Attached files
Computation of Ratios of Earnings to Fixed Charges
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Third Quarter
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First Nine Months
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(Dollars in millions)
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2010
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2009
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2010
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2009
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Earnings before income taxes
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$
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258
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$
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170
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$
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633
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$
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278
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|
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Add:
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Interest expense
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26
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20
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79
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63
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Appropriate portion of rental expense (1)
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3
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4
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9
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11
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Amortization of capitalized interest
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2
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2
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6
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6
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Earnings as adjusted
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$
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289
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$
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196
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$
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727
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$
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358
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Fixed charges:
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Interest expense
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$
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26
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$
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20
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$
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79
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$
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63
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|
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Appropriate portion of rental expense (1)
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3
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4
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9
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11
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Capitalized interest
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--
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--
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2
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14
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Total fixed charges
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$
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29
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$
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24
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$
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90
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$
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88
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|
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Ratio of earnings to fixed charges
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10.0x
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8.2x
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8.1x
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4.1x
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(1)
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For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense.
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87