| 1999 |
1998 |
1997 |
|||||
|---|---|---|---|---|---|---|---|
| Profit | $ 946 | $1,513 | $1,665 | ||||
| Add: | |||||||
| Provision for income taxes | $ 448 | $ 680 | 837 | ||||
| |
|
|
|||||
| Profit before taxes | $1,394 | $2,193 | $2,502 | ||||
| Fixed charges: | |||||||
| Interest and other costs related to borrowed funds(1) | $ 835 | $ 758 | $ 586 | ||||
| Rentals at computed interest factors(2) | 83 | 76 | 60 | ||||
| |
|
|
|||||
| Total fixed charges | $ 918 | $ 834 | $ 646 | ||||
| |
|
|
|||||
| Profit before provision for income taxes and fixed charges | $2,312 | $3,027 | $3,148 | ||||
| |
|
|
|||||
| Ratio of profit to fixed charges | 2.5 | 3.6 | 4.9 | ||||
| |
|
|
|||||
__________
| (1) | Interest expense as reported in the Consolidated Results of Operations plus the Company’s proportionate share of 50 percent-owned unconsolidated affiliated companies’ interest expense. |
| (2) | Amounts represent those portions of rent expense that are reasonable approximations of interest costs. |
| Exhibit 12 | Page 1 of 1 |