| Year Ended December 31, | Six Months Ended June 30, | |||||||||||||||||||||||
| 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | |||||||||||||||||||
| Income Before Income Taxes, Minority Interest and Income/Loss of Equity Investees | $ | 661,500 | $ | 1,127,705 | $ | 1,546,390 | $ | 1,541,600 | $ | 757,388 | (3) | $ | 1,153,626 | |||||||||||
| Add: Fixed Charges | 9,182 | 14,535 | 10,589 | 16,562 | 31,437 | 15,044 | ||||||||||||||||||
| Earnings (1) | $ | 670,682 | $ | 1,142,240 | $ | 1,556,979 | $ | 1,558,162 | $ | 788,825 | $ | 1,168,670 | ||||||||||||
| Fixed Charges (2) | $ | 9,182 | $ | 14,535 | $ | 10,589 | $ | 16,562 | $ | 31,437 | $ | 15,044 | ||||||||||||
| Ratio of Earnings to Fixed Charges | 73.0 | 78.6 | 147.0 | 94.1 | 25.1 | 77.7 | ||||||||||||||||||
| (1) | Earnings consist of Income before income taxes, minority interest and equity in gains and losses of equity-method investees plus Fixed Charges. | |
| (2) | Fixed Charges consist of interest expense and our estimate of an appropriate portion of rentals representative of the interest factor. The estimate of interest within rental expense is estimated to be one-third of rental expense. | |
| (3) | For the year ended December 31, 2007, Income Before Income Taxes, Minority Interest and Income/Loss of Equity Investees includes an impairment loss of $1.4 billion related to our Communications reporting unit. |
