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. 29, 2006 | Dec. 30, 2005 | Dec. 31, 2004 | Dec. 26, 2003 | Dec. 27, 2002 | ||||||||||||
EARNINGS: | ||||||||||||||||
Earnings before Income Taxes | $1,841 | $1,036 | $637 | $195 | $652 | |||||||||||
Interest Expense | 392 | 423 | 435 | 418 | 445 | |||||||||||
Interest Portion of Fixed Rent | 48 | 56 | 46 | 62 | 77 | |||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (48 | ) | (56 | ) | (139 | ) | (32 | ) | (38 | ) | ||||||
Earnings, as Adjusted | $2,233 | $1,459 | $979 | $643 | $1,136 | |||||||||||
FIXED CHARGES: | ||||||||||||||||
Interest Expense | $392 | $423 | $435 | $418 | $445 | |||||||||||
Capitalized Interest | 3 | 2 | 3 | 3 | 3 | |||||||||||
Interest Portion of Fixed Rent | 48 | 56 | 46 | 62 | 77 | |||||||||||
Fixed Charges | $443 | $481 | $484 | $483 | $525 | |||||||||||
Ratio of Earnings to Fixed Charges | 5.0x | 3.0x | 2.0x | 1.3x | 2.2x |