EXHIBIT 12.1

BURLINGTON NORTHERN SANTA FE CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Millions, Except Ratio Amounts)

(Unaudited)

	Three Months Ended March 31,
	2002		2001
Earnings:
Income before income taxes and extraordinary charge	$	275	$	226
Add:
Interest and fixed charges excluding capitalized interest		109		120
Portion of rent under long-term operating leases representative of an interest factor		46		43
Distributed income of investees accounted for under the equity method		1		2
Amortization of capitalized interest		2		2
Less: Undistributed equity in earnings of investments accounted for under the equity method		3		7
Total earnings available for fixed charges	$	430	$	386
Fixed charges:
Interest and fixed charges	$	114	$	123
Portion of rent under long-term operating leases representative of an interest factor		46		43
Total fixed charges	$	160	$	166
Ratio of earnings to fixed charges		2.69x		2.33x

E-5