EX-12.1 9 d273689dex121.htm EX-12.1

EX-12.1

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 September 23, 2016
						For the Fiscal Years Ended
						Dec. 25, 2015				Dec. 26, 2014				Dec. 27, 2013				Dec. 28, 2012				Dec. 30, 2011
EARNINGS:
Earnings before Income Taxes		$	1,990			$	3,138				3,044			$	2,922			$	2,971			$	2,940
Interest Expense		$	423				544				545				561				566				552
Amortization of debt discount		$	(2	)			(3	)			(3	)			(3	)			(3	)			(3	)
Interest Portion of Fixed Rent		$	11				14				21				26				27				29
Undistributed Earnings of Unconsolidated Subsidiaries		$	(37	)			(42	)			(43	)			(42	)			(29	)			(30	)
Earnings, as Adjusted		$	2,385			$	3,650				3,564			$	3,464			$	3,532			$	3,488
FIXED CHARGES:
Interest Expense		$	423			$	544				545			$	561			$	566			$	552
Capitalized Interest		$	18				26				26				21				20				15
Amortization of debt discount		$	(2	)			(3	)			(3	)			(3	)			(3	)			(3	)
Interest Portion of Fixed Rent		$	11				14				21				26				27				29
Fixed Charges		$	450			$	581				590			$	606			$	610			$	593
Ratio of Earnings to Fixed Charges			5.3x				6.3x				6.0x				5.7x				5.8x				5.9x