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)		2018			2017			2016			2015			2014
Financial Performance
	Revenue	$	12,250		$	11,408		$	11,069		$	11,811		$	12,669
	Expense	7,381			7,688			7,656			8,183			8,991
	Operating Income	$	4,869		$	3,720		$	3,413		$	3,628		$	3,678
	Adjusted Operating Income(a)	4,869			3,818			3,413			3,628			3,678
Net Earnings from Continuing Operations		$	3,309		$	5,471		$	1,714		$	1,968		$	1,927
Adjusted Net Earnings from Continuing Operations(a)		3,309			2,097			1,714			1,968			1,927
	Operating Ratio	60.3		%	67.4		%	69.2		%	69.3		%	71.0		%
	Adjusted Operating Ratio(a)	60.3		%	66.5		%	69.2		%	69.3		%	71.0		%
Net Earnings Per Share:
	From Continuing Operations, Basic	$	3.86		$	6.01		$	1.81		$	2.00		$	1.93
	From Continuing Operations, Assuming Dilution	3.84			5.99			1.81			2.00			1.92
	Adjusted From Continuing Operations, Assuming Dilution(a)	3.84			2.30			1.81			2.00			1.92
Average Common Shares Outstanding
	Basic	857			911			947			983			1,001
	Assuming Dilution	861			914			948			984			1,002
Financial Position
	Cash, Cash Equivalents and Short-term Investments	$	1,111		$	419		$	1,020		$	1,438		$	961
	Total Assets	36,729			35,739			35,414			34,745			32,747
	Long-term Debt	14,739			11,790			10,962			10,515			9,349
	Shareholders' Equity	12,580			14,721			11,694			11,668			11,176
	Dividend Per Share	$	0.88		$	0.78		$	0.72		$	0.70		$	0.63
Additional Data
	Capital Expenditures	$	1,745		$	2,040		$	2,705		$	2,562		$	2,449
	Employees -- Annual Averages (estimated)	22,901			25,230			27,350			31,285			31,511
	Employees -- Year-end Count (estimated)	22,475			24,006			26,628			29,410			32,287

(a) Adjusted operating income, adjusted net earnings and adjusted earnings per share assuming dilution are non-GAAP measures that exclude the impacts of tax reform and restructuring activities in 2017. These non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP. Reconciliations of non-GAAP measures to corresponding GAAP measures are presented in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

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

CSX 2018 Form 10-K p. 22

CSX CORPORATION

PART II

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