UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in Thousands, Except Ratios)
(Unaudited)
Six Months
Ended June 30,
1997 1996
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Earnings:
Income from continuing operations.......... $343,786 $292,824
Undistributed equity earnings.............. (15,496) (21,158)
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Total............................ 328,290 271,666
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Income Taxes................................. 208,538 129,429
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Fixed Charges:
Interest expense including amortization of
debt discount........... .............. 296,097 230,845
Portion of rentals representing an interest
factor................................. 91,329 54,089
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Total............................ 387,426 284,934
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Earnings available for fixed charges......... $924,254 $686,029
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Total fixed charges -- as above.............. $387,426 $284,934
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Ratio of earnings to fixed charges (Note 5).. 2.4 2.4
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