| Year Ended December 31, | ||||||||||||||||
| 2004 | 2005 | 2006 | 2007 | 2008 | ||||||||||||
| EARNINGS | ||||||||||||||||
| Income Before Income Tax Expense and Equity Earnings | $ | 1,692 | $ | 1,463 | $ | 1,483 | $ | 1,663 | $ | 2,015 | ||||||
| Fixed Charges (as below) | 987 | 913 | 999 | 1,146 | 1,240 | |||||||||||
Preferred Security Dividend Requirements of Consolidated Subsidiaries | (9 | ) | (10 | ) | (4 | ) | (4 | ) | (4 | ) | ||||||
| Total Earnings | $ | 2,670 | $ | 2,366 | $ | 2,478 | $ | 2,805 | $ | 3,251 | ||||||
| FIXED CHARGES | ||||||||||||||||
| Interest Expense | $ | 779 | $ | 694 | $ | 729 | $ | 838 | $ | 957 | ||||||
Credit for Allowance for Borrowed Funds Used During Construction | 22 | 36 | 82 | 79 | 75 | |||||||||||
| Estimated Interest Element in Lease Rentals | 177 | 173 | 184 | 225 | 204 | |||||||||||
| Preferred Security Dividend Requirements of Consolidated Subsidiaries | 9 | 10 | 4 | 4 | 4 | |||||||||||
| Total Fixed Charges | $ | 987 | $ | 913 | $ | 999 | $ | 1,146 | $ | 1,240 | ||||||
| Ratio of Earnings to Fixed Charges | 2.70 | 2.59 | 2.48 | 2.44 | 2.62 | |||||||||||
