Exhibit 12

Norfolk Southern Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

		2015			2014			2013			2012			2011
EARNINGS
Income from continuing operations before income
taxes as reported	$	2,442		$	3,134		$	2,965		$	2,758		$	2,918
Add (subtract):
Total interest expenses (as detailed below)		584			592			576			546			504
Amortization of capitalized interest		12			11			12			10			9
Income of partially owned entities(1)		(50	)		(46	)		(51	)		(45	)		(39	)
Total earnings	$	2,988		$	3,691		$	3,502		$	3,269		$	3,392
FIXED CHARGES
Interest expense on debt	$	545		$	545		$	525		$	495		$	455
Interest expense on unrecognized tax benefit		(3	)		1			1			(1	)		(9	)
Other interest expense		7			11			11			10			12
Calculated interest portion of rent expense(2)		35			35			39			42			46
Total interest expenses		584			592			576			546			504
Capitalized interest		21			19			18			20			19
Total fixed charges	$	605		$	611		$	594		$	566		$	523
RATIO OF EARNINGS TO FIXED CHARGES		4.94			6.04			5.90			5.78			6.49

⁽¹⁾ Represents undistributed income of equity investees included in income from continuing operations before income taxes as reported.

⁽²⁾ Interest component of leases includes one-third of rental expense which approximates the interest component of operating leases.