NYSE: NSC
NORFOLK SOUTHERN CORPCIK 0000702165 · SIC 4011 · Railroads, Line-Haul
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Latest financial statements
From 10-Q filed Oct 22, 2026 (period ending Sep 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 | Third Quarter 2026 | Third Quarter 2025 | First Nine Months 2026 | First Nine Months 2025 |
|---|---|---|---|---|
| Railway operating revenues | 3,526 | 3,103 | 9,989 | 9,206 |
| Railway operating expenses | ||||
| Compensation and benefits | 753 | 738 | 2,237 | 2,169 |
| Purchased services and rents | 546 | 519 | 1,618 | 1,537 |
| Fuel | 420 | 237 | 1,081 | 700 |
| Depreciation | 363 | 348 | 1,073 | 1,040 |
| Materials and other | 224 | 147 | 625 | 547 |
| Merger-related expenses | 42 | 15 | 145 | 15 |
| Restructuring and other charges | — | 12 | 6 | 22 |
| Eastern Ohio incident | 28 | (11) | 53 | (243) |
| Total railway operating expenses | 2,376 | 2,005 | 6,838 | 5,787 |
| Income from railway operations | 1,150 | 1,098 | 3,151 | 3,419 |
| Other income net | 30 | 23 | 97 | 78 |
| Interest expense on debt | 193 | 197 | 587 | 597 |
| Income before income taxes | 987 | 924 | 2,661 | 2,900 |
| Income taxes | 228 | 213 | 621 | 671 |
| Net income | 759 | 711 | 2,040 | 2,229 |
| Earnings per share | ||||
| Basic | 3.38 | 3.16 | 9.07 | 9.89 |
| Diluted | 3.37 | 3.16 | 9.06 | 9.88 |
Consolidated Balance Sheets (Unaudited)
($ in millions)
| Description | September 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 1,598 | 1,530 |
| Accounts receivable net | 1,229 | 988 |
| Materials and supplies | 353 | 271 |
| Other current assets | 145 | 409 |
| Total current assets | 3,325 | 3,198 |
| Investments | 4,186 | 4,089 |
| Properties less accumulated depreciation of $15,259 | ||
| and $14,617, respectively | 36,857 | 36,479 |
| Other assets | 1,581 | 1,470 |
| Total assets | 45,949 | 45,236 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | 2,064 | 1,863 |
| Income and other taxes | 236 | 340 |
| Other current liabilities | 732 | 965 |
| Current maturities of long-term debt | 649 | 607 |
| Total current liabilities | 3,681 | 3,775 |
| Long-term debt | 15,964 | 16,480 |
| Other liabilities | 1,702 | 1,723 |
| Deferred income taxes | 7,872 | 7,711 |
| Total liabilities | 29,219 | 29,689 |
| Stockholders’ equity: | ||
| Common stock $1.00 per share par value, 1,350,000,000 shares | ||
| authorized; outstanding 224,616,686 and 224,420,699 shares, | ||
| respectively, net of treasury shares | 226 | 226 |
| Additional paid-in capital | 2,356 | 2,296 |
| Accumulated other comprehensive loss | (213) | (210) |
| Retained income | 14,361 | 13,235 |
| Total stockholders’ equity | 16,730 | 15,547 |
| Total liabilities and stockholders’ equity | 45,949 | 45,236 |
Consolidated Statements of Cash Flows (Unaudited)
($ in millions)
| Description | First Nine Months 2026 | First Nine Months 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 2,040 | 2,229 |
| Reconciliation of net income to net cash provided by operating activities: | ||
| Depreciation | 1,073 | 1,040 |
| Deferred income taxes | 162 | 315 |
| Gains and losses on properties | (19) | (142) |
| Changes in assets and liabilities affecting operations: | ||
| Accounts receivable | (243) | (53) |
| Materials and supplies | (82) | (20) |
| Other current assets | 79 | 68 |
| Current liabilities other than debt | (108) | 25 |
| Other net | (182) | (164) |
| Net cash provided by operating activities | 2,720 | 3,298 |
| Cash flows from investing activities | ||
| Property additions | (1,407) | (1,475) |
| Property sales and other transactions | 273 | 120 |
| Investment purchases | (6) | (615) |
| Investment sales and other transactions | 32 | 52 |
| Net cash used in investing activities | (1,108) | (1,918) |
| Cash flows from financing activities | ||
| Dividends | (910) | (912) |
| Common stock transactions | (11) | 1 |
| Purchase and retirement of common stock | (5) | (534) |
| Proceeds from borrowings | — | 396 |
| Debt repayments | (618) | (554) |
| Net cash used in financing activities | (1,544) | (1,603) |
| Net increase (decrease) in cash and cash equivalents | 68 | (223) |
| Cash and cash equivalents | ||
| At beginning of year | 1,530 | 1,641 |
| At end of period | 1,598 | 1,418 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the period for: | ||
| Interest (net of amounts capitalized) | 564 | 570 |
| Income taxes (net of refunds) | 556 | 433 |
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 ↗