Exhibit 12

CON-WAY INC.

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

Year Ended December 31,

(Dollars in thousands)
	2011		2010		2009			2008		2007
Earnings:
Income (Loss) from continuing operations before income tax provision	$	148,072	$	16,557	$	(90,269	)	$	134,917	$	242,646
Add:
Loss from equity investment (1)		—		—		—			—		2,699
Interest expense, net of capitalized interest		55,589		59,015		64,440			62,936		42,805
Interest component of rental expense (2)		5,504		6,334		7,305			12,012		8,711
Earnings (Loss) as adjusted	$	209,165	$	81,906	$	(18,524	)	$	209,865	$	296,861
Fixed Charges:
Interest expense, net of capitalized interest	$	55,589	$	59,015	$	64,440		$	62,936	$	42,805
Capitalized interest		—		—		146			645		514
Dividend requirement on Series B Preferred Stock (3)		—		—		3,189			7,134		7,651
Interest component of rental expense (2)		5,504		6,334		7,305			12,012		8,711
Fixed Charges	$	61,093	$	65,349	$	75,080		$	82,727	$	59,681
Ratio of Earnings (Loss) to Fixed Charges		3.4 x		1.3 x		(0.2	) x		2.5 x		5.0 x

(1) The year ended December 31, 2007 included a $2.7 million loss for the write-off of a receivable related to the sale of Menlo Worldwide’s membership interest in its equity investment.

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

(3) Dividends on shares of the Series B cumulative convertible preferred stock were used to pay debt service on notes issued by Con-way’s Retirement Savings Plan. The notes were repaid at maturity in January 2009.