EX-99 3 q202_1a.txt Exhibit 99.1(a) CNF INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Six Months Ended June 30, 2002 2001 Fixed Charges: Interest Expense $ 11,523 $ 15,027 Capitalized Interest 368 612 Amortization of Debt Expense 658 482 Dividend Requirement on Series B Preferred Stock [1] 5,208 5,333 Interest Component of Rental Expense [2] 11,674 24,966 $ 29,431 $ 46,420 Earnings (Loss): Income (Loss) from Continuing Operations before Taxes $ 69,106 $ (333,733) Fixed Charges 29,431 46,420 Capitalized Interest (368) (612) Preferred Dividend Requirements [3] (5,208) (5,333) $ 92,961 $ (293,258) Ratio of Earnings (Loss) to Fixed Charges: 3.2x (6.3)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] Preferred stock dividend requirements included in fixed charges but not included in the determination of Income (Loss) from Continuing Operations before Taxes.