EX-12.1 2 csx09282012ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CSX 09.28.2012 EX. 12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges
CSX Corporation
Ratio of Earnings to Fixed Charges
(Dollars in Millions)

 
For the Nine Months Ended
 
For the Fiscal Years Ended
 
Sep. 28, 2012
 
Dec. 30, 2011
Dec. 31, 2010
Dec. 25, 2009
Dec. 26, 2008
Dec. 28, 2007
EARNINGS:
 
 
 
 
 
 
 
Earnings before Income Taxes
$
2,246

 
$
2,888

$
2,546

$
1,746

$
2,332

$
1,935

Interest Expense
421

 
552

557

558

519

417

Amortization of debt discount
(2)

 
(3)

(3)

(4)

5

4

Interest Portion of Fixed Rent
15

 
17

17

23

28

32

Undistributed Earnings of
 Unconsolidated Subsidiaries
(18)

 
(30)

(33)

(42)

(75)

(61)

Earnings, as Adjusted:
$
2,662

 
$
3,424

$
3,084

$
2,281

$
2,809

$
2,327

FIXED CHARGES:
 
 
 
 
 
 
 
Interest Expense
$
421

 
$
552

$
557

$
558

$
519

$
417

Capitalized Interest
14

 
15

10

8

9

5

Amortization of debt discount
(2)

 
(3)

(3)

(4)

5

4

Interest Portion of Fixed Rent
15

 
17

17

23

28

32

Fixed Charges
$
448

 
$
581

$
581

$
585

$
561

$
458

Ratio of Earnings to Fixed Charges
 5.9x

 
 5.9x

 5.3x

 3.9x

 5.0x

 5.1x