NSC on NYSE
Norfolk Southern Corporation
Norfolk Southern Corporation is a holding company formed in 1982 for Norfolk and Western Railway and Southern Railway.1 Its chief executive is Alan H. Shaw (since 2013).1 Its revenue was $12.7 billion in 2022.1 Its shares trade on NYSE under the symbol NSC.1
$326.30 up 1.47 (0.45%)Price as of Oct 16, 2026 at 19:58 UTC
Last updated Oct 21, 2026.
Overview
Compare with CSX Corporation, Union Pacific Corporation or Kansas City Southern, or pick any stock.
- TickerNSC on NYSE1
- IndustryRailroads, Line-Haul Operating1
- HeadquartersNorfolk1
- Websitewww.norfolksouthern.com
- Incorporated inVA5
- Business address650 W Peachtree Street Nw, Atlanta, Ga 303085
- Filer categoryLarge accelerated filer5
- Legal formStock Corporation3
- LEI54930036C8MWP850MI843
- StatusActive3
- LEI statusLapsed (not renewed)3
- Registered addressC/O CORPORATION SERVICE COMPANY, 23219 Richmond, United States3
- Registered withState Corporation Commission, 020802813
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Railway Operating Revenues Market Group Merchandise brought in 63% of the revenue Norfolk Southern Corporation broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Railway Operating Revenues Market Group Merchandise | $7.4B | $7.5B | $7.7B |
| Railway Operating Revenues Market Group Intermodal | $3.1B | $3.0B | $3.0B |
| Railway Operating Revenues Market Group Coal | $1.7B | $1.6B | $1.5B |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs70¢$8.5B
- Income tax7¢$792.0M
- Profit24¢$2.9B
Out of $12.2B in revenue.7
Where each dollar of operating cash went, fiscal 2025
- Capital spending51¢$2.2B
- Dividends paid28¢$1.2B
- Share buybacks12¢$534.0M
- Kept or used elsewhere9¢$408.0M
Out of $4.4B of cash from operations.7
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Railway operating revenues | $12.2B | $12.1B | $12.2B |
| Compensation and benefits | $2.9B | $2.8B | $2.8B |
| Purchased services and rents | $2.1B | $2.0B | $2.1B |
| Fuel | $932.0M | $987.0M | $1.2B |
| Depreciation | $1.4B | $1.4B | $1.3B |
| Materials and other | $634.0M | $333.0M | $832.0M |
| Merger-related expenses | $80.0M | $0 | $0 |
| Restructuring and other charges | $22.0M | $183.0M | $0 |
| Eastern Ohio incident | -$254.0M | ||
| Eastern Ohio incident | $325.0M | $1.1B | |
| Total railway operating expenses | $7.8B | $8.1B | $9.3B |
| Income from railway operations | $4.4B | $4.1B | $2.9B |
| Other income net | $101.0M | $65.0M | $191.0M |
| Interest expense on debt | $792.0M | $807.0M | $722.0M |
| Income before income taxes | $3.7B | $3.3B | $2.3B |
| Income taxes | $792.0M | $707.0M | $493.0M |
| Net income | $2.9B | $2.6B | $1.8B |
| Basic (in dollars per share) | $12.76 | $11.58 | $8.04 |
| Diluted (in dollars per share) | $12.75 | $11.57 | $8.02 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2025-07-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $1.5B | $1.6B | |||
| Accounts receivable net | $988.0M | $1.1B | |||
| Materials and supplies | $271.0M | $277.0M | |||
| Other current assets | $409.0M | $201.0M | |||
| Total current assets | $3.2B | $3.2B | |||
| Investments | $4.1B | $3.4B | |||
| Properties less accumulated depreciation | $36.5B | $35.8B | |||
| Other assets | $1.5B | $1.3B | |||
| Total assets | $45.2B | $43.7B | |||
| Accounts payable | $1.9B | $1.7B | |||
| Income and other taxes | $340.0M | $337.0M | |||
| Other current liabilities | $965.0M | $949.0M | |||
| Current maturities of long-term debt | $607.0M | $555.0M | |||
| Total current liabilities | $3.8B | $3.5B | |||
| Long-term debt | $16.5B | $16.7B | |||
| Other liabilities | $1.7B | $1.8B | |||
| Deferred income taxes | $7.7B | $7.4B | |||
| Total liabilities | $29.7B | $29.4B | |||
| Common stock, net of treasury shares | $226.0M | $228.0M | |||
| Additional paid-in capital | $2.3B | $2.2B | |||
| Accumulated other comprehensive loss | -$210.0M | -$262.0M | |||
| Retained income | $13.2B | $12.1B | |||
| Total stockholders equity | $15.5B | $14.3B | $12.8B | $12.7B | |
| Total liabilities and stockholders equity | $45.2B | $43.7B | |||
| Accumulated depreciation | $14.6B | $14.0B | |||
| Common stock, par or stated value per share (in dollars per share) | $1.00 | $1.00 | $1.00 | ||
| Common stock, shares authorized (in shares) | 1.4B shares | 1.4B shares | |||
| Common stock, shares outstanding, net of treasury shares (in shares) | 224.4M shares | 226.3M shares | |||
| Common stock, shares issued, net of treasury shares (in shares) | 224.4M shares | 226.3M shares |
| Period ending | 2025-12-31 | 2025-07-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $1.5B | $1.6B | |||
| Accounts receivable net | $988.0M | $1.1B | |||
