Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, | ||||||||||||||||||||
| (in millions, except ratios) |
2007 | 2008 | 2009 | 2010 | 2011 | |||||||||||||||
| Earnings: |
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| Pre-tax income from continuing operations |
$ | 5,674 | $ | 5,854 | $ | 8,381 | $ | 10,796 | $ | 12,326 | ||||||||||
| Add: |
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| Fixed charges |
56 | 108 | 109 | 103 | 185 | |||||||||||||||
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| Pre-tax income from continuing operations plus fixed charges |
$ | 5,730 | $ | 5,962 | $ | 8,490 | $ | 10,899 | $ | 12,511 | ||||||||||
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| Fixed charges: |
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| Interest expense and amortization of capitalized expenses related to indebtedness |
$ | 1 | $ | 3 | $ | 1 | $ | 5 | $ | 58 | ||||||||||
| Estimated interest component included in rent expense |
55 | 105 | 108 | 98 | 127 | |||||||||||||||
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| Total fixed charges |
$ | 56 | $ | 108 | $ | 109 | $ | 103 | $ | 185 | ||||||||||
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| Ratio of earnings to fixed charges |
103 | 55 | 78 | 106 | 68 | |||||||||||||||