Exhibit 12.1

KANSAS CITY SOUTHERN

AND SUBSIDIARY COMPANIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	As of December 31st
	2003			2002		2001		2000			1999
Pretax income/(loss) from continuing operations, excluding equity in earnings of unconsolidated affilites	$	(10.5	)	$	20.7	$	6.8	$	(2.0	)	$	12.0
Interest Expense on Indebtedness		46.4			45.0		52.8		65.8			57.4
Portion of Rents Representative of an Appropriate Interest Factor		19.1			18.3		18.9		19.4			18.0
Distributed income of equity investments		—			—		3.0		5.0			—
Income (Loss) as Adjusted	$	55.0		$	84.0	$	81.5	$	88.2		$	87.4
Fixed Charges:
Interest Expense on Indebtedness	$	46.4		$	45.0	$	52.8	$	65.8		$	57.4
Capitalized Interest		—			1.7		4.2		—			—
Portion of Rents Representative of an Appropriate Interest Factor		19.1			18.3		18.9		19.4			18.0
Preferred Security Dividends as defined by Item 503(d)(B) of Regulation S-K		7.7			0.4		0.4		0.4			0.4
Total Fixed Charges	$	73.2		$	65.4	$	76.3	$	85.6		$	75.8
Ratio of Earnings to Fixed Charges		—	(a)		1.28		1.07		1.03			1.15

Note: Excludes amortization expense on debt discount due to immateriality

(a) For the year ended December 31, 2003, the ratio of earnings to fixed charges was less than 1:1. The ration of earnings to fixed charges would have been 1:1 if a deficiency of $18.2 million was eliminated.