Exhibit 12.1

THE BURLINGTON NORTHERN AND SANTA FE RAILWAY COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Millions, Except Ratio Amounts)

(Unaudited)

Nine Months Ended September 30,	2003		2002
Earnings:
Income before income taxes and cumulative effect of accounting change	$	1,117	$	1,125
Add:
Interest and fixed charges excluding capitalized interest		111		116
Portion of rent under long-term operating leases representative of an interest factor		136		137
Distributed income of investees accounted for under the equity method		2		3
Amortization of capitalized interest		6		6
Less: Undistributed equity in earnings of investments accounted for under the equity method		11		11
Total earnings available for fixed charges	$	1,361	$	1,376
Fixed charges:
Interest and fixed charges	$	117	$	126
Portion of rent under long-term operating leases representative of an interest factor		136		137
Total fixed charges	$	253	$	263
Ratio of earnings to fixed charges		5.38x		5.23x

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