EX-99 2 cnf_99a2.txt Exhibit 99(a) CNF INC. COMPUTATION OF RATIOS OF EARNINGS (LOSS) TO FIXED CHARGES (Dollars in thousands) Six Months Ended June 30, 2001 2000 Fixed Charges: Interest Expense $ 15,027 $ 14,281 Capitalized Interest 612 2,767 Amortization of Debt Expense 482 496 Dividend Requirement on Series B Preferred Stock [1] 5,333 5,433 Interest Component of Rental Expense [2] 24,966 24,495 $ 46,420 $ 47,472 Earnings (Loss): Income (Loss) from Continuing Operations before Taxes [3] $ (333,733) $ 146,045 Fixed Charges 46,420 47,472 Capitalized Interest (612) (2,767) Preferred Dividend Requirements [4] (5,333) (5,433) $ (293,258) $ 185,317 Ratio of Earnings (Loss) to Fixed Charges: (6.3)x 3.9 x Deficiency in the coverage of Fixed Charges by Earnings (Loss) before Fixed Charges (339,678) - [1] Dividends on shares of the Series B cumulative convertible preferred stock are used to pay debt service on notes issued by the Company's Thrift and Stock Plan. [2] Estimate of the interest portion of lease payments. [3] For the six months ended June 30, 2001, results included a $340.5 million loss from a restructuring charge at Emery Worldwide and Menlo Logistics' $31.6 million loss from the failure of a significant customer. [4] Preferred stock dividend requirements included in fixed charges but not deducted in the determination of Income (Loss) from Continuing Operations before Taxes.