EX-12 12 dex12.txt EXHIBIT 12 Exhibit 12 Computation of Earnings to Fixed Charges CSX Corporation Ratio of Earnings to Fixed Charges (Millions of Dollars)
FOR THE FISCAL YEARS ENDED -------------------------------------------------------------------- DEC. 28, 2001 DEC. 29, 2000 DEC. 31, 1999 DEC. 25, 1998 --------------- --------------- --------------- --------------- Earnings: Earnings Before Income Taxes $ 448 $ 277 $ 104 $ 744 Interest Expense $ 518 $ 550 $ 528 $ 513 Amortization of debt discount $ - $ 1 $ - $ 1 Interest Portion of Fixed Rent $ 88 $ 109 $ 151 $ 183 Undistributed earnings of unconsolidated subsidiaries $ (2) $ (18) $ (58) $ (238) --------------- -------------- --------------- --------------- Earnings, as Adjusted $ 1,052 $ 919 $ 725 $ 1,203 --------------- -------------- --------------- --------------- Fixed Charges: Interest Expense $ 518 $ 550 $ 528 $ 513 Capitalized Interest $ 7 $ 6 $ 8 $ 9 Amortization of Debt Discount $ - $ 1 $ - $ 1 Interest Portion of Fixed Rent $ 88 $ 109 $ 151 $ 183 --------------- --------------- --------------- --------------- Fixed Charges $ 613 $ 666 $ 687 $ 706 --------------- --------------- --------------- --------------- -------------------------------------------------------------------- Ratio of Earnings to Fixed Charges 1.7 x 1.4 x 1.1 x 1.7 x -------------------------------------------------------------------- --------------- DEC. 26, 1997 --------------- Earnings: Earnings Before Income Taxes $ 1,159 Interest Expense $ 458 Amortization of debt discount $ 4 Interest Portion of Fixed Rent $ 196 Undistributed earnings of unconsolidated subsidiaries $ (150) --------------- Earnings, as Adjusted $ 1,667 --------------- Fixed Charges: Interest Expense $ 458 Capitalized Interest $ 3 Amortization of Debt Discount $ 4 Interest Portion of Fixed Rent $ 196 --------------- Fixed Charges $ 661 --------------- --------------------------- Ratio of Earnings to Fixed Charges 2.5 x ---------------------------