7 Other Operating Activities (15) (1) (16) Net Cash Provided by Operating Activities 1,084 (18) 1,066 Investing Activities Property Additions (524) 7 (517) Proceeds and Advances from Property Dispositions — 11 11 Net Cash Used in Investing Activities $ (504) $ 18 $ (486) NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Cash Flow Statements , continued (Dollars in Millions) Three Months Ended March 31, 2023 Six Months Ended June 30, 2023 Nine Months Ended September 30, 2023 Year Ended December 31, 2023 As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 987 $ (13) $ 974 $ 1,983 $ (25) $ 1,958 $ 2,829 $ (43) $ 2,786 $ 3,715 $ (47) $ 3,668 Depreciation 393 2 395 795 4 799 1,194 8 1,202 1,611 (4) 1,607 Deferred Income Taxes 35 (4) 31 78 (8) 70 111 (14) 97 140 (14) 126 Other Operating Activities (31) (4) (35) 23 (5) 18 69 (2) 67 (5) (2) (7) Changes in Other Current Assets (72) (1) (73) (105) (1) (106) (86) 2 (84) (120) 8 (112) Changes in Income and Other Taxes Payable 266 — 266 33 — 33 267 — 267 431 (1) 430 Changes in Other Current Liabilities (326) 25 (301) (292) 25 (267) (296) 25 (271) (221) 25 (196) Net Cash Provided by Operating Activities 1,251 5 1,256 2,483 (10) 2,473 4,049 (24) 4,025 5,549 (35) 5,514 Investing Activities Property Additions (443) 11 (432) (1,015) 18 (997) (1,590) 19 (1,571) (2,281) 24 (2,257) Proceeds and Advances from Property Dispositions 8 9 17 35 17 52 35 30 65 52 36 88 Net Cash Used in Investing Activities (480) 20 (460) (980) 35 (945) (1,555) 49 (1,506) (2,287) 60 (2,227) Net Decrease in Cash and Cash Equivalents (667) 25 (642) (1,002) 25 (977) (598) 25 (573) (605) 25 (580) Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period 1,958 (25) 1,933 1,958 (25) 1,933 1,958 (25) 1,933 1,958 (25) 1,933 Cash and Cash Equivalents at End of Period $ 1,291 $ — $ 1,291 $ 956 $ — $ 956 $ 1,360 $ — $ 1,360 $ 1,353 $ — $ 1,353 (Dollars in Millions) Year Ended December 31, 2022 As Previously Reported Adjustment As Revised Operating Activities Net Earnings $ 4,166 $ (52) $ 4,114 Depreciation 1,500 2 1,502 Deferred Income Taxes 117 (17) 100 Other Operating Activities (17) 1 (16) Changes in Other Current Assets (22) (2) (24) Changes in Other Current Liabilities 113 (25) 88 Net Cash Provided by Operating Activities 5,619 (93) 5,526 Investing Activities Property Additions (2,133) 20 (2,113) Proceeds and Advances from Property Dispositions 246 48 294 Net Cash Used in Investing Activities (2,131) 68 (2,063) Net Decrease in Cash and Cash Equivalents (281) (25) (306) Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period 2,239 — 2,239 Cash and Cash Equivalents at End of Period $ 1,958 $ (25) $ 1,933 NOTE 11. Revision of Prior Period Financial Statements, continued Consolidated Statements of Changes in Shareholders' Equity Annual Periods: (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2021 $ 13,500 $ 11,630 $ (408) $ (49) $ (81) $ 32 $ 13,451 $ 11,549 $ (376) Net Earnings 4,166 4,166 — (52) (52) — 4,114 4,114 — Other Comprehensive Income 20 — 20 (54) — (54) (34) — (34) Total Comprehensive Earnings 4,186 (106) 4,080 Stock Option Exercises and Other 100 (1) — (1) (1) — 99 (2) — Balance December 31, 2022 $ 12,625 $ 10,363 $ (388) $ (156) $ (134) $ (22) $ 12,469 $ 10,229 $ (410) Net Earnings 3,715 3,715 — (47) (47) — 3,668 3,668 — Other Comprehensive Income 76 — 76 55 — 55 131 — 131 Total Comprehensive Earnings 3,791 8 3,799 Balance December 31, 2023 $ 12,133 $ 9,790 $ (312) $ (148) $ (181) $ 33 $ 11,985 $ 9,609 $ (279) Quarterly Periods: (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2022 $ 12,625 $ 10,363 $ (388) $ (156) $ (134) $ (22) $ 12,469 $ 10,229 $ (410) Net Earnings 987 987 — (13) (13) — 974 974 — Total Comprehensive Earnings 989 (13) 976 Excise Tax on Net Share Repurchases — — — (10) (10) — (10) (10) — Balance March 31, 2023 $ 12,334 $ 10,092 $ (386) $ (179) $ (157) $ (22) $ 12,155 $ 9,935 $ (408) Net Earnings 996 996 — (12) (12) — 984 984 — Total Comprehensive Earnings 992 (12) 980 Excise Tax on Net Share Repurchases — — — (9) (9) — (9) (9) — Balance June 30, 2023 $ 12,274 $ 10,030 $ (390) $ (200) $ (178) $ (22) $ 12,074 $ 9,852 $ (412) Net Earnings 846 846 — (18) (18) — 828 828 — Total Comprehensive Earnings 864 (18) 846 Excise Tax on Net Share Repurchases (28) (28) — 19 19 — (9) (9) — Stock Option Exercises and Other 33 (1) — 1 1 — 34 — — Balance September 30, 2023 $ 11,954 $ 9,689 $ (372) $ (198) $ (176) $ (22) $ 11,756 $ 9,513 $ (394) (Dollars in Millions) As Previously Reported Adjustment As Revised Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Total Shareholders' Equity Retained Earnings Accumulated Other Comprehensive Loss Balance December 31, 2023 $ 12,133 $ 9,790 $ (312) $ (148) $ (181) $ 33 $ 11,985 $ 9,609 $ (279) Net Earnings 893 893 — (13) (13) — 880 880 — Total Comprehensive Earnings 899 (13) 886 Balance March 31, 2024 $ 12,602 $ 10,205 $ (306) $ (161) $ (194) $ 33 $ 12,441 $ 10,011 $ (273)

