Exhibit 12.1

BNSF RAILWAY COMPANY and SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratio amounts)

(Unaudited)

		Six Months Ended June 30,
		2012		2011
Earnings:
Income before income taxes	$	2,674	$	2,278
Add:
Interest and other fixed charges, excluding capitalized interest		29		42
Reasonable approximation of portion of rent under long-term operating           leases representative of an interest factor		99		123
Distributed income of investees accounted for under the equity method		3		3
Amortization of capitalized interest		1		—
Less:
Equity in earnings of investments accounted for under the equity method		6		8
Total earnings available for fixed charges	$	2,800	$	2,438
Fixed charges:
Interest and fixed charges	$	41	$	48
Reasonable approximation of portion of rent under long-term operating leases    representative of an interest factor		99		123
Total fixed charges	$	140	$	171
Ratio of earnings to fixed charges		20.00x		14.26x

E-2