EX-12.1 2 ex12_1.htm EXHIBIT 12.1 ex12_1.htm
Exhibit 12.1

Ratio of Earnings to Fixed Charges

   
Year Ended December 31,
  
   
2010
    
2009
    
2008
    
2007
    
2006
  
(millions)
                              
Income (Loss) From Continuing Operations Before Income Tax and Income From Equity Investees
   $ 913     $ (348 )   $ 1,887     $ 1,157     $ 957  
Add (Deduct)
                                        
Fixed Charges
     148       136       109       134       134  
Capitalized Interest
     (67 )     (45 )     (33 )     (17 )     (13 )
Distributed Income From Equity Investees
     139       92       221       227       37  
Earnings as Defined
   $ 1,133     $ (165 )   $ 2,184     $ 1,501     $ 1,115  
                                         
Net Interest Expense
     72       84       69       113       117  
Capitalized Interest
     67       45       33       17       13  
Interest Portion of Rental Expense
     9       7       7       4       4  
Fixed Charges as Defined
   $ 148     $ 136     $ 109     $ 134     $ 134  
                                         
Ratio of Earnings to Fixed Charges
     7.7       -       20.0       11.2       8.3  
                                         
Amount by Which Earnings Were Insufficient to Cover Fixed Charges
   $ -     $ (301 )   $ -     $ -     $ -