EX-12 6 a16-12780_1ex12.htm EX-12

EXHIBIT 12

 

COMPUTATION OF RATIO OF INCOME FROM

CONTINUING OPERATIONS TO FIXED CHARGES

FOR SIX MONTHS ENDED JUNE 30,

(UNAUDITED)

 

(Dollars in millions)

 

2016

 

2015

 

Income from continuing operations before income taxes (1)

 

$

4,086

 

$

7,230

 

 

 

 

 

 

 

Add: fixed charges, excluding capitalized interest

 

823

 

724

 

 

 

 

 

 

 

Income as adjusted before income taxes

 

$

4,909

 

$

7,953

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest expense

 

$

599

 

$

499

 

Capitalized interest

 

1

 

(3

)

Portion of rental expense representative of interest

 

225

 

225

 

 

 

 

 

 

 

Total fixed charges

 

$

825

 

$

721

 

 

 

 

 

 

 

Ratio of income from continuing operations to fixed charges

 

5.95

 

11.03

 

 

(1)   Income from continuing operations 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.

 

93