Attached files

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EX-32 - EX-32 - UNION PACIFIC CORPunp-20180331xex32.htm
EX-31.B - EX-31.B - UNION PACIFIC CORPunp-20180331xex31_b.htm
EX-31.A - EX-31.A - UNION PACIFIC CORPunp-20180331xex31_a.htm
10-Q - 10-Q - UNION PACIFIC CORPunp-20180331x10q.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,

2018  2017 

Fixed charges:

 

 

 

 

  Interest expense including amortization of debt discount

$

186 

$

172 

  Portion of rentals representing an interest factor

 

18 

 

20 

Total fixed charges

$

204 

$

192 

Earnings available for fixed charges:

 

 

 

 

  Net income

$

1,310 

$

1,072 

  Equity earnings net of distributions

 

(9)

 

(10)

  Income taxes

 

401 

 

616 

  Fixed charges

 

204 

 

192 

Earnings available for fixed charges

$

1,906 

$

1,870 

Ratio of earnings to fixed charges

 

9.3 

 

9.7