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. 31, 2017 | Dec. 30, 2016 | Dec. 25, 2015 | Dec. 26, 2014 | Dec. 27, 2013 | ||||||||||||||||
EARNINGS: | ||||||||||||||||||||
Earnings before Income Taxes | $ | 3,142 | $ | 2,741 | $ | 3,138 | $ | 3,044 | $ | 2,922 | ||||||||||
Interest Expense | 546 | 578 | 544 | 545 | 561 | |||||||||||||||
Amortization of debt discount | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||
Interest Portion of Fixed Rent | 12 | 12 | 14 | 21 | 26 | |||||||||||||||
Undistributed Earnings of Unconsolidated Subsidiaries | (207 | ) | (51 | ) | (42 | ) | (43 | ) | (42 | ) | ||||||||||
Earnings, as Adjusted | $ | 3,490 | $ | 3,278 | $ | 3,650 | $ | 3,564 | $ | 3,464 | ||||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest Expense | $ | 546 | $ | 578 | $ | 544 | $ | 545 | $ | 561 | ||||||||||
Capitalized Interest | 26 | 25 | 26 | 26 | 21 | |||||||||||||||
Amortization of debt discount | (3 | ) | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||||||||
Interest Portion of Fixed Rent | 12 | 12 | 14 | 21 | 26 | |||||||||||||||
Fixed Charges | $ | 581 | $ | 613 | $ | 581 | $ | 590 | $ | 606 | ||||||||||
Ratio of Earnings to Fixed Charges | 6.0 | x | 5.3 | x | 6.3 | x | 6.0 | x | 5.7 | x |