Norfolk Southern Subsidiaries
Significant subsidiary entities from SEC Exhibit 21(FY 2025)
Key Data Points
- Altman Z-Score 1.03 (distress zone, below 1.8 threshold)
- Strong profit margin: 24.2%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Overview
Jurisdiction Distribution
Other/Unknown
53 (51.5%)
Virginia
22 (21.4%)
North Carolina
10 (9.7%)
Georgia
8 (7.8%)
Delaware
3 (2.9%)
Alabama
2 (1.9%)
Ohio
2 (1.9%)
Florida
1 (1.0%)
Mexico
1 (1.0%)
Indiana
1 (1.0%)
Subsidiary List (103)
| Subsidiary Name | Jurisdiction |
|---|---|
| RIC LLC | - |
| South Western Rail Road Company, The | - |
| Southern Rail Terminals, Inc. | - |
| Southern Region Materials Supply, Inc. | - |
| Norfolk Southern Railway Company | - |
| NS Fiber Optics, Inc. | - |
| Airforce Pipeline, Inc. | - |
| Alabama Great Southern LLC | - |
| Alabama Great Southern Railroad Company, The | - |
| Central of Georgia Railroad Company | - |
| Chesapeake Western Railway | - |
| Cincinnati, New Orleans and Texas Pacific Railway LLC, The | - |
| Citico Realty Company | - |
| CNOTP LLC | - |
| Georgia Southern and Florida Railway Company | - |
| GSFR LLC | - |
| High Point, Randleman, Asheboro and Southern Railroad Company | - |
| Norfolk Southern Railway Company Subsidiaries (continued) | - |
| Yadkin Railroad Company | - |
| Yadkin Railroad Investment LLC | - |
| Norfolk Southern Properties, Inc. Subsidiaries | - |
| Alexandria-Southern Properties, Inc. | - |
| Arrowood-Southern Company | - |
| General American Insurance Company | - |
| T-Cubed of North America, LLC | - |
| Thoroughbred Technology and Telecommunications, LLC | - |
| Norfolk Southern Railway Company Subsidiaries | - |
| Southern Region Industrial Realty, Inc. | - |
| Virginia Holding Corporation | - |
| Westlake Land Management, Inc. | - |
| HPRASR LLC | - |
| Interstate Railroad Company | - |
| Lamberts Point Barge Company, Inc. | - |
| Mobile and Birmingham Railroad Company | - |
| Norfolk Southern - Mexico, LLC | - |
| NorfolkSouthernMexicana, S. de R.L. de C.V. | - |
| North Carolina Midland Railroad Company, The | - |
| NS Spectrum Corporation | - |
| Rail Investment Company | - |
| Reading Company, LLC Virginia | - |
| Southern Rail Terminals of North Carolina, Inc. | - |
| State University Railroad Company | - |
| Thoroughbred Emissions Research, LLC | - |
| Thoroughbred Funding, Inc. | - |
| Triple Crown Services, Inc | - |
| Virginia and Southwestern Railway Company | - |
| Wheelersburg Terminal LLC | - |
| Nickel Plate Improvement Company, Inc., The | - |
| NS Transportation Brokerage Corporation | - |
| Sandusky Dock Corporation | - |
| Camp Lejeune Railroad Company | - |
| Norfolk Southern Properties, Inc. | - |
| Norfolk and Portsmouth Belt Line Railroad Company | - |
| Norfolk and Portsmouth Belt Line Railroad Company | Virginia |
| Chesapeake Western Railway | Virginia |
| High Point, Randleman, Asheboro and Southern Railroad Company | North Carolina |
| Reading Company, LLC [Virginia] | Virginia |
| NS Transportation Brokerage Corporation | Virginia |
| T-Cubed of North America, LLC | Delaware |
| Georgia Southern and Florida Railway Company | Georgia |
| Mobile and Birmingham Railroad Company | Alabama |
| Southern Rail Terminals of North Carolina, Inc. | North Carolina |
| Virginia and Southwestern Railway Company | Virginia |
| Westlake Land Management, Inc. | Florida |
| General American Insurance Company | Georgia |
| Airforce Pipeline, Inc. | North Carolina |
| Norfolk Southern - Mexico, LLC | Virginia |
| State University Railroad Company | North Carolina |
| Yadkin Railroad Company | North Carolina |
| Norfolk Southern Railway Company | Virginia |
| Citico Realty Company | Virginia |
| Interstate Railroad Company | Virginia |
| South Western Rail Road Company, The | Georgia |
| Southern Region Industrial Realty, Inc. | Georgia |
| Alabama Great Southern Railroad Company, The | Alabama |
| North Carolina Midland Railroad Company, The | North Carolina |
| Thoroughbred Funding, Inc. | Virginia |
| Alexandria-Southern Properties, Inc. | Virginia |
| Alabama Great Southern LLC | Virginia |
| NorfolkSouthernMexicana, S. de R.L. de C.V. | Mexico |
| Thoroughbred Emissions Research, LLC | Virginia |
| Yadkin Railroad Investment LLC | North Carolina |
| Central of Georgia Railroad Company | Georgia |
| Rail Investment Company | Delaware |
| Nickel Plate Improvement Company, Inc., The | Indiana |
| NS Fiber Optics, Inc. | Virginia |
| CNOTP LLC | Ohio |
| Lamberts Point Barge Company, Inc. | Virginia |
| Southern Rail Terminals, Inc. | Georgia |
| Triple Crown Services, Inc | Virginia |
| Virginia Holding Corporation | Virginia |
| Thoroughbred Technology and Telecommunications, LLC | Virginia |
| GSFR LLC | Georgia |
| Southern Region Materials Supply, Inc. | Georgia |
| Wheelersburg Terminal LLC | Virginia |
| Camp Lejeune Railroad Company | North Carolina |
| NS Spectrum Corporation | Virginia |
| Arrowood-Southern Company | North Carolina |
| Norfolk Southern Properties, Inc. | Virginia |
| Cincinnati, New Orleans and Texas Pacific Railway LLC, The | Ohio |
| HPRASR LLC | North Carolina |
| RIC LLC | Delaware |
| Sandusky Dock Corporation | Virginia |
As of FY2025 · SEC 10-K Exhibit 21 · Updated Mar 13, 2026
About SEC Exhibit 21
SEC Exhibit 21 is filed as part of a company's annual 10-K report. It lists all significant subsidiaries, including each entity's jurisdiction of incorporation or organization.
The number of subsidiaries can indicate a company's operational complexity, geographic reach, and corporate structure. Companies with many subsidiaries in tax-advantaged jurisdictions may have different tax optimization strategies.
This data is sourced directly from SEC EDGAR filings, which are publicly available.
Frequently Asked Questions
How many subsidiaries does Norfolk Southern have?
Norfolk Southern (NSC) lists 103 significant subsidiaries in its SEC Exhibit 21 filing for fiscal year 2025, including 49 US-based and 54 international entities. Exhibit 21 includes significant subsidiaries and may not represent the complete list.
Where does subsidiary data come from?
This subsidiary list is sourced from SEC EDGAR Exhibit 21, which is filed as part of a company's annual 10-K report. SEC filings are publicly available government-mandated disclosures.