Six months

ended

June 30,

Year

Year

Year

Year

Year

2017

2016

2015

2014

2013

2012

EARNINGS

Income before income taxes

$

3,879

$

7,053

$

6,823

$

7,026

$

6,562

$

6,351

Add:

Interest expense (including amortization of capitalized interest)

109

219

171

164

166

191

Portion of rent under operating leases representative of the interest component

53

100

101

104

103

92

Less:

Equity in undistributed income of 20-50% owned companies

 5

 9

 5

(1)

(1)

 3

TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES

$

4,036

$

7,363

$

7,090

$

7,295

$

6,832

$

6,631

FIXED CHARGES

Interest on debt (including capitalized interest)

105

208

162

159

166

194

Portion of rent under operating leases representative of the interest component

53

100

101

104

103

92

TOTAL FIXED CHARGES

$

158

$

308

$

263

$

263

$

269

$

286

RATIO OF EARNINGS TO FIXED CHARGES

25.5

23.9

27.0

27.7

25.4

23.2