Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
CSX Corporation
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Three Months Ended | For the Fiscal Years Ended | |||||||||||||||||||||||
April 1, 2011 | Dec. 31, 2010 | Dec. 25, 2009 | Dec. 26, 2008 | Dec. 28, 2007 | Dec. 29, 2006 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Earnings before Income Taxes | $ | 638 | $ | 2,546 | $ | 1,746 | $ | 2,332 | $ | 1,935 | $ | 1,841 | ||||||||||||
Interest Expense | 140 | 557 | 558 | 519 | 417 | 392 | ||||||||||||||||||
Amortization of debt discount | — | — | — | — | — | 4 | ||||||||||||||||||
Interest Portion of Fixed Rent | 5 | 21 | 26 | 32 | 38 | 47 | ||||||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (4 | ) | (33 | ) | (42 | ) | (75 | ) | (61 | ) | (48 | ) | ||||||||||||
Earnings, as Adjusted | $ | 779 | $ | 3,091 | $ | 2,288 | $ | 2,808 | $ | 2,329 | $ | 2,236 | ||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense | $ | 140 | $ | 557 | $ | 558 | $ | 519 | $ | 417 | $ | 392 | ||||||||||||
Capitalized Interest | 2 | 8 | 7 | 7 | 5 | 3 | ||||||||||||||||||
Amortization of debt discount | — | — | — | — | — | 4 | ||||||||||||||||||
Interest Portion of Fixed Rent | 5 | 21 | 26 | 32 | 38 | 47 | ||||||||||||||||||
Fixed Charges | $ | 147 | $ | 586 | $ | 591 | $ | 558 | $ | 460 | $ | 446 | ||||||||||||
Ratio of Earnings to Fixed Charges | 5.3x | 5.3x | 3.9x | 5.0x | 5.1x | 5.0x | ||||||||||||||||||