EX-12.(B) 3 d380661dex12b.htm RATIO OF EARNINGS TO FIXED CHARGES SIX MONTHS ENDED JUNE 30 RATIO OF EARNINGS TO FIXED CHARGES SIX MONTHS ENDED JUNE 30

Exhibit 12(b)

RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies

 

Millions, Except for Ratios

for the Six Months Ended June 30,

    2012      2011  

Fixed charges:

      

Interest expense including

      

amortization of debt discount

    $   270       $ 289   

Portion of rentals representing an interest factor

     68         68   

 

Total fixed charges

    $ 338       $ 357   
                   

Earnings available for fixed charges:

      

Net income

    $   1,865       $   1,424   

Equity earnings net of distributions

      (23)         (12)   

Income taxes

      1,136         857   

Fixed charges

      338         357   

 

Earnings available for fixed charges

    $ 3,316       $ 2,626   
                   

 

Ratio of earnings to fixed charges

      9.8         7.4   
                   

 

41