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EXHIBIT 12(b)
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
Six Months Ended June 30,
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Millions of Dollars Except Ratios 2000 1999
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Earnings
Net income ........................................................... $ 429 $ 323
Undistributed equity earnings ........................................ 60 (19)
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Total ................................................................ 489 304
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Income Taxes .............................................................. 247 159
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Fixed Charges:
Interest expense including amortization of debt discount ............. 362 370
Portion of rentals representing an interest factor ................... 86 92
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Total fixed charges .................................................. 448 462
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Earnings Available for Fixed Charges ...................................... $ 1,184 $ 925
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Ratio of earnings to fixed charges (Note 8) ............................... 2.6 2.0
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