Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - NORFOLK SOUTHERN CORP | nsc10-kexhibit321.htm |
| EX-23 - EXHIBIT 23 - NORFOLK SOUTHERN CORP | nsc10-kexhibit231.htm |
| EX-21 - EXHIBIT 21 - NORFOLK SOUTHERN CORP | nsc10-kexhibit211.htm |
| EX-99 - EXHIBIT 99 - NORFOLK SOUTHERN CORP | nsc10-kexhibit991.htm |
| EX-31.B - EXHIBIT 31.B - NORFOLK SOUTHERN CORP | nsc10-kexhibit31b1.htm |
| EX-31.A - EXHIBIT 31.A - NORFOLK SOUTHERN CORP | nsc10-kexhibit31a1.htm |
| EX-10.HH - EXHIBIT 10.HH - NORFOLK SOUTHERN CORP | nsc10-kexhibit10hh1.htm |
| EX-10.GGG - EXHIBIT 10.GGG - NORFOLK SOUTHERN CORP | nsc10-kexhibit10ggg1.htm |
| EX-10.JJJ - EXHIBIT 10.JJJ - NORFOLK SOUTHERN CORP | nsc10-kexhibit10jjj1.htm |
| EX-10.III - EXHIBIT 10.III - NORFOLK SOUTHERN CORP | nsc10-kexhibit10iii1.htm |
| EX-10.HHH - EXHIBIT 10.HHH - NORFOLK SOUTHERN CORP | nsc10-kexhibit10hhh1.htm |
| 10-K - 10-K - NORFOLK SOUTHERN CORP | nsc1231201510-k.htm |
| EX-10.OOO - EXHIBIT 10.OOO - NORFOLK SOUTHERN CORP | nsc10-kexhibit10ooo1.htm |
Exhibit 12
Norfolk Southern Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||
EARNINGS | |||||||||||||||
Income from continuing operations before income | |||||||||||||||
taxes as reported | $ | 2,442 | $ | 3,134 | $ | 2,965 | $ | 2,758 | $ | 2,918 | |||||
Add (subtract): | |||||||||||||||
Total interest expenses (as detailed below) | 584 | 592 | 576 | 546 | 504 | ||||||||||
Amortization of capitalized interest | 12 | 11 | 12 | 10 | 9 | ||||||||||
Income of partially owned entities(1) | (50 | ) | (46 | ) | (51 | ) | (45 | ) | (39 | ) | |||||
Total earnings | $ | 2,988 | $ | 3,691 | $ | 3,502 | $ | 3,269 | $ | 3,392 | |||||
FIXED CHARGES | |||||||||||||||
Interest expense on debt | $ | 545 | $ | 545 | $ | 525 | $ | 495 | $ | 455 | |||||
Interest expense on unrecognized tax benefit | (3 | ) | 1 | 1 | (1 | ) | (9 | ) | |||||||
Other interest expense | 7 | 11 | 11 | 10 | 12 | ||||||||||
Calculated interest portion of rent expense(2) | 35 | 35 | 39 | 42 | 46 | ||||||||||
Total interest expenses | 584 | 592 | 576 | 546 | 504 | ||||||||||
Capitalized interest | 21 | 19 | 18 | 20 | 19 | ||||||||||
Total fixed charges | $ | 605 | $ | 611 | $ | 594 | $ | 566 | $ | 523 | |||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.94 | 6.04 | 5.90 | 5.78 | 6.49 | ||||||||||
(1) Represents undistributed income of equity investees included in income from continuing operations before income taxes as reported.
(2) Interest component of leases includes one-third of rental expense which approximates the interest component of operating leases.