诺福克南方 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ___________ to___________ Commission File Number: 1-8339 NORFOLK SOUTHERN CORPORATION(Exact name of registrant as specified in its charter) 52-1188014 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) (855) 667-3655 (Registrant’s telephone number, including area code) No change (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registeredNorfolk Southern Corporation Common Stock (Par Value $1.00)NSCNew York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company.See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Outstanding at June 30, 2026224,608,373(excluding 20,320,777 shares held by the registrant’sconsolidated subsidiaries) Common Stock ($1.00 par value per share) TABLE OF CONTENTS NORFOLK SOUTHERN CORPORATION AND SUBSIDIARIES Item 1.Financial Statements:Consolidated Statements of IncomeSecond Quarter and First Six Months of 2026 and 20253Consolidated Statements of Comprehensive IncomeSecond Quarter and First Six Months of 2026 and 20254Consolidated Balance SheetsAt June 30, 2026 and December 31, 20255Consolidated Statements of Cash FlowsFirst Six Months of 2026 and 20256Consolidated Statements of Changes in Stockholders’ EquitySecond Quarter and First Six Months of 2026 and 20257Notes to Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk35Item 4.Controls and Procedures35 Part II.Other Information: Item 1.Legal Proceedings36Item 1A.Risk Factors36Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of EquitySecurities36Item 3.Defaults Upon Senior Securities36Item 4.Mine Safety Disclosures36Item 5.Other Information36Item 6.Exhibits37 Signatures Norfolk Southern Corporation and SubsidiariesConsolidated Statements of Comprehensive Income(Unaudited) Second QuarterFirst Six Months $734$768$1,281$1,518 Other comprehensive income (loss), net of tax(1)—(2)1 See accompanying notes toconsolidatedfinancialstatements.4 Norfolk Southern Corporation and SubsidiariesConsolidated Balance Sheets(Unaudited) Assets InvestmentsProperties less accumulated depreciation of $15,031and $14,617, respectivelyOther assets Total assets Liabilities and stockholders’ equityCurrent liabilities:Accounts payableIncome and other taxesOther current liabilitiesCurrent maturities of long-term debtTotal current liabilities Long-term debtOther liabilitiesDeferred income taxes Total liabilities Stockholders’ equity:Common stock $1.00 per share par value, 1,350,000,000 sharesauthorized; outstanding 224,608,373 and 224,420,699 shares,respectively, net of treasury sharesAdditional paid-in capitalAccumulated other comprehensive lossRetained income Norfolk Southern Corporation and SubsidiariesConsolidated Statements of Cash Flows(Unaudited) At end of period Cash paid during the period for:Interest (net of amounts capitalized)Income taxes (net of refunds) Norfolk Southern Corporation and