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 March 27, 2015 |
For the Fiscal Years Ended | |||||||||||||||||||||||
Dec. 26, 2014 | Dec. 27, 2013 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 31, 2010 | ||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Earnings before Income Taxes | $ | 711 | 3,044 | $ | 2,922 | $ | 2,971 | $ | 2,940 | $ | 2,527 | |||||||||||||
Interest Expense | 134 | 545 | 561 | 566 | 552 | 557 | ||||||||||||||||||
Amortization of debt discount | (1 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||||
Interest Portion of Fixed Rent | 21 | 21 | 26 | 27 | 29 | 31 | ||||||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (5 | ) | (43 | ) | (42 | ) | (29 | ) | (30 | ) | (33 | ) | ||||||||||||
Earnings, as Adjusted | $ | 860 | 3,564 | $ | 3,464 | $ | 3,532 | $ | 3,488 | $ | 3,079 | |||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense | $ | 134 | 545 | $ | 561 | $ | 566 | $ | 552 | $ | 557 | |||||||||||||
Capitalized Interest | 8 | 26 | 21 | 20 | 15 | 10 | ||||||||||||||||||
Amortization of debt discount | (1 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||||
Interest Portion of Fixed Rent | 21 | 21 | 26 | 27 | 29 | 31 | ||||||||||||||||||
Fixed Charges | $ | 162 | 590 | $ | 606 | $ | 610 | $ | 593 | $ | 595 | |||||||||||||
Ratio of Earnings to Fixed Charges | 5.3x | 6.0x | 5.7x | 5.8x | 5.9x | 5.2x |