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 Quarters Ended | For the Fiscal Years Ended | |||||||||||||||||||||||||||
Mar. 26, 2010 | Mar. 27, 2009 | Dec. 25, 2009 | Dec. 26, 2008 | Dec. 28, 2007 | Dec. 29, 2006 | Dec. 30, 2005 | ||||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||||||
Earnings before Income Taxes | $ | 502 | $ | 383 | $ | 1,761 | $ | 2,350 | $ | 1,948 | $ | 1,853 | $ | 1,029 | ||||||||||||||
Interest Expense | 142 | 141 | 558 | 519 | 417 | 392 | 423 | |||||||||||||||||||||
Amortization of debt discount | – | – | – | – | – | 4 | 5 | |||||||||||||||||||||
Interest Portion of Fixed Rent | 6 | 7 | 26 | 32 | 38 | 47 | 56 | |||||||||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (5 | ) | (6 | ) | (41 | ) | (75 | ) | (60 | ) | (48 | ) | (56 | ) | ||||||||||||||
Earnings, as Adjusted | $ | 645 | $ | 525 | $ | 2,303 | $ | 2,826 | $ | 2,343 | $ | 2,249 | $ | 1,457 | ||||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||||||
Interest Expense | $ | 142 | $ | 141 | $ | 558 | $ | 519 | $ | 417 | $ | 392 | $ | 423 | ||||||||||||||
Capitalized Interest | 2 | 2 | 7 | 7 | 5 | �� | 3 | 2 | ||||||||||||||||||||
Amortization of debt discount | – | – | – | – | – | 4 | 5 | |||||||||||||||||||||
Interest Portion of Fixed Rent | 6 | 7 | 26 | 32 | 38 | 47 | 56 | |||||||||||||||||||||
Fixed Charges | $ | 150 | $ | 150 | $ | 591 | $ | 558 | $ | 460 | $ | 446 | $ | 487 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 4.3 | x | 3.5 | x | 5.1 | x | 5.1 | x | 5.1 | x | 5.0 | x | 3.0 | x |