EX-12 7 unp-20171231xex12.htm EX-12 Exhibit 12

Exhibit 12





RATIO OF EARNINGS TO FIXED CHARGES

Union Pacific Corporation and Subsidiary Companies









 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Millions, Except for Ratios

 2017  2016  2015  2014  2013 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

  Interest expense including

 

 

 

 

 

 

 

 

 

 

     amortization of debt discount

$

 719 

$

 698 

$

 622 

$

 561 

$

 526 

  Portion of rentals representing an interest factor

 

 75 

 

 83 

 

 93 

 

 101 

 

 121 

Total fixed charges

$

 794 

$

 781 

$

 715 

$

 662 

$

 647 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

  Net income

$

 10,712 

$

 4,233 

$

 4,772 

$

 5,180 

$

 4,388 

  Equity earnings net of distributions

 

 (283)

 

 (83)

 

 (63)

 

 (59)

 

 (57)

  Income taxes

 

 (3,080)

 

 2,533 

 

 2,884 

 

 3,163 

 

 2,660 

  Fixed charges

 

 794 

 

 781 

 

 715 

 

 662 

 

 647 

Earnings available for fixed charges

$

 8,143 

$

 7,464 

$

 8,308 

$

 8,946 

$

 7,638 

Ratio of earnings to fixed charges

 

 10.3 

 

 9.6 

 

 11.6 

 

 13.5 

 

 11.8