EX-12.1 7 d250775dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

CSX Corporation

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

		For the Nine Months Ended				For the Fiscal Years Ended
		September 30, 2011				Dec. 31, 2010				Dec. 25, 2009				Dec. 26, 2008				Dec. 28, 2007				Dec. 29, 2006
EARNINGS:
Earnings before Income Taxes		$	2,176			$	2,546			$	1,746			$	2,332			$	1,935			$	1,841
Interest Expense			412				557				558				519				417				392
Amortization of debt discount			—				—				—				—				—				4
Interest Portion of Fixed Rent			15				21				26				32				38				47
Undistributed Earnings of Unconsolidated Subsidiaries			(21	)			(33	)			(42	)			(75	)			(61	)			(48	)
Earnings, as Adjusted		$	2,581			$	3,091			$	2,288			$	2,808			$	2,329			$	2,236
FIXED CHARGES:
Interest Expense		$	412			$	557			$	558			$	519			$	417			$	392
Capitalized Interest			7				8				7				7				5				3
Amortization of debt discount			—				—				—				—				—				4
Interest Portion of Fixed Rent			15				21				26				32				38				47
Fixed Charges		$	433			$	586			$	591			$	558			$	460			$	446
Ratio of Earnings to Fixed Charges			5.96x				5.3x				3.9x				5.0x				5.1x				5.0x