Stock Analysis on Net
Stock Analysis on Net
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Norfolk Southern Corp. (NYSE:NSC)

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Norfolk Southern Corp., consolidated cash flow statement

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net income 2,013  2,722  2,666  5,404  1,668 
Depreciation 1,154  1,139  1,104  1,059  1,030 
Deferred income taxes 142  330  173  (2,859) 227 
Gains and losses on properties (39) (42) (171) (92) (46)
Loss on asset disposal 385  —  —  —  — 
Impairment of investment 99  —  —  —  — 
Accounts receivable 71  87  (70) (41) 23 
Materials and supplies 23  (37) 15  35  42 
Other current assets (4) (46) (71) 82 
Current liabilities other than debt 34  (185) 223  135  158 
Changes in assets and liabilities affecting operations 131  (139) 122  58  305 
Other, net (248) (118) (168) (317) (150)
Reconciliation of net income to net cash provided by operating activities 1,624  1,170  1,060  (2,151) 1,366 
Net cash provided by operating activities 3,637  3,892  3,726  3,253  3,034 
Property additions (1,494) (2,019) (1,951) (1,723) (1,887)
Property sales and other transactions 333  377  204  202  130 
Investment purchases (13) (18) (10) (7) (123)
Investment sales and other transactions (1) (104) 99  47  48 
Net cash used in investing activities (1,175) (1,764) (1,658) (1,481) (1,832)
Dividends (960) (949) (844) (703) (695)
Common Stock transactions 69  27  40  89  57 
Purchase and retirement of Common Stock (1,439) (2,099) (2,781) (1,012) (803)
Proceeds from borrowings, net of issuance costs 784  2,192  2,023  290  694 
Debt repayments (381) (1,188) (750) (702) (600)
Other —  23  —  —  — 
Net cash used in financing activities (1,927) (1,994) (2,312) (2,038) (1,347)
Net increase (decrease) in cash, cash equivalents, and restricted cash 535  134  (244) (266) (145)
Cash, cash equivalents, and restricted cash, at beginning of year 580  446  690  956  1,101 
Cash, cash equivalents, and restricted cash, at end of year 1,115  580  446  690  956 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-05), 10-K (filing date: 2017-02-06).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Norfolk Southern Corp.’s net cash provided by operating activities increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
Net cash used in investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Norfolk Southern Corp.’s net cash used in investing activities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Net cash used in financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Norfolk Southern Corp.’s net cash used in financing activities increased from 2018 to 2019 and from 2019 to 2020.