EX-12 2 d406686dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(DOLLARS IN MILLIONS)

 

                                              
     Six Months Ended
June 30, 2017
 

Earnings

  

Loss from continuing operations before provision for income taxes

   $ (307)  

Income from equity investees

     (8)  

Distributed income from equity investees

     7  

Interest and amortization of deferred finance costs

     468   

Amortization of capitalized interest

      

Implicit rental interest expense

     53   
  

 

 

 

Total Earnings

   $ 218   
  

 

 

 

Fixed Charges

  

Interest and amortization of deferred finance costs

   $ 468   

Capitalized interest

      

Implicit rental interest expense

     53   
  

 

 

 

Total Fixed Charges

   $ 526   
  

 

 

 

Ratio of Earnings to Fixed Charges

     *  
  

 

 

 

*  For the six months ended June 30, 2017, earnings were insufficient to cover fixed charges by approximately $308 million.