Year Ended December 31, | |||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||
(In millions except ratios) | |||||||||||||||
EARNINGS: | |||||||||||||||
Income from continuing operations before income taxes and changes in accounting principles | $ | 9,325 | $ | 11,477 | $ | 11,809 | $ | 11,458 | $ | 14,207 | |||||
Fixed charges | 569 | 553 | 486 | 505 | 792 | ||||||||||
Less: | |||||||||||||||
Capitalized interest, net | (1 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | |||||
Equity (income) loss - net of dividends | (371 | ) | (201 | ) | (426 | ) | (269 | ) | (671 | ) | |||||
Adjusted earnings | $ | 9,522 | $ | 11,828 | $ | 11,868 | $ | 11,693 | $ | 14,327 | |||||
FIXED CHARGES: | |||||||||||||||
Gross interest incurred | $ | 484 | $ | 464 | $ | 398 | $ | 418 | $ | 734 | |||||
Interest portion of rent expense | 85 | 89 | 88 | 87 | 58 | ||||||||||
Total fixed charges | $ | 569 | $ | 553 | $ | 486 | $ | 505 | $ | 792 | |||||
Ratios of earnings to fixed charges | 16.7 | 21.4 | 24.4 | 23.2 | 18.1 |