Exhibit 12.1 | ||||||||||||||||||||||
Kansas City Southern | ||||||||||||||||||||||
Computation of Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||||
2012(i) | 2011(ii) | 2010 | 2009 | 2008 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Pretax income from continuing operations, excluding equity in earnings of unconsolidated affiliates | $ | 597.1 | $ | 436.8 | $ | 269.5 | $ | 94.5 | $ | 227.9 | ||||||||||||
Interest expense | 100.4 | 129.1 | 158.1 | 173.7 | 138.9 | |||||||||||||||||
Portion of rents representative of an appropriate interest factor | 36.2 | 40.2 | 42.3 | 46.3 | 45.7 | |||||||||||||||||
Distributed income of equity investments | 19.8 | 18.1 | 19.5 | 7.3 | 18.9 | |||||||||||||||||
Pretax income as adjusted | $ | 753.5 | $ | 624.2 | $ | 489.4 | $ | 321.8 | $ | 431.4 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | $ | 100.4 | $ | 129.1 | $ | 158.1 | $ | 173.7 | $ | 138.9 | ||||||||||||
Capitalized interest | 0.9 | 1.0 | 1.3 | 2.8 | 4.4 | |||||||||||||||||
Portion of rents representative of an appropriate interest factor | 36.2 | 40.2 | 42.3 | 46.3 | 45.7 | |||||||||||||||||
Fixed charges before preference dividends | 137.5 | 170.3 | 201.7 | 222.8 | 189.0 | |||||||||||||||||
Preference security dividend as defined by Item 503(d)(B) of Regulation S-K | 0.3 | 2.2 | 17.7 | 16.5 | 20.5 | |||||||||||||||||
Total fixed charges | $ | 137.8 | $ | 172.5 | $ | 219.4 | $ | 239.3 | $ | 209.5 | ||||||||||||
Ratio of earnings to fixed charges and preference dividends | 5.5 | 3.6 | 2.2 | 1.3 | 2.1 | |||||||||||||||||
Ratio of earnings to fixed charges | 5.5 | 3.7 | 2.4 | 1.4 | 2.3 | |||||||||||||||||
Note: Excludes amortization of capitalized interest due to immateriality. | ||||||||||||||||||||||
(i) During 2012, the Company recognized a pre-tax gain of $43.0 million within operating expenses for the elimination of deferred statutory profit sharing liability, net as a result of the organizational restructuring during the period. (ii) During 2011, the Company recognized a pre-tax gain of $25.6 million within operating expenses for insurance recoveries related to hurricane damage. | ||||||||||||||||||||||
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10-K Filing
Kansas City Southern (KSU) 10-K2012 FY Annual report
Filed: 4 Feb 13, 12:00am