Norfolk Southern (NSC) 10-K 6 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-8339
Entity Registrant Name	NORFOLK SOUTHERN CORPORATION
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	52-1188014
Entity Address, Address Line One	Three Commercial Place
Entity Address, City or Town	Norfolk,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23510-2191
City Area Code	(757)
Local Phone Number	629-2680
Title of 12(b) Security	Norfolk Southern Corporation Common Stock (Par Value $1.00)
Trading Symbol	NSC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of each class			$ 52,456,511,032
Entity Common Stock, Shares Outstanding		257,844,180
Documents Incorporated by Reference [Text Block]	Portions of the Registrant’s definitive proxy statement to be filed electronically pursuant to Regulation 14A not later than 120 days after the end of the fiscal year, are incorporated herein by reference in Part III.
Entity Central Index Key	0000702165
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Railway operating revenues	$ 11,296	$ 11,458	$ 10,551
Railway operating expenses:
Compensation and benefits	2,751	2,925	2,979
Purchased services and rents	1,725	1,730	1,414
Fuel	953	1,087	840
Depreciation	1,138	1,102	1,055
Materials and other	740	655	741
Total railway operating expenses	7,307	7,499	7,029
Income from railway operations	3,989	3,959	3,522
Other income – net	106	67	156
Interest expense on debt	604	557	550
Income before income taxes	3,491	3,469	3,128
Income taxes	769	803	(2,276)
Net income	$ 2,722	$ 2,666	$ 5,404
Earnings per share:
Basic (in dollars per share)	$ 10.32	$ 9.58	$ 18.76
Diluted (in dollars per share)	$ 10.25	$ 9.51	$ 18.61

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income	$ 2,722	$ 2,666	$ 5,404
Other comprehensive income (loss), before tax:
Pension and other postretirement benefits	101	(148)	155
Other comprehensive income (loss), before tax	97	(157)	174
Income tax benefit (expense) related to items of other comprehensive income (loss)	(25)	38	(43)
Other comprehensive income (loss), net of tax	72	(119)	131
Total comprehensive income	2,794	2,547	5,535
Accumulated Other Comprehensive Loss Equity Investees
Other comprehensive income (loss), before tax:
Other comprehensive income (loss), before tax	$ (4)	$ (9)	$ 19

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 580	$ 358
Accounts receivable – net	920	1,009
Materials and supplies	244	207
Other current assets	337	288
Total current assets	2,081	1,862
Investments	3,428	3,109
Properties less accumulated depreciation of $11,982 and $12,374 respectively	31,614	31,091
Other assets	800	177
Total assets	37,923	36,239
Current liabilities:
Accounts payable	1,428	1,505
Income and other taxes	229	255
Other current liabilities	327	246
Current maturities of long-term debt	316	585
Total current liabilities	2,300	2,591
Long-term debt	11,880	10,560
Other liabilities	1,744	1,266
Deferred income taxes	6,815	6,460
Total liabilities	22,739	20,877
Stockholders’ equity:
Common stock $1.00 per share par value, 1,350,000,000 shares authorized; outstanding 257,904,956 and 268,098,472 shares, respectively, net of treasury shares	259	269
Additional paid-in capital	2,209	2,216
Accumulated other comprehensive loss	(491)	(563)
Retained income	13,207	13,440
Total stockholders’ equity	15,184	15,362
Total liabilities and stockholders’ equity	$ 37,923	$ 36,239

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Properties, accumulated depreciation	$ 11,982	$ 12,374
Common stock, par or stated value per share (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	1,350,000,000	1,350,000,000
Common stock, shares outstanding, net of treasury shares (in shares)	257,904,956	268,098,472

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 2,722	$ 2,666	$ 5,404
Reconciliation of net income to net cash provided by operating activities:
Depreciation	1,139	1,104	1,059
Deferred income taxes	330	173	(2,859)
Gains and losses on properties	(42)	(171)	(92)
Changes in assets and liabilities affecting operations:
Accounts receivable	87	(70)	(41)
Materials and supplies	(37)	15	35
Other current assets	(4)	(46)	(71)
Current liabilities other than debt	(185)	223	135
Other – net	(118)	(168)	(317)
Net cash provided by operating activities	3,892	3,726	3,253
Cash flows from investing activities:
Property additions	(2,019)	(1,951)	(1,723)
Property sales and other transactions	377	204	202
Investment purchases	(18)	(10)	(7)
Investment sales and other transactions	(104)	99	47
Net cash used in investing activities	(1,764)	(1,658)	(1,481)
Cash flows from financing activities:
Dividends	(949)	(844)	(703)
Common Stock transactions	27	40	89
Purchase and retirement of Common Stock	(2,099)	(2,781)	(1,012)
Proceeds from borrowings – net of issuance costs	2,192	2,023	290
Debt repayments	(1,188)	(750)	(702)
Other	23	0	0
Net cash used in financing activities	(1,994)	(2,312)	(2,038)
Net increase (decrease) in cash, cash equivalents, and restricted cash	134	(244)	(266)
Cash, cash equivalents, and restricted cash:
At beginning of year	446	690	956
At end of year	580	446	690
Supplemental disclosures of cash flow information:
Interest (net of amounts capitalized)	555	496	528
Income taxes (net of refunds)	$ 543	$ 519	$ 705

Consolidated Statements of Chan

Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Income
Balance at Beginning of Year at Dec. 31, 2016	$ 12,409	$ 292	$ 2,179	$ (487)	$ 10,425
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,404				5,404
Other comprehensive income (loss)	131			131
Total comprehensive income	5,535
Dividends on Common Stock ($2.44, $3.04 and $0.00 for years ended 2017, 2018 and 2019, respectively)	(703)				(703)
Share repurchases	(1,012)	(8)	(59)		(945)
Stock-based compensation	130	1	134		(5)
Balance at End of Year at Dec. 31, 2017	16,359	285	2,254	(356)	14,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,666				2,666
Other comprehensive income (loss)	(119)			(119)
Total comprehensive income	2,547
Dividends on Common Stock ($2.44, $3.04 and $0.00 for years ended 2017, 2018 and 2019, respectively)	(844)				(844)
Share repurchases	(2,781)	(17)	(125)		(2,639)
Stock-based compensation	81	1	87		(7)
Reclassification of stranded tax effect	0			(88)	88
Balance at End of Year at Dec. 31, 2018	15,362	269	2,216	(563)	13,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,722				2,722
Other comprehensive income (loss)	72			72
Total comprehensive income	2,794
Dividends on Common Stock ($2.44, $3.04 and $0.00 for years ended 2017, 2018 and 2019, respectively)	(949)				(949)
Share repurchases	(2,099)	(11)	(88)		(2,000)
Stock-based compensation	76	1	81		(6)
Balance at End of Year at Dec. 31, 2019	$ 15,184	$ 259	$ 2,209	$ (491)	$ 13,207

Consolidated Statements of Ch_2

Consolidated Statements of Changes In Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share, declared (in dollars per share)	$ 3.60	$ 3.04	$ 2.44

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Description of Business Norfolk Southern Corporation is a Virginia-based holding company engaged principally in the rail transportation business, operating approximately 19,500 route miles primarily in the East and Midwest. These consolidated financial statements include Norfolk Southern and its majority-owned and controlled subsidiaries (collectively, NS, we, us, and our). Norfolk Southern’s major subsidiary is NSR. All significant intercompany balances and transactions have been eliminated in consolidation. NSR and its railroad subsidiaries transport raw materials, intermediate products, and finished goods classified in the following commodity groups (percent of total railway operating revenues in 2019): intermodal (25%); chemicals (17%); coal (15%); agriculture products (14%); metals and construction (13%); automotive (9%); and, forest and consumer (7%). Although most of our customers are domestic, ultimate points of origination or destination for some of the products transported (particularly coal bound for export and some intermodal shipments) may be outside the U.S. Approximately 80% of our railroad employees are covered by collective bargaining agreements with various labor unions. Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We periodically review our estimates, including those related to the recoverability and useful lives of assets, as well as liabilities for litigation, environmental remediation, casualty claims, income taxes and pension and other postretirement benefits. Changes in facts and circumstances may result in revised estimates. Revenue Recognition Transportation revenue is recognized proportionally as a shipment moves from origin to destination, and related expenses are recognized as incurred. Certain of our contract refunds (which are primarily volume-based incentives) are recorded as a reduction to revenues on the basis of management’s best estimate of projected liability, which is based on historical activity, current shipment counts and expectation of future activity. Certain accessorial services may be provided to customers under their transportation contracts such as switching, demurrage and other incidental service revenues. These are distinct performance obligations that are recognized at a point in time when the services are performed or as contractual obligations are met. Cash Equivalents “Cash equivalents” are highly liquid investments purchased three months or less from maturity. Allowance for Doubtful Accounts Our allowance for doubtful accounts was $9 million and $7 million at December 31, 2019 and 2018, respectively. To determine our allowance for doubtful accounts, we evaluate historical loss experience (which has not been significant), the characteristics of current accounts, and general economic conditions and trends. Materials and Supplies “Materials and supplies,” consisting mainly of items for maintenance of property and equipment, are stated at the lower of average cost or net realizable value. The cost of materials and supplies expected to be used in property additions or improvements is included in “Properties.” Investments Investments in entities over which we have the ability to exercise significant influence but do not control the entity are accounted for using the equity method, whereby the investment is carried at the cost of the acquisition plus our equity in undistributed earnings or losses since acquisition. Properties “Properties” are stated principally at cost and are depreciated using the group method whereby assets with similar characteristics, use, and expected lives are grouped together in asset classes and depreciated using a composite depreciation rate. This methodology treats each asset class as a pool of resources, not as singular items. We use approximately 75 depreciable asset classes. “Depreciation” in the Consolidated Statements of Cash Flows includes both depreciation and depletion on operating and nonoperating properties. Depreciation expense is based on our assumptions concerning expected service lives of our properties as well as the expected net salvage that will be received upon their retirement. In developing these assumptions, we utilize periodic depreciation studies that are performed by an independent outside firm of consulting engineers and approved by the STB. Our depreciation studies are conducted about every three years for equipment and every six years for track assets and other roadway property. The frequency of these studies is consistent with guidelines established by the STB. We adjust our rates based on the results of these studies and implement the changes prospectively. The studies may also indicate that the recorded amount of accumulated depreciation is deficient (or in excess) of the amount indicated by the study. Any such deficiency (or excess) is amortized as a component of depreciation expense over the remaining service lives of the affected class of property, as determined by the study. Key factors that are considered in developing average service life and salvage estimates include: • statistical analysis of historical retirement data and surviving asset records; • review of historical salvage received and current market rates; • review of our operations including expected changes in technology, customer demand, maintenance practices and asset management strategies; • review of accounting policies and assumptions; and • industry review and analysis. The composite depreciation rate for rail in high density corridors is derived based on consideration of annual gross tons as compared to the total or ultimate capacity of rail in these corridors. Our experience has shown that traffic density is a leading factor in the determination of the expected service life of rail in high density corridors. In developing the respective depreciation rate, consideration is also given to several rail characteristics including age, weight, condition (new or second-hand) and type (curved or straight). We capitalize interest on major projects during the period of their construction. Expenditures, including those on leased assets, that extend an asset’s useful life or increase its utility are capitalized. Expenditures capitalized include those that are directly related to a capital project and may include materials, labor, and other direct costs, in addition to an allocable portion of indirect costs that relate to a capital project. A significant portion of our annual capital spending relates to the replacement of self-constructed assets. Removal activities occur in conjunction with replacement and are estimated based on the average percentage of time employees replacing assets spend on removal functions. Costs related to repairs and maintenance activities that, in our judgment, do not extend an asset’s useful life or increase its utility are expensed when such repairs are performed. When depreciable operating road and equipment assets are sold or retired in the ordinary course of business, the cost of the assets, net of sale proceeds or salvage, is charged to accumulated depreciation, and no gain or loss is recognized in earnings. Actual historical cost values are retired when available, such as with most equipment assets. The use of estimates in recording the retirement of certain roadway assets is necessary based on the impracticality of tracking individual asset costs. When retiring rail, ties and ballast, we use statistical curves that indicate the relative distribution of the age of the assets retired. The historical cost of other roadway assets is estimated using a combination of inflation indices specific to the rail industry and those published by the U.S. Bureau of Labor Statistics. The indices are applied to the replacement value based on the age of the retired assets. These indices are used because they closely correlate with the costs of roadway assets. Gains and losses on disposal of operating land are included in “Materials and other” expenses. Gains and losses on disposal of nonoperating land and nonrail assets are included in “Other income – net” since such income is not a product of our railroad operations. A retirement is considered abnormal if it does not occur in the ordinary course of business, if it relates to disposition of a large segment of an asset class and if the retirement varies significantly from the retirement profile identified through our depreciation studies, which inherently consider the impact of normal retirements on expected service lives and depreciation rates. Gains or losses from abnormal retirements would be recognized in income from railway operations. We review the carrying amount of properties whenever events or changes in circumstances indicate that such carrying amount may not be recoverable based on future undiscounted cash flows. Assets that are deemed impaired as a result of such review are recorded at the lower of carrying amount or fair value. New Accounting Pronouncements The FASB issued ASU 2014-09, “ Revenue from Contracts with Customers ,” and related amendments, which are jointly referred to as Accounting Standards Codification (ASC) Topic 606. This standard replaced most existing revenue recognition guidance in GAAP and requires entities to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. A performance obligation is defined as a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. We adopted the provisions of this standard on January 1, 2018, using the modified retrospective method. There was no cumulative effect of initially applying the standard, nor was there any material difference in revenue for the year ended December 31, 2018, as compared with GAAP that was in effect prior to January 1, 2018. See Note 2 for additional information. In March 2017, the FASB issued ASU 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost .” This update requires segregation of net benefit costs between operating and nonoperating expenses and requires retrospective application. We adopted the standard on January 1, 2018. Under the new standard, only the service cost component of defined benefit pension cost and postretirement benefit cost are reported within “Compensation and benefits” and all other components of net benefit cost are presented in “Other income – net” on the Consolidated Statements of Income, whereas under the previous standard all components were included in “Compensation and benefits.” The retrospective application resulted in an increase to “Compensation and benefits” expense and an offsetting increase to “Other income – net” on the Consolidated Statements of Income of $64 million for the year ended December 31, 2017, with no impact on “Net income.” In February 2018, the FASB issued ASU 2018-02, “ Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income .” This update is intended to reclassify the stranded tax effects resulting from tax reform from accumulated other comprehensive income (AOCI) to retained earnings. The amount of the reclassification is the difference between the amount initially charged or credited directly to other comprehensive income at the previously enacted U.S. federal corporate income tax rate that remains in AOCI and the amount that would have been charged or credited directly to other comprehensive income using the newly enacted U.S. federal corporate income tax rate. In the first quarter of 2018, we adopted the provisions of ASU 2018-02 resulting in an increase to “Accumulated other comprehensive loss” of $88 million and a corresponding increase to “Retained income,” with no impact on “Total stockholders’ equity.” In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) ,” and subsequent amendments, which replaced existing lease guidance in GAAP. We adopted the standard on January 1, 2019 using the modified retrospective method and used the effective date as our date of initial application. See Note 10 for additional information. In June 2016, the FASB issued ASU 2016-13, “ Credit Losses - Measurement of Credit Losses on Financial Instruments ,” which replaces the current incurred loss impairment method with a method that reflects expected credit losses. We adopted the standard on January 1, 2020. Because credit losses associated from our trade receivables have historically been insignificant, we do not expect this standard to have a material effect on our financial statements. In December 2019, the FASB issued ASU 2019-12, “ Simplifying the Accounting for Income Taxes ,” which adds new guidance to simplify the accounting for income taxes, changes the accounting for certain income tax transactions, and makes other minor changes. The new standard is effective as of January 1, 2021, and early adoption is permitted for any interim period for which financial statements have not been issued. We do not expect this standard to have a material effect on our financial statements. We will not adopt the standard early.