Nature of Operations and Sign_3

Nature of Operations and Significant Accounting Policies (Details) mi in Thousands	Sep. 30, 2024 state mi
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Rail route network, distance \| mi	20
Number of states rail network serves \| state	26

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic Earnings Per Share, Assuming Dilution (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended													6 Months Ended	9 Months Ended				12 Months Ended
	Sep. 30, 2024		Jun. 30, 2024	[1]	Mar. 31, 2024		Dec. 31, 2023	Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2023	Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net Earnings	$ 894	[1]	$ 963		$ 880	[1]	$ 882	$ 828	[2]	$ 984	[3]	$ 974	[3]	$ 1,958	$ 2,737	[2]	$ 2,786	[2]	$ 3,668	$ 4,114
Denominator:
Average Common Shares Outstanding (in shares)	1,936							1,994	[2]						1,946	[2]	2,022	[2]
Other Potentially Dilutive Common Shares (in shares)	4							5							4		5
Average Common Shares Outstanding, Assuming Dilution (in shares)	1,940							1,999	[2]						1,950	[2]	2,027	[2]
Net Earnings Per Share, Basic (in dollars per share)	$ 0.46				$ 0.45		$ 0.45	$ 0.42	[2]	$ 0.49		$ 0.47		$ 0.96	$ 1.41	[2]	$ 1.38	[2]	$ 1.83	$ 1.93
Net Earnings Per Share, Assuming Dilution (in dollars per share)	$ 0.46				$ 0.45		$ 0.45	$ 0.41	[2]	$ 0.49		$ 0.47		$ 0.96	$ 1.40	[2]	$ 1.37	[2]	$ 1.82	$ 1.92

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Total Average Outstanding Stock Options Excluded from Diluted Earnings Per Share Calculation (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Stock Options Excluded from Diluted EPS (in shares)	3	3	3	4

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - USD ($) $ / shares in Units, $ in Billions	1 Months Ended	3 Months Ended
	Feb. 29, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Oct. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Increase in quarterly dividend percentage	9%
Common stock dividends (in dollars per share)		$ 0.12	$ 0.12	$ 0.12	$ 0.11	$ 0.11	$ 0.11
Share Repurchase Program October 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share repurchase program amount								$ 5
Remaining share repurchase authority amount		$ 3.6

Earnings Per Share - Schedule_3

Earnings Per Share - Schedule of Share Repurchase (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023
Earnings Per Share [Abstract]
Shares Repurchased (in shares)	12	31	35		94
Cost of Shares (Dollars in Millions)	$ 402	$ 971	$ 1,212	[1]	$ 2,901	[1]

[1]See Note 11, Revision of Prior Period Financial Statements.

Stock Plans and Share-Based C_3

Stock Plans and Share-Based Compensation - Schedule of Pre-tax Expense and Income Tax Benefits Associated with Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	$ 16	$ 15	$ 45	$ 45
Income Tax Benefit	4	3	12	10
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	7	5	21	14
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	4	5	7	14
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	3	3	9	9
Employee Stock Purchase Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	2	2	6	6
Stock Awards for Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	$ 0	$ 0	$ 2	$ 2

Stock Plans and Share-Based C_4

Stock Plans and Share-Based Compensation - Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award (Details) - Long-term Incentive Plans shares in Thousands	1 Months Ended
	Feb. 29, 2024 $ / shares shares
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares) \| shares	605
Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 38.66
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares) \| shares	601
Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 36.72
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares) \| shares	957
Weighted average grant date fair value, options (in dollars per share) \| $ / shares	$ 11.57

Stock Plans and Share-Based C_5

Stock Plans and Share-Based Compensation - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 shares
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Performance units \| LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of grants with performance vesting, average annual operating income growth	0.50
Percentage of grants with performance vesting, cumulative free cash flow	50%
Performance units \| LTIP \| Certain Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of payout subject to upward or downward adjustment (up to)	0.25
Performance units \| LTIP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage range for participants	0%
Performance units \| LTIP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage range for participants	200%
Performance units \| LTIP \| Maximum \| Certain Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage range for participants	250%
Stock Options \| LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Term of stock options (in years)	10 years
Restricted Stock Units \| LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Number of equivalent shares of CSX common stock per unit of award (in shares)	1

Casualty, Environmental and O_3

Casualty, Environmental and Other Reserves - Schedule of Casualty, Environmental and Other Reserves (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Current	$ 147	$ 144	[1]
Long-term	309	296	[1]
Total	456	440
Total Casualty
Loss Contingencies [Line Items]
Current	62	52
Long-term	149	143
Total	211	195
Personal Injury
Loss Contingencies [Line Items]
Current	51	45
Long-term	91	83
Total	142	128
Occupational
Loss Contingencies [Line Items]
Current	11	7
Long-term	58	60
Total	69	67
Environmental
Loss Contingencies [Line Items]
Current	36	41
Long-term	111	113
Total	147	154
Other
Loss Contingencies [Line Items]
Current	49	51
Long-term	49	40
Total	$ 98	$ 91

[1]See Note 11, Revision of Prior Period Financial Statements.

Casualty, Environmental and O_4

Casualty, Environmental and Other Reserves - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) site claim
Casualty
All Contingencies Reserves [Line Items]
Self-insured retention amount, per occurrence \| $	$ 100,000,000
Number of individual claims expected to exceed self insured retention amount \| claim	0
Environmental
All Contingencies Reserves [Line Items]
Environmental impaired sites \| site	230

Commitments and Contingencies (

Commitments and Contingencies (Details)					1 Months Ended		9 Months Ended
Commitments and Contingencies (Details)	Jan. 31, 2024 USD ($) party	Mar. 24, 2023 defendant	Mar. 02, 2023 mi	Jun. 30, 2018 defendant	Mar. 31, 2016 mi	May 31, 2007 entity	Sep. 30, 2024 USD ($) mi	Mar. 02, 2022 party
Loss Contingencies [Line Items]
Casualty and catastrophic property deductible							$ 150,000,000
Casualty and non catastrophic property deductible							$ 125,000,000
Environmental
Loss Contingencies [Line Items]
Number of miles pertaining to passaic river tidal reach required to be studied by EPA \| mi							17
Number of lower miles under study \| mi					8
Number of upper miles under study \| mi			9
Number of parties liable \| party								8
Number of parties participating in modified CD \| party	82
Number of parties \| defendant		37		110
Environmental \| Other Defendants
Loss Contingencies [Line Items]
Amount awarded to other party	$ 150,000,000
Pending Litigation \| Fuel Surcharge Antitrust Litigation
Loss Contingencies [Line Items]
Class action lawsuits filed against U.S.-based Class I railroads, excluding CSXT (number of entities) \| entity						3
Minimum \| Pending Litigation
Loss Contingencies [Line Items]
Possible loss for certain legal proceedings							$ 3,000,000
Maximum \| Pending Litigation
Loss Contingencies [Line Items]
Possible loss for certain legal proceedings							67,000,000
Total Casualty
Loss Contingencies [Line Items]
Self-insured retention amount, per occurrence (up to)							$ 100,000,000

