Union Pacific 2010 Annual Report Download - page 95

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95
Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
Union Pacific Corporation and Subsidiary Companies
Millions, Except for Ratios 2010 2009 2008 2007 2006
Fixed charges:
Interest expense including
amortization of debt discount $ 602 $ 600 $ 511 $ 482 $ 477
Portion of rentals representing an interest factor 136 155 226 237 243
Total fixed charges $ 738 $ 755 $ 737 $ 719 $ 720
Earnings available for fixed charges:
Net income $ 2,780 $ 1,890 $ 2,335 $ 1,848 $ 1,598
Equity earnings net of distributions (44) (42) (53) (69) (59)
Income taxes 1,653 1,084 1,316 1,150 914
Fixed charges 738 755 737 719 720
Earnings available for fixed charges $ 5,127 $ 3,687 $ 4,335 $ 3,648 $ 3,173
Ratio of earnings to fixed charges 6.9 4.9 5.9 5.1 4.4