Income Statement

Revenue

-4%

+24%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	546	537	526	518	511	504	501	497	491	489	487	489	496	501	499	494	486	481	482	476	471	461	448	441	435	436	440	444	452	453	460	467	469	471	466	462	455	453	454	474	463	472	482	495	504	510	517	525	535	546	553	545	538	533	532	545	552	556	563	563	566	568	558	550	544	535	543	557	570	592	600	604	609	612	617	625	627	632	641	646	658	667	680	692	699	699	704	722	748	782	803	807	805	802	796	792
Revenue	6 128 N/A	6 129 +0%	6 219 +1%	6 270 +1%	6 333 +1%	6 373 +1%	6 373 N/A	6 468 +1%	6 600 +2%	6 780 +3%	7 039 +4%	7 312 +4%	7 580 +4%	7 921 +4%	8 219 +4%	8 527 +4%	8 869 +4%	9 107 +3%	9 345 +3%	9 407 +1%	9 351 -1%	9 337 0%	9 297 0%	9 432 +1%	9 685 +3%	10 072 +4%	10 613 +5%	10 661 +0%	10 104 -5%	9 196 -9%	8 365 -9%	7 969 -5%	8 264 +4%	8 837 +7%	9 230 +4%	9 516 +3%	9 898 +4%	10 334 +4%	10 767 +4%	11 172 +4%	11 341 +2%	11 349 +0%	11 153 -2%	11 040 -1%	10 989 0%	10 917 -1%	11 048 +1%	11 245 +2%	11 196 0%	11 436 +2%	11 635 +2%	11 624 0%	11 502 -1%	11 173 -3%	10 863 -3%	10 511 -3%	10 364 -1%	10 105 -2%	9 916 -2%	9 888 0%	10 043 +2%	10 226 +2%	10 372 +1%	10 551 +2%	10 693 +1%	10 954 +2%	11 231 +3%	11 458 +2%	11 581 +1%	11 608 +0%	11 502 -1%	11 296 -2%	11 081 -2%	10 241 -8%	9 906 -3%	9 789 -1%	9 803 +0%	10 517 +7%	10 863 +3%	11 142 +3%	11 418 +2%	11 869 +4%	12 360 +4%	12 745 +3%	12 962 +2%	12 692 -2%	12 320 -3%	12 156 -1%	12 028 -1%	12 092 +1%	12 172 +1%	12 123 0%	12 112 0%	12 178 +1%	12 230 +0%	12 180 0%
Gross Profit
Cost of Revenue	(3 946)	(3 903)	(3 950)	(3 992)	(4 055)	(4 125)	(4 119)	(4 263)	(4 279)	(4 325)	(4 428)	(4 473)	(4 684)	(4 858)	(5 087)	(5 253)	(5 461)	(5 622)	(5 686)	(5 729)	(5 780)	(5 843)	(5 918)	(6 072)	(6 269)	(6 540)	(6 861)	(6 773)	(6 402)	(5 817)	(5 309)	(5 170)	(5 296)	(5 607)	(5 822)	(6 021)	(6 351)	(6 636)	(6 864)	(7 097)	(7 108)	(7 041)	(7 039)	(6 717)	(7 000)	(7 029)	(7 042)	(7 072)	(7 037)	(7 082)	(7 126)	(6 805)	(6 947)	(6 814)	(6 641)	(6 254)	(6 223)	(5 923)	(5 679)	(5 547)	(5 667)	(5 742)	(5 812)	(5 793)	(5 834)	(5 918)	(6 024)	(6 034)	(6 020)	(6 014)	(5 957)	(5 878)	(5 663)	(5 281)	(5 096)	(4 948)	(4 907)	(5 045)	(5 081)	(5 197)	(5 380)	(5 700)	(6 036)	(6 358)	(6 534)	(6 521)	(6 478)	(6 504)	(6 543)	(6 524)	(6 200)	(5 798)	(5 920)	(5 886)	(6 111)	(6 163)