Railway Operating Revenues

Railway Operating Revenues	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Railway Operating Revenues	Railway Operating Revenues The following table disaggregates our revenues by major commodity group: 2019 2018 ($ in millions) Merchandise: Chemicals $ 1,874 $ 1,858 Agriculture products 1,567 1,514 Metals and construction 1,522 1,539 Automotive 994 991 Forest and consumer 846 842 Merchandise 6,803 6,744 Intermodal 2,824 2,893 Coal 1,669 1,821 Total $ 11,296 $ 11,458 At the beginning of 2019, we recategorized certain commodities within Merchandise major commodity groups to better align with how we internally manage these commodities. Prior period amounts have been reclassified to conform to the current presentation with no net impact to overall Merchandise revenue or total railway operating revenues. Specifically, certain commodities were shifted between chemicals, agriculture products, metals and construction, and forest and consumer. We recognize the amount of revenue we expect to be entitled to for the transfer of promised goods or services to customers. A performance obligation is created when a customer under a transportation contract or public tariff submits a bill of lading to NS for the transport of goods. These performance obligations are satisfied as the shipments move from origin to destination. As such, transportation revenue is recognized proportionally as a shipment moves, and related expenses are recognized as incurred. These performance obligations are generally short-term in nature with transit days averaging approximately one week or less for each commodity group. The customer has an unconditional obligation to pay for the service once the service has been completed. Estimated revenue associated with in-process shipments at period-end is recorded based on the estimated percentage of service completed to total transit days. We had no material remaining performance obligations at December 31, 2019 and 2018. Revenue related to interline transportation services that involve another railroad is reported on a net basis. Therefore, the portion of the amount that relates to another party is not reflected in revenue. Under the typical payment terms of our freight contracts, payment for services is due within fifteen days of billing the customer, thus there are no significant financing components. “Accounts receivable – net” on the Consolidated Balance Sheets includes both customer and non-customer receivables as follows: December 31, 2019 2018 ($ in millions) Customer $ 682 $ 740 Non-customer 238 269 Accounts receivable – net $ 920 $ 1,009 Non-customer receivables include non-revenue-related amounts due from other railroads, governmental entities, and others. “Other assets” on the Consolidated Balance Sheets includes non-current customer receivables of $23 million and $55 million at December 31, 2019 and 2018, respectively. In 2019, we wrote off a $32 million non-current customer receivable resulting from a legal dispute and this expense is included in “Materials and other” on the Consolidated Statements of Income. We do not have any material contract assets or liabilities at December 31, 2019 and 2018. Certain accessorial services may be provided to customers under their transportation contracts such as switching, demurrage and other incidental service revenues. These are distinct performance obligations that are recognized at a point in time when the services are performed or as contractual obligations are met. This revenue is included within each of the commodity groups and represents approximately 5% and 4% of total “Railway operating revenues” on the Consolidated Statements of Income for the years ended December 31, 2019 and 2018, respectively.

Other Income - Net

Other Income - Net	12 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Other Income - Net	Other Income – Net 2019 2018 2017 ($ in millions) Corporate-owned life insurance – net $ 69 $ (10) $ 33 Net pension and other postretirement benefit cost (Note 12) 63 61 64 Rental income 4 5 87 Other (30) 11 (28) Total $ 106 $ 67 $ 156

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes 2019 2018 2017 ($ in millions) Current: Federal $ 356 $ 499 $ 500 State 83 131 83 Total current taxes 439 630 583 Deferred: Federal 280 156 (2,924) State 50 17 65 Total deferred taxes 330 173 (2,859) Income taxes $ 769 $ 803 $ (2,276) Reconciliation of Statutory Rate to Effective Rate “Income taxes” on the Consolidated Statements of Income differs from the amounts computed by applying the statutory federal corporate tax rate as follows: 2019 2018 2017 Amount % Amount % Amount % ($ in millions) Federal income tax at statutory rate $ 733 21.0 $ 728 21.0 $ 1,095 35.0 State income taxes, net of federal tax effect 110 3.1 120 3.5 88 2.8 Equity in earnings related to tax reform — — — — (38) (1.2) Tax reform — — — — (3,331) (106.5) Excess tax benefits on stock-based compensation (29) (0.8) (22) (0.7) (39) (1.2) Other, net (45) (1.3) (23) (0.7) (51) (1.7) Income Taxes $ 769 22.0 $ 803 23.1 $ (2,276) (72.8) Tax reform, enacted in 2017, lowered the Federal corporate tax rate from 35% to 21% and made numerous other tax law changes. GAAP requires companies to recognize the effect of tax law changes in the period of enactment. As a result, in 2017, “Purchased services and rents” included a $151 million benefit for earnings generated from reductions to net deferred tax liabilities at certain equity investees and “Income taxes” included a $3,331 million benefit primarily due to the remeasurement of our net deferred tax liabilities to reflect the lower rate. Deferred Tax Assets and Liabilities Certain items are reported in different periods for financial reporting and income tax purposes. Deferred tax assets and liabilities are recorded in recognition of these differences. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: December 31, 2019 2018 ($ in millions) Deferred tax assets: Compensation and benefits, including postretirement benefits $ 222 $ 284 Accruals, including casualty and other claims 89 69 Other 202 72 Total gross deferred tax assets 513 425 Less valuation allowance (54) (50) Net deferred tax assets 459 375 Deferred tax liabilities: Property (6,714) (6,422) Other (560) (413) Total deferred tax liabilities (7,274) (6,835) Deferred income taxes $ (6,815) $ (6,460) Except for amounts for which a valuation allowance has been provided, we believe that it is more likely than not that the results of future operations will generate sufficient taxable income to realize the deferred tax assets. The valuation allowance at the end of each year primarily relates to subsidiary state income tax net operating losses and state investment tax credits that may not be utilized prior to their expiration. The total valuation allowance increased by $4 million in 2019, $6 million in 2018, and $5 million in 2017. Uncertain Tax Positions A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2019 2018 ($ in millions) Balance at beginning of year $ 21 $ 17 Additions based on tax positions related to the current year 4 5 Lapse of statutes of limitations (1) (1) Balance at end of year $ 24 $ 21 Included in the balance of unrecognized tax benefits at December 31, 2019 are potential benefits of $19 million that would affect the effective tax rate if recognized. Unrecognized tax benefits are adjusted in the period in which new information about a tax position becomes available or the final outcome differs from the amount recorded.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements FASB ASC 820-10, “Fair Value Measurements,” established a framework for measuring fair value and a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels, as follows: Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that we have the ability to access. Level 2 Inputs to the valuation methodology include: • quoted prices for similar assets or liabilities in active markets; • quoted prices for identical or similar assets or liabilities in inactive markets; • inputs other than quoted prices that are observable for the asset or liability; • inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset or liability’s fair value measurement level within the hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Fair Values of Financial Instruments The fair values of “Cash and cash equivalents,” “Accounts receivable – net,” and “Accounts payable,” approximate carrying values because of the short maturity of these financial instruments. The carrying value of COLI is recorded at cash surrender value and, accordingly, approximates fair value. There are no other assets or liabilities measured at fair value on a recurring basis at December 31, 2019 or 2018. The carrying amounts and estimated fair values, based on Level 1 inputs, of long-term debt consisted of the following at December 31: 2019 2018 Carrying Fair Carrying Fair ($ in millions) Long-term debt, including current maturities $ (12,196) $ (14,806) $ (11,145) $ (12,203)

Investments

Investments	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Investments	Investments December 31, 2019 2018 ($ in millions) Long-term investments: Equity method investments: Conrail Inc. $ 1,387 $ 1,337 TTX Company 749 692 Meridian Speedway LLC 271 271 Pan Am Southern LLC 154 155 Other 85 77 Total equity method investments 2,646 2,532 Corporate-owned life insurance at net cash surrender value 767 556 Other investments 15 21 Total long-term investments $ 3,428 $ 3,109 Investment in Conrail Through a limited liability company, we and CSX jointly own Conrail, whose primary subsidiary is CRC. We have a 58% economic and 50% voting interest in the jointly owned entity, and CSX has the remainder of the economic and voting interests. We are amortizing the excess of the purchase price over Conrail’s net equity using the principles of purchase accounting, based primarily on the estimated useful lives of Conrail’s depreciable property and equipment, including the related deferred tax effect of the differences in book and tax accounting bases for such assets, as all of the purchase price at acquisition was allocable to Conrail’s tangible assets and liabilities. At December 31, 2019, based on the funded status of Conrail’s pension plans, we decreased our proportional investment in Conrail by $3 million. This resulted in a loss of $3 million recorded to “Other comprehensive loss”. At December 31, 2018, based on the funded status of Conrail’s pension plans, we decreased our proportional investment in Conrail by $11 million. This resulted in a loss of $10 million recorded to “Other comprehensive loss” and a combined federal and state deferred tax liability of $1 million. At December 31, 2019, the difference between our investment in Conrail and our share of Conrail’s underlying net equity was $497 million. Our equity in the earnings of Conrail, net of amortization, included in “Purchased services and rents,” which offsets the costs of operating the Shared Assets Areas, was $53 million for 2019, $55 million for 2018, and $75 million for 2017 (including $33 million related to the enactment of tax reform – see Note 4). Equity in earnings are included in the “Other – net” line item within operating activities in the Consolidated Statements of Cash Flows. CRC owns and operates certain properties (the Shared Assets Areas) for the joint and exclusive benefit of NSR and CSX Transportation, Inc. (CSXT). The costs of operating the Shared Assets Areas are borne by NSR and CSXT based on usage. In addition, NSR and CSXT pay CRC a fee for access to the Shared Assets Areas. “Purchased services and rents” and “Fuel” include expenses payable to CRC for operation of the Shared Assets Areas totaling $149 million in 2019, $150 million in 2018, and $141 million in 2017. Future payments for access fees due to CRC under the Shared Assets Areas agreements are as follows: $40 million in each of 2020 through 2023 and $16 million thereafter. We provide certain general and administrative support functions to Conrail, the fees for which are billed in accordance with several service-provider arrangements and approximate $6 million annually. “Accounts payable” includes $264 million at December 31, 2019, and $202 million at December 31, 2018, due to Conrail for the operation of the Shared Assets Areas. “Other liabilities” includes $280 million at both December 31, 2019 and 2018 for long-term advances from Conrail, maturing in 2044, that bear interest at an average rate of 2.9%. Investment in TTX NS and eight other North American railroads jointly own TTX Company (TTX). NS has a 19.65% ownership interest in TTX, a railcar pooling company that provides its owner-railroads with standardized fleets of intermodal, automotive, and general use railcars at stated rates. Amounts paid to TTX for use of equipment are included in “Purchased services and rents.” This amounted to $244 million, $262 million, and $237 million of expense, respectively, for the years ended December 31, 2019, 2018 and 2017. Our equity in the earnings of TTX, which offset the costs and are also included in “Purchased services and rents,” totaled $58 million for 2019, $61 million for 2018, and $158 million for 2017 (including $115 million related to the enactment of tax reform –

Properties

Properties	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Properties	Properties Accumulated Net Book Depreciation December 31, 2019 Cost Depreciation Value Rate (1) ($ in millions) Land $ 2,385 $ — $ 2,385 — Roadway: Rail and other track material 7,024 (1,905) 5,119 2.30 % Ties 5,536 (1,496) 4,040 3.37 % Ballast 2,868 (723) 2,145 2.72 % Construction in process 360 — 360 — Other roadway 14,261 (3,786) 10,475 2.71 % Total roadway 30,049 (7,910) 22,139 Equipment: Locomotives 5,973 (2,112) 3,861 3.66 % Freight cars 2,988 (1,148) 1,840 2.45 % Computers and software 732 (355) 377 9.68 % Construction in process 291 — 291 — Other equipment 1,082 (388) 694 4.89 % Total equipment 11,066 (4,003) 7,063 Other property 96 (69) 27 1.05 % Total properties $ 43,596 $ (11,982) $ 31,614 Accumulated Net Book Depreciation December 31, 2018 Cost Depreciation Value Rate (1) ($ in millions) Land $ 2,337 $ — $ 2,337 — Roadway: Rail and other track material 6,888 (1,951) 4,937 2.29 % Ties 5,346 (1,448) 3,898 3.36 % Ballast 2,759 (676) 2,083 2.70 % Construction in process 442 — 442 — Other roadway 14,072 (3,737) 10,335 2.64 % Total roadway 29,507 (7,812) 21,695 Equipment: Locomotives 5,870 (2,262) 3,608 3.77 % Freight cars 3,183 (1,288) 1,895 2.47 % Computers and software 623 (365) 258 10.65 % Construction in process 437 — 437 — Other equipment 1,071 (380) 691 4.94 % Total equipment 11,184 (4,295) 6,889 Other property 437 (267) 170 0.78 % Total properties $ 43,465 $ (12,374) $ 31,091 (1) Composite annual depreciation rate for the underlying assets, excluding the effects of the amortization of any deficiency (or excess) that resulted from our depreciation studies. “Other current assets” on the Consolidated Balance Sheets at December 31, 2019 includes natural resource assets of $88 million, reflecting their status as held for sale. In 2019, we recorded a $49 million impairment loss related to our natural resource assets that we are actively marketing to sell. The impairment loss is reflected in “Gains and losses on properties” in the Consolidated Statements of Cash Flows for the year ended December 31, 2019. At December 31, 2018, these assets were reflected in other property within “Properties” on the Consolidated Balance Sheets, reflecting costs of obtaining rights to natural resources of $336 million, with associated accumulated depletion of $200 million. Capitalized Interest Total interest cost incurred on debt was $620 million, $574 million, and $570 million during 2019, 2018 and 2017, respectively, of which $16 million, $17 million, and $20 million were capitalized during 2019, 2018, and 2017, respectively.

Current Liabilities

Current Liabilities	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Current Liabilities	Current Liabilities December 31, 2019 2018 ($ in millions) Accounts payable: Accounts and wages payable $ 710 $ 828 Due to Conrail (Note 6) 264 202 Casualty and other claims (Note 17) 212 213 Vacation liability 136 140 Other 106 122 Total $ 1,428 $ 1,505 Other current liabilities: Interest payable $ 149 $ 139 Current operating lease liability (Note 10) 97 — Pension benefit obligations (Note 12) 18 18 Other 63 89 Total $ 327 $ 246

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt Debt with weighted average interest rates and maturities is presented below: December 31, 2019 2018 ($ in millions) Notes and debentures: 4.22% maturing to 2024 $ 2,497 $ 3,082 4.35% maturing 2025 to 2031 3,265 2,665 4.38% maturing 2037 to 2052 5,904 5,104 5.79% maturing 2097 to 2118 1,331 1,131 Financing leases 8 2 Discounts, premiums, and debt issuance costs (809) (839) Total debt 12,196 11,145 Less current maturities (316) (585) Long-term debt excluding current maturities $ 11,880 $ 10,560 Long-term debt maturities subsequent to 2020 are as follows: 2021 $ 586 2022 603 2023 600 2024 400 2025 and subsequent years 9,691 Total $ 11,880 In May 2019, we issued $200 million of 3.80% senior notes due 2028, $400 million of 4.10% senior notes due 2049, and $200 million of 5.10% senior notes due 2118. In November 2019, we issued $400 million of 2.55% senior notes due 2029 and $400 million of 3.40% senior notes due 2049. In May 2019, we also renewed and amended our accounts receivable securitization program, increasing the program’s maximum borrowing capacity from $400 million to $450 million with a term expiring in May 2020. Under this facility, NSR sells substantially all of its eligible third-party receivables to a subsidiary, which in turn may transfer beneficial interests in the receivables to various commercial paper vehicles. Under this facility, we received $600 million in 2019 and $50 million in 2018, and paid $600 million and $150 million during 2019 and 2018, respectively. We had no amounts outstanding at both December 31, 2019 and 2018, and our available borrowing capacity was $429 million and $400 million, respectively. The January 1, 2019 and December 31, 2018 “Cash, cash equivalents, and restricted cash” line item in the Consolidated Statements of Cash Flows includes restricted cash of $88 million which reflects deposits held by a third-party bond agent as collateral for certain debt obligations, which matured on October 1, 2019. The restricted cash balance is included as part of “Other current assets” on the Consolidated Balance Sheets at December 31, 2018. Credit Agreement and Debt Covenants We have in place and available a $750 million, five

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Leases In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) ,” and subsequent amendments, which replaced existing lease guidance in GAAP and requires lessees to recognize ROU assets and lease liabilities on the balance sheet for leases greater than twelve months and disclose key information about leasing arrangements. We adopted the standard on January 1, 2019 using the modified retrospective method and used the effective date as our date of initial application. Financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. Upon adoption of the standard, we recognized ROU assets and corresponding lease liabilities of $586 million on the Consolidated Balance Sheets as of January 1, 2019. There were no adjustments to “Retained income” on adoption. The new standard provides a number of optional practical expedients for transition. We elected the package of practical expedients under the transition guidance which permitted us not to reassess under the new standard our prior conclusions for lease identification and lease classification on expired or existing contracts and whether initial direct costs previously capitalized would qualify for capitalization under FASB ASC 842. We also elected the practical expedient related to land easements, which allowed us to not reassess our current accounting treatment for existing agreements on land easements, which are not accounted for as leases. We did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The new standard also provides practical expedients and recognition exemptions for an entity’s ongoing accounting policy elections. We elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, we do not recognize ROU assets or lease liabilities. We also elected the practical expedient not to separate lease and non-lease components for all of our leases. We are committed under long-term lease agreements for equipment, lines of road, and other property. Some of these agreements contain variable payment provisions that depend on an index or rate, initially measured using the index or rate at the lease commencement date, and are therefore not included in our future minimum lease payments. These variable lease agreements include usage-based payments for equipment under service contracts, lines of road, and other property. Our long-term lease agreements do not contain any material restrictive covenants. Our equipment leases have remaining terms of less than 1 year to 9 years and our lines of road and land leases have remaining terms of less than 1 year to 138 years. Some of these leases include options to extend the leases for up to 99 years and some include options to terminate the leases within 30 days. Because we are not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated payments are excluded from future minimum lease payments. Leases with an initial term of twelve months or less are not recorded on the balance sheet. We recognize lease expense for these leases on a straight-line basis over the lease term. Operating lease amounts included on the Consolidated Balance Sheet were as follows: December 31, 2019 ($ in millions) Assets Classification ROU assets Other assets $ 539 Liabilities Current lease liabilities Other current liabilities $ 97 Non-current lease liabilities Other liabilities 441 Total lease liabilities $ 538 The components of total lease expense, primarily included in “Purchased services and rents,” were as follows: December 31, 2019 ($ in millions) Operating lease expense $ 114 Variable lease expense 57 Short-term lease expense 5 Total lease expense $ 176 At December 31, 2019, we do not have any material finance lease assets or liabilities, nor do we have any material subleases. In March 2019, we entered into a non-cancellable lease for an office building with an estimated construction cost of $550 million. The lease will commence upon completion of the construction (for which we are a construction agent) of the office building which is expected to be in 2021. The initial term of the lease is five years with options to renew, purchase, or sell the office building at the end of the lease term. Upon lease commencement, the ROU asset and lease liability will be determined and recorded. The lease also contains a residual value guarantee of up to ninety percent of the total construction cost. Other information related to operating leases was as follows: December 31, 2019 Weighted-average remaining lease term (years) on operating leases 8.25 Weighted-average discount rates on operating leases 3.52 % As the rates implicit in most of our leases are not readily determinable, we use a collateralized incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. We use the portfolio approach and group leases into short, medium, and long-term categories, applying the corresponding incremental borrowing rates to these categories of leases. During 2019, ROU assets obtained in exchange for new operating lease liabilities were $49 million. During 2019, cash paid for amounts included in the measurement of lease liabilities was $114 million and is included in operating cash flows. During 2019, cash proceeds from a sale and leaseback transaction were $82 million and the gain on the transaction was $15 million. Future minimum lease payments under non-cancellable operating leases were as follows: December 31, 2019 ($ in millions) 2020 $ 110 2021 104 2022 79 2023 70 2024 61 2025 and subsequent years 206 Total lease payments 630 Less: Interest 92 Present value of lease liabilities $ 538 Undiscounted future minimum lease payments under non-cancellable operating leases accounted for under ASC 840 “ Leases ” were as follows: December 31, 2018 ($ in millions) 2019 $ 101 2020 95 2021 88 2022 75 2023 69 2024 and subsequent years 267 Total $ 695 Operating lease expense accounted for under ASC 840 “ Leases ” was as follows: 2018 2017 ($ in millions) Minimum rents $ 102 $ 96 Contingent rents 102 54 Total $ 204 $ 150 Contingent rents are primarily comprised of usage-based payments for equipment under service contracts.

