EX-12.1 2 0002.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges CSX Corporation Ratio of Earnings to Fixed Charges (Millions of Dollars)
For the Fiscal Years Ended -------------------------------------------------------------- Dec. 29, Dec. 31, Dec. 25, Dec. 26, Dec. 27, 2000 1999 1998 1997 1996 -------------------------------------------------------------- EARNINGS: Earnings Before Income Taxes $ 277 $ 104 $ 744 $1,159 $1,299 Interest Expense 543 521 506 451 249 Amortization of Debt Discount 1 - 1 4 2 Interest Portion of Fixed Rent 109 151 183 196 188 Undistributed Earnings of Unconsolidated Subsidiaries (18) (58) (238) (150) (6) ----- ------ ------ ------ ------ Earnings, as Adjusted $ 912 $ 718 $1,196 $1,660 $1,732 ===== ====== ====== ====== ====== FIXED CHARGES: Interest Expense $ 543 $ 521 $ 506 $ 451 $ 249 Capitalized Interest 6 8 9 3 5 Amortization of Debt Discount 1 - 1 4 2 Interest Portion of Fixed Rent 109 151 183 196 188 ----- ------ ------ ------ ------ Fixed Charges $ 659 $ 680 $ 699 $ 654 $ 444 ===== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 1.4x 1.1x 1.7x 2.5x 3.9x ===== ====== ====== ====== ======