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Year Ended December 31,
|
2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||
|
Income from continuing operations before income taxes
|
$ | 378 | $ | 1,631 | $ | 1,731 | $ | 1,793 | $ | 2,375 | ||||||||||
|
Adjustments:
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Loss (income) from equity investee
|
(12 | ) | (5 | ) | 1 | 1 | 1 | |||||||||||||
|
Income before income taxes, as adjusted
|
$ | 366 | $ | 1,626 | $ | 1,732 | $ | 1,794 | $ | 2,376 | ||||||||||
|
Fixed charges included in income:
|
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Interest expense
|
$ | 146 | $ | 122 | $ | 104 | $ | 105 | $ | 107 | ||||||||||
|
Interest portion of rental expense
|
45 | 34 | 34 | 36 | 43 | |||||||||||||||
| 191 | 156 | 138 | 141 | 150 | ||||||||||||||||
|
Interest credited to contractholders
|
6 | 7 | — | 1 | 446 | |||||||||||||||
| $ | 197 | $ | 163 | $ | 138 | $ | 142 | $ | 596 | |||||||||||
|
Income available for fixed charges (including interest credited
to contractholders)
|
$ | 563 | $ | 1,789 | $ | 1,870 | $ | 1,936 | $ | 2,972 | ||||||||||
|
Income available for fixed charges (excluding interest credited
to contractholders)
|
$ | 557 | $ | 1,782 | $ | 1,870 | $ | 1,935 | $ | 2,526 | ||||||||||
|
RATIO OF EARNINGS TO FIXED CHARGES:
|
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|
Including interest credited to contractholders
|
2.9 | 11.0 | 13.6 | 13.6 | 5.0 | |||||||||||||||
|
SUPPLEMENTAL RATIO:
|
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|
Excluding interest credited to contractholders
|
2.9 | 11.4 | 13.6 | 13.7 | 16.8 | |||||||||||||||