EX-12 7 d71091exv12.htm EX-12 exv12
Exhibit 12
RATIOS OF EARNINGS TO FIXED CHARGES AND TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
December 31, 2009
                                         
    Years Ended December 31,  
    2009     2008     2007     2006     2005  
EARNINGS:
                                        
Adjusted (loss) earnings from continuing operations before income taxes
   $ (4,574 )   $ (4,208 )   $ 3,283     $ 3,151     $ 4,129  
Add fixed charges (see below)
     467       459       550       515       619  
 
                              
Adjusted (loss) earnings
   $ (4,107 )   $ (3,749 )   $ 3,833     $ 3,666     $ 4,748  
 
                              
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:
                                        
Gross interest expense
   $ 444     $ 440     $ 532     $ 500     $ 604  
Estimated interest component of operating lease payments
     23       19       18       15       15  
 
                              
Fixed charges
     467       459       550       515       619  
Preferred stock requirements, pre-tax
     —       9       15       15       15  
 
                              
Combined fixed charges and preferred stock dividends
   $ 467     $ 468     $ 565     $ 530     $ 634  
 
                              
Ratio of earnings to fixed charges
     N/A       N/A       6.97       7.11       7.67  
Ratio of earnings to combined fixed charges and preferred stock dividends
     N/A       N/A       6.78       6.91       7.49  
Insufficiency of earnings to cover fixed charges
   $ 4,574     $ 4,208       N/A       N/A       N/A  
Insufficiency of earnings to cover combined fixed charges and preferred stock dividends
   $ 4,574     $ 4,217       N/A       N/A       N/A