EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES dex121.htm



Exhibit 12.1


 
BNSF Railway Company and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
In millions, except ratio amounts
(Unaudited)
 
   
Year ended December 31,
   
2009
 
2008
 
2007
 
2006
 
2005
                       
Earnings:
                             
Income before income taxes
 
$
3,081
 
$
3,800
 
$
3,583
 
$
3,552
 
$
2,862
Add:
                             
Interest and other fixed charges, excluding capitalized interest
   
124
   
97
   
87
   
113
   
127
Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
   
267
   
278
   
282
   
261
   
221
Distributed income of investees accounted for under the equity method
   
5
   
5
   
4
   
3
   
4
Amortization of capitalized interest
   
4
   
5
     4      4      8
   Less:
                             
 Equity in earnings of investments accounted for under the equity method
   
12
   
13
   
19
   
27
   
15
Total earnings available for fixed charges
 
$
3,469
 
$
4,172
 
$
3,941
 
$
3,906
 
$
3,207
Fixed charges:
                             
Interest and fixed charges
 
$
142
 
$
114
 
$
104
 
$
127
 
$
140
  Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
   
267
   
278
   
282
   
261
   
221
Total fixed charges
 
$
409
 
$
392
 
$
386
 
$
388
 
$
361
Ratio of earnings to fixed charges
   
8.48x
   
10.64x
   
10.21x
   
10.07x
   
8.88x