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   <TITLE>EXHIBIT 12(a)</TITLE>
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<center><font face="Arial"><font size=-1>EXHIBIT 12(a)</font></font>
<p><u><font face="Arial"><font size=-1>COMPUTATION OF RATIO OF INCOME TO
FIXED CHARGES</font></font></u>
<p><u><font face="Arial"><font size=-1>SEARS, ROEBUCK AND CO. AND CONSOLIDATED
SUBSIDIARIES</font></font></u></center>

<table BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="729" BORDERCOLOR="#000000" >
<tr>
<td VALIGN=TOP WIDTH="35%">
<br> 
<br> 
<br> 
<p><i><font face="Arial"><font size=-2>(millions, except ratios)</font></font></i></td>

<td VALIGN=TOP WIDTH="8%">
<center><font face="Arial"><font size=-2>Twelve</font></font>
<br><font face="Arial"><font size=-2>Months</font></font>
<br><font face="Arial"><font size=-2>Ended</font></font>
<br><font face="Arial"><font size=-2>Apr 1,</font></font>
<br><font face="Arial"><font size=-2>2000</font></font>
<br><u><font face="Arial"><font size=-2>(unaudited)</font></font></u></center>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<center><font face="Arial"><font size=-2>Three</font></font>
<br><font face="Arial"><font size=-2>Months</font></font>
<br><font face="Arial"><font size=-2>Ended</font></font>
<br><font face="Arial"><font size=-2>Apr 1,</font></font>
<br><font face="Arial"><font size=-2>2000</font></font>
<br><u><font face="Arial"><font size=-2>(unaudited)</font></font></u></center>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<br> 
<br> 
<center>
<p><font face="Arial,Helvetica"><font size=-2>Year Ended</font></font>
<br><u><font face="Arial"><font size=-2>1999</font></font></u></center>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<br> 
<br> 
<center>
<p><font face="Arial,Helvetica"><font size=-2>Year Ended</font></font>
<br><u><font face="Arial"><font size=-2>1998</font></font></u></center>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<br> 
<br> 
<center>
<p><font face="Arial,Helvetica"><font size=-2>Year Ended</font></font>
<br><u><font face="Arial"><font size=-2>1997</font></font></u></center>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="8%">
<br> 
<br> 
<center>
<p><font face="Arial,Helvetica"><font size=-2>Year Ended</font></font>
<br><u><font face="Arial"><font size=-2>1996</font></font></u></center>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<br> 
<br> 
<center>
<p><font face="Arial,Helvetica"><font size=-2>Year Ended</font></font>
<br><u><font face="Arial"><font size=-2>1995</font></font></u></center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Fixed Charges</font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Interest and
amortization of debt discount</font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>and expense
on all indebtedness</font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,251</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$ 316</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,268</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,423</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,409</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>$1,365</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>$1,373</font></font></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Add interest
element implicit in rentals</font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>132</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>35</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>133</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>144</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>147</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><u><font face="Arial"><font size=-2>121</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u><font face="Arial"><font size=-2>119</font></font></u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,383</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>351</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,401</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,567</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,556</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>1,486</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>1,492</font></font></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Interest Capitalized </font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>5</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>-</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>5</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>5</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>3</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><u><font face="Arial"><font size=-2>5</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u><font face="Arial"><font size=-2>4</font></font></u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Total fixed
charges </font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,388</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%"><u></u></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$ 351</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"><u></u></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,406</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"><u></u></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,572</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"><u></u></td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,559</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"><u></u></td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>$1,491</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%"><u></u></td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>$1,496</font></font>
<hr WIDTH="100%"></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><u> </u></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Income </font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Income from
continuing operations</font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,542</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$ 235</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,453</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,072</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>$1,188</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>$1,271 </font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>$1,025</font></font></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Deduct undistributed
net income </font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>of unconsolidated
companies</font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>(7)</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>- </font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>(5)</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>11</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>13</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><u><font face="Arial"><font size=-2>8</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u><font face="Arial"><font size=-2>9</font></font></u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,549</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>235</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,458</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,061</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,175</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>1,263</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>1,016</font></font></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Add</font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Fixed charges
(excluding interest capitalized)</font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,383</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>351</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,401</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,567</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>1,556</font></font></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>1,486</font></font></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>1,492</font></font></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Income taxes </font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>952</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>140</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>904</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>766</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><u><font face="Arial"><font size=-2>912</font></font></u></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><u><font face="Arial"><font size=-2>834</font></font></u></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u><font face="Arial"><font size=-2>703</font></font></u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Income before
fixed charges and</font></font></td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%" HEIGHT="19"><font face="Arial"><font size=-2>income
taxes</font></font></td>

<td VALIGN=TOP WIDTH="8%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$ 3,884</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%" HEIGHT="19"></td>

<td VALIGN=TOP WIDTH="8%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$ 726</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%" HEIGHT="19"></td>

<td VALIGN=TOP WIDTH="8%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$3,763</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%" HEIGHT="19"></td>

<td VALIGN=TOP WIDTH="8%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$3,394</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%" HEIGHT="19"></td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$3,643</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%" HEIGHT="19"></td>

<td VALIGN=TOP WIDTH="7%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$3,583</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%" HEIGHT="19"></td>

<td VALIGN=TOP WIDTH="10%" HEIGHT="19">
<div align=right><font face="Arial"><font size=-2>$3,211</font></font>
<hr WIDTH="100%"></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%"> </td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%"> </td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%"> </td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="35%"><font face="Arial"><font size=-2>Ratio of income
to fixed charges </font></font></td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>2.80</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>2.07</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>2.68</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="3" WIDTH="2%"> </td>

<td VALIGN=TOP WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>2.16</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP COLSPAN="3" WIDTH="8%">
<div align=right><font face="Arial"><font size=-2>2.34</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="7%">
<div align=right><font face="Arial"><font size=-2>2.40</font></font>
<hr WIDTH="100%"></div>
</td>

<td VALIGN=TOP WIDTH="1%"> </td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><font face="Arial"><font size=-2>2.15</font></font>
<hr WIDTH="100%"></div>
</td>
</tr>
</TABLE>

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