Name: Norfolk Southern Corp. (NYSE:NSC) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Norfolk Southern Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	839)	1,115)	580)	358)	690)
Accounts receivable, net	976)	848)	920)	1,009)	955)
Materials and supplies	218)	221)	244)	207)	222)
Other current assets	134)	134)	337)	288)	282)
Current assets	2,167)	2,318)	2,081)	1,862)	2,149)
Equity method investments	2,797)	2,662)	2,646)	2,532)	2,425)
COLI at net cash surrender value	885)	902)	767)	556)	530)
Other investments	25)	26)	15)	21)	26)
Long-term investments	3,707)	3,590)	3,428)	3,109)	2,981)
Properties less accumulated depreciation	31,653)	31,345)	31,614)	31,091)	30,330)
Other assets	966)	709)	800)	177)	251)
Non-current assets	36,326)	35,644)	35,842)	34,377)	33,562)
Total assets	38,493)	37,962)	37,923)	36,239)	35,711)

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).

Total assets exhibited a consistent upward trajectory over the five-year period, increasing from 35,711 million US dollars in 2017 to 38,493 million US dollars by the end of 2021. This growth was primarily driven by the expansion of non-current assets, which rose from 33,562 million US dollars to 36,326 million US dollars during the same timeframe.

Fixed Asset Management: Properties less accumulated depreciation constitute the most significant portion of the asset base. This category remained relatively stable but showed a general increase, moving from 30,330 million US dollars in 2017 to 31,653 million US dollars in 2021. A minor contraction was noted in 2020 before the value recovered in 2021, indicating sustained capital investment in core infrastructure.
Long-term Investment Strategy: A steady expansion in long-term financial holdings is evident. Long-term investments grew from 2,981 million US dollars in 2017 to 3,707 million US dollars in 2021. This growth is further supported by a consistent increase in equity method investments, which rose from 2,425 million US dollars to 2,797 million US dollars, and a notable increase in Corporate Owned Life Insurance (COLI) at net cash surrender value, which climbed from 530 million US dollars to 885 million US dollars.
Liquidity and Current Asset Trends: Current assets remained comparatively flat, ending 2021 at 2,167 million US dollars, close to the 2,149 million US dollars reported in 2017. However, volatility was observed within specific components. Cash and cash equivalents fluctuated significantly, reaching a peak of 1,115 million US dollars in 2020 before declining to 839 million US dollars in 2021. Accounts receivable, net, showed stability, fluctuating within a narrow range between 848 million and 1,009 million US dollars over the period.
Other Asset Variations: Other assets exhibited the most volatility relative to their size, increasing from 251 million US dollars in 2017 to a peak of 966 million US dollars in 2021. This suggests intermittent adjustments or reclassifications of miscellaneous non-current holdings.

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