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Exhibit 12.1

Statement Regarding Computation of Ratios of Earnings to
Fixed Charges and Preferred Stock Dividends

		Year Ended December 31,
		2008			2007			2006			2005			2004
		(US$ in millions except ratios)
Earnings(1)
Pretax income before minority interests			1,537			1,201			522			488			891
plus: Fixed Charges			503			449			345			293			260
	Amortization of capitalized interest		13			11			10			8			7
	Distributed income of equity investees		4			12			1			2			—
less: Capitalized interest			(18	)		(15	)		(14	)		(12	)		(6	)
	Preferred stock dividends		(78	)		(40	)		(4	)		—			(5	)
Earnings:			1,961			1,618			860			779			1,147
Fixed Charges(1)
Capitalized interest			18			15			14			12			6
Expensed interest			361			353			280			231			214
plus: Amortized premiums, discounts and capitalized debt expenditures			6			6			6			12			8
	Estimate of interest within rental expense		40			35			41			38			27
	Preferred stock dividends		78			40			4			—			5
Fixed charges:			503			449			345			293			260
Ratio of Earnings/Fixed Charges			3.90			3.60			2.49			2.66			4.41

(1)

For the purpose of determining the Ratio of Earnings to Fixed Charges and Preferred Stock Dividends, earnings are defined as pretax income before minority interests in consolidated subsidiaries plus fixed charges and amortization of capitalized interest less capitalized interest and preferred stock dividend requirements. Fixed charges consist of interest expense (capitalized and expensed), amortization of deferred debt issuance costs, portion of rental expense that is representative of the interest factor and preferred stock dividend requirements of the registrant and consolidated subsidiaries.

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Exhibit 12.1

Statement Regarding Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends