EX-12 11 0011.txt RATIO OF EARNINGS TO FIXED CHARGES 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. 29, 2000 DEC. 31, 1999 DEC. 25, 1998 DEC. 26, 1997 DEC. 27, 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 1.4 x 1.1 x 1.7 x 2.5 x 3.9 x ---------------------------------------------------------------------------------