EX-12 2 unp-20180331xex12.htm EX-12 EX-12

Exhibit 12



RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies





 

 

 

 



 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Three Months Ended March 31,

 2018  2017 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

 186 

$

 172 

  Portion of rentals representing an interest factor

 

 18 

 

 20 

Total fixed charges

$

 204 

$

 192 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

 1,310 

$

 1,072 

  Equity earnings net of distributions

 

 (9)

 

 (10)

  Income taxes

 

 401 

 

 616 

  Fixed charges

 

 204 

 

 192 

Earnings available for fixed charges

$

 1,906 

$

 1,870 

Ratio of earnings to fixed charges

 

 9.3 

 

 9.7