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Components of Net Periodic Benefit Costs (Details) - Pension Benefits Cost - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of expense/ (income) related to net benefit expense:
Service Cost Included in Labor and Fringe	$ 6	$ 6	$ 18	$ 18
Interest Cost	27	28	80	84
Expected Return on Plan Assets	(42)	(41)	(127)	(123)
Amortization of Net Loss	5	7	14	21
Total Included in Other Income - Net	(10)	(6)	(33)	(18)
Net Periodic Benefit Credit	$ (4)	$ 0	$ (15)	$ 0

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details)	Sep. 30, 2024 USD ($)
Retirement Benefits [Abstract]
Expected contributions to the Company's qualified pension plans in 2024	$ 0

Debt and Credit Agreements - Sc

Debt and Credit Agreements - Schedule of Activity Related to Long-Term Debt (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Movement, Debt Instruments [Roll Forward]
Long-term Debt as of December 31, 2023, Current Portion	[1]	$ 558
Long-term Debt as of December 31, 2023, Long-term Portion	[1]	17,975
Long-term Debt as of December 31, 2023, Total		18,533
Long-term Debt Issued (Note 7)	[2]	550	$ 600
Long-term Debt Repaid	[2]	(556)	$ (150)
Reclassifications		0
Hedging, Discount, Premium and Other Activity		14
Long-term Debt as of September 30, 2024, Current Portion		6
Long-term Debt as of September 30, 2024, Long-term Portion		18,535
Long-term Debt as of September 30, 2024, Total		18,541
Current Portion
Movement, Debt Instruments [Roll Forward]
Long-term Debt as of December 31, 2023, Current Portion		558
Long-term Debt Issued (Note 7)		0
Long-term Debt Repaid		(556)
Reclassifications		4
Hedging, Discount, Premium and Other Activity		0
Long-term Debt as of September 30, 2024, Current Portion		6
Long-term Portion
Movement, Debt Instruments [Roll Forward]
Long-term Debt as of December 31, 2023, Long-term Portion		17,975
Long-term Debt Issued (Note 7)		550
Long-term Debt Repaid		0
Reclassifications		(4)
Hedging, Discount, Premium and Other Activity		14
Long-term Debt as of September 30, 2024, Long-term Portion		$ 18,535

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.

Debt and Credit Agreements - Na

Debt and Credit Agreements - Narrative (Details)

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Jun. 30, 2024 USD ($)

Mar. 31, 2024 USD ($)

Dec. 31, 2023 USD ($) swap

Sep. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

Mar. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Mar. 31, 2022 USD ($) swap

Jun. 30, 2023 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Sep. 18, 2024 USD ($)

Line of Credit Facility

Other operating activities

$ (16,000,000)

$ (35,000,000)

$ 18,000,000

$ (35,000,000)

[1]

$ 67,000,000

[1]

$ (7,000,000)

$ (16,000,000)

Commercial Paper

Line of Credit Facility

Maximum borrowing capacity of credit facility

1,000,000,000

Borrowings outstanding

4.900% Notes Due 2055

Line of Credit Facility

Debt issued

$ 550,000,000

Debt interest rate

4.90%

Fixed Rate Notes Due 2033

Line of Credit Facility

Debt issued

$ 250,000,000

250,000,000

Fixed Rate Notes Due Between 2036 and 2040

Line of Credit Facility

Debt issued

$ 1,050,000,000

$ 800,000,000

1,050,000,000

3.25% Notes Due 2027

Line of Credit Facility

Debt issued

$ 850,000,000

Debt interest rate

3.25%

Unsecured Revolving Credit Facility Due 2028 | Credit Facility

Line of Credit Facility

Maximum borrowing capacity of credit facility

$ 1,200,000,000

Borrowings outstanding

Two Separate Fixed-to-Floating Interest Rate Swaps | Fair Value Hedging

Line of Credit Facility

Derivative, number of fair value hedges | swap

Derivative, term of contract (in years)

10 years

Two Separate Fixed-to-Floating Interest Rate Swaps | Designated as Hedging Instrument | Fair Value Hedging

Line of Credit Facility

Interest rate fair value hedge asset at fair value

$ 19,000,000

21,000,000

19,000,000

Fixed-to-Floating Interest Rate Swap | Fair Value Hedging

Line of Credit Facility

Derivative, number of fair value hedges | swap

Derivative, term of contract (in years)

10 years

Fixed-to-Floating Interest Rate Swap | Designated as Hedging Instrument | Fair Value Hedging

Line of Credit Facility

Fair value hedge derivative instrument liabilities at fair value

107,000,000

99,000,000

107,000,000

Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedge

Line of Credit Facility

Aggregate notional value of interest forward interest rate swap

114,000,000

500,000,000

114,000,000

Cash flow hedge derivative instrument assets at fair value

$ 48,000,000

Derivative asset, notional amount settled

$ 114,000,000

$ 113,000,000

$ 160,000,000

$ 113,000,000

$ 160,000,000

Other operating activities

$ 52,000,000

$ 51,000,000

$ 44,000,000

$ 52,000,000

Derivative asset, unsettled notional amount

$ 0

[1]See Note 11, Revision of Prior Period Financial Statements.

