EX-12.1 2 railway-12312017x10xkex121.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)
 
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
7,583

 
$
6,779

 
$
7,843

 
$
7,041

 
$
6,683

Add:
 
 
 
 
 
 
 
 
 
 
Interest and other fixed charges, excluding capitalized interest
 
43

 
50

 
35

 
44

 
57

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
182

 
190

 
199

 
199

 
188

Distributed income of investees accounted for under the equity method
 
7

 
6

 
14

 
7

 
7

Amortization of capitalized interest
 
5

 
4

 
4

 
3

 
2

Less:
 
 
 
 
 
 
 
 
 
 
Equity in earnings of investments accounted for under the equity method
 
136

 
16

 
16

 
16

 
14

     Total earnings available for fixed charges
 
$
7,684

 
$
7,013

 
$
8,079

 
$
7,278

 
$
6,923

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and fixed charges
 
$
65

 
$
76

 
$
69

 
$
74

 
$
86

Reasonable approximation of portion of rent under long-term operating leases representative of an interest factor
 
182

 
190

 
199

 
199

 
188

     Total fixed charges
 
$
247

 
$
266

 
$
268

 
$
273

 
$
274

Ratio of earnings to fixed charges
 
31.11x

 
26.36x

 
30.15x

 
26.66x

 
25.27x



E-1