CSX Corporation (CSX) financial statements: income statement, balance sheet and cash flow

CSX Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), CSX Corporation reported revenue of $14.1B (-3.1% year on year) and net income of $2.9B (-16.7% year on year).

Income statement

CSX Corporation income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenue	$14.1B	$14.5B	$14.7B	$14.9B
Labor and Fringe	$3.3B	$3.2B	$3.0B	$2.9B
Purchased Services and Other	$3.0B	$2.9B	$2.8B	$2.7B
Depreciation and Amortization	$1.7B	$1.7B	$1.6B	$1.5B
Fuel	$1.1B	$1.2B	$1.4B	$1.6B
Equipment and Other Rents	$357.0M	$355.0M	$354.0M	$396.0M
Goodwill Impairment (Note 18)	$164.0M	$108.0M	—	—
Total Expense	$9.6B	$9.3B	$9.1B	$8.8B
Operating Income	$4.5B	$5.2B	$5.6B	$6.0B
Interest Expense	($844.0M)	($832.0M)	($809.0M)	($742.0M)
Other Income - Net (Note 14)	$92.0M	$142.0M	$139.0M	$133.0M
Earnings Before Income Taxes	$3.8B	$4.6B	$4.9B	$5.4B
Income Tax Expense (Note 12)	($880.0M)	($1.1B)	($1.2B)	($1.2B)
Net Earnings	$2.9B	$3.5B	$3.7B	$4.2B
Basic (in dollars per share)	$1.54	$1.79	$1.85	$1.95
Assuming Dilution (in dollars per share)	$1.54	$1.79	$1.85	$1.95
Basic (in shares)	1.9B	1.9B	2.0B	2.1B
Assuming Dilution (in shares)	1.9B	1.9B	2.0B	2.1B

CSX Corporation income statement, quarters

Line item	Sep 30, 2026 · Q3	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3
Revenue	$4.0B	$3.9B	$3.5B	$3.6B
Labor and Fringe	$834.0M	$831.0M	$812.0M	$815.0M
Purchased Services and Other	$657.0M	$644.0M	$616.0M	$730.0M
Depreciation and Amortization	$413.0M	$411.0M	$415.0M	$424.0M
Fuel	$451.0M	$446.0M	$302.0M	$281.0M
Equipment and Other Rents	$92.0M	$97.0M	$84.0M	$86.0M
Goodwill Impairment	$0	—	—	$164.0M
Total Expense	$2.4B	$2.4B	$2.2B	$2.5B
Operating Income	$1.6B	$1.5B	$1.3B	$1.1B
Interest Expense	($207.0M)	($211.0M)	($213.0M)	($210.0M)
Other Income - Net	$21.0M	$25.0M	$23.0M	$21.0M
Earnings Before Income Taxes	$1.4B	$1.3B	$1.1B	$898.0M
Income Tax Expense	($332.0M)	($318.0M)	($256.0M)	($204.0M)
Net Earnings	$1.1B	$1.0B	$807.0M	$694.0M
Net Earnings Per Share, Basic (in dollars per share)	$0.57	$0.54	$0.43	$0.37
Net Earnings Per Share, Assuming Dilution (in dollars per share)	$0.57	$0.54	$0.43	$0.37
Average Shares Outstanding (in shares)	1.8B	1.9B	1.9B	1.9B
Average Shares Outstanding, Assuming Dilution (in shares)	1.9B	1.9B	1.9B	1.9B

