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Norfolk Southern Third Quarter 2025 Financial Report

27 Oct 2025

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The provided text is an excerpt from a Form 10-Q Quarterly Report filed by Norfolk Southern Corporation with the United States Securities and Exchange Commission for the period ended September 30, 2025. This document provides a detailed overview of the company's financial performance and condition, including consolidated statements of income, balance sheets, and cash flows for 2025 and 2024. Significantly, the report discloses a pending Merger Agreement with Union Pacific Corporation to create a transcontinental railroad, subject to shareholder and Surface Transportation Board approval. Furthermore, the filing addresses the substantial financial and legal impact of the Eastern Ohio Incident, outlining associated costs, insurance recoveries, and ongoing legal proceedings, including class action settlements and governmental consent decrees. The report also includes details on railway operating expenses, revenues by commodity group, and various financial commitments and contingencies, such as labor agreements and risk factors related to the pending merger.

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