Exhibit 12.1

BNSF RAILWAY COMPANY and SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratio amounts)

(Unaudited)

		Three Months Ended March 31,
		2012		2011
Earnings:
Income before income taxes	$	1,245	$	1,072
Add:
Interest and other fixed charges, excluding capitalized interest		15		22
Reasonable approximation of portion of rent under long-term operating           leases representative of an interest factor		50		62
Distributed income of investees accounted for under the equity method		2		1
Amortization of capitalized interest		—		—
Less:
Equity in earnings of investments accounted for under the equity method		3		4
Total earnings available for fixed charges	$	1,309	$	1,153
Fixed charges:
Interest and fixed charges	$	21	$	24
Reasonable approximation of portion of rent under long-term operating leases    representative of an interest factor		50		62
Total fixed charges	$	71	$	86
Ratio of earnings to fixed charges		18.44x		13.41x

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