EXHIBIT 12-28



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|                                                        |                                                    |                             |                                       |  |  |   |      |     | Year Ended December 31                  
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|                                                        |                                                    |                             |                                       |  |  |   |      |     | 2000                                     |     |   |      | 1999 |    |     | 1998  |    
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|                                                        |                                                    |                             |                                       |  |  |   |      |     | (Millions, except for ratio and percent)
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|Net income                                              |                                                    |                             |                                       |  |  | $ | 468  |     |                                          |     | $ | 483  |      |    | $   | 443   |    
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|Taxes based on income:                                 
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|                                                        | Income taxes                                       |                             |                                       |  |  |   |      | 9   |                                          |     |   |      | 60   |    |     |       | 154 |    
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|                                                        | Municipal and state                                |                             |                                       |  |  |   |      | 3   |                                          |     |   |      | 3    |    |     |       | 3   |    
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|                                                        |                                                    | Total taxes based on income |                                       |  |  |   |      |     | 12                                       |     |   |      |      | 63 |     |       |     | 157 |  
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|Fixed charges:                                         
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|                                                        | Interest on long-term debt                         |                             |                                       |  |  |   |      | 260 |                                          |     |   |      | 279  |    |     |       | 279 |    
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|                                                        | Amortization of debt discount, premium
and expense |                             |                                       |  |  |   |      | 11  |                                          |     |   |      | 18   |    |     |       | 11  |    
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|                                                        | Other interest                                     |                             |                                       |  |  |   |      | 65  |                                          |     |   |      | 47   |    |     |       | 29  |    
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|                                                        | Interest factor of rents                           |                             |                                       |  |  |   |      | 34  |                                          |     |   |      | 34   |    |     |       | 34  |    
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|                                                        | Preferred stock dividend factor                    |                             |                                       |  |  |   |      |    |                                          |     |   |      |     |    |     |       | 7   |    
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|Total fixed charges                                     |                                                    |                             |                                       |  |  |   | 370  |     |                                          |     |   | 378  |      |    |     | 360   |    
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|Earnings before taxes based on income
and fixed charges |                                                    |                             |                                       |  |  | $ | 850  |     |                                          |     | $ | 924  |      |    | $   | 960   |    
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|Ratio of earnings to fixed charges                      |                                                    |                             |                                       |  |  |   | 2.30 |     |                                          |     |   | 2.44 |      |    |     | 2.67  |    
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|Preferred stock dividends                               |                                                    |                             |                                       |  |  | $ |     |     |                                          |     | $ |     |      |    | $   | 6     |    
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|Dividends meeting requirement of
IRC Section 247        |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 4     |    
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|Percent deductible for income tax purposes              |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 40.00 | %  
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|Amount deductible                                       |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 2     |    
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|Amount not deductible                                   |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 4     |    
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|Ratio of pretax income to net income                    |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 1.35  |    
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|Dividend factor for amount not deductible               |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 5     |    
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|Amount deductible                                       |                                                    |                             |                                       |  |  |   | N/A  |     |                                          |     |   | N/A  |      |    |     | 2     |    
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|                                                        |                                                    |                             | Total preferred stock dividend factor |  |  |   |      |     | $                                        | N/A |   |      |      | $  | N/A |       |     | $   | 7 | 
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