EX-12.1 2 railway-12312016x10xkex121.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)
 
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
6,779

 
$
7,843

 
$
7,041

 
$
6,683

 
$
5,954

Add:
 
 
 
 
 
 
 
 
 
 
Interest and other fixed charges, excluding capitalized interest
 
50

 
35

 
44

 
57

 
55

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
190

 
199

 
199

 
188

 
196

Distributed income of investees accounted for under the equity method
 
6

 
14

 
7

 
7

 
6

Amortization of capitalized interest
 
4

 
4

 
3

 
2

 
1

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

 
16

 
16

 
14

 
14

     Total earnings available for fixed charges
 
$
7,013

 
$
8,079

 
$
7,278

 
$
6,923

 
$
6,198

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and fixed charges
 
$
76

 
$
69

 
$
74

 
$
86

 
$
79

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
190

 
199

 
199

 
188

 
196

     Total fixed charges
 
$
266

 
$
268

 
$
273

 
$
274

 
$
275

Ratio of earnings to fixed charges
 
26.36x

 
30.15x

 
26.66x

 
25.27x

 
22.54x



E-2