Exhibit 12




                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                              (Dollars in Millions)
                                   (Unaudited)


- - - --------------------------------------------------------------------------------

                                                    Three Months Ended
                                                      March 31, 1995
                                                      -------------- 
Income before income taxes                                $240.8

Add:
Interest on indebtedness and amortization of debt
  expense and discount or premium                           52.9

Portion of rents representative of interest
  factor
                                                             7.0

Interest on ESOP debt, net of dividends                      0.6

Less:
Income of less than fifty-percent-owned
  subsidiaries
                                                            (0.3)
                                                           ------
Income as adjusted                                        $301.0
                                                           ======

Fixed Charges:

Interest on indebtedness and amortization of debt
  expense and discount or premium                         $ 52.9

Portion of rents representative of interest
  factor
                                                             7.0

Interest on ESOP debt, net of dividends                      0.6

Capitalized interest                                         1.7
                                                           ------
Total fixed charges                                       $ 62.2
                                                           ======

Ratio of earnings to fixed charges                           4.8
                                                           ======


In June 1989, the Company's leveraged employee stock ownership plan (ESOP)
issued $410.0 of long-term notes due through 2009 bearing an average interest
rate of 8.6%. These notes are guaranteed by the Company. Interest incurred on
the ESOP's notes was $8.5. This interest is funded through preferred and common
stock dividends. The fixed charges presented above include interest on ESOP
indebtedness to the extent it is not funded through preferred and common stock
dividends.