For the years ended December 31,

2008

2007

2006

2005

2004

in millions

Earnings

Earnings before income taxes and minority interests

$

1,178

$

1,169

$

1,083

$

798

$

432

Add:

Fixed charges

94

98

134

144

142

Amortization of capitalized interest

3

6

5

5

4

Distributed income of equity investees

186

107

75

110

60

Less:

Equity in earnings of investees

(231

)

(192

)

(119

)

(109

)

(99

)

Capitalized interest

(6

)

(1

)

(4

)

(2

)

—

Earnings before fixed charges

$

1,224

$

1,187

$

1,174

$

946

$

539

Fixed charges

Interest expense

$

42

$

58

$

96

$

109

$

111

Capitalized interest

6

1

4

2

—

Amortization of debt discount

2

1

1

2

4

Interest portion of rental expense(1)

44

38

33

31

27

Total fixed charges

$

94

$

98

$

134

$

144

$

142

Ratio of earnings to fixed charges

13.0

12.1

8.8

6.6

3.8