Balance sheet

CSX Corporation balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and Cash Equivalents	$670.0M	$933.0M	$1.4B	$2.0B
Short-term Investments	$5.0M	$72.0M	$83.0M	$129.0M
Accounts Receivable - Net (Note 11)	$1.3B	$1.3B	$1.4B	$1.3B
Materials and Supplies	$390.0M	$414.0M	$446.0M	$341.0M
Other Current Assets	$187.0M	$75.0M	$109.0M	$108.0M
Total Current Assets	$2.5B	$2.8B	$3.4B	$3.8B
Properties	$53.8B	$52.2B	$50.3B	$48.1B
Accumulated Depreciation	($17.0B)	($16.5B)	($15.4B)	($13.9B)
Properties - Net (Note 6)	$36.8B	$35.7B	$34.9B	$34.2B
Investment in Affiliates and Other Companies (Note 15)	$2.6B	$2.5B	$2.4B	$2.3B
Right of Use Lease Asset (Note 7)	$464.0M	$487.0M	$498.0M	$505.0M
Goodwill and Other Intangible Assets - Net (Note 18)	$267.0M	$433.0M	$506.0M	$502.0M
Other Long-term Assets	$956.0M	$846.0M	$688.0M	$522.0M
Total Assets	$43.7B	$42.8B	$42.4B	$41.9B
Accounts Payable	$1.1B	$1.3B	$1.2B	$1.1B
Labor and Fringe Benefits Payable	$532.0M	$480.0M	$517.0M	$707.0M
Casualty, Environmental and Other Reserves (Note 5)	$184.0M	$149.0M	$144.0M	$144.0M
Current Maturities of Long-term Debt (Note 10)	$708.0M	$606.0M	$558.0M	$151.0M
Income and Other Taxes Payable	$118.0M	$508.0M	$525.0M	$111.0M
Interest Payable	$170.0M	—	—	—
Other Current Liabilities	$272.0M	$243.0M	$243.0M	$228.0M
Total Current Liabilities	$3.1B	$3.3B	$3.2B	$2.5B
Casualty, Environmental and Other Reserves (Note 5)	$295.0M	$313.0M	$296.0M	$292.0M
Long-term Debt (Note 10)	$18.2B	$17.9B	$18.0B	$17.9B
Deferred Income Taxes - Net (Note 12)	$7.9B	$7.7B	$7.7B	$7.6B
Long-term Lease Liability (Note 7)	$479.0M	$486.0M	$491.0M	$488.0M
Other Long-term Liabilities	$536.0M	$560.0M	$543.0M	$571.0M
Total Liabilities	$30.5B	$30.3B	$30.3B	$29.3B
Common Stock, $1 Par Value (Note 3)	$1.9B	$1.9B	$2.0B	$2.1B
Other Capital	$948.0M	$846.0M	$691.0M	$574.0M
Retained Earnings	$10.6B	$10.0B	$9.8B	$10.4B
Accumulated Other Comprehensive Loss (Note 16)	($213.0M)	($232.0M)	($312.0M)	($388.0M)
Non-controlling Minority Interest	$5.0M	$5.0M	$5.0M	$10.0M
Total Shareholders' Equity	$13.2B	$12.5B	$12.1B	$12.6B
Total Liabilities and Shareholders' Equity	$43.7B	$42.8B	$42.4B	$41.9B

