|                                                          |   |          |         |            |        |         |
|---------------------------------------------------------------|--------|---------------|--------------|-----------------|-------------|--------------|
|                                                          |   |          |         |            |        |         |
|                                                          |   |          |         |            |        |         |
|                                                          |   |          |         |            |        |         |
|                                                          |   |          |         | Ratio of        |
|                                                          |   |          |         | earnings to     |
|                                                          |   |          |         | combined        |
|                                                          |   | Ratio of      |         | fixed charges   |
|                                                          |   | earnings to   |         | and preferred   |
|                                                          |   | fixed charges |         | stock dividends |
| (Dollars in millions)                                         |   |          |         |            |        |         |
|                                                          |   |          |         |            |        |         |
| Earnings(a)                                                   |   | $             | 5,621   |            | $           | 5,621   |
| Plus:                                                         |   |          |         |            |        |         |
|    Interest included in expense(b)             |   |          | 7,046   |            |        | 7,046   |
|    One-third of rental expense(c)              |   |          | 112     |            |        | 112     |
| Adjusted “earnings”                               |   | $             | 12,779  |            | $           | 12,779  |
|                                                          |   |          |         |            |        |         |
| Fixed charges:                                                |   |          |         |            |        |         |
|   Interest included in expense(b)                   |   | $             | 7,046   |            | $           | 7,046   |
|   Interest capitalized                              |   |          | (20)         |            |        | (20)         |
|   One-third of rental expense(c)                    |   |          | 112     |            |        | 112     |
| Total fixed charges                                           |   | $             | 7,138   |            | $           | 7,138   |
|                                                          |   |          |         |            |        |         |
| Ratio of earnings to fixed charges                            |   |          | 1.79    |            |        |         |
|                                                          |   |          |         |            |        |         |
| Preferred stock dividend requirements                         |   |          |         |            | $           | 135     |
|                                                          |   |          |         |            |        |         |
| Ratio of earnings before provision for income taxes to        |   |          |         |            |        |         |
|   earnings from continuing operations               |   |          |         |            |        | 1.02    |
|                                                          |   |          |         |            |        |         |
| Preferred stock dividend factor on pre-tax basis              |   |          |         |            |        | 138     |
| Fixed charges                                                 |   |          |         |            | $           | 7,138   |
|                                                          |   |          |         |            |        |         |
| Total fixed charges and preferred stock dividend requirements |   |          |         | $               | 7,276  |
|                                                          |   |          |         |            |        |         |
| Ratio of earnings to combined fixed charges and               |   |          |         |            |        |         |
|   preferred stock dividends                         |   |          |         |            |        | 1.76    |
|                                                          |   |          |         |            |        |         |
|                                                          |   |          |         |            |        |         |

| (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. |
|-----------------|-----------------------------------------------------------------------|