Exhibit 12.1

Computation of Ratios of Earnings to Fixed Charges

	Three months ended March 31,						Twelve months ended December 31,
	Pro forma			2009			Pro forma			2008			2007			2006			2005			2004
	(Dollars in millions)
Income (loss) from continuing operations	$	(5,263	)	$	(5,975	)	$	(29,711	)	$	(30,943	)	$	(43,091	)	$	(2,479	)	$	(10,673	)	$	2,365
Income tax expense (benefit)		(114	)		(114	)		1,766			1,766			36,863			(3,075	)		(6,073	)		(1,322	)
(Income)/Losses of and dividends from nonconsolidated associates		(35	)		(35	)		254			254			169			(142	)		93			(528	)
Noncontrolling interests		76			76			(108	)		(108	)		406			324			48			81
Amortization of capitalized interest		13			13			77			77			48			51			47			79
Income (loss) from continuing operations before income taxes, undistributed income of associates, and capitalized interest		(5,323	)		(6,035	)		(27,722	)		(28,954	)		(5,605	)		(5,321	)		(16,558	)		675
Fixed charges included in income (loss) from continuing operations
Interest and related charges on debt		657			1,230			1,631			2,563			3,399			17,029			15,685			12,022
Portion of rentals deemed to be interest		45			45			226			226			220			301			293			274
Total fixed charges included in income (loss) from continuing operations		702			1,274			1,857			2,789			3,619			17,330			15,978			12,296
Earnings (losses) available for fixed charges	$	(4,621	)	$	(4,761	)	$	(25,865	)	$	(26,165	)	$	(1,986	)	$	12,009		$	(580	)	$	12,971
Fixed charges
Fixed charges included in income (loss) from continuing operations	$	702		$	1,274		$	1,857		$	2,789		$	3,619		$	17,330		$	15,979		$	12,296
Interest capitalized in the period		15			15			244			244			24			44			45			38
Total fixed charges	$	717		$	1,290		$	2,101		$	3,033		$	3,643		$	17,374		$	16,024		$	12,334
Ratios of earnings (losses) to fixed charges		—			—			—			—			—			0.69			—			1.05

Earnings for the years ended December 31, 2008, 2007 and 2005 and the three months ended March 31, 2009 were inadequate to cover fixed charges. Additional earnings of $29.2 billion, $5.6 billion, $16.6 billion and $6.0 billion, respectively, would have been necessary to bring the respective ratios to 1.0.

Pro forma earnings for the year ended December 31, 2008 and the three months ended March 31, 2009, after giving effect to the pro forma adjustments described under “Unaudited Pro Forma Condensed Consolidated Financial Information for the Exchange Offers” included elsewhere in the Registration Statement, were inadequate to cover fixed charges. Additional earnings of $28.0 billion for 2008 and $5.3 billion for the three months ended March 31, 2009 would be necessary to bring the respective ratios to 1.0.

The ratios of earnings to fixed charges for the years ended December 31, 2008, 2007, 2006, 2005 and 2004 have been adjusted for the retrospective adoption of FSP APB No. 14-1.