Debt and Credit Agreements - _2

Debt and Credit Agreements - Schedule of Interest Rate Derivatives (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Mar. 31, 2022
Fixed-to-Floating Interest Rate Swap \| Fair Value Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Fair Value Asset Adjustment to Hedged Notes	$ 21,000,000	$ 19,000,000
Fair Value Liability Adjustment to Hedged Notes	(99,000,000)	(107,000,000)
Carrying Amount of Hedged Notes	972,000,000	962,000,000
Fixed Rate Notes Due Between 2036 and 2040
Derivative [Line Items]
Notional Value of Hedged Notes	$ 1,050,000,000	$ 1,050,000,000	$ 800,000,000

Debt and Credit Agreements - _3

Debt and Credit Agreements - Schedule of Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fixed-to-Floating Interest Rate Swap
Derivative [Line Items]
Interest Expense Impact (Increase) Decrease	$ (8)	$ (7)	$ (24)	$ (19)

Debt and Credit Agreements - _4

Debt and Credit Agreements - Schedule of Unrealized Amounts Related to Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash Flow Hedge
Derivative [Line Items]
Unrealized Gain - Net	$ 0	$ 14	$ 3	$ 4

Revenues - Schedule of Revenues

Revenues - Schedule of Revenues Disaggregated by Lines of Business (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023		Sep. 30, 2024		Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 3,619	$ 3,572	[1]	$ 11,001	[1]	$ 10,977	[1]
Total Merchandise
Disaggregation of Revenue [Line Items]
Revenue	2,231	2,112		6,712		6,471
Chemicals
Disaggregation of Revenue [Line Items]
Revenue	727	646		2,142		1,938
Agricultural and Food Products
Disaggregation of Revenue [Line Items]
Revenue	416	376		1,229		1,228
Automotive
Disaggregation of Revenue [Line Items]
Revenue	301	308		930		905
Forest Products
Disaggregation of Revenue [Line Items]
Revenue	259	243		790		761
Metals and Equipment
Disaggregation of Revenue [Line Items]
Revenue	208	225		658		704
Minerals
Disaggregation of Revenue [Line Items]
Revenue	202	190		583		554
Fertilizers
Disaggregation of Revenue [Line Items]
Revenue	118	124		380		381
Coal
Disaggregation of Revenue [Line Items]
Revenue	553	594		1,748		1,864
Intermodal
Disaggregation of Revenue [Line Items]
Revenue	509	517		1,521		1,508
Trucking
Disaggregation of Revenue [Line Items]
Revenue	214	218		650		678
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 112	$ 131		$ 370		$ 456

[1]See Note 11, Revision of Prior Period Financial Statements.

Revenues - Schedule of Accounts

Revenues - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Accounts Receivable - Net	$ 1,413	$ 1,393
Freight Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	1,045	1,047
Allowance for credit losses	(17)	(18)
Total Accounts Receivable - Net	1,028	1,029
Non-Freight Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	398	378
Allowance for credit losses	(13)	(14)
Total Accounts Receivable - Net	$ 385	$ 364

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Investment Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	$ 144	$ 181
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Amortized Cost	144	184
Level 1 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	2	80
Level 1 \| Fair Value \| Fixed Income Mutual Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	80
Level 1 \| Fair Value \| Exchange-traded Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	2	0
Level 1 \| Fair Value \| Corporate Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	0
Level 1 \| Fair Value \| Asset-backed Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	0
Level 1 \| Fair Value \| Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	0
Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	144	101
Level 2 \| Fair Value \| Fixed Income Mutual Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	0
Level 2 \| Fair Value \| Exchange-traded Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	0
Level 2 \| Fair Value \| Corporate Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	76	60
Level 2 \| Fair Value \| Asset-backed Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	28	1
Level 2 \| Fair Value \| Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	40	40
Total \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	146	181
Total \| Fair Value \| Fixed Income Mutual Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	0	80
Total \| Fair Value \| Exchange-traded Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	2	0
Total \| Fair Value \| Corporate Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	76	60
Total \| Fair Value \| Asset-backed Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	28	1
Total \| Fair Value \| Government Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Investments at Fair Value	$ 40	$ 40

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Investment Maturities (Details) - Fair Value - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Less than 1 year	$ 12	$ 83
1 - 5 years	69	37
5 - 10 years	16	17
Greater than 10 years	47	44
Total Investments at Fair Value	$ 144	$ 181

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Fair Value and Carrying Value of Long-Term Debt (Details) - Level 2 - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including current maturities)	$ 17,619	$ 17,528
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including current maturities)	$ 18,541	$ 18,533

Fair Value Measurements - Inter

Fair Value Measurements - Interest Rate Derivatives (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Two Separate Fixed-to-Floating Interest Rate Swaps \| Fair Value Hedging
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate fair value hedge asset at fair value	$ 21	$ 19
Fixed-to-Floating Interest Rate Swap \| Fair Value Hedging
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value hedge derivative instrument liabilities at fair value	99	107
Forward Starting Interest Rate Swap \| Cash Flow Hedge
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash flow hedge derivative instrument assets at fair value	0	$ 48
Cash flow hedge derivative instrument liabilities at fair value	$ 0

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Equity [Abstract]

Total comprehensive earnings, net of tax

$ 895

[1]

$ 966

[1]

$ 886

[1]

$ 997

$ 846

[2]

$ 980

[2]

$ 976

[2]

$ 1,956

$ 2,747

[3]

$ 2,802

[3]

$ 3,799

$ 4,080

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Schedule of Changes in AOCI balance by Component (Details) - USD ($) $ in Millions	3 Months Ended												9 Months Ended	12 Months Ended
	Sep. 30, 2024		Jun. 30, 2024	[1]	Mar. 31, 2024		Sep. 30, 2023	[2]	Jun. 30, 2023	[2]	Mar. 31, 2023	[2]	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Comprehensive Income (Loss)
Income Before Reclassifications													$ 4
Amounts Reclassified to Net Earnings													9
Tax Expense													(3)
Total Other Comprehensive Income	$ 1	[1]	$ 3		$ 6	[1]	$ 18		$ (4)		$ 2		10	$ 131	$ (34)
Pension and Other Post-Employment Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance December 31, 2023, Net of Tax					(390)								(390)
Other Comprehensive Income (Loss)
Income Before Reclassifications													0
Amounts Reclassified to Net Earnings													8
Tax Expense													(2)
Total Other Comprehensive Income													6
Balance September 30, 2024, Net of Tax	(384)												(384)	(390)
Interest Rate Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance December 31, 2023, Net of Tax					150								150
Other Comprehensive Income (Loss)
Income Before Reclassifications													4
Amounts Reclassified to Net Earnings													0
Tax Expense													(1)
Total Other Comprehensive Income													3
Balance September 30, 2024, Net of Tax	153												153	150
Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance December 31, 2023, Net of Tax					(39)								(39)
Other Comprehensive Income (Loss)
Income Before Reclassifications													0
Amounts Reclassified to Net Earnings													1
Tax Expense													0
Total Other Comprehensive Income													1
Balance September 30, 2024, Net of Tax	(38)												(38)	(39)
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance December 31, 2023, Net of Tax					(279)								(279)
Other Comprehensive Income (Loss)
Total Other Comprehensive Income	1	[1],[3]	$ 3	[3]	$ 6	[1],[3]	$ 18	[4]	$ (4)	[4]	$ 2	[4]		131	$ (34)
Balance September 30, 2024, Net of Tax	$ (269)												$ (269)	$ (279)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $74 million as of December 31, 2023, $72 million as of March 31, 2024, $72 million as of June 30, 2024 and $71 million as of September 30, 2024. For additional information, see Note 10, Other Comprehensive Income.[4]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $129 million as of December 31, 2022, $128 million as of March 31, 2023, $114 million as of June 30, 2023 and $108 million as of September 30, 2023. For additional information, see Note 10, Other Comprehensive Income.

