Norfolk Southern Corporation (NSC) quarterly cash flow statement — complete operating, investing & financing history
| Cash from Operations | 344M | 1.06B | 1.27B | 1.08B | 950M | 951M | 1.23B | 1.04B | 839M | 673M | 660M | 673M |
| Operating CF Margin % | 11.47% | 35.74% | 40.96% | 34.63% | 31.74% | 31.45% | 40.18% | 34.03% | 27.93% | 21.9% | 22.21% | 22.58% |
| Operating CF Growth % | -63.79% | 11.78% | 3.67% | 3.96% | 13.23% | 41.31% | 85.76% | 53.94% | -28.47% | -15.66% | -53.29% | -33.83% |
| Net Income | 547M | 644M | 711M | 768M | 750M | 735M | 1.1B | 736M | 52M | 527M | 478M | 356M |
| Depreciation & Amortization | 352M | 353M | 348M | 346M | 346M | 342M | 339M | 335M | 337M | 330M | 326M | 321M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 48M | -38M | 206M | 52M | 57M | 35M | 136M | 31M | -26M | 4M | -18M | -20M |
| Other Non-Cash Items | -603M | 65M | -159M | -52M | -95M | -112M | -456M | -96M | -60M | -96M | -52M | -57M |
| Working Capital Changes | 0 | 39M | 165M | -37M | -108M | -49M | 108M | 30M | 536M | -92M | -74M | 73M |
| Change in Receivables | -135M | 112M | 4M | 108M | -165M | 241M | -113M | 8M | -51M | 63M | -122M | 79M |
| Change in Inventory | 0 | 20M | 16M | -40M | 4M | 24M | 20M | -38M | -6M | 39M | -31M | -10M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2M | 0 | 0 |
| Cash from Investing | -213M | -644M | -483M | -414M | -1.02B | 11M | -224M | -723M | -1.84B | -788M | -653M | -350M |
| Capital Expenditures | 0 | 1.48B | -551M | -475M | -449M | -675M | -581M | -569M | -2.2B | -853M | -548M | -520M |
| CapEx % of Revenue | - | 49.6% | 17.76% | 15.27% | 15% | 22.32% | 19.04% | 18.69% | 73.2% | 27.76% | 18.45% | 17.45% |
| Acquisitions | 0 | -102M | 54M | 48M | 18M | -70M | 457M | 38M | 32M | 2.47B | 1M | 41M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -223M | -2.68B | 0 | 0 | 0 | 101M | 0 | 0 | 0 | -2.45B | 0 | 0 |
| Cash from Financing | -320M | -307M | -673M | -366M | -564M | -296M | -686M | -306M | 89M | 177M | 943M | -319M |
| Debt Issued (Net) | 0 | 158M | -301M | 144M | -1M | -1M | -401M | -2M | 400M | 589M | 1.45B | 128M |
| Equity Issued (Net) | 0 | -1M | -69M | -207M | -257M | 11M | 20M | 1M | -6M | -107M | -200M | -139M |
| Dividends Paid | -303M | -303M | -303M | -303M | -306M | -306M | -305M | -305M | -305M | -305M | -305M | -308M |
| Share Repurchases | -5M | 0 | -70M | -207M | -257M | 11M | 5M | 1M | -6M | -107M | -200M | -139M |
| Other Financing | -17M | -161M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -189M | 112M | 115M | 297M | -635M | 666M | 316M | 7M | -916M | 62M | 950M | 4M |
| Free Cash Flow | 344M | 2.54B | 720M | 602M | 501M | 276M | 645M | 467M | -1.36B | -180M | 112M | 153M |
| FCF Margin % | 11.47% | 85.34% | 23.2% | 19.36% | 16.74% | 9.13% | 21.14% | 15.34% | -45.27% | -5.86% | 3.77% | 5.13% |
| FCF Growth % | -31.34% | 819.57% | 11.63% | 28.91% | 136.84% | 253.33% | 475.89% | 205.23% | -282.55% | -236.36% | -88.43% | -73.11% |
| FCF per Share | - | 11.29 | 3.20 | 2.68 | 2.21 | 1.22 | 2.85 | 2.06 | -6.01 | -0.80 | 0.49 | 0.67 |
| FCF Conversion (FCF/Net Income) | 0.63x | 1.65x | 1.79x | 1.40x | 1.27x | 1.30x | 1.12x | 1.41x | 15.83x | 1.28x | 1.38x | 1.89x |
| Interest Paid | 0 | -570M | 192M | 186M | 192M | 193M | 198M | 0 | 0 | 202M | 133M | 0 |
| Taxes Paid | 0 | -433M | 19M | 413M | 1M | 21M | 177M | 0 | 0 | 160M | 206M | 0 |