Neha Patil (Editor)

CSX Corporation

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Type
  
Public

Area served
  
North America

Founded
  
1980

CSX Corporation

Traded as
  
NASDAQ: CSXDJTA ComponentS&P 500 Component

Industry
  
Transport, real estate, technology

Headquarters
  
CSX Transportation Building500 Water StreetJacksonville, Florida, U.S.

CSX Corporation is an American holding company focused on real estate and railways in North America, among other industries. The company was formed in 1980 by the merger of Chessie System and Seaboard Coast Line Industries and eventually merged the various railroads owned by those predecessors into a single line that became known as CSX Transportation. CSX Corporation currently has a number of subsidiaries beyond CSX Transportation, including Fruit Growers Express, CSX Technology, CSX de Mexico, and CSX Real Property among others. Based in Richmond, Virginia, USA after the merger, in 2003 the CSX Corporation headquarters moved to Jacksonville, Florida. The chairman and CEO since 2003 is Michael J. Ward, while Clarence Gooden serves as president.

Contents

Current subsidiary companies

  • CSX Transportation, Inc.
  • CSX Intermodal Terminals, Inc.
  • CSX Real Property, Inc.
  • CSX Technology, Inc.
  • Chessie Computer Service, Inc
  • Cybernetics & Services, Inc.
  • Total Distribution Services, Inc.
  • TRANSFLO Corporation
  • Fruit Growers Express
  • CSX de Mexico
  • Consolidated Rail Corporation (CONRAIL) (Shares ownership with Norfolk Southern)
  • Winston-Salem Southbound Railway (Shares ownership with Norfolk Southern)
  • Powerhouse Logistics

    • Divestitures and discontinued operations

  • CSX Hotels, Inc.
  • Greenbrier Hotel Corporation sold to Justice Family Group in 2009
  • Sea-Land Corporation split into two shipping lines and a terminal operator:
  • CSX Lines, LLC (Domestic liner, sold and renamed Horizon Lines, Inc.)
  • Sea-Land Corporation (International liner, sold to the A. P. Moller-Maersk Group in 1999)
  • CSX World Terminals, LLC (International Terminals business)
  • SL Services, Inc. (“SLSI”) sold to Dubai Ports International FZE (“DPI”) in 2005
  • Orange Blossom Investment Company, Ltd sold to Dubai Ports International FZE (“DPI”) in 2005
  • CSA Acquisition Corp.
  • Texas Gas Transmission Corporation bought in 1983, sold in 1988 to Transco.
  • Energy and utilities

    • Staff and management

    The founding chairman of CSX Corporation was Prime F. Osborn III of Seaboard, and the first CEO and second chairman was Hays T. Watkins Jr. of Chessie. Watkins was succeeded by John W. Snow as CEO in 1989 and as chairman in 1991. When Snow left the company in 2003 to become United States Secretary of the Treasury, Michael J. Ward, who then headed CSX Transportation, was promoted to succeed him. Overall in 2003, Ward took on the positions of chairman, president, and CEO. When president Oscar Munoz left CSX in September 2015 after obtaining the role earlier that year from Ward, the company underwent several management changes, with Clarence Gooden appointed president. As of 2015, the twelve-member CSX board of directors includes Ward and politicians such as Senator John B. Breaux.

    The following is a complete list of CSX chief executives as of November 2015:

    Finances

    CSX Corporation's total equity was estimated at USD $9.136 billion in 2012, and that rose the following year to $10.504 billion. The value of the company's assets rose from $30.723 billion in 2012 to $31.782 billion in 2013. Total revenue equaled USD $12.026 billion in 2013, an increase from $11.763 billion the year before. Operating income was $3.464 billion in 2012 and $3.473 billion in 2013, while net income equaled $1.863 billion in 2012 and $1.864 billion in 2013. In 2014, annual net income again equaled around $1.86 billion.

    References

    CSX Corporation Wikipedia
    (Text) CC BY-SA


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