EX-12.1 6 y96353a1exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Computation of Ratio of Earnings to Fixed Charges CSX Transportation, Inc. and Subsidiaries Ratio of Earnings to Fixed Charges (Millions of Dollars)
FOR THE QUARTER ENDED FOR THE FISCAL YEARS ENDED ------------- ------------------------------------------------------------------------- MAR. 26, 2004 DEC. 26, 2003 DEC. 27, 2002 DEC 28, 2001 DEC. 29, 2000 DEC. 31, 1999 ------------- ------------- ------------- ------------ ------------- ------------- Earnings: Earnings Before Income Taxes $63 $216 $479 $324 $170 $372 Interest Expense 26 101 113 130 120 77 Amortization of Debt Discount -- -- (1) -- -- -- Interest Portion of Fixed Rent 14 54 54 54 74 64 Undistributed Earnings of Unconsolidated Subsidiaries (6) (20) (19) (7) (14) (25) --- ---- ---- ---- ---- ---- Earnings, as Adjusted $97 $351 $626 $501 $350 $488 --- ---- ---- ---- ---- ---- Fixed Charges: Interest Expense $26 $101 $113 $130 $120 $ 77 Capitalized Interest (1) 3 3 6 6 8 Amortization of Debt Discount -- -- (1) -- -- -- Interest Portion of Fixed Rent 14 54 54 54 74 64 --- ---- ---- ---- ---- ---- Fixed Charges $39 $158 $169 $190 $200 $149 --- ---- ---- ---- ---- ---- --- ---- ---- ---- ---- ---- Ratio of Earnings to Fixed Charges 2.4x 2.2x 3.7x 2.6x 1.8x 3.3x --- ---- ---- ---- ---- ----