EX-12 8 d268535dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(DOLLARS IN MILLIONS)

 

                           
           Nine Months Ended      
September 30, 2016
 

Earnings

  

Loss from continuing operations before provision for income taxes

    $ (1,563)   

Income from equity investees

     (38)   

Distributed income from equity investees

     35    

Interest and amortization of deferred finance costs

     730    

Amortization of capitalized interest

       

Implicit rental interest expense

     85    
  

 

 

 

Total Earnings

    $ (746)   
  

 

 

 

Fixed Charges

  

Interest and amortization of deferred finance costs

    $ 730    

Capitalized interest

       

Implicit rental interest expense

     85    
  

 

 

 

Total Fixed Charges

    $ 821    
  

 

 

 

Ratio of Earnings to Fixed Charges

     *   
  

 

 

 

 

* For the nine months ended September 30, 2016, earnings were insufficient to cover fixed charges

    by approximately $1.6 billion.