CSX Corp. (NASDAQ:CSX)

Rail and Other Track Material

The value showed a general increasing trend from $7,964 million in 2018 to $8,761 million in 2021, followed by a slight decline to $8,660 million in 2022.

Ties

Ties steadily increased each year, rising from $5,860 million in 2018 to $6,763 million in 2022, indicating ongoing investment or capitalizing in this asset class.

Grading

This item remained relatively stable, fluctuating slightly around the $2,750 million mark, with a marginal decrease from 2019 onward to $2,741 million by 2022.

Ballast

Ballast values consistently increased over the period, from $3,076 million in 2018 to $3,383 million in 2022, showing moderate growth.

Bridges, Trestles, and Culverts

This category exhibited a clear upward trend, increasing from $2,506 million in 2018 to $2,989 million in 2022, reflecting ongoing enhancements or acquisitions.

Signals and Interlockers

The value of signals and interlockers rose steadily each year, from $2,975 million in 2018 to $3,299 million in 2022, signifying continuous investment in signaling technology.

Buildings

Building assets showed gradual growth from $1,318 million in 2018 to $1,416 million in 2022, indicating stable expansion or maintenance.

Other

The 'Other' category increased modestly from $4,955 million in 2018 to $5,541 million in 2022, suggesting diversification or ongoing additions of miscellaneous assets.

Road

This was one of the largest categories with a steady increase from $31,411 million in 2018 to $34,792 million in 2022, reflecting substantial capital expenditure in road property and related infrastructure.

Locomotive

Locomotive assets declined consistently from $5,661 million in 2018 to $4,848 million in 2022, indicating asset disposals, retirements, or reduced capitalization in this area.

Freight Cars

Freight car values showed a significant decreasing trend from $3,093 million in 2018 to $2,316 million in 2022, highlighting a possible reduction in fleet size or depreciation exceeding additions.

Work Equipment and Other

This category increased steadily from $2,338 million in 2018 to $3,132 million in 2022, reflecting increased investment or asset acquisitions over the period.

Equipment

The equipment category decreased from $11,092 million in 2018 to $10,125 million in 2021, before a slight increase to $10,296 million in 2022, suggesting some asset sales or write-downs followed by renewal.

Land

Land values remained relatively stable through 2018-2021 with a slight decline but then increased notably in 2022 from $1,885 million to $2,272 million, indicating significant land acquisition or revaluation in the last year.

Construction in Progress

This account fluctuated, decreasing from $457 million in 2018 to $371 million in 2020, then rising sharply to $745 million in 2022, reflecting potentially increased capital projects under development in recent years.

Properties, Cost

The total cost of properties gradually increased from $44,805 million in 2018 to $48,105 million in 2022, showing steady asset investment and capital additions overall.

Accumulated Depreciation

Accumulated depreciation steadily increased in magnitude (more negative) from -$12,807 million in 2018 to -$13,863 million in 2022, consistent with ongoing use and aging of the property, plant, and equipment base.

Properties, Net Book Value

The net book value of properties incrementally increased over the period, from $31,998 million in 2018 to $34,242 million in 2022, indicating net asset growth after accounting for depreciation.

Average Age Ratio

The average age ratio remained relatively stable over the five-year period, increasing marginally from 29.81% in 2018 to 30.25% in 2022. This indicates that the proportion of the asset's lifespan consumed has grown slightly, suggesting a consistent approach to asset usage without significant acceleration or deceleration in aging.

Estimated Total Useful Life

The estimated total useful life of the assets remained constant at 32 years from 2018 through 2020. In 2021 and 2022, this estimate decreased slightly to 31 years, indicating a modest revision likely reflecting updated assessments of asset longevity or changes in usage expectations.

Estimated Age, Time Elapsed Since Purchase

The estimated age fluctuated between 9 and 10 years, showing a slight inconsistency in the measure or asset replacement timing. Specifically, it was 10 years in 2018, 2019, and 2021, but dropped to 9 years in 2020 and 2022, suggesting some assets may have been replaced or acquired in those years, thereby lowering the average age.

Estimated Remaining Life

The estimated remaining life of the assets decreased gradually from 23 years in 2018 to 21 years in 2022. This trend is consistent with the observed slight reduction in total useful life and reflects the natural consumption of asset life over time. The decrease indicates a modest shortening of expected future utility, accompanied by ongoing asset aging.

