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10-Q - 10-Q - UNION PACIFIC CORPunp-20170930x10q.htm
EX-32 - EX-32 - UNION PACIFIC CORPunp-20170930xex32.htm
EX-31.(B) - EX-31.(B) - UNION PACIFIC CORPunp-20170930xex31_b.htm
EX-31.(A) - EX-31.(A) - UNION PACIFIC CORPunp-20170930xex31_a.htm
EX-12.(A) - EX-12.(A) - UNION PACIFIC CORPunp-20170930xex12_a.htm
EX-10 - EX-10 - UNION PACIFIC CORPunp-20170930xex10.htm

Exhibit 12(b)



RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Union Pacific Corporation and Subsidiary Companies





 

 

 

 



 

 

 

 

Millions, Except for Ratios

 

 

 

 

for the Nine Months Ended September 30,

2017  2016 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

531 

$

524 

  Portion of rentals representing an interest factor

 

57 

 

64 

Total fixed charges

$

588 

$

588 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

3,434 

$

3,089 

  Equity earnings net of distributions

 

(54)

 

(57)

  Income taxes

 

2,106 

 

1,846 

  Fixed charges

 

588 

 

588 

Earnings available for fixed charges

$

6,074 

$

5,466 

Ratio of earnings to fixed charges

 

10.3 

 

9.3