Gross Profit	2 182 N/A	2 226 +2%	2 269 +2%	2 278 +0%	2 278 N/A	2 248 -1%	2 254 +0%	2 205 -2%	2 321 +5%	2 455 +6%	2 611 +6%	2 839 +9%	2 896 +2%	3 063 +6%	3 132 +2%	3 274 +5%	3 408 +4%	3 485 +2%	3 659 +5%	3 678 +1%	3 571 -3%	3 494 -2%	3 379 -3%	3 360 -1%	3 416 +2%	3 532 +3%	3 752 +6%	3 888 +4%	3 702 -5%	3 379 -9%	3 056 -10%	2 799 -8%	2 968 +6%	3 230 +9%	3 408 +6%	3 495 +3%	3 547 +1%	3 698 +4%	3 903 +6%	4 075 +4%	4 233 +4%	4 308 +2%	4 114 -5%	4 323 +5%	3 989 -8%	3 888 -3%	4 006 +3%	4 173 +4%	4 159 0%	4 354 +5%	4 509 +4%	4 819 +7%	4 555 -5%	4 359 -4%	4 222 -3%	4 257 +1%	4 141 -3%	4 182 +1%	4 237 +1%	4 341 +2%	4 376 +1%	4 484 +2%	4 560 +2%	4 758 +4%	4 859 +2%	5 036 +4%	5 207 +3%	5 424 +4%	5 561 +3%	5 594 +1%	5 545 -1%	5 418 -2%	5 418 N/A	4 960 -8%	4 810 -3%	4 841 +1%	4 896 +1%	5 472 +12%	5 782 +6%	5 945 +3%	6 038 +2%	6 169 +2%	6 324 +3%	6 387 +1%	6 428 +1%	6 171 -4%	5 842 -5%	5 652 -3%	5 485 -3%	5 568 +2%	5 972 +7%	6 325 +6%	6 192 -2%	6 292 +2%	6 119 -3%	6 017 -2%
Operating Income
Operating Expenses	(1 143)	(1 147)	(1 124)	(1 120)	(1 126)	(1 120)	(1 126)	(1 141)	(1 142)	(1 149)	(1 147)	(1 137)	(1 137)	(1 137)	(1 147)	(1 157)	(1 143)	(1 135)	(1 122)	(1 133)	(1 037)	(947)	(866)	(786)	(781)	(788)	(795)	(815)	(813)	(821)	(830)	(845)	(834)	(831)	(825)	(826)	(826)	(835)	(848)	(862)	(875)	(891)	(904)	(1 205)	(919)	(916)	(916)	(922)	(926)	(938)	(944)	(1 249)	(1 041)	(1 050)	(1 089)	(1 378)	(1 140)	(1 225)	(1 282)	(1 332)	(1 333)	(1 339)	(1 340)	(1 236)	(1 259)	(1 282)	(1 328)	(1 465)	(1 471)	(1 465)	(1 440)	(1 429)	(1 442)	(1 439)	(1 445)	(1 454)	(1 447)	(1 466)	(1 480)	(1 498)	(1 521)	(1 548)	(1 567)	(1 578)	(1 606)	(1 628)	(1 652)	(1 685)	(1 712)	(1 724)	(1 550)	(1 746)	(1 556)	(1 581)	(1 791)	(1 813)
Selling, General & Administrative	(429)	(426)	(413)	(412)	(406)	(405)	(410)	(419)	(414)	(413)	(387)	(319)	(252)	(182)	(134)	(129)	(126)	(126)	(125)	(126)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(283)	0	0	0	0	0	0	0	(293)	(82)	0	0	(319)	(79)	(154)	(228)	(306)	(300)	(299)	(293)	(181)	(225)	(239)	(274)	(363)	(358)	(341)	(306)	(291)	(295)	(294)	(293)	(300)	(293)	(300)	(310)	(317)	(330)	(347)	(357)	(357)	(366)	(371)	(375)	(387)	(398)	(396)	(397)	(393)	(382)	(396)	(409)	(420)
Depreciation & Amortization	(514)	(515)	(515)	(515)	(515)	(515)	(514)	(513)	(515)	(516)	(538)	(598)	(662)	(726)	(771)	(774)	(764)	(752)	(743)	(750)	(747)	(757)	(765)	(786)	(781)	(788)	(795)	(815)	(813)	(821)	(830)	(845)	(834)	(831)	(825)	(826)	(826)	(835)	(848)	(862)	(875)	(891)	(904)	(922)	(919)	(916)	(916)	(922)	(926)	(938)	(944)	(956)	(959)	(968)	(1 007)	(1 059)	(1 061)	(1 071)	(1 054)	(1 026)	(1 033)	(1 040)	(1 047)	(1 055)	(1 068)	(1 077)	(1 088)	(1 102)	(1 113)	(1 124)	(1 134)	(1 138)	(1 147)	(1 145)	(1 152)	(1 154)	(1 154)	(1 166)	(1 170)	(1 181)	(1 191)	(1 201)	(1 210)	(1 221)	(1 240)	(1 257)	(1 277)	(1 298)	(1 314)	(1 328)	(1 341)	(1 353)	(1 362)	(1 373)	(1 382)	(1 393)
