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|                                                                                                                                                                   |   | In accordance with International Financial Reporting Standards |   | In accordance with U.S. Generally Accepted Accounting Principles |
|                                                                                                                                                                   |   |   |  |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                   |   | Year Ended December 31 |   | July 6-December 312009 |   | January 1-July 52009 |   | Year Ended  |
|                                                                                                                                                                   |   | 2012 |   | 2011 |   | 2010 |   |   |   | December 31 2008 |
| (millions of U.S. dollars, unless otherwise noted)                                                                                                                |   | Successor |   | Successor |   | Predecessor |
| Earnings:                                                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) from continuing operations                                                                                                                               |   | $ | 558 |  |   | $ | 608 |  |   | $ | 237 |  |   | $ | 9 |  |   | $ | (236 | ) |   | $ | 121 |  |
| Adjustments for minority interest in losses of less than 100% owned affiliates and our equity in undistributed income (losses) of less than 50% owned equity investees |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Income tax expense (recovery)                                                                                                                                          |   | 156 |  |   | 215 |  |   | 124 |  |   | 7 |  |   | (62 | ) |   | (63 | ) |
| Fixed charges                                                                                                                                                          |   | 157 |  |   | 182 |  |   | 205 |  |   | 93 |  |   | 102 |  |   | 175 |  |
| Capitalized interest, net of amortization of capitalized interest                                                                                                      |   | (4 | ) |   | — |  |   | — |  |   | (1 | ) |   | — |  |   | — |  |
| Total Earnings                                                                                                                                                         |   | $ | 867 |  |   | 1,005 |  |   | 566 |  |   | 108 |  |   | (196 | ) |   | 233 |  |
|                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Charges:                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                                                                                                       |   | $ | 157 |  |   | $ | 182 |  |   | $ | 205 |  |   | $ | 93 |  |   | $ | 102 |  |   | $ | 175 |  |
| Pre-tax earnings required to cover preferred stock dividends                                                                                                           |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Total Fixed Charges                                                                                                                                                    |   | $ | 157 |  |   | $ | 182 |  |   | $ | 205 |  |   | $ | 93 |  |   | $ | 102 |  |   | $ | 175 |  |
|                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings to Fixed Charges Excess (Deficiency)                                                                                                                          |   | $ | 710 |  |   | $ | 823 |  |   | $ | 361 |  |   | $ | 15 |  |   | $ | (298 | ) |   | $ | 58 |  |
| Ratio of Earnings to Fixed Charges(1)(2)                                                                                                                               |   | 5.5 |  |   | 5.5 |  |   | 2.8 |  |   | 1.2 |  |   | N/A |  |   | 1.3 |  |

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| (1) | For the purposes of calculating the ratio of earnings to fixed charges, “earnings” represent income from continuing operations adjusted for the minority interest in losses of less than 100% owned affiliates, equity in undistributed income or losses of less than 50% owned affiliates, income taxes and fixed charges, less capitalized interest, net of amortization of capitalized interest. “Fixed charges” include interest expense (including amortization of bond discounts and debt issue costs, capitalized interest and a representative portion of rental expense) and pre-tax earnings required to cover preferred stock dividends. |
| (2) | For the period January 1, 2009 to July 5, 2009, earnings were insufficient to cover fixed charges by approximately $298 million, and this ratio is not meaningful. |