In millions 

2012

2011

2010

2009

2008

Earnings

Earnings before income taxes and noncontrolling interests

$

2,271

$

2,671

$

1,617

$

640

$

1,178

Add

Fixed charges

104

106

95

87

99

Amortization of capitalized interest

2

2

3

5

3

Distributed income of equity investees

329

341

178

215

186

Less

Equity in earnings of investees

347

375

321

196

231

Capitalized interest

7

4

5

6

11

Earnings before fixed charges

$

2,352

$

2,741

$

1,567

$

745

$

1,224

Fixed charges

Interest expense

$

32

$

44

$

40

$

35

$

42

Capitalized interest

7

4

5

6

11

Amortization of debt discount

6

2

1

2

2

Interest portion of rental expense (1)

59

56

49

44

44

Total fixed charges

$

104

$

106

$

95

$

87

$

99

Ratio of earnings to fixed charges

22.6

25.9

16.5

8.6

12.4