Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
CSX Corporation
Ratio of Earnings to Fixed Charges
(Millions of Dollars)
For the Nine Months Ended September 23, 2016 | ||||||||||||||||||||||||
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 | $ | 1,990 | $ | 3,138 | 3,044 | $ | 2,922 | $ | 2,971 | $ | 2,940 | |||||||||||||
Interest Expense | $ | 423 | 544 | 545 | 561 | 566 | 552 | |||||||||||||||||
Amortization of debt discount | $ | (2 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | |||||||||||
Interest Portion of Fixed Rent | $ | 11 | 14 | 21 | 26 | 27 | 29 | |||||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | $ | (37 | ) | (42 | ) | (43 | ) | (42 | ) | (29 | ) | (30 | ) | |||||||||||
Earnings, as Adjusted | $ | 2,385 | $ | 3,650 | 3,564 | $ | 3,464 | $ | 3,532 | $ | 3,488 | |||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense | $ | 423 | $ | 544 | 545 | $ | 561 | $ | 566 | $ | 552 | |||||||||||||
Capitalized Interest | $ | 18 | 26 | 26 | 21 | 20 | 15 | |||||||||||||||||
Amortization of debt discount | $ | (2 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | |||||||||||
Interest Portion of Fixed Rent | $ | 11 | 14 | 21 | 26 | 27 | 29 | |||||||||||||||||
Fixed Charges | $ | 450 | $ | 581 | 590 | $ | 606 | $ | 610 | $ | 593 | |||||||||||||
Ratio of Earnings to Fixed Charges | 5.3x | 6.3x | 6.0x | 5.7x | 5.8x | 5.9x |