2014 Q3 Form 10-Q Financial Statement

#000027794814000038 Filed on October 15, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $3.221B $2.985B
YoY Change 7.91% 4.22%
Cost Of Revenue $1.003B $983.0M
YoY Change 2.03% 3.26%
Gross Profit $2.218B $2.002B
YoY Change 10.79% 3.09%
Gross Profit Margin 68.86% 67.07%
Selling, General & Admin $951.0M $885.0M
YoY Change 7.46% 4.12%
% of Gross Profit 42.88% 44.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $291.0M $277.0M
YoY Change 5.05% 3.36%
% of Gross Profit 13.12% 13.84%
Operating Expenses $2.245B $1.162B
YoY Change 93.2% 3.94%
Operating Profit $976.0M $840.0M
YoY Change 16.19% 1.94%
Interest Expense $137.0M $136.0M
YoY Change 0.74% -1.45%
% of Operating Profit 14.04% 16.19%
Other Income/Expense, Net -$26.00M $5.000M
YoY Change -620.0% 0.0%
Pretax Income $813.0M $709.0M
YoY Change 14.67% -1.66%
Income Tax $304.0M $254.0M
% Of Pretax Income 37.39% 35.83%
Net Earnings $509.0M $455.0M
YoY Change 11.87% 4.12%
Net Earnings / Revenue 15.8% 15.24%
Basic Earnings Per Share $0.51 $0.45
Diluted Earnings Per Share $0.51 $0.45
COMMON SHARES
Basic Shares Outstanding 999.0M shares 1.017B shares
Diluted Shares Outstanding 999.0M shares 1.018B shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.054B $719.0M
YoY Change 46.59% -1.24%
Cash & Equivalents $479.0M $591.0M
Short-Term Investments $575.0M $128.0M
Other Short-Term Assets $95.00M $85.00M
YoY Change 11.76% -18.27%
Inventory $276.0M $267.0M
Prepaid Expenses
Receivables $1.123B $981.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.676B $2.200B
YoY Change 21.64% -8.07%
LONG-TERM ASSETS
Property, Plant & Equipment $27.99B $26.95B
YoY Change 3.89% 3.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.345B $1.241B
YoY Change 8.38% 3.85%
Other Assets $608.0M $556.0M
YoY Change 9.35% 35.61%
Total Long-Term Assets $29.95B $28.74B
YoY Change 4.19% 4.38%
TOTAL ASSETS
Total Short-Term Assets $2.676B $2.200B
Total Long-Term Assets $29.95B $28.74B
Total Assets $32.62B $30.94B
YoY Change 5.43% 3.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $986.0M $1.078B
YoY Change -8.53% -9.94%
Accrued Expenses $507.0M $511.0M
YoY Change -0.78% 22.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $230.0M $264.0M
YoY Change -12.88% -67.25%
Total Short-Term Liabilities $2.231B $2.251B
YoY Change -0.89% -25.49%
LONG-TERM LIABILITIES
Long-Term Debt $9.387B $8.787B
YoY Change 6.83% 6.42%
Other Long-Term Liabilities $840.0M $1.366B
YoY Change -38.51% 6.39%
Total Long-Term Liabilities $840.0M $1.366B
YoY Change -38.51% 6.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.231B $2.251B
Total Long-Term Liabilities $840.0M $1.366B
Total Liabilities $21.48B $21.08B
YoY Change 1.93% 0.84%
SHAREHOLDERS EQUITY
Retained Earnings $10.53B $9.670B
YoY Change 8.86% 9.91%
Common Stock $1.075B $1.064B
YoY Change 1.03% 1.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.12B $9.848B
YoY Change
Total Liabilities & Shareholders Equity $32.62B $30.94B
YoY Change 5.43% 3.38%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $509.0M $455.0M
YoY Change 11.87% 4.12%
Depreciation, Depletion And Amortization $291.0M $277.0M
YoY Change 5.05% 3.36%
Cash From Operating Activities $857.0M $920.0M
YoY Change -6.85% -9.18%
INVESTING ACTIVITIES
Capital Expenditures -$601.0M -$602.0M
YoY Change -0.17% -0.82%
Acquisitions
YoY Change
Other Investing Activities -$369.0M $280.0M
YoY Change -231.79% 2445.45%
Cash From Investing Activities -$970.0M -$322.0M
YoY Change 201.24% -45.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $131.0M $129.0M
YoY Change 1.55%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.00M -621.0M
YoY Change -103.06% 69.67%
NET CHANGE
Cash From Operating Activities 857.0M 920.0M
Cash From Investing Activities -970.0M -322.0M
Cash From Financing Activities 19.00M -621.0M
Net Change In Cash -94.00M -23.00M
YoY Change 308.7% -145.1%
FREE CASH FLOW
Cash From Operating Activities $857.0M $920.0M
Capital Expenditures -$601.0M -$602.0M
Free Cash Flow $1.458B $1.522B
YoY Change -4.2% -6.05%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-style:italic;font-weight:bold;">Fiscal Year</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">CSX follows a </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">52</font><font style="font-family:Arial;font-size:11pt;">/53 week fiscal reporting calendar with the last day of each reporting period ending on a Friday: </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:84px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:14pt;padding-left:72px;"><font style="font-family:Arial;font-size:14pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:14pt;"><font style="font-family:Arial;font-size:11pt;">The </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">third</font><font style="font-family:Arial;font-size:11pt;"> fiscal quarters of </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:Arial;font-size:11pt;"> and </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:Arial;font-size:11pt;"> consisted of </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">13</font><font style="font-family:Arial;font-size:11pt;"> weeks ending on </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">September&#160;26, 2014</font><font style="font-family:Arial;font-size:11pt;"> and </font><font style="font-family:Arial;font-size:11pt;color:#000000;text-decoration:none;">September&#160;27, 2013</font><font style="font-family:Arial;font-size:11pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; 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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2014Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 states
