2021 Q2 Form 10-Q Financial Statement

#000027794821000041 Filed on July 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $2.990B $2.255B
YoY Change 32.59% -26.33%
Cost Of Revenue $635.0M $498.0M
YoY Change 27.51% -27.72%
Gross Profit $2.355B $1.757B
YoY Change 34.04% -25.93%
Gross Profit Margin 78.76% 77.92%
Selling, General & Admin $683.0M $585.0M
YoY Change 16.75% -22.1%
% of Gross Profit 29.0% 33.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $348.0M $344.0M
YoY Change 1.16% 2.08%
% of Gross Profit 14.78% 19.58%
Operating Expenses $1.031B $929.0M
YoY Change 10.98% -47.1%
Operating Profit $1.691B $828.0M
YoY Change 104.23% -36.55%
Interest Expense -$181.0M -$191.0M
YoY Change -5.24% 3.8%
% of Operating Profit -10.7% -23.07%
Other Income/Expense, Net $20.00M $15.00M
YoY Change 33.33% -40.0%
Pretax Income $1.530B $652.0M
YoY Change 134.66% -43.11%
Income Tax $357.0M $153.0M
% Of Pretax Income 23.33% 23.47%
Net Earnings $1.173B $499.0M
YoY Change 135.07% -42.64%
Net Earnings / Revenue 39.23% 22.13%
Basic Earnings Per Share $0.52 $0.22
Diluted Earnings Per Share $0.52 $0.22
COMMON SHARES
Basic Shares Outstanding 2.270B shares 2.297B shares
Diluted Shares Outstanding 2.275B shares 2.301B shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.990B $2.594B
YoY Change 15.27% 49.86%
Cash & Equivalents $2.986B $2.391B
Short-Term Investments $4.000M $203.0M
Other Short-Term Assets $102.0M $91.00M
YoY Change 12.09% -25.41%
Inventory $289.0M $246.0M
Prepaid Expenses
Receivables $1.192B $860.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.573B $3.791B
YoY Change 20.63% 18.99%
LONG-TERM ASSETS
Property, Plant & Equipment $32.49B $32.26B
YoY Change 0.7% 0.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.033B $1.921B
YoY Change 5.83% 5.43%
Other Assets $461.0M $419.0M
YoY Change 10.02% 20.75%
Total Long-Term Assets $35.44B $35.11B
YoY Change 0.94% 1.08%
TOTAL ASSETS
Total Short-Term Assets $4.573B $3.791B
Total Long-Term Assets $35.44B $35.11B
Total Assets $40.02B $38.90B
YoY Change 2.86% 2.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $879.0M $960.0M
YoY Change -8.44% -2.93%
Accrued Expenses $447.0M $352.0M
YoY Change 26.99% -25.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $122.0M $378.0M
YoY Change -67.72% 54.29%
Total Short-Term Liabilities $1.951B $2.347B
YoY Change -16.87% 14.32%
LONG-TERM LIABILITIES
Long-Term Debt $16.23B $16.13B
YoY Change 0.63% 3.9%
Other Long-Term Liabilities $493.0M $554.0M
YoY Change -11.01% -2.46%
Total Long-Term Liabilities $493.0M $554.0M
YoY Change -11.01% -2.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.951B $2.347B
Total Long-Term Liabilities $493.0M $554.0M
Total Liabilities $26.58B $26.74B
YoY Change -0.6% 4.32%
SHAREHOLDERS EQUITY
Retained Earnings $11.72B $11.68B
YoY Change 0.4% -1.41%
Common Stock $2.254B $1.126B
YoY Change 100.18% 3.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.43B $12.15B
YoY Change
Total Liabilities & Shareholders Equity $40.02B $38.90B
YoY Change 2.86% 2.58%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $1.173B $499.0M
YoY Change 135.07% -42.64%
Depreciation, Depletion And Amortization $348.0M $344.0M
YoY Change 1.16% 2.08%
Cash From Operating Activities $1.167B $1.006B
YoY Change 16.0% -8.04%
INVESTING ACTIVITIES
Capital Expenditures -$448.0M -$420.0M
YoY Change 6.67% 0.96%
Acquisitions
YoY Change
Other Investing Activities $218.0M $273.0M
YoY Change -20.15% 810.0%
Cash From Investing Activities -$230.0M -$147.0M
YoY Change 56.46% -61.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $701.0M $39.00M
YoY Change 1697.44% -95.47%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -906.0M -463.0M
YoY Change 95.68% -55.61%
NET CHANGE
Cash From Operating Activities 1.167B 1.006B
Cash From Investing Activities -230.0M -147.0M
Cash From Financing Activities -906.0M -463.0M
Net Change In Cash 31.00M 396.0M
YoY Change -92.17% -218.21%
FREE CASH FLOW
Cash From Operating Activities $1.167B $1.006B
Capital Expenditures -$448.0M -$420.0M
Free Cash Flow $1.615B $1.426B
YoY Change 13.25% -5.56%