| Materials and supplies | $271.0M | $277.0M | |||
| Other current assets | $409.0M | $201.0M | |||
| Total current assets | $3.2B | $3.2B | |||
| Investments | $4.1B | $3.4B | |||
| Properties less accumulated depreciation | $36.5B | $35.8B | |||
| Other assets | $1.5B | $1.3B | |||
| Total assets | $45.2B | $43.7B | |||
| Accounts payable | $1.9B | $1.7B | |||
| Income and other taxes | $340.0M | $337.0M | |||
| Other current liabilities | $965.0M | $949.0M | |||
| Current maturities of long-term debt | $607.0M | $555.0M | |||
| Total current liabilities | $3.8B | $3.5B | |||
| Long-term debt | $16.5B | $16.7B | |||
| Other liabilities | $1.7B | $1.8B | |||
| Deferred income taxes | $7.7B | $7.4B | |||
| Total liabilities | $29.7B | $29.4B | |||
| Common stock, net of treasury shares | $226.0M | $228.0M | |||
| Additional paid-in capital | $2.3B | $2.2B | |||
| Accumulated other comprehensive loss | -$210.0M | -$262.0M | |||
| Retained income | $13.2B | $12.1B | |||
| Total stockholders equity | $15.5B | $14.3B | $12.8B | $12.7B | |
| Total liabilities and stockholders equity | $45.2B | $43.7B | |||
| Accumulated depreciation | $14.6B | $14.0B | |||
| Common stock, par or stated value per share (in dollars per share) | $1.00 | $1.00 | $1.00 | ||
| Common stock, shares authorized (in shares) | 1.4B shares | 1.4B shares | |||
| Common stock, shares outstanding, net of treasury shares (in shares) | 224.4M shares | 226.3M shares | |||
| Common stock, shares issued, net of treasury shares (in shares) | 224.4M shares | 226.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $2.9B | $2.6B | $1.8B |
| Depreciation | $1.4B | $1.4B | $1.3B |
| Deferred income taxes | $277.0M | $176.0M | -$49.0M |
| Gains and losses on properties | -$253.0M | -$490.0M | -$49.0M |
| Accounts receivable | $59.0M | $85.0M | -$2.0M |
| Materials and supplies | $6.0M | -$13.0M | -$11.0M |
| Other current assets | -$23.0M | $5.0M | -$54.0M |
| Current liabilities other than debt | $259.0M | $548.0M | $435.0M |
| Other net | -$230.0M | -$234.0M | -$216.0M |
| Net cash provided by operating activities | $4.4B | $4.1B | $3.2B |
| Property additions | -$2.2B | -$2.4B | -$2.3B |
| Acquisition of assets of CSR | $0 | -$1.6B | -$22.0M |
| Property sales and other transactions | $164.0M | $558.0M | $86.0M |
| Investment purchases | -$621.0M | -$319.0M | -$124.0M |
| Investment sales and other transactions | $99.0M | $1.0B | $205.0M |
| Net cash used in investing activities | -$2.6B | -$2.8B | -$2.2B |
| Dividends | -$1.2B | -$1.2B | -$1.2B |
| Common Stock transactions | $2.0M | $26.0M | $3.0M |
| Purchase and retirement of Common Stock | -$534.0M | $0 | -$622.0M |
| Proceeds from borrowings | $396.0M | $1.1B | $3.3B |
| Debt repayments | -$559.0M | -$1.1B | -$1.3B |
| Net cash provided by (used in) financing activities | -$1.9B | -$1.2B | $115.0M |
| Net increase (decrease) in cash and cash equivalents | -$111.0M | $73.0M | $1.1B |
| Interest (net of amounts capitalized) | $765.0M | $764.0M | $653.0M |
| Income taxes (net of refunds) | $491.0M | $305.0M | $681.0M |
No quarter-by-quarter statement was filed.
Corporate structure
Norfolk Southern Corporation sits at the top of its group. 52 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Norfolk Southern Corporation
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Norfolk Southern Corporation, latest Apr 30, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Norfolk Southern Corporation, latest Mar 27, 2026 (5 filings since Feb 10, 2022)
- JPMorgan Chase Filed SC 13G/A on Norfolk Southern Corporation, latest Apr 9, 2024 (4 filings since Jan 14, 2022)
- BlackRock Filed SC 13G/A on Norfolk Southern Corporation, latest Jan 29, 2024 (3 filings since Feb 1, 2022)
- Norfolk Southern Corporation Norfolk, Virginia, United States
- Airforce Pipeline, Inc. Subsidiary · North Carolina, United States
- Alabama Great Southern LLC Subsidiary · Virginia, United States
- Alabama Great Southern Railroad Company, The Subsidiary · Alabama, United States
- Alexandria-Southern Properties, Inc. Subsidiary · Virginia, United States
- Arrowood-Southern Company Subsidiary · North Carolina, United States
- Camp Lejeune Railroad Company Subsidiary · North Carolina, United States
- Central of Georgia Railroad Company Subsidiary · Georgia, United States
- Chesapeake Western Railway Subsidiary · Virginia, United States
- Cincinnati, New Orleans and Texas Pacific Railway LLC, The Subsidiary · Ohio, United States
- Citico Realty Company Subsidiary · Virginia, United States
- CNOTP LLC Subsidiary · Ohio, United States
- General American Insurance Company Subsidiary · Georgia, United States