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities December 31, 2019 2018 ($ in millions) Non-current operating lease liability (Note 10) $ 441 $ — Net pension benefit obligations (Note 12) 302 278 Net other postretirement benefit obligations (Note 12) 287 308 Long-term advances from Conrail (Note 6) 280 280 Casualty and other claims (Note 17) 171 158 Deferred compensation 104 106 Other 159 136 Total $ 1,744 $ 1,266

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Pensions And Other Postretirement Benefits	Pensions and Other Postretirement Benefits We have both funded and unfunded defined benefit pension plans covering principally salaried employees. We also provide specified health care and life insurance benefits to eligible retired employees; these plans can be amended or terminated at our option. Under our self-insured retiree health care plan, for those participants who are not Medicare-eligible, certain health care expenses are covered for retired employees and their dependents, reduced by any deductibles, coinsurance, and, in some cases, coverage provided under other group insurance policies. Those participants who are Medicare-eligible are not covered under the self-insured retiree health care plan, but instead are provided with an employer-funded health reimbursement account which can be used for reimbursement of health insurance premiums or eligible out-of-pocket medical expenses. Pension and Other Postretirement Benefit Obligations and Plan Assets Pension Benefits Other Postretirement 2019 2018 2019 2018 ($ in millions) Change in benefit obligations: Benefit obligation at beginning of year $ 2,371 $ 2,541 $ 466 $ 510 Service cost 35 39 6 7 Interest cost 93 83 17 15 Actuarial losses (gains) 235 (149) 28 (24) Plan amendment — — (18) — Benefits paid (146) (143) (42) (42) Benefit obligation at end of year 2,588 2,371 457 466 Change in plan assets: Fair value of plan assets at beginning of year 2,105 2,373 158 201 Actual return on plan assets 485 (143) 34 (19) Employer contribution 18 18 20 18 Benefits paid (146) (143) (42) (42) Fair value of plan assets at end of year 2,462 2,105 170 158 Funded status at end of year $ (126) $ (266) $ (287) $ (308) Amounts recognized in the Consolidated Balance Sheets: Other assets $ 194 $ 30 $ — $ — Other current liabilities (18) (18) — — Other liabilities (302) (278) (287) (308) Net amount recognized $ (126) $ (266) $ (287) $ (308) Amounts included in accumulated other comprehensive loss (before tax): Net loss $ 781 $ 895 $ 29 $ 21 Prior service cost (benefit) 1 2 (253) (259) Our accumulated benefit obligation for our defined benefit pension plans is $2.3 billion and $2.2 billion at December 31, 2019 and 2018, respectively. Our unfunded pension plans, included above, which in all cases have no assets, had projected benefit obligations of $320 million and $296 million at December 31, 2019 and 2018, respectively, and had accumulated benefit obligations of $292 million and $263 million at December 31, 2019 and 2018, respectively. Pension and Other Postretirement Benefit Cost Components 2019 2018 2017 ($ in millions) Pension benefits: Service cost $ 35 $ 39 $ 38 Interest cost 93 83 80 Expected return on plan assets (179) (177) (172) Amortization of net losses 43 57 51 Amortization of prior service cost 1 — 1 Net cost (benefit) $ (7) $ 2 $ (2) Other postretirement benefits: Service cost $ 6 $ 7 $ 7 Interest cost 17 15 15 Expected return on plan assets (14) (15) (15) Amortization of prior service benefit (24) (24) (24) Net benefit $ (15) $ (17) $ (17) Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income 2019 Pension Other ($ in millions) Net loss (gain) arising during the year $ (71) $ 8 Prior service effect of plan amendment — (18) Amortization of net losses (43) — Amortization of prior service (cost) benefit (1) 24 Total recognized in other comprehensive income $ (115) $ 14 Total recognized in net periodic cost and other comprehensive income $ (122) $ (1) Net gains arising during the year for pension benefits were due primarily to higher actual returns on plan assets, partially offset by a decrease in discount rates. Net losses arising during the year for other postretirement benefits were due primarily to a decrease in discount rates, partially offset by higher actual returns on plan assets. The estimated net losses for the pension plans that will be amortized from accumulated other comprehensive loss into net periodic cost over the next year are $52 million. The estimated prior service benefit for the other postretirement benefit plans that will be amortized from accumulated other comprehensive loss into net periodic benefit over the next year is $25 million. Pension and Other Postretirement Benefits Assumptions Costs for pension and other postretirement benefits are determined based on actuarial valuations that reflect appropriate assumptions as of the measurement date, ordinarily the beginning of each year. The funded status of the plans is determined using appropriate assumptions as of each year end. A summary of the major assumptions follows: 2019 2018 2017 Pension funded status: Discount rate 3.38 % 4.33 % 3.74 % Future salary increases 4.21 % 4.21 % 4.21 % Other postretirement benefits funded status: Discount rate 3.13 % 4.18 % 3.57 % Pension cost: Discount rate - service cost 4.55 % 4.01 % 4.31 % Discount rate - interest cost 3.99 % 3.33 % 3.43 % Return on assets in plans 8.25 % 8.25 % 8.25 % Future salary increases 4.21 % 4.21 % 4.21 % Other postretirement benefits cost: Discount rate - service cost 4.39 % 3.83 % 4.17 % Discount rate - interest cost 3.83 % 3.13 % 3.14 % Return on assets in plans 8.00 % 8.00 % 8.00 % Health care trend rate 6.50 % 6.30 % 6.56 % To determine the discount rates used to measure our benefit obligations, we utilize analyses in which the projected annual cash flows from the pension and other postretirement benefit plans were matched with yield curves based on an appropriate universe of high-quality corporate bonds. We use the results of the yield curve analyses to select the discount rates that match the payment streams of the benefits in these plans. We use a spot rate approach to estimate the service cost and interest cost components of net periodic benefit cost for our pension and other postretirement benefit plans. Health Care Cost Trend Assumptions For measurement purposes at December 31, 2019, increases in the per capita cost of pre-Medicare covered health care benefits were assumed to be 6.25% for 2020. It is assumed the rate will decrease gradually to an ultimate rate of 5.0% for 2025 and remain at that level thereafter. Assumed health care cost trend rates affect the amounts reported in the consolidated financial statements. To illustrate, a one-percentage point change in the assumed health care cost trend would have the following effects: One-percentage point Increase Decrease ($ in millions) Increase (decrease) in: Total service and interest cost components $ 1 $ (1) Postretirement benefit obligation 8 (7) Asset Management Eleven investment firms manage our defined benefit pension plans’ assets under investment guidelines approved by our Benefits Investment Committee that is composed of members of our management. Investments are restricted to domestic and international equity securities, domestic and international fixed income securities, and unleveraged exchange-traded options and financial futures. Limitations restrict investment concentration and use of certain derivative investments. The target asset allocation for equity is 75% of the pension plans’ assets. Fixed income investments must consist predominantly of securities rated investment grade or higher. Equity investments must be in liquid securities listed on national exchanges. No investment is permitted in our securities (except through commingled pension trust funds). Our pension plans’ weighted average asset allocations, by asset category, were as follows: Percentage of plan 2019 2018 Domestic equity securities 50 % 49 % International equity securities 24 % 23 % Debt securities 24 % 25 % Cash and cash equivalents 2 % 3 % Total 100 % 100 % The other postretirement benefit plan assets consist primarily of trust-owned variable life insurance policies with an asset allocation at December 31, 2019 of 67% in equity securities and 33% in debt securities compared with 64% in equity securities and 36% in debt securities at December 31, 2018. The target asset allocation for equity is between 50% and 75% of the plan’s assets. The plans’ assumed future returns are based principally on the asset allocations and historical returns for the plans’ asset classes determined from both actual plan returns and, over longer time periods, expected market returns for those asset classes. For 2020, we assume an 8.25% return on pension plan assets. Fair Value of Plan Assets The following is a description of the valuation methodologies used for pension plan assets measured at fair value. Common stock: Shares held by the plan at year end are valued at the official closing price as defined by the exchange or at the most recent trade price of the security at the close of the active market. Common collective trusts: The readily determinable fair value is based on the published fair value per unit of the trusts. The common collective trusts hold equity securities, fixed income securities and cash and cash equivalents. Fixed income securities: Valued based on quotes received from independent pricing services or at an estimated price at which a dealer would pay for the security at year end using observable market-based inputs. Commingled funds: The readily determinable fair value is based on the published fair value per unit of the funds. The commingled funds hold equity securities. Cash and cash equivalents: Short-term Treasury bills or notes are valued at an estimated price at which a dealer would pay for the security at year end using observable market-based inputs; money market funds are valued at the closing price reported on the active market on which the funds are traded. The following table sets forth the pension plans’ assets by valuation technique level, within the fair value hierarchy. There were no level 3 valued assets at December 31, 2019 or 2018. December 31, 2019 Level 1 Level 2 Total ($ in millions) Common stock $ 1,329 $ — $ 1,329 Common collective trusts: International equity securities — 377 377 Debt securities — 303 303 Fixed income securities: Government and agencies securities — 172 172 Corporate bonds — 84 84 Mortgage and other asset-backed securities — 26 26 Commingled funds — 121 121 Cash and cash equivalents 50 — 50 Total investments $ 1,379 $ 1,083 $ 2,462 December 31, 2018 Level 1 Level 2 Total ($ in millions) Common stock $ 1,106 $ — $ 1,106 Common collective trusts: International equity securities — 314 314 Debt securities — 287 287 Fixed income securities: Government and agencies securities — 89 89 Corporate bonds — 83 83 Mortgage and other asset-backed securities — 62 62 Commingled funds — 92 92 Cash and cash equivalents 72 — 72 Total investments $ 1,178 $ 927 $ 2,105 The following is a description of the valuation methodologies used for other postretirement benefit plan assets measured at fair value. Trust-owned life insurance: Valued at our share of the net assets of trust-owned life insurance issued by a major insurance company. The underlying investments of that trust consist of a U.S. stock account and a U.S. bond account but may retain cash at times as well. The U.S. stock account and U.S. bond account are valued based on readily determinable fair values. The other postretirement benefit plan assets consisted of trust-owned life insurance with fair values of $170 million and $158 million at December 31, 2019 and 2018, respectively, and are valued under level 2 of the fair value hierarchy. There were no level 1 or level 3 valued assets. Contributions and Estimated Future Benefit Payments In 2020, we expect to contribute approximately $18 million to our unfunded pension plans for payments to pensioners and approximately $37 million to our other postretirement benefit plans for retiree health and death benefits. We do not expect to contribute to our funded pension plan in 2020. Benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: Pension Other Postretirement Benefits ($ in millions) 2020 $ 144 $ 37 2021 144 36 2022 144 34 2023 144 33 2024 144 32 Years 2025 – 2029 719 148 Other Postretirement Coverage Under collective bargaining agreements, Norfolk Southern and certain subsidiaries participate in a multi-employer benefit plan, which provides certain postretirement health care and life insurance benefits to eligible union employees. Premiums under this plan are expensed as incurred and totaled $31 million in 2019, $35 million in 2018, and $44 million in 2017. Section 401(k) Plans Norfolk Southern and certain subsidiaries provide Section 401(k) savings plans for employees. Under the plans, we match a portion of employee contributions, subject to applicable limitations. Our matching contributions, recorded as an expense, under these plans were $22 million in 2019 and $23 million in both 2018 and 2017.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Under the stockholder-approved Long-Term Incentive Plan (LTIP), the Compensation Committee (Committee), which is made up of nonemployee members of the Board of Directors, or the Chief Executive Officer (when delegated authority by such Committee), may grant stock options, stock appreciation rights (SARs), restricted stock units (RSUs), restricted shares, performance share units (PSUs), and performance shares, up to a maximum of 104,125,000 shares of our Common Stock, of which 9,294,726 remain available for future grants as of December 31, 2019. The number of shares remaining for issuance under the LTIP is reduced (i) by 1 for each award granted as a stock option or stock-settled SAR, or (ii) by 1.61 for an award made in the form other than a stock option or stock-settled SAR. Under the Board-approved Thoroughbred Stock Option Plan (TSOP), the Committee may grant stock options up to a maximum of 6,000,000 shares of Common Stock. We use newly issued shares to satisfy any exercises and awards under the LTIP and the TSOP. The LTIP also permits the payment, on a current or a deferred basis and in cash or in stock, of dividend equivalents on shares of Common Stock covered by stock options, RSUs, or PSUs in an amount commensurate with regular quarterly dividends paid on Common Stock. With respect to stock options, if employment of the participant is terminated for any reason, including retirement, disability, or death, we have no further obligation to make any dividend equivalent payments. Regarding RSUs, we have no further obligation to make any dividend equivalent payments unless employment of the participant is terminated as a result of qualifying retirement or disability. Should an employee terminate employment, they are not required to forfeit dividend equivalent payments already received. Outstanding PSUs do not receive dividend equivalent payments. The Committee granted stock options, RSUs and PSUs pursuant to the LTIP and granted stock options pursuant to the TSOP for the last three years as follows: 2019 2018 2017 Granted Weighted Average Grant-Date Fair Value Granted Weighted Average Grant-Date Fair Value Granted Weighted Average Grant-Date Fair Value Stock options: LTIP 47,360 $ 45.74 40,960 $ 41.70 341,120 $ 37.73 TSOP — — — — 144,440 31.33 Total 47,360 40,960 485,560 RSUs 219,710 164.47 217,290 148.37 83,330 120.16 PSUs 102,250 160.97 92,314 147.47 300,334 88.56 Beginning in 2018, recipients of certain RSUs and PSUs pursuant to the LTIP who retire prior to October 1st will forfeit awards received in the current year. Receipt of certain LTIP awards is contingent on the recipient having executed a non-compete agreement with the company. We account for our grants of stock options, RSUs, PSUs, and dividend equivalent payments in accordance with FASB ASC 718, “ Compensation - Stock Compensation .” Accordingly, all awards result in charges to net income while dividend equivalent payments, which are all related to equity classified awards, are charged to retained income. Compensation cost for the awards is recognized on a straight-line basis over the requisite service period for the entire award. Related compensation costs and tax benefits during the year were: 2019 2018 2017 ($ in millions) Stock-based compensation expense $ 53 $ 47 $ 45 Total tax benefit 37 33 54 Stock Options Option exercise prices will be at least the higher of (i) the average of the high and low prices at which Common Stock is traded on the grant date, or (ii) the closing price of Common Stock on the grant date. All options are subject to a vesting period of at least one year, and the term of the option will not exceed ten years. Holders of the options granted under the LTIP who remain actively employed receive cash dividend equivalent payments for four years in an amount equal to the regular quarterly dividends paid on Common Stock. Dividend equivalent payments are not made on the TSOP options. For all years, options granted under the LTIP and the TSOP may not be exercised prior to the fourth and third anniversaries of the date of grant, respectively, or if the optionee retires or dies before that anniversary date, may not be exercised before the later of one year after the grant date or the date of the optionee’s retirement or death. The fair value of each option awarded in 2019 and 2018 was measured on the date of grant using the Black-Scholes valuation model. The fair value of each option awarded in 2017 was measured on the date of grant using a binomial lattice-based option valuation model. Expected volatility is based on implied volatility from traded options on, and historical volatility of, Common Stock. Historical data is used to estimate option exercises and employee terminations within the valuation model. For the 2019 and 2018 grant years, historical exercise data is used to estimate the average expected option term. For the 2017 grant year, the average expected option term is derived from the output of the valuation model and represents the period of time that all options granted are expected to be outstanding, including the branches of the model that result in options expiring unexercised. The average risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. A dividend yield of zero was used for the LTIP options during the vesting period. For 2019, 2018, and 2017, a dividend yield of 2.06%, 1.94%, and 2.04%, respectively, was used for all vested LTIP options and all TSOP options. The assumptions for the LTIP and TSOP grants for the last three years are shown in the following table: 2019 2018 2017 Average expected volatility 23 % 24 % 26 % Average risk-free interest rate 2.56 % 2.55 % 2.51 % Average expected option term LTIP 7.2 years 7.2 years 8.6 years Average expected option term TSOP — — 8.3 years A summary of changes in stock options is presented below: Stock Weighted Avg. Exercise Price Outstanding at December 31, 2018 3,419,644 $ 86.66 Granted 47,360 168.36 Exercised (770,597) 74.39 Forfeited (18,958) 105.28 Outstanding at December 31, 2019 2,677,449 91.51 The aggregate intrinsic value of options outstanding at December 31, 2019 was $275 million with a weighted average remaining contractual term of 5 years. Of these options outstanding, 1,856,019 were exercisable and had an aggregate intrinsic value of $196 million with a weighted average exercise price of $88.48 and a weighted average remaining contractual term of 2.9 years. The following table provides information related to options exercised for the last three years: 2019 2018 2017 ($ in millions) Options exercised 770,597 840,175 1,789,939 Total intrinsic value $ 86 $ 72 $ 114 Cash received upon exercise 53 58 104 Related tax benefits realized 18 16 35 At December 31, 2019, total unrecognized compensation related to options granted under the LTIP and the TSOP was $2 million, and is expected to be recognized over a weighted-average period of approximately 1.6 years. Restricted Stock Units Beginning in 2018, RSUs granted primarily have a four five 2019 2018 2017 ($ in millions) RSUs vested 166,197 160,200 137,200 Common Stock issued net of tax withholding 119,346 99,968 81,318 Related tax benefit realized $ 2 $ 3 $ 3 A summary of changes in RSUs is presented below: RSUs Weighted- Nonvested at December 31, 2018 637,035 $ 111.87 Granted 219,710 164.47 Vested (166,197) 111.79 Forfeited (24,376) 152.17 Nonvested at December 31, 2019 666,172 127.77 At December 31, 2019, total unrecognized compensation related to RSUs was $25 million, and is expected to be recognized over a weighted-average period of approximately 2.6 years. Performance Share Units PSUs provide for awards based on the achievement of certain predetermined corporate performance goals at the end of a three 2019 2018 2017 ($ in millions) PSUs earned 331,099 154,189 171,080 Common Stock issued net of tax withholding 221,241 94,399 99,805 Related tax benefit realized $ 9 $ 3 $ 1 A summary of changes in PSUs is presented below: PSUs Weighted- Balance at December 31, 2018 1,426,826 $ 66.35 Granted 102,250 160.97 Earned (331,099) 42.70 Unearned (735,048) 60.02 Forfeited (6,419) 126.92 Balance at December 31, 2019 456,510 114.04 At December 31, 2019, total unrecognized compensation related to PSUs granted under the LTIP was $6 million, and is expected to be recognized over a weighted-average period of approximately 1.7 years. Shares Available and Issued Shares of Common Stock available for future grants and issued in connection with all features of the LTIP and the TSOP at December 31, were as follows: 2019 2018 2017 Available for future grants: LTIP 9,294,726 8,644,108 8,774,768 TSOP 434,401 422,973 410,895 Issued: LTIP 852,869 820,746 1,679,547 TSOP 258,315 213,796 291,515