CY2014Q3 us-gaap Operating Costs And Expenses
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610000000 USD
CY2013Q3 us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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CY2014Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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CY2013Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-style:italic;">Revision of Prior Period Financial Statements</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">During 2013, CSX completed a review of certain accounts receivable balances which resulted in an adjustment to previously reported revenue. This review identified certain immaterial differences between estimated and actual revenue. For information related to this prior period revision, see CSX's most recent annual report on Form 10-K.</font></div></div>
us-gaap Proceeds From Issuance Of Long Term Debt
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1000000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Sale Of Short Term Investments
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us-gaap Proceeds From Sale Of Short Term Investments
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us-gaap Proceeds From Stock Options Exercised
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0 USD
us-gaap Proceeds From Stock Options Exercised
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9000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2013Q4 us-gaap Property Plant And Equipment Net
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CY2014Q3 us-gaap Property Plant And Equipment Net
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us-gaap Repayments Of Debt And Capital Lease Obligations
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us-gaap Repayments Of Debt And Capital Lease Obligations
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Sales Revenue Net
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CY2013Q3 us-gaap Sales Revenue Net
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CY2014Q3 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2013Q4 us-gaap Short Term Investments
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CY2014Q3 us-gaap Short Term Investments
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CY2014Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
4000000 shares
CY2013Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
5000000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
13000000 shares
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2014Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
249000000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
91000000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1021000000 shares
CY2005 csx Additional Companies Involvedin Passaic River Complaint
AdditionalCompaniesInvolvedinPassaicRiverComplaint
5 company
csx Amortizationof Debt Discount Premiumand Other Activity
AmortizationofDebtDiscountPremiumandOtherActivity
-6000000 USD
CY2014Q3 csx Casualty And Catastrophic Property Deductible
CasualtyAndCatastrophicPropertyDeductible
50000000 USD
CY2014Q3 csx Casualty And Non Catastrophic Property Deductible
CasualtyAndNonCatastrophicPropertyDeductible
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CY2013Q3 csx Csx Current State And Local Tax Expense Benefit Per Share
Csx_CurrentStateAndLocalTaxExpenseBenefitPerShare
0.01
CY2014Q3 csx Equipmentand Other Rents
EquipmentandOtherRents
106000000 USD
csx Equipmentand Other Rents
EquipmentandOtherRents
321000000 USD
csx Equipmentand Other Rents
EquipmentandOtherRents
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CY2013Q3 csx Equipmentand Other Rents
EquipmentandOtherRents
94000000 USD
CY2007Q2 csx Loss Contingency Claims Filed Number Of Entities
LossContingencyClaimsFiledNumberOfEntities
3 entity
csx Number Of Potentially Responsible Parties In Connection With Environmental Liabilities For Operations Conducted Near Passaic River
NumberOfPotentiallyResponsiblePartiesInConnectionWithEnvironmentalLiabilitiesForOperationsConductedNearPassaicRiver
60 company
CY2013Q3 csx Numberof Weeks Fiscal Quarter
NumberofWeeksFiscalQuarter
P91D
CY2014Q3 csx Numberof Weeks Fiscal Quarter
NumberofWeeksFiscalQuarter
P91D
csx Numberofmilespertainingto Passaic Rivertidalreachrequiredtobestudiedby Epa
NumberofmilespertainingtoPassaicRivertidalreachrequiredtobestudiedbyEPA
17 mi
CY2005 csx Numberofmilespertainingto Passaic Rivertidalreachrequiredtobestudiedby Epa
NumberofmilespertainingtoPassaicRivertidalreachrequiredtobestudiedbyEPA
17 mi
CY2014Q3 csx Rail Route Network Distance
RailRouteNetworkDistance
21000 mi
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-26
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-26
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000277948
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
995397303 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CSX CORP

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csx-20140926.xml Edgar Link completed
csx-20140926.xsd Edgar Link pending
csx-20140926_cal.xml Edgar Link unprocessable
csx-20140926_def.xml Edgar Link unprocessable
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