Item 6. Selected Financial Data

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Item 6. Selected Financial Data

Selected financial data related to the Company’s financial results for the last five fiscal years are listed below.



					Fiscal Years
(Dollars and Shares in Millions, Except Per Share Amounts)		2015			2014			2013			2012			2011
Financial Performance
	Revenue	$	11,811		$	12,669		$	12,026		$	11,763		$	11,795
	Expense	8,227			9,056			8,553			8,299			8,325
	Operating Income	$	3,584		$	3,613		$	3,473		$	3,464		$	3,470
Net Earnings from Continuing Operations		1,968			1,927			1,864			1,863			1,854
	Operating Ratio	69.7		%	71.5		%	71.1		%	70.6		%	70.6		%
Net Earnings Per Share:
	From Continuing Operations, Basic	$	2.00		$	1.93		$	1.83		$	1.80		$	1.71
	From Continuing Operations, Assuming Dilution	2.00			1.92			1.83			1.79			1.70
Average Common Shares Outstanding
	Basic	983			1,001			1,019			1,038			1,083
	Assuming Dilution	984			1,002			1,019			1,040			1,089
Financial Position
	Cash, Cash Equivalents and Short-term Investments	$	1,438		$	961		$	1,079		$	1,371		$	1,306
	Total Assets	35,039			33,053			31,782			30,723			29,491
	Long-term Debt	10,683			9,514			9,022			9,052			8,734
	Shareholders' Equity	11,668			11,176			10,504			9,136			8,598
	Dividend Per Share	$	0.70		$	0.63		$	0.59		$	0.54		$	0.45
Additional Data
	Capital Expenditures (a)	$	2,562		$	2,449		$	2,313		$	2,341		$	2,297
	Employees -- Annual Averages (estimated)	31,285			31,511			31,254			32,120			31,344
	Employees -- Year-end Count (estimated)	29,410			32,287			31,413			30,787			32,235


(a)	Capital expenditures include investments related to reimbursable public-private partnerships. These partnership investments of $14 million, $8 million, $40 million, $166 million and $102 million in 2015, 2014, 2013, 2012 and 2011, respectively, are projects that are partially or wholly reimbursed to CSX through either government grants or other funding sources such as cash received from a property sale. These reimbursements may not be fully received in a given year; therefore, the timing of receipts may differ from the timing of the investment. See the capital expenditures table on page 36 for additional information.

(a)

Capital expenditures include investments related to reimbursable public-private partnerships. These partnership investments of $14 million, $8 million, $40 million, $166 million and $102 million in 2015, 2014, 2013, 2012 and 2011, respectively, are projects that are partially or wholly reimbursed to CSX through either government grants or other funding sources such as cash received from a property sale. These reimbursements may not be fully received in a given year; therefore, the timing of receipts may differ from the timing of the investment. See the capital expenditures table on page 36 for additional information.

CSX CORPORATION

PART II

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