Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | Period [Axis] |
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2015-12-26 - 2016-12-30 |
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Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Summary of Participants | In order to perform this valuation, the actuaries are provided with the details of the population covered at the beginning of the year, summarized in the table below, and projects that population forward to the end of the year. | | | | | | | | Summary of Participants as of | | January 1, 2016 | | Pension Plans | | Post-retirement Medical Plan | Active Employees | 4,823 |
| | 1,139 |
| Retirees and Beneficiaries | 12,018 |
| | 11,893 |
| Other(a) | 3,853 |
| | 54 |
| Total | 20,694 |
| | 13,086 |
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(a) For pension plans, the other category consists mostly of terminated but vested former employees. For post-retirement plans, the other category consists of employees on long-term disability that have not yet retired. |
Schedule of Future Expected Benefit Payments | Future expected benefit payments are as follows: | | | | | | | | | | Expected Cash Flows | (Dollars in Millions) | Pension Benefits | | Post-retirement Benefits | 2017 | $ | 183 |
| | $ | 39 |
| 2018 | 185 |
| | 28 |
| 2019 | 184 |
| | 26 |
| 2020 | 182 |
| | 24 |
| 2021 | 182 |
| | 22 |
| 2022-2026 | 904 |
| | 86 |
| Total | $ | 1,820 |
| | $ | 225 |
|
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Schedule of Allocation of Plan Assets | The distribution of pension plan assets as of the measurement date is shown in the table below, and these assets are netted against the pension liabilities on the balance sheet. | | | | | | | | | | | | | | | | December 2016 | | December 2015 | | | | Percent of | | | | Percent of | (Dollars in Millions) | Amount | | Total Assets | | Amount | | Total Assets | Equity | $ | 1,806 |
| | 71 | % | | $ | 1,626 |
| | 70 | % | Fixed Income | 665 |
| | 26 |
| | 641 |
| | 28 |
| Cash and Cash Equivalents | 68 |
| | 3 |
| | 42 |
| | 2 |
| Total | $ | 2,539 |
| | 100 | % | | $ | 2,309 |
| | 100 | % |
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Schedule of Changes in Benefit Obligation and Fair Value of Plan Assets | Changes in benefit obligation and the fair value of plan assets for the 2016 and 2015 calendar plan years are as follows:
| | | | | | | | | | | | | | | | | | Pension Benefits | | Post-retirement Benefits | | Plan Year | | Plan Year | | Plan Year | | Plan Year | (Dollars in Millions) | 2016 | | 2015 | | 2016 | | 2015 | Actuarial Present Value of Benefit Obligation | | | | | | | | Accumulated Benefit Obligation | $ | 2,717 |
| | $ | 2,672 |
| | N/A |
| | N/A |
| Projected Benefit Obligation | 2,871 |
| | 2,860 |
| | $ | 274 |
| | $ | 314 |
| | | | | | | | | Change in Projected Benefit Obligation: | |
| | |
| | |
| | |
| Projected Benefit Obligation at Beginning of Plan Year | $ | 2,860 |
| | $ | 3,002 |
| | $ | 314 |
| | $ | 340 |
| Service Cost | 48 |
| | 45 |
| | 2 |
| | 2 |
| Interest Cost | 119 |
| | 116 |
| | 12 |
| | 12 |
| Plan Participants' Contributions | — |
| | — |
| | 6 |
| | 7 |
| Workforce Reduction Program/Curtailment | — |
| | 7 |
| | — |
| | — |
| Actuarial Loss (Gain) | 20 |
| | (110 | ) | | (22 | ) | | (7 | ) | Benefits Paid | (176 | ) | | (200 | ) | | (38 | ) | | (40 | ) | Benefit Obligation at End of Plan Year | $ | 2,871 |
| | $ | 2,860 |
| | $ | 274 |
| | $ | 314 |
| | | | | | | | | Change in Plan Assets: | |
| | |
| | |
| | |
| Fair Value of Plan Assets at Beginning of Plan Year | $ | 2,309 |
| | $ | 2,504 |
| | $ | — |
| | $ | — |
| Actual Return on Plan Assets | 139 |
| | (9 | ) | | — |
| | — |
| Qualified Employer Contributions | 250 |
| | — |
| | — |
| | — |
| Non-qualified Employer Contributions | 17 |
| | 14 |
| | 32 |
| | 33 |
| Plan Participants' Contributions | — |
| | — |
| | 6 |
| | 7 |
| Benefits Paid | (176 | ) | | (200 | ) | | (38 | ) | | (40 | ) | Fair Value of Plan Assets at End of Plan Year | 2,539 |
| | 2,309 |
| | — |
| | — |
| Funded Status at End of Plan Year | $ | (332 | ) | | $ | (551 | ) | | $ | (274 | ) | | $ | (314 | ) |
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Schedule of Amount Recognized in Balance Sheet | Amounts related to pension and post-retirement benefits recorded in other long-term assets, labor and fringe benefits payable and other long-term liabilities on the balance sheet are as follows:
| | | | | | | | | | | | | | | | | | Pension Benefits | | Post-retirement Benefits | | December | | December | | December | | December | (Dollars in Millions) | 2016 | | 2015 | | 2016 | | 2015 | Amounts Recorded in Consolidated | | | | | | | | Balance Sheets: | | | | | | | | Long-term Assets (a) | $ | 9 |
| | $ | 9 |
| | $ | — |
| | $ | — |
| Current Liabilities | (15 | ) | | (15 | ) | | (39 | ) | | (36 | ) | Long-term Liabilities | (326 | ) | | (545 | ) | | (235 | ) | | (278 | ) | Net Amount Recognized in | |
| | |
| | |
| | |
| Consolidated Balance Sheets | $ | (332 | ) | | $ | (551 | ) | | $ | (274 | ) | | $ | (314 | ) |
| | (a) | Long-term assets as of December 2016 and 2015 relate to one of the qualified pension plans whose assets exceed projected benefit obligations. |
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Benefit Obligations in Excess of Plan Assets | At December 2016, the status of CSX plans only with a net liability is disclosed below. The total fair value of all plans as of December 2016 was $2.5 billion, which includes the qualified pension plans with net assets.
