Exhibit 12 - Computation of Ratio of Consolidated Earnings to Fixed Charges and Preferred Stock Dividends For the Years Ended December 31 (dollars in millions) 1993 1992 1991 Fixed Charges Interest expense $ 41 $ 40 $ 46 Interest capitalized - 8 8 Portion of rents representative of interest 27 28 31 Total fixed charges 68 76 85 Preferred stock dividend requirements (A) 48 48 37 Combined Fixed Charges and Preferred Stock Dividends $116 $124 $ 122 Consolidated Earnings Available for Fixed Charges and Preferred Stock Dividends Income (loss) from continuing operations before income taxes and cumulative effect of adopting new accounting standards $ 99 $ 35 $(141) Adjustments: Fixed charges 68 76 85 Less interest capitalized during the period - (8) (8) Consolidated earnings available for fixed charges and preferred stock dividends $167 $103 $ (64) Ratio of Consolidated Earnings to Fixed Charges 2.5 1.4 (B) Ratio of Consolidated Earnings to Combined Fixed Charges and Preferred Stock Dividends 1.4 .8 (B) <FN> (A) Preferred stock dividend requirements of $48 million in 1993 and 1992 and $37 million in 1991 divided by 100% less the effective income tax rate of 0% in 1993, 1992, and 1991. (B) In 1991, earnings were inadequate to cover combined fixed charges and preferred stock dividends by $186 million, and inadequate to cover fixed charges by $149 million.