EX-12 3 a13-7778_1ex12.htm EX-12

EXHIBIT 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THREE MONTHS ENDED MARCH 31,

(UNAUDITED)

 

(Dollars in millions)

 

2013

 

2012

 

Income before income taxes (1)

 

$

3,611

 

$

3,841

 

 

 

 

 

 

 

Add: fixed charges, excluding capitalized interest

 

366

 

382

 

 

 

 

 

 

 

Income as adjusted before income taxes

 

$

3,977

 

$

4,223

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest expense

 

$

244

 

$

252

 

Capitalized interest

 

15

 

9

 

Portion of rental expense representative of interest

 

122

 

130

 

 

 

 

 

 

 

Total fixed charges

 

$

381

 

$

391

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.44

 

10.80

 

 

(1) Income before income taxes excludes (a) amortization of capitalized interest, and (b) the company’s share in the income and losses of less-than-fifty percent-owned affiliates.

 

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