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EXHIBIT 12.2 STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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Nine Months Ended Year Ended December 31
September 30
2000 1999 1998 1997 1996 1995
(in millions, except ratios)
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<S> <C> <C> <C> <C> <C> <C>
Earnings
Income (Loss) Before Income Taxes $634.5 $(165.5) $ 920.2 $ 916.7 $567.8 $557.9
Fixed Charges 147.9 155.2 138.3 101.1 71.9 73.1
------ ------- -------- -------- ------ ------
Adjusted Earnings $782.4 $ (10.3) $1,058.5 $1,017.8 $639.7 $631.0
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Combined Fixed Charges and Preferred
Stock Dividends
Interest and Debt Expense $136.2 $ 137.8 $ 119.9 $ 84.9 $ 58.5 $ 59.5
Amortization of Deferred Debt Costs 1.8 2.4 3.3 0.7 - 0.7
Portion of Rents Deemed
Representative of Interest (a) 9.9 15.0 15.1 15.5 13.4 12.9
Preferred Stock Dividends - - 2.9 19.5 19.5 19.5
------ ------- -------- -------- ------ ------
Total Combined Fixed Charges and
Preferred Stock Dividends $147.9 $ 155.2 $ 141.2 $ 120.6 $ 91.4 $ 92.6
====== ======= ======== ======== ====== ======
Ratio of Earnings to Combined
Fixed Charges and Preferred Stock
Dividends 5.3 (0.1) 7.5 8.4 7.0 6.8
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(a) Generally deemed to be one-third of rental expense.
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