EX-12.1 3 d615508dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies

 

Millions, Except for Ratios

for the Nine Months Ended September 30,

    2013     2012  

Fixed charges:

     

Interest expense including amortization of debt discount

    $ 398     $ 407  

Portion of rentals representing an interest factor

      89       97  
  

 

 

    

 

 

  

Total fixed charges

    $ 487     $ 504  
  

 

 

    

 

 

  

Earnings available for fixed charges:

     

Net income

    $ 3,214     $ 2,907  

Equity earnings net of distributions

      (38 )      (41 ) 

Income taxes

      1,951       1,771  

Fixed charges

      487       504  
  

 

 

    

 

 

  

Earnings available for fixed charges

    $ 5,614     $ 5,141  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

      11.5       10.2