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock Common Stock is reported net of shares held by our consolidated subsidiaries (Treasury Shares). Treasury Shares at December 31, 2019 and 2018 amounted to 20,320,777, with a cost of $19 million at both dates. Accumulated Other Comprehensive Loss The components of “Other comprehensive income (loss)” reported in the Consolidated Statements of Comprehensive Income and changes in the cumulative balances of “Accumulated other comprehensive loss” reported in the Consolidated Balance Sheets consisted of the following: Balance Net Income Reclassification Reclassification Balance ($ in millions) Year ended December 31, 2019 Pensions and other postretirement liabilities $ (497) $ 61 $ — $ 15 $ (421) Other comprehensive loss of equity investees (66) (4) — — (70) Accumulated other comprehensive loss $ (563) $ 57 $ — $ 15 $ (491) Year ended December 31, 2018 Pensions and other postretirement liabilities $ (300) $ (136) $ (86) $ 25 $ (497) Other comprehensive loss of equity investees (56) (8) (2) — (66) Accumulated other comprehensive loss $ (356) $ (144) $ (88) $ 25 $ (563) The adoption of FASB ASU 2018-02 (see Note 1) resulted in an increase to “Accumulated other comprehensive loss” of $88 million and a corresponding increase to “Retained income,” with no impact on “Total stockholders’ equity.” Other Comprehensive Income (Loss) “Other comprehensive income (loss)” reported in the Consolidated Statements of Comprehensive Income consisted of the following: Pretax Tax Net-of-Tax ($ in millions) Year ended December 31, 2019 Net gain arising during the year: Pensions and other postretirement benefits $ 81 $ (20) $ 61 Reclassification adjustments for costs included in net income 20 (5) 15 Subtotal 101 (25) 76 Other comprehensive loss of equity investees (4) — (4) Other comprehensive income $ 97 $ (25) $ 72 Year ended December 31, 2018 Net gain (loss) arising during the year: Pensions and other postretirement benefits $ (181) $ 45 $ (136) Reclassification adjustments for costs included in net income 33 (8) 25 Subtotal (148) 37 (111) Other comprehensive loss of equity investees (9) 1 (8) Other comprehensive loss $ (157) $ 38 $ (119) Year ended December 31, 2017 Net gain arising during the year: Pensions and other postretirement benefits $ 127 $ (32) $ 95 Reclassification adjustments for costs included in net income 28 (9) 19 Subtotal 155 (41) 114 Other comprehensive income of equity investees 19 (2) 17 Other comprehensive income $ 174 $ (43) $ 131

Stock Repurchase Programs

Stock Repurchase Programs	12 Months Ended
	Dec. 31, 2019
Stock Repurchase Program [Abstract]
Stock Repurchase Programs	Stock Repurchase Programs We repurchased and retired 11.3 million, 17.1 million (7.0 million shares under the ASR and 10.1 million shares under our ongoing open-market program), and 8.2 million shares of Common Stock under our stock repurchase programs in 2019, 2018, and 2017, respectively, at a cost of $2.1 billion, $2.8 billion, and $1.0 billion, respectively. On September 26, 2017, our Board of Directors authorized the repurchase of up to an additional 50 million shares of Common Stock through December 31, 2022. As of December 31, 2019 , 28.0 million shares remain authorized for repurchase. Since the beginning of 2006, we have repurchased and retired 196.9 million shares at a total cost of $16.2 billion.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the calculation of basic and diluted earnings per share: Basic Diluted 2019 2018 2017 2019 2018 2017 ($ in millions except per share amounts, shares in millions) Net income $ 2,722 $ 2,666 $ 5,404 $ 2,722 $ 2,666 $ 5,404 Dividend equivalent payments (5) (6) (4) — (1) (2) Income available to common stockholders $ 2,717 $ 2,660 $ 5,400 $ 2,722 $ 2,665 $ 5,402 Weighted-average shares outstanding 263.3 277.7 287.9 263.3 277.7 287.9 Dilutive effect of outstanding options and share-settled awards 2.3 2.5 2.4 Adjusted weighted-average shares outstanding 265.6 280.2 290.3 Earnings per share $ 10.32 $ 9.58 $ 18.76 $ 10.25 $ 9.51 $ 18.61 In each year, dividend equivalent payments were made to holders of stock options and RSUs. For purposes of computing basic earnings per share, dividend equivalent payments made to holders of stock options and RSUs were deducted from net income to determine income available to common stockholders. For purposes of computing diluted earnings per share, we evaluate on a grant-by-grant basis those stock options and RSUs receiving dividend equivalent payments under the two-class and treasury stock methods to determine which method is more dilutive for each grant. For those grants for which the two-class method was more dilutive, net income was reduced by dividend equivalent payments to determine income available to common stockholders. The dilution calculations exclude options having exercise prices exceeding the average market price of Common Stock of zero for the years ended December 31, 2019 and 2018, and 0.2 million for the year ended December 31, 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lawsuits We and/or certain subsidiaries are defendants in numerous lawsuits and other claims relating principally to railroad operations. When we conclude that it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, it is accrued through a charge to earnings. While the ultimate amount of liability incurred in any of these lawsuits and claims is dependent on future developments, in our opinion, the recorded liability is adequate to cover the future payment of such liability and claims. However, the final outcome of any of these lawsuits and claims cannot be predicted with certainty, and unfavorable or unexpected outcomes could result in additional accruals that could be significant to results of operations in a particular year or quarter. Any adjustments to the recorded liability will be reflected in earnings in the periods in which such adjustments become known. In 2007, various antitrust class actions filed against us and other Class I railroads in various Federal district courts regarding fuel surcharges were consolidated in the District of Columbia by the Judicial Panel on Multidistrict Litigation. In 2012, the court certified the case as a class action. The defendant railroads appealed this certification, and the Court of Appeals for the District of Columbia vacated the District Court’s decision and remanded the case for further consideration. On October 10, 2017, the District Court denied class certification. The decision was upheld by the Court of Appeals on August 16, 2019. Since that decision, various individual cases have been filed in multiple jurisdictions. We believe the allegations in the complaints are without merit and intend to vigorously defend the cases. We do not believe the outcome of these proceedings will have a material effect on our financial position, results of operations, or liquidity. Casualty Claims Casualty claims include employee personal injury and occupational claims as well as third-party claims, all exclusive of legal costs. To aid in valuing our personal injury liability and determining the amount to accrue with respect to such claims during the year, we utilize studies prepared by an independent consulting actuarial firm. Job-related personal injury and occupational claims are subject to FELA, which is applicable only to railroads. FELA’s fault-based tort system produces results that are unpredictable and inconsistent as compared with a no-fault workers’ compensation system. The variability inherent in this system could result in actual costs being different from the liability recorded. While the ultimate amount of claims incurred is dependent on future developments, in our opinion, the recorded liability is adequate to cover the future payments of claims and is supported by the most recent actuarial study. In all cases, we record a liability when the expected loss for the claim is both probable and reasonably estimable. Employee personal injury claims – The largest component of casualties and other claims expense is employee personal injury costs. The independent actuarial firm engaged by us provides quarterly studies to aid in valuing our employee personal injury liability and estimating personal injury expense. The actuarial firm studies our historical patterns of reserving for claims and subsequent settlements, taking into account relevant outside influences. The actuarial firm uses the results of these analyses to estimate the ultimate amount of liability. We adjust the liability quarterly based upon our assessment and the results of the study. Our estimate of the liability is subject to inherent limitation given the difficulty of predicting future events such as jury decisions, court interpretations, or legislative changes. As a result, actual claim settlements may vary from the estimated liability recorded. Occupational claims – Occupational claims include injuries and illnesses alleged to be caused by exposures which occur over time as opposed to injuries or illnesses caused by a specific accident or event. Types of occupational claims commonly seen allege exposure to asbestos and other claimed toxic substances resulting in respiratory diseases or cancer. Many such claims are being asserted by former or retired employees, some of whom have not been employed in the rail industry for decades. The independent actuarial firm provides an estimate of the occupational claims liability based upon our history of claim filings, severity, payments, and other pertinent facts. The liability is dependent upon judgments we make as to the specific case reserves as well as judgments of the actuarial firm in the quarterly studies. The actuarial firm’s estimate of ultimate loss includes a provision for those claims that have been incurred but not reported. This provision is derived by analyzing industry data and projecting our experience. We adjust the liability quarterly based upon our assessment and the results of the study. However, it is possible that the recorded liability may not be adequate to cover the future payment of claims. Adjustments to the recorded liability are reflected in operating expenses in the periods in which such adjustments become known. Third-party claims – We record a liability for third-party claims including those for highway crossing accidents, trespasser and other injuries, property damage, and lading damage. The actuarial firm assists us with the calculation of potential liability for third-party claims, except lading damage, based upon our experience including the number and timing of incidents, amount of payments, settlement rates, number of open claims, and legal defenses. We adjust the liability quarterly based upon our assessment and the results of the study. Given the inherent uncertainty in regard to the ultimate outcome of third-party claims, it is possible that the actual loss may differ from the estimated liability recorded. Environmental Matters We are subject to various jurisdictions’ environmental laws and regulations. We record a liability where such liability or loss is probable and reasonably estimable. Environmental specialists regularly participate in ongoing evaluations of all known sites and in determining any necessary adjustments to liability estimates. Our Consolidated Balance Sheets include liabilities for environmental exposures of $56 million at December 31, 2019, and $55 million at December 31, 2018, of which $15 million is classified as a current liability at the end of both 2019 and 2018. At December 31, 2019, the liability represents our estimates of the probable cleanup, investigation, and remediation costs based on available information at 110 known locations and projects compared with 114 locations and projects at December 31, 2018. At December 31, 2019, sixteen sites accounted for $40 million of the liability, and no individual site was considered to be material. We anticipate that much of this liability will be paid out over five years; however, some costs will be paid out over a longer period. At eleven locations, one or more of our subsidiaries in conjunction with a number of other parties have been identified as potentially responsible parties under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or comparable state statutes that impose joint and several liability for cleanup costs. We calculate our estimated liability for these sites based on facts and legal defenses applicable to each site and not solely on the basis of the potential for joint liability. With respect to known environmental sites (whether identified by us or by the Environmental Protection Agency or comparable state authorities), estimates of our ultimate potential financial exposure for a given site or in the aggregate for all such sites can change over time because of the widely varying costs of currently available cleanup techniques, unpredictable contaminant recovery and reduction rates associated with available cleanup technologies, the likely development of new cleanup technologies, the difficulty of determining in advance the nature and full extent of contamination and each potential participant’s share of any estimated loss (and that participant’s ability to bear it), and evolving statutory and regulatory standards governing liability. The risk of incurring environmental liability for acts and omissions, past, present, and future, is inherent in the railroad business. Some of the commodities we transport, particularly those classified as hazardous materials, pose special risks that we work diligently to reduce. In addition, several of our subsidiaries own, or have owned, land used as operating property, or which is leased and operated by others, or held for sale. Because environmental problems that are latent or undisclosed may exist on these properties, there can be no assurance that we will not incur environmental liabilities or costs with respect to one or more of them, the amount and materiality of which cannot be estimated reliably at this time. Moreover, lawsuits and claims involving these and potentially other unidentified environmental sites and matters are likely to arise from time to time. The resulting liabilities could have a significant effect on financial position, results of operations, or liquidity in a particular year or quarter. Based on our assessment of the facts and circumstances now known, we believe we have recorded the probable and reasonably estimable costs for dealing with those environmental matters of which we are aware. Further, we believe that it is unlikely that any known matters, either individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, or liquidity. Insurance We obtain on behalf of ourself and our subsidiaries insurance for potential losses for third-party liability and first-party property damages. With limited exceptions, we are currently insured above $75 million and below $1.1 billion ($1.5 billion for specific perils) per occurrence and/or policy year for bodily injury and property damage to third parties and above $25 million and below $200 million per occurrence and/or policy year for property owned by us or in our care, custody, or control. Purchase Commitments At December 31, 2019, we had outstanding purchase commitments totaling approximately $1.2 billion for locomotives, track material, long-term service contracts, track and yard expansion projects in connection with our capital programs as well as freight cars and containers through 2024. Change-In-Control Arrangements We have compensation agreements with certain officers and key employees that become operative only upon a change in control of Norfolk Southern, as defined in those agreements. The agreements provide generally for payments based on compensation at the time of a covered individual’s involuntary or other specified termination and for certain other benefits. Indemnifications In a number of instances, we have agreed to indemnify lenders for additional costs they may bear as a result of certain changes in laws or regulations applicable to their loans. Such changes may include impositions or modifications with respect to taxes, duties, reserves, liquidity, capital adequacy, special deposits, and similar requirements relating to extensions of credit by, deposits with, or the assets or liabilities of such lenders. The nature and timing of changes in laws or regulations applicable to our financings are inherently unpredictable, and therefore our exposure in connection with the foregoing indemnifications cannot be quantified. No liability has been recorded related to these indemnifications.