Other Operating Expenses	(200)	(206)	(196)	(193)	(205)	(200)	(202)	(209)	(213)	(220)	(222)	(220)	(223)	(229)	(242)	(254)	(253)	(257)	(254)	(257)	(290)	(190)	(101)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(82)	(82)	0	0	0	0	0	0	0	0	0	34	34	34	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	188	0	188	188	0	0
Operating Income	1 039 N/A	1 079 +4%	1 145 +6%	1 158 +1%	1 152 -1%	1 128 -2%	1 128 N/A	1 064 -6%	1 179 +11%	1 306 +11%	1 464 +12%	1 702 +16%	1 759 +3%	1 926 +9%	1 985 +3%	2 117 +7%	2 265 +7%	2 350 +4%	2 537 +8%	2 545 +0%	2 534 0%	2 547 +1%	2 513 -1%	2 574 +2%	2 635 +2%	2 744 +4%	2 957 +8%	3 073 +4%	2 889 -6%	2 558 -11%	2 226 -13%	1 954 -12%	2 134 +9%	2 399 +12%	2 583 +8%	2 669 +3%	2 721 +2%	2 863 +5%	3 055 +7%	3 213 +5%	3 358 +5%	3 417 +2%	3 210 -6%	3 118 -3%	3 070 -2%	2 972 -3%	3 090 +4%	3 251 +5%	3 233 -1%	3 416 +6%	3 565 +4%	3 570 +0%	3 514 -2%	3 309 -6%	3 133 -5%	2 879 -8%	3 001 +4%	2 957 -1%	2 955 0%	3 009 +2%	3 043 +1%	3 145 +3%	3 220 +2%	3 522 +9%	3 600 +2%	3 754 +4%	3 879 +3%	3 959 +2%	4 090 +3%	4 129 +1%	4 105 -1%	3 989 -3%	3 976 0%	3 521 -11%	3 365 -4%	3 387 +1%	3 449 +2%	4 006 +16%	4 302 +7%	4 447 +3%	4 517 +2%	4 621 +2%	4 757 +3%	4 809 +1%	4 822 +0%	4 543 -6%	4 190 -8%	3 967 -5%	3 773 -5%	3 844 +2%	4 422 +15%	4 579 +4%	4 636 +1%	4 711 +2%	4 328 -8%	4 204 -3%
Pre-Tax Income
Interest Income Expense	(546)	(537)	(526)	(518)	(511)	(504)	(501)	(497)	(491)	(489)	(487)	(489)	(496)	(501)	(499)	(494)	(486)	(481)	(482)	(375)	(471)	(461)	(448)	(376)	(435)	(436)	(440)	(393)	(443)	(436)	(436)	(427)	(440)	(443)	(442)	(440)	(435)	(440)	(436)	(437)	(455)	(464)	(482)	(482)	(504)	(510)	(517)	(462)	(535)	(546)	(553)	(524)	(538)	(533)	(532)	(542)	(552)	(556)	(563)	(563)	(566)	(568)	(558)	(550)	(544)	(535)	(543)	(557)	(570)	(592)	(600)	(535)	(609)	(612)	(617)	(540)	(627)	(632)	(641)	(629)	(658)	(667)	(680)	(769)	(699)	(699)	(704)	(657)	(748)	(782)	(803)	(790)	(788)	(785)	(779)	(772)
Non-Reccuring Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(385)	(385)	(385)	(385)	0	0	0	0	0	0	0	0	(387)	(803)	(966)	(1 116)	(1 420)	(936)	(674)	(508)	368	337	222	152
