EX-12.(B) 4 unp-20170930xex12_b.htm EX-12.(B) EX-12 (B)

Exhibit 12(b)



RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies





 

 

 

 



 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Nine Months Ended September 30,

 2017  2016 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

 531 

$

 524 

  Portion of rentals representing an interest factor

 

 57 

 

 64 

Total fixed charges

$

 588 

$

 588 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

 3,434 

$

 3,089 

  Equity earnings net of distributions

 

 (54)

 

 (57)

  Income taxes

 

 2,106 

 

 1,846 

  Fixed charges

 

 588 

 

 588 

Earnings available for fixed charges

$

 6,074 

$

 5,466 

Ratio of earnings to fixed charges

 

 10.3 

 

 9.3