Year ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
(dollars in millions) | |||||||||||||||||||
Income from continuing operations before income taxes and equity income | $ | 1,508 | $ | 1,615 | $ | 1,466 | $ | 1,259 | $ | 1,351 | |||||||||
Cash dividends received from non-consolidated affiliates and other | (56 | ) | (60 | ) | (38 | ) | 57 | (24 | ) | ||||||||||
Portion of rentals deemed to be interest | 34 | 38 | 36 | 33 | 31 | ||||||||||||||
Interest and related charges on debt | 185 | 169 | 182 | 137 | 139 | ||||||||||||||
Earnings available for fixed charges | $ | 1,671 | $ | 1,762 | $ | 1,646 | $ | 1,486 | $ | 1,497 | |||||||||
Fixed charges: | |||||||||||||||||||
Portion of rentals deemed to be interest | $ | 34 | $ | 38 | $ | 36 | $ | 33 | $ | 31 | |||||||||
Interest and related charges on debt | 185 | 169 | 182 | 137 | 139 | ||||||||||||||
Total fixed charges | $ | 219 | $ | 207 | $ | 218 | $ | 170 | $ | 170 | |||||||||
Ratio of earnings to fixed charges | 7.6 | 8.5 | 7.6 | 8.7 | 8.8 | ||||||||||||||