EX-99 5 ex99.txt Exhibit 99.1 CON-WAY INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Six Months Ended June 30,2007 ---------------- Fixed Charges: Interest expense $ 17,324 Capitalized interest 216 Dividend requirement on Series B Preferred Stock (1) 3,904 Interest component of rental expense (2) 3,692 ---------------- Fixed Charges $ 25,136 ================ Earnings: Income from continuing operations before income tax provision $ 127,465 Loss from equity investment (3) 2,699 ---------------- 130,164 Fixed Charges 25,136 Capitalized interest (216) Preferred dividend requirements (4) (3,904) ---------------- $ 151,180 ================ Ratio 6.0 x (1) Dividends on shares of the Series B cumulative convertible preferred stock are used to pay debt service on notes issued by Con-way's Retirement Savings Plan. (2) Estimate of the interest portion of lease payments. (3) In December 2006, Con-way recognized the sale to GM of Con-way's membership interest in Vector. In the first half of 2007, operating income included a $2.7 million first-quarter loss for the write-off of a receivable related to the Vector sale. (4) Preferred stock dividend requirements included in Fixed Charges but not deducted in the determination of income from continuing operations before income taxes.