Item 1A. Risk Factors

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Item 1A. Risk Factors

For information regarding factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors discussed under Part I, Item 1A (Risk Factors) of CSX's most recent annual report on Form 10-K. See also Part I, Item 2 (Forward-Looking Statements) of this quarterly report on Form 10-Q.

Item 2. CSX Purchases of Equity Securities

The Company continues to repurchase shares under the $5 billion program announced in July 2022. At September 30, 2023, approximately $371 million of repurchase authority remained under this program. On October 17, 2023, a new incremental $5 billion share repurchase program was approved. For more information about share repurchases, see Note 2, Earnings Per Share. Share repurchase activity for the third quarter 2023 is shown below. Amounts exclude the impact of excise tax on net share repurchases imposed as part of the Inflation Reduction Act of 2022.


	CSX Purchases of Equity Securities for the Quarter
Third Quarter	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
Beginning Balance					$	1,341,649,845
July 1 - July 31, 2023	5,679,451	$	33.16	5,679,451	1,153,317,232
August 1 - August 31, 2023	13,590,489	31.19		13,590,489	729,420,842
September 1 - September 30, 2023	11,748,190	30.47		11,748,190	371,411,668
Ending Balance	31,018,130	$	31.28	31,018,130	$	371,411,668

CSX Q3 2023 Form 10-Q p.41

CSX CORPORATION

PART II

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not Applicable

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