Attached files
| file | filename |
|---|---|
| EX-99 - EXHIBIT 99 - NORFOLK SOUTHERN CORP | nsc201610-kexhibit992.htm |
| EX-32 - EXHIBIT 32 - NORFOLK SOUTHERN CORP | nsc201610-kexhibit322.htm |
| EX-31.B - EXHIBIT 31.B - NORFOLK SOUTHERN CORP | nsc201610-kexhibit31b2.htm |
| EX-31.A - EXHIBIT 31.A - NORFOLK SOUTHERN CORP | nsc201610-kexhibit31a2.htm |
| EX-23 - EXHIBIT 23 - NORFOLK SOUTHERN CORP | nsc201610-kexhibit232.htm |
| EX-21 - EXHIBIT 21 - NORFOLK SOUTHERN CORP | nsc10-kexhibit212.htm |
| EX-10.FFF - EXHIBIT 10.FFF - NORFOLK SOUTHERN CORP | nsc10-kexhibit10fff.htm |
| EX-10.EEE - EXHIBIT 10.EEE - NORFOLK SOUTHERN CORP | nsc10-kexhibit10eee.htm |
| EX-10.DDD - EXHIBIT 10.DDD - NORFOLK SOUTHERN CORP | nsc10-kexhibit10ddd.htm |
| EX-10.AA - EXHIBIT 10.AA - NORFOLK SOUTHERN CORP | nsc10-kexhibit10aa.htm |
| 10-K - 10-K - NORFOLK SOUTHERN CORP | nsc1231201710-knew.htm |
Exhibit 12
Norfolk Southern Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||
($ in millions) | |||||||||||||||
EARNINGS | |||||||||||||||
Income from continuing operations before income | |||||||||||||||
taxes as reported | $ | 3,128 | $ | 2,582 | $ | 2,442 | $ | 3,134 | $ | 2,965 | |||||
Add (subtract): | |||||||||||||||
Total interest expenses (as detailed below) | 588 | 602 | 584 | 592 | 576 | ||||||||||
Amortization of capitalized interest | 13 | 12 | 12 | 11 | 12 | ||||||||||
Income of partially owned entities(1) | (220 | ) | (61 | ) | (50 | ) | (46 | ) | (51 | ) | |||||
Total earnings | $ | 3,509 | $ | 3,135 | $ | 2,988 | $ | 3,691 | $ | 3,502 | |||||
FIXED CHARGES | |||||||||||||||
Interest expense on debt | $ | 550 | $ | 563 | $ | 545 | $ | 545 | $ | 525 | |||||
Interest expense on unrecognized tax benefit | — | 1 | (3 | ) | 1 | 1 | |||||||||
Other interest expense | 8 | 6 | 7 | 11 | 11 | ||||||||||
Calculated interest portion of rent expense(2) | 30 | 32 | 35 | 35 | 39 | ||||||||||
Total interest expenses | 588 | 602 | 584 | 592 | 576 | ||||||||||
Capitalized interest | 20 | 20 | 21 | 19 | 18 | ||||||||||
Total fixed charges | $ | 608 | $ | 622 | $ | 605 | $ | 611 | $ | 594 | |||||
RATIO OF EARNINGS TO FIXED CHARGES | 5.77 | 5.04 | 4.94 | 6.04 | 5.90 | ||||||||||
(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.