- Georgia Southern and Florida Railway Company Subsidiary · Georgia, United States
- GSFR LLC Subsidiary · Georgia, United States
- High Point, Randleman, Asheboro and Southern Railroad Company Subsidiary · North Carolina, United States
- HPRASR LLC Subsidiary · North Carolina, United States
- Interstate Railroad Company Subsidiary · Virginia, United States
- Lamberts Point Barge Company, Inc. Subsidiary · Virginia, United States
- Mobile and Birmingham Railroad Company Subsidiary · Alabama, United States
- Nickel Plate Improvement Company, Inc., The Subsidiary · Indiana, United States
- Norfolk and Portsmouth Belt Line Railroad Company Subsidiary · Virginia, United States
- Norfolk Southern - Mexico, LLC Subsidiary · Virginia, United States
- Norfolk Southern Properties, Inc. Subsidiary · Virginia, United States
- Norfolk Southern Railroad Company Subsidiary · United States
- Norfolk Southern Railway Company Subsidiary · Virginia, United States
- and 26 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Norfolk Southern Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $51.1B7 Dec 31, 2025 | $49.8B7 Dec 31, 2024 | +2.6% |
| Accumulated depreciation | $14.6B7 Dec 31, 2025 | $14.0B7 Dec 31, 2024 | +4.7% |
| Property and equipment, net | $36.5B7 Dec 31, 2025 | $35.8B7 Dec 31, 2024 | +1.8% |
| Operating-lease assets (leased space) | $218.0M7 Dec 31, 2025 | $271.0M7 Dec 31, 2024 | −19.6% |
Investments
Leadership
Who has led Norfolk Southern Corporation, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerMark R. George Dec 12, 2024 to now17
- Chief executive officerJames A. Squires Jun 1, 2015 to May 1, 202218
- Chief executive officerAlan H. Shaw Nov 2013 to Jun 1, 201519
- Chief executive officerDavid R. Goode Jan 30, 2006 to Jan 30, 200620
- Chief executive officerCharles Moorman Jan 1, 2004 to Jun 1, 201521
- Chief executive officerDavid R. Goode Sep 1, 1992 to Nov 1, 20051
- Chief executive officerArnold B. McKinnon 1987 to 19921
- Chief executive officerRobert B. Claytor 1982 to 19871
- ChairJames A. Squires Jan 29, 2016 to Mar 30, 202222
- ChairCharles Moorman Feb 6, 2006 to Mar 9, 201523
- PresidentMark R. George Dec 12, 2024 to now17
- PresidentAlan H. Shaw Jan 27, 2022 to Jun 12, 202424
- PresidentJames A. Squires Dec 11, 2013 to Aug 5, 202125
- PresidentCharles Moorman Jan 30, 2006 to May 9, 201326
- Chief financial officerJason Andrew Zampi Oct 4, 2024 to now27
- Chief financial officerMark R. George Nov 5, 2019 to Feb 1, 202428
- Chief financial officerCynthia C. Earhart Jan 29, 2018 to Nov 1, 201929
- Chief financial officerJohn P. Rathbone Jan 28, 2013 to Oct 28, 201330
- Chief financial officerMarta R. Stewart Nov 1, 2013 to May 31, 201731
- Chief financial officerHenry C. Wolf Jan 27, 2006 to Apr 17, 200732
- Chief operating officerBrian Barr Jun 9, 2026 to now33
- Chief operating officerJohn F. Orr Mar 28, 2024 to Jun 9, 202634
- Chief operating officerPaul B. Duncan Jan 6, 2023 to Mar 4, 202435
- Chief operating officerCynthia M. Sanborn Sep 1, 2020 to Feb 1, 202236
- Chief operating officerMark D. Manion Dec 1, 2009 to Feb 1, 201637
Board members and other officers (63)
- EVP & CIDOAnil Bhatt Aug 28, 2024 to now38
- OfficerMark R. George Sep 17, 2024 to Sep 17, 202439
- Vice President and ControllerClaiborne L. Moore Mar 3, 2022 to now40
- EVP & Chief Marketing OfficerClaude E. Elkins Dec 10, 2021 to now41
- EVP and Chief Strategy OfficerJohn Meade Scheib Jan 29, 2020 to Feb 3, 202042
- EVP-Chief Transform. OfficerAnn A. Adams Apr 9, 2019 to Feb 1, 202443
- Vice President and ControllerJason Andrew Zampi Dec 26, 2018 to Feb 5, 202044
- SVP - Law and Corp. Comm.William Andrew Galanko Dec 5, 2016 to Jan 29, 201845
- EVP & Chief Marketing OfficerAlan H. Shaw May 26, 2015 to Dec 3, 202146
- Exec. V.P.-AdministrationCynthia C. Earhart Jun 3, 2013 to Jan 26, 201847
- Vice President and ControllerThomas E. Hurlbut Nov 1, 2013 to May 11, 201848
- Vice President and ControllerClyde H. Allison Jr. Apr 2, 2009 to Feb 3, 202249
- Exec. V.P.-Planning & CIODeborah H. Butler Jun 4, 2007 to Jul 6, 201550
- Executive V.P.- AdministrationJohn P. Rathbone Jan 3, 2006 to Jul 30, 201251
- Vice Chmn. and C.O.O.Stephen C. Tobias Jan 3, 2006 to Feb 2, 200952
- Exec. V.P.-Sales & Mktg.Donald W. Seale Jan 26, 2006 to Feb 2, 201553
- Exec. V.P.-Planning & CIOKathryn B. McQuade Jan 27, 2006 to May 7, 200754
- S.V.P.-Energy and PropertiesDaniel D. Smith Jan 30, 2006 to May 7, 201055
- Vice Chrmn. & C.F.O.Henry C. Wolf Jan 30, 2006 to Jul 2, 200756
- Exec.VP-Law & Corp. RelationsJames A. Hixon Jan 30, 2006 to Nov 10, 201657
- Sr. V.P. - LawJames A. Squires Jan 30, 2006 to Mar 20, 201358
- Vice Chmn. & C.M.O.L. I. Prillaman Jan 30, 2006 to Apr 4, 200659
