Six months ended June 30 | Year ended December 31 | |||||||||||||||||||||||
(Millions of dollars) | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests in consolidated subsidiaries | $ | 787 | $ | 1,553 | $ | 1,036 | $ | 303 | $ | 1,140 | $ | 1,055 | ||||||||||||
Adjustments | ||||||||||||||||||||||||
(Income) losses of equity investees | 4 | (2 | ) | (14 | ) | (6 | ) | (11 | ) | (6 | ) | |||||||||||||
Distributed income of equity investees | 2 | 3 | 15 | 9 | 1 | 1 | ||||||||||||||||||
Interest expensed | 71 | 154 | 162 | 170 | 192 | 193 | ||||||||||||||||||
Amortization of debt issue costs | 2 | 4 | 4 | 5 | 2 | 1 | ||||||||||||||||||
Estimated portion of rent expense representing interest | 32 | 65 | 57 | 59 | 58 | 44 | ||||||||||||||||||
Amortization of capitalized interest | 6 | 10 | 10 | 13 | 13 | 12 | ||||||||||||||||||
Adjusted income from continuing operations before income taxes | $ | 904 | $ | 1,787 | $ | 1,270 | $ | 553 | $ | 1,395 | $ | 1,300 | ||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expensed | $ | 71 | $ | 154 | $ | 162 | $ | 170 | $ | 192 | $ | 193 | ||||||||||||
Interest capitalized | 12 | 18 | 8 | 7 | 13 | 14 | ||||||||||||||||||
Amortization of debt issue costs | 2 | 4 | 4 | 5 | 2 | 1 | ||||||||||||||||||
Estimated portion of rent expense representing interest | 32 | 65 | 57 | 59 | 58 | 44 | ||||||||||||||||||
Total fixed charges | $ | 117 | $ | 241 | $ | 231 | $ | 241 | $ | 265 | $ | 252 | ||||||||||||
Ratio of earnings to fixed charges | 7.73 | 7.41 | 5.50 | 2.29 | 5.26 | 5.16 | ||||||||||||||||||