Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Norfolk Southern Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts and wages payable	850)	552)	710)	828)	822)
Casualty and other claims	166)	182)	212)	213)	187)
Vacation liability	119)	121)	136)	140)	133)
Due to Conrail	112)	56)	264)	202)	146)
Other	104)	105)	106)	122)	113)
Accounts payable	1,351)	1,016)	1,428)	1,505)	1,401)
Short-term debt	—)	—)	—)	—)	100)
Income and other taxes	305)	263)	229)	255)	211)
Interest payable	150)	141)	149)	139)	115)
Current operating lease liability	82)	89)	97)	—)	—)
Pension benefit obligations	20)	19)	18)	18)	17)
Other	60)	53)	63)	89)	101)
Other current liabilities	312)	302)	327)	246)	233)
Current maturities of long-term debt	553)	579)	316)	585)	600)
Current liabilities	2,521)	2,160)	2,300)	2,591)	2,545)
Long-term debt, excluding current maturities	13,287)	12,102)	11,880)	10,560)	9,136)
Long-term advances from Conrail	534)	534)	280)	280)	280)
Net pension benefit obligations	338)	340)	302)	278)	296)
Non-current operating lease liability	331)	344)	441)	—)	—)
Net other postretirement benefit obligations	244)	306)	287)	308)	309)
Casualty and other claims	170)	169)	171)	158)	179)
Deferred compensation	109)	107)	104)	106)	113)
Other	153)	187)	159)	136)	170)
Other liabilities	1,879)	1,987)	1,744)	1,266)	1,347)
Deferred income taxes	7,165)	6,922)	6,815)	6,460)	6,324)
Non-current liabilities	22,331)	21,011)	20,439)	18,286)	16,807)
Total liabilities	24,852)	23,171)	22,739)	20,877)	19,352)
Common Stock $1.00 per share par value, net of treasury shares	242)	254)	259)	269)	285)
Additional paid-in capital	2,215)	2,248)	2,209)	2,216)	2,254)
Accumulated other comprehensive loss	(402)	(594)	(491)	(563)	(356)
Retained income	11,586)	12,883)	13,207)	13,440)	14,176)
Stockholders’ equity	13,641)	14,791)	15,184)	15,362)	16,359)
Total liabilities and stockholders’ equity	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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Norfolk Southern Corp. current liabilities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Non-current liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Norfolk Southern Corp. non-current liabilities increased from 2019 to 2020 and from 2020 to 2021.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Norfolk Southern Corp. total liabilities increased from 2019 to 2020 and from 2020 to 2021.
Stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Norfolk Southern Corp. stockholders’ equity decreased from 2019 to 2020 and from 2020 to 2021.

Norfolk Southern Corp. (NYSE:NSC)

Balance Sheet: Liabilities and Stockholders’ Equity