EX-12 5 l90650ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (AMOUNTS IN MILLIONS, EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, ------------------------------------ 1996 1997 1998 1999 2000 ---- ---- ------ ------ ---- Income before minority interest and equity in earnings of affiliates........................................ $470 $310 $ 505 $ 486 $293 Income taxes........................................... 239 294 315 251 171 Remitted Equity of affiliates.......................... -- 13 16 16 -- ---- ---- ------ ------ ---- 709 617 836 753 464 ---- ---- ------ ------ ---- Fixed Charges: Interest expense....................................... 204 251 280 279 323 Appropriate portion (1/3) of rentals................... 38 39 40 37 39 ---- ---- ------ ------ ---- 242 290 320 316 362 ---- ---- ------ ------ ---- Earnings before income taxes, fixed charges and including equity of affiliates....................... 951 907 1,156 1,069 826 ==== ==== ====== ====== ==== Ratio of earnings to fixed charges..................... 3.9x 3.1x 3.6x 3.4x 2.3x
NINE MONTHS ENDED SEPTEMBER 30, ------------- 2000 2001 ----- ----- Income (loss) before minority interest and equity in earnings of affiliates.................................... $381 $(17) Income taxes................................................ 207 6 Remitted Equity of affiliates............................... -- 33 ---- ---- 588 22 ---- ---- Fixed Charges: Interest expense............................................ 238 239 ---- ---- Appropriate portion (1/3) of rentals........................ 30 25 ---- ---- 268 264 ---- ---- Earnings before income taxes, fixed charges and including equity of affiliates...................................... 856 286 ==== ==== Ratio of earnings to fixed charges.......................... 3.2x 1.1x