"KANSAS CITY SOUTHERN INDUSTRIES, INC."
AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES-
Years Ended December 31,
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1999 1998 1997 1996 1995
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Earnings:
"Pretax Income (Loss), excluding equity in "
earnings of unconsolidated affilites $551.8 $331.5 $64.0 $167.2 $484.5
Interest Expense on Indebtedness 63.3 66.1 63.7 59.6 77.0
Portion of Rents Representative
of an Appropriate Interest Factor 23.4 23.5 21.3 13.9 17.2
Equity in Undistributed Earnings of
50% Owned Affiliates 5.6 (2.3) 2.8 0.8 5.7
Distributed Earnings of Less Than 50%
Owned Affiliates - - - 3.7 0.9
Fixed Charges of 50% Owned Affiliates 5.1 6.0 6.0 1.3 1.3
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Income (Loss) as Adjusted $649.2 $424.8 $157.8 $246.5 $586.6
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Fixed Charges:
Interest Expense on Indebtedness $63.3 $66.1 $63.7 $59.6 $77.0
Capitalized Interest - - 7.4 - -
Portion of Rents Representative
of an Appropriate Interest Factor 23.4 23.5 21.3 13.9 17.2
Fixed Charges of 50% Owned Affiliates 5.1 6.0 6.0 1.3 1.3
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Total Fixed Charges $91.8 $95.6 $98.4 $74.8 $95.5
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Ratio of Earnings to Fixed Charges 7.07 4.44 (a) 1.60 (b) 3.30 6.14
(a) Includes one-time non-cash charge of $36.0 million ($23.2 million after-
tax) resulting from the merger of a wholly owned subsidiary of DST with
USCS International, Inc. Excluding this one-time item, the ratio for 1998
is 4.75."
"(b) Includes one-time restructuring, asset impairment and other charges.
Excluding these one-time items, the ratio for 1997 is 3.60."
Note: Exclude amortization expense on intangible debt discount due to
immateriality