Exhibit 12.1
51ºÚÁÏ
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
| Nine Months Ended September 30, |
Year Ended December 31, | ||||||||||||||||||||||
| (Dollars in Millions) | 2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
| Portion of rentals representing interest |
$ | 19 | $ | 7 | $ | 33 | $ | 32 | $ | 44 | $ | 45 | $ | 51 | |||||||||
| Capitalized interest |
13 | 10 | 14 | 7 | 3 | 12 | 8 | ||||||||||||||||
| Other interest and fixed charges |
123 | 136 | 179 | 135 | 123 | 87 | 131 | ||||||||||||||||
| Pretax earnings which would be required to cover preferred stock dividend requirements |
- | - | - | - | 10 | 25 | 23 | ||||||||||||||||
| Combined fixed charges and preferred stock dividends (A) |
$ | 155 | $ | 153 | $ | 226 | $ | 174 | $ | 180 | $ | 169 | $ | 213 | |||||||||
| Earnings-pretax income with applicable adjustments (B) |
$ | (1,262 | ) | $ | 2,609 | $ | 3,203 | $ | 1,305 | $ | 1,884 | $ | 1,467 | $ | 1,687 | ||||||||
| Ratio of (B) to (A) |
(a | ) | 17.05 | 14.17 | 7.50 | 10.47 | 8.68 | 7.92 | |||||||||||||||
| (a) | Earnings did not cover fixed charges by $1,417 million. |