EX-12.1 3 l38269exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
     The ratios of earnings to fixed charges on a consolidated basis for the periods indicated were as follows:
(Dollars in millions)
(Unaudited)
                                                         
    Nine Months Ended        
    September 30,     Year Ended December 31,  
    2009     2008     2008     2007     2006     2005     2004  
 
                                                        
Fixed Charges:
                                                        
Interest expense (a)
   $ 31     $ 51     $ 66     $ 72     $ 67     $ 50     $ 40  
Rent expense
     210       204       271       245       218       197       173  
 
                                          
Total fixed charges
     241       255       337       317       285       247       213  
 
                                          
 
                                                        
Earnings:
                                                        
Income before taxes
     542       635       714       913       834       656       580  
Fixed charges per above
     241       255       337       317       285       247       213  
 
                                          
Total earnings, as adjusted
     783       890       1,051       1,230       1,119       903       793  
 
                                          
 
                                                        
Ratio of earnings to fixed charges
     3.2       3.5       3.1       3.9       3.9       3.7       3.7  
(a) The interest expense included in fixed charges above reflects only interest on third-party indebtedness and excludes any interest expense accrued on uncertain tax positions, as permitted by Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 740, Income Taxes (formerly FASB Interpretation No. 48, Accounting for Income Taxes).