EXHIBIT 12.
Statement Re Computation of Ratios
| 2004 |
2003 |
2002 |
2001 |
2000 |
||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||
| 5-Year Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||
| Earnings |
||||||||||||||||||||
| Earnings from Continuing Operations Before Minority Interest and Income Taxes |
$ | 4,418 | $ | 4,680 | $ | 2,748 | $ | 2,252 | $ | 5,244 | ||||||||||
| Fixed Charges |
369 | 361 | 420 | 233 | 148 | |||||||||||||||
| Capitalized interest, net of amortization |
(10 | ) | (35 | ) | (16 | ) | (16 | ) | (12 | ) | ||||||||||
| Total Earnings |
$ | 4,777 | $ | 5,006 | $ | 3,152 | $ | 2,469 | $ | 5,380 | ||||||||||
| Fixed Charges |
||||||||||||||||||||
| Interest and debt expense |
$ | 310 | $ | 277 | $ | 364 | $ | 182 | $ | 108 | ||||||||||
| Capitalized interest |
10 | 35 | 16 | 16 | 12 | |||||||||||||||
| One-third of rental expense |
49 | 49 | 40 | 35 | 28 | |||||||||||||||
| Total Fixed Charges |
$ | 369 | $ | 361 | $ | 420 | $ | 233 | $ | 148 | ||||||||||
| Ratio of Earnings to Fixed Charges |
12.95 | 13.87 | 7.50 | 10.60 | 36.35 | |||||||||||||||
E-12-1