EX-12 10 d521471dex12.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,

    2013      2012  

Fixed charges:

      

Interest expense including

      

amortization of debt discount

    $         128       $         135   

Portion of rentals representing an interest factor

      30         48   

Total fixed charges

    $ 158       $ 183   
                   

Earnings available for fixed charges:

      

Net income

    $ 957       $ 863   

Equity earnings net of distributions

      (1)         (15)   

Income taxes

      588         528   

Fixed charges

      158         183   

Earnings available for fixed charges

    $ 1,702       $ 1,559   

 

Ratio of earnings to fixed charges

      10.8         8.5   
                   

 

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