EX-12.1 3 ex12-1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document
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 Quarters Ended      For the Fiscal Years Ended  
   
Mar. 26,
2010
    
Mar. 27,
2009
    
Dec. 25,
2009
    
Dec. 26,
2008
    
Dec. 28,
2007
    
Dec. 29,
2006
    
Dec. 30,
2005
  
EARNINGS:
                                          
Earnings before Income Taxes
   $ 502     $ 383     $ 1,761     $ 2,350     $ 1,948     $ 1,853     $ 1,029  
Interest Expense
     142       141       558       519       417       392       423  
Amortization of debt discount
     –       –       –       –       –       4       5  
Interest Portion of Fixed Rent
     6       7       26       32       38       47       56  
Undistributed Earnings of Unconsolidated Subsidiaries
     (5 )     (6 )     (41 )     (75 )     (60 )     (48 )     (56 )
 
Earnings, as Adjusted
   $ 645     $ 525     $ 2,303     $ 2,826     $ 2,343     $ 2,249     $ 1,457  
 
FIXED CHARGES:
                                                        
Interest Expense
   $ 142     $ 141     $ 558     $ 519     $ 417     $ 392     $ 423  
Capitalized Interest
     2       2       7       7       5       3       2  
Amortization of debt discount
     –       –       –       –       –       4       5  
Interest Portion of Fixed Rent
     6       7       26       32       38       47       56  
 
Fixed Charges
   $ 150     $ 150     $ 591     $ 558     $ 460     $ 446     $ 487  
 
Ratio of Earnings to Fixed Charges
     4.3 x     3.5 x     5.1 x     5.1 x     5.1 x     5.0 x     3.0 x