EX-12 5 ex12final.htm COMPUTATION OF RATIOS

Exhibit 12

Statement re computation of ratios

2003

2002

2001

2000

1999

Income before income taxes

12,719 

10,751 

10,116 

9,083   

7,323 

Capitalized interest

(124)

(130)

(93)

(57)  

(41)

Minority interest

(193)

(183)

(129)

(170)  

(153)

Adjusted profit before tax

12,402 

10,438 

9,894 

8,856  *

7,129 

Fixed Charges
Debt interest

803 

1,083 

1,104 

779   

535 

Capital lease interest

260 

274 

279 

266   

268 

Capitalized interest

124 

130 

93 

57   

41 

Interest component of rent

873 

834 

714 

458   

523 

Amortization of Debt Issuance Cost
Total fixed expense

2,060 

2,321 

2,190 

1,560   

1,367 

Profit before taxes and fixed expenses

14,462 

12,759 

12,084 

10,416   

8,496 

Fixed charge coverage

7.02 

5.50 

5.52 

6.68   

6.22 

* Does not include the cumulative effect of accounting change recorded by the Company in Fiscal 2000