EX-12.1 5 dex121.txt RATIO OF EARNINGS TO FIXED CHARGES 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. 28, Dec. 29, Dec. 31, Dec.25, Dec. 26, 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- EARNINGS: Earnings Before Income Taxes $ 448 $ 277 $ 104 $ 744 $ 1,159 Interest Expense 518 550 528 513 458 Amortization of Debt Discount -- 1 -- 1 4 Interest Portion of Fixed Rent 88 109 151 183 196 Undistributed Earnings of Unconsolidated Subsidiaries (2) (18) (58) (238) (150) -------- -------- -------- -------- -------- Earnings, as Adjusted 1,052 $ 919 $ 725 $ 1,203 $ 1,667 ======== ======== ======== ======== ======== FIXED CHARGES: Interest Expense 518 $ 550 $ 528 $ 513 $ 458 Capitalized Interest 7 6 8 9 3 Amortization of Debt Discount -- 1 -- 1 4 Interest Portion of Fixed Rent 88 109 151 183 196 -------- -------- -------- -------- -------- Fixed Charges 613 666 $ 687 $ 706 $ 661 ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges 1.7x 1.4x 1.1x 1.7x 2.5x ======== ======== ======== ======== ========