EX-12.1 2 csx09282012ex12.htm 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
(Dollars in Millions)

| For the Nine Months Ended |  | For the Fiscal Years Ended
| Sep. 28, 2012 |  | Dec. 30, 2011 | Dec. 31, 2010 | Dec. 25, 2009 | Dec. 26, 2008 | Dec. 28, 2007
EARNINGS: |  |  |  |  |  |  |
Earnings before Income Taxes | $ | 2,246 |  |  | $ | 2,888 |  | $ | 2,546 |  | $ | 1,746 |  | $ | 2,332 |  | $ | 1,935 |
Interest Expense | 421 |  |  | 552 |  | 557 |  | 558 |  | 519 |  | 417 |
Amortization of debt discount | (2) |  |  | (3) |  | (3) |  | (4) |  | 5 |  | 4 |
Interest Portion of Fixed Rent | 15 |  |  | 17 |  | 17 |  | 23 |  | 28 |  | 32 |
Undistributed Earnings of Unconsolidated Subsidiaries | (18) |  |  | (30) |  | (33) |  | (42) |  | (75) |  | (61) |
Earnings, as Adjusted: | $ | 2,662 |  |  | $ | 3,424 |  | $ | 3,084 |  | $ | 2,281 |  | $ | 2,809 |  | $ | 2,327 |
FIXED CHARGES: |  |  |  |  |  |  |
Interest Expense | $ | 421 |  |  | $ | 552 |  | $ | 557 |  | $ | 558 |  | $ | 519 |  | $ | 417 |
Capitalized Interest | 14 |  |  | 15 |  | 10 |  | 8 |  | 9 |  | 5 |
Amortization of debt discount | (2) |  |  | (3) |  | (3) |  | (4) |  | 5 |  | 4 |
Interest Portion of Fixed Rent | 15 |  |  | 17 |  | 17 |  | 23 |  | 28 |  | 32 |
Fixed Charges | $ | 448 |  |  | $ | 581 |  | $ | 581 |  | $ | 585 |  | $ | 561 |  | $ | 458 |
Ratio of Earnings to Fixed Charges | 5.9x |  |  | 5.9x |  | 5.3x |  | 3.9x |  | 5.0x |  | 5.1x |