EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
<Table>
<Caption>
THREE
MONTHS
ENDED
MARCH 31 YEAR ENDED DECEMBER 31
-------- --------------------------------------------------------
2002 2001 2000 1999 1998 1997
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Income before extraordinary item and
accounting changes ................................. $ 82 $ 1,596 $ 1,902 $ 744 $ 450 $ 1,097
Income tax expense .................................... 135 1,391 1,556 473 244 1,010
Equity in earnings of affiliates ...................... (36) (181) (277) (150) (22) (40)
Minority interests .................................... 14 23 24 25 21 24
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Pretax income before adjustment for minority
interests in consolidated subsidiaries or income
or loss from equity affiliates ..................... 195 2,829 3,205 1,092 693 2,091
Fixed charges (see below) ............................. 163 554 446 412 337 174
Amortization of capitalized interest .................. 9 37 41 46 40 46
Distributed income in equity affiliates ............... 17 198 134 77 105 58
Capitalized interest .................................. (14) (33) (17) (6) (72) (94)
Minority interests in subsidiaries that have not
incurred fixed charges ............................. (14) (23) (22) (25) (21) (24)
Preference security dividends ......................... (6) (18) -- -- -- --
-------- -------- -------- -------- -------- --------
Total adjusted earnings available for payment
of fixed charges ................................... $ 350 $ 3,544 $ 3,787 $ 1,596 $ 1,082 $ 2,251
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Ratio of earnings to fixed charges .................... 2.1 6.4 8.5 3.9 3.2 12.9
Fixed Charges
Interest and debt expense - borrowings ............ $ 116 $ 396 $ 338 $ 311 $ 199 $ 36
Capitalized interest .............................. 14 33 17 6 72 94
Rental expense representative of interest
factor ......................................... 27 107 91 95 66 44
Preference security dividends ..................... 6 18 -- -- -- --
-------- -------- -------- -------- -------- --------
Total fixed charges ................................... $ 163 $ 554 $ 446 $ 412 $ 337 $ 174
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</Table>