|
Ratio of
|
|||||||||||
|
earnings to
|
|||||||||||
|
combined
|
|||||||||||
|
Ratio of
|
fixed charges
|
||||||||||
|
earnings to
|
and preferred
|
||||||||||
|
fixed charges
|
stock dividends
|
||||||||||
|
(Dollars in millions)
|
|||||||||||
|
Earnings(a)
|
$
|
5,609
|
$
|
5,609
|
|||||||
|
Plus:
|
|||||||||||
|
Interest included in expense(b)
|
8,989
|
8,989
|
|||||||||
|
One-third of rental expense(c)
|
145
|
145
|
|||||||||
|
Adjusted “earnings”
|
$
|
14,743
|
$
|
14,743
|
|||||||
|
Fixed charges:
|
|||||||||||
|
Interest included in expense(b)
|
$
|
8,989
|
$
|
8,989
|
|||||||
|
Interest capitalized
|
20
|
20
|
|||||||||
|
One-third of rental expense(c)
|
145
|
145
|
|||||||||
|
Total fixed charges
|
$
|
9,154
|
$
|
9,154
|
|||||||
|
Ratio of earnings to fixed charges
|
1.61
|
||||||||||
|
Preferred stock dividend requirements
|
$
|
–
|
|||||||||
|
Ratio of earnings before provision for income taxes to
|
|||||||||||
|
earnings from continuing operations
|
1.07
|
||||||||||
|
Preferred stock dividend factor on pre-tax basis
|
–
|
||||||||||
|
Fixed charges
|
$
|
9,154
|
|||||||||
|
Total fixed charges and preferred stock dividend requirements
|
$
|
9,154
|
|||||||||
|
Ratio of earnings to combined fixed charges and
|
|||||||||||
|
preferred stock dividends
|
1.61
|
||||||||||
|
(a)
|
Earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees.
|
|
(b)
|
Included interest on tax deficiencies.
|
|
(c)
|
Considered to be representative of interest factor in rental expense.
|