CSX Corporation balance sheet, quarters

Line item	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025
Cash and Cash Equivalents	$1.2B	$1.0B	$964.0M	$612.0M
Short-term Investments (Note 9)	$382.0M	$383.0M	$145.0M	$6.0M
Accounts Receivable - Net (Note 8)	$1.5B	$1.5B	$1.4B	$1.4B
Materials and Supplies	$401.0M	$406.0M	$439.0M	$414.0M
Other Current Assets	$142.0M	$156.0M	$176.0M	$109.0M
Total Current Assets	$3.6B	$3.4B	$3.1B	$2.5B
Properties	$54.9B	$54.5B	$54.1B	$53.9B
Accumulated Depreciation	($17.8B)	($17.5B)	($17.3B)	($17.3B)
Properties - Net	$37.1B	$36.9B	$36.8B	$36.5B
Investment in Affiliates and Other Companies	$2.7B	$2.7B	$2.7B	$2.6B
Right-of-Use Lease Asset	$477.0M	$478.0M	$451.0M	$470.0M
Goodwill and Other Intangible Assets - Net	$258.0M	$261.0M	$264.0M	$270.0M
Other Long-term Assets	$937.0M	$958.0M	$937.0M	$896.0M
Total Assets	$45.2B	$44.7B	$44.2B	$43.3B
Accounts Payable	$1.1B	$1.1B	$1.1B	$1.3B
Labor and Fringe Benefits Payable	$566.0M	$549.0M	$414.0M	$439.0M
Casualty, Environmental and Other Reserves (Note 4)	$185.0M	$182.0M	$179.0M	$159.0M
Current Maturities of Long-term Debt (Note 7)	$1.7B	$1.7B	$710.0M	$608.0M
Income and Other Taxes Payable	$205.0M	$188.0M	$294.0M	$164.0M
Interest Payable	$245.0M	$172.0M	$243.0M	—
Other Current Liabilities	$269.0M	$250.0M	$266.0M	$252.0M
Total Current Liabilities	$4.3B	$4.2B	$3.2B	$3.0B
Casualty, Environmental and Other Reserves (Note 4)	$294.0M	$300.0M	$300.0M	$311.0M
Long-term Debt (Note 7)	$17.1B	$17.2B	$18.2B	$18.6B
Deferred Income Taxes - Net	$8.0B	$8.0B	$8.0B	$7.7B
Long-term Lease Liability	$492.0M	$493.0M	$469.0M	$481.0M
Other Long-term Liabilities	$545.0M	$529.0M	$538.0M	$500.0M
Total Liabilities	$30.8B	$30.6B	$30.7B	$30.5B
Common Stock, $1 Par Value	$1.8B	$1.9B	$1.9B	$1.9B
Other Capital	$1.1B	$1.1B	$1.0B	$920.0M
Retained Earnings	$11.6B	$11.4B	$10.9B	$10.2B
Accumulated Other Comprehensive Loss (Note 10)	($208.0M)	($209.0M)	($212.0M)	($220.0M)
Non-controlling Minority Interest	$6.0M	$6.0M	$6.0M	$5.0M
Total Shareholders' Equity	$14.4B	$14.1B	$13.6B	$12.8B
Total Liabilities and Shareholders' Equity	$45.2B	$44.7B	$44.2B	$43.3B

Cash flow statement

CSX Corporation cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Earnings	$2.9B	$3.5B	$3.7B	$4.2B
Depreciation and Amortization	$1.7B	$1.7B	$1.6B	$1.5B
Goodwill Impairment (Note 18)	$164.0M	$108.0M	—	—
Deferred Income Taxes	$194.0M	$12.0M	$140.0M	$117.0M
Other Operating Activities	($70.0M)	($64.0M)	($5.0M)	($17.0M)
Accounts Receivable	$88.0M	$82.0M	($51.0M)	($101.0M)
Other Current Assets	($87.0M)	$45.0M	($120.0M)	($22.0M)
Accounts Payable	$40.0M	($5.0M)	$83.0M	$140.0M
Income and Other Taxes Payable	($399.0M)	($19.0M)	$431.0M	($39.0M)
Other Current Liabilities	$114.0M	($29.0M)	($221.0M)	$113.0M
Net Cash Provided by Operating Activities	$4.6B	$5.2B	$5.5B	$5.6B
Property Additions	($2.9B)	($2.5B)	($2.3B)	($2.1B)
Purchases of Short-term Investments	$0	($66.0M)	($104.0M)	($59.0M)
Proceeds from Sales of Short-term Investments	$80.0M	$91.0M	$153.0M	$9.0M
Proceeds and Advances from Property Dispositions	$78.0M	$66.0M	$52.0M	$246.0M
Business Acquisition, Net of Cash Acquired	($16.0M)	($70.0M)	($31.0M)	($227.0M)
Other Investing Activities	($91.0M)	($97.0M)	($76.0M)	$33.0M
Net Cash Used in Investing Activities	($2.9B)	($2.6B)	($2.3B)	($2.1B)
Shares Repurchased	-1.4B	-2.2B	-3.5B	-4.7B
Dividends Paid	($972.0M)	($930.0M)	($882.0M)	($852.0M)
Long-term Debt Repaid	($613.0M)	($558.0M)	($153.0M)	($186.0M)
Long-term Debt Issued (Note 10)	$900.0M	$550.0M	$600.0M	$2.0B
Other Financing Activities	$56.0M	$113.0M	$50.0M	$0
Net Cash Used in Financing Activities	($2.0B)	($3.1B)	($3.9B)	($3.8B)
Net Decrease in Cash and Cash Equivalents	($263.0M)	($420.0M)	($605.0M)	($281.0M)
Cash and Cash Equivalents at Beginning of Period	$933.0M	$1.4B	$2.0B	$2.2B
Cash and Cash Equivalents at End of Period	$670.0M	$933.0M	$1.4B	$2.0B
Interest Paid - Net of Amounts Capitalized	$870.0M	$850.0M	$806.0M	$729.0M
Income Taxes Paid (Note 12)	$1.1B	—	—	—
Capital Expenditures Accrued but Not Yet Paid	$231.0M	$247.0M	—	—

