EX-12.1 2 railway-12312015x10xkex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1
 
 
 
 
 

BNSF Railway Company and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
In millions, except ratio amounts
(Unaudited)
 
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
7,843

 
$
7,041

 
$
6,683

 
$
5,954

 
$
5,220

Add:
 
 
 
 
 
 
 
 
 
 
Interest and other fixed charges, excluding capitalized interest
 
35

 
44

 
57

 
55

 
73

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
199

 
199

 
188

 
196

 
249

Distributed income of investees accounted for under the equity method
 
14

 
7

 
7

 
6

 
6

Amortization of capitalized interest
 
4

 
3

 
2

 
1

 
1

Less:
 
 
 
 
 
 
 
 
 
 
Equity in earnings of investments accounted for under the equity method
 
16

 
16

 
14

 
14

 
15

     Total earnings available for fixed charges
 
$
8,079

 
$
7,278

 
$
6,923

 
$
6,198

 
$
5,534

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and fixed charges
 
$
69

 
$
74

 
$
86

 
$
79

 
$
93

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
199

 
199

 
188

 
196

 
249

     Total fixed charges
 
$
268

 
$
273

 
$
274

 
$
275

 
$
342

Ratio of earnings to fixed charges
 
30.15x

 
26.66x

 
25.27x

 
22.54x

 
16.18x



E-2