Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

CSX Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	1,958)	2,239)	3,129)	958)	858)
Short-term investments	129)	77)	2)	996)	253)
Accounts receivable, net	1,313)	1,148)	912)	986)	1,010)
Materials and supplies	341)	339)	302)	261)	263)
Other current assets	108)	70)	96)	77)	181)
Current assets	3,849)	3,873)	4,441)	3,278)	2,565)
Properties, net	34,242)	33,015)	32,444)	32,168)	31,998)
Investment in affiliates and other companies	2,292)	2,099)	1,985)	1,879)	1,779)
Right of use operating lease asset	505)	501)	472)	532)	—)
Goodwill and other intangible assets, net	502)	451)	63)	63)	—)
Other long-term assets	522)	592)	388)	337)	387)
Long-term assets	38,063)	36,658)	35,352)	34,979)	34,164)
Total assets	41,912)	40,531)	39,793)	38,257)	36,729)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Total assets exhibited a consistent upward trajectory over the five-year period, increasing from $36.7 billion in 2018 to $41.9 billion by the end of 2022. This growth was primarily driven by the steady expansion of long-term assets, which comprise the vast majority of the asset base, reflecting a highly capital-intensive operational model.

Current Asset Liquidity and Volatility: Cash and cash equivalents experienced a significant surge in 2020, peaking at $3.1 billion before gradually declining to $1.9 billion by 2022. This volatility is mirrored in short-term investments, which dropped precipitously from $996 million in 2019 to $2 million in 2020, suggesting a strategic shift in liquidity management or a reallocation of funds during that period. Meanwhile, accounts receivable, net showed a steady upward trend, rising from $1.0 billion in 2018 to $1.3 billion in 2022, indicating an increase in credit extended to customers or changes in collection cycles.
Fixed Asset Expansion: Properties, net represents the most substantial component of the balance sheet, growing incrementally each year from $31.9 billion in 2018 to $34.2 billion in 2022. This consistent growth underscores continuous investment in core physical infrastructure. Additionally, investments in affiliates and other companies grew steadily from $1.7 billion to $2.2 billion over the same period, pointing toward a consistent strategy of strategic external investments.
Intangible and Lease Assets: A notable shift occurred in goodwill and other intangible assets, which remained stable at $63 million through 2020 before jumping to $451 million in 2021 and $502 million in 2022, likely reflecting acquisition activity or the recognition of new intangible assets. Right of use operating lease assets appeared in 2019 and remained relatively stable, fluctuating between $472 million and $532 million through 2022.

The overall asset structure indicates a stable growth pattern in long-term infrastructure and strategic investments, contrasted by fluctuating short-term liquidity positions. The increase in total assets from $36.7 billion to $41.9 billion suggests a period of sustained expansion and capital deployment.

CSX Corp. (NASDAQ:CSX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items