Years Ended December 31, | ||||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Earnings as defined for fixed charges calculation | ||||||||||||||||||||
Add: | ||||||||||||||||||||
Pretax income from continuing operations(a) | $ | 1,418 | $ | 1,029 | $ | 527 | $ | 910 | $ | 1,406 | ||||||||||
Fixed charges | 841 | 872 | 884 | 827 | 846 | |||||||||||||||
Deduct: | ||||||||||||||||||||
Pretax income attributable to noncontrolling interests of subsidiaries that have not incurred fixed charges | — | — | 2 | 3 | 3 | |||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | 6 | 6 | 7 | |||||||||||||||
Total earnings | $ | 2,259 | $ | 1,901 | $ | 1,403 | $ | 1,728 | $ | 2,242 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest on debt, including capitalized portions | $ | 732 | $ | 772 | $ | 782 | $ | 769 | $ | 788 | ||||||||||
Estimate of interest within rental expense | 109 | 100 | 96 | 52 | 51 | |||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | 6 | 6 | 7 | |||||||||||||||
Total fixed charges | $ | 841 | $ | 872 | $ | 884 | $ | 827 | $ | 846 | ||||||||||
Ratio of earnings to fixed charges | 2.7 | 2.2 | 1.6 | 2.1 | 2.7 | |||||||||||||||
Ratio of earnings to fixed charges and preferred dividends combined(b) | 2.7 | 2.2 | 1.6 | 2.1 | 2.7 |
(a) | Excludes amounts attributable to noncontrolling interests and income or loss from equity investees. |