For the years ended December 31,

2006

2005

2004

2003

2002

Millions

Earnings

Earnings before income taxes, minority interests, dividends on preferred securities of subsidiary trust and cumulative effect of change in accounting principles

$

1,083

$

798

$

432

$

91

$

78

Add:

Fixed charges

134

144

142

134

113

Amortization of capitalized interest

5

5

4

3

6

Distributed income of equity investees

75

110

60

17

10

Less:

Equity in earnings of investees

(119

)

(109

)

(99

)

(66

)

(20

)

Capitalized interest

(4

)

(2

)

—

(1

)

(1

)

Preferred dividends of consolidated subsidiaries

—

—

—

(11

)

(21

)

Earnings before fixed charges

$

1,174

$

946

$

539

$

167

$

165

Fixed charges

Interest expense

$

96

$

109

$

111

$

90

$

61

Capitalized interest

4

2

—

1

1

Amortization of premiums, discounts, and capitalized expenses related to indebtedness

1

2

4

2

1

Interest portion of rental expense(1)

33

31

27

30

29

Preferred dividends of consolidated subsidiaries

—

—

—

11

21

Total fixed charges

$

134

$

144

$

142

$

134

$

113

Ratio of earnings to fixed charges

8.8

6.6

3.8

1.2

1.5