UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington , D.C.   20549

FORM 10-Q

(X)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the quarterly period ended JUNE 30, 2004

( )

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission file number 1-8339

NORFOLK SOUTHERN CORPORATION

(Exact name of registrant as specified in its charter)

Virginia

52-1188014

(State or other jurisdiction of

(IRS Employer Identification No.)

incorporation or organization)

Three Commercial Place

Norfolk , Virginia

23510-2191

(Address of principal executive offices)

Zip Code

Registrant's telephone number, including area code

(757) 629-2680

No Change

(Former name, former address and former fiscal year,

if changed since last report.)

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 of 1934 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 such filing

requirements for the past 90 days.  

(X) Yes   

( ) No

Indicate by check mark whether registrant is an accelerated filer (as defined in Rule 12b-2 of The Exchange Act).

(X) Yes   

( ) No

The number of shares outstanding of each of the registrant's classes of Common Stock, as of the last

practicable date:

Class

Outstanding as of June 30, 2004

Common Stock (par value $1.00)

393,687,114 (excluding 20,973,125 shares

held by registrant's consolidated subsidiaries)

Page

Part I.

Financial information:

Item 1.

Financial statements:

Consolidated Statements of Income

3

Three and Six Months Ended June 30, 2004 and 2003

Consolidated Balance Sheets

4

June 30, 2004 and Dec. 31, 2003

Consolidated Statements of Cash Flows

5

Six Months Ended June 30, 2004 and 2003

Notes to Consolidated Financial Statements

6

Report of Independent Registered Public Accounting Firm

15

Item 2.

Management's Discussion and Analysis of

16

Financial Condition and Results of Operations

Item 3.

Quantitative and Qualitative Disclosures

23

About Market Risks

Item 4.

Controls and Procedures

23

Part II.

Other Information:

Item 2.

Changes in Securities, Use of Proceeds and Issuer Purchases of Equity Securities

23

Item 4.

Submission of Matters to a Vote of Security Holders

24

Item 6.

Exhibits and Reports on Form 8-K

24

Signatures

25

Exhibit Index

26

Three Months Ended

Six Months Ended

June 30,

June 30,

2004

2003

2004

2003

Railway operating revenues:

   Coal

$

424 

$

389 

$

822 

$

743 

   General merchandise

1,025 

944 

1,992 

1,862 

   Intermodal

364 

300 

692 

589 

      Total railway operating revenues

1,813 

1,633 

3,506 

3,194 

Railway operating expenses:

   Compensation and benefits

565 

535 

1,110 

1,061 

   Materials, services and rents

389 

377 

754 

737 

   Conrail rents and services (Note 2)

101 

102 

203 

209 

   Depreciation

130 

129 

259 

256 

   Diesel fuel

106 

93 

213 

197 

   Casualties and other claims

38 

47 

78 

98 

   Other

59 

52 

118 

107 

      Total railway operating expenses

1,388 

1,335 

2,735 

2,665 

         Income from railway operations

425 

298 

771 

529 

Other income - net

- -- 

24 

10 

45 

Interest expense on debt

(121)

(123)

(242)

(250)

         Income from continuing operations before

            income taxes and accounting changes

304 

199 

539 

324 

Provision for income taxes

91 

62 

168 

102 

         Income from continuing operations before

            accounting changes

213 

137 

371 

222 

Discontinued operations - taxes on sale of

   motor carrier (Note 6)

- -- 

- -- 

- -- 

10 

Cumulative effect of changes in accounting

   principles, net of taxes (Note 7)

- -- 

- -- 

- -- 

114 

      Net income

$

213 

$

137 

$

371 

$

346 

Per share amounts, basic and diluted (Note 8):