Payable balance

CSX CORPORATION  
PART IIItem 8. Financial Statements and Supplementary DataNOTE 15.  Investment in Affiliates and Related-Party Transactions, continued  
The following table discloses amounts related to Conrail. All amounts in the table below are included in purchased services and other expenses on the Company’s consolidated income statements.   


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|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Fiscal Years  |
| (Dollars in Millions) | 2021 |  | 2020 |  | 2019 |
|  |  |  |  |  |  |
| Rents, fees and services | $ | 128  |  |  | $ | 126  |  |  | $ | 119  |  |
| Purchase price amortization and other | 4  |  |  | 4  |  |  | 4  |  |
| Equity earnings of Conrail | (44) |  |  | (49) |  |  | (42) |  |
| Total Conrail Expense | $ | 88  |  |  | $ | 81  |  |  | $ | 81  |  |

  
As required by the Related Party Disclosures Topic in the ASC, the Company has disclosed amounts below owed to Conrail, or its subsidiaries, representing liabilities under the operating, equipment and shared area agreements with Conrail. In 2014, the Company executed two promissory notes with a subsidiary of Conrail which were included in long-term debt on the consolidated balance sheets. In December 2020, the Company completed a non-cash conversion of its existing payable balance of approximately $217 million and $224 million, 2.89% notes due 2044 into new notes. The new notes for operation of the shared asset area are $441 million, 1.31% notes due 2050. Interest expense from these promissory notes was $6 million in each 2021, 2020 and 2019.  


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|  |  |  |  |  |  |  |  |  |  |  |  |
|   | December |  | December |
| (Dollars in Millions) | 2021 |  | 2020 |
| Balance Sheet Information: |   |  |   |
| CSX accounts payable to Conrail | $ | 100  |  |  | $ | 50  |  |
| Promissory notes payable to Conrail subsidiary |   |  |   |
| 1.31% CSX Promissory Note due December 2050 | 73  |  |  | 73  |  |
| 1.31% CSXT Promissory Note due December 2050  | 368  |  |  | 368  |  |
|  |  |  |  |
|  |  |  |  |

  
TTX Company    TTX Company ("TTX") is a privately-held corporation engaged in the business of providing its owner-railroads with standardized fleets of intermodal, automotive and general use railcars at time and mileage rates. CSX owns about 20 percent of TTX's common stock, and the remaining is owned by the other leading North American railroads and their affiliates. Pursuant to the Investments-Equity Method topic in the ASC, CSX applies the equity method of accounting to its investment in TTX.  
CSX 2021 Form 10-K p.103
