Statement of Financial Position, Assets
Quarterly Data

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's 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 Statement of Financial Position, Assets (quarterly data)

USD $ in millions

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Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015 Dec 26, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 27, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Cash and cash equivalents 1,320  1,980  401  591  620  930  603  603  566  731  628  541  438  561  669  479  573  475  592  591  614  705 
Short-term investments 83  10  18  113  477  287  417  152  262  375  810  425  680  257  292  575  216  248  487  128  403  367 
Accounts receivable, net 1,036  1,045  970  981  1,015  943  938  925  912  917  982  1,003  1,022  1,103  1,129  1,123  1,062  1,073  1,052  981  946  976 
Materials and supplies 326  369  372  392  428  415  407  397  399  370  350  309  295  291  273  276  275  259  252  267  264  283 
Deferred income taxes 132  126  137  132  146  141  128  123  143  155  148  144  133 
Other current assets 116  138  154  95  90  85  122  86  89  83  70  87  102  99  68  95  123  91  64  85  118  103 
Current assets 2,881  3,542  1,915  2,172  2,630  2,660  2,487  2,163  2,228  2,608  2,966  2,502  2,669  2,457  2,572  2,676  2,372  2,289  2,602  2,200  2,489  2,567 
Properties 44,306  44,103  44,324  44,105  43,751  43,399  43,227  42,720  42,345  41,865  41,574  40,843  40,313  39,824  39,343  38,533  38,010  37,604  37,184  36,637  36,149  35,674 
Accumulated depreciation (12,459) (12,355) (12,560) (12,526) (12,324) (12,140) (12,077) (11,938) (11,738) (11,572) (11,400) (11,206) (11,063) (10,952) (10,759) (10,539) (10,325) (10,110) (9,893) (9,691) (9,550) (9,386)
Properties, net 31,847  31,748  31,764  31,579  31,427  31,259  31,150  30,782  30,607  30,293  30,174  29,637  29,250  28,872  28,584  27,994  27,685  27,494  27,291  26,946  26,599  26,288 
Investment in Conrail 931  918  907  864  856  847  840  830  818  811  803  793  787  778  779  775  768  756  752  715  709  703 
Affiliates and other companies 810  796  779  642  631  622  619  603  595  591  591  583  579  575  577  570  563  558  546  526  519  512 
Other long-term assets 455  435  374  316  317  324  318  303  302  307  505  500  492  479  541  608  587  583  591  556  565  516 
Long-term assets 34,043  33,897  33,824  33,401  33,231  33,052  32,927  32,518  32,322  32,002  32,073  31,513  31,108  30,704  30,481  29,947  29,603  29,391  29,180  28,743  28,392  28,019 
Total assets 36,924  37,439  35,739  35,573  35,861  35,712  35,414  34,681  34,550  34,610  35,039  34,015  33,777  33,161  33,053  32,623  31,975  31,680  31,782  30,943  30,881  30,586 
Source: CSX Corp., Quarterly and Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. CSX Corp.'s cash and cash equivalents increased from Q4 2017 to Q1 2018 but then slightly declined from Q1 2018 to Q2 2018.
Short-term investments Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed. CSX Corp.'s short-term investments declined from Q4 2017 to Q1 2018 but then increased from Q1 2018 to Q2 2018 exceeding Q4 2017 level.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. CSX Corp.'s accounts receivable, net increased from Q4 2017 to Q1 2018 but then slightly declined from Q1 2018 to Q2 2018.
Materials and supplies Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). CSX Corp.'s materials and supplies declined from Q4 2017 to Q1 2018 and from Q1 2018 to Q2 2018.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. CSX Corp.'s current assets increased from Q4 2017 to Q1 2018 but then slightly declined from Q1 2018 to Q2 2018.
Properties, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. CSX Corp.'s properties, net declined from Q4 2017 to Q1 2018 but then increased from Q1 2018 to Q2 2018 exceeding Q4 2017 level.
Long-term assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. CSX Corp.'s long-term assets increased from Q4 2017 to Q1 2018 and from Q1 2018 to Q2 2018.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. CSX Corp.'s total assets increased from Q4 2017 to Q1 2018 but then slightly declined from Q1 2018 to Q2 2018.