EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
| (in millions) | ||||||||||||||||||
| Income (loss) before income tax (expense) benefit |
$ | (73 | ) | $ | 395 | $ | 145 | $ | (35 | ) | $ | (316 | ) | |||||
| Cumulative effect of changes in accounting principle |
— | — | — | — | — | |||||||||||||
| Interest expense(A) |
493 | 418 | 300 | 219 | 260 | |||||||||||||
| Debt expense amortization |
9 | 13 | 8 | 18 | 7 | |||||||||||||
| Interest portion of rent expense (33%) |
17 | 15 | 15 | 13 | 13 | |||||||||||||
| Total earnings |
446 | 841 | 468 | 215 | (36 | ) | ||||||||||||
| Capitalized interest |
7 | 6 | 1 | 1 | 6 | |||||||||||||
| Interest expense(A) |
510 | 433 | 314 | 232 | 273 | |||||||||||||
| Debt expense amortization |
9 | 13 | 8 | 18 | 7 | |||||||||||||
| Total fixed charges |
526 | 452 | 323 | 251 | 286 | |||||||||||||
| Ratio of earnings to fixed charges |
0.85 | 1.86 | 1.45 | 0.86 | (0.13 | ) | ||||||||||||
| Earnings shortfall |
(80 | ) | — | — | (36 | ) | (322 | ) | ||||||||||
| (A) | Excludes interest expense on income tax contingencies. |
E-37