Accumulated Depreciation

The accumulated depreciation exhibits a steady upward trend from 12,807 million USD in 2018 to 13,863 million USD in 2022. This increase reflects ongoing depreciation charges over time, consistent with the aging of the asset base.

Properties, Cost

The gross property cost has shown a gradual increase over the five-year period, rising from 44,805 million USD in 2018 to 48,105 million USD in 2022. This indicates continued investment or acquisition of property, plant, and equipment assets.

Land

The value of land remained relatively stable around 1,836 to 1,885 million USD from 2018 through 2021, followed by a notable increase to 2,272 million USD in 2022. This spike may signify recent land acquisitions or revaluations.

Average Age Ratio

The average age ratio of assets has slightly increased from 29.81% in 2018 to 30.25% in 2022. The gradual rise suggests a modest aging of the asset base, consistent with the increasing accumulated depreciation and relatively stable capital additions.

The analysis of the property, plant, and equipment data reveals a consistent upward trend in the cost of properties over the five-year period. From 2018 to 2022, the total cost increased steadily from $44,805 million to $48,105 million, indicating ongoing investments in property assets.

Examining the land component, values remained relatively stable from 2018 through 2021, fluctuating slightly around the 1800s million-dollar range. However, there is a notable increase in 2022, with the value rising to $2,272 million. This suggests significant acquisition or revaluation activities related to land assets in the most recent year.

Depreciation expense showed a gradual increase year over year, moving from $1,331 million in 2018 to $1,500 million in 2022. This pattern implies ongoing asset usage and aging, as well as possible additions to depreciable assets contributing to higher expenses.

The estimated total useful life of the assets remained constant at 32 years from 2018 to 2020 but decreased slightly to 31 years beginning in 2021 and continuing into 2022. This decline could reflect adjustments to asset longevity assumptions, potentially influenced by asset wear, regulatory change, or accounting policy updates.

Properties, cost

Consistent increase over five years, reflecting steady investments in the asset base.

Land

Stable values through 2021, followed by a substantial increase in 2022 indicating acquisition or revaluation.

Depreciation expense

Gradual annual increase corresponding with asset aging and additions to property assets.

Estimated total useful life

Maintained at 32 years initially, decreasing to 31 years from 2021, suggesting revised asset lifespan assumptions.

Over the five-year period ending December 31, 2022, the accumulated depreciation of property, plant, and equipment consistently increased each year, rising from $12,807 million in 2018 to $13,863 million in 2022. This steady growth indicates continued usage and aging of fixed assets, as the accumulated depreciation gradually reflects the consumption of the company's long-term assets.

The depreciation expense, which represents the annual allocation of asset cost to expense, also showed an increasing trend over the same period. It rose from $1,331 million in 2018 to $1,500 million in 2022. This upward movement suggests either an increase in asset additions subject to depreciation or changes in the depreciation policies or useful lives of assets. The consistent growth in depreciation expense is aligned with the cumulative increase in accumulated depreciation.

The average time elapsed since purchase of the assets exhibits minor fluctuations but remains around 9 to 10 years throughout the analyzed years. This stable range suggests that the composition of property, plant, and equipment is not undergoing significant shifts in terms of asset vintage. The slight decreases to 9 years in some years may indicate periodic asset renewals or retirements balanced by new acquisitions.

In summary, the trends in the data reflect a stable yet continuously aging asset base, with steadily increasing depreciation expenses that correspond to the ongoing consumption of property, plant, and equipment. The relatively consistent time elapsed since purchase supports the view that the asset portfolio maintains a consistent age profile over the analyzed timeframe.

Net Book Value of Properties

The net book value of properties displayed a consistent upward trend from 2018 to 2022, increasing from $31,998 million to $34,242 million. This steady growth indicates ongoing investment or capital additions exceeding depreciation.

Land

Land values remained relatively stable between 2018 and 2021, fluctuating slightly around $1,800 million. However, in 2022, there was a significant increase to $2,272 million, suggesting notable acquisitions or revaluations of land assets during that year.

Depreciation Expense

Depreciation expense increased gradually over the five-year period, rising from $1,331 million in 2018 to $1,500 million in 2022. This steady increment aligns with the growing asset base and likely reflects the aging and usage of property, plant, and equipment.

Estimated Remaining Life

The estimated remaining life of the assets exhibited a slight declining trend, decreasing from 23 years in 2018 to 21 years in 2022. This gradual reduction may indicate ongoing asset aging and the approaching need for reinvestment or replacement.