Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE YEAR ENDED DECEMBER 31 (In millions, except ratios) 1993 1992 1991 1990 1989 Earnings: Income before taxes on income and before extraordinary loss and accounting changes $191.1 $298.6 $411.5 $1,057.4 $2,197.1 Minority interests' share of earnings of majority-owned subsidiaries without fixed charges (5.9) (5.7) (7.7) - - Less equity (earnings) losses 13.0 12.2 5.2 3.0 (30.8) Fixed charges added to net income 110.1 133.5 193.1 217.8 211.5 Proportionate share of income (loss) of 50% owned persons (11.5) (11.2) (.5) (7.4) 25.6 Distributed income of less than 50% owned persons - - 4.6 - 2.1 Amortization of capitalized interest: Consolidated 20.6 20.0 19.6 18.5 17.0 Proportionate share of 50% owned persons .8 1.0 .4 .9 .5 Total earnings $318.2 $448.4 $626.2 $1,290.2 $2,423.0 Fixed charges: Interest expense: Consolidated $ 87.8 $105.4 $153.2 $ 184.7 $ 178.3 Proportionate share of 50% owned persons 5.5 7.0 17.8 9.7 15.1 93.3 112.4 171.0 194.4 193.4 Amount representative of the interest factor in rent: Consolidated 16.4 20.7 21.3 23.1 17.7 Proportionate share of 50% owned persons .4 .4 .8 .3 .4 16.8 21.1 22.1 23.4 18.1 Fixed charges added to net income 110.1 133.5 193.1 217.8 211.5 Interest capitalized: Consolidated 3.5 11.1 12.7 20.5 18.5 Proportionate share of 50% owned persons - - - - - 3.5 11.1 12.7 20.5 18.5 Preferred stock dividend requirements of majority-owned subsidiaries 29.6 62.4 69.0 65.1 64.1 Total fixed charges $143.2 $207.0 $274.8 $ 303.4 $ 294.1 Ratio 2.22 2.17 2.28 4.25 8.24