EX-12 2 unp-20160331xex12.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,

 2016  2015 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

 167 

$

 148 

  Portion of rentals representing an interest factor

 

 24 

 

 25 

Total fixed charges

$

 191 

$

 173 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

 979 

$

 1,151 

  Equity earnings net of distributions

 

 (21)

 

 (13)

  Income taxes

 

 587 

 

 704 

  Fixed charges

 

 191 

 

 173 

Earnings available for fixed charges

$

 1,736 

$

 2,015 

Ratio of earnings to fixed charges

 

 9.1 

 

 11.6 



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