On the Record · CSX
CSX acquisitions, on the record
The businesses CSX bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Pan Am Systems, Inc. (parent of Pan Am Railways, Inc.)Word for word“Completed Transactions Acquisition of Pan Am Systems, Inc. On June 1, 2022, CSX completed its acquisition of Pan Am.” 10-K for 2023 | acquisition | June 1, 2022 | — |
Quality Carriers, Inc.Word for word“On July 1, 2021, the Company completed its acquisition of Quality Carriers, the largest provider of bulk liquid chemicals truck transportation in North America, for $ 544 million in cash, which is presented on the statement of cash flows net of $ 3 million cash acquired.” 10-K for 2023 | acquisition | July 1, 2021 | — |
Pan Am Systems, Inc.Word for word“On June 1, 2022, CSX completed its acquisition of Pan Am Systems, Inc. (“Pan Am”), which is the parent company of Pan Am Railways, Inc. who jointly owns Pan Am Southern, LLC with a subsidiary of Norfolk Southern Corporation.” 10-K for 2024 | acquisition | June 1, 2022 | — |
Chessie System and Seaboard Coast Line IndustriesWord for word“In 1980, the Company completed the merger of the Chessie System and Seaboard Coast Line Industries into CSX.” 10-K for 2024 | merger | 1980 | — |
Conrail, Inc.Word for word“Later, the Company’s acquisition of key portions of Conrail, Inc. ("Conrail") allowed CSXT to link the northeast, including New England and the New York metropolitan area, with Chicago and midwestern markets as well as the growing areas in the Southeast already served by CSXT.” 10-K for 2024 | acquisition | — | — |
Quality Carriers previous independent affiliates (several immaterial acquisitions)Word for word“During 2024, 2023 and 2022, Quality Carriers completed several acquisitions of previous independent affiliates that were immaterial individually and in the aggregate.” 10-K for 2024 | acquisition | During 2024, 2023 and 2022 | — |
several trucking businesses acquired by Quality CarriersWord for word“During 2025 and 2024 the Company's trucking operating segment, which is solely comprised of Quality Carriers, completed several acquisitions that were immaterial individually and in aggregate.” 10-K for 2025 | acquisition | During 2025 and 2024 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2019-12-31 | $0 | — |
| 2020-12-31 | $0 | $0 |
| 2021-12-31 | $541 million | $213 million |
| 2022-12-31 | $227 million | $43 million |
| 2023-12-31 | $31 million | $6 million |
| 2024-12-31 | $70 million | $22 million |
| 2025-12-31 | $16 million | $5 million |
Deal filings since 2016
- 2025-10-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-03-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-09-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-09-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-07-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-12-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-03-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-10-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-09-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-04-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-02-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-11-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-02-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-05-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-04-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-03-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-10-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from CSX’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-12. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.