Union Pacific 2005 Annual Report Download - page 91

Download and view the complete annual report

Please find page 91 of the 2005 Union Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
Union Pacific Corporation and Subsidiary Companies
Millions of Dollars, Except for Ratios 2005 2004 2003 2002 2001
Earnings:
Income from continuing operations ...................... $1,026 $ 604 $1,056 $1,265 $ 934
Equity earnings net of distributions ...................... (48) (47) 15 (34) (48)
Total earnings ......................................... 978 557 1,071 1,231 886
Income taxes .......................................... 410 252 581 680 545
Fixed charges:
Interest expense including amortization of debt discount ..... 504 527 574 632 700
Portion of rentals representing an interest factor ............ 220 206 169 172 177
Total fixed charges ...................................... 724 733 743 804 877
Earnings available for fixed charges ........................ $2,112 $1,542 $2,395 $2,715 $2,308
Ratio of earnings to fixed charges .......................... 2.9 2.1 3.2 3.4 2.6
85