Revision of Prior Period Fina_3

Revision of Prior Period Financial Statements - Schedule of Consolidated Income (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended													6 Months Ended	9 Months Ended				12 Months Ended
	Sep. 30, 2024		Jun. 30, 2024	[2]	Mar. 31, 2024		Dec. 31, 2023	Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2023	Sep. 30, 2024	[1]	Sep. 30, 2023		Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Labor and Fringe	$ 806				$ 805		$ 814	$ 761	[1]	$ 748		$ 729		$ 1,477	$ 2,377		$ 2,238	[1]	$ 3,052	$ 2,885
Purchased Services and Other	675				721		714	700	[1]	691		697		1,388	2,095		2,088	[1]	2,802	2,728
Depreciation and Amortization	416						405	403	[1]	404		395		799	1,236		1,202	[1]	1,607	1,502
Total Expense	2,265				2,344		2,365	2,301	[1]	2,233		2,259		4,492	6,862		6,793	[1]	9,158	8,899
Operating Income	1,354				1,337		1,315	1,271	[1]	1,466		1,447		2,913	4,139		4,184	[1]	5,499	5,954
Earnings Before Income Taxes	1,184				1,168		1,144	1,102	[1]	1,296		1,287		2,583	3,619		3,685	[1]	4,829	5,345
Income Tax Expense	(290)				(288)		(262)	(274)	[1]	(312)		(313)		(625)	(882)		(899)	[1]	(1,161)	(1,231)
Net Earnings	$ 894	[2]	$ 963		$ 880	[2]	$ 882	$ 828	[1]	$ 984	[3]	$ 974	[3]	$ 1,958	$ 2,737		$ 2,786	[1]	$ 3,668	$ 4,114
Net Earnings Per Share, Basic (in dollars per share)	$ 0.46				$ 0.45		$ 0.45	$ 0.42	[1]	$ 0.49		$ 0.47		$ 0.96	$ 1.41		$ 1.38	[1]	$ 1.83	$ 1.93
Net Earnings Per Share, Assuming Dilution (in dollars per share)	$ 0.46				$ 0.45		$ 0.45	$ 0.41	[1]	$ 0.49		$ 0.47		$ 0.96	$ 1.40		$ 1.37	[1]	$ 1.82	$ 1.92
Total Comprehensive Earnings (Note 10)	$ 895	[2]	$ 966		$ 886	[2]	$ 997	$ 846	[3]	$ 980	[3]	$ 976	[3]	$ 1,956	$ 2,747		$ 2,802	[1]	$ 3,799	$ 4,080
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Labor and Fringe					798		808	752		741		723		1,464			2,216		3,024	2,861
Purchased Services and Other					711		703	689		684		688		1,372			2,061		2,764	2,685
Depreciation and Amortization							417	399		402		393		795			1,194		1,611	1,500
Total Expense					2,327		2,360	2,277		2,217		2,242		4,459			6,736		9,096	8,830
Operating Income					1,354		1,320	1,295		1,482		1,464		2,946			4,241		5,561	6,023
Earnings Before Income Taxes					1,185		1,149	1,126		1,312		1,304		2,616			3,742		4,891	5,414
Income Tax Expense					(292)		(263)	(280)		(316)		(317)		(633)			(913)		(1,176)	(1,248)
Net Earnings					$ 893		$ 886	$ 846		$ 996		$ 987		$ 1,983			$ 2,829		$ 3,715	$ 4,166
Net Earnings Per Share, Basic (in dollars per share)					$ 0.46		$ 0.45	$ 0.42		$ 0.49		$ 0.48		$ 0.97			$ 1.40		$ 1.85	$ 1.95
Net Earnings Per Share, Assuming Dilution (in dollars per share)					$ 0.46		$ 0.45	$ 0.42		$ 0.49		$ 0.48		$ 0.97			$ 1.40		$ 1.85	$ 1.95
Total Comprehensive Earnings (Note 10)					$ 899		$ 946	$ 864		$ 992		$ 989		$ 1,981			$ 2,845		$ 3,791	$ 4,186
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Labor and Fringe					7		6	9		7		6		13			22		28	24
Purchased Services and Other					10		11	11		7		9		16			27		38	43
Depreciation and Amortization							(12)	4		2		2		4			8		(4)	2
Total Expense					17		5	24		16		17		33			57		62	69
Operating Income					(17)		(5)	(24)		(16)		(17)		(33)			(57)		(62)	(69)
Earnings Before Income Taxes					(17)		(5)	(24)		(16)		(17)		(33)			(57)		(62)	(69)
Income Tax Expense					4		1	6		4		4		8			14		15	17
Net Earnings					$ (13)		$ (4)	$ (18)		$ (12)		$ (13)		$ (25)			$ (43)		$ (47)	$ (52)
Net Earnings Per Share, Basic (in dollars per share)					$ (0.01)		$ 0	$ 0		$ 0		$ (0.01)		$ (0.01)			$ (0.02)		$ (0.02)	$ (0.02)
Net Earnings Per Share, Assuming Dilution (in dollars per share)					$ (0.01)		$ 0	$ (0.01)		$ 0		$ (0.01)		$ (0.01)			$ (0.03)		$ (0.03)	$ (0.03)
Total Comprehensive Earnings (Note 10)					$ (13)		$ 51	$ (18)		$ (12)		$ (13)		$ (25)			$ (43)		$ 8	$ (106)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Fina_4

