NORFOLK SOUTHERN CORP
For the period ended Dec 31, 2025. Filed Feb 9, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 9, 2026
NSC$327.93+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows Years ended December 31,
| Years ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| ($ in millions) | |||
| Cash flows from operating activities | |||
| Net income | $2,873 | $2,622 | $1,827 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Depreciation | 1,393 | 1,353 | 1,298 |
| Deferred income taxes | 277 | 176 | (49) |
| Gains and losses on properties | (253) | (490) | (49) |
| Changes in assets and liabilities affecting operations: | |||
| Accounts receivable | 59 | 85 | (2) |
| Materials and supplies | 6 | (13) | (11) |
| Other current assets | (23) | 5 | (54) |
| Current liabilities other than debt | 259 | 548 | 435 |
| Other – net | (230) | (234) | (216) |
| Net cash provided by operating activities | 4,361 | 4,052 | 3,179 |
| Cash flows from investing activities | |||
| Property additions | (2,204) | (2,381) | (2,327) |
| Acquisition of assets of CSR | — | (1,643) | (22) |
| Property sales and other transactions | 164 | 558 | 86 |
| Investment purchases | (621) | (319) | (124) |
| Investment sales and other transactions | 99 | 1,005 | 205 |
| Net cash used in investing activities | (2,562) | (2,780) | (2,182) |
| Cash flows from financing activities | |||
| Dividends | (1,215) | (1,221) | (1,225) |
| Common Stock transactions | 2 | 26 | 3 |
| Purchase and retirement of Common Stock | (534) | — | (622) |
| Proceeds from borrowings | 396 | 1,051 | 3,293 |
| Debt repayments | (559) | (1,055) | (1,334) |
| Net cash provided by (used in) financing activities | (1,910) | (1,199) | 115 |
| Net increase (decrease) in cash and cash equivalents | (111) | 73 | 1,112 |
| Cash and cash equivalents | |||
| At beginning of year | 1,641 | 1,568 | 456 |
| At end of year | $1,530 | $1,641 | $1,568 |
| Supplemental disclosures of cash flow information | |||
| Cash paid during the year for: | |||
| Interest (net of amounts capitalized) | $765 | $764 | $653 |
| Income taxes (net of refunds) | 491 | 305 | 681 |
K52
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.