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, |
2014 | 2013 | ||||||
| Fixed charges: |
||||||||
| Interest expense including |
||||||||
| amortization of debt discount |
$ | 138 | $ | 133 | ||||
| Portion of rentals representing an interest factor |
26 | 28 | ||||||
|
Total fixed charges |
$ | 164 | $ | 161 | ||||
| Earnings available for fixed charges: |
||||||||
| Net income |
$ | 1,291 | $ | 1,106 | ||||
| Equity earnings net of distributions |
(11) | (16) | ||||||
| Income taxes |
789 | 662 | ||||||
| Fixed charges |
164 | 161 | ||||||
|
Earnings available for fixed charges |
$ | 2,233 | $ | 1,913 | ||||
|
Ratio of earnings to fixed charges |
13.6 | 11.9 | ||||||
40