Norfolk Southern Corp.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $734.0M | $547.0M | $711.0M | $768.0M | $750.0M | $1.10B | $737.0M | $53.0M |
| Depreciation & Amortization | — | $352.0M | — | — | $346.0M | — | — | $337.0M |
| Depreciation | $358.0M | $352.0M | $348.0M | $346.0M | $346.0M | $339.0M | $335.0M | $337.0M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $1.05B | $344.0M | $1.27B | $1.08B | $950.0M | $1.23B | $1.04B | $839.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $439.0M | $382.0M | $551.0M | $475.0M | $449.0M | $581.0M | $568.0M | $557.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | $-213.0M | — | — | $-1.02B | — | — | $-1.84B |
| Financing Activities | ||||||||
| Dividends Paid | — | $303.0M | — | — | $306.0M | — | — | $305.0M |
| Stock Repurchases | — | $5.0M | — | — | $248.0M | — | — | $0 |
| Net Cash from Financing Activities | — | $-320.0M | — | — | $-564.0M | — | — | $89.0M |
| Net Change in Cash | — | $-189.0M | — | — | $-635.0M | — | — | $-916.0M |
| Free Cash Flow | $615.0M | $-38.0M | $720.0M | $602.0M | $501.0M | $645.0M | $468.0M | $282.0M |