- Exec. V. P. - OperationsMark D. Manion Jan 30, 2006 to Jan 31, 201160
- V. P. and ControllerMarta R. Stewart Jan 30, 2006 to Feb 2, 200961
- Board memberLori Ryerkerk Feb 3, 2025 to now62
- Board memberGilbert H. Lamphere May 28, 2024 to now63
- Board memberMary Kathryn Heitkamp May 28, 2024 to now64
- Board memberRichard H. Anderson May 28, 2024 to now65
- Board memberSameh Fahmy May 28, 2024 to now66
- Board memberMark R. George Sep 17, 2024 to now39
- Board memberFrancesca A. Debiase Jul 28, 2023 to now67
- Board memberAlan H. Shaw Jun 2, 2022 to Jun 12, 202468
- Board memberJohn C. Huffard Jr. Feb 24, 2020 to now69
- Board memberThomas Colm Kelleher Jan 28, 2019 to Feb 24, 202570
- Board memberClaude Mongeau Oct 3, 2019 to now71
- Board memberJennifer F. Scanlon Jan 26, 2018 to Feb 22, 202472
- Board memberMarcela E. Donadio Nov 30, 2016 to now73
- Board memberMitchell E. Daniels Nov 30, 2016 to Feb 22, 202474
- Board memberAmy E. Miles Jan 23, 2014 to Feb 22, 202475
- Board memberJames A. Squires Jan 27, 2014 to Feb 23, 202376
- Board memberMartin H. Nesbitt Feb 19, 2013 to Mar 13, 201977
- Board memberWesley Bush Feb 29, 2012 to Feb 15, 201978
- Board memberErskine B. Bowles Mar 1, 2011 to Apr 2, 201879
- Board memberRobert A. Bradway Jul 26, 2011 to Mar 14, 201780
- Board memberThomas D. Bell Jr. Jan 27, 2010 to Feb 22, 202481
- Board memberKaren N. Horn Feb 26, 2008 to Mar 14, 201682
- Board memberMichael D. Lockhart Sep 22, 2008 to Feb 22, 202483
- Board memberAlston D. Correll Jan 3, 2006 to Mar 12, 201384
- Board memberGene R. Carter Jan 3, 2006 to Apr 1, 201185
- Board memberGerald L. Baliles Jan 3, 2006 to Mar 12, 201386
- Board memberHarold W. Pote Jan 3, 2006 to Apr 4, 200687
- Board memberSteven F. Leer Jan 3, 2006 to Feb 22, 202488
- Board memberDaniel Carp Jan 24, 2006 to Mar 12, 202089
- Board memberBurton M. Joyce Jan 30, 2006 to Mar 12, 201490
- Board memberCharles Moorman Jan 30, 2006 to May 20, 200826
- Board memberDavid R. Goode Jan 30, 2006 to Apr 4, 200620
- Board memberJ. Paul Reason Jan 30, 2006 to Mar 12, 201391
- Board memberJane Margaret Obrien Jan 30, 2006 to Jan 25, 200892
- Board memberLandon Hilliard Jan 30, 2006 to Mar 11, 201193
- General counselLorri J. Kleine Jan 19, 2022 to Feb 3, 202294
- General counselNabanita C. Nag Mar 8, 2022 to Jul 31, 202495
- General counselVanessa Allen Sutherland Apr 9, 2019 to Feb 2, 202196
- General counselJohn Meade Scheib Mar 9, 2018 to Nov 26, 201997
Subsidiaries and ownership
Subsidiaries
- Norfolk Southern Railroad Company
- Norfolk Southern Railway
Subsidiaries (Exhibit 21)
- Airforce Pipeline, Inc. North Carolina6
- Alabama Great Southern LLC Virginia6
- Alabama Great Southern Railroad Company, The Alabama6
- Alexandria-Southern Properties, Inc. Virginia6
- Arrowood-Southern Company North Carolina6
- CNOTP LLC Ohio6
- Camp Lejeune Railroad Company North Carolina6
- Central of Georgia Railroad Company Georgia6
- Chesapeake Western Railway Virginia6
- Cincinnati, New Orleans and Texas Pacific Railway LLC, The Ohio6
- Citico Realty Company Virginia6
- GSFR LLC Georgia6
- General American Insurance Company Georgia6
- Georgia Southern and Florida Railway Company Georgia6
- HPRASR LLC North Carolina6
- High Point, Randleman, Asheboro and Southern Railroad Company North Carolina6
- Interstate Railroad Company Virginia6
- Lamberts Point Barge Company, Inc. Virginia6
- Mobile and Birmingham Railroad Company Alabama6
- NS Fiber Optics, Inc. Virginia6
- NS Spectrum Corporation Virginia6
- NS Transportation Brokerage Corporation Virginia6
- Nickel Plate Improvement Company, Inc., The Indiana6
- Norfolk Southern - Mexico, LLC Virginia6
All 50 listed subsidiaries
- Norfolk Southern Properties, Inc. Virginia6
- Norfolk Southern Railway Company Virginia6
- Norfolk and Portsmouth Belt Line Railroad Company Virginia6
- NorfolkSouthernMexicana, S. de R.L. de C.V. Mexico6
- North Carolina Midland Railroad Company, The North Carolina6
- RIC LLC Delaware6
- Rail Investment Company Delaware6
- Reading Company, LLC [Virginia] Virginia6
- Sandusky Dock Corporation Virginia6
- South Western Rail Road Company, The Georgia6
- Southern Rail Terminals of North Carolina, Inc. North Carolina6
- Southern Rail Terminals, Inc. Georgia6
- Southern Region Industrial Realty, Inc. Georgia6
- Southern Region Materials Supply, Inc. Georgia6
- State University Railroad Company North Carolina6
- T-Cubed of North America, LLC Delaware6
- Thoroughbred Emissions Research, LLC Virginia6
- Thoroughbred Funding, Inc. Virginia6
- Thoroughbred Technology and Telecommunications, LLC Virginia6
- Triple Crown Services, Inc Virginia6
- Virginia Holding Corporation Virginia6
