Exhibit 12(a)
RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)
Union Pacific Corporation and Subsidiary Companies
| Millions, Except for Ratios for the Three Months Ended June 30, |
2011 | 2010 | ||||||
| Fixed charges: |
||||||||
| Interest expense including |
||||||||
| amortization of debt discount |
$ | 148 | $ | 152 | ||||
| Portion of rentals representing an interest factor |
32 | 34 | ||||||
|
Total fixed charges |
$ | 180 | $ | 186 | ||||
| Earnings available for fixed charges: |
||||||||
| Net income |
$ | 785 | $ | 711 | ||||
| Equity earnings net of distributions |
(2) | (19) | ||||||
| Income taxes |
485 | 435 | ||||||
| Fixed charges |
180 | 186 | ||||||
|
Earnings available for fixed charges |
$ | 1,448 | $ | 1,313 | ||||
| Ratio of earnings to fixed charges |
8.0 | 7.1 | ||||||
1