EX-12 2 unp-20150331ex12a5288a8.htm EX-12 EX-12

Exhibit 12

 

RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies

 

 

 

 

 

 

 

 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Three Months Ended March 31,
2015 
2014 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$
148 

$
133 

  Portion of rentals representing an interest factor

 
25 

 
28 

Total fixed charges

$
173 

$
161 

Earnings available for fixed charges:

 

 

 

 

  Net income

$
1,151 

$
1,088 

  Equity earnings net of distributions

 
(13)

 
(14)

  Income taxes

 
704 

 
671 

  Fixed charges

 
173 

 
161 

Earnings available for fixed charges

$
2,015 

$
1,906 

Ratio of earnings to fixed charges

 
11.6 

 
11.8 

 

39