EX-12.(B) 4 dex12b.htm RATIO OF EARNINGS TO FIXED CHARGES FOR THE 9 MONTHS ENDED 9/30/2009 Ratio of Earnings to Fixed Charges for the 9 Months Ended 9/30/2009

Exhibit 12(b)

RATIO OF EARNINGS TO FIXED CHARGES

Union Pacific Corporation and Subsidiary Companies (Unaudited)

 

      Nine Months Ended
September 30,		  

Millions of Dollars, Except for Ratios

      2009       2008  

Fixed charges:

     

Interest expense including amortization of debt discount

    $ 447     $ 384  

Portion of rentals representing an interest factor

      118       168  

Total fixed charges

    $ 565     $ 552  

Earnings available for fixed charges:

     

Net income

    $ 1,347     $ 1,677  

Equity earnings net of distributions

      (25 )      (40 ) 

Income taxes

      768       940  

Fixed charges

      565       552  

Earnings available for fixed charges

    $ 2,655     $ 3,129  

Ratio of earnings to fixed charges

      4.7       5.7