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	NORFOLK SOUTHERN CORPORATION AND SUBSIDIARIES QUARTERLY FINANCIAL DATA (Unaudited) Three Months Ended March 31 June 30 September 30 December 31 ($ in millions, except per share amounts) 2019 Railway operating revenues $ 2,840 $ 2,925 $ 2,841 $ 2,690 Income from railway operations 966 1,065 996 962 Net income 677 722 657 666 Earnings per share: Basic 2.53 2.72 2.50 2.56 Diluted 2.51 2.70 2.49 2.55 2018 Railway operating revenues $ 2,717 $ 2,898 $ 2,947 $ 2,896 Income from railway operations 835 1,026 1,020 1,078 Net income 552 710 702 702 Earnings per share: Basic 1.94 2.52 2.54 2.59 Diluted 1.93 2.50 2.52 2.57

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Norfolk Southern Corporation and Subsidiaries Valuation and Qualifying Accounts Years ended December 31, 2019, 2018, and 2017 ($ in millions) Additions charged to: Beginning Expenses Other Accounts Deductions Ending Year ended December 31, 2019 Current portion of casualty and other claims included in accounts payable $ 213 $ 22 $ 131 (2) $ 154 (3) $ 212 Casualty and other claims included in other liabilities 158 89 (1) — 76 (4) 171 Year ended December 31, 2018 Current portion of casualty and other claims included in accounts payable $ 187 $ 32 $ 145 (2) $ 151 (3) $ 213 Casualty and other claims included in other liabilities 179 85 (1) — 106 (4) 158 Year ended December 31, 2017 Current portion of casualty and other claims included in accounts payable $ 192 $ 17 $ 124 (2) $ 146 (3) $ 187 Casualty and other claims included in other liabilities 178 83 (1) — 82 (4) 179 (1) Includes adjustments for changes in estimates for prior years’ claims. (2) Includes revenue refunds and overcharges provided through deductions from operating revenues and transfers from other accounts. (3) Payments and reclassifications to/from other liabilities. (4) Payments and reclassifications to/from accounts payable.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Description of Business	Description of Business Norfolk Southern Corporation is a Virginia-based holding company engaged principally in the rail transportation business, operating approximately 19,500 route miles primarily in the East and Midwest. These consolidated financial statements include Norfolk Southern and its majority-owned and controlled subsidiaries (collectively, NS, we, us, and our). Norfolk Southern’s major subsidiary is NSR. All significant intercompany balances and transactions have been eliminated in consolidation. NSR and its railroad subsidiaries transport raw materials, intermediate products, and finished goods classified in the following commodity groups (percent of total railway operating revenues in 2019): intermodal (25%); chemicals (17%); coal (15%); agriculture products (14%); metals and construction (13%); automotive (9%); and, forest and consumer (7%). Although most of our customers are domestic, ultimate points of origination or destination for some of the products transported (particularly coal bound for export and some intermodal shipments) may be outside the U.S. Approximately 80% of our railroad employees are covered by collective bargaining agreements with various labor unions.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We periodically review our estimates, including those related to the recoverability and useful lives of assets, as well as liabilities for litigation, environmental remediation, casualty claims, income taxes and pension and other postretirement benefits. Changes in facts and circumstances may result in revised estimates.
Revenue Recognition	Revenue Recognition
Cash Equivalents	Cash Equivalents “Cash equivalents” are highly liquid investments purchased three months or less from maturity.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Our allowance for doubtful accounts was $9 million and $7 million at December 31, 2019 and 2018, respectively. To determine our allowance for doubtful accounts, we evaluate historical loss experience (which has not been significant), the characteristics of current accounts, and general economic conditions and trends.
Materials and Supplies	Materials and Supplies “Materials and supplies,” consisting mainly of items for maintenance of property and equipment, are stated at the lower of average cost or net realizable value. The cost of materials and supplies expected to be used in property additions or improvements is included in “Properties.”
Investments	Investments Investments in entities over which we have the ability to exercise significant influence but do not control the entity are accounted for using the equity method, whereby the investment is carried at the cost of the acquisition plus our equity in undistributed earnings or losses since acquisition.
Properties	Properties “Properties” are stated principally at cost and are depreciated using the group method whereby assets with similar characteristics, use, and expected lives are grouped together in asset classes and depreciated using a composite depreciation rate. This methodology treats each asset class as a pool of resources, not as singular items. We use approximately 75 depreciable asset classes. “Depreciation” in the Consolidated Statements of Cash Flows includes both depreciation and depletion on operating and nonoperating properties. Depreciation expense is based on our assumptions concerning expected service lives of our properties as well as the expected net salvage that will be received upon their retirement. In developing these assumptions, we utilize periodic depreciation studies that are performed by an independent outside firm of consulting engineers and approved by the STB. Our depreciation studies are conducted about every three years for equipment and every six years for track assets and other roadway property. The frequency of these studies is consistent with guidelines established by the STB. We adjust our rates based on the results of these studies and implement the changes prospectively. The studies may also indicate that the recorded amount of accumulated depreciation is deficient (or in excess) of the amount indicated by the study. Any such deficiency (or excess) is amortized as a component of depreciation expense over the remaining service lives of the affected class of property, as determined by the study. Key factors that are considered in developing average service life and salvage estimates include: • statistical analysis of historical retirement data and surviving asset records; • review of historical salvage received and current market rates; • review of our operations including expected changes in technology, customer demand, maintenance practices and asset management strategies; • review of accounting policies and assumptions; and • industry review and analysis. The composite depreciation rate for rail in high density corridors is derived based on consideration of annual gross tons as compared to the total or ultimate capacity of rail in these corridors. Our experience has shown that traffic density is a leading factor in the determination of the expected service life of rail in high density corridors. In developing the respective depreciation rate, consideration is also given to several rail characteristics including age, weight, condition (new or second-hand) and type (curved or straight). We capitalize interest on major projects during the period of their construction. Expenditures, including those on leased assets, that extend an asset’s useful life or increase its utility are capitalized. Expenditures capitalized include those that are directly related to a capital project and may include materials, labor, and other direct costs, in addition to an allocable portion of indirect costs that relate to a capital project. A significant portion of our annual capital spending relates to the replacement of self-constructed assets. Removal activities occur in conjunction with replacement and are estimated based on the average percentage of time employees replacing assets spend on removal functions. Costs related to repairs and maintenance activities that, in our judgment, do not extend an asset’s useful life or increase its utility are expensed when such repairs are performed. When depreciable operating road and equipment assets are sold or retired in the ordinary course of business, the cost of the assets, net of sale proceeds or salvage, is charged to accumulated depreciation, and no gain or loss is recognized in earnings. Actual historical cost values are retired when available, such as with most equipment assets. The use of estimates in recording the retirement of certain roadway assets is necessary based on the impracticality of tracking individual asset costs. When retiring rail, ties and ballast, we use statistical curves that indicate the relative distribution of the age of the assets retired. The historical cost of other roadway assets is estimated using a combination of inflation indices specific to the rail industry and those published by the U.S. Bureau of Labor Statistics. The indices are applied to the replacement value based on the age of the retired assets. These indices are used because they closely correlate with the costs of roadway assets. Gains and losses on disposal of operating land are included in “Materials and other” expenses. Gains and losses on disposal of nonoperating land and nonrail assets are included in “Other income – net” since such income is not a product of our railroad operations. A retirement is considered abnormal if it does not occur in the ordinary course of business, if it relates to disposition of a large segment of an asset class and if the retirement varies significantly from the retirement profile identified through our depreciation studies, which inherently consider the impact of normal retirements on expected service lives and depreciation rates. Gains or losses from abnormal retirements would be recognized in income from railway operations. We review the carrying amount of properties whenever events or changes in circumstances indicate that such carrying amount may not be recoverable based on future undiscounted cash flows. Assets that are deemed impaired as a result of such review are recorded at the lower of carrying amount or fair value.
New Accounting Pronouncements	New Accounting Pronouncements The FASB issued ASU 2014-09, “ Revenue from Contracts with Customers ,” and related amendments, which are jointly referred to as Accounting Standards Codification (ASC) Topic 606. This standard replaced most existing revenue recognition guidance in GAAP and requires entities to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. A performance obligation is defined as a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. We adopted the provisions of this standard on January 1, 2018, using the modified retrospective method. There was no cumulative effect of initially applying the standard, nor was there any material difference in revenue for the year ended December 31, 2018, as compared with GAAP that was in effect prior to January 1, 2018. See Note 2 for additional information. In March 2017, the FASB issued ASU 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost .” This update requires segregation of net benefit costs between operating and nonoperating expenses and requires retrospective application. We adopted the standard on January 1, 2018. Under the new standard, only the service cost component of defined benefit pension cost and postretirement benefit cost are reported within “Compensation and benefits” and all other components of net benefit cost are presented in “Other income – net” on the Consolidated Statements of Income, whereas under the previous standard all components were included in “Compensation and benefits.” The retrospective application resulted in an increase to “Compensation and benefits” expense and an offsetting increase to “Other income – net” on the Consolidated Statements of Income of $64 million for the year ended December 31, 2017, with no impact on “Net income.” In February 2018, the FASB issued ASU 2018-02, “ Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income .” This update is intended to reclassify the stranded tax effects resulting from tax reform from accumulated other comprehensive income (AOCI) to retained earnings. The amount of the reclassification is the difference between the amount initially charged or credited directly to other comprehensive income at the previously enacted U.S. federal corporate income tax rate that remains in AOCI and the amount that would have been charged or credited directly to other comprehensive income using the newly enacted U.S. federal corporate income tax rate. In the first quarter of 2018, we adopted the provisions of ASU 2018-02 resulting in an increase to “Accumulated other comprehensive loss” of $88 million and a corresponding increase to “Retained income,” with no impact on “Total stockholders’ equity.” In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) ,” and subsequent amendments, which replaced existing lease guidance in GAAP. We adopted the standard on January 1, 2019 using the modified retrospective method and used the effective date as our date of initial application. See Note 10 for additional information. In June 2016, the FASB issued ASU 2016-13, “ Credit Losses - Measurement of Credit Losses on Financial Instruments ,” which replaces the current incurred loss impairment method with a method that reflects expected credit losses. We adopted the standard on January 1, 2020. Because credit losses associated from our trade receivables have historically been insignificant, we do not expect this standard to have a material effect on our financial statements. In December 2019, the FASB issued ASU 2019-12, “ Simplifying the Accounting for Income Taxes ,” which adds new guidance to simplify the accounting for income taxes, changes the accounting for certain income tax transactions, and makes other minor changes. The new standard is effective as of January 1, 2021, and early adoption is permitted for any interim period for which financial statements have not been issued. We do not expect this standard to have a material effect on our financial statements. We will not adopt the standard early.

Railway Operating Revenues (Tab

Railway Operating Revenues (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenues by major commodity group: 2019 2018 ($ in millions) Merchandise: Chemicals $ 1,874 $ 1,858 Agriculture products 1,567 1,514 Metals and construction 1,522 1,539 Automotive 994 991 Forest and consumer 846 842 Merchandise 6,803 6,744 Intermodal 2,824 2,893 Coal 1,669 1,821 Total $ 11,296 $ 11,458
Schedule of Accounts Receivable	“Accounts receivable – net” on the Consolidated Balance Sheets includes both customer and non-customer receivables as follows: December 31, 2019 2018 ($ in millions) Customer $ 682 $ 740 Non-customer 238 269 Accounts receivable – net $ 920 $ 1,009

Other Income - Net (Tables)

Other Income - Net (Tables)	12 Months Ended
	Dec. 31, 2019
Other Income and Expenses [Abstract]
Other Income - Net	2019 2018 2017 ($ in millions) Corporate-owned life insurance – net $ 69 $ (10) $ 33 Net pension and other postretirement benefit cost (Note 12) 63 61 64 Rental income 4 5 87 Other (30) 11 (28) Total $ 106 $ 67 $ 156

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provisions for Income Taxes	2019 2018 2017 ($ in millions) Current: Federal $ 356 $ 499 $ 500 State 83 131 83 Total current taxes 439 630 583 Deferred: Federal 280 156 (2,924) State 50 17 65 Total deferred taxes 330 173 (2,859) Income taxes $ 769 $ 803 $ (2,276)
Reconciliation of Statutory Rate to Effective Rate	“Income taxes” on the Consolidated Statements of Income differs from the amounts computed by applying the statutory federal corporate tax rate as follows: 2019 2018 2017 Amount % Amount % Amount % ($ in millions) Federal income tax at statutory rate $ 733 21.0 $ 728 21.0 $ 1,095 35.0 State income taxes, net of federal tax effect 110 3.1 120 3.5 88 2.8 Equity in earnings related to tax reform — — — — (38) (1.2) Tax reform — — — — (3,331) (106.5) Excess tax benefits on stock-based compensation (29) (0.8) (22) (0.7) (39) (1.2) Other, net (45) (1.3) (23) (0.7) (51) (1.7) Income Taxes $ 769 22.0 $ 803 23.1 $ (2,276) (72.8)
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: December 31, 2019 2018 ($ in millions) Deferred tax assets: Compensation and benefits, including postretirement benefits $ 222 $ 284 Accruals, including casualty and other claims 89 69 Other 202 72 Total gross deferred tax assets 513 425 Less valuation allowance (54) (50) Net deferred tax assets 459 375 Deferred tax liabilities: Property (6,714) (6,422) Other (560) (413) Total deferred tax liabilities (7,274) (6,835) Deferred income taxes $ (6,815) $ (6,460)
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2019 2018 ($ in millions) Balance at beginning of year $ 21 $ 17 Additions based on tax positions related to the current year 4 5 Lapse of statutes of limitations (1) (1) Balance at end of year $ 24 $ 21

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Carrying Amounts and Estimated Fair Values	The carrying amounts and estimated fair values, based on Level 1 inputs, of long-term debt consisted of the following at December 31: 2019 2018 Carrying Fair Carrying Fair ($ in millions) Long-term debt, including current maturities $ (12,196) $ (14,806) $ (11,145) $ (12,203)

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Investments	December 31, 2019 2018 ($ in millions) Long-term investments: Equity method investments: Conrail Inc. $ 1,387 $ 1,337 TTX Company 749 692 Meridian Speedway LLC 271 271 Pan Am Southern LLC 154 155 Other 85 77 Total equity method investments 2,646 2,532 Corporate-owned life insurance at net cash surrender value 767 556 Other investments 15 21 Total long-term investments $ 3,428 $ 3,109

Properties (Tables)

Properties (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Properties	Accumulated Net Book Depreciation December 31, 2019 Cost Depreciation Value Rate (1) ($ in millions) Land $ 2,385 $ — $ 2,385 — Roadway: Rail and other track material 7,024 (1,905) 5,119 2.30 % Ties 5,536 (1,496) 4,040 3.37 % Ballast 2,868 (723) 2,145 2.72 % Construction in process 360 — 360 — Other roadway 14,261 (3,786) 10,475 2.71 % Total roadway 30,049 (7,910) 22,139 Equipment: Locomotives 5,973 (2,112) 3,861 3.66 % Freight cars 2,988 (1,148) 1,840 2.45 % Computers and software 732 (355) 377 9.68 % Construction in process 291 — 291 — Other equipment 1,082 (388) 694 4.89 % Total equipment 11,066 (4,003) 7,063 Other property 96 (69) 27 1.05 % Total properties $ 43,596 $ (11,982) $ 31,614 Accumulated Net Book Depreciation December 31, 2018 Cost Depreciation Value Rate (1) ($ in millions) Land $ 2,337 $ — $ 2,337 — Roadway: Rail and other track material 6,888 (1,951) 4,937 2.29 % Ties 5,346 (1,448) 3,898 3.36 % Ballast 2,759 (676) 2,083 2.70 % Construction in process 442 — 442 — Other roadway 14,072 (3,737) 10,335 2.64 % Total roadway 29,507 (7,812) 21,695 Equipment: Locomotives 5,870 (2,262) 3,608 3.77 % Freight cars 3,183 (1,288) 1,895 2.47 % Computers and software 623 (365) 258 10.65 % Construction in process 437 — 437 — Other equipment 1,071 (380) 691 4.94 % Total equipment 11,184 (4,295) 6,889 Other property 437 (267) 170 0.78 % Total properties $ 43,465 $ (12,374) $ 31,091

Current Liabilities (Tables)

Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Current Liabilities	December 31, 2019 2018 ($ in millions) Accounts payable: Accounts and wages payable $ 710 $ 828 Due to Conrail (Note 6) 264 202 Casualty and other claims (Note 17) 212 213 Vacation liability 136 140 Other 106 122 Total $ 1,428 $ 1,505 Other current liabilities: Interest payable $ 149 $ 139 Current operating lease liability (Note 10) 97 — Pension benefit obligations (Note 12) 18 18 Other 63 89 Total $ 327 $ 246

