Page 1 of 2 KANSAS CITY SOUTHERN INDUSTRIES, INC. AND SUBSIDIARY COMPANIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES- EXCLUDING INTEREST ON DEPOSITS OF IFTC (Dollars in Millions) Years Ended December 31, 1994 1993 1992 1991 1990 Pretax Income, excluding equity in earnings of unconsolidated affiliates $148.9 $160.9 $ 92.8 $ 66.2 $ 56.3 Interest expense on Indebtedness 53.6 51.2 33.1 32.1 31.4 Portion of Rents Representative of an Appropriate Interest Factor 17.7 11.0 8.3 5.7 5.3 Equity in Undistributed Earnings of 50% Owned Affiliates 15.6 9.0 8.2 7.0 3.9 Distributed Earnings of Less Than 50% Owned Affiliates 0.1 0.5 0.6 0.2 0.3 Fixed Charges of 50% Owned Affiliates 0.9 1.4 1.0 1.3 1.6 Income as Adjusted $236.8 $234.0 $144.0 $112.5 $ 98.8 Fixed Charges: Interest Expense on Indebtedness $ 53.6 $ 51.2 $ 33.1 $ 32.1 $ 31.4 Portion of Rents Representative of an Appropriate Interest Factor 17.7 11.0 8.3 5.7 5.3 Fixed Charges of 50% Owned Affiliates 0.9 1.4 1.0 1.3 1.6 Total Fixed Charges $ 72.2 $ 63.6 $ 42.4 $ 39.1 $ 38.3 Ratio of Earnings to Fixed Charges Excluding Interest on Deposits of IFTC 3.28 3.68 3.40 2.88 2.58 Page 2 of 2 KANSAS CITY SOUTHERN INDUSTRIES, INC. AND SUBSIDIARY COMPANIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES- INCLUDING INTEREST ON DEPOSITS OF IFTC (Dollars in Millions) Years Ended December 31, 1994 1993 1992 1991 1990 Pretax Income, excluding equity in earnings of unconsolidated affiliates $148.9 $160.9 $ 92.8 $ 66.2 $ 56.3 Interest expense on Indebtedness 53.6 51.2 33.1 32.1 31.4 Portion of Rents Representative of an Appropriate Interest Factor 17.7 11.0 8.3 5.7 5.3 Equity in Undistributed Earnings of 50% Owned Affiliates 15.6 9.0 8.2 7.0 3.9 Distributed Earnings of Less Than 50% Owned Affiliates 0.1 0.5 0.6 0.2 0.3 Fixed Charges of 50% Owned Affiliates 5.5 7.8 9.8 13.0 12.3 Income as Adjusted $241.4 $240.4 $152.8 $124.2 $109.5 Fixed Charges: Interest Expense on Indebtedness $ 53.6 $ 51.2 $ 33.1 $ 32.1 $ 31.4 Portion of Rents Representative of an Appropriate Interest Factor 17.7 11.0 8.3 5.7 5.3 Fixed Charges of 50% Owned Affiliates 5.5 7.8 9.8 13.0 12.3 Total Fixed Charges $ 76.8 $ 70.0 $ 51.2 $ 50.8 $ 49.0 Ratio of Earnings to Fixed Charges Including Interest on Deposits of IFTC 3.14 3.43 2.98 2.44 2.23