Norfolk Southern Corporation (NSC)

Norfolk Southern Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Income	1,414	1,827	3,270	3,005	2,013	2,722
Depreciation & Amortization	1,314	1,298	1,221	1,181	1,154	1,139
Other Operating Activities	117	54	-269	69	470	31
Operating Cash Flow	2,845	3,179	4,222	4,255	3,637	3,892
Operating Cash Flow Growth	-35.36%	-24.70%	-0.78%	16.99%	-6.55%	4.46%
Capital Expenditures	-2,380	-2,263	-1,685	-1,311	-1,161	-1,642
Acquisitions	-1,642	0	0	0	0	0
Change in Investments	387	81	82	89	-14	-122
Investing Cash Flow	-3,635	-2,182	-1,603	-1,222	-1,175	-1,764
Dividends Paid	-1,223	-1,225	-1,167	-1,028	-960	-949
Share Issuance / Repurchase	-452	-619	-3,114	-3,373	-1,370	-2,072
Debt Issued / Paid	2,565	1,959	1,279	1,092	403	1,004
Other Financing Activities	-	-	-	-	-	23
Financing Cash Flow	890	115	-3,002	-3,309	-1,927	-1,994
Net Cash Flow	100	1,112	-383	-276	535	134
Free Cash Flow	465	916	2,537	2,944	2,476	2,250
Free Cash Flow Growth	-82.53%	-63.89%	-13.82%	18.90%	10.04%	13.69%
Free Cash Flow Margin	3.87%	7.54%	19.91%	26.42%	25.29%	19.92%
Free Cash Flow Per Share	2.06	4.05	10.96	12.10	9.75	8.63

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).