Gain/Loss on Disposition of Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	54	0	0	0	51	0	0	0	29	0	0	0	18	0	0	0	41	0	0	0	32	0	0	0	0	0	0	0	101	0	0	0	13	0	0	0	55	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Other Income	106	84	72	66	53	75	83	19	8	(16)	12	76	81	90	82	74	107	131	140	6	121	109	99	(12)	93	118	126	41	111	93	84	77	101	83	131	97	140	164	138	110	154	151	132	122	235	233	230	75	124	113	115	75	99	100	107	50	98	83	73	136	160	204	214	156	124	105	96	67	103	96	88	37	84	111	128	68	138	124	99	60	65	16	0	90	74	145	187	126	153	113	107	48	61	68	57	81
Pre-Tax Income	599 N/A	626 +5%	691 +10%	706 +2%	694 -2%	699 +1%	710 +2%	586 -17%	696 +19%	801 +15%	989 +23%	1 289 +30%	1 344 +4%	1 515 +13%	1 568 +3%	1 697 +8%	1 886 +11%	2 000 +6%	2 195 +10%	2 230 +2%	2 184 -2%	2 195 +1%	2 164 -1%	2 237 +3%	2 293 +3%	2 426 +6%	2 643 +9%	2 750 +4%	2 557 -7%	2 215 -13%	1 874 -15%	1 622 -13%	1 795 +11%	2 039 +14%	2 272 +11%	2 367 +4%	2 426 +2%	2 587 +7%	2 757 +7%	2 918 +6%	3 057 +5%	3 104 +2%	2 860 -8%	2 758 -4%	2 801 +2%	2 695 -4%	2 803 +4%	2 965 +6%	2 822 -5%	2 983 +6%	3 127 +5%	3 134 +0%	3 075 -2%	2 876 -6%	2 708 -6%	2 442 -10%	2 547 +4%	2 484 -2%	2 465 -1%	2 582 +5%	2 637 +2%	2 781 +5%	2 876 +3%	3 128 +9%	3 180 +2%	3 324 +5%	3 432 +3%	3 469 +1%	3 623 +4%	3 633 +0%	3 593 -1%	3 491 -3%	3 066 -12%	2 635 -14%	2 491 -5%	2 530 +2%	2 960 +17%	3 498 +18%	3 760 +7%	3 878 +3%	3 924 +1%	3 970 +1%	4 077 +3%	4 130 +1%	3 810 -8%	3 186 -16%	2 707 -15%	2 320 -14%	1 758 -24%	2 239 +27%	3 052 +36%	3 329 +9%	4 277 +28%	4 331 +1%	3 828 -12%	3 665 -4%
Net Income
Tax Provision	(212)	(227)	(245)	(246)	(235)	(222)	(222)	(175)	(212)	(241)	(278)	(379)	(385)	(345)	(385)	(416)	(494)	(657)	(737)	(749)	(723)	(715)	(714)	(773)	(823)	(897)	(980)	(1 034)	(955)	(819)	(695)	(588)	(681)	(780)	(871)	(871)	(862)	(858)	(919)	(1 002)	(1 056)	(1 136)	(1 044)	(1 009)	(1 012)	(965)	(993)	(1 055)	(994)	(1 058)	(1 125)	(1 134)	(1 133)	(1 063)	(1 002)	(886)	(914)	(879)	(852)	(914)	(923)	(975)	(1 024)	(1 055)	(988)	(919)	(831)	(803)	(832)	(830)	(835)	(769)	(640)	(539)	(483)	(517)	(655)	(766)	(844)	(873)	(889)	(935)	(837)	(860)	(777)	(616)	(617)	(493)	(344)	(444)	(636)	(707)	(958)	(981)	(866)	(792)
Income from Continuing Operations	387	399	446	460	459	477	488	411	484	560	711	910	959	1 170	1 183	1 281	1 392	1 343	1 458	1 481	1 461	1 480	1 450	1 464	1 470	1 529	1 663	1 716	1 602	1 396	1 179	1 034	1 114	1 259	1 401	1 496	1 564	1 729	1 838	1 916	2 001	1 968	1 816	1 749	1 789	1 730	1 810	1 910	1 828	1 925	2 002	2 000	1 942	1 813	1 706	1 556	1 633	1 605	1 613	1 668	1 714	1 806	1 852	2 073	2 192	2 405	2 601	2 666	2 791	2 803	2 758	2 722	2 426	2 096	2 008	2 013	2 305	2 732	2 916	3 005	3 035	3 035	3 240	3 270	3 033	2 570	2 090	1 827	1 414	1 795	2 416	2 622	3 319	3 350	2 962	2 873
