EX-12 4 w39240exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES OF THE COMPANY AND SUBSIDIARIES
Our ratio of earnings to fixed charges for the periods indicated below were as follows:
                                                 
    Six        
    months        
    ended        
    June 30,     Year ended December 31,  
    2007     2006     2005     2004     2003     2002  
Earnings from continuing operations before income taxes, minority interest and cumulative effect of accounting change
   $ 490     $ 1,042     $ 868     $ 698     $ 397     $ 291  
Fixed Charges
     62       126       149       162       161       168  
Capitalized interest adjustment
     1       4       6       5       (3 )     (6 )
Undistributed earnings adjustment
     (11 )     (10 )     (9 )     (6 )     (7 )     (7 )
 
                                                
Earnings
     542       1,162       1,014       859       548       446  
 
                                                
 
                                    
Ratio of earnings to fixed charges
     8.7       9.2       6.8       5.3       3.4       2.7