EXHIBIT 12




        Computation of Ratio of Earnings to Fixed Charges
            For the three months ended March 31, 1998
                   (in millions, except ratio)

                                                              1998
                                                              ----
                                                      
Earnings:                                        
   Income before taxes on income                         $   420.6
   Minority interests' share of earnings of majority-      
       owned subsidiaries without fixed charges                (.6)
   Equity income                                             (10.6)
   Fixed charges                                              52.3
   Proportionate share of income (loss) of 50%-owned
     persons                                                   9.3
   Distributed income of less than 50%-owned persons           -
   Amortization of capitalized interest                        5.0
                                                           -------
                                                      
      Total earnings                                     $   476.0
                                                           -------
                                                 
Fixed Charges:                                   
   Interest expense:                             
      Consolidated                                       $    39.2
      Proportionate share of 50%-owned persons                  .8
                                                           -------
                                                              40.0
                                                           -------
                                                 
   Amount representative of the interest factor in rents: 
      Consolidated                                            10.2
      Proportionate share of 50%-owned persons                  .1
                                                           -------
                                                              10.3
                                                           -------
                                                 
   Fixed charges added to earnings                            50.3
                                                 
   Interest capitalized:                         
      Consolidated                                             2.0
      Proportionate share of 50%-owned persons                 -
                                                           -------
                                                               2.0
                                                           -------
                                                 
   Preferred stock dividend requirements of      
      majority-owned subsidiaries                              -
                                                           -------
                                                 
      Total fixed charges                                $    52.3
                                                           =======
                                                 
Ratio of earnings to fixed charges                             9.1
                                                           =======


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