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt With Interest Rates and Maturities	Debt with weighted average interest rates and maturities is presented below: December 31, 2019 2018 ($ in millions) Notes and debentures: 4.22% maturing to 2024 $ 2,497 $ 3,082 4.35% maturing 2025 to 2031 3,265 2,665 4.38% maturing 2037 to 2052 5,904 5,104 5.79% maturing 2097 to 2118 1,331 1,131 Financing leases 8 2 Discounts, premiums, and debt issuance costs (809) (839) Total debt 12,196 11,145 Less current maturities (316) (585) Long-term debt excluding current maturities $ 11,880 $ 10,560 Long-term debt maturities subsequent to 2020 are as follows: 2021 $ 586 2022 603 2023 600 2024 400 2025 and subsequent years 9,691 Total $ 11,880

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Lease Related Assets and Liabilities	Operating lease amounts included on the Consolidated Balance Sheet were as follows: December 31, 2019 ($ in millions) Assets Classification ROU assets Other assets $ 539 Liabilities Current lease liabilities Other current liabilities $ 97 Non-current lease liabilities Other liabilities 441 Total lease liabilities $ 538
Lease, Cost	The components of total lease expense, primarily included in “Purchased services and rents,” were as follows: December 31, 2019 ($ in millions) Operating lease expense $ 114 Variable lease expense 57 Short-term lease expense 5 Total lease expense $ 176 Other information related to operating leases was as follows: December 31, 2019 Weighted-average remaining lease term (years) on operating leases 8.25 Weighted-average discount rates on operating leases 3.52 %
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments under non-cancellable operating leases were as follows: December 31, 2019 ($ in millions) 2020 $ 110 2021 104 2022 79 2023 70 2024 61 2025 and subsequent years 206 Total lease payments 630 Less: Interest 92 Present value of lease liabilities $ 538
Schedule of Future Minimum Rental Payments for Operating Leases	Undiscounted future minimum lease payments under non-cancellable operating leases accounted for under ASC 840 “ Leases ” were as follows: December 31, 2018 ($ in millions) 2019 $ 101 2020 95 2021 88 2022 75 2023 69 2024 and subsequent years 267 Total $ 695
Schedule of Rent Expense	Operating lease expense accounted for under ASC 840 “ Leases ” was as follows: 2018 2017 ($ in millions) Minimum rents $ 102 $ 96 Contingent rents 102 54 Total $ 204 $ 150

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Liabilities	December 31, 2019 2018 ($ in millions) Non-current operating lease liability (Note 10) $ 441 $ — Net pension benefit obligations (Note 12) 302 278 Net other postretirement benefit obligations (Note 12) 287 308 Long-term advances from Conrail (Note 6) 280 280 Casualty and other claims (Note 17) 171 158 Deferred compensation 104 106 Other 159 136 Total $ 1,744 $ 1,266

Pensions and Other Postretire_2

Pensions and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefit Obligations and Plan Assets	Pension and Other Postretirement Benefit Obligations and Plan Assets Pension Benefits Other Postretirement 2019 2018 2019 2018 ($ in millions) Change in benefit obligations: Benefit obligation at beginning of year $ 2,371 $ 2,541 $ 466 $ 510 Service cost 35 39 6 7 Interest cost 93 83 17 15 Actuarial losses (gains) 235 (149) 28 (24) Plan amendment — — (18) — Benefits paid (146) (143) (42) (42) Benefit obligation at end of year 2,588 2,371 457 466 Change in plan assets: Fair value of plan assets at beginning of year 2,105 2,373 158 201 Actual return on plan assets 485 (143) 34 (19) Employer contribution 18 18 20 18 Benefits paid (146) (143) (42) (42) Fair value of plan assets at end of year 2,462 2,105 170 158 Funded status at end of year $ (126) $ (266) $ (287) $ (308) Amounts recognized in the Consolidated Balance Sheets: Other assets $ 194 $ 30 $ — $ — Other current liabilities (18) (18) — — Other liabilities (302) (278) (287) (308) Net amount recognized $ (126) $ (266) $ (287) $ (308) Amounts included in accumulated other comprehensive loss (before tax): Net loss $ 781 $ 895 $ 29 $ 21 Prior service cost (benefit) 1 2 (253) (259)
Pension and Other Postretirement Benefit Cost Components	Pension and Other Postretirement Benefit Cost Components 2019 2018 2017 ($ in millions) Pension benefits: Service cost $ 35 $ 39 $ 38 Interest cost 93 83 80 Expected return on plan assets (179) (177) (172) Amortization of net losses 43 57 51 Amortization of prior service cost 1 — 1 Net cost (benefit) $ (7) $ 2 $ (2) Other postretirement benefits: Service cost $ 6 $ 7 $ 7 Interest cost 17 15 15 Expected return on plan assets (14) (15) (15) Amortization of prior service benefit (24) (24) (24) Net benefit $ (15) $ (17) $ (17)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income	Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income 2019 Pension Other ($ in millions) Net loss (gain) arising during the year $ (71) $ 8 Prior service effect of plan amendment — (18) Amortization of net losses (43) — Amortization of prior service (cost) benefit (1) 24 Total recognized in other comprehensive income $ (115) $ 14 Total recognized in net periodic cost and other comprehensive income $ (122) $ (1)
Pension and Other Postretirement Benefit Assumptions	A summary of the major assumptions follows: 2019 2018 2017 Pension funded status: Discount rate 3.38 % 4.33 % 3.74 % Future salary increases 4.21 % 4.21 % 4.21 % Other postretirement benefits funded status: Discount rate 3.13 % 4.18 % 3.57 % Pension cost: Discount rate - service cost 4.55 % 4.01 % 4.31 % Discount rate - interest cost 3.99 % 3.33 % 3.43 % Return on assets in plans 8.25 % 8.25 % 8.25 % Future salary increases 4.21 % 4.21 % 4.21 % Other postretirement benefits cost: Discount rate - service cost 4.39 % 3.83 % 4.17 % Discount rate - interest cost 3.83 % 3.13 % 3.14 % Return on assets in plans 8.00 % 8.00 % 8.00 % Health care trend rate 6.50 % 6.30 % 6.56 %
Health Care Cost Trend Assumptions	To illustrate, a one-percentage point change in the assumed health care cost trend would have the following effects: One-percentage point Increase Decrease ($ in millions) Increase (decrease) in: Total service and interest cost components $ 1 $ (1) Postretirement benefit obligation 8 (7)
Pension Plan Weighted-Average Asset Allocations, By Asset Category	Our pension plans’ weighted average asset allocations, by asset category, were as follows: Percentage of plan 2019 2018 Domestic equity securities 50 % 49 % International equity securities 24 % 23 % Debt securities 24 % 25 % Cash and cash equivalents 2 % 3 % Total 100 % 100 %
Fair Value of Plan Assets	The following table sets forth the pension plans’ assets by valuation technique level, within the fair value hierarchy. There were no level 3 valued assets at December 31, 2019 or 2018. December 31, 2019 Level 1 Level 2 Total ($ in millions) Common stock $ 1,329 $ — $ 1,329 Common collective trusts: International equity securities — 377 377 Debt securities — 303 303 Fixed income securities: Government and agencies securities — 172 172 Corporate bonds — 84 84 Mortgage and other asset-backed securities — 26 26 Commingled funds — 121 121 Cash and cash equivalents 50 — 50 Total investments $ 1,379 $ 1,083 $ 2,462 December 31, 2018 Level 1 Level 2 Total ($ in millions) Common stock $ 1,106 $ — $ 1,106 Common collective trusts: International equity securities — 314 314 Debt securities — 287 287 Fixed income securities: Government and agencies securities — 89 89 Corporate bonds — 83 83 Mortgage and other asset-backed securities — 62 62 Commingled funds — 92 92 Cash and cash equivalents 72 — 72 Total investments $ 1,178 $ 927 $ 2,105
Estimated Future Benefit Payments	Benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: Pension Other Postretirement Benefits ($ in millions) 2020 $ 144 $ 37 2021 144 36 2022 144 34 2023 144 33 2024 144 32 Years 2025 – 2029 719 148

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Options Granted Under LTIP and TSOP	The Committee granted stock options, RSUs and PSUs pursuant to the LTIP and granted stock options pursuant to the TSOP for the last three years as follows: 2019 2018 2017 Granted Weighted Average Grant-Date Fair Value Granted Weighted Average Grant-Date Fair Value Granted Weighted Average Grant-Date Fair Value Stock options: LTIP 47,360 $ 45.74 40,960 $ 41.70 341,120 $ 37.73 TSOP — — — — 144,440 31.33 Total 47,360 40,960 485,560 RSUs 219,710 164.47 217,290 148.37 83,330 120.16 PSUs 102,250 160.97 92,314 147.47 300,334 88.56
Schedule of Compensation Costs and Tax Benefits	Related compensation costs and tax benefits during the year were: 2019 2018 2017 ($ in millions) Stock-based compensation expense $ 53 $ 47 $ 45 Total tax benefit 37 33 54
Schedule of Assumptions Used for LTIP And TSOP Grants	The assumptions for the LTIP and TSOP grants for the last three years are shown in the following table: 2019 2018 2017 Average expected volatility 23 % 24 % 26 % Average risk-free interest rate 2.56 % 2.55 % 2.51 % Average expected option term LTIP 7.2 years 7.2 years 8.6 years Average expected option term TSOP — — 8.3 years
Schedule of Stock Option Activity	A summary of changes in stock options is presented below: Stock Weighted Avg. Exercise Price Outstanding at December 31, 2018 3,419,644 $ 86.66 Granted 47,360 168.36 Exercised (770,597) 74.39 Forfeited (18,958) 105.28 Outstanding at December 31, 2019 2,677,449 91.51
Summary of Stock Options Exercised	The following table provides information related to options exercised for the last three years: 2019 2018 2017 ($ in millions) Options exercised 770,597 840,175 1,789,939 Total intrinsic value $ 86 $ 72 $ 114 Cash received upon exercise 53 58 104 Related tax benefits realized 18 16 35
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	2019 2018 2017 ($ in millions) RSUs vested 166,197 160,200 137,200 Common Stock issued net of tax withholding 119,346 99,968 81,318 Related tax benefit realized $ 2 $ 3 $ 3 A summary of changes in RSUs is presented below: RSUs Weighted- Nonvested at December 31, 2018 637,035 $ 111.87 Granted 219,710 164.47 Vested (166,197) 111.79 Forfeited (24,376) 152.17 Nonvested at December 31, 2019 666,172 127.77
Schedule of Other Share Activity	2019 2018 2017 ($ in millions) PSUs earned 331,099 154,189 171,080 Common Stock issued net of tax withholding 221,241 94,399 99,805 Related tax benefit realized $ 9 $ 3 $ 1 A summary of changes in PSUs is presented below: PSUs Weighted- Balance at December 31, 2018 1,426,826 $ 66.35 Granted 102,250 160.97 Earned (331,099) 42.70 Unearned (735,048) 60.02 Forfeited (6,419) 126.92 Balance at December 31, 2019 456,510 114.04
Schedule of Stock Available for Future Grants	Shares of Common Stock available for future grants and issued in connection with all features of the LTIP and the TSOP at December 31, were as follows: 2019 2018 2017 Available for future grants: LTIP 9,294,726 8,644,108 8,774,768 TSOP 434,401 422,973 410,895 Issued: LTIP 852,869 820,746 1,679,547 TSOP 258,315 213,796 291,515

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	The components of “Other comprehensive income (loss)” reported in the Consolidated Statements of Comprehensive Income and changes in the cumulative balances of “Accumulated other comprehensive loss” reported in the Consolidated Balance Sheets consisted of the following: Balance Net Income Reclassification Reclassification Balance ($ in millions) Year ended December 31, 2019 Pensions and other postretirement liabilities $ (497) $ 61 $ — $ 15 $ (421) Other comprehensive loss of equity investees (66) (4) — — (70) Accumulated other comprehensive loss $ (563) $ 57 $ — $ 15 $ (491) Year ended December 31, 2018 Pensions and other postretirement liabilities $ (300) $ (136) $ (86) $ 25 $ (497) Other comprehensive loss of equity investees (56) (8) (2) — (66) Accumulated other comprehensive loss $ (356) $ (144) $ (88) $ 25 $ (563)
Other Comprehensive Income (Loss) of Equity Investees	“Other comprehensive income (loss)” reported in the Consolidated Statements of Comprehensive Income consisted of the following: Pretax Tax Net-of-Tax ($ in millions) Year ended December 31, 2019 Net gain arising during the year: Pensions and other postretirement benefits $ 81 $ (20) $ 61 Reclassification adjustments for costs included in net income 20 (5) 15 Subtotal 101 (25) 76 Other comprehensive loss of equity investees (4) — (4) Other comprehensive income $ 97 $ (25) $ 72 Year ended December 31, 2018 Net gain (loss) arising during the year: Pensions and other postretirement benefits $ (181) $ 45 $ (136) Reclassification adjustments for costs included in net income 33 (8) 25 Subtotal (148) 37 (111) Other comprehensive loss of equity investees (9) 1 (8) Other comprehensive loss $ (157) $ 38 $ (119) Year ended December 31, 2017 Net gain arising during the year: Pensions and other postretirement benefits $ 127 $ (32) $ 95 Reclassification adjustments for costs included in net income 28 (9) 19 Subtotal 155 (41) 114 Other comprehensive income of equity investees 19 (2) 17 Other comprehensive income $ 174 $ (43) $ 131

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Calculation	The following table sets forth the calculation of basic and diluted earnings per share: Basic Diluted 2019 2018 2017 2019 2018 2017 ($ in millions except per share amounts, shares in millions) Net income $ 2,722 $ 2,666 $ 5,404 $ 2,722 $ 2,666 $ 5,404 Dividend equivalent payments (5) (6) (4) — (1) (2) Income available to common stockholders $ 2,717 $ 2,660 $ 5,400 $ 2,722 $ 2,665 $ 5,402 Weighted-average shares outstanding 263.3 277.7 287.9 263.3 277.7 287.9 Dilutive effect of outstanding options and share-settled awards 2.3 2.5 2.4 Adjusted weighted-average shares outstanding 265.6 280.2 290.3 Earnings per share $ 10.32 $ 9.58 $ 18.76 $ 10.25 $ 9.51 $ 18.61

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	Three Months Ended March 31 June 30 September 30 December 31 ($ in millions, except per share amounts) 2019 Railway operating revenues $ 2,840 $ 2,925 $ 2,841 $ 2,690 Income from railway operations 966 1,065 996 962 Net income 677 722 657 666 Earnings per share: Basic 2.53 2.72 2.50 2.56 Diluted 2.51 2.70 2.49 2.55 2018 Railway operating revenues $ 2,717 $ 2,898 $ 2,947 $ 2,896 Income from railway operations 835 1,026 1,020 1,078 Net income 552 710 702 702 Earnings per share: Basic 1.94 2.52 2.54 2.59 Diluted 1.93 2.50 2.52 2.57

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)depreciable_asset_classmi	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Operating route miles | mi	19,500
Employees covered by collective bargaining agreements	80.00%
Allowance for doubtful accounts | $	$ 9	$ 7
Approximate number of depreciable asset classes used | depreciable_asset_class	75
Equipment
Property, Plant and Equipment [Line Items]
Depreciation studies, period	3 years
Roadway
Property, Plant and Equipment [Line Items]
Depreciation studies, period	6 years
Intermodal
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	25.00%
Chemicals
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	17.00%
Coal
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	15.00%
Agriculture products
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	14.00%
Metals/construction
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	13.00%
Automotive
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	9.00%
Forest and consumer
Property, Plant and Equipment [Line Items]
Market groups percent of total railway operating revenues	7.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Polices - New Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other income – net		$ 106	$ 67	$ 156
Compensation and benefits		$ 2,751	2,925	2,979
Reclassification of stranded tax effect			0
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other income – net				64
Compensation and benefits				$ 64
Accumulated Other Comprehensive Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effect			(88)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effect	$ (88)
Retained Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effect			$ 88
Retained Income | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of stranded tax effect	$ 88

Railway Operating Revenues (Det

Railway Operating Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,690	$ 2,841	$ 2,925	$ 2,840	$ 2,896	$ 2,947	$ 2,898	$ 2,717	$ 11,296	$ 11,458	$ 10,551
Averaging transit days (or less)									7 days
Revenue, payment terms									15 days
Merchandise
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									$ 6,803	6,744
Merchandise | Chemicals
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									1,874	1,858
Merchandise | Agriculture products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									1,567	1,514
Merchandise | Metals/construction
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									1,522	1,539
Merchandise | Automotive
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									994	991
Merchandise | Forest and consumer
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									846	842
Intermodal
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									2,824	2,893
Coal
Disaggregation of Revenue [Line Items]
Revenue from contract with customer									$ 1,669	$ 1,821

Railway Operating Revenues - Sc

Railway Operating Revenues - Schedule of Account Receivables (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable – net		$ 920	$ 1,009
Allowance for credit loss, writeoff	$ 32
Trade Accounts Receivable
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable – net		682	740
Accounts receivable, net, noncurrent		23	55
Other Receivables
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable – net		$ 238	$ 269
Accessorial Services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accessorial services percent of total railway operating revenues		5.00%	4.00%

Other Income - Net (Details)

Other Income - Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Corporate-owned life insurance – net	$ 69	$ (10)	$ 33
Net pension and other postretirement benefit cost (Note 12)	63	61	64
Rental income	4	5	87
Other	(30)	11	(28)
Total	$ 106	$ 67	$ 156