Facts In Submission

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ComprehensiveIncomeNetOfTax
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CY2021Q2 csx Rail Route Network Distance
RailRouteNetworkDistance
19500 mi
CY2021Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 state
CY2021Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3
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CY2021Q2 us-gaap Additional Paid In Capital Common Stock
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us-gaap Fiscal Period
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The Company's fiscal periods are based upon the calendar year. Except as otherwise specified, references to “second quarter(s)” or “six months” indicate CSX's fiscal periods ending June 30, 2021 and June 30, 2020, and references to "year-end" indicate the fiscal year ended December 31, 2020.
CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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2270000000 shares
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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
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CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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5000000 shares
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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5000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q2 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
2311000000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
us-gaap Earnings Per Share Basic
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0.55
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
us-gaap Earnings Per Share Diluted
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0.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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4600000000 USD
CY2021Q2 us-gaap Stock Repurchased And Retired During Period Shares
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CY2020Q2 us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Shares
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CY2021Q2 us-gaap Payments For Repurchase Of Common Stock
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0.08
us-gaap Common Stock Dividends Per Share Cash Paid
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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CY2020Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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12000000 USD
CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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6000000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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15000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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11000000 USD
CY2021Q2 us-gaap Loss Contingency Accrual Carrying Value Current
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102000000 USD
CY2021Q2 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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210000000 USD
CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
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CY2020Q4 us-gaap Loss Contingency Accrual Carrying Value Current
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CY2020Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
314000000 USD
CY2020Q2 csx Casualty And Catastrophic Property Deductible
CasualtyAndCatastrophicPropertyDeductible
100000000 USD
CY2020Q2 csx Casualty And Non Catastrophic Property Deductible
CasualtyAndNonCatastrophicPropertyDeductible
75000000 USD
CY2021Q2 us-gaap Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year
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0 USD
CY2020Q4 us-gaap Debt And Capital Lease Obligations
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us-gaap Repayments Of Long Term Debt
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360000000 USD
csx Long Term Debt Increase Decrease Due To Reclassifications
LongTermDebtIncreaseDecreaseDueToReclassifications
0 USD
us-gaap Amortization Of Debt Discount Premium
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6000000 USD
CY2021Q2 us-gaap Debt And Capital Lease Obligations
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16351000000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1200000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2990000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5803000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5110000000 USD
csx Contract With Customer Timing Of Satisfaction Of Performance Obligation Payment Period
ContractWithCustomerTimingOfSatisfactionOfPerformanceObligationPaymentPeriod
P15D
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
The Company expects to recognize the unearned portion of revenue for freight services in transit within one week of the reporting date.
CY2021Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1192000000 USD
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
912000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
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519000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1900000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1300000000 USD
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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28000000 USD
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-33000000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
14000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
47000000 USD

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