Exhibit 12.1



                Computation of Ratio of Earnings to Fixed Charges

                                 CSX Corporation

                       Ratio of Earnings to Fixed Charges

                              (Millions of Dollars)




                                                     For the Three
                                                      Months Ended                   For the Fiscal Years Ended
                                                   --------------------   -------------------------------------------------
                                                   Mar. 30,    Mar. 31,   Dec. 29,  Dec. 31,  Dec. 25,  Dec. 26,   Dec. 27,
                                                     2001        2000       2000      1999      1998      1997       1996
                                                   --------- ----------   -------- --------- --------- ---------- ---------
                                                                                             
EARNINGS:

    Earnings Before Income Taxes                      $27        $35       $277       $104       $744     $1,159    $1,299

    Interest Expense                                  131        134        543        521        506        451       249

    Amortization of Debt Discount                      (1)         -          1          -          1          4         2

    Interest Portion of Fixed Rent                     23         27        109        151        183        196       188

    Undistributed Loss (Earnings) of
    Unconsolidated Subsidiaries                         5        (11)       (18)       (58)      (238)      (150)       (6)
                                                  -------    -------    -------    -------    -------    -------   -------


Earnings, as Adjusted                                $185       $185       $912       $718     $1,196     $1,660    $1,732
                                                  =======    =======    =======    =======    =======    =======   =======


FIXED CHARGES:

    Interest Expense                                 $131       $134       $543       $521       $506       $451      $249

    Capitalized Interest                                1          2          6          8          9          3         5

    Amortization of Debt Discount                      (1)         -          1          -          1          4         2

    Interest Portion of Fixed Rent                     23         27        109        151        183        196       188
                                                  -------    -------    -------    -------    -------    -------   -------


Fixed Charges                                         154        163        659       $680       $699       $654      $444
                                                  =======    =======    =======    =======    =======    =======   =======


Ratio of Earnings to Fixed Charges                   1.2x       1.1x       1.4x       1.1x       1.7x       2.5x      3.9x
                                                  =======    =======    =======    =======    =======    =======   =======