Year Ended December 31, | |||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||
(In millions except ratios) | |||||||||||||||
EARNINGS: | |||||||||||||||
Income from continuing operations before income taxes and changes in accounting principles | $ | 8,136 | $ | 9,605 | $ | 9,325 | $ | 11,477 | $ | 11,809 | |||||
Fixed charges | 804 | 931 | 569 | 553 | 486 | ||||||||||
Less: | |||||||||||||||
Capitalized interest, net | (3 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | |||||
Equity (income) loss — net of dividends | (449 | ) | (122 | ) | (371 | ) | (201 | ) | (426 | ) | |||||
Adjusted earnings | $ | 8,488 | $ | 10,413 | $ | 9,522 | $ | 11,828 | $ | 11,868 | |||||
FIXED CHARGES: | |||||||||||||||
Gross interest incurred | $ | 736 | $ | 857 | $ | 484 | $ | 464 | $ | 398 | |||||
Interest portion of rent expense | 68 | 74 | 85 | 89 | 88 | ||||||||||
Total fixed charges | $ | 804 | $ | 931 | $ | 569 | $ | 553 | $ | 486 | |||||
Ratios of earnings to fixed charges | 10.6 | 11.2 | 16.7 | 21.4 | 24.4 |