Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

FOR THE YEAR ENDED DECEMBER 31,

(in millions, except ratios)

	2006			2005			2004			2003			2002
Earnings:
Income from continuing operations before taxes on income	$	3,432		$	1,970		$	2,153		$	1,645		$	948
Minority interests’ share of earnings of majority-owned subsidiaries without fixed charges		—			—			—			—			—
Less equity earnings		(72	)		(26	)		(145	)		(138	)		(72	)
Fixed charges added to earnings		440			387			313			346			380
Distributed income of less than 50% owned persons		37			40			59			35			21
Amortization of capitalized interest:
Consolidated		21			25			25			21			14
Proportionate share of 50% owned persons		—			—			—			—			—
Total earnings	$	3,858		$	2,396		$	2,405		$	1,909		$	1,291
Fixed Charges:
Interest expense:
Consolidated	$	384		$	339		$	271		$	314		$	350
Proportionate share of 50% owned persons		5			3			3			4			4
		389			342			274			318			354
Amount representative of the interest factor in rents:
Consolidated		49			43			37			27			25
Proportionate share of 50% owned persons		2			2			2			1			1
		51			45			39			28			26
Fixed charges added to earnings		440			387			313			346			380
Interest capitalized:
Consolidated		128			58			27			21			22
Proportionate share of 50% owned persons		2			—			—			—			—
		130			58			27			21			22
Total fixed charges	$	570		$	445		$	340		$	367		$	402
Ratio of earnings to fixed charges		6.8			5.4			7.1			5.2			3.2

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

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