EX-12.1 6 dex121.txt STATEMENT REGARDING COMPUTATION OF EARNINGS EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES
Pro Forma Actual ------------------------------ ------------------------------------------------------- Quarter ended Year ended Mar. 31, 2001 Dec. 31, 2000 2001 2000 2000 1999 1998 1997 1996 ------------- ------------- ---- ---- ---- ---- ---- ---- ---- ($ in Millions) Income from contining operations before income taxes and accounting change: $ 173 $ 1,079 $ 160 $ 243 $ 975 $ 747 $ 309 $ 512 $ 478 ------------ ------------- ----- ----- ----- ------ ----- ----- ----- Plus Fixed Charges: Interest on all Indebtedness. 120 470 47 46 175 224 232 257 270 Amortization of debt expense: 6 24 3 3 13 13 14 15 24 Portion of rental expenses on 15 61 10 8 41 32 32 33 25 operating leases deemed to be representative of the interest factor: Preferred stock dividend requirements of consolidated subsidiaries: 9* 38* - - - - - - - ------------ ------------- ----- ----- ---- ------ ---- ----- ----- Total Fixed Charges: 150 593 60 57 229 269 278 305 319 ------------ ------------- ----- ----- ---- ------ ---- ----- ----- Less Preferred stock dividend: (9) (38) - - - - - - - Earnings: $ 314 $1,634 $ 220 $ 300 $1,204 $1,016 $ 587 $ 817 $ 797 ------------ ------------- ----- ----- ---- ------ ---- ----- ----- Fixed Charges Ratio: 2.09 2.76 3.67 5.26 5.26 3.78 2.11 2.68 2.50 ------------ ------------- ----- ----- ------ ------ ----- ----- ------
_______________________________ * Required preferred stock dividend divided by 1 minus the statutory tax rate of 35%. See instructions to Item 503(d) of Regulation S-K. The ratios of earnings to fixed charges should be read in conjunction with the financial statements and other financial data included or incorporated by reference in this registration statement. 1