Net Income (Common)	387 N/A	399 +3%	446 +12%	460 +3%	583 +27%	601 +3%	612 +2%	535 -13%	484 -10%	560 +16%	711 +27%	910 +28%	959 +5%	1 170 +22%	1 183 +1%	1 281 +8%	1 392 +9%	1 343 -4%	1 458 +9%	1 475 +1%	1 455 -1%	1 474 +1%	1 444 -2%	1 455 +1%	1 463 +1%	1 520 +4%	1 651 +9%	1 707 +3%	1 590 -7%	1 384 -13%	1 168 -16%	1 026 -12%	1 106 +8%	1 251 +13%	1 393 +11%	1 488 +7%	1 556 +5%	1 721 +11%	1 830 +6%	1 907 +4%	1 992 +4%	1 959 -2%	1 806 -8%	1 740 -4%	1 781 +2%	1 723 -3%	1 804 +5%	1 903 +5%	1 821 -4%	1 917 +5%	1 995 +4%	1 994 0%	1 936 -3%	1 808 -7%	1 700 -6%	1 550 -9%	1 628 +5%	1 600 -2%	1 607 +0%	1 663 +3%	1 709 +3%	1 801 +5%	1 849 +3%	5 400 +192%	5 519 +2%	5 732 +4%	5 927 +3%	2 660 -55%	2 785 +5%	2 796 +0%	2 752 -2%	2 717 -1%	2 421 -11%	2 093 -14%	2 004 -4%	2 010 +0%	2 302 +15%	2 729 +19%	2 914 +7%	3 003 +3%	3 034 +1%	3 033 0%	3 239 +7%	3 268 +1%	3 030 -7%	2 568 -15%	2 088 -19%	1 824 -13%	1 412 -23%	1 792 +27%	2 413 +35%	2 619 +9%	3 316 +27%	3 347 +1%	2 959 -12%	2 870 -3%
EPS (Diluted)	1 N/A	1.02 +2%	1.14 +12%	1.18 +4%	1.49 +26%	1.53 +3%	1.56 +2%	1.36 -13%	1.23 -10%	1.42 +15%	1.79 +26%	2.28 +27%	2.33 +2%	2.87 +23%	2.88 +0%	3.11 +8%	3.3 +6%	3.17 -4%	3.55 +12%	3.57 +1%	3.61 +1%	3.65 +1%	3.63 -1%	3.65 +1%	3.81 +4%	3.96 +4%	4.33 +9%	4.49 +4%	4.28 -5%	3.72 -13%	3.15 -15%	2.76 -12%	2.97 +8%	3.35 +13%	3.73 +11%	4 +7%	4.31 +8%	4.81 +12%	5.24 +9%	5.45 +4%	5.98 +10%	5.98 N/A	5.61 -6%	5.37 -4%	5.59 +4%	5.42 -3%	5.74 +6%	6.04 +5%	5.88 -3%	6.19 +5%	6.38 +3%	6.38 N/A	6.24 -2%	5.96 -4%	5.66 -5%	5.1 -10%	5.44 +7%	5.42 0%	5.49 +1%	5.62 +2%	5.83 +4%	6.18 +6%	6.38 +3%	18.62 +192%	19.3 +4%	20.2 +5%	21.3 +5%	9.51 -55%	10.33 +9%	10.46 +1%	10.41 0%	10.21 -2%	9.35 -8%	8.15 -13%	7.82 -4%	7.84 +0%	9.11 +16%	10.91 +20%	11.82 +8%	12.11 +2%	12.63 +4%	12.77 +1%	13.84 +8%	13.84 N/A	13.27 -4%	11.26 -15%	9.19 -18%	8.02 -13%	6.23 -22%	7.92 +27%	10.66 +35%	11.57 +9%	14.64 +27%	14.86 +2%	13.16 -11%	12.74 -3%

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Norfolk Southern Corp
NYSE:NSC

Income Statement

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Norfolk Southern Corp

Income Statement
Norfolk Southern Corp

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Norfolk Southern Corp NYSE:NSC

Income Statement

Earnings Waterfall Norfolk Southern Corp

Income Statement Norfolk Southern Corp

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Norfolk Southern Corp
NYSE:NSC

Earnings Waterfall
Norfolk Southern Corp

Income Statement
Norfolk Southern Corp