- Virginia and Southwestern Railway Company Virginia6
- Westlake Land Management, Inc. Florida6
- Wheelersburg Terminal LLC Virginia6
- Yadkin Railroad Company North Carolina6
- Yadkin Railroad Investment LLC North Carolina6
From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Jul 23, 20268-K Results of operations; Regulation FD disclosure98
- Jun 1, 20268-K Executive or director change; Regulation FD disclosure99
- May 8, 20268-K Shareholder vote100
- Apr 24, 20268-K Results of operations; Regulation FD disclosure101
- Apr 2, 20268-K Entered a material agreement102
- Jan 29, 20268-K Results of operations; Regulation FD disclosure103
- Dec 19, 20258-K Regulation FD disclosure104
- Nov 17, 20258-K Shareholder vote; Other events105
- Nov 6, 20258-K Other events106
- Oct 23, 20258-K Results of operations; Regulation FD disclosure107
- Sep 29, 20258-K Executive or director change108
- Jul 29, 20258-K Other events109
- Dec 12, 2024New chief executive Mark R. George becomes CEO17
- Jun 1, 2015New chief executive James A. Squires becomes CEO1
- Nov 2013New chief executive Alan H. Shaw becomes CEO1
- Jan 30, 2006New chief executive David R. Goode becomes CEO20
- Jan 1, 2004New chief executive Charles Moorman becomes CEO1
- Sep 1, 1992New chief executive David R. Goode becomes CEO1
- Jan 2, 1990Went public Listed on NYSE1
- 1987New chief executive Arnold B. McKinnon becomes CEO1
- 1982New chief executive Robert B. Claytor becomes CEO1
- 1980Founded Founded1
Calendar
Coming up
- Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $3.30 a share, on Oct 23, 2025.110
When it reported results
- Jul 23, 2026Reported quarterly or annual results98
- Apr 24, 2026Reported quarterly or annual results101
- Jan 29, 2026Reported quarterly or annual results103
- Oct 23, 2025Reported quarterly or annual results107
- Jul 29, 2025Reported quarterly or annual results111
- Apr 23, 2025Reported quarterly or annual results112
- Jan 29, 2025Reported quarterly or annual results113
- Oct 22, 2024Reported quarterly or annual results114
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
906 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 501 insider forms, 13 large holders, 303 other. The latest 20:
- Oct 9, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 15, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Jul 29, 20264 EDGAR
- Jul 23, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
The 906 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
38 open-market trades by officers, directors and large owners since October 2021: 21 buys and 17 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 5, 2025 | Clyburn William Jr.Director | Buy | 204 | $294.79 | $60.1K | Form 4 |
| Nov 19, 2025 | Bhatt AnilEVP & CIDO | Sale | 900 | $281.60 | $253.4K | Form 4 |
| Nov 5, 2025 | Fahmy SamehDirector | Buy | 1,650 | $282.97 | $466.9K | Form 4 |
| Oct 27, 2025 | ANDERSON RICHARD HDirector | Buy | 2,600 | $281.86 | $732.8K | Form 4 |
| Jan 31, 2025 | LAMPHERE GILBERT HDirector | Buy | 607 | $259.86 | $157.7K | Form 4 |
| Dec 13, 2024 | ANDERSON RICHARD HDirector | Buy | 400 | $248.65 | $99.5K | Form 4 |
| Dec 13, 2024 | Clyburn William Jr.Director | Buy | 201 | $248.41 | $49.9K | Form 4 |
| Dec 12, 2024 | Fahmy SamehDirector | Buy | 350 | $249.37 | $87.3K | Form 4 |
| Dec 11, 2024 | George Mark RPresident & CEO | Buy | 200 | $249.84 | $50.0K | Form 4 |
| Oct 24, 2024 | Fahmy SamehDirector | Buy | 1,000 | $255.00 | $255.0K | Form 4 |
| Oct 24, 2024 | ANDERSON RICHARD HDirector | Buy | 1,000 | $257.85 | $257.9K | Form 4 |
| Sep 13, 2024 | Shaw Alan H. | Sale | 51,325 | $255.98 | $13.1M | Form 4 |
| Aug 2, 2024 | Fahmy SamehDirector | Buy | 300 | $241.65 | $72.5K | Form 4 |
| Aug 1, 2024 | Fahmy SamehDirector | Buy | 700 | $245.15 | $171.6K | Form 4 |
| Jul 29, 2024 | Nag Nabanita CEVP Corp Affairs, CLO&Corp Sec | Sale | 355 | $249.38 | $88.5K | Form 4 |
| Jul 29, 2024 | ANDERSON RICHARD HDirector | Buy | 2,000 | $247.48 | $495.0K | Form 4 |
| Jun 14, 2024 | Fahmy SamehDirector | Buy | 2,000 | $219.25 | $438.5K | Form 4 |
| Jun 3, 2024 | Fahmy SamehDirector | Buy | 1,500 | $222.17 | $333.3K | Form 4 |
| May 31, 2024 | Fahmy SamehDirector | Buy | 500 | $222.20 | $111.1K | Form 4 |
| May 30, 2024 | KELLEHER THOMAS COLMDirector | Buy | 2,282 | $219.96 | $502.0K | Form 4 |
All 38 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026115
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 27, 2026116
- JPMorgan ChaseSC 13G/A, 4 filings Jan 14, 2022 to Apr 9, 2024117
- BlackRockSC 13G/A, 3 filings Feb 1, 2022 to Jan 29, 2024118
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Mark R. George | 59 | $1.1M | $16.2M119 |
