Attached files

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EX-32 - EX-32 - UNION PACIFIC CORPunp-20170331xex32.htm
EX-31. (B) - EX-31. (B) - UNION PACIFIC CORPunp-20170331xex31_b.htm
EX-31. (A) - EX-31. (A) - UNION PACIFIC CORPunp-20170331xex31_a.htm
10-Q - 10-Q - UNION PACIFIC CORPunp-20170331x10q.htm

Exhibit 12



RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies





 

 

 

 



 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Three Months Ended March 31,

2017  2016 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

172 

$

167 

  Portion of rentals representing an interest factor

 

20 

 

24 

Total fixed charges

$

192 

$

191 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

1,072 

$

979 

  Equity earnings net of distributions

 

(10)

 

(21)

  Income taxes

 

616 

 

587 

  Fixed charges

 

192 

 

191 

Earnings available for fixed charges

$

1,870 

$

1,736 

Ratio of earnings to fixed charges

 

9.7 

 

9.1 



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