Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Norfolk Southern Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Land	2,453)	2,394)	2,385)	2,337)	2,342)
Rail and other track material	7,330)	7,153)	7,024)	6,888)	6,730)
Ties	5,779)	5,685)	5,536)	5,346)	5,181)
Ballast	3,041)	2,973)	2,868)	2,759)	2,654)
Construction in process	339)	297)	360)	442)	447)
Other roadway	14,111)	14,320)	14,261)	14,072)	13,636)
Roadway	30,600)	30,428)	30,049)	29,507)	28,648)
Locomotives	5,695)	5,478)	5,973)	5,870)	5,658)
Freight cars	2,701)	2,780)	2,988)	3,183)	3,256)
Computers and software	893)	732)	732)	623)	610)
Construction in process	164)	333)	291)	437)	247)
Other equipment	1,088)	1,094)	1,082)	1,071)	1,004)
Equipment	10,541)	10,417)	11,066)	11,184)	10,775)
Other property	90)	91)	96)	437)	474)
Properties, cost	43,684)	43,330)	43,596)	43,465)	42,239)
Accumulated depreciation	(12,031)	(11,985)	(11,982)	(12,374)	(11,909)
Properties, net book value	31,653)	31,345)	31,614)	31,091)	30,330)

Based on: 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), 10-K (reporting date: 2017-12-31).

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Item	Description	The company
Properties, cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Norfolk Southern Corp. properties, cost decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Properties, net book value	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Norfolk Southern Corp. properties, net book value decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Norfolk Southern Corp., asset age ratios

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Average age ratio	29.18%	29.28%	29.07%	30.09%	29.85%
Estimated total useful life (years)	35	35	36	37	38
Estimated age, time elapsed since purchase (years)	10	10	11	11	11
Estimated remaining life (years)	25	25	26	26	26

Based on: 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), 10-K (reporting date: 2017-12-31).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Norfolk Southern Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Norfolk Southern Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Norfolk Southern Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life		Norfolk Southern Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in millions)
Accumulated depreciation	12,031)	11,985)	11,982)	12,374)	11,909)
Properties, cost	43,684)	43,330)	43,596)	43,465)	42,239)
Land	2,453)	2,394)	2,385)	2,337)	2,342)
Asset Age Ratio
Average age¹	29.18%	29.28%	29.07%	30.09%	29.85%

Based on: 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), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Properties, cost – Land)
= 100 × 12,031 ÷ (43,684 – 2,453) = 29.18%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Norfolk Southern Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in millions)
Properties, cost	43,684)	43,330)	43,596)	43,465)	42,239)
Land	2,453)	2,394)	2,385)	2,337)	2,342)
Depreciation	1,181)	1,154)	1,139)	1,104)	1,059)
Asset Age Ratio (Years)
Estimated total useful life¹	35	35	36	37	38

Based on: 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), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Estimated total useful life = (Properties, cost – Land) ÷ Depreciation
= (43,684 – 2,453) ÷ 1,181 = 35

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Norfolk Southern Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in millions)
Accumulated depreciation	12,031)	11,985)	11,982)	12,374)	11,909)
Depreciation	1,181)	1,154)	1,139)	1,104)	1,059)
Asset Age Ratio (Years)
Time elapsed since purchase¹	10	10	11	11	11

Based on: 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), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation
= 12,031 ÷ 1,181 = 10

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Norfolk Southern Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Selected Financial Data (US$ in millions)
Properties, net book value	31,653)	31,345)	31,614)	31,091)	30,330)
Land	2,453)	2,394)	2,385)	2,337)	2,342)
Depreciation	1,181)	1,154)	1,139)	1,104)	1,059)
Asset Age Ratio (Years)
Estimated remaining life¹	25	25	26	26	26

Based on: 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), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Estimated remaining life = (Properties, net book value – Land) ÷ Depreciation
= (31,653 – 2,453) ÷ 1,181 = 25

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Asset age ratio	Description	The company
Estimated remaining life		Norfolk Southern Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

Norfolk Southern Corp. (NYSE:NSC)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life