EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES dex121.htm


Exhibit 12.1

BNSF RAILWAY COMPANY and SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio amounts)
(Unaudited)


   
Three Months Ended
March 31,
   
2008
  
2007
          (As Adjusted)a
Earnings:
        
         
Income before income taxes
  
$
857
  
$
724
         
Add:
        
Interest and other fixed charges, excluding capitalized interest
  
27
  
21
         
Reasonable approximation of portion of rent under long-term operating leases
        
representative of an interest factor
  
70
  
69
         
Distributed income of investees accounted for under the equity method
  
1
  
1
         
Amortization of capitalized interest
  
1
  
–
         
Less:  Equity in earnings of investments accounted for
        
under the equity method
  
2
  
3
         
         
Total earnings available for fixed charges
  
 $
954
  
$
812
         
Fixed charges:
        
         
Interest and fixed charges
  
$
32
  
$
23
         
Reasonable approximation of portion of rent under long-term operating leases
        
representative of an interest factor
  
70
  
69
         
Total fixed charges
  
$
102
  
$
92
         
Ratio of earnings to fixed charges
  
9.35x
  
8.83x
a  Prior year numbers have been adjusted for the merger of BNSF Acquisition, Inc. into BNSF Railway Company.  See Note 1 to the Consolidated Financial Statements for additional information.
 




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