EX-12 3 0003.txt COMPUTATION OF RATIO Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges CSX Corporation Ratio of Earnings to Fixed Charges (Millions of Dollars)
For the Nine Months Ended For the Fiscal Years Ended --------------------- ------------------------------------------------------------ Sept. 29, Oct. 1, Dec. 31, Dec. 25, Dec. 26, Dec. 27, Dec. 29, 2000 1999 1999 1998 1997 1996 1995 --------------------- ------------------------------------------------------------ EARNINGS: Earnings Before Income Taxes $ 196 $ 153 $ 104 $ 744 $1,159 $1,299 $ 961 Interest Expense 413 393 521 506 451 249 270 Amortization of Debt Discount - - - 1 4 2 2 Interest Portion of Fixed Rent 86 116 151 183 196 188 183 Undistributed Earnings of Unconsolidated Subsidiaries (5) (100) (58) (238) (150) (6) 3 ------ ------ ------ ------ ------ ------ ------ Earnings, as Adjusted $ 690 $ 562 $ 718 $1,196 $1,660 $1,732 $1,419 ====== ====== ====== ====== ====== ====== ====== FIXED CHARGES: Interest Expense $ 413 $ 393 $ 521 $ 506 $ 451 $ 249 $ 270 Capitalized Interest 5 4 8 9 3 5 6 Amortization of Debt Discount - - - 1 4 2 2 Interest Portion of Fixed Rent 86 116 151 183 196 188 183 ------ ------ ------ ------ ------ ------ ------ Fixed Charges $ 504 $ 513 $ 680 $ 699 $ 654 $ 444 $ 461 ====== ====== ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 1.4x 1.1x 1.1x 1.7x 2.5x 3.9x 3.1x ====== ====== ====== ====== ====== ====== ======