Revision of Prior Period Financial Statements - Schedule of Comprehensive Statement (Details) - USD ($) $ in Millions	3 Months Ended													6 Months Ended	9 Months Ended				12 Months Ended
	Sep. 30, 2024	[1]	Jun. 30, 2024	[1]	Mar. 31, 2024		Dec. 31, 2023	Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2023	Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Earnings	$ 894		$ 963		$ 880	[1]	$ 882	$ 828	[2]	$ 984	[3]	$ 974	[3]	$ 1,958	$ 2,737	[2]	$ 2,786	[2]	$ 3,668	$ 4,114
Other Comprehensive Income (Loss) - Net of Tax: Pension and Other Post-Employment Benefits																			129	(120)
Total Other Comprehensive Income	1		3		6	[1]		18	[3]	(4)	[3]	2	[3]		10				131	(34)
Total Comprehensive Earnings (Note 10)	$ 895		$ 966		886	[1]	997	846	[3]	980	[3]	976	[3]	1,956	$ 2,747	[2]	2,802	[2]	3,799	4,080
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Earnings					893		886	846		996		987		1,983			2,829		3,715	4,166
Other Comprehensive Income (Loss) - Net of Tax: Pension and Other Post-Employment Benefits																			74	(66)
Total Other Comprehensive Income																			76	20
Total Comprehensive Earnings (Note 10)					899		946	864		992		989		1,981			2,845		3,791	4,186
Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Earnings					(13)		(4)	(18)		(12)		(13)		(25)			(43)		(47)	(52)
Other Comprehensive Income (Loss) - Net of Tax: Pension and Other Post-Employment Benefits																			55	(54)
Total Other Comprehensive Income																			55	(54)
Total Comprehensive Earnings (Note 10)					$ (13)		$ 51	$ (18)		$ (12)		$ (13)		$ (25)			$ (43)		$ 8	$ (106)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Fina_5

Revision of Prior Period Financial Statements - Schedule of Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2024		Jun. 30, 2024	[3]	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Current Assets:
Cash and Cash Equivalents	$ 1,644	[1]					$ 1,353	[2]	$ 1,360	[1]	$ 956		$ 1,291		$ 1,933	[1]	$ 2,239
Materials and Supplies	415				$ 445		440	[2]	427
Other Current Assets	93				117		90	[2]	75		107		99		91
Total Current Assets	3,577				3,447		3,359	[2]	3,340		2,895		3,339		3,807
Properties	51,503				50,617		50,281	[2]	49,691		49,241		48,780		48,463
Accumulated Depreciation	(16,333)				(15,792)		(15,560)	[2]	(15,250)		(14,974)		(14,681)		(14,393)
Properties - Net	35,170				34,825		34,721	[2]	34,441		34,267		34,099		34,070
Other Long-term Assets	795				759		731	[2]	439		473		516		506
Total Assets	43,069				42,482		42,212	[2]	41,589		40,979		41,256		41,682
Current Liabilities:
Income and Other Taxes Payable	379				381		524	[2]	361
Labor and Fringe Benefits Payable	470						517	[2]			444		367		682
Other Current Liabilities	266						243	[2]			226		238		228
Total Current Liabilities	2,569				3,023		3,223	[2]	2,934		2,074		2,331		2,446
Deferred Income Taxes - Net	7,721				7,708		7,699	[2]	7,637		7,605		7,552		7,520
Total Liabilities	30,133				30,041		30,227	[2]	29,833		28,905		29,101		29,213
Shareholders' Equity:
Retained Earnings	10,457				10,011		9,609	[2]	9,513		9,852		9,935		10,229
Accumulated Other Comprehensive Loss	(269)				(273)		(279)	[2]	(394)		(412)		(408)		(410)
Total Shareholders' Equity	12,936	[3]	$ 12,620		12,441	[3]	11,985	[2]	11,756	[4]	12,074	[4]	12,155	[4]	12,469	[4]	13,451
Total Liabilities and Shareholders' Equity	$ 43,069				42,482		42,212	[2]	41,589		40,979		41,256		41,682
As Previously Reported
Current Assets:
Cash and Cash Equivalents							1,353		1,360		956		1,291		1,958		2,239
Materials and Supplies					451		446		427
Other Current Assets					136		109		94		123		115		108
Total Current Assets					3,472		3,384		3,359		2,911		3,355		3,849
Properties					50,661		50,320		49,118		48,970		48,441		48,105
Accumulated Depreciation					(15,605)		(15,385)		(14,462)		(14,493)		(14,148)		(13,863)
Properties - Net					35,056		34,935		34,656		34,477		34,293		34,242
Other Long-term Assets					716		688		466		485		528		522
Total Assets					42,695		42,408		41,850		41,217		41,478		41,912
Current Liabilities:
Income and Other Taxes Payable					382		525		361
Labor and Fringe Benefits Payable											444		367		707
Other Current Liabilities											207		228		228
Total Current Liabilities					3,024		3,224		2,934		2,055		2,321		2,471
Deferred Income Taxes - Net					7,759		7,746		7,700		7,662		7,605		7,569
Total Liabilities					30,093		30,275		29,896		28,943		29,144		29,287
Shareholders' Equity:
Retained Earnings					10,205		9,790		9,689		10,030		10,092		10,363
Accumulated Other Comprehensive Loss					(306)		(312)		(372)		(390)		(386)		(388)
Total Shareholders' Equity					12,602		12,133		11,954		12,274		12,334		12,625		13,500
Total Liabilities and Shareholders' Equity					42,695		42,408		41,850		41,217		41,478		41,912
Adjustment
Current Assets:
Cash and Cash Equivalents							0		0		0		0		(25)		0
Materials and Supplies					(6)		(6)		0
Other Current Assets					(19)		(19)		(19)		(16)		(16)		(17)
Total Current Assets					(25)		(25)		(19)		(16)		(16)		(42)
Properties					(44)		(39)		573		271		339		358
Accumulated Depreciation					(187)		(175)		(788)		(481)		(533)		(530)
Properties - Net					(231)		(214)		(215)		(210)		(194)		(172)
Other Long-term Assets					43		43		(27)		(12)		(12)		(16)
Total Assets					(213)		(196)		(261)		(238)		(222)		(230)
Current Liabilities:
Income and Other Taxes Payable					(1)		(1)		0
Labor and Fringe Benefits Payable											0		0		(25)
Other Current Liabilities											19		10		0
Total Current Liabilities					(1)		(1)		0		19		10		(25)
Deferred Income Taxes - Net					(51)		(47)		(63)		(57)		(53)		(49)
Total Liabilities					(52)		(48)		(63)		(38)		(43)		(74)
Shareholders' Equity:
Retained Earnings					(194)		(181)		(176)		(178)		(157)		(134)
Accumulated Other Comprehensive Loss					33		33		(22)		(22)		(22)		(22)
Total Shareholders' Equity					(161)		(148)		(198)		(200)		(179)		(156)		$ (49)
Total Liabilities and Shareholders' Equity					$ (213)		$ (196)		$ (261)		$ (238)		$ (222)		$ (230)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.[4]See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Fina_6

