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)		2016			2015			2014			2013			2012
Financial Performance
	Revenue	$	11,069		$	11,811		$	12,669		$	12,026		$	11,763
	Expense	7,680			8,227			9,056			8,553			8,299
	Operating Income	$	3,389		$	3,584		$	3,613		$	3,473		$	3,464
Net Earnings from Continuing Operations		1,714			1,968			1,927			1,864			1,863
	Operating Ratio	69.4		%	69.7		%	71.5		%	71.1		%	70.6		%
Net Earnings Per Share:
	From Continuing Operations, Basic	$	1.81		$	2.00		$	1.93		$	1.83		$	1.80
	From Continuing Operations, Assuming Dilution	1.81			2.00			1.92			1.83			1.79
Average Common Shares Outstanding
	Basic	947			983			1,001			1,019			1,038
	Assuming Dilution	948			984			1,002			1,019			1,040
Financial Position
	Cash, Cash Equivalents and Short-term Investments	$	1,020		$	1,438		$	961		$	1,079		$	1,371
	Total Assets	35,414			34,745			32,747			31,462			30,436
	Long-term Debt	10,962			10,515			9,349			8,857			8,884
	Shareholders' Equity	11,694			11,668			11,176			10,504			9,136
	Dividend Per Share	$	0.72		$	0.70		$	0.63		$	0.59		$	0.54
Additional Data
	Capital Expenditures (a)	$	2,705		$	2,562		$	2,449		$	2,313		$	2,341
	Employees -- Annual Averages (estimated)	27,350			31,285			31,511			31,254			32,120
	Employees -- Year-end Count (estimated)	26,628			29,410			32,287			31,413			30,787


(a)	Capital expenditures include investments related to reimbursable public-private partnerships. These partnership investments of $41 million, $14 million, $8 million, $40 million and $166 million in 2016, 2015, 2014, 2013 and 2012, 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 46 for additional information.

(a)

Capital expenditures include investments related to reimbursable public-private partnerships. These partnership investments of $41 million, $14 million, $8 million, $40 million and $166 million in 2016, 2015, 2014, 2013 and 2012, 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 46 for additional information.

Certain prior year data has been reclassified to conform to the current presentation.

CSX 2016 Form 10-K p. 23

CSX CORPORATION

PART II

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