Exhibit 12.1



BNSF RAILWAY COMPANY AND SUBSIDIARIES

COMPUTATION of RATIO of EARNINGS to FIXED CHARGES

(in millions, except ratio amounts)

(Unaudited)



|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|------------------------------------------------------------------------------------- |  | ----------------------- | ----- | ---- | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | -----
|                                                                                      |  | Year Ended December 31,
|                                                                                      |  | 2004                    |       | 2003 |   | 2002  |  | 2001 |       | 2000
|Earnings:                                                                             |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Income before income taxes and cumulative effect of accounting change                 |  | $                       | 1,612 |      | $ | 1,558 |  | $    | 1,531 |      | $ | 1,550 |  | $ | 1,936
|Add:                                                                                  |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Interest and fixed charges, excluding capitalized interest                            |  |                         | 128   |      |   | 144   |  |      | 153   |      |   | 170   |  |   | 184  
|Portion of rent under long-term operating leases representative of an interest factor |  |                         | 195   |      |   | 182   |  |      | 178   |      |   | 173   |  |   | 167  
|Distributed income of investees accounted for under the equity method                 |  |                         | 3     |      |   | 3     |  |      | 3     |      |   | 5     |  |   | 46   
|Amortization of capitalized interest                                                  |  |                         | 8     |      |   | 8     |  |      | 8     |      |   | 7     |  |   | 6    
|Less:                                                                                 |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Undistributed equity in earnings of investments accounted for under the equity method |  |                         | 9     |      |   | 14    |  |      | 17    |      |   | 23    |  |   | 18   
|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Total earnings available for fixed charges                                            |  | $                       | 1,937 |      | $ | 1,881 |  | $    | 1,856 |      | $ | 1,882 |  | $ | 2,321
|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Fixed charges:                                                                        |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Interest and fixed charges                                                            |  | $                       | 138   |      | $ | 153   |  | $    | 166   |      | $ | 184   |  | $ | 212  
|Portion of rent under long-term operating leases representative of an interest factor |  |                         | 195   |      |   | 182   |  |      | 178   |      |   | 173   |  |   | 167  
|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Total fixed charges                                                                   |  | $                       | 333   |      | $ | 335   |  | $    | 344   |      | $ | 357   |  | $ | 379  
|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |      
|Ratio of earnings to fixed charges                                                    |  |                         | 5.82x |      |   | 5.61x |  |      | 5.40x |      |   | 5.27x |  |   | 6.12x
|                                                                                      |  |                         |       |      |   |       |  |      |       |      |   |       |  |   |