Exhibit 12.2
Computation of Ratio of Earnings to Fixed Charges
TOTAL ENTERPRISE BASIS--Unaudited(a)
Continuing Operations
(Dollars in Millions)
Year Ended December 31
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1997 1996 1995 1994 1993
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Portion of rentals representing interest.. $ 82 $ 78 $ 76 $ 83 $ 81
Capitalized interest...................... 31 11 13 58 105
Other interest and fixed charges.......... 312 382 452 456 365
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Total fixed charges (A)................... $ 425 $ 471 $ 541 $ 597 $ 551
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Earnings--pretax income (loss) with
applicable adjustments (B)............... $1,745 $1,837 $ 877 $1,300 $ 239
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Ratio of (B) to (A)....................... 4.11 3.90 1.62 2.18 (b)
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(a) Amounts in prior years have been reclassified to conform to 1997
classifications.
(b) Earnings did not cover fixed charges by $312 million for 1993.