EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

	Year Ended December 31,
	2009		2008		2007		2006		2005
	(dollars in millions)
Earnings as defined for fixed charges calculation
Add:
Pre-tax income from continuing operations(a)	$	1,770	$	1,993	$	2,078	$	1,421	$	1,169
Fixed charges		892		883		797		1,382		1,159
Distributed income of equity investees		82		195		147		893		473
Deduct:
Preference security dividend requirements of consolidated subsidiaries		—		—		—		27		27
Interest capitalized(b)		102		93		71		56		23
Total earnings (as defined for the Fixed Charges calculation)	$	2,642	$	2,978	$	2,951	$	3,613	$	2,751
Fixed charges:
Interest on debt, including capitalized portions(b)	$	853	$	834	$	756	$	1,311	$	1,096
Estimate of interest within rental expense		39		49		41		44		36
Preference security dividend requirements of consolidated subsidiaries		—		—		—		27		27
Total fixed charges	$	892	$	883	$	797	$	1,382	$	1,159
Ratio of earnings to fixed charges		3.0		3.4		3.7		2.6		2.4

(a) Excludes amounts attributable to noncontrolling interests and income or loss from equity investees.

(b) Excludes equity costs related to Allowance for Funds Used During Construction that are included in Other Income and Expenses in the Consolidated Statements of Operations.