| 2025 | Claude E. Elkins | $675.0K | $6.9M119 | |
| 2025 | John F. Orr | $750.0K | $5.6M119 | |
| 2025 | Jason A. Zampi | $650.0K | $4.9M119 | |
| 2025 | Anil Bhatt | $650.0K | $4.4M119 | |
| 2024 | President & Chief | $826.0K | $9.0M119 | |
| 2024 | Executive VicePresident & | $417.4K | $2.0M119 | |
| 2023 | Chief Commercial Officer | $600.0K | $4.0M119 | |
| 2023 | Executive Officer | $675.0K | $3.4M119 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 16,000,346 | $5.0B | 0.1% | +724,235 |
| Vanguard Capital Management LLC | 14,666,136 | $4.6B | 0.1% | +79,477 |
| State Street Corp | 10,242,817 | $3.2B | 0.1% | +408,771 |
| Vanguard Portfolio Management LLC | 7,215,898 | $2.3B | 0.1% | +3,190,005 |
| Millennium Management LLC | 5,201,728 | $1.6B | 1.1% | +617,642 |
| Geode Capital Management, LLC | 5,114,278 | $1.6B | 0.1% | +38,090 |
| Bank Of America Corp /de/ | 3,111,914 | $979.0M | 0.1% | −89,179 |
| Norges Bank | 3,040,628 | $956.6M | 0.1% | New |
| Pentwater Capital Management LP | 2,775,000 | $873.0M | 7.0% | −445,000 |
| Northern Trust Corp | 2,614,406 | $822.5M | 0.1% | −23,262 |
| Morgan Stanley | 2,611,985 | $821.7M | 0.0% | −15,435 |
| D. E. Shaw & Co., Inc. | 2,601,202 | $818.3M | 0.5% | +337,722 |
| Dodge & Cox | 2,508,128 | $789.0M | 0.4% | −3,749,622 |
| Dimensional Fund Advisors LP | 2,259,711 | $710.9M | 0.1% | +153 |
| Capital World Investors | 2,011,919 | $632.9M | 0.1% | +5,247 |
| Goldman Sachs Group Inc | 1,888,947 | $594.2M | 0.1% | +263,202 |
| Hbk Investments L P | 1,750,000 | $550.5M | 7.1% | +13,644 |
| Arrowstreet Capital, Limited Partnership | 1,732,049 | $544.9M | 0.2% | +105,361 |
| London Co Of Virginia | 1,652,991 | $520.0M | 3.0% | −47,306 |
| Legal & General Group Plc | 1,599,203 | $503.1M | 0.1% | −110,202 |
| Citadel Advisors LLC | 1,585,467 | $498.8M | 0.3% | −1,034,915 |
| Amundi | 1,540,605 | $484.7M | 0.1% | −686,280 |
| American Century Companies Inc | 1,526,249 | $480.1M | 0.2% | −502,687 |
| Charles Schwab Investment Management Inc | 1,483,414 | $466.7M | 0.1% | +4,519 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1,427,631 | $449.1M | 0.5% | +113,633 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
37 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Mar 27, 2026 | Alan ArmstrongRepublican, Senate | Buy | $1,001 - $15,000 | −7.0% | Report |
| Dec 18, 2025 | Julie JohnsonDemocratic, House | Sale | $1,001 - $15,000 | +2.8% | Report |
| Nov 13, 2025 | Julie JohnsonDemocratic, House | Partial sale | $1,001 - $15,000 | +0.3% | Report |
| Sep 23, 2025 | Val T. HoyleDemocratic, House | Sale | $1,001 - $15,000 | +5.2% | Report |
| Aug 14, 2025 | Julie JohnsonDemocratic, House | Partial sale | $1,001 - $15,000 | +4.7% | Report |
| May 5, 2025 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +9.2% | Report |
| May 5, 2025 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +9.2% | Report |
| Apr 11, 2025 | Jefferson ShreveRepublican, House | Sale | $15,001 - $50,000 | −4.2% | Report |
| Apr 9, 2025 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | −5.6% | Report |
| Apr 8, 2025 | Robert P. Bresnahan, Jr.Republican, House | Sale | $1,001 - $15,000 | −2.0% | Report |
| Apr 4, 2025 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +1.3% | Report |
| Apr 1, 2025 | Julie JohnsonDemocratic, House | Partial sale | $1,001 - $15,000 | +0.3% | Report |
| Mar 31, 2025 | Jefferson ShreveRepublican, House | Buy | $15,001 - $50,000 | −0.8% | Report |
| Mar 19, 2025 | Sheri BiggsRepublican, House | Sale | $15,001 - $50,000 | −2.3% | Report |
| Feb 25, 2025 | Julie JohnsonDemocratic, House | Partial sale | $1,001 - $15,000 | −2.7% | Report |
| Feb 24, 2025 | Jefferson ShreveRepublican, House | Sale | $15,001 - $50,000 | −3.8% | Report |
| Feb 12, 2025 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +0.0% | Report |
| Jan 21, 2025 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +1.0% | Report |
| Dec 24, 2024 | Marjorie Taylor GreeneRepublican, House | Buy | $1,001 - $15,000 | +8.2% | Report |
| Sep 25, 2024 | Shelley Moore CapitoRepublican, Senate | Sale | $1,001 - $15,000 | +1.9% | Report |
| Aug 30, 2024 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | +10.1% | Report |
| Aug 22, 2024 | Shelley Moore CapitoRepublican, Senate | Partial sale | $1,001 - $15,000 | +1.8% | Report |
| Jun 21, 2024 | Josh GottheimerDemocratic, House | Partial sale | $1,001 - $15,000 | −2.7% | Report |
| Oct 16, 2023 | Tommy TubervilleRepublican, Senate | Sale | $1,001 - $15,000 | +20.5% | Report |
| Sep 8, 2023 | Lois FrankelDemocratic, House | Sale | $1,001 - $15,000 | +7.2% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Norfolk Southern Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNORFOLK SOUTHERN CORP2
