NYSE: NSC
NORFOLK SOUTHERN CORPCIK 0000702165 · SIC 4011 · Railroads, Line-Haul
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (PANW 10-K) is open in full — no account needed.
Summary not yet generated.
Summary not yet generated.
Partner
Trade NSC commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed Jul 23, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
($ in millions, except per share amounts)
| Description | Second Quarter 2026 | Second Quarter 2025 | First Six Months 2026 | First Six Months 2025 |
|---|---|---|---|---|
| Railway operating revenues | 3,465 | 3,110 | 6,463 | 6,103 |
| Railway operating expenses | ||||
| Compensation and benefits | 744 | 692 | 1,484 | 1,431 |
| Purchased services and rents | 550 | 520 | 1,072 | 1,018 |
| Fuel | 405 | 219 | 661 | 463 |
| Depreciation | 358 | 346 | 710 | 692 |
| Materials and other | 212 | 195 | 401 | 400 |
| Merger-related expenses | 51 | — | 103 | — |
| Restructuring and other charges | 6 | 10 | 6 | 10 |
| Eastern Ohio incident | 15 | (47) | 25 | (232) |
| Total railway operating expenses | 2,341 | 1,935 | 4,462 | 3,782 |
| Income from railway operations | 1,124 | 1,175 | 2,001 | 2,321 |
| Other income net | 32 | 24 | 67 | 55 |
| Interest expense on debt | 197 | 201 | 394 | 400 |
| Income before income taxes | 959 | 998 | 1,674 | 1,976 |
| Income taxes | 225 | 230 | 393 | 458 |
| Net income | 734 | 768 | 1,281 | 1,518 |
| Earnings per share | ||||
| Basic | 3.26 | 3.41 | 5.70 | 6.72 |
| Diluted | 3.26 | 3.41 | 5.69 | 6.72 |
Consolidated Balance Sheets (Unaudited)
($ in millions)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 1,069 | 1,530 |
| Accounts receivable net | 1,177 | 988 |
| Materials and supplies | 327 | 271 |
| Other current assets | 228 | 409 |
| Total current assets | 2,801 | 3,198 |
| Investments | 4,155 | 4,089 |
| Properties less accumulated depreciation of $15,031 | ||
| and $14,617, respectively | 36,626 | 36,479 |
| Other assets | 1,540 | 1,470 |
| Total assets | 45,122 | 45,236 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | 1,783 | 1,863 |
| Income and other taxes | 218 | 340 |
| Other current liabilities | 720 | 965 |
| Current maturities of long-term debt | 649 | 607 |
| Total current liabilities | 3,370 | 3,775 |
| Long-term debt | 15,967 | 16,480 |
| Other liabilities | 1,714 | 1,723 |
| Deferred income taxes | 7,818 | 7,711 |
| Total liabilities | 28,869 | 29,689 |
| Stockholders’ equity: | ||
| Common stock $1.00 per share par value, 1,350,000,000 shares | ||
| authorized; outstanding 224,608,373 and 224,420,699 shares, | ||
| respectively, net of treasury shares | 226 | 226 |
| Additional paid-in capital | 2,332 | 2,296 |
| Accumulated other comprehensive loss | (212) | (210) |
| Retained income | 13,907 | 13,235 |
| Total stockholders’ equity | 16,253 | 15,547 |
| Total liabilities and stockholders’ equity | 45,122 | 45,236 |
Consolidated Statements of Cash Flows (Unaudited)
($ in millions)
| Description | First Six Months 2026 | First Six Months 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 1,281 | 1,518 |
| Reconciliation of net income to net cash provided by operating activities: | ||
| Depreciation | 710 | 692 |
| Deferred income taxes | 108 | 109 |
| Gains and losses on properties | (18) | (57) |
| Changes in assets and liabilities affecting operations: | ||
| Accounts receivable | (190) | (57) |
| Materials and supplies | (56) | (36) |
| Other current assets | 62 | 54 |
| Current liabilities other than debt | (386) | (106) |
| Other net | (113) | (90) |
| Net cash provided by operating activities | 1,398 | 2,027 |
| Cash flows from investing activities | ||
| Property additions | (821) | (924) |
| Property sales and other transactions | 177 | 66 |
| Investment purchases | (5) | (613) |
| Investment sales and other transactions | 20 | 36 |
| Net cash used in investing activities | (629) | (1,435) |
| Cash flows from financing activities | ||
| Dividends | (606) | (609) |
| Common stock transactions | (12) | (8) |
| Purchase and retirement of common stock | (5) | (456) |
| Proceeds from borrowings | — | 396 |
| Debt repayments | (607) | (253) |
| Net cash used in financing activities | (1,230) | (930) |
| Net decrease in cash and cash equivalents | (461) | (338) |
| Cash and cash equivalents | ||
| At beginning of year | 1,530 | 1,641 |
| At end of period | 1,069 | 1,303 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the period for: | ||
| Interest (net of amounts capitalized) | 377 | 378 |
| Income taxes (net of refunds) | 386 | 414 |
Amounts as printed on the EDGAR/iXBRL face — ($ in millions, except per share amounts); ($ in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