EX-12.1 3 ex12_1052012.htm EXHIBIT 12.1, DATED MAY 2012 ex12_1052012.htm
Exhibit 12.1
 
   
Three months
                                
   
ending March 31,
    
Year Ending December 31,
  
   
2012
    
2011
    
2010
    
2009
    
2008
    
2007
  
(In thousands, except ratio data)
                                    
Income before taxes and noncontrolling interests
   $ 37,722     $ 110,442     $ 109,341     $ 87,903     $ 36,413     $ 129,840  
Fixed charges
     4,415       15,038       12,047       13,356       9,506       12,036  
Adjusted earnings
     42,137       125,480       121,388       101,259       45,919       141,876  
                                                 
Interest expense
     4,404       14,997       11,984       13,290       9,441       11,971  
Interest portion of operating leases
     11       41       63       66       65       65  
Fixed charges
   $ 4,415     $ 15,038     $ 12,047     $ 13,356     $ 9,506     $ 12,036  
                                                 
Ratio of earnings to fixed charges (a)
     9.5       8.3       10.1       7.6       4.8       11.8  
                                                 
                                                 
(a) These ratios were calculated by dividing the sum of fixed charges into the sum of earnings before taxes and noncontrolling interest and fixed charges. Fixed charges for these purposes consist of all interest expense and the approximate portion of rental expense representing interest.