Revision of Prior Period Financial Statements - Schedule of Consolidated Cash Flow Statements (Details) - USD ($) $ in Millions	3 Months Ended														6 Months Ended		9 Months Ended				12 Months Ended
	Sep. 30, 2024		Jun. 30, 2024	[1]	Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2023		Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023		Dec. 31, 2022
OPERATING ACTIVITIES
Net Earnings	$ 894	[1]	$ 963		$ 880	[1]	$ 882		$ 828	[2]	$ 984	[3]	$ 974	[3]	$ 1,958		$ 2,737	[2]	$ 2,786	[2]	$ 3,668		$ 4,114
Depreciation and Amortization	416						405		403	[2]	404		395		799		1,236	[2]	1,202	[2]	1,607		1,502
Deferred Income Taxes					7								31		70		19	[4]	97	[4]	126		100
Other Operating Activities					(16)								(35)		18		(35)	[4]	67	[4]	(7)		(16)
Changes in Other Current Assets													(73)		(106)		27	[4]	(84)	[4]	(112)		(24)
Changes in Income and Other Taxes Payable													266		33		(148)	[4]	267	[4]	430		88
Changes in Other Current Liabilities													(301)		(267)		(33)	[4]	(271)	[4]	(196)
Net Cash Provided by Operating Activities					1,066								1,256		2,473		3,859	[4]	4,025	[4]	5,514		5,526
INVESTING ACTIVITIES
Property Additions					(517)								(432)		(997)		(1,691)	[4]	(1,571)	[4]	(2,257)		(2,113)
Proceeds and Advances from Property Dispositions					11								17		52		50	[4]	65	[4]	88		294
Net Cash Used In Investing Activities					(486)								(460)		(945)		(1,722)	[4]	(1,506)	[4]	(2,227)		(2,063)
Net Increase (Decrease) in Cash and Cash Equivalents													(642)		(977)		291	[4]	(573)	[4]	(580)		(306)
CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents at Beginning of Period					1,353	[5]	1,360	[4]	956		1,291		1,933	[4]	1,933	[4]	1,353	[5]	1,933	[4]	1,933	[4]	2,239
Cash and Cash Equivalents at End of Period	$ 1,644	[4]					1,353	[5]	1,360	[4]	956		1,291		956		1,644	[4]	1,360	[4]	1,353	[5]	1,933	[4]
As Previously Reported
OPERATING ACTIVITIES
Net Earnings					893		886		846		996		987		1,983				2,829		3,715		4,166
Depreciation and Amortization							417		399		402		393		795				1,194		1,611		1,500
Deferred Income Taxes					11								35		78				111		140		117
Other Operating Activities					(15)								(31)		23				69		(5)		(17)
Changes in Other Current Assets													(72)		(105)				(86)		(120)		(22)
Changes in Income and Other Taxes Payable													266		33				267		431		113
Changes in Other Current Liabilities													(326)		(292)				(296)		(221)
Net Cash Provided by Operating Activities					1,084								1,251		2,483				4,049		5,549		5,619
INVESTING ACTIVITIES
Property Additions					(524)								(443)		(1,015)				(1,590)		(2,281)		(2,133)
Proceeds and Advances from Property Dispositions					0								8		35				35		52		246
Net Cash Used In Investing Activities					(504)								(480)		(980)				(1,555)		(2,287)		(2,131)
Net Increase (Decrease) in Cash and Cash Equivalents													(667)		(1,002)				(598)		(605)		(281)
CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents at Beginning of Period					1,353		1,360		956		1,291		1,958		1,958		1,353		1,958		1,958		2,239
Cash and Cash Equivalents at End of Period							1,353		1,360		956		1,291		956				1,360		1,353		1,958
Adjustment
OPERATING ACTIVITIES
Net Earnings					(13)		(4)		(18)		(12)		(13)		(25)				(43)		(47)		(52)
Depreciation and Amortization							(12)		4		2		2		4				8		(4)		2
Deferred Income Taxes					(4)								(4)		(8)				(14)		(14)		(17)
Other Operating Activities					(1)								(4)		(5)				(2)		(2)		1
Changes in Other Current Assets													(1)		(1)				2		8		(2)
Changes in Income and Other Taxes Payable													0		0				0		(1)		(25)
Changes in Other Current Liabilities													25		25				25		25
Net Cash Provided by Operating Activities					(18)								5		(10)				(24)		(35)		(93)
INVESTING ACTIVITIES
Property Additions					7								11		18				19		24		20
Proceeds and Advances from Property Dispositions					11								9		17				30		36		48
Net Cash Used In Investing Activities					18								20		35				49		60		68
Net Increase (Decrease) in Cash and Cash Equivalents													25		25				25		25		(25)
CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents at Beginning of Period					$ 0		0		0		0		(25)		(25)		$ 0		(25)		(25)		0
Cash and Cash Equivalents at End of Period							$ 0		$ 0		$ 0		$ 0		$ 0				$ 0		$ 0		$ (25)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.[4]See Note 11, Revision of Prior Period Financial Statements.[5]See Note 11, Revision of Prior Period Financial Statements.