- CIK0000702165
- Employer ID (EIN)52-1188014120
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company120
- Incorporated inVirginia120
- Fiscal year endsDecember 312
- Industry code (SIC)4011 Railroads, Line-Haul Operating2
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
- Business address650 W Peachtree Street Nw, Atlanta, GA 303082
- Phone470-463-68072
- Shares outstanding224,608,373 as of Jun 30, 202612
- Public float$57.5B as of Jun 30, 2025120
- AuditorKPMG LLP, Atlanta, Georgia PCAOB ID 185; it also attests to the company’s internal control over financial reporting120
- On EDGAR sinceJan 26, 19942
- Filings4,476 in all: 4 (2,790), 8-K (465), 425 (216), DEFA14A (117), 10-Q (98), DFAN14A (66), SC 14D1/A (63), 3 (56)2
All 58 form types
11-K (52), 424B5 (48), 144 (46), 4/A (44), SC 13G/A (44), UPLOAD (36), CORRESP (31), DEF 14A (31), 10-K (26), FWP (25), 8-K/A (19), SC 13G (15), 424B3 (13), S-8 (13), 424B2 (12), NO ACT (12), 5 (9), SC 13E3/A (9), S-4 (8), SC 13D/A (8), 10-K405 (7), EFFECT (7), S-4/A (7), SD (7), S-3 (6), S-3ASR (6), 8-A12B (5), ARS (5), DEFC14A (5), PREC14A (5), PX14A6G (5), S-8 POS (5), CERTNYS (4), SC 14D1 (4), 3/A (3), PRE 14A (3), PRRN14A (3), S-3/A (3), 25 (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-Q/A (1), 11-K/A (1), 15-12B (1), 305B2 (1), DEFM14A (1), POS AM (1), SC 13D (1), SC 13E3 (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Feb 9, 2026
Quarterly report (10-Q) Jul 23, 2026
Proxy statement (DEF 14A) Mar 27, 2026
Latest 8-K (8-K) Jul 23, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Norfolk Southern Corporation Common Stock (Par Value $1.00) | NSC | New York Stock Exchange |
From the cover page of the 10-K filed Feb 9, 2026 (Section 12(b) of the Exchange Act).120
Risk factors and legal proceedings
The risks Norfolk Southern Corporation names in Item 1A of its 10-K filed Feb 9, 2026: 28 risks under these headings, as written.120
- RISKS RELATED TO THE MERGERS
- The Mergers are subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the Mergers could have material adverse effects on the Company.
- The Mergers are subject to the receipt of the requisite regulatory approvals, which requisite regulatory approvals may never be obtained, therefore preventing completion of the Mergers. In addition, in granting such approvals, regulatory authorities may impose conditions that could have a significant adverse effect on the Company or the combined company and the expected benefits of the Mergers therefore preventing completion of the Mergers.
- The Company is subject to business uncertainties and contractual restrictions while the Mergers are pending, which could adversely affect the Company’s business and operations.
- Uncertainties associated with the Mergers may cause a loss of management personnel and other key employees, and the Company may have difficulty attracting and motivating management personnel and other key employees.
- INCIDENT RISKS
- The costs, liabilities, fines, penalties, and/or financial impact resulting from or related to the Incident or the Incident Proceedings have been significant to date, may exceed expected or accrued amounts, and have and can be expected to continue to negatively affect our financial results.
- New or additional governmental regulation and/or operational changes resulting from or related to the Incident or the Incident Proceedings may negatively impact us, our customers, the rail industry, or the markets we serve.
- REGULATORY AND LEGISLATIVE RISKS
- Governmental legislation, regulation, and Executive Orders over commercial, operational, tax, safety, security, or cybersecurity matters could negatively affect us, our customers, the rail industry, or the markets we serve.
- Federal and state environmental laws and regulations could negatively impact us and our operations.
- U.S. international trade relationships may adversely impact our customers, our industry, and our business.
The other 19 risks
- OPERATIONAL RISKS
- A significant adverse event on our network may significantly impede our ability to operate and serve our customers.
- If we are unable to successfully execute on our strategic initiatives, our business and future results of operations may suffer.
- As a common carrier by rail, we must offer to transport hazardous materials, which exposes us to significant costs and claims.
- We face competition from other transportation providers.
- Capacity constraints could negatively impact our service and operating efficiency.
- Constraints on the supply chain or the operations of carriers with which we interchange may adversely affect our operations.
