EX-99.4 6 d157602dex994.htm EX-99.4 EX-99.4

Exhibit 99.4

UNAUDITED PRO FORMA COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

(dollars in millions)    Pro Forma
Year Ended
December 31,
 
     2015  

Earnings Available for Fixed Charges:

  

Income before income taxes

   $ 287   

Equity in earnings of affiliates

     (3
  

 

 

 

Total earnings

     284   

Fixed charges:

  

Interest expense(1)

     504   

Portion of rent determined to be interest(2)

     85   
  

 

 

 
   $ 873   
  

 

 

 

Fixed Charges:

  

Interest expensed and capitalized

   $ 505   

Portion of rent determined to be interest(2)

     85   
  

 

 

 
   $ 590   
  

 

 

 

Pro Forma Ratio of Earnings to Fixed Charges

     1.48   

 

  (1) Excludes interest capitalized during the year.
  (2) A standard ratio of 33% was applied to gross rent expense to approximate the interest portion of short-term and long-term leases.