Stock Analysis on Net
Stock Analysis on Net

Norfolk Southern Corp. (NYSE:NSC)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 27, 2022.

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.

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

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Accounts and wages payable
Casualty and other claims
Vacation liability
Due to Conrail
Other
Accounts payable
Short-term debt
Income and other taxes
Interest payable
Current operating lease liability
Pension benefit obligations
Other
Other current liabilities
Current maturities of long-term debt
Current liabilities
Long-term debt, excluding current maturities
Long-term advances from Conrail
Net pension benefit obligations
Non-current operating lease liability
Net other postretirement benefit obligations
Casualty and other claims
Deferred compensation
Other
Other liabilities
Deferred income taxes
Non-current liabilities
Total liabilities
Common Stock $1.00 per share par value, net of treasury shares
Additional paid-in capital
Accumulated other comprehensive loss
Retained income
Stockholders’ equity
Total liabilities and stockholders’ equity

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).

Current Liabilities
The total current liabilities exhibited a decreasing trend from 2017 to 2020, declining from US$2,545 million to US$2,160 million, followed by a partial rebound to US$2,521 million in 2021. Notably, accounts and wages payable decreased markedly in 2020 to US$552 million but recovered to US$850 million by 2021. Accounts payable followed a similar pattern, dropping substantially in 2020 before rising again in 2021. Some components such as short-term debt appeared only in 2017 and were absent in subsequent years, indicating possible repayment or reclassification.
Long-Term Liabilities
Long-term debt, excluding current maturities, increased steadily over the period, rising from US$9,136 million in 2017 to US$13,287 million in 2021, indicating growing leverage or financing needs. Long-term advances from Conrail remained constant until 2019 then almost doubled in 2020 and remained stable in 2021. Net pension benefit obligations increased from 2017 to 2020 but slightly decreased in 2021. Non-current operating lease liabilities, introduced in 2019, decreased over subsequent years, likely reflecting changes due to lease accounting standards or lease terminations.
Other Non-Current Liabilities
Other liabilities showed an overall upward trend, increasing from US$1,347 million in 2017 to US$1,879 million in 2021, with a notable jump between 2018 and 2019. Deferred income taxes also increased consistently each year, from US$6,324 million in 2017 to US$7,165 million in 2021, indicating growing deferred tax obligations. The net other postretirement benefit obligations fluctuated but decreased by 2021 compared to 2017, suggesting some liabilities were managed or settled.
Total Liabilities
Total liabilities increased steadily from US$19,352 million in 2017 to US$24,852 million in 2021, reflecting the combined effects of increased long-term debt and other liabilities.
Stockholders’ Equity
Stockholders' equity declined steadily over the period, falling from US$16,359 million in 2017 to US$13,641 million in 2021. This decline was driven principally by decreases in retained income, which dropped from US$14,176 million to US$11,586 million. Common stock and additional paid-in capital decreased modestly, while accumulated other comprehensive loss showed fluctuations but remained negative throughout the period, slightly improving by 2021.
Total Liabilities and Equity
The sum of liabilities and stockholders’ equity showed a modest increase from US$35,711 million in 2017 to US$38,493 million in 2021, suggesting overall growth in the company’s balance sheet size.
Additional Observations
Income and other taxes payable have shown a general increasing trend, rising from US$211 million in 2017 to US$305 million in 2021. Interest payable exhibited moderate increases, reflecting possibly higher debt levels. Vacation liability and casualty and other claims showed minor declines or fluctuations without clear trends, indicating relatively stable short-term obligations in these categories.