Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
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CSX Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Revenue Trend
- Revenue demonstrated gradual growth from early 2018 through late 2019, peaking near the end of 2019. Starting in 2020, a significant dip was observed, likely influenced by external market conditions, although it recovered steadily thereafter, achieving new highs by early 2022 before showing a slight decline into early 2023.
- Labor and Fringe Costs
- Labor and fringe expenses showed moderate fluctuations, generally maintaining a stable range with some increases during 2021 and early 2022, followed by minor decreases towards Q1 2023. This suggests cost management efforts amid varying operational demands.
- Purchased Services and Other Expenses
- There was a noticeable decline in purchased services and other costs beginning in 2020, with some variability thereafter, including a peak in late 2021 and elevated levels maintained into 2022 and early 2023. This pattern may indicate responsive adjustments to outsourcing and related expenditures.
- Depreciation and Amortization
- Depreciation and amortization expenses remained relatively stable with a slight upward trend, reflecting steady asset base investment or capital expenditure patterns throughout the period.
- Fuel Expenses
- Fuel costs decreased substantially in 2020, with a gradual increase resuming thereafter. Notably, the costs peaked notably in late 2021 and through 2022 before declining again in early 2023, aligning with volatile fuel price environments and operational adjustments.
- Equipment and Other Rents
- Expenses related to equipment and rents exhibited minor fluctuations but overall remained consistent, with slight increases in 2021 and 2022, possibly reflecting leasing commitments or expanded operational capacity.
- Gains on Property Dispositions
- Gains on property dispositions were generally low and sporadic until a significant spike occurred in mid-2021, suggesting a one-time or non-recurring sale or asset optimization event. Values returned to previous ranges thereafter with some elevated gains during 2022.
- Total Expenses
- Total expenses followed a trend similar to operating costs, generally stable with a noticeable dip in mid-2021 followed by an increase into 2022. This indicates periods of effective cost control and subsequent expansion of expenditures aligned with revenue patterns.
- Operating Income
- Operating income remained strong through 2018 and 2019, experienced a substantial drop in 2020, and then rebounded significantly in 2021 and 2022, peaking above prior levels. This rebound reflects improved operational efficiency and recovery in revenue after the downturn.
- Interest Expense
- Interest expense showed a gradual increase over the analyzed period, suggesting increased borrowing or changes in debt structure, though with relatively minor fluctuations quarter to quarter.
- Other Income, Net
- Other income remained stable with small positive values, except for a brief negative dip late in 2020, likely reflecting a temporary impairment, adjustment, or unusual item. Positive contributions resumed and grew moderately thereafter.
- Earnings Before Income Taxes
- The trend in earnings before income taxes closely followed operating income movements, with declines during early 2020 followed by a resurgence culminating in higher earnings during 2021 and 2022, signaling robust operational recovery and financial management.
- Income Tax Expense
- Income tax expenses varied in proportion to pre-tax earnings, showing significant increases during peak earnings periods in 2021 and 2022. The expenses remained relatively in line with earnings fluctuations, indicating consistent effective tax rates over time.
- Net Earnings
- Net earnings displayed a trajectory mirroring overall income trends, including a decline in 2020 followed by strong recovery through 2021 and 2022. Although some decline appeared in early 2023, net earnings remained at elevated levels compared to the earlier years, reflecting resiliency and improved profitability.