EX-12 7 dex12.htm STATEMENT RE COMPUTATION OF RATIOS Statement re computation of ratios

EXHIBIT 12

 

5-Year Ratio of Earnings to Fixed Charges

$ millions

    2003
     Restated
2002
     Restated
2001
     Restated
2000
     Restated
1999
  

Earnings

                                         

Earnings from continuing operations before minority interest and income taxes

    $ 4,694     $ 2,761     $ 2,263     $ 5,263     $ 4,733  

Fixed Charges

      361       420       233       148       174  

Capitalized interest, net of amortization

      (35 )     (16 )     (16 )     (12 )     (15 )
    
 
 
 
 

Total Earnings

    $ 5,020     $ 3,165     $ 2,480     $ 5,399     $ 4,892  
    
 
 
 
 

Fixed Charges

                                         

Interest and debt expense

    $ 277     $ 364     $ 182     $ 108     $ 130  

Capitalized interest

      35       16       16       12       15  

One-third of rental expense

      49       40       35       28       29  
    
 
 
 
 

Total Fixed Charges

    $ 361     $ 420     $ 233     $ 148     $ 174  
    
 
 
 
 

Ratio of Earnings to Fixed Charges

      13.91       7.54       10.64       36.48       28.11  

 

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