Year

Year

Year

Year

Year

2013

2012

2011

2010

2009

EARNINGS

Income before income taxes*

$

6,562

$

6,351

$

6,031

$

5,755

$

4,632

Add:

Interest expense (including amortization of capitalized interest)

166

191

206

220

236

Interest component of the ESOP benefit expense

––

––

––

––

1

Portion of rent under operating leases representative of the interest component

103

92

85

81

76

Less:

Equity in undistributed income of 20-50% owned companies

(1

)

3

4

4

4

TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES

$

6,832

$

6,631

$

6,318

$

6,052

$

4,941

FIXED CHARGES

Interest on debt (including capitalized interest)

166

194

206

218

246

Interest component of the ESOP benefit expense

––

––

––

––

1

Portion of rent under operating leases representative of the interest component

103

92

85

81

76

TOTAL FIXED CHARGES

$

269

$

286

$

291

$

299

$

323

RATIO OF EARNINGS TO FIXED CHARGES

25.4

23.2

21.7

20.2

15.3