| | | | | | | | | Aggregate | | (Dollars in Millions) | Fair Value | Aggregate | Benefit Obligations in Excess of Plan Assets | of Plan Assets | Benefit Obligation | Projected Benefit Obligation | $ | 2,506 |
| $ | (2,847 | ) | Accumulated Benefit Obligation | 2,506 |
| (2,692 | ) |
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Schedule of Net Benefit Expense | The following table describes the components of expense/(income) related to net benefit expense recorded in labor and fringe on the income statement. | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits Fiscal Years | | Post-retirement Benefits Fiscal Years | (Dollars in Millions) | 2016 | | 2015 | | 2014 | | 2016 | | 2015 | | 2014 | Service Cost | $ | 48 |
| | $ | 45 |
| | $ | 44 |
| | $ | 2 |
| | $ | 2 |
| | $ | 3 |
| Interest Cost | 119 |
| | 116 |
| | 123 |
| | 12 |
| | 12 |
| | 13 |
| Expected Return on Plan Assets | (157 | ) | | (162 | ) | | (166 | ) | | — |
| | — |
| | — |
| Amortization of Net Loss | 48 |
| | 70 |
| | 57 |
| | 3 |
| | 4 |
| | 5 |
| Amortization of Prior Service Cost | — |
| | — |
| | — |
| | — |
| | (1 | ) | | (1 | ) | Net Periodic Benefit Expense | 58 |
| | 69 |
| | 58 |
| | 17 |
| | 17 |
| | 20 |
| Special Termination Benefits - Workforce Reduction Program/Curtailment(a) | — |
| | 7 |
| | 27 |
| | — |
| | — |
| | 8 |
| Settlement Gain(b) | (1 | ) | | (2 | ) | | (1 | ) | | — |
| | — |
| | — |
| Total Expense | $ | 57 |
| | $ | 74 |
| | $ | 84 |
| | $ | 17 |
| | $ | 17 |
| | $ | 28 |
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| | (a) | Special termination benefits are charges in 2015 and 2014 that resulted from a management workforce reduction program initiated in 2014. For further information regarding the program, see Note 1. Nature of Operations and Significant Accounting Policies. |
| | (b) | Settlement gains were recognized as one of the pension plan's lump-sum payments to retirees with insignificant balances exceeded the sum of the service cost and interest cost recognized. The gain is the recognition of a portion of its accumulated other comprehensive income related to that plan |
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Schedule of Pre-tax Change in Other Comprehensive Loss (Income) | The following table shows the pre-tax change in other comprehensive loss (income) attributable to the components of net expense and the change in benefit obligation for CSX for pension and other post-employment benefits. | | | | | | | | | | | | | | | | | (Dollars in Millions) | Pension Benefits | | Post-retirement Benefits | Components of Other Comprehensive | December | | December | | December | | December | Loss (Income) | 2016 | | 2015 | | 2016 | | 2015 | Recognized in the balance sheet | | | | | | | | Losses (Gains) | $ | 38 |
| | $ | 60 |
| | $ | (22 | ) | | $ | (7 | ) | Expense (Income) recognized in the income statement | |
| | |
| | |
| | |
| Amortization of net losses (a) | $ | 48 |
| | $ | 70 |
| | $ | 3 |
| | $ | 4 |
| Settlement gain | (1 | ) | | (2 | ) | | — |
| | — |
| Amortization of prior service costs | — |
| | — |
| | — |
| | (1 | ) |
| | (a) | Amortization of net losses estimated to be expensed for 2017 is approximately $43 million for pension benefits. |
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Schedule of Pre-tax Amounts to be Amortized that are Included in Accumulated Other Comprehensive Loss | As of December 2016, the balances of pre-tax amounts to be amortized that are included in accumulated other comprehensive loss (a component of shareholders’ equity) are as follows: | | | | | | | | | | Pension Benefits | | Post-retirement Benefits | Losses | $ | 891 |
| | $ | 24 |
| Prior Service Costs (Credits) | — |
| | — |
| Total | $ | 891 |
| | $ | 24 |
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Schedule of Weighted-Average Assumptions Used | eighted averages of assumptions used by the Company to value its pension and post-retirement obligations were as follows:
| | | | | | | | | | | | | | Pension Benefits | | Post-retirement Benefits | | 2016 | | 2015 | | 2016 | | 2015 | Expected Long-term Return on Plan Assets: | | | | | | | | Benefit Cost for Current Plan Year | 7.00 | % | | 7.25 | % | | N/A |
| | N/A |
| Benefit Cost for Subsequent Plan Year | 6.75 | % | | 7.00 | % | | N/A |
| | N/A |
| | | | | | | | | Discount Rates: | | | | | | | | Benefit Cost for Plan Year | 4.30 | % | | 4.00 | % | | 3.85 | % | | 3.60 | % | Benefit Obligation at End of Plan Year | 4.08 | % | (a) | 4.30 | % | | 3.71 | % | | 3.85 | % | | | | | | | | | Salary Scale Inflation | 4.60 | % | | 4.60 | % | | N/A |
| | N/A |
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