EX-12 5 c55369exv12.htm EX-12

exv12

Exhibit 12

GATX CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

		Year Ended December 31
		2009				2008				2007				2006				2005
		In millions, except ratios
Earnings available for fixed charges:
Income from continuing operations before income taxes		$	107.9			$	267.6			$	255.4			$	220.9			$	166.3
Add (deduct):
Share of affiliates’ earnings, net of distributions received			7.0				(34.4	)			(36.3	)			(39.9	)			(33.5	)
Total fixed charges			236.9				230.2				230.7				244.8				229.4
Total earnings available for fixed charges		$	351.8			$	463.4			$	449.8			$	425.8			$	362.2
Fixed charges:
Interest expense		$	168.0			$	151.6			$	141.4			$	143.6			$	114.5
Capitalized interest			—				—				0.1				0.1				—
Interest portion of operating lease expense			68.8				78.5				89.1				101.0				114.8
Preferred dividends on pre-tax basis			0.1				0.1				0.1				0.1				0.1
Total fixed charges		$	236.9			$	230.2			$	230.7			$	244.8			$	229.4
Ratio of earnings to fixed charges			1.49				2.01				1.95				1.74				1.58

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