EX-12.(A) 3 d761509dex12a.htm EX-12.(A) EX-12.(a)

Exhibit 12(a)

RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies

 

Millions, Except for Ratios

for the Three Months Ended June 30,

    2014      2013  

Fixed charges:

      

Interest expense including

      

amortization of debt discount

    $ 138       $ 133   

Portion of rentals representing an interest factor

      26         28   

 

Total fixed charges

    $ 164       $ 161   
                   

Earnings available for fixed charges:

      

Net income

    $ 1,291       $ 1,106   

Equity earnings net of distributions

      (11)         (16)   

Income taxes

      789         662   

Fixed charges

      164         161   

 

Earnings available for fixed charges

    $   2,233       $   1,913   
                   

 

Ratio of earnings to fixed charges

      13.6         11.9   
                   

 

40