The company's intermodal volume increased from 2,766 units in 2023 to 2,893 units in 2024, an increase of 5%. This increase was primarily due to international shipments driven by higher imports through east coast ports and inventory replenishments.

The company's automotive volume increased from 388 units in 2023 to 393 units in 2024, an increase of 1%. This increase was due to new business wins, which were partially offset by lower North American vehicle production.

The company's coal volume decreased from 755 units in 2023 to 736 units in 2024, a decrease of 3%. Export coal increased due to higher shipments of metallurgical and thermal coal, while domestic coal decreased.

Velocity improved by 2% while dwell increased by 10%, respectively, relative to 2023. Carload trip plan performance decreased to 79% compared to 84%, while intermodal trip plan performance decreased to 91% compared to 95%, relative to 2023.

The FRA personal injury frequency index, a measure of the number of FRA-reportable injuries per 200,000 man-hours, increased from 0.94 in 2023 to 1.19 in 2024, a 27% increase. Safety is a top priority at CSX, and the Company is committed to reducing risk.

The FRA train accident rate, a measure of the number of FRA-reportable train accidents per million train-miles, increased from 3.44 in 2023 to 3.40 in 2024, a 1% increase. Safety is a top priority at CSX, and the Company is committed to reducing risk.

The Company, its third-party vendors and other companies in the rail and transportation industries have been subject to, and are likely to continue to be the target of, data breaches, cyber-attacks and other similar incidents. A disruption or compromise of the Company's or its key third-party vendors' information technology systems could adversely affect the Company's business or reputation.

CSXT has experienced, and in the future could experience, rail network difficulties related to: (i) locomotive or crew shortages; (ii) labor shortages or other service disruptions in the supply chain affecting trucking, ports, handling facilities, customer facilities or other railroads; (iii) unpredictable increases in demand; (iv) extreme weather conditions.

There is potential for operational impacts from climate-related risks, including changing weather patterns, in the Company's operational territory, which could impact the Company's network or other assets. Climate and emissions-related laws and regulations have been proposed and, in some cases adopted, on the federal, state, provincial and local levels.

The Company experiences competition in pricing, service, reliability and other factors from various transportation providers including railroads and motor carriers that operate similar routes across its service area and, to a less significant extent, barges, ships and pipelines.

A decline or disruption in general domestic and global economic conditions that affects demand for the commodities and products the Company transports, including import and export volume, could reduce revenues or have other adverse effects on the Company's cost structure and profitability.

Over time, changing dynamics in the U.S. and global energy markets, including the impacts of regulation and alternative fuel sources, have resulted in lower energy production from coal-fired power plants in CSX's service territory.

Fuel expense decreased $209 million primarily due to a 13% decrease in locomotive fuel prices and improved efficiency. Fuel efficiency, measured in gallons of locomotive fuel per 1,000 gross ton-miles, improved from 1.02 in 2023 to 0.98 in 2024, a 4% improvement.

As of December 2024, CSXT's fleet of owned or long-term leased locomotives consisted of 3,129 freight locomotives, 210 switching locomotives, and 175 auxiliary units. Of owned locomotives, approximately 67% were in active service as of December 31, 2024.

As of December 2024, the Company's owned and long-term leased equipment consisted of 19,077 gondolas, 11,036 multi-level flat cars, 6,109 open-top hoppers, 5,506 covered hoppers, 2,318 box cars, 565 flat cars, and 586 other cars, for a total of 45,197 freight cars. The company also had 18,907 containers.

The Company relies on information technology in all aspects of its business. The security, stability and availability of the Company's and its key third-party vendors' information technology systems are critical to its ability to operate safely and effectively and to compete within the transportation industry.

The cybersecurity program and related risks at CSX are managed by the VP Technology and CISO. The Company's CISO is a Certified Information Systems Auditor with over 30 years of industry experience.

The Company's Audit Committee of the Board of Directors oversees the Company's cybersecurity risk, mitigation strategies and overall resiliency of the Company's technology infrastructure.

On February 12, 2025, the Company's Board of Directors authorized an 8% increase in the quarterly cash dividend to $0.13 per common share effective March 2025.

During fourth quarter 2023, the share repurchase program announced in July 2022 was completed and the Company began repurchasing shares under the $5 billion share repurchase program approved in October 2023. Total repurchase authority remaining as of December 31, 2024 was $2.6 billion.

In 2024, CSX continued to invest in its business to create long-term value for shareholders. The Company is committed to maintaining and improving its existing infrastructure and to positioning itself for long-term, profitable growth through optimizing network and terminal capacity.

The Company is committed to continuous improvement in safety and service performance through training, innovation and investment. Training and safety programs are designed to prevent incidents that can adversely impact employees, customers and communities.

The Company is subject to wide-ranging federal, state, provincial and local environmental laws and regulations concerning emissions into the air, ground and water; the handling, storage, use, generation, transportation and disposal of waste and other materials; the clean-up of hazardous material and petroleum releases and the health and safety of our employees.

The Compensation and Talent Management Committee of the Board of Directors is charged with oversight of CSX's workforce. The Company is committed to developing a culture that promotes workforce diversity and inclusion and encourages ethical behavior.

The Company's operations are subject to various federal, state, provincial (Canada) and local laws and regulations generally applicable to businesses operating in the United States and Canada.

The Company experiences competition in pricing, service, reliability and other factors from various transportation providers including railroads and motor carriers that operate similar routes across its service area and, to a less significant extent, barges, ships and pipelines.

A decline or disruption in general domestic and global economic conditions that affects demand for the commodities and products the Company transports, including import and export volume, could reduce revenues or have other adverse effects on the Company's cost structure and profitability.