CSX Corporation cash flow statement, quarters

Line item	Sep 30, 2026 · YTD	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD
Net Earnings	$2.9B	$1.8B	$807.0M	$2.2B
Depreciation and Amortization	$1.2B	$826.0M	$415.0M	$1.3B
Deferred Income Taxes	$115.0M	$84.0M	$51.0M	$143.0M
Goodwill Impairment	$0	—	—	$164.0M
Other Operating Activities	($128.0M)	($71.0M)	($47.0M)	($58.0M)
Accounts Receivable	($196.0M)	($190.0M)	($120.0M)	($30.0M)
Other Current Assets	$64.0M	$15.0M	($38.0M)	($32.0M)
Accounts Payable	$67.0M	$54.0M	$64.0M	$101.0M
Income and Other Taxes Payable	$86.0M	$70.0M	$176.0M	($508.0M)
Other Current Liabilities	$108.0M	$2.0M	($36.0M)	$2.0M
Net Cash Provided by Operating Activities	$4.2B	$2.6B	$1.3B	$3.2B
Property Additions	($1.7B)	($1.1B)	($543.0M)	($2.2B)
Purchases of Short-Term Investments	($515.0M)	($515.0M)	($140.0M)	—
Proceeds from Sales of Short-term Investments	$153.0M	$146.0M	$5.0M	$72.0M
Proceeds and Advances from Property Dispositions	$144.0M	$137.0M	$64.0M	$64.0M
Business Acquisition, Net of Cash Acquired	$0	$0	—	($15.0M)
Other Investing Activities	$23.0M	$30.0M	$47.0M	($41.0M)
Net Cash Used In Investing Activities	($1.9B)	($1.3B)	($567.0M)	($2.1B)
Shares Repurchased	-1.1B	-518.0M	-222.0M	-1.3B
Dividends Paid	($779.0M)	($520.0M)	($260.0M)	($730.0M)
Long-term Debt Repaid (Note 7)	($10.0M)	($9.0M)	($2.0M)	($12.0M)
Long-term Debt Issued (Note 7)	$0	$0	$0	$600.0M
Other Financing Activities	$94.0M	$106.0M	$73.0M	$23.0M
Net Cash Used in Financing Activities	($1.8B)	($941.0M)	($411.0M)	($1.4B)
Net Increase (Decrease) in Cash and Cash Equivalents	$553.0M	$337.0M	$294.0M	($321.0M)
Cash and Cash Equivalents at Beginning of Period	$670.0M	$670.0M	$670.0M	$933.0M
Cash and Cash Equivalents at End of Period	$1.2B	$1.0B	$964.0M	$612.0M

CSX Corporation score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.