<TABLE>
                STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
                            EARNINGS TO FIXED CHARGES
                             (Dollars in Thousands)
<CAPTION>
                                                  12 Months
                                                     Ending                    Year Ended December 31,
                                         September 30, 2000        1999         1998         1997        1996         1995
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------
<S>                                                <C>         <C>          <C>          <C>         <C>          <C>
EARNINGS AVAILABLE FOR
 FIXED CHARGES
  Pre-tax income:
    Income from continuing

      operations per statement
      of income                                    $184,390    $185,567     $169,612     $125,698    $167,351     $128,382
    Federal income taxes                            113,749     109,164      105,814       44,916     106,876       91,519
    Federal income taxes charged
      to other income - net                           5,980       2,909        3,986       14,807        (784)     (11,967)
    Capitalized interest                             (1,588)     (3,692)      (1,782)        (360)        (600)       (660)
    Undistributed (earnings) or
      losses of less-than-
      fifty-percent-owned
      entities                                           --          --           --         (608)        460        8,325
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------
Total                                              $302,531    $293,948     $277,630     $184,453    $273,303     $215,599
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------

  Fixed charges:
    Interest expense                               $180,999    $160,966     $146,248     $123,543    $122,635     $131,346
    Other interest                                    1,588       3,692        1,782          360         600          660
    Portion of rentals
      representative of the
      interest factor                                 4,948       4,575        2,878        3,143       4,187        5,150
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------
Total                                              $187,535    $169,233     $150,908     $127,046    $127,422     $137,156
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------

  Earnings available for

    combined fixed charges                         $490,066    $463,181     $428,538     $311,499    $400,725     $352,755
RATIO OF EARNINGS TO
  FIXED CHARGES                                       2.61x       2.74x        2.84x        2.45x       3.14x        2.57x
</TABLE>


<PAGE>

<TABLE>


                                 STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
                         EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
                                               (Dollars in Thousands)
<CAPTION>
                                                 12 Months
                                                    Ending                       Year Ended December 31,
                                         September 30, 2000         1999         1998         1997         1996         1995
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
<S>                                                <C>          <C>          <C>          <C>          <C>          <C>
EARNINGS AVAILABLE FOR COMBINED
 FIXED CHARGES AND PREFERRED
 DIVIDEND REQUIREMENTS

  Pretax income:
    Income from continuing

      operations per statement
      of income                                    $184,390     $185,567     $169,612     $125,698     $167,351     $128,382
    Federal income taxes                            113,749      109,164      105,814       44,916      106,876       91,519
    Federal income taxes charged
      to other income - net                           5,980        2,909        3,986      14,807           (784)    (11,967)
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
Subtotal                                            304,119      297,640      279,412      185,421      273,443      207,934
  Capitalized interest                              (1,588)      (3,692)       (1,782)        (360)         (600)       (660)
  Undistributed (earnings) or
    losses of less-than-fifty-
    percent-owned entities                               --           --          --          (608)         460        8,325
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
Total                                              $302,531     $293,948     $277,630     $184,453     $273,303     $215,599
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------

  Fixed charges:
    Interest expense                               $180,999     $160,966     $146,248     $123,543     $122,635     $131,346
    Other interest                                    1,588        3,692        1,782          360          600          660
    Portion of rentals
      representative of the
      interest factor                                 4,948        4,575        2,878        3,143        4,187        5,150
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
Total                                              $187,535     $169,233     $150,908     $127,046     $127,422     $137,156
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------

Earnings available for
  combined fixed charges
  and preferred dividend
  Requirements                                     $490,066     $463,181     $428,538     $311,499     $400,725     $352,755

DIVIDEND REQUIREMENT:
  Fixed charges above                              $187,535     $169,233     $150,908     $127,046     $127,422     $137,156
  Preferred dividend
    requirements below                               15,070       17,747       21,421       26,266       36,242       36,693
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
Total                                              $202,605     $186,980     $172,329     $153,312     $163,664     $173,849
------------------------------------- ---------------------- ------------ ------------ ------------ ------------ ------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                  12 Months
                                                     Ending                     Year Ended December 31,
                                         September 30, 2000        1999         1998         1997        1996         1995
------------------------------------- ---------------------- ----------- ------------ ------------ ----------- ------------
<S>                                                <C>         <C>          <C>          <C>         <C>          <C>
RATIO OF EARNINGS TO COMBINED
  FIXED CHARGES AND PREFERRED
  DIVIDEND REQUIREMENTS                                2.42        2.48         2.49         2.03        2.45         2.03

COMPUTATION OF PREFERRED
  DIVIDEND REQUIREMENTS:
  (a) Pre-tax income                               $304,119    $297,640     $279,412    $185, 421    $273,443     $207,934
  (b) Income from continuing
        operations                                 $184,390    $185,567     $169,612     $125,698    $167,351     $128,382
  (c) Ratio of (a) to (b)                            1.6493      1.6039       1.6474       1.4751      1.6339       1.6197
  (d) Preferred dividends                           $ 9,137    $ 11,065     $ 13,003     $ 17,806    $ 22,181     $ 22,654
  Preferred dividend
    requirements

      [(d) multiplied by (c)]                      $ 15,070    $ 17,747     $ 21,421     $ 26,266    $ 36,242     $ 36,693
</TABLE>