|                                                                      |          |        |   | Ratio of        |
|---------------------------------------------------------------------------|---------------|-------------|--------|-----------------|
|                                                                      |          |        |   | earnings to     |
|                                                                      |          |        |   |            | combined |
|                                                                      | Ratio of      |        |   | fixed charges   |
|                                                                      | earnings to   |        |   | and preferred   |
|                                                                      | fixed charges |        |   | stock dividends |
| (Dollars in millions)                                                     |          |        |   |            |   |
|                                                                      |          |        |   |            |   |
| Earnings(a)                                                               | $             | 2,196  |   | $               | 2,196  |
| Plus:                                                                     |          |        |   |            |   |
|    Interest included in expense(b)                         |          | 3,667  |   |            | 3,667  |
|    One-third of rental expense(c)                          |          | 53     |   |            | 53  |
| Adjusted “earnings”                                           | $             | 5,916  |   | $               | 5,916  |
|                                                                      |          |        |   |            |   |
| Fixed charges:                                                            |          |        |   |            |   |
|   Interest included in expense(b)                               | $             | 3,667  |   | $               | 3,667  |
|   Interest capitalized                                          |          | 6      |   |            | 6  |
|   One-third of rental expense(c)                                |          | 53     |   |            | 53  |
| Total fixed charges                                                       | $             | 3,726  |   | $               | 3,726  |
|                                                                      |          |        |   |            |   |
| Ratio of earnings to fixed charges                                        |          | 1.59   |   |            |   |
|                                                                      |          |        |   |            |   |
| Preferred stock dividend requirements                                     |          |        |   | $               | –  |
|                                                                      |          |        |   |            |   |
| Ratio of earnings before provision for income taxes to earnings from      |          |        |   |            |   |
|    continuing operations                                   |          |        |   |            | 1.23  |
|                                                                      |          |        |   |            |   |
| Preferred stock dividend factor on pre-tax basis                          |          |        |   |            | –  |
| Fixed charges                                                             |          |        |   | $               | 3,726  |
|                                                                      |          |        |   |            |   |
| Total fixed charges and preferred stock dividend requirements             |          |        |   | $               | 3,726  |
|                                                                      |          |        |   |            |   |
| Ratio of earnings to combined fixed charges and preferred stock dividends |          |        |   |            | 1.59  |
|                                                                      |          |        |   |            |   |
|                                                                      |          |        |   |            |   |
|                                                                      |          |        |   |            |   |

| (a)   | Earnings before income taxes, noncontrolling interests, discontinued operations and undistributed earnings of equity investees. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Included interest on tax deficiencies. |
|-----------------|----------------------------------------|

| (c)   | Considered to be representative of interest factor in rental expense. |
|-----------------|-----------------------------------------------------------------------|