Income Taxes - Provisions For I

Income Taxes - Provisions For Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 356	$ 499	$ 500
State	83	131	83
Total current taxes	439	630	583
Deferred:
Federal	280	156	(2,924)
State	50	17	65
Total deferred taxes	330	173	(2,859)
Income taxes	$ 769	$ 803	$ (2,276)

Income Taxes - Reconciliation O

Income Taxes - Reconciliation Of Statutory Rate To Effective Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amount
Federal income tax at statutory rate	$ 733	$ 728	$ 1,095
State income taxes, net of federal tax effect	110	120	88
Equity in earnings related to tax reform	0	0	(38)
Tax reform	0	0	(3,331)
Excess tax benefits on stock-based compensation	(29)	(22)	(39)
Other, net	(45)	(23)	(51)
Income taxes	$ 769	$ 803	$ (2,276)
Percent
Federal income tax at statutory rate	21.00%	21.00%	35.00%
State income taxes, net of federal tax effect	3.10%	3.50%	2.80%
Equity in earnings related to tax reform	0.00%	0.00%	(1.20%)
Tax reform, percentage of net income	0	0	(1.065)
Excess tax benefits associated with stock-based compensation, net of federal tax effect	(0.80%)	(0.70%)	(1.20%)
Other, net	(1.30%)	(0.70%)	(1.70%)
Provision for income taxes	22.00%	23.10%	(72.80%)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax [Line Items]
Benefit in Purchased Services and Rents				$ 151
Tax Cuts and Jobs Act of 2017, deferred tax liability, income tax benefit				3,331
Change in valuation allowance		$ 4	$ 6	$ 5
Unrecognized tax benefits that would impact effective tax rate		19
Refund adjustment from taxing authority		$ 46
Scenario, Forecast
Income Tax [Line Items]
Tax settlement (benefit)	$ (18)

Income Taxes - Schedule Of Defe

Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Compensation and benefits, including postretirement benefits	$ 222	$ 284
Accruals, including casualty and other claims	89	69
Other	202	72
Total gross deferred tax assets	513	425
Less valuation allowance	(54)	(50)
Net deferred tax assets	459	375
Deferred tax liabilities:
Property	(6,714)	(6,422)
Other	(560)	(413)
Total deferred tax liabilities	(7,274)	(6,835)
Deferred income taxes	$ (6,815)	$ (6,460)

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 21	$ 17
Additions based on tax positions related to the current year	4	5
Lapse of statutes of limitations	(1)	(1)
Balance at end of year	$ 24	$ 21

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 12,196	$ 11,145
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 14,806	$ 12,203

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Equity Method Investments	$ 2,646	$ 2,532
Corporate-owned life insurance at net cash surrender value	767	556
Other investments	15	21
Total long-term investments	3,428	3,109
Conrail Inc.
Schedule of Investments [Line Items]
Equity Method Investments	1,387	1,337
TTX Company
Schedule of Investments [Line Items]
Equity Method Investments	749	692
Meridian Speedway LLC
Schedule of Investments [Line Items]
Equity Method Investments	271	271
Pan Am Southern LLC
Schedule of Investments [Line Items]
Equity Method Investments	154	155
Other
Schedule of Investments [Line Items]
Equity Method Investments	$ 85	$ 77

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Deferred tax liabilities	$ 6,815	$ 6,460
Tax Cuts and Jobs Act of 2017, deferred tax liability, income tax benefit			$ 3,331
Future minimum lease payments, 2024 and subsequent years		267
Shared Assets Areas CRC Lease
Schedule of Investments [Line Items]
Future annual minimum payments, due next five years	40
Future minimum lease payments, 2024 and subsequent years	$ 16
Conrail Equity
Schedule of Investments [Line Items]
Equity method investment, ownership percentage	58.00%
Conrail Voting
Schedule of Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Conrail Inc.
Schedule of Investments [Line Items]
Pension plan status change in investment, affiliate	$ (3)	(11)
Portion of pension plan change attributable to other comprehensive income (loss), affiliate	(3)	(10)
Deferred tax liabilities		1
Difference between investment in Conrail and share of Conrail's underlying net equity	497
Equity in earnings of investee	53	55	75
Tax Cuts and Jobs Act of 2017, deferred tax liability, income tax benefit			33
Expenses from transactions with related party	149	150	141
General and administrative support to Conrail	6
Due to Conrail, current	264	202
Due to Conrail, noncurrent	$ 280	$ 280
Due to Conrail, average interest rate	2.90%	2.90%
TTX Company
Schedule of Investments [Line Items]
Equity method investment, ownership percentage	19.65%
Equity in earnings of investee	$ 58	$ 61	158
Tax Cuts and Jobs Act of 2017, deferred tax liability, income tax benefit			115
Purchased Services and Rent | TTX Company
Schedule of Investments [Line Items]
Expenses from transactions with related party	$ 244	$ 262	$ 237

Properties (Details)

Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Cost	$ 43,596	$ 43,465
Accumulated Depreciation	(11,982)	(12,374)
Net Book Value	31,614	31,091
Land
Property, Plant and Equipment [Line Items]
Cost	2,385	2,337
Accumulated Depreciation	0	0
Net Book Value	$ 2,385	$ 2,337
Depreciation Rate	0.00%	0.00%
Rail and other track material
Property, Plant and Equipment [Line Items]
Cost	$ 7,024	$ 6,888
Accumulated Depreciation	(1,905)	(1,951)
Net Book Value	$ 5,119	$ 4,937
Depreciation Rate	2.30%	2.29%
Ties
Property, Plant and Equipment [Line Items]
Cost	$ 5,536	$ 5,346
Accumulated Depreciation	(1,496)	(1,448)
Net Book Value	$ 4,040	$ 3,898
Depreciation Rate	3.37%	3.36%
Ballast
Property, Plant and Equipment [Line Items]
Cost	$ 2,868	$ 2,759
Accumulated Depreciation	(723)	(676)
Net Book Value	$ 2,145	$ 2,083
Depreciation Rate	2.72%	2.70%
Construction in process
Property, Plant and Equipment [Line Items]
Cost	$ 360	$ 442
Accumulated Depreciation	0	0
Net Book Value	$ 360	$ 442
Depreciation Rate	0.00%	0.00%
Other roadway
Property, Plant and Equipment [Line Items]
Cost	$ 14,261	$ 14,072
Accumulated Depreciation	(3,786)	(3,737)
Net Book Value	$ 10,475	$ 10,335
Depreciation Rate	2.71%	2.64%
Total roadway
Property, Plant and Equipment [Line Items]
Cost	$ 30,049	$ 29,507
Accumulated Depreciation	(7,910)	(7,812)
Net Book Value	22,139	21,695
Locomotives
Property, Plant and Equipment [Line Items]
Cost	5,973	5,870
Accumulated Depreciation	(2,112)	(2,262)
Net Book Value	$ 3,861	$ 3,608
Depreciation Rate	3.66%	3.77%
Freight cars
Property, Plant and Equipment [Line Items]
Cost	$ 2,988	$ 3,183
Accumulated Depreciation	(1,148)	(1,288)
Net Book Value	$ 1,840	$ 1,895
Depreciation Rate	2.45%	2.47%
Computers and software
Property, Plant and Equipment [Line Items]
Cost	$ 732	$ 623
Accumulated Depreciation	(355)	(365)
Net Book Value	$ 377	$ 258
Depreciation Rate	9.68%	10.65%
Construction in process
Property, Plant and Equipment [Line Items]
Cost	$ 291	$ 437
Accumulated Depreciation	0	0
Net Book Value	$ 291	$ 437
Depreciation Rate	0.00%	0.00%
Other equipment
Property, Plant and Equipment [Line Items]
Cost	$ 1,082	$ 1,071
Accumulated Depreciation	(388)	(380)
Net Book Value	$ 694	$ 691
Depreciation Rate	4.89%	4.94%
Total equipment
Property, Plant and Equipment [Line Items]
Cost	$ 11,066	$ 11,184
Accumulated Depreciation	(4,003)	(4,295)
Net Book Value	7,063	6,889
Other property
Property, Plant and Equipment [Line Items]
Cost	96	437
Accumulated Depreciation	(69)	(267)
Net Book Value	$ 27	$ 170
Depreciation Rate	1.05%	0.78%

Properties - Narrative (Details

Properties - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Costs of obtaining rights to natural resources	$ 88	$ 336
Accumulated depreciation associated with costs of obtaining rights to natural resources		200
Impairment assets to be disposed of	49
Interest costs incurred on debt	620	574	$ 570
Interest costs capitalized	$ 16	$ 17	$ 20

Current Liabilities (Details)

Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Accounts and wages payable	$ 710	$ 828
Casualty and other claims (Note 17)	212	213
Vacation liability	136	140
Other	106	122
Total	1,428	1,505
Interest payable	149	139
Current operating lease liability (Note 10)	97
Other	63	89
Total	327	246
Pension Plan
Pension benefit obligations (Note 12)	18	18
Conrail Inc.
Due to Conrail (Note 6)	$ 264	$ 202

Debt - Debt With Interest Rates

Debt - Debt With Interest Rates And Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Financing leases	$ 8
Capital Lease Obligations		$ 2
Discounts, premiums, and debt issuance costs	(809)	(839)
Total debt	12,196	11,145
Less current maturities	(316)	(585)
Long-term debt	11,880	10,560
4.22% maturing to 2024
Debt Instrument [Line Items]
Notes and debentures	$ 2,497	3,082
Long-term debt, weighted average interest rate	4.22%
4.35% maturing 2025 to 2031
Debt Instrument [Line Items]
Notes and debentures	$ 3,265	2,665
Long-term debt, weighted average interest rate	4.35%
4.38% maturing 2037 to 2052
Debt Instrument [Line Items]
Notes and debentures	$ 5,904	5,104
Long-term debt, weighted average interest rate	4.38%
5.79% maturing 2097 to 2118
Debt Instrument [Line Items]
Notes and debentures	$ 1,331	$ 1,131
Long-term debt, weighted average interest rate	5.79%

Debt - Debt Maturities (Details

Debt - Debt Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2021	$ 586
2022	603
2023	600
2024	400
2025 and subsequent years	9,691
Long-term debt	$ 11,880	$ 10,560

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Nov. 30, 2019	May 31, 2019	Apr. 30, 2019	Jan. 01, 2019
Debt Instrument [Line Items]
Restricted cash						$ 88,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument face amount	$ 750,000,000
Credit agreement term, years	5 years
Long-term line of credit	$ 0	$ 0
3.80% Senior Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount				$ 200,000,000
Debt instrument, interest rate				3.80%
4.10% Senior Notes Due 2049 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount				$ 400,000,000
Debt instrument, interest rate				4.10%
5.10% Senior Notes Due 2118 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount				$ 200,000,000
Debt instrument, interest rate				5.10%
2.55% Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount			$ 400,000,000
Debt instrument, interest rate			2.55%
3.40% Senior Notes Due 2049 | Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount			$ 400,000,000
Debt instrument, interest rate			3.40%
Securitization Borrowings
Debt Instrument [Line Items]
Credit agreement				$ 450,000,000	$ 400,000,000
Proceeds from Short-term Debt	600,000,000	50,000,000
Repayments of Short-term Debt	600,000,000	150,000,000
Accounts receivable securitization balance	0	0
Available borrowing capacity	$ 429,000,000	$ 400,000,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
ROU assets		$ 539
Operating leases, liability		$ 538
Renewal term		99 years
Termination period		30 days
Estimated construction cost, noncancellable lease	$ 550
Residual value guarantee, percentage	90.00%
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 49
Operating cash flows from operating leases		114
Proceeds from sale of leaseback transactions		82
Sale and leaseback transaction, gain (loss)		$ 15
Equipment | Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term		1 year
Equipment | Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term		9 years
Line of Road and Property Lease | Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term		1 year
Line of Road and Property Lease | Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term		138 years
Building
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term of contract		5 years
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
ROU assets			$ 586
Operating leases, liability			$ 586

Leases - Operating Lease Includ

Leases - Operating Lease Included in Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets
ROU assets	$ 539
Liabilities
Current lease liabilities	97
Non-current lease liabilities	441	$ 0
Total lease liabilities	$ 538

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 114
Variable lease expense	57
Short-term lease expense	5
Total lease expense	$ 176

Leases - Additional Information

Leases - Additional Information (Details)	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term (years) on operating leases	8 years 3 months
Weighted-average discount rates on operating leases	3.52%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 110
2021	104
2022	79
2023	70
2024	61
2025 and subsequent years	206
Total lease payments	630
Less: Interest	92
Present value of lease liabilities	$ 538

Leases - Prior Year Future Mini

Leases - Prior Year Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 101
2020	95
2021	88
2022	75
2023	69
2024 and subsequent years	267
Total	$ 695

Leases - Operating Lease Expens

Leases - Operating Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Minimum rents	$ 102	$ 96
Contingent rents	102	54
Total	$ 204	$ 150

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Non-current lease liabilities	$ 441	$ 0
Casualty and other claims (Note 17)	171	158
Deferred compensation	104	106
Other	159	136
Total	1,744	1,266
Conrail Inc.
Schedule of Investments [Line Items]
Long-term advances from Conrail (Note 6)	280	280
Other Postretirement Benefits Plan
Schedule of Investments [Line Items]
Defined benefit pension plan, liabilities, noncurrent	287	308
Pension Plan
Schedule of Investments [Line Items]
Defined benefit pension plan, liabilities, noncurrent	$ 302	$ 278

Pensions and Other Postretire_3

Pensions and Other Postretirement Benefits - Benefit Obligations and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plan
Change in benefit obligations:
Benefit obligation at beginning of year	$ 2,371	$ 2,541
Service cost	35	39	$ 38
Interest cost	93	83	80
Actuarial losses (gains)	235	(149)
Plan amendment	0	0
Benefits paid	(146)	(143)
Benefit obligation at end of year	2,588	2,371	2,541
Change in plan assets:
Fair value of plan assets at beginning of year	2,105	2,373
Actual return on plan assets	485	(143)
Employer contribution	18	18
Benefits paid	(146)	(143)
Fair value of plan assets at end of year	2,462	2,105	2,373
Funded status at end of year	(126)	(266)
Other assets	194	30
Other current liabilities	(18)	(18)
Other liabilities	(302)	(278)
Net amount recognized	(126)	(266)
Net loss	781	895
Prior service cost (benefit)	1	2
OPEB
Change in benefit obligations:
Benefit obligation at beginning of year	466	510
Service cost	6	7	7
Interest cost	17	15	15
Actuarial losses (gains)	28	(24)
Plan amendment	(18)	0
Benefits paid	(42)	(42)
Benefit obligation at end of year	457	466	510
Change in plan assets:
Fair value of plan assets at beginning of year	158	201
Actual return on plan assets	34	(19)
Employer contribution	20	18
Benefits paid	(42)	(42)
Fair value of plan assets at end of year	170	158	$ 201
Funded status at end of year	(287)	(308)
Other assets	0	0
Other current liabilities	0	0
Other liabilities	(287)	(308)
Net amount recognized	(287)	(308)
Net loss	29	21
Prior service cost (benefit)	$ (253)	$ (259)

Pensions and Other Postretire_4

Pensions and Other Postretirement Benefits - Benefit Cost Components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 35	$ 39	$ 38
Interest cost	93	83	80
Expected return on plan assets	(179)	(177)	(172)
Amortization of net losses	43	57	51
Amortization of prior service cost	1	0	1
Net cost	(7)	2	(2)
OPEB
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	7	7
Interest cost	17	15	15
Expected return on plan assets	(14)	(15)	(15)
Amortization of prior service cost	(24)	(24)	(24)
Net cost	$ (15)	$ (17)	$ (17)

Pensions and Other Postretire_5

Pensions and Other Postretirement Benefits - Other Changes Recognized in Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Total recognized in other comprehensive income	$ (101)	$ 148	$ (155)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain) arising during the year	(71)
Prior service effect of plan amendment	0
Amortization of net losses	(43)
Amortization of prior service (cost) benefit	(1)
Total recognized in other comprehensive income	(115)
Total recognized in net periodic cost and other comprehensive income	(122)
OPEB
Defined Benefit Plan Disclosure [Line Items]
Net loss (gain) arising during the year	8
Prior service effect of plan amendment	(18)
Amortization of net losses	0
Amortization of prior service (cost) benefit	24
Total recognized in other comprehensive income	14
Total recognized in net periodic cost and other comprehensive income	$ (1)

Pensions and Other Postretire_6

Pensions and Other Postretirement Benefits - Benefit Assumptions (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Return on assets in plans	8.25%
Funded Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.38%	4.33%	3.74%
Future salary increases	4.21%	4.21%	4.21%
Funded Plan | OPEB
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.13%	4.18%	3.57%
Unfunded Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Future salary increases	4.21%	4.21%	4.21%
Discount rate for service cost	4.55%	4.01%	4.31%
Discount rate for interest cost	3.99%	3.33%	3.43%
Return on assets in plans	8.25%	8.25%	8.25%
Unfunded Plan | OPEB
Defined Benefit Plan Disclosure [Line Items]
Discount rate for service cost	4.39%	3.83%	4.17%
Discount rate for interest cost	3.83%	3.13%	3.14%
Return on assets in plans	8.00%	8.00%	8.00%
Health care trend rate	6.50%	6.30%	6.56%

