Exhibit 12
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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(In Thousands, Except Ratios)
(Unaudited)
Nine Months
Ended September 30,
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1998 1997
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Earnings:
Income (Loss) from continuing operations....... $(191) $ 585
Undistributed equity earnings.................. (34) (26)
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Total................................ (225) 559
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Income Taxes..................................... (140) 329
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Fixed Charges:
Interest expense including amortization of
debt discount.............................. 526 451
Portion of rentals representing an interest
factor..................................... 134 126
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Total................................ 660 577
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Earnings available for fixed charges............. $ 295 $1,465
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Total Fixed Charges -- as above.................. $ 660 $ 577
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Ratio of earnings to fixed charges (Note 5)...... 0.4 2.5
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