EX-12.B 3 unp-20180930xex12_b.htm EX-12.B EX-12(B)

Exhibit 12(b)



RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies





 

 

 

 



 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Nine Months Ended September 30,

 2018  2017 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

 630 

$

 531 

  Portion of rentals representing an interest factor

 

 52 

 

 57 

Total fixed charges

$

 682 

$

 588 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

 4,412 

$

 3,434 

  Equity earnings net of distributions

 

 (82)

 

 (54)

  Income taxes

 

 1,313 

 

 2,106 

  Fixed charges

 

 682 

 

 588 

Earnings available for fixed charges

$

 6,325 

$

 6,074 

Ratio of earnings to fixed charges

 

 9.3 

 

 10.3