EX-12.1 11 a92212orexv12w1.txt EXHIBIT 12.1 . . . EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS TO EARNINGS
SIX MONTHS YEAR ENDED DECEMBER 31, ENDED ------------------------------------------------- JUNE 30, 1998 1999 2000 2001 2002 2003 -------- -------- -------- -------- -------- -------- Earnings: Income before taxes $385,574 $481,909 $288,086 $ 56,502 $221,963 $230,767 Pretax charges (credits) 11,020 (2,233) 8,766 61,157 3,774 - Fixed charges: Interest expense 60,923 43,001 79,636 70,282 74,904 39,960 Interest portion of rental expense 17,080 16,023 17,917 16,554 21,318 5,243 -------- -------- -------- -------- -------- -------- Earnings, as adjusted $474,597 $538,700 $394,405 $204,495 $321,959 $275,970 ======== ======== ======== ======== ======== ======== Fixed charges: Interest expense $ 60,923 $ 43,001 $ 79,636 $ 70,282 $ 74,904 $ 39,960 Interest portion of rental expense 17,080 16,023 17,917 16,554 21,318 5,243 -------- -------- -------- -------- -------- -------- Fixed charges, as adjusted $ 78,003 $ 59,024 $ 97,553 $ 86,836 $ 96,222 $ 45,203 ======== ======== ======== ======== ======== ======== Preferred Dividends $ 5,259 $ - $ - $ - $ - $ - ======== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges 6.1 9.1 4.0 2.4 3.3 6.1 ======== ======== ======== ======== ======== ======== Ratio of Combined Fixed Charges and Preference Dividends to Earnings 0.2 0.1 0.2 0.4 0.3 0.2 ======== ======== ======== ======== ======== ========