EX-12.1 2 railway-12312013x10xkex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Railway-12.31.2013-10-K EX. 12.1


Exhibit 12.1
 
 
 
 
 

BNSF Railway Company and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
In millions, except ratio amounts
(Unaudited)
 
 
2013a
 
2012a
 
2011a
 
February 13 - December 31, 2010a
 
January 1 - February 12, 2010a
 
2009a
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
6,683

 
$
5,954

 
$
5,220

 
$
3,899

 
$
482

 
$
3,081

Add:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and other fixed charges, excluding capitalized interest
 
57

 
55

 
73

 
72

 
16

 
124

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
188

 
196

 
249

 
225

 
35

 
267

Distributed income of investees accounted for under the equity method
 
7

 
6

 
6

 
5

 
—

 
5

Amortization of capitalized interest
 
2

 
1

 
1

 
—

 
1

 
4

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Equity in earnings of investments accounted for under the equity method
 
14

 
14

 
15

 
15

 
1

 
12

     Total earnings available for fixed charges
 
$
6,923

 
$
6,198

 
$
5,534

 
$
4,186

 
$
533

 
$
3,469

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and fixed charges
 
$
86

 
$
79

 
$
93

 
$
85

 
$
17

 
$
142

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
188

 
196

 
249

 
225

 
35

 
267

     Total fixed charges
 
$
274

 
$
275

 
$
342

 
$
310

 
$
52

 
$
409

Ratio of earnings to fixed charges
 
25.27x

 
22.54x

 
16.18x

 
13.50x

 
10.25x

 
8.48x

a For the periods through February 12, 2010, amounts relate to BNSF Railway Company prior to Merger. For all periods on or after February 13, 2010, amounts relate BNSF Railway after Merger.

E-2