Norfolk Southern Corporation (NSC)

Solvency & Capital Structure

Total Debt

$16.62B

Net Debt

$15.55B

Norfolk Southern Corporation currently has $16.62B in total debt. Net debt is $15.55B after cash offsets.

Financial Fundamentals

NSC • Quarterly Data • 5Y View

Date	Total Debt ($B)	Cash & Inv. ($B)	Net Debt ($B)	Total Assets	Debt/Assets
2026-06-30	16.62	1.07	15.55	45.12	36.8%
2026-03-31	17.10	1.34	15.76	45.11	37.9%
2025-12-31	17.09	1.53	15.56	45.24	37.8%
2025-09-30	17.08	1.42	15.66	44.58	38.3%
2025-06-30	17.37	1.30	16.06	44.16	39.3%
2025-03-31	17.21	1.01	16.21	43.80	39.3%
2024-12-31	17.48	1.64	15.84	43.68	40.0%
2024-09-30	17.20	0.97	16.22	43.26	39.8%
2024-06-30	17.59	0.66	16.93	42.56	41.3%
2024-03-31	17.58	0.65	16.93	42.13	41.7%
2023-12-31	17.57	1.57	16.00	41.65	42.2%
2023-09-30	16.58	1.51	15.08	40.74	40.7%
2023-06-30	15.13	0.56	14.57	39.26	38.5%
2023-03-31	14.99	0.55	14.44	39.17	38.3%
2022-12-31	15.59	0.46	15.14	38.88	40.1%
2022-09-30	15.07	1.21	13.85	39.31	38.3%
2022-06-30	15.05	1.26	13.79	39.34	38.3%
2022-03-31	14.84	1.57	13.27	39.36	37.7%
2021-12-31	14.25	0.84	13.41	38.49	37.0%
2021-09-30	13.83	1.47	12.37	38.60	35.8%
2021-06-30	13.72	1.67	12.05	38.75	35.4%
2021-03-31	12.62	1.00	11.62	37.94	33.3%
2020-12-31	13.11	1.11	12.00	37.96	34.5%
2020-09-30	12.72	1.36	11.36	38.18	33.3%
2020-06-30	12.70	1.14	11.55	37.96	33.4%
2020-03-31	12.21	0.61	11.60	37.44	32.6%
2019-12-31	12.73	0.58	12.15	37.92	33.6%
2019-09-30	11.84	0.45	11.38	37.50	31.6%
2019-06-30	11.48	0.27	11.20	37.17	30.9%
2019-03-31	11.40	0.41	10.99	37.06	30.8%
2018-12-31	11.14	0.36	10.79	36.24	30.8%
2018-09-30	11.13	0.73	10.41	36.32	30.7%
2018-06-30	9.65	0.43	9.22	35.79	27.0%
2018-03-31	10.29	1.07	9.21	36.16	28.4%
2017-12-31	9.84	0.69	9.15	35.71	27.5%
2017-09-30	9.88	0.72	9.16	35.15	28.1%
2017-06-30	9.87	0.64	9.23	34.92	28.3%
2017-03-31	10.12	0.95	9.16	35.15	28.8%
2016-12-31	10.21	0.96	9.26	34.89	29.3%
2016-09-30	10.11	0.98	9.12	34.63	29.2%
2016-06-30	10.10	0.87	9.23	34.33	29.4%
2016-03-31	9.50	0.59	8.91	33.78	28.1%
2015-12-31	10.09	1.10	8.99	34.26	29.5%
2015-09-30	9.50	0.43	9.06	33.53	28.3%
2015-06-30	9.39	0.89	8.50	33.31	28.2%
2015-03-31	8.93	0.52	8.41	32.77	27.2%
2014-12-31	9.03	0.97	8.05	33.24	27.2%
2014-09-30	8.92	1.43	7.49	33.21	26.9%
2014-06-30	9.25	1.67	7.58	33.04	28.0%
2014-03-31	9.35	1.53	7.82	32.70	28.6%
2013-12-31	9.45	1.56	7.89	32.48	29.1%
2013-09-30	8.95	1.00	7.94	31.36	28.5%
2013-06-30	8.48	0.59	7.89	30.61	27.7%
2013-03-31	8.48	0.69	7.80	30.60	27.7%
2012-12-31	8.68	0.67	8.01	30.34	28.6%
