Exhibit 12.1

BURLINGTON NORTHERN SANTA FE CORPORATION AND SUBSIDIARIES

COMPUTATION of RATIO of EARNINGS to FIXED CHARGES

(in millions, except ratio amounts)

(Unaudited)

	Year Ended December 31,
	2002		2001		2000
Earnings:
Pre-tax income	$	1,216	$	1,173	$	1,585
Add:
Interest and fixed charges, excluding capitalized interest		428		463		453
Portion of rent under long-term operating leases representative of an interest factor		178		173		167
Distributed income of investees accounted for under the equity method		3		5		46
Amortization of capitalized interest		8		7		6
Less: Undistributed equity in earnings of investments accounted for under the equity method		17		23		18
Total earnings available for fixed charges	$	1,816	$	1,798	$	2,239
Fixed charges:
Interest and fixed charges	$	441	$	477	$	481
Portion of rent under long-term operating leases representative of an interest factor		178		173		167
Total fixed charges	$	619	$	650	$	648
Ratio of earnings to fixed charges		2.93 x		2.77 x		3.46 x

Certain prior period amounts have been reclassified to conform with the current period presentation.