- We may be negatively affected by terrorism or war.
- We may be negatively affected by supply constraints resulting from disruptions in our fuel markets or supplier markets.
- We may be negatively affected by energy prices.
- Pandemics, epidemics, or endemic diseases could further negatively impact us, our customers, our supply chain, and our operations.
- Our business is capital intensive, and we must make capital decisions based upon expectations of future usage of our assets.
- TECHNOLOGY RISKS
- A significant cybersecurity incident or other disruption to our technology infrastructure resulting from internal and external threats could disrupt our business operations.
- Our business may be seriously harmed if we fail to develop, implement, maintain, upgrade, enhance, protect and integrate our information or operational technology systems.
- LITIGATION RISKS
- We may be subject to various claims and lawsuits that could result in significant expenditures.
- HUMAN CAPITAL RISKS
- Failure to attract, retain, and transition key executive officers, or skilled professional or technical employees could adversely impact our business and operations.
- The vast majority of our employees belong to labor unions, and the renegotiation of labor agreements or any provisions thereof, or any strikes or work stoppages (including any entered into in connection with any such negotiations), could adversely affect our operations.
- CLIMATE CHANGE RISKS
- Severe weather and disasters have caused, and could again cause, significant business interruptions and expenditures.
- MACROECONOMIC AND MARKET RISKS
- We may be negatively impacted by changes in general economic conditions.
- The state of capital markets could adversely affect our liquidity.
Legal proceedings
For information on our legal proceedings, see Note 19 “Commitments and Contingencies” in Item 8 “Notes to Consolidated Financial Statements.”
The opening of Item 3, Legal Proceedings.120
Links
- Websitewww.norfolksouthern.com1
- WikidataQ20858163
- SEC EDGARCIK 702165
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4Yahoo FinanceNSC quote
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18Wikidata and SEC EDGARJames A. Squires, Chief executive officer
- 19Wikidata and SEC EDGARAlan H. Shaw, Chief executive officer
- 20
- 21Wikidata and SEC EDGARCharles Moorman, Chief executive officer
- 22SEC EDGARJames A. Squires, Chair
- 23SEC EDGARCharles Moorman, Chair
- 24SEC EDGARAlan H. Shaw, President
- 25SEC EDGARJames A. Squires, President
- 26SEC EDGARCharles Moorman, President
- 27
- 28
- 29
- 30
- 31
- 32
- 33SEC EDGARBrian Barr, Chief operating officer
- 34SEC EDGARJohn F. Orr, Chief operating officer
- 35
- 36
- 37
- 38SEC EDGARAnil Bhatt, EVP & CIDO
- 39SEC EDGARMark R. George, Officer
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- 44
- 45
- 46
- 47
- 48
- 49
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- 51
- 52
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- 56SEC EDGARHenry C. Wolf, Vice Chrmn. & C.F.O.
- 57
- 58SEC EDGARJames A. Squires, Sr. V.P. - Law
- 59SEC EDGARL. I. Prillaman, Vice Chmn. & C.M.O.
- 60
- 61
- 62SEC EDGARLori Ryerkerk, Board member
- 63SEC EDGARGilbert H. Lamphere, Board member
- 64SEC EDGARMary Kathryn Heitkamp, Board member
- 65SEC EDGARRichard H. Anderson, Board member
- 66SEC EDGARSameh Fahmy, Board member
- 67SEC EDGARFrancesca A. Debiase, Board member
- 68SEC EDGARAlan H. Shaw, Board member
- 69SEC EDGARJohn C. Huffard Jr., Board member
- 70SEC EDGARThomas Colm Kelleher, Board member
- 71SEC EDGARClaude Mongeau, Board member
- 72SEC EDGARJennifer F. Scanlon, Board member
- 73SEC EDGARMarcela E. Donadio, Board member
- 74SEC EDGARMitchell E. Daniels, Board member
- 75SEC EDGARAmy E. Miles, Board member
- 76SEC EDGARJames A. Squires, Board member
- 77SEC EDGARMartin H. Nesbitt, Board member
- 78SEC EDGARWesley Bush, Board member
- 79SEC EDGARErskine B. Bowles, Board member
- 80SEC EDGARRobert A. Bradway, Board member
- 81SEC EDGARThomas D. Bell Jr., Board member
- 82SEC EDGARKaren N. Horn, Board member
- 83SEC EDGARMichael D. Lockhart, Board member
- 84SEC EDGARAlston D. Correll, Board member
- 85SEC EDGARGene R. Carter, Board member
- 86SEC EDGARGerald L. Baliles, Board member
- 87SEC EDGARHarold W. Pote, Board member
- 88SEC EDGARSteven F. Leer, Board member
- 89SEC EDGARDaniel Carp, Board member
- 90SEC EDGARBurton M. Joyce, Board member
- 91SEC EDGARJ. Paul Reason, Board member
- 92SEC EDGARJane Margaret Obrien, Board member
- 93SEC EDGARLandon Hilliard, Board member
- 94SEC EDGARLorri J. Kleine, General counsel
- 95SEC EDGARNabanita C. Nag, General counsel
- 96
- 97SEC EDGARJohn Meade Scheib, General counsel
- 98
- 99
- 100SEC EDGARShareholder vote
- 101
- 102SEC EDGAREntered a material agreement
- 103
- 104SEC EDGARRegulation FD disclosure
- 105SEC EDGARShareholder vote; Other events
- 106SEC EDGAROther events
- 107
- 108SEC EDGARExecutive or director change
- 109SEC EDGAROther events
- 110NasdaqNasdaq calendar
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