2012-09-30	8.48	0.71	7.77	29.84	28.4%
2012-06-30	8.00	0.37	7.63	29.19	27.4%
2012-03-31	8.02	0.83	7.19	29.38	27.3%
2011-12-31	7.54	0.30	7.24	28.54	26.4%
2011-09-30	6.84	0.39	6.44	28.31	24.1%
2011-06-30	6.99	0.91	6.08	28.48	24.5%
2011-03-31	6.62	0.49	6.13	27.73	23.9%
2010-12-31	7.03	1.11	5.92	28.20	24.9%
2010-09-30	6.93	1.36	5.58	28.06	24.7%
2010-06-30	6.69	1.06	5.63	27.63	24.2%
2010-03-31	7.03	1.39	5.64	27.73	25.3%
2009-12-31	7.15	1.09	6.07	27.37	26.1%
2009-09-30	7.07	1.00	6.07	27.07	26.1%
2009-06-30	7.08	0.72	6.36	26.63	26.6%
2009-03-31	6.93	0.88	6.05	26.55	26.1%
2008-12-31	6.67	0.62	6.05	26.30	25.4%
2008-09-30	6.47	0.56	5.91	26.72	24.2%
2008-06-30	6.49	0.45	6.04	26.41	24.6%
2008-03-31	6.49	0.36	6.13	26.46	24.5%
2007-12-31	6.37	0.21	6.16	26.14	24.4%
2007-09-30	6.15	0.42	5.73	25.96	23.7%
2007-06-30	6.16	0.49	5.67	25.93	23.8%
2007-03-31	6.53	0.84	5.69	26.03	25.1%
2006-12-31	6.60	0.92	5.68	26.03	25.4%
2006-09-30	6.63	0.80	5.82	25.98	25.5%
2006-06-30	6.87	1.53	5.33	26.56	25.8%
2006-03-31	6.90	1.54	5.36	26.24	26.3%
2005-12-31	6.93	1.26	5.67	25.86	26.8%
2005-09-30	6.96	1.05	5.91	25.43	27.4%
2005-06-30	6.99	0.61	6.38	24.91	28.1%
2005-03-31	7.68	1.12	6.56	25.49	30.1%
2004-12-31	7.53	0.67	6.86	24.75	30.4%
2004-09-30	7.55	0.53	7.02	24.43	30.9%
2004-06-30	6.85	0.20	6.64	20.83	32.9%
2004-03-31	6.88	0.11	6.77	20.59	33.4%
2003-12-31	7.16	0.28	6.88	20.60	34.8%
2003-09-30	7.19	0.16	7.03	20.56	35.0%
2003-06-30	7.46	0.11	7.35	20.54	36.3%
2003-03-31	7.49	0.13	7.36	20.43	36.6%
2002-12-31	7.36	0.18	7.18	19.96	36.9%
2002-09-30	7.38	0.13	7.25	19.79	37.3%
2002-06-30	7.44	0.09	7.35	19.52	38.1%
2002-03-31	7.66	0.16	7.49	19.64	39.0%
2001-12-31	7.63	0.20	7.43	19.42	39.3%
2001-09-30	7.67	0.13	7.53	19.39	39.6%
2001-06-30	7.70	0.05	7.65	19.24	40.0%
2001-03-31	7.84	0.06	7.79	19.24	40.8%
2000-12-31	7.64	0.00	7.63	18.98	40.2%
2000-09-30	7.65	0.15	7.50	19.09	40.1%
2000-06-30	7.70	0.05	7.65	18.88	40.8%
2000-03-31	8.00	0.07	7.92	19.21	41.6%
1999-12-31	8.06	0.05	8.01	19.25	41.9%
1999-09-30	7.98	0.06	7.93	19.12	41.8%
1999-06-30	7.96	0.12	7.84	18.87	42.2%
1999-03-31	7.81	0.10	7.70	18.48	42.2%
1998-12-31	7.62	0.06	7.56	18.18	41.9%
1998-09-30	7.58	0.19	7.38	18.02	42.0%
1998-06-30	7.60	0.18	7.42	17.75	42.8%
1998-03-31	7.52	0.29	7.23	17.65	42.6%
1997-12-31	7.49	0.16	7.33	17.35	43.1%
1997-09-30	7.55	0.19	7.36	17.51	43.1%
1997-06-30	7.58	0.28	7.30	17.40	43.6%
1997-03-31	2.93	0.33	2.60	12.43	23.5%
1996-12-31	1.90	0.40	1.50	11.42	16.6%
1996-09-30	1.94	0.36	1.57	11.26	17.2%