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, 2015 | Dec. 26, 2014 | Dec. 27, 2013 | Dec. 28, 2012 | Dec. 30, 2011 | ||||||||||||||||
EARNINGS: | ||||||||||||||||||||
Earnings before Income Taxes | $ | 3,138 | $ | 3,044 | $ | 2,922 | $ | 2,971 | $ | 2,940 | ||||||||||
Interest Expense | 544 | 545 | 561 | 566 | 552 | |||||||||||||||
Amortization of debt discount | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||
Interest Portion of Fixed Rent | 14 | 21 | 26 | 27 | 29 | |||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (40 | ) | (43 | ) | (42 | ) | (29 | ) | (30 | ) | ||||||||||
Earnings, as Adjusted | $ | 3,653 | $ | 3,564 | $ | 3,464 | $ | 3,532 | $ | 3,488 | ||||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest Expense | $ | 544 | $ | 545 | $ | 561 | $ | 566 | $ | 552 | ||||||||||
Capitalized Interest | 26 | 26 | 21 | 20 | 15 | |||||||||||||||
Amortization of debt discount | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||
Interest Portion of Fixed Rent | 14 | 21 | 26 | 27 | 29 | |||||||||||||||
Fixed Charges | $ | 581 | $ | 590 | $ | 606 | $ | 610 | $ | 593 | ||||||||||
Ratio of Earnings to Fixed Charges | 6.3 | x | 6.0 | x | 5.7 | x | 5.8 | x | 5.9 | x | ||||||||||
