Exhibit 12(a)

CNF INC.

COMPUTATION OF RATIOS OF EARNINGS (LOSS) TO FIXED CHARGES

Year Ended December 31,

(Dollars in thousands)	2003			2002			2001			2000			1999
Fixed Charges:
Interest expense	$	30,071		$	23,558		$	27,992		$	29,972		$	25,972
Capitalized interest		241			455			864			4,636			5,864
Amortization of debt expense		1,354			1,321			1,064			1,044			908
Dividend requirement on Series B Preferred Stock (1)		10,072			10,331			10,606			10,808			10,992
Interest component of rental expense (2)		17,138			19,564			25,033			38,161			41,363
Fixed Charges	$	58,876		$	55,229		$	65,559		$	84,621		$	85,099
Earnings (Loss):
Income (Loss) from continuing operations before taxes (3)	$	156,016		$	146,244		$	(695,933	)	$	261,196		$	332,260
(Income) Loss from equity-method investment		(20,718	)		(18,188	)		9,415			560			—
		135,298			128,056			(686,518	)		261,756			332,260
Fixed charges		58,876			55,229			65,559			84,621			85,099
Capitalized interest		(241	)		(455	)		(864	)		(4,636	)		(5,864	)
Preferred dividend requirements (4)		(10,072	)		(10,331	)		(10,606	)		(10,808	)		(10,992	)
	$	183,861		$	172,499		$	(632,429	)	$	330,933		$	400,503
Ratio		3.1	x		3.1	x		(9.6	)x		3.9	x		4.7	x
Deficiency in the coverage of fixed charges by earnings (loss) before fixed charges		—			—			(697,988	)		—			—

(1) Dividends on shares of the Series B cumulative convertible preferred stock are used to pay debt service on notes issued by the CNF’s Thrift and Stock Plan.

(2) Estimate of the interest portion of lease payments.

(3) For the year ended December 31, 2001, results included a $652.2 million loss from restructuring charges at Forwarding and Menlo Worldwide Logistics’ $47.5 million loss from the business failure of a customer.

(4) Preferred stock dividend requirements included in Fixed Charges but not deducted in the determination of Income (Loss) from Continuing Operations Before Income Taxes.