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Content analysis
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H.S. freshman Avg
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COMPUTATION OF RATIO OF INCOME FROM
CONTINUING OPERATIONS TO FIXED CHARGES
FOR SIX MONTHS ENDED JUNE 30,
(UNAUDITED)
(Dollars in millions) |
| 2018 |
| 2017 |
| ||
Income from continuing operations before income taxes (1) |
| $ | 3,916 |
| $ | 3,870 |
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Add: fixed charges, excluding capitalized interest |
| 982 |
| 848 |
| ||
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Income as adjusted before income taxes |
| $ | 4,898 |
| $ | 4,718 |
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Fixed charges: |
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Interest expense |
| $ | 713 |
| $ | 612 |
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Capitalized interest |
| 3 |
| 1 |
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Portion of rental expense representative of interest |
| 269 |
| 236 |
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Total fixed charges |
| $ | 986 |
| $ | 849 |
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Ratio of income from continuing operations to fixed charges |
| 4.97 |
| 5.56 |
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(1) Income from continuing operations before income taxes excludes (a) amortization of capitalized interest, and (b) the company’s share in the income and losses of less-than-fifty percent-owned affiliates.