Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31

(in millions, except ratios)

	2005			2004			2003			2002			2001
Earnings:
Income from continuing operations before taxes on income and before accounting change	$	1,933		$	2,165		$	1,670		$	971		$	1,598
Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges		—			—			—			—			—
Less equity earnings		(26	)		(145	)		(138	)		(72	)		(118	)
Fixed charges added to earnings		389			314			347			380			420
Distributed income of less than 50% owned persons		40			59			35			21			23
Amortization of capitalized interest:
Consolidated		25			25			21			14			13
Proportionate share of 50% owned persons		—			—			—			—			—
Total earnings	$	2,361		$	2,418		$	1,935		$	1,314		$	1,936
Fixed Charges:
Interest expense:
Consolidated	$	339		$	271		$	314		$	350		$	371
Proportionate share of 50% owned persons		3			3			4			4			6
		342			274			318			354			377
Amount representative of the interest factor in rents:
Consolidated		45			38			28			25			41
Proportionate share of 50% owned persons		2			2			1			1			2
		47			40			29			26			43
Fixed charges added to earnings		389			314			347			380			420
Interest capitalized:
Consolidated		58			27			21			22			22
Proportionate share of 50% owned persons		—			—			—			—			—
		58			27			21			22			22
Total fixed charges	$	447		$	341		$	368		$	402		$	442
Ratio of earnings to fixed charges		5.3			7.1			5.3			3.3			4.4

The financial information of all prior periods has been reclassified to reflect discontinued operations.

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