EX-99 5 q2_ex99a.txt Exhibit 99.1(a) CNF INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Six Months Ended June 30, ------------------------- 2003 2002 --------- --------- Fixed Charges: Interest Expense $15,023 $11,523 Capitalized Interest 134 368 Amortization of Debt Expense 663 658 Dividend Requirement on Series B Preferred Stock [1] 5,069 5,208 Interest Component of Rental Expense [2] 15,367 11,674 --------- --------- $36,256 $29,431 --------- --------- Earnings: Income Before Taxes $59,548 $69,106 Fixed Charges 36,256 29,431 Capitalized Interest (134) (368) Preferred Dividend Requirements [3] (5,069) (5,208) --------- --------- $90,601 $92,961 --------- --------- Ratio of Earnings to Fixed Charges: 2.5x 3.2x ========= ========= [1] Dividends on shares of the Series B cumulative convertible preferred stock are used to pay debt service on notes issued by CNF'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 deducted in the determination of Income Before Taxes.