Exhibit 12.1
Six months ended December 31, 2004 | Fiscal Year Ended June 30, (1) | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||||
EARNINGS: | |||||||||||||||||||||
Income (loss) from continuing operations before income taxes, minority interests and cumulative effect of accounting change | $ | 1,598 | $ | 2,755 | $ | 1,643 | $ | (7,234 | ) | $ | 335 | $ | 285 | ||||||||
ADDBACK: | |||||||||||||||||||||
Equity (earnings) losses from affiliates | (63 | ) | (170 | ) | 344 | 7,782 | 923 | 55 | |||||||||||||
Dividends received from affiliates | 52 | 81 | 21 | 14 | 5 | 42 | |||||||||||||||
Amortization of capitalized interest | 26 | 40 | 35 | 35 | 30 | 32 | |||||||||||||||
Fixed charges (exclusive of capitalized interest and perpetual preference dividend | 392 | 797 | 747 | 832 | 837 | 848 | |||||||||||||||
Earnings available for Fixed Charges | $ | 2,005 | $ | 3,503 | $ | 2,790 | $ | 1,429 | $ | 2,130 | $ | 1,262 | |||||||||
FIXED CHARGES: | |||||||||||||||||||||
Interest on debt and Finance lease charges | $ | 344 | $ | 684 | $ | 674 | $ | 767 | $ | 780 | $ | 789 | |||||||||
Capitalized interest | 18 | 42 | 26 | 22 | 63 | 53 | |||||||||||||||
Perpetual preference dividends paid | 10 | 27 | 27 | 27 | 28 | 28 | |||||||||||||||
Interest element on rental expense | 48 | 113 | 73 | 65 | 57 | 59 | |||||||||||||||
Total Fixed Charges | $ | 420 | $ | 866 | $ | 800 | $ | 881 | $ | 928 | $ | 929 | |||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 4.8 | 4.0 | 3.5 | 1.6 | 2.3 | 1.4 | |||||||||||||||
(1) | The prior years' ratio of earnings to fixed charges for June 30, 2000 through June 30, 2004 have been conformed to the six months ended December 31, 2004 presentation. |