Years Ended | ||||||||||||||||||||
(Dollars in Millions, Except Ratios) | Dec 26, 2015 | Dec 27, 2014 | Dec 28, 2013 | Dec 29, 2012 | Dec 31, 2011 | |||||||||||||||
Earnings1 | $ | 14,495 | $ | 16,031 | $ | 12,814 | $ | 15,057 | $ | 18,068 | ||||||||||
Adjustments: | ||||||||||||||||||||
Add - Fixed charges | 629 | 499 | 529 | 362 | 226 | |||||||||||||||
Subtract - Capitalized interest | (258 | ) | (276 | ) | (246 | ) | (240 | ) | (150 | ) | ||||||||||
Earnings and fixed charges (net of capitalized interest) | $ | 14,866 | $ | 16,254 | $ | 13,097 | $ | 15,179 | $ | 18,144 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest2 | $ | 337 | $ | 192 | $ | 244 | $ | 90 | $ | 41 | ||||||||||
Capitalized interest | 258 | 276 | 246 | 240 | 150 | |||||||||||||||
Estimated interest component of rental expense | 34 | 31 | 39 | 32 | 35 | |||||||||||||||
Total | $ | 629 | $ | 499 | $ | 529 | $ | 362 | $ | 226 | ||||||||||
Ratio of earnings before taxes and fixed charges, to fixed charges | 24x | 33x | 25x | 42x | 80x |