Full Description

CSX Corporation (CSX), incorporated in November 1978, is a transportation company. The Company operates in two segments: rail and intermodal. The Company’s rail and intermodal businesses provide rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers. CSX’s principal operating company, CSX Transportation, Inc. (CSXT), provides a link to the transportation supply chain through its approximately 21,000 route mile rail network, which serves centers in 23 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec.

CSXT serves 70 ocean, river and lake ports along the Atlantic and Gulf Coasts, the Mississippi River, the Great Lakes and the St. Lawrence Seaway. CSXT also serves thousands of production and distribution facilities through track connections to more than 230 short-line and regional railroads. In addition to CSXT, the rail segment includes Total Distribution Services, Inc. (TDSI), Transflo Terminal Services, Inc. (Transflo), CSX Technology, Inc. (CSX Technology) and other subsidiaries. TDSI serves the automotive industry with distribution centers and storage locations, while Transflo provides logistical solutions for transferring products from rail to trucks. Technology and other support services are provided by CSX Technology and other subsidiaries.

CSX Intermodal, Inc. (Intermodal) is a coast-to-coast intermodal transportation provider. Intermodal is an integrated intermodal company linking customers to railroads through trucks and terminals. Containers and trailers are loaded and unloaded from trains, and trucks provide the link between intermodal terminals and the customer. CSX’s other holdings include CSX Real Property, Inc., a subsidiary responsible for the Company’s real estate sales, leasing, acquisition and management and development activities, and the Greenbrier Hotel Corporation, a resort doing business as The Greenbrier.

The rail and intermodal segments serve four primary lines of business: merchandise business, coal, automotive and intermodal. The merchandise business consists of 2.5 million carloads per year of aggregates, which include crushed stone, sand and gravel, metal, phosphate, fertilizer, food, consumer, agricultural, paper and chemical products. During the year ended December 26, 2008 (fiscal 2008), the merchandise business generated approximately 49% of the Company’s revenue and 37% of volume. Coal, which delivered approximately 1.9 million carloads of coal, coke and iron ore to electricity generating power plants, ocean, river and lake piers and terminals, steel makers and industrial plants, accounted for approximately 29% of the Company’s revenue, during fiscal 2008, and 28% of volume.

Automotive, which delivers finished vehicles and auto parts, generated approximately 7% of the Company’s revenue and 5% of the Company’s volume, during fiscal 2008. Through its network of more than 50 terminals, Intermodal serves all major markets east of the Mississippi River and transports mainly manufactured consumer goods in containers, providing customers with truck-like service for longer shipments. During fiscal 2008, Intermodal accounted for approximately 13% of the Company’s total revenue and 30% of volume. Other revenue, which includes revenue from regional railroads, demurrage, switching and other incidental charges, accounted for 2% of the Company’s total revenue, during fiscal 2008.

The Company competes with Norfolk Southern Railway.