| Exhibit 12. Computation of Ratios | |||||||||||||||||||||||||||
| Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||||||
| Dollars in millions | |||||||||||||||||||||||||||
| Six Months | |||||||||||||||||||||||||||
| Ended June 30, | Years Ended December 31, | ||||||||||||||||||||||||||
| 2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
| Earnings available for fixed charges | |||||||||||||||||||||||||||
| - Income before provision for income taxes | $ | 3,226.6 | $ | 2,966.5 | $ | 6,555.7 | $ | 7,372.0 | $ | 8,204.5 | $ | 8,079.0 | $ | 8,012.2 | |||||||||||||
- Noncontrolling interest expense in operating results of majority-owned subsidiaries less equity in undistributed operating results of less than 50%-owned affiliates | 6.1 | 2.9 | 7.3 | 6.3 | 9.0 | 11.1 | 13.3 | ||||||||||||||||||||
- Income tax provision (benefit) of 50%-owned affiliates included in income from continuing operations before provision for income taxes | 0.6 | 3.0 | 3.7 | (0.1 | ) | 23.8 | 64.0 | 65.5 | |||||||||||||||||||
- Portion of rent charges (after reduction for rental income from subleased properties) considered to be representative of interest factors* | 174.8 | 179.7 | 365.1 | 374.6 | 374.6 | 358.1 | 339.4 | ||||||||||||||||||||
- Interest expense, amortization of debt discount and issuance costs, and depreciation of capitalized interest* | 458.1 | 311.2 | 660.4 | 596.1 | 548.9 | 550.1 | 520.5 | ||||||||||||||||||||
| $ | 3,866.2 | $ | 3,463.3 | $ | 7,592.2 | $ | 8,348.9 | $ | 9,160.8 | $ | 9,062.3 | $ | 8,950.9 | ||||||||||||||
| Fixed charges | |||||||||||||||||||||||||||
- Portion of rent charges (after reduction for rental income from subleased properties) considered to be representative of interest factors* | $ | 174.8 | $ | 179.7 | $ | 365.1 | $ | 374.6 | $ | 374.6 | $ | 358.1 | $ | 339.4 | |||||||||||||
- Interest expense, amortization of debt discount and issuance costs* | 449.9 | 302.8 | 643.7 | 579.8 | 532.1 | 532.8 | 503.0 | ||||||||||||||||||||
| - Capitalized interest* | 3.5 | 4.8 | 9.4 | 14.8 | 15.6 | 16.1 | 14.0 | ||||||||||||||||||||
| $ | 628.2 | $ | 487.3 | $ | 1,018.2 | $ | 969.2 | $ | 922.3 | $ | 907.0 | $ | 856.4 | ||||||||||||||
| Ratio of earnings to fixed charges | 6.15 | 7.11 | 7.46 | 8.61 | 9.93 | 9.99 | 10.45 | ||||||||||||||||||||
| * | Includes amounts of the Company and its majority-owned subsidiaries, and one-half of the amounts of 50%-owned affiliates. The Company records interest expense on unrecognized tax benefits in the provision for income taxes. This interest is not included in the computation of fixed charges. |