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. 25, 2009 | Dec. 26, 2008 | Dec. 28, 2007 | Dec. 29, 2006 | Dec. 30, 2005 | ||||||||||||||||
EARNINGS: | ||||||||||||||||||||
Earnings before Income Taxes | $ | 1,761 | $ | 2,350 | $ | 1,948 | $ | 1,853 | $ | 1,029 | ||||||||||
Interest Expense | 558 | 519 | 417 | 392 | 423 | |||||||||||||||
Amortization of debt discount | – | – | – | 4 | 5 | |||||||||||||||
Interest Portion of Fixed Rent | 26 | 32 | 38 | 47 | 56 | |||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (41 | ) | (75 | ) | (60 | ) | (48 | ) | (56 | ) | ||||||||||
Earnings, as Adjusted | $ | 2,303 | $ | 2,826 | $ | 2,343 | $ | 2,249 | $ | 1,457 | ||||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest Expense | $ | 558 | $ | 519 | $ | 417 | $ | 392 | $ | 423 | ||||||||||
Capitalized Interest | 7 | 7 | 5 | 3 | 2 | |||||||||||||||
Amortization of debt discount | – | – | – | 4 | 5 | |||||||||||||||
Interest Portion of Fixed Rent | 26 | 32 | 38 | 47 | 56 | |||||||||||||||
Fixed Charges | $ | 591 | $ | 558 | $ | 460 | $ | 446 | $ | 487 | ||||||||||
Ratio of Earnings to Fixed Charges | 3.9 | x | 5.1 | x | 5.1 | x | 5.0 | x | 3.0 | x |