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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | For the Year Ended December 31, | For Nine Months Ended September 30, | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2004 | 2005 | 2006 | 2007 | 2008 | 2008 | 2009 | |||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income from continuing operations before income taxes and cumulative effect of accounting changes | $ | (170 | ) | $ | 533 | $ | 2,195 | $ | 2,250 | $ | 2,057 | $ | 1,653 | $ | 1,397 | |||||||||
Fixed charges | 236 | 273 | 289 | 284 | 351 | 248 | 283 | |||||||||||||||||
Capitalized interest | (16 | ) | (31 | ) | (55 | ) | (51 | ) | (18 | ) | (13 | ) | (14 | ) | ||||||||||
Total earnings | $ | 50 | $ | 775 | $ | 2,429 | $ | 2,483 | $ | 2,390 | $ | 1,888 | $ | 1,666 | ||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 222 | $ | 258 | $ | 273 | $ | 267 | $ | 333 | $ | 235 | $ | 268 | ||||||||||
Estimated interest portion of rental payments(a) | 14 | 15 | 16 | 17 | 18 | 13 | 15 | |||||||||||||||||
Total fixed charges | $ | 236 | $ | 273 | $ | 289 | $ | 284 | $ | 351 | $ | 248 | $ | 283 | ||||||||||
Ratio of earnings to fixed charges | (b) | 2.84 | 8.40 | 8.74 | 6.81 | 7.61 | 5.89 | |||||||||||||||||
- (a)
- Interest expense was estimated by using one-third of total rental payments.
- (b)
- Fixed charges exceed earnings.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES