Three Months Ended March 31, | |||||||
2014 | 2013 | ||||||
Earnings: | |||||||
Pre-tax income from continuing operations before adjustment for net income attributable to the noncontrolling interests and equity earnings (including amortization of excess cost of equity investments) per statements of income | $ | 712 | $ | 845 | |||
Add: | |||||||
Fixed charges | 476 | 429 | |||||
Amortization of capitalized interest | 1 | 1 | |||||
Distributed income of equity investees | 77 | 101 | |||||
Less: | |||||||
Interest capitalized from continuing operations | (18 | ) | (9 | ) | |||
Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges | 74 | 98 | |||||
Income as adjusted | $ | 1,322 | $ | 1,465 | |||
Fixed charges: | |||||||
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs; excludes capitalized interest) | $ | 467 | $ | 419 | |||
Add: | |||||||
Portion of rents representative of the interest factor | 9 | 10 | |||||
Fixed charges | $ | 476 | $ | 429 | |||
Ratio of earnings to fixed charges | 2.78 | 3.41 | |||||