Year Ended December 31, | ||||||||||||||||||||
(Dollars in Millions) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) before income taxes and noncontrolling interests | $ | 170 | $ | (2,232 | ) | $ | 6 | $ | 27 | $ | (385 | ) | ||||||||
Fixed charges, as shown below | 301 | 373 | 306 | 280 | 259 | |||||||||||||||
Adjustment for equity income | (142 | ) | (40 | ) | (144 | ) | (85 | ) | (20 | ) | ||||||||||
Capitalized Interest | (14 | ) | (19 | ) | (41 | ) | (39 | ) | (16 | ) | ||||||||||
Distributions from equity affiliates | 8 | 13 | 99 | 33 | 6 | |||||||||||||||
Adjusted Earnings (Loss) (A) | $ | 323 | $ | (1,905 | ) | $ | 226 | $ | 216 | $ | (156 | ) | ||||||||
Fixed charges: | ||||||||||||||||||||
Portion of rentals representing interest(a) | $ | 41 | $ | 41 | $ | 34 | $ | 36 | $ | 32 | ||||||||||
Capitalized interest | 14 | 19 | 41 | 39 | 16 | |||||||||||||||
Other interest and fixed charges | 246 | 313 | 231 | 205 | 211 | |||||||||||||||
Total fixed charges (B) | $ | 301 | $ | 373 | $ | 306 | $ | 280 | $ | 259 | ||||||||||
Ratio of (A) to (B) | 1.07 | (d) | (c) | (b) | (a) | |||||||||||||||
(a) | The interest portion of the rental expense is calculated based on the proportion deemed representative of the interest component (i.e., one third of rental expense). |
(b) | Earnings did not cover fixed charges by $415 million. |
(c) | Earnings did not cover fixed charges by $64 million. |
(d) | Earnings did not cover fixed charges by $80 million. |
(e) | Earnings did not cover fixed charges by $2,278 million. |
(f) | Earnings did cover fixed charges by $21 million. |