CSX Corp., current enterprise value calculation

Current share price (P)	$30.81
No. shares of common stock outstanding	2,033,054,922
US$ in millions
Common equity (market value)¹	62,638)
Add: Non-controlling minority interest (per books)	10)
Total equity	62,648)
Add: Current maturities of long-term debt (per books)	151)
Add: Long-term debt, excluding current portion (per books)	17,896)
Total equity and debt	80,695)
Less: Cash and cash equivalents	1,958)
Less: Short-term investments	129)
Enterprise value (EV)	78,608)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 30.81 × 2,033,054,922

CSX Corp., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$31.67	$35.17	$29.39	$26.50	$22.70
No. shares of common stock outstanding¹	2,062,605,434	2,193,389,444	2,287,515,174	2,321,476,695	2,446,891,098
US$ in millions
Common equity (market value)³	65,323)	77,142)	67,230)	61,519)	55,544)
Add: Non-controlling minority interest (book value)	10)	10)	9)	15)	17)
Total equity	65,333)	77,152)	67,239)	61,534)	55,561)
Add: Current maturities of long-term debt (book value)	151)	181)	401)	245)	18)
Add: Long-term debt, excluding current portion (book value)	17,896)	16,185)	16,304)	15,993)	14,739)
Total equity and debt	83,380)	93,518)	83,944)	77,772)	70,318)
Less: Cash and cash equivalents	1,958)	2,239)	3,129)	958)	858)
Less: Short-term investments	129)	77)	2)	996)	253)
Enterprise value (EV)	81,293)	91,202)	80,813)	75,818)	69,207)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of CSX Corp. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 31.67 × 2,062,605,434

CSX Corp. (NASDAQ:CSX)

Enterprise Value (EV)