STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars)
Year Ended December 31
------------------------
1998 1997 1996 1995 1994
---- ---- ---- ---- ----
Income from continuing operations before income
taxes............................................. A $ 89 $456 $196 $618 $350
Fixed charges:
Interest expense, gross.......................... 385 103 81 80 74
Portion of rentals representative of interest.... 35 19 22 20 17
---- ---- ---- ---- ----
Total fixed charges before capitalized
interest...................................... B 420 122 103 100 91
Capitalized interest............................. 0 5 33 6 0
---- ---- ---- ---- ----
Total fixed charges including capitalized
interest...................................... C 420 127 136 106 91
---- ---- ---- ---- ----
Earnings (A+B)..................................... D $509 $578 $299 $718 $441
Ratio of earnings to fixed charges (D/C)........... 1.2 4.6 2.2 6.8 4.8
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EXHIBIT 12