EXHIBIT 12.1

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)

	Year Ended December 31,
	2011				2010			2009			2008			2007
EARNINGS (1)
Pre-tax income from continuing operations before noncontrolling interest and income from equity investees	$	1,026			$	510		$	572		$	430		$	350
add: Fixed charges	328				321			283			264			233
add: Distributed income of equity investees	23				9			7			10			2
add: Amortization of capitalized interest	2				1			1			1			—
less: Capitalized interest	(25			)	(16		)	(12		)	(17		)	(14		)
Total Earnings	$	1,354			$	825		$	851		$	688		$	571
FIXED CHARGES (1)
Interest expensed and capitalized (2)	$		298		$	281		$	247		$	233		$	220
Amortization of debt expense	10				8			7			4			3
Portion of rent expense related to interest (33.33%)	20				32			29			27			10
Total Fixed Charges	$	328			$	321		$	283		$	264		$	233
RATIO OF EARNINGS TO FIXED CHARGES (3)	4.13			x	2.57		x	3.00		x	2.60		x	2.45		x

(1)For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pre-tax income from continuing operations before income from equity investees plus fixed charges (excluding capitalized interest), distributed income of equity investees and amortization of capitalized interest.  “Fixed charges” represents interest incurred (whether expensed or capitalized), amortization of debt expense (including discounts and premiums relating to indebtedness) and the portion of rental expense on operating leases deemed to be the equivalent of interest.

(2)Includes interest costs attributable to borrowings for hedged inventory purchases of $20 million, $17 million, $11 million, $21 million and $44 million for the years ended December 31, 2011, 2010, 2009, 2008 and 2007, respectively.

(3)Ratios may not recalculate due to rounding.