Pensions and Other Postretire_7

Pensions and Other Postretirement Benefits - Health Care Cost Trend Assumptions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Retirement Benefits [Abstract]
One-percentage point increase change in total service and interest cost components	$ 1
One-percentage point decrease change total service and interest cost components	(1)
One-percentage point increase change in postretirement benefit obligations	8
One-percentage point decrease change in postretirement benefit obligations	$ (7)

Pensions and Other Postretire_8

Pensions and Other Postretirement Benefits - Pension Plan Weighted-Average Asset Allocations, By Asset Category (Details) - Pension Plan	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Information about Plan Assets [Abstract]
Actual plan asset allocations	100.00%	100.00%
Domestic equity securities
Defined Benefit Plan, Information about Plan Assets [Abstract]
Actual plan asset allocations	50.00%	49.00%
International equity securities
Defined Benefit Plan, Information about Plan Assets [Abstract]
Actual plan asset allocations	24.00%	23.00%
Debt securities
Defined Benefit Plan, Information about Plan Assets [Abstract]
Actual plan asset allocations	24.00%	25.00%
Cash and cash equivalents
Defined Benefit Plan, Information about Plan Assets [Abstract]
Actual plan asset allocations	2.00%	3.00%

Pensions and Other Postretire_9

Pensions and Other Postretirement Benefits - Fair Value of Plan Assets (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,462	$ 2,105
Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,379	1,178
Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,083	927
Common Stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,329	1,106
Common Stock | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,329	1,106
Common Stock | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	377	314
International equity securities | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity securities | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	377	314
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	303	287
Debt securities | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt securities | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	303	287
U.S. government and agencies securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	172	89
U.S. government and agencies securities | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.S. government and agencies securities | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	172	89
Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	84	83
Corporate Bonds | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate Bonds | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	84	83
Mortgage and Other Asset-backed Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26	62
Mortgage and Other Asset-backed Securities | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Mortgage and Other Asset-backed Securities | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26	62
Commingled Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	121	92
Commingled Funds | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Commingled Funds | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	121	92
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	50	72
Cash and cash equivalents | Fair Value Inputs Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	50	72
Cash and cash equivalents | Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Pensions and Other Postretir_10

Pensions and Other Postretirement Benefits - Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2019USD ($)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2020	$ 144
2021	144
2022	144
2023	144
2024	144
Years 2025 – 2029	719
OPEB
Defined Benefit Plan Disclosure [Line Items]
2020	37
2021	36
2022	34
2023	33
2024	32
Years 2025 – 2029	$ 148

Pensions and Other Postretir_11

Pensions and Other Postretirement Benefits - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)investment_firm	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan's accumulated benefit obligation	$ 2,300	$ 2,200
Unfunded pension plans projected benefit obligation	320	296
Unfunded pension plans accumulated benefit obligations	$ 292	263
Number of investment firms | investment_firm	11
Multiemployer plan, contributions by employer	$ 31	35	$ 44
Defined contribution plan, cost	22	23	$ 23
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated net loss for defined pension plans amortized from AOCI into net periodic cost	$ 52
Assumed increases in per capita cost of covered health care benefits	6.25%
Ultimate health care cost trend rate	5.00%
Pension plan assets target allocation for equity	75.00%
Assumed rate of return on pension plan assets	8.25%
Expected contribution for the next fiscal year	$ 18
OPEB
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, future amortization of prior service cost (credit)	25
Expected contribution for the next fiscal year	37
Fair Value Inputs Level 2
Defined Benefit Plan Disclosure [Line Items]
Trust-owned life insurance fair value	$ 170	$ 158
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted average asset allocation, by asset category	33.00%	36.00%
Defined Benefit Plan, Equity Securities | OPEB
Defined Benefit Plan Disclosure [Line Items]
Weighted average asset allocation, by asset category	67.00%	64.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets target allocation for equity	50.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets target allocation for equity	75.00%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for future grants (in shares)	9,294,726
Amended LTIP plan-award granted as an option or stock appreciation right (in shares)	1
Amended LTIP plan - award granted in a form other than option or stock appreciation right (in shares)	1.61
Aggregate intrinsic value of options outstanding	$ 275
Weighted average remaining contractual term of options outstanding	5 years
Number of shares exercisable (in shares)	1,856,019
Aggregate intrinsic value of options exercisable	$ 196
Exercisable weighted average exercise price (in dollars per share)	$ 88.48
Weighted average remaining contractual term of options exercisable	2 years 10 months 24 days
Unrecognized compensation related to stock options granted	$ 6
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for grant (in shares)	104,125,000
Available for future grants (in shares)	9,294,726	8,644,108	8,774,768
Vesting period (in years)	4 years	4 years	4 years
LTIP dividend equivalent payment, in years	4 years
Dividend yield for period dividend equivalents paid	0.00%
TSOP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for grant (in shares)	6,000,000
Available for future grants (in shares)	434,401	422,973	410,895
Vesting period (in years)	3 years	3 years	3 years
LTIP And TSOP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield for period dividend equivalents paid	2.06%	1.94%	2.04%
Unrecognized compensation related to stock options granted	$ 2
Unrecognized compensation, weighted average period of recognition	1 year 7 months 6 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation related to stock options granted	$ 25
Unrecognized compensation, weighted average period of recognition	2 years 7 months 6 days
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation, weighted average period of recognition	1 year 8 months 12 days
PSU Cycle	3 years
Grant Date, 2019 | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Grant Date, 2018 | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Grant Date, 2017 | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)	10 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Options Granted Under LTIP and TSOP (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	47,360	40,960	485,560
Granted (in dollars per share)	$ 168.36
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	47,360	40,960	341,120
Granted (in dollars per share)	$ 45.74	$ 41.70	$ 37.73
TSOP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	0	0	144,440
Granted (in dollars per share)	$ 0	$ 0	$ 31.33
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	219,710	217,290	83,330
Granted (in dollars per share)	$ 164.47	$ 148.37	$ 120.16
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	102,250	92,314	300,334
Granted (in dollars per share)	$ 160.97	$ 147.47	$ 88.56

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Costs and Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 53	$ 47	$ 45
Total tax benefit	$ 37	$ 33	$ 54

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Assumptions Used for LTIP and TSOP Grants (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average expected volatility rate	23.00%	24.00%	26.00%
Average risk-free interest rate	2.56%	2.55%	2.51%
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average expected option term, in years	7 years 2 months 12 days	7 years 2 months 12 days	8 years 7 months 6 days
TSOP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average expected option term, in years	0 years	0 years	8 years 3 months 18 days

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Options
Outstanding at period start (in shares)	3,419,644
Granted (in shares)	47,360	40,960	485,560
Exercised (in shares)	(770,597)	(840,175)	(1,789,939)
Forfeited (in shares)	(18,958)
Outstanding at period end (in shares)	2,677,449	3,419,644
Weighted Avg.  Exercise Price
Stock options outstanding at period start (in dollars per share)	$ 86.66
Granted (in dollars per share)	168.36
Exercised (in dollars per share)	74.39
Forfeited (in dollars per share)	105.28
Stock options outstanding at period end (in dollars per share)	$ 91.51	$ 86.66

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Options Exercised (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Options exercised (in shares)	770,597	840,175	1,789,939
Total intrinsic value	$ 86	$ 72	$ 114
Cash received upon exercise	53	58	104
Related tax benefits realized	$ 18	$ 16	$ 35

Stock-Based Compensation - Sc_5

Stock-Based Compensation - Schedule of Options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Related tax benefit realized	$ 37	$ 33	$ 54
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	166,197	160,200	137,200
Common Stock issued net of tax withholdings (in shares)	119,346	99,968	81,318
Related tax benefit realized	$ 2	$ 3	$ 3
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	331,099	154,189	171,080
Common Stock issued net of tax withholdings (in shares)	221,241	94,399	99,805
Related tax benefit realized	$ 9	$ 3	$ 1

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Awards Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock Units (RSUs)
Nonvested RSUs/PSUs
Balance at period start (in shares)	637,035
Granted (in shares)	219,710
Shares vested (in shares)	(166,197)	(160,200)	(137,200)
Forfeited (in shares)	(24,376)
Balance at period end (in shares)	666,172	637,035
Weighted- Average Grant-Date Fair Value
Balance at period start (in dollars per share)	$ 111.87
Granted (in dollars per share)	164.47
Vested (in dollars per share)	111.79
Forfeited (in dollars per share)	152.17
Balance at period end (in dollars per share)	$ 127.77	$ 111.87
Performance Share Units (PSUs)
Nonvested RSUs/PSUs
Balance at period start (in shares)	1,426,826
Granted (in shares)	102,250
Shares vested (in shares)	(331,099)	(154,189)	(171,080)
Unearned (in shares)	(735,048)
Forfeited (in shares)	(6,419)
Balance at period end (in shares)	456,510	1,426,826
Weighted- Average Grant-Date Fair Value
Balance at period start (in dollars per share)	$ 66.35
Granted (in dollars per share)	160.97
Shares earned - paid in Common Stock (in dollars per share)	42.70
Shares unearned (in dollars per share)	60.02
Forfeited (in dollars per share)	126.92
Balance at period end (in dollars per share)	$ 114.04	$ 66.35

Stock-Based Compensation - Sc_6

Stock-Based Compensation - Schedule of Stock Available for Future Grants (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for future grants (in shares)	9,294,726
LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for future grants (in shares)	9,294,726	8,644,108	8,774,768
Common stock, shares, issued (in shares)	852,869	820,746	1,679,547
TSOP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for future grants (in shares)	434,401	422,973	410,895
Common stock, shares, issued (in shares)	258,315	213,796	291,515

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2019
Equity [Abstract]
Treasury stock, number of shares held		20,320,777	20,320,777
Treasury stock, value		$ 19	$ 19
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of stranded tax effect		0
Retained Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of stranded tax effect		88
Retained Income | Accounting Standards Update 2018-02
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of stranded tax effect	$ 88
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of stranded tax effect		$ (88)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2018-02
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification of stranded tax effect	$ (88)

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at Beginning of Year	$ 15,362	$ 16,359	$ 12,409
Net Income (Loss)	57	(144)
Reclassification of Stranded Tax Effects		0
Reclassification Adjustments	15	25
Balance at End of Year	15,184	15,362	16,359
Pensions and Other Postretirement Liabilities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at Beginning of Year	(497)	(300)
Net Income (Loss)	61	(136)
Reclassification of Stranded Tax Effects		(86)
Reclassification Adjustments	15	25
Balance at End of Year	(421)	(497)	(300)
Accumulated Other Comprehensive Loss Equity Investees
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at Beginning of Year	(66)	(56)
Net Income (Loss)	(4)	(8)
Reclassification of Stranded Tax Effects		(2)
Reclassification Adjustments	0	0
Balance at End of Year	(70)	(66)	(56)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at Beginning of Year	(563)	(356)	(487)
Reclassification of Stranded Tax Effects		(88)
Balance at End of Year	$ (491)	$ (563)	$ (356)

Stockholders' Equity - Other Co

Stockholders' Equity - Other Comprehensive Income (Loss) Of Equity Investees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pretax Amount
Pensions and other postretirement benefits	$ 57	$ (144)
Other comprehensive income (loss)	97	(157)	$ 174
Tax (Expense) Benefit
Other comprehensive income (loss)	(25)	38	(43)
Net-of-Tax Amount
Reclassification Adjustments	15	25
Other comprehensive income (loss)	72	(119)	131
Pensions And Other Postretirement Liabilities
Pretax Amount
Pensions and other postretirement benefits	81	(181)	127
Reclassification adjustments for costs	20	33	28
Other comprehensive income (loss)	101	(148)	155
Tax (Expense) Benefit
Pensions and other postretirement benefits	(20)	45	(32)
Reclassification adjustments for costs	(5)	(8)	(9)
Other comprehensive income (loss)	(25)	37	(41)
Net-of-Tax Amount
Pensions and other postretirement benefits	61	(136)	95
Reclassification Adjustments	15	25	19
Other comprehensive income (loss)	76	(111)	114
Accumulated Other Comprehensive Loss Equity Investees
Pretax Amount
Pensions and other postretirement benefits	(4)	(8)
Other comprehensive income (loss)	(4)	(9)	19
Tax (Expense) Benefit
Other comprehensive income (loss)	0	1	(2)
Net-of-Tax Amount
Reclassification Adjustments	0	0
Other comprehensive income (loss)	$ (4)	$ (8)	$ 17

Stock Repurchase Programs - Nar

Stock Repurchase Programs - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 26, 2017
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period (in shares)	11,300,000	17,100,000	8,200,000
Stock repurchased and retired during period, cost	$ 2,099	$ 2,781	$ 1,012
New stock repurchase program (in shares)				50,000,000
Remaining number of shares authorized to be repurchased (in shares)	28,000,000
Stock repurchased and retired since beginning of stock repurchase program in 2006 (in shares)	196,900,000
Stock repurchased and retired since beginning of stock repurchase program in 2006, cost	$ 16,200
Accelerated Stock Repurchase Program ASR
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period (in shares)		7,000,000
Ongoing Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period (in shares)		10,100,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 666	$ 657	$ 722	$ 677	$ 702	$ 702	$ 710	$ 552	$ 2,722	$ 2,666	$ 5,404
Dividend equivalent payments, Basic									(5)	(6)	(4)
Dividend equivalent payments, Diluted									0	(1)	(2)
Income available to common stockholder's, Basic									2,717	2,660	5,400
Income available to common stockholder's, Diluted									$ 2,722	$ 2,665	$ 5,402
Weighted-average shares outstanding, basic (in shares)									263.3	277.7	287.9
Dilutive effect of outstanding options and share-settled awards (in shares)									2.3	2.5	2.4
Adjusted weighted-average shares outstanding, diluted (in shares)									265.6	280.2	290.3
Basic (in dollars per share)	$ 2.56	$ 2.50	$ 2.72	$ 2.53	$ 2.59	$ 2.54	$ 2.52	$ 1.94	$ 10.32	$ 9.58	$ 18.76
Diluted (in dollars per share)	$ 2.55	$ 2.49	$ 2.70	$ 2.51	$ 2.57	$ 2.52	$ 2.50	$ 1.93	$ 10.25	$ 9.51	$ 18.61

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities Excluded from Computation of EPS (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	0.2

Commitments and Contingencies (

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2019USD ($)location	Dec. 31, 2018USD ($)location
Commitments and Contingencies Disclosure [Abstract]
Environmental liability	$ 56,000,000	$ 55,000,000
Current environmental liability	$ 15,000,000	$ 15,000,000
Known cleanup and remediation locations and projects | location	110	114
Number of sites - representative sample | location	16
Liability associated with those sites	$ 40,000,000
Environmental locations representative sample liability payout period, in years	5 years
Responsible locations with another party | location	11
Self-insured injury/damage to third party - up to	$ 75,000,000
Self-insured injury/damage to third parties - and above, per occurrence	1,100,000,000
Self-insured for bodily injury and property damage to third parties above, for specific perils	1,500,000,000
Self-insured NS owned property - up to	25,000,000
Self-insured NS owned property - and above, per occurrence	200,000,000
Purchase commitments	$ 1,200,000,000

Quarterly Financial Data (Detai

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Railway operating revenues	$ 2,690	$ 2,841	$ 2,925	$ 2,840	$ 2,896	$ 2,947	$ 2,898	$ 2,717	$ 11,296	$ 11,458	$ 10,551
Income from railway operations	962	996	1,065	966	1,078	1,020	1,026	835	3,989	3,959	3,522
Net income	$ 666	$ 657	$ 722	$ 677	$ 702	$ 702	$ 710	$ 552	$ 2,722	$ 2,666	$ 5,404
Earnings per share:
Basic (in dollars per share)	$ 2.56	$ 2.50	$ 2.72	$ 2.53	$ 2.59	$ 2.54	$ 2.52	$ 1.94	$ 10.32	$ 9.58	$ 18.76
Diluted (in dollars per share)	$ 2.55	$ 2.49	$ 2.70	$ 2.51	$ 2.57	$ 2.52	$ 2.50	$ 1.93	$ 10.25	$ 9.51	$ 18.61

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Portion of Casualty and Other Claims Included in Accounts Payable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance		$ 213	$ 187	$ 192
Expenses		22	32	17
Other Accounts	[1]	131	145	124
Deductions	[2]	154	151	146
Ending Balance		212	213	187
Casualty and Other Claims Included in Other Liabilities
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning Balance		158	179	178
Expenses	[3]	89	85	83
Other Accounts		0	0	0
Deductions	[4]	76	106	82
Ending Balance		$ 171	$ 158	$ 179
[1]	Includes revenue refunds and overcharges provided through deductions from operating revenues and transfers  from other accounts.
[2]	Payments and reclassifications to/from other liabilities.
[3]	Includes adjustments for changes in estimates for prior years’ claims.
[4]	Payments and reclassifications to/from accounts payable.