Revision of Prior Period Fina_7

Revision of Prior Period Financial Statements - Schedule of Consolidated Statement of Changes in Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended														6 Months Ended		9 Months Ended				12 Months Ended
	Sep. 30, 2024	[1]	Jun. 30, 2024		Mar. 31, 2024		Dec. 31, 2023		Sep. 30, 2023		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2023		Sep. 30, 2024		Sep. 30, 2023		Dec. 31, 2023		Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 12,620		$ 12,441	[1]	$ 11,985	[2]	$ 11,756	[3]	$ 12,074	[3]	$ 12,155	[3]	$ 12,469	[3]	$ 12,469	[3]	$ 11,985	[2]	$ 12,469	[3]	$ 12,469	[3]	$ 13,451
Net Earnings	894		963	[1]	880	[1]	882		828	[4]	984	[3]	974	[3]	1,958		2,737	[4]	2,786	[4]	3,668		4,114
Other Comprehensive Income	1		3	[1]	6	[1]			18	[3]	(4)	[3]	2	[3]			10				131		(34)
Total Comprehensive Earnings (Note 10)	895		966	[1]	886	[1]	997		846	[3]	980	[3]	976	[3]	1,956		2,747	[4]	2,802	[4]	3,799		4,080
Stock Option Exercises and Other	59		15	[1]	53	[1]			34	[3]	33	[3]	13	[3]									99
Excise Tax on Net Share Repurchases	(4)		(6)	[1]	(1)	[1]			(9)	[3]	(9)	[3]	(10)	[3]
Ending Balance	12,936		12,620	[1]	12,441	[1]	11,985	[2]	11,756	[3]	12,074	[3]	12,155	[3]	12,074	[3]	12,936	[1]	11,756	[3]	11,985	[2]	12,469	[3]
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	10,189		10,011	[1]	9,609	[1]	9,513	[3]	9,852	[3]	9,935	[3]	10,229	[3]	10,229	[3]	9,609	[1]	10,229	[3]	10,229	[3]	11,549
Net Earnings	894		963	[1]	880	[1]			828	[3]	984	[3]	974	[3]							3,668		4,114
Stock Option Exercises and Other			1	[1]	(2)	[1]					(1)	[3]											(2)
Excise Tax on Net Share Repurchases	(4)		(6)	[1]	(1)	[1]			(9)	[3]	(9)	[3]	(10)	[3]
Ending Balance	10,457		10,189	[1]	10,011	[1]	9,609	[1]	9,513	[3]	9,852	[3]	9,935	[3]	9,852	[3]	10,457	[1]	9,513	[3]	9,609	[1]	10,229	[3]
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(270)	[5]	(273)	[1],[5]	(279)	[1],[5]	(394)	[3],[6]	(412)	[3],[6]	(408)	[3],[6]	(410)	[3],[6]	(410)	[3],[6]	(279)	[1],[5]	(410)	[3],[6]	(410)	[3],[6]	(376)
Other Comprehensive Income	1	[5]	3	[1],[5]	6	[1],[5]			18	[3],[6]	(4)	[3],[6]	2	[3],[6]							131		(34)
Ending Balance	$ (269)	[5]	(270)	[1],[5]	(273)	[1],[5]	(279)	[1],[5]	(394)	[3],[6]	(412)	[3],[6]	(408)	[3],[6]	(412)	[3],[6]	(269)	[1],[5]	(394)	[3],[6]	(279)	[1],[5]	(410)	[3],[6]
As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			12,602		12,133		11,954		12,274		12,334		12,625		12,625		12,133		12,625		12,625		13,500
Net Earnings					893		886		846		996		987		1,983				2,829		3,715		4,166
Other Comprehensive Income																					76		20
Total Comprehensive Earnings (Note 10)					899		946		864		992		989		1,981				2,845		3,791		4,186
Stock Option Exercises and Other									33														100
Excise Tax on Net Share Repurchases									(28)
Ending Balance					12,602		12,133		11,954		12,274		12,334		12,274				11,954		12,133		12,625
As Previously Reported \| Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			10,205		9,790		9,689		10,030		10,092		10,363		10,363		9,790		10,363		10,363		11,630
Net Earnings					893				846		996		987								3,715		4,166
Stock Option Exercises and Other									(1)														(1)
Excise Tax on Net Share Repurchases									(28)
Ending Balance					10,205		9,790		9,689		10,030		10,092		10,030				9,689		9,790		10,363
As Previously Reported \| Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(306)		(312)		(372)		(390)		(386)		(388)		(388)		(312)		(388)		(388)		(408)
Other Comprehensive Income																					76		20
Ending Balance					(306)		(312)		(372)		(390)		(386)		(390)				(372)		(312)		(388)
Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(161)		(148)		(198)		(200)		(179)		(156)		(156)		(148)		(156)		(156)		(49)
Net Earnings					(13)		(4)		(18)		(12)		(13)		(25)				(43)		(47)		(52)
Other Comprehensive Income																					55		(54)
Total Comprehensive Earnings (Note 10)					(13)		51		(18)		(12)		(13)		(25)				(43)		8		(106)
Stock Option Exercises and Other									1														(1)
Excise Tax on Net Share Repurchases									19		(9)		(10)
Ending Balance					(161)		(148)		(198)		(200)		(179)		(200)				(198)		(148)		(156)
Adjustment \| Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(194)		(181)		(176)		(178)		(157)		(134)		(134)		(181)		(134)		(134)		(81)
Net Earnings					(13)				(18)		(12)		(13)								(47)		(52)
Stock Option Exercises and Other									1														(1)
Excise Tax on Net Share Repurchases									19		(9)		(10)
Ending Balance					(194)		(181)		(176)		(178)		(157)		(178)				(176)		(181)		(134)
Adjustment \| Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 33		33		(22)		(22)		(22)		(22)		(22)		$ 33		(22)		(22)		32
Other Comprehensive Income																					55		(54)
Ending Balance					$ 33		$ 33		$ (22)		$ (22)		$ (22)		$ (22)				$ (22)		$ 33		$ (22)

[1]See Note 11, Revision of Prior Period Financial Statements.[2]See Note 11, Revision of Prior Period Financial Statements.[3]See Note 11, Revision of Prior Period Financial Statements.[4]See Note 11, Revision of Prior Period Financial Statements.[5]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $74 million as of December 31, 2023, $72 million as of March 31, 2024, $72 million as of June 30, 2024 and $71 million as of September 30, 2024. For additional information, see Note 10, Other Comprehensive Income.[6]Accumulated Other Comprehensive Loss balances shown above are net of tax. The associated taxes were $129 million as of December 31, 2022, $128 million as of March 31, 2023, $114 million as of June 30, 2023 and $108 million as of September 30, 2023. For additional information, see Note 10, Other Comprehensive Income.