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 SEPT. 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 Sept. 30, 2004

Common Stock (par value $1.00)

396,006,701 (excluding 20,938,125 shares

held by registrant's consolidated subsidiaries)

Page

Part I.

Financial information:

Item 1.

Financial statements:

Consolidated Statements of Income

3

Three and Nine Months Ended Sept. 30, 2004 and 2003

Consolidated Balance Sheets

4

Sept. 30, 2004 and Dec. 31, 2003

Consolidated Statements of Cash Flows

5

Nine Months Ended Sept. 30, 2004 and 2003

Notes to Consolidated Financial Statements

6

Report of Independent Registered Public Accounting Firm

16

Item 2.

Management's Discussion and Analysis of

17

Financial Condition and Results of Operations

Item 3.

Quantitative and Qualitative Disclosures

24

About Market Risks

Item 4.

Controls and Procedures

24

Part II.

Other Information:

Item 2.

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

24

Item 6.

Exhibits and Reports on Form 8-K

25

Signatures

27

Exhibit Index

28

Three Months Ended

Nine Months Ended

Sept. 30,

Sept. 30,

2004

2003

2004

2003

Railway operating revenues:

   Coal

$

447 

$

372 

$

1,269 

$

1,115 

   General merchandise

1,006 

911 

2,998 

2,773 

   Intermodal

404 

315 

1,096 

904 

      Total railway operating revenues

1,857 

1,598 

5,363 

4,792 

Railway operating expenses:

   Compensation and benefits

570 

531 

1,680 

1,592 

   Materials, services and rents

411 

346 

1,165 

1,083 

   Conrail rents and services (Note 2)

79 

105 

282 

314 

   Depreciation (Note 2)

150 

128 

409 

384 

   Diesel fuel

98 

86 

311 

283 

   Casualties and other claims

31 

44 

109 

142 

   Other

49 

47 

167 

154 

      Total railway operating expenses

1,388 

1,287 

4,123 

3,952 

         Income from railway operations

469 

311 

1,240 

840 

Other income - net (Note 2)

40 

12 

50 

57 

Interest expense on debt

(121)

(123)

(363)

(373)

         Income from continuing operations before

            income taxes and accounting changes

388 

200 

927 

524 

Provision for income taxes

100 

63 

268 

165 

         Income from continuing operations before

            accounting changes

288 

137 

659 

359 

Discontinued operations - taxes on sale of

   motor carrier (Note 7)

- -- 

- -- 

- -- 

10 

Cumulative effect of changes in accounting

   principles, net of taxes (Note 8)

- -- 

- -- 

- -- 

114 

      Net income

$

288 

$

137 

$

659 

$

483 